<SEC-DOCUMENT>0001144204-13-041110.txt : 20130725
<SEC-HEADER>0001144204-13-041110.hdr.sgml : 20130725
<ACCEPTANCE-DATETIME>20130725123441
ACCESSION NUMBER:		0001144204-13-041110
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20130719
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130725
DATE AS OF CHANGE:		20130725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DOCUMENT SECURITY SYSTEMS INC
		CENTRAL INDEX KEY:			0000771999
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				161229730
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32146
		FILM NUMBER:		13985638

	BUSINESS ADDRESS:	
		STREET 1:		36 WEST MAIN ST
		STREET 2:		SUITE 710
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14614
		BUSINESS PHONE:		585 232 1500

	MAIL ADDRESS:	
		STREET 1:		36 W MAIN ST
		STREET 2:		SUITE 710
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW SKY COMMUNICATIONS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	THOROUGHBREDS USA INC
		DATE OF NAME CHANGE:	19861118
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v350801_8k.htm
<DESCRIPTION>8-K CURRENT REPORT
<TEXT>
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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">UNITED STATES</P>

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

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</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: center">CURRENT REPORT</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: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</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: center">Date of report (Date of earliest event reported):
July 19, 2013</P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Document Security Systems, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 32%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">New York</FONT></TD>
    <TD STYLE="width: 3%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 31%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">001-32146</FONT></TD>
    <TD STYLE="width: 3%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 31%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16-1229730</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(State or Other&nbsp;Jurisdiction</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Commission File Number)&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(IRS Employer Identification No.) &nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">of Incorporation)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 35%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">First Federal Plaza, Suite 1525</FONT></TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">28 E. Main Street</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14614</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rochester, NY</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Address of Principal Executive<BR>
Offices)&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant's telephone number, including
area code: (585) 325-3610</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</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">Copies to:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">61 Broadway, 32nd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">New York, New York 10006</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Phone: (212) 930-9700</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Fax: (212) 930-9725</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">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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>ITEM 8.01 OTHER EVENTS</B></P>

<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">On July 19, 2013, Premier Packaging Corporation (&ldquo;Premier
Packaging&rdquo;), a wholly-owned subsidiary of Document Security Systems, Inc. (the &ldquo;Company&rdquo;) entered into a Master
Loan and Security Agreement (the &ldquo;Master Agreement&rdquo;) with People&rsquo;s Capital and Leasing Corp. (the &ldquo;Lender&rdquo;)
pursuant to which Premier Packaging purchased a 2006 Heidelberg Model XL105-6LX CP2000 press (the &ldquo;Equipment&rdquo;) for
use in its Victor, New York facility.</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"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant
to the Master Agreement, the Lender provided Premier Packaging with a loan</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">in
the principal amount of $1,303,900, repayable over a 60-month period in monthly payments of $24,356.09, subject to certain adjustments.
The repayment of the loan is secured by a security interest in (i) the Equipment; (ii) all proceeds obtained from the Equipment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Master Agreement, Premier Packaging is required
to maintain certain insurance policies including property coverage and liability coverage, and to maintain certain debt service
coverage ratios.</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">On July 19, 2013, Premier Packaging issued
a Demand Promissory Note (the &ldquo;Note&rdquo;) to the Lender in the principal amount of $1,350,000, which amount is subject
to certain adjustments that may be made upon receipt of the Equipment.</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">The Note bears a fluctuating interest at
the rate of 3% above the Libor Rate (as defined in the Note), and shall become due and payable on a date to be determined by the
Lender. The Note contains customary default provisions.</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">The Note is secured by the Security Agreement
entered into by and among Premier Packaging and the Lender on July 19, 2013, pursuant to which the Lender was granted a security
interest in (i) the Equipment, (ii) all proceeds obtained from the Equipment, and (iii) all inventory and any other goods, merchandise
or other personal property held by debtor for sale or lease and all raw materials, work or goods in process or materials or supplies
of every nature used, consumed or to be consumed in debtor&rsquo;s business, now owned or hereafter acquired and all proceeds,
including insurance proceeds and products of any of the foregoing.</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; background-color: white">The foregoing is a summary of the material
terms of the Master Agreement, the Note and the Security Agreement and does not purport to be complete. You should read each of
the Master Agreement, the Note and the Security Agreement; a form of each is attached hereto as exhibit 99.1, 99.2 and 99.3, respectively,
which are incorporated by reference into this Item 1.01.</P>

<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>Item 9.01 Financial Statements and Exhibits.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 85%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Master Loan and Security Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.2</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Demand Promissory Note</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">99.3</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Security Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<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>SIGNATURES</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-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: July 25, 2013</P>

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

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    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>DOCUMENT SECURITY SYSTEMS, INC. </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">
        <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"><I>/s/ Jeffrey Ronaldi</I></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By: Jeffrey Ronaldi</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: Chief Executive Officer</P></TD></TR>
</TABLE>
<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">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v350801_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<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-top: 0pt; margin-bottom: 0pt; text-align: center">MASTER LOAN AND SECURITY AGREEMENT
NO. 3391</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">This Master Loan and Security Agreement
is entered into as of the 19th day of July, 2013, by and between <B>People&rsquo;s Capital and Leasing Corp.</B>, a Connecticut
corporation, having its principal place of business at 255 Bank St., 4th Floor, Waterbury, CT 06702 (the &quot;Lender&quot;) and
<B>Premier Packaging Corporation</B> a Corporation organized under the laws of the State of New York with its chief executive office
and place of business at 6 Framark Drive, Victor, NY 14564, (the &quot;Borrower&quot;). The Lender and Borrower agree as follows:</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>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE
LOANS</B>. Subject to the terms and conditions of this Agreement, the Lender will make one or more loans to the Borrower upon the
terms and conditions set forth in this Agreement and each schedule which may be executed from time to time by the parties hereto
and identified as a schedule to this Agreement (individually, a &quot;Schedule&quot; and collectively, the &quot;Schedules&quot;)
and all amendments, riders and supplements hereto and thereto. Each Schedule shall be deemed to incorporate the terms of this Agreement
and this Agreement and each Schedule which may be executed pursuant hereto shall constitute a separate and distinct loan (each
a &quot;Loan&quot; and collectively, the &quot;Loans&quot;) repayable as provided in this Agreement and the applicable Schedule.</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>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REPAYMENT
OF LOANS.</B> Borrower agrees to repay each Loan in the number and the amount of successive monthly or quarterly installments (which
shall be inclusive of interest, unless otherwise indicated) reflected in the applicable Schedule. The advance payment with respect
to a Schedule, if any, shall be due and payable upon execution of the Schedule. The first periodic installment (exclusive of the
advance payment, if any) with respect to a Schedule shall be due on the first (1st) day of the month following the advance of the
Loan proceeds by Lender (the &quot;Commencement Date&quot;). The remaining periodic installment payments shall be due and payable
on the same day of each successive month (or quarter, if quarterly payments are provided for in the Schedule). However, the parties
may select another Commencement Date by noting the same in the Special Provisions section of the Schedule or by a separate writing
signed by Lender and Borrower in which case the first periodic installment payment shall be due on such date. The Borrower authorizes
the Lender to insert the Commencement Date in each Schedule, determined in accordance with the foregoing provisions. Unless otherwise
specifically provided for in writing, no Loan may be prepaid.</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>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECURITY
INTEREST.</B> To secure payment when due (at maturity by acceleration or otherwise) of the Loan described in the applicable Schedule,
any interim funding against such Loan, the performance of all other obligations of the Borrower under this Agreement and the applicable
Schedule and the payment and performance of any and all other Schedules, debts, obligations and liabilities of Borrower to Lender
whether direct, contingent or joint and several, now existing or hereafter arising (including obligations assigned to Lender),
and any renewals, extensions and modifications of such debts, obligations and liabilities, Borrower hereby conveys, assigns and
grants to Lender a continuing security interest in and to (i) the equipment described in the applicable Schedule and all amendments,
riders and supplements thereto including all related software (embedded therein or otherwise), all parts, repairs, additions, attachments,
replacements, replacement parts, accessions and accessories incorporated therein or affixed thereto, modifications and substitutions
thereto (the &quot;Equipment&quot;) and (ii) all proceeds thereof including insurance proceeds (all of the above, including the
Equipment, collectively, the &quot;Collateral&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCING
AGREEMENT.</B> THIS AGREEMENT IS SOLELY A FINANCING AGREEMENT. BORROWER ACKNOWLEDGES THAT THE EQUIPMENT HAS BEEN OR WILL BE SELECTED
AND ACQUIRED SOLELY BY BORROWER AND THAT LENDER HAS NOT AND DOES NOT MAKE ANY WARRANTY WITH RESPECT TO ITS CONDITION, MERCHANTABILITY,
SUITABILITY, CAPACITY OR FITNESS FOR ANY PARTICULAR PURPOSE.</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>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNCONDITIONAL
OBLIGATION TO PAY, LATE PAYMENTS, ETC.</B> All payments due under a Schedule or hereunder shall be paid to Lender or its assigns
without notice or demand and without abatement, offset, defense or counterclaim, at Lender's principal office shown above, or such
other place as Lender or its assignee may designate in writing to Borrower. Borrower's obligation to pay the installments and other
payments due under a Schedule or hereunder shall be absolute and unconditional and shall not be affected by reason of (i) any defect
in, lack of fitness for use of, damage to, loss of possession or use of or destruction of, all or any of the Equipment described
in such Schedule; (ii) the prohibition or other restriction against Borrower's use of said Equipment; or (iii) for any other cause,
it being the agreement of the parties that the Loan and any other amount payable by Borrower under a Schedule or hereunder shall
continue to be payable in all events in the manner and at the times provided in the Schedule and this Agreement.</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">Time is of the essence
in the performance of the Borrower&rsquo;s obligations under this Agreement and each Schedule. If any periodic installment payment
or other payment is more than five (5) days late, Lender may, at its election, and subject to prior exercise of its right of acceleration,
accept the payment in arrears and Borrower shall pay, as liquidated damages: (i) a late charge on, and in addition to such periodic
installment or other payment, equal to five (5%) percent of such defaulted payment plus, (ii) interest on such defaulted payment
from one (1) month after the due date until paid at the lower of one and one-half percent (1.5%) per month or the maximum rate
permitted by law. Any amount received by Lender determined to be in excess of the highest rate of interest permitted by applicable
law shall be refunded to Borrower. A returned check fee or a non-sufficient funds charge of $25.00 will be charged to Borrower
for each check that is returned for any reason including non-sufficient funds or uncollected funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS
AND WARRANTIES.</B> Borrower warrants, represents and agrees as follows as of the date hereof and as of the date of execution of
each Schedule: (i) unless it is an individual or sole proprietorship, Borrower is duly organized, validly existing and in good
standing in the state in which it was organized (as indicated in the introductory paragraph of this agreement) and is duly qualified
to do business wherever necessary to carry on its business and operations; (ii) Borrower has the authority to carry on its business
as presently conducted; (iii) the Agreement is and each Schedule will be a legal, valid and binding obligation of the Borrower
in accordance with its terms; (iv) Borrower has full power and authority to execute, deliver and perform its obligations under
this Agreement and the Schedules; (v) the execution and delivery of this Agreement and the Schedules has been authorized by all
requisite corporate (or partnership or limited liability company) action; (vi) the execution, delivery and performance of this
Agreement and the Schedules does not and will not constitute a breach, default or violation of or under Borrower's articles of
incorporation or organization, by laws, partnership or limited liability company agreement or any other agreement, law, order,
judgment or injunction to which it is a party or may be bound; (vii) the Equipment is (or, on the Commencement Date, will be) lawfully
owned by Borrower, free and clear of all liens, encumbrances and security interests and Borrower will warrant and defend title
thereto against all claims; (viii) Borrower has not granted and will not grant to any one other than Lender a security interest
in the Equipment and no Financing Statement or other instrument affecting the Equipment nor rights therein, bearing the signature
of, or otherwise authorized by, Borrower is on file in any public office; (ix) the Equipment shall at all times remain personal
property and be retained in Borrower&rsquo;s possession at its principal address set forth above (or, if so indicated in a Schedule,
at the Equipment location set forth in such Schedule); (x) the Equipment shall be used solely for business purposes and not for
any consumer purposes; (xi) if the Equipment is attached to real estate or if it is or may become subject to a prior interest in
favor of a party having any interest in the real estate, Borrower will, on Lender's demand, furnish Lender with a writing by which
any and all parties having such prior interest waive or subordinate their rights and priorities to, or in favor of, Lender's security
interest provided herein; (xii) all financial statements and other credit information delivered by Borrower to Lender are true
and correct in all respects and there has been no material adverse change in the financial condition of the Borrower since their
date; (xiii) there are no pending or threatened actions or proceedings before any court or administrative agency that are likely
to have a material adverse effect on Borrower, nor is Borrower in default under any loan, lease or purchase obligation; (xiv) Borrower
has filed all tax returns required to be filed prior to the date of this Agreement and each Schedule taking into account any extension
of time granted or permitted by the taxing authority and has paid or adequately provided for all taxes payable by the Borrower
and (xv) Borrower&rsquo;s exact legal name and State of incorporation (or if not a corporation, State of organization) and chief
executive office are accurately set forth in the first paragraph of this Agreement and that the organizational number (if applicable)
assigned to Borrower in the State in which it was organized is as specified below Borrower&rsquo;s signature.</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 0pt 3pt; text-align: justify"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INSURANCE.</B> Borrower shall,
at its sole cost and expense, procure and maintain, so long as Borrower is indebted to Lender on any Loan or on any other liability:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.45in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: justify">property insurance insuring the Equipment against all
risks of physical loss, theft, damage and destruction (including specific coverage for loss by flood and earthquake, if requested
by Lender) in an amount equal to the greater of (a) the amount of the Loan under the applicable Schedule or (b) the full replacement
value of the Equipment and Lender and its assigns shall be named by endorsement with &ldquo;lender&rsquo;s loss payable provisions&rdquo;
under such policy, and;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.45in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">primary commercial general liability insurance and/or
commercial auto liability with respect to the use and maintenance of the Equipment in such amounts as may be reasonably acceptable
to Lender.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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">All insurers and coverages must be reasonably
satisfactory to Lender. Borrower shall deliver to Lender Evidence of Commercial Property Insurance on ACORD form 28 (&ldquo;Evidence&rdquo;)
(or equivalent) with ISO special form (or its equivalent), including flood and earthquake coverage (if requested by Lender) and
Certificate of Liability Insurance on ACORD form 25 (or equivalent) or other proof of insurance indicating that Borrower has obtained
appropriate liability coverage for its operations. Evidence shall provide that the policy may not be canceled or altered without
at least thirty (30) days prior written notice to Lender and that the coverage shall not be invalidated against Lender because
of any violation of any condition or warranty contained in any policy or application therefor by Borrower or by reason of any action
or inaction of Borrower. If requested by Lender, Borrower shall provide Lender with a copy of its commercial property insurance
policy and an endorsement to the policy indicating Lender&rsquo;s interest in the policy. Borrower hereby irrevocably appoints
Lender as Borrower&rsquo;s attorney-in-fact to file, settle or adjust and receive payment of claims under any insurance policy
on the Equipment and to endorse Borrower&rsquo;s name on any checks, drafts or other instruments of payment on such claims.</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>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USE,
REPAIRS, LOSS AND DAMAGE. </B> Borrower agrees to maintain the Equipment in good condition and repair and in accordance with the
manufacturer's instructions, manuals and warranties (if any), and the requirements of any applicable insurance and any governmental
authority having jurisdiction, provided, however, that Borrower shall not make any changes or alterations in or to the Equipment
except as necessary for compliance with this section. Borrower shall pay for all fuel, service, inspection, overhaul, replacements,
substitutions, materials and labor necessary or desirable for the proper use, repair, operation and maintenance of the Equipment.
All risks of loss, theft, damage or destruction of the Equipment shall be borne by Borrower and Borrower shall promptly notify
Lender in writing of any such loss, theft, damage or destruction. In the event of any damage to the Equipment (unless the same
is damaged beyond repair) Borrower shall, at its expense, place the same in good repair, condition and working order. If the Equipment
set forth in a Schedule or Schedules is determined by Lender to be lost, stolen or damaged beyond repair, or should said Equipment
be confiscated, seized or the use and title thereof requisitioned to someone other than Borrower, Borrower shall immediately pay
to Lender, in addition to unpaid past due periodic installment payments on the Loan, other unpaid sums then due hereunder and late
charges then past due, an amount equal to the then remaining periodic installment payments due on the Loan discounted to present
value at the rate of two percent (2%) per annum, less the net amount of the recovery, if any, actually received by Lender from
insurance on the Equipment.</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>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TAXES
AND OTHER CHARGES.</B> Borrower agrees to pay promptly when due all registration, title, license and other fees, assessments and
sales, use, gross receipts, ad valorum, property and any and all other taxes imposed by any State, Federal, local or foreign government
upon this Agreement and the Schedules or upon the ownership, shipment, delivery, use or operation of the Equipment or any Collateral
or upon or measured by any payments due hereunder (other than taxes on or measured solely by the net income of Lender) and any
fines, penalties and interest thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BORROWER'S
ADDITIONAL COVENANTS.</B> Borrower hereby agrees and covenants as follows: (i) except for the security interest granted hereby,
Borrower shall keep the Equipment free and clear of any security interest, lien or encumbrance and shall not sell, lease, assign
(by operation of law or otherwise), exchange or otherwise dispose of any of the Equipment, (ii) Borrower authorizes Lender to file
a financing statement and amendments thereto describing the Collateral, which may be filed either before or after Borrower&rsquo;s
execution of any related Schedule, and Borrower agrees to pay any filing fees and/or costs with respect thereto and for lien searches
and articles of incorporation; (iii) if any part of the Collateral is subject to certificate of title law, Borrower will cause
Lender&rsquo;s security interest to be noted on such certificate of title and promptly deliver such certificate to Lender; (iv)
Borrower agrees that it will not change the State where it was incorporated or otherwise, nor change its name or address, without
providing Lender with thirty (30) days prior written notice; (v) Borrower will allow Lender and its representatives free access
to the Collateral at all times during normal business hours, for purposes of inspection and repair and, following an Event of Default,
Lender shall have the right to demonstrate and show the Collateral to others and (vi) Borrower will furnish or cause to be furnished
to Lender (a) its interim Financial Statements to include both a balance sheet and income statement within sixty (60) days after
the end of its first three quarters in each fiscal year, (b) its review quality Financial Statements prepared by an independent
certified public accountant within one hundred twenty (120) days after the close of its fiscal year which shall be prepared in
accordance with generally accepted accounting principles, (c) the financial statements or other financial information which any
guarantor of Borrower's obligations hereunder (&ldquo;Guarantor&rdquo;) is required to provide to Lender as set forth in the applicable
guaranty, and (d) all other financial information and reports that Lender may from time to time reasonably request, including income
tax returns of Borrower and any Guarantor; (vii) Borrower and any Guarantor agrees that any financial statements or other nonpublic
information which Borrower or any Guarantor provides to Lender may be disclosed by Lender for legitimate business purposes to Lender&rsquo;s
affiliates, attorneys, advisors, recourse providers, prospective assignees or participants, auditors or other parties pursuant
to law, and (viii) Borrower will comply with all applicable federal, state and local laws, rules, ordinances, regulations and orders
applicable to it and Borrower will execute and deliver to Lender such further documents and take such further action as Lender
may require in order to more effectively carry out the intent and purpose of this Agreement.</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>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BORROWER'S
FAILURE TO PAY TAXES, INSURANCE, ETC. </B> Should Borrower fail to make any payment or do any act as herein provided (including,
but not limited to, payment of taxes or for insurance), Lender shall have the right, but not the obligation, and without releasing
Borrower from any obligation hereunder, to make or do the same, and to pay any sum due in connection therewith or to contest or
compromise any encumbrance, charge or lien and in exercising any such rights, incur any liability and expend whatever amounts in
its absolute discretion it may deem necessary therefor. If any of the foregoing shall be paid by Lender, Borrower shall promptly
reimburse Lender therefor on demand together with interest thereon at the lower of one and one-half percent (1.5%) per month or
the maximum rate permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CROSS
COLLATERALIZATION.</B> Without in any way limiting the provisions of Section 3, as additional security for the Borrower's obligations
under any Schedule, Borrower grants to Lender a security interest in all equipment and other personal property (collectively the
&ldquo;additional collateral&rdquo;) set forth in every other Schedule, lease, security agreement, loan and security agreement
or other agreement (collectively, the &quot;other agreements&quot;) between the Borrower and the Lender whether now or hereafter
in existence (including agreements assigned to Lender), and Borrower assigns to the Lender as security for its obligations under
each Schedule all of its right, title and interest in and to any surplus money to which Borrower may be entitled upon the sale
or other disposition of the additional collateral. Such additional collateral shall continue to secure the Borrower's obligations
under each Schedule even after the obligations under the applicable other agreement have been satisfied in full. Anything above
to the contrary notwithstanding, the benefit of the foregoing additional security provisions shall apply to the benefit of the
Lender and any assignee holding a Schedule only to the extent that the Lender or such assignee is also the holder of one or more
other agreements.</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>13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDEMNITY.</B>
Borrower assumes liability for and agrees to indemnify, defend, protect, save and keep harmless Lender from and against costs,
expenses and disbursements, including court costs and legal expenses, of whatever kind and nature, imposed on, incurred by or asserted
against Lender (whether or not also indemnified against by any other person) in any way relating to or arising out of this Agreement
or the Schedules or the manufacture, financing, ownership, delivery, possession, use, operation, condition or disposition of the
Equipment by Borrower, including, without limitation, any claim alleging latent and other defects, whether or not discoverable
by Lender or Borrower, and any other claim arising out of strict liability in tort, whether or not in either instance relating
to an event occurring while Borrower remains obligated under this Agreement, and any claim for patent, trademark or copyright infringement.
Each party agrees to give the other notice of any claim or liability hereby indemnified against promptly following learning thereof.
The fact that a claim for which Lender is entitled to indemnity under this Section is asserted after the termination of this Agreement
shall not release Borrower from its indemnity obligations and this covenant of indemnity shall survive the termination of this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DEFAULT.</B>
The occurrence of any one of the following shall constitute an &ldquo;Event of Default&rdquo; hereunder and under each Schedule:
(i) Borrower fails to pay any periodic installment payment, or other amount due hereunder or under any Schedule on or before the
fifth (5th) day following the date when the same becomes due and payable; (ii) Borrower removes, sells, transfers, encumbers, or
parts with possession of the Equipment or any items of Equipment or attempts to do any of the foregoing; (iii) Borrower fails to
maintain in force the required insurance on any Equipment in compliance herewith or fails to provide loss payable protection to
Lender in form satisfactory to Lender; (iv) any representation or warranty made by Borrower herein or in any other agreement between
the parties or in any statement given to Lender shall be materially untrue; (v) Borrower shall fail to observe or perform any of
the other obligations required to be observed or performed by Borrower hereunder or under any Schedule or Borrower or any Guarantor
shall fail to observe any other obligation or indebtedness of Borrower or such Guarantor to Lender otherwise owing or due by Borrower
or such Guarantor to Lender in any other agreement now or hereafter executed between the parties hereto, and such failure shall
continue uncured for twenty (20) days after written notice thereof to Borrower or such Guarantor; (vi) Borrower or any Guarantor
shall (a) fail to pay any indebtedness for borrowed money (other than the Loan) of the Borrower or such Guarantor, or any interest
or premium thereon, when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) or (b) fail
to perform or observe any term, covenant, or condition on its part to be performed or observed under any agreement or instrument
relating to such indebtedness, or if any such indebtedness shall be declared to be due or payable or required to be prepaid (other
than by a regularly scheduled required prepayment) prior to the stated maturity thereof; (vii) if Borrower leases the premises
where the Equipment is located, a breach of such lease by Borrower and the commencement of an action by the landlord to evict Borrower
or to repossess the premises; (viii) if Borrower or any Guarantor sells, leases or disposes of any of its assets except in the
ordinary course of its business and except for the disposition of any obsolete property not useful to Borrower or such Guarantor;
(ix) Borrower or any Guarantor ceases doing business as a going concern, makes an assignment for the benefit of creditors, admits
in writing its inability to pay its debts as they become due, files a voluntary petition in bankruptcy, is adjudicated a bankrupt
or an insolvent, files a petition seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar arrangement under any present or future statute, law or regulation or files an answer admitting the material allegations
of a petition filed against it in any such proceeding, consents to or acquiesces in the appointment of a trustee, custodian, receiver
or liquidator of it or of all or any substantial part of its assets or properties, or if Borrower or any Guarantor takes any action
looking to its dissolution or liquidation, or an order for relief is entered under the Bankruptcy Code against Borrower or any
Guarantor; (x) if within sixty (60) days after the commencement of any proceedings against Borrower or any Guarantor seeking reorganization,
arrangement, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such
proceedings, shall not have been dismissed or if within sixty (60) days after the appointment, without Borrower's or Guarantor&rsquo;s
acquiescence, of any trustee, custodian, receiver or liquidator of it or of all or any substantial part of its assets and properties,
such appointment shall not be vacated; (xi) Borrower or any Guarantor terminates its existence, sells all or substantially all
of its assets or consolidates with or merges into any other entity or its stockholders, partners or members sell all or substantially
all of their stock or partnership or membership interests; or (xii) the entry of any judgment, order, award or decree against Borrower
or a Guarantor which has not been discharged or execution thereof not stayed within sixty (60) days after entry and which is not
fully covered by applicable insurance, and a determination by Lender, in good faith but in its sole discretion, that the same could
have a material adverse effect on the Borrower or the Guarantor or the Lender&rsquo;s rights with respect to the Collateral or
the prospect for full and punctual payment of the payments due hereunder; (xiii) the death of an individual Guarantor; or (xiv)
Lender shall determine that there has been a material adverse change in the financial condition or business operations of the Borrower
or any Guarantor since the date of the execution of this agreement or that the Borrower&rsquo;s ability to perform its obligations
hereunder has been materially impaired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REMEDIES.</B>
Upon the occurrence of an Event of Default, Lender shall have the right to recover from Borrower, as liquidated damages for loss
of a bargain and not as a penalty, a sum equal to the aggregate of the following with respect to any and all Schedules: (a) all
unpaid periodic installment payments and other sums due under the Schedule to the date of default plus late charges, if any, (b)
the present value (using a two percent per annum (2%) discount rate) of all unmatured installments to become due under the Schedule
and (c) interest on the total of (a) plus (b) from the date of default at the rate of one and one-half percent (1.5%) per month,
if not prohibited by law, otherwise at the highest lawful rate. In addition, Lender shall have the right to recover from Borrower
any expenses paid or incurred by Lender in connection with the enforcement of its rights under each Schedule and the repossession,
transporting, holding, insuring, repairing, refurbishing, preparing for sale and subsequent sale, lease or other disposition of
the Collateral including reasonable attorney fees and legal expenses (collectively, &quot;Repossession Expenses&quot;). <B>BORROWER
WAIVES ANY AND ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON THIS AGREEMENT, ANY SCHEDULE OR ANY COLLATERAL</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">If the Equipment is
mobile equipment and/or normally or actually used in more than one location, whether self-propelled or transported by other equipment,
including but not limited to trucks, tractors, trailers, other motor vehicles, cranes, lifts, digging equipment, cement mixers,
rolling stock and all other construction, transportation, and mining equipment and all attachments and accessions to any of the
foregoing, then Lender shall have the right on five (5) days notice to require Borrower at Borrower&rsquo;s expense to deliver
the Equipment fully assembled to a single location for possession by Lender.</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 Lender shall have
all of the rights and remedies of a Secured Party under the Uniform Commercial Code and all other rights and remedies available
to creditors at law or in equity. Without limiting the generality of the foregoing, Lender is hereby authorized and empowered,
with the aid and assistance of any person or persons, to enter any premises where the Collateral or any part thereof is, or may
be, placed, and to assemble and/or remove same and/or to render it unusable and sell, lease or otherwise dispose of such Collateral
and any such sale may be at one or more public or private sales upon at least ten (10) days written notice to Borrower for such
sale. The proceeds of each such sale, lease, or other disposition of the Collateral shall be applied first, to the Repossession
Expenses, second to the liquidated damages specified above and any other indebtedness secured hereby, third, to the holder of any
subordinate interest or other lien on the Collateral if such holder is legally entitled to such proceeds and fourth, any surplus
to Borrower. Borrower shall remain liable for any deficiency on demand. <FONT STYLE="text-transform: uppercase">If Lender employs
counsel for the purpose of effecting collection of any monies due hereunder (whether or not Lender has retaken the Collateral or
any part hereof) or for the purpose of recovering the Collateral, BORROWER agrees to PAY REASONABLE attorney's fees, COSTS and
expenses inclusive of those incurred in bankruptcy proceedings, including relief from stay motions, cash collateral motions and
disputes concerning any disclosure statement and/or bankruptcy plan. </FONT>The Lender may require Borrower to assemble the Collateral
and make it available to Lender at a place to be designated by Lender which is reasonably convenient to both parties. Borrower
acknowledges and agrees that (i) Lender shall have no obligation to clean-up or otherwise prepare the Equipment or other collateral
for sale; (ii) Lender may comply with any state or federal law requirements in connection with the disposition of the Equipment
or other collateral and such compliance shall not be considered adversely to affect the commercial reasonableness of the sale;
(iii) Lender may sell the Equipment or other Collateral without giving any warranties with respect thereto and may specifically
disclaim any warranties and such procedure shall not be considered adversely to affect the commercial reasonableness of the sale;
and (iv) if Lender sells any of the Equipment or other Collateral on credit, Borrower shall be credited only with the payments
actually made by the purchaser, received by the Lender and applied to the indebtedness of the purchaser and if the purchaser fails
to pay for the Equipment or other collateral, Lender may resell the Equipment or other collateral and Borrower will be credited
with the proceeds of the sale. All rights and remedies hereunder are cumulative and not exclusive and a waiver by Lender of any
breach by Borrower of the terms, covenants, and conditions hereof shall not constitute a waiver of future breaches or defaults,
and no failure or delay on the part of Lender in exercising any of its options, powers, rights or remedies, or partial or single
exercise thereof, shall constitute a waiver thereof.</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"><B>&nbsp;</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If any court of competent
jurisdiction determines that any provision of this Section 15 is invalid or unenforceable in such jurisdiction, in whole or in
part, such determination shall not prohibit Lender from enforcing all other provisions in such jurisdiction.</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>16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASSIGNMENT. </B>Lender
may grant security interests in or otherwise assign or transfer (or grant participations in) all or any part of
this Agreement or any Loan or Schedule or any installments or other sums due or to become due, without Borrower's consent.
Borrower waives and agrees not to assert against any assignee any claim, defense or set-off that Borrower could assert
against Lender except defenses that cannot be legally waived. In the event Lender assigns any Schedule, (i) a copy of this
Agreement together with the manually executed (ink-signed) original Schedule shall constitute the original chattel paper
under the Uniform Commercial Code and (ii) the assignee holding the assigned Schedule shall be the Lender of the Loan set
forth in such assigned Schedule secured by the Collateral described therein and may exercise its rights and remedies with
respect thereto separately and independently of the holder of any other Schedule. Upon Lender's giving written notice to
Borrower of any such assignment, Borrower shall promptly acknowledge its obligations under the Schedule assigned and shall
comply with the written directions of such assignee, shall make all installment payments and other payments due with respect
to the assigned Schedule as such assignee may direct in writing and shall send all notices provided for or permitted under
this Agreement with respect to such Schedule to such assignee. Following any such assignment the term &quot;Lender&quot;
shall, as to the assigned Schedule, be deemed to refer to Lender's assignee, but no such assignee shall be deemed to assume
any obligation or duty imposed upon Lender hereunder arising prior to such assignment and Borrower shall look only to Lender
for performance thereof. As used in this Section 16, &quot;assign&quot; shall be deemed to include a pledge, sale of, or
grant of a security interest in, any of the Collateral or a Schedule by Lender and the term &quot;assignee&quot; shall be
deemed to refer to the recipient of such pledge, hypothecation, sale, mortgage, or security interest. This Agreement and any
Schedule shall not be transferable or assignable by Borrower without the Lender's express prior written consent and any such
purported assignment by Borrower other than in compliance with the provisions of this Section 16 shall be null and void
ab initio.</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>17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECURITY
DEPOSIT.</B> If a Security Deposit is indicated in a Schedule then such Security Deposit shall secure all of Borrower&rsquo;s obligations
to Lender now or hereafter in existence. Lender may, at its option, apply the Security Deposit to cure any default of Borrower,
whereupon Borrower shall promptly restore such Security Deposit to its original amount. Lender shall return to Borrower any unapplied
Security Deposit without interest upon full payment and performance of all of Borrower&rsquo;s obligations to Lender.</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PREJUDGMENT
REMEDY WAIVER</B>. THE BORROWER ACKNOWLEDGES AND AGREES THAT THE TRANSACTION OF WHICH THIS AGREEMENT IS A PART IS A COMMERCIAL
TRANSACTION AND NOT A CONSUMER TRANSACTION AND WAIVES ANY RIGHT TO A NOTICE AND HEARING UNDER CHAPTER 903a OF THE CONNECTICUT STATUTES,
AS AMENDED, OR ANY OTHER STATUTE OR STATUTES IN CONNECTICUT OR OTHER JURISDICTIONS AFFECTING PREJUDGMENT REMEDIES. THE BORROWER
AUTHORIZES THE LENDER&rsquo;S COUNSEL TO ISSUE A WRIT FOR A PREJUDGMENT REMEDY WITHOUT COURT ORDER, PROVIDED THE COMPLAINT SHALL
SET FORTH A COPY OF THIS WAIVER AND WAIVES ANY CLAIM IN TORT, CONTRACT OR OTHERWISE AGAINST LENDER&rsquo;S COUNSEL WHICH MAY ARISE
OUT OF SUCH ISSUANCE OF THE WRIT FOR A PREJUDGMENT REMEDY WITHOUT COURT ORDER. THE BORROWER ACKNOWLEDGES AND STIPULATES THAT THE
WAIVERS AND AUTHORIZATIONS GRANTED HEREIN ARE MADE KNOWINGLY AND FREELY AFTER FULL CONSULTATION WITH COUNSEL. SPECIFICALLY, THE
BORROWER RECOGNIZES AND UNDERSTANDS THAT THE EXCERCISE OF LENDER&rsquo;S RIGHTS DESCRIBED ABOVE MAY RESULT IN THE ATTACHMENT OF
OR LEVY AGAINST BORROWER&rsquo;S PROPERTY, AND SUCH WRIT FOR A PREJUDGMENT REMEDY WILL NOT HAVE THE PRIOR WRITTEN APPROVAL OR SCRUTINY
OF A COURT OF LAW OR OTHER OFFICIAL OFFICER NOR WILL BORROWER HAVE THE RIGHT TO ANY NOTICE OR PRIOR HEARING WHERE BORROWER MIGHT
CONTEST SUCH A PROCEDURE. THE INTENT OF BORROWER IS TO GRANT LENDER FOR GOOD AND VALUABLE CONSIDERATION THE RIGHT TO OBTAIN SUCH
PREJUDGMENT REMEDY AND TO ASSURE THAT ANY SUCH PREJUDGMENT REMEDY IS VALID AND CONSTITUTIONAL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GENERAL
PROVISIONS</B>. <B>THIS AGREEMENT AND ALL RELATED DOCUMENTS AND AGREEMENTS, INCLUDING BUT NOT LIMITED TO ALL SCHEDULES, RIDERS,
AMENDMENTS AND SUPPLEMENTAL DOCUMENTS (COLLECTIVELY, &ldquo;THE LOAN DOCUMENTS&rdquo;) AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CONNECTICUT</B>. BORROWER HEREBY IRREVOCABLY
CONSENTS TO THE JURISDICTION OF THE COURTS OF THE STATE OF CONNECTICUT AND THE FEDERAL DISTRICT COURT FOR THE DISTRICT OF CONNECTICUT
IN CONNECTION WITH ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE LOAN DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED
HEREBY. BORROWER WAIVES ANY OBJECTIONS BASED UPON VENUE OR &ldquo;FORUM NON CONVENIENS&rdquo; IN CONNECTION WITH ANY SUCH ACTION
OR PROCEEDING. BORROWER CONSENTS THAT PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE SERVED UPON IT BY REGISTERED MAIL DIRECTED
TO BORROWER AT ITS ADDRESS SET FORTH AT THE HEAD OF THIS AGREEMENT OR IN ANY MANNER PERMITTED BY APPLICABLE LAW OR RULES OF COURT.
BORROWER HEREBY IRREVOCABLY APPOINTS THE SECRETARY OF STATE OF CONNECTICUT AS ITS AGENT TO RECEIVE SERVICE OF PROCESS IN ANY SUCH
ACTION OR PROCEEDING. The Loan Documents may not be changed, modified or discharged on behalf of Lender, in whole or part, and
no right of Lender may be waived except by a writing signed by a duly authorized officer of Lender. The Lender is authorized and
empowered to date the Loan Documents and to fill in blank spaces in accordance with the terms of the transaction, including, but
not limited to inserting serial numbers and Equipment descriptions in any Schedule, the insertion of the Commencement Date in
the Schedule and the assignment of an account number. Notices hereunder shall be in writing and shall be deemed given when personally
delivered or when sent by facsimile to a party's facsimile number or three days after having been mailed to the other party at
the address specified above or such new address as to which a party may advise the other. Forbearance or indulgence by Lender
in any regard shall not constitute a waiver of the covenant or condition to be performed by Borrower to which the same may apply.
Borrower hereby waives demand, presentment, dishonor, protest, and notice of protest, notice of dishonor, notice of nonpayment
and any and all notices of like nature. The section captions are for convenience and are not a part of this Agreement. This Agreement
shall be binding upon and inure to the benefit of the successors and assigns of the Lender and shall bind all persons who become
bound as debtor to this Master Loan and Security Agreement. If executed by more than one Borrower, then the obligations of each
Borrower shall be joint and several. Any provision of the Loan Documents which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the
remaining provisions thereof. THE LOAN DOCUMENTS EXCLUSIVELY REPRESENT THE AGREEMENTS BETWEEN THE PARTIES AND THE INTENT OF THE
PARTIES THERETO AND SUPERSEDE ANY PRIOR PROPOSAL LETTERS, COMMITMENT LETTERS, ORAL COVENANTS, ORAL AGREEMENTS OR NEGOTIATIONS.
The Loan Documents shall not be binding on Lender until accepted and executed on behalf of Lender at its Waterbury, Connecticut
office. Unless otherwise expressly provided, only one original of each of the Loan Documents shall be executed, which execution
may be by separate counterparts which together shall constitute a single document. The parties agree that any copy of an executed
Loan Document, including any photocopy, telecopy or facsimile thereof, shall have the same force and effect as though it were
an original for all purposes, including but not limited to the enforcement of any of the terms and conditions thereof and the
admissibility of such Loan Document in any legal or equitable proceeding, but except as provided below and in Section 16, such
copy shall not be used to determine the original chattel paper. In the event that Borrower or any Guarantor provides Lender with
a copy of any Loan Document, then Borrower and Guarantor agree to immediately thereafter provide Lender with the original. Borrower
agrees that if Borrower delivers a copy but not the manually executed original of a Schedule to Lender, then Lender may execute,
designate and mark such copy as the &ldquo;Original&rdquo; Schedule for purposes of determining the original chattel paper pursuant
to Section 16 of this Agreement. Lender shall have no obligation to disburse the proceeds of any Loan if a material adverse change
occurs in the financial condition or business operations of Borrower or Guarantor, if an Event of Default exists or would exist
with the giving of notice and/or passage of time, or if any credit or documentation requirement remains outstanding.</P>

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


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accepted at Lender&rsquo;s Office at 255 Bank St., <BR>
4th Floor, Waterbury, CT 06702</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">The undersigned signatory affirms that he/she has read the terms and conditions printed above, that he/she is a duly authorized officer, partner, member, manager or proprietor of the Borrower, and has authority to execute this Master Loan and Security Agreement on its behalf.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">LENDER:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">BORROWER: </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PEOPLE&rsquo;S CAPITAL AND LEASING CORP.&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">PREMIER PACKAGING CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">AUTHORIZED OFFICER:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">AUTHORIZED OFFICER, PARTNER, MEMBER, MANAGER, OR PROPRIETOR:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/</I></FONT> <I>Melissa
    Curtis</I></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">BY: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s</I></FONT>/ <I>Robert
    B. Bzdick</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 44%">Vice President of Documentation </TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 44%">CEO</TD></TR>

</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif">FEDERAL IDENTIFICATION NO.:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 19%"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Master Loan 2009</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


<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">&nbsp;</P>


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<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">COVENANT RIDER TO MASTER LOAN AND SECURITY
AGREEMEMT NO. 3391 DATED JULY 19, 2013 (THE &ldquo;AGREEMENT&rdquo;) BETWEEN PEOPLE&rsquo;S CAPITAL AND LEASING CORP. (&ldquo;PCLC&rdquo;)
AND PREMIER PACKAGING CORPORATION (&ldquo;BORROWER&rdquo;)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The above captioned Agreement is hereby amended to add the following.:</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">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower
agrees that so long as any Loan remains outstanding and unpaid, Borrower shall:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Maintain
a Debt Service Coverage Ratio of at least 1.15 to 1.00. &ldquo;Debt Service Coverage Ratio&rdquo; is defined as (i) Borrower&rsquo;s
net income <U>less</U> taxes, <U>less</U> distributions, <B>]</B><U>plus</U> depreciation, amortization, and interest expense <U>divided
by</U> (ii) Borrower&rsquo;s current portion of long term debt, capital lease obligations and interest expense measured at the
end of each fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Deliver
to PCLC a compliance certificate for each fiscal year during the term of the Agreement (and if PCLC so requests, also for the fiscal
year ending immediately prior to the commencement of the Agreement) executed by Borrower&rsquo;s chief financial officer stating
the results of Borrower&rsquo;s operations for such year in terms of the financial covenant(s) set forth above. The compliance
certificate for a fiscal year shall be delivered within the period of time allowed under the Agreement for the Borrower to deliver
its financial statements for such year.</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">A failure by PCLC to insist on strict compliance
with any provision of this Rider in any fiscal year shall not constitute a waiver of Borrower&rsquo;s obligation to comply with
such provision in any subsequent year. Except as expressly provided herein, all accounting terms used herein shall be interpreted
in accordance with generally accepted accounting principles as in effect from time to time.</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">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
failure by Borrower to maintain any of the above financial covenant(s) shall constitute an additional Event of Default under the
Agreement.</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">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
terms used herein which are defined in the Agreement and not otherwise defined herein shall have the same meanings as set forth
in the Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IN WITNESS WHEREOF, the parties have executed this Rider simultaneously
with the Agreement.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">PREMIER PACKAGING CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Melissa
    Curtis</I></FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY<I>:</I></FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Robert B. Bzdick</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:</FONT>&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Vice President of Documentation</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:</FONT>&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<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">SCHEDULE TO MASTER LOAN AND SECURITY
AGREEMENT</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">Schedule No. 001
dated July 19, 2013 to Master Loan and Security Agreement No. 3391 dated July 19, 2013</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Lender:</B></FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Borrower:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">People&rsquo;s Capital And Leasing Corp.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Premier Packaging Corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">255 Bank St., 4th Floor</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">6 Framark Drive</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Waterbury, CT&nbsp;&nbsp;06702</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">VICTOR, NY 14564</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lender and Borrower have entered into a
Master Loan and Security Agreement No. 3391 dated July 19, 2013 (the &quot;Master Loan Agreement') which is incorporated herein
and this is a Schedule to the Master Loan Agreement. All terms used herein which are defined in the Master Loan Agreement and not
otherwise specifically defined herein shall have the same meanings as set forth in the Master Loan Agreement.</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"><B>1. THE LOAN AND
LOAN REPAYMENT</B>. Pursuant to the Master Loan Agreement, Lender agrees to lend to Borrower the sum of One Million, Three Hundred
Three Thousand, Nine Hundred and 00/100 ($1,303,900.00<B>)</B> Dollars. Borrower agrees to repay the Loan in successive installments
(which installment payments are inclusive of interest) as set forth in the following payment schedule:</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">ADVANCE<BR> PAYMENT</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">NUMBER&nbsp;OF&nbsp;PERIODIC<BR> INSTALLMENT(exclusive<BR> of&nbsp;Advance&nbsp;Payment)<BR> PAYMENTS&nbsp;AND<BR> PAYMENT&nbsp;PERIOD</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">INSTALLMENT<BR> AMOUNT&nbsp;PER<BR> PERIODIC&nbsp;PAYMENT<BR> PERIOD</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 33%; text-align: center; padding-left: 5.4pt">N/A</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 33%; text-align: center; padding-left: 5.4pt">Sixty (60) Monthly</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 30%; text-align: right">24,356.09</TD><TD STYLE="width: 1%; 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">Commencement Date: __________________ Security Deposit (if any):
_____________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Equipment Location: <U>6 Framark Drive, Victor, NY 14564</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Special Provisions: (if any):________________________________________________________________</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"><B>2. EQUIPMENT AND
SECURITY INTEREST</B>. As provided in the Master Loan Agreement, Borrower gives and grants to the Lender a security interest in
the Equipment described in the attached Schedule A as security for its obligations under this Schedule and the Master Loan Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>3. DISBURSEMENT OF PROCEEDS.</B> Borrower
hereby authorizes Lender to disburse the Loan proceeds as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>$1,303,900.00</U></FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif">To: Press Clean Sales</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$1,303,900.00</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>TOTAL PROCEEDS</B></FONT></TD></TR>
</TABLE>
<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-indent: 0.5in">4. SEE PAYMENT ADJUSTMENT RIDER ATTACHED
AND INCORPORATED BY REFERENCE.</P>

<P STYLE="font: bold 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"><FONT STYLE="font-weight: normal">The Loan
consisting of this Schedule (including the provisions of the Master Loan Agreement incorporated herein) and all riders and supplements
to this Schedule constitutes a separate and distinct Loan from any other Schedule to the Master Loan Agreement. Unless otherwise
expressly provided, only one original of this Schedule shall be executed and such original together with a copy of the Master Loan
Agreement shall constitute the original loan chattel paper. By its execution and delivery of this Schedule, Borrower hereby reaffirms
all of the warranties and representations contained in the Master Loan Agreement as of the date hereof and further warrants and
represents to the Lender that no Event of Default has occurred and is continuing as of the date hereof. This Schedule shall not
be in effect until accepted by Lender at its Waterbury, CT office.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">ACCEPTED AT LENDER&rsquo;S WATERBURY, CT. OFFICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">PREMIER PACKAGING CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/</I></FONT>
    <I>Melissa Curtis</I></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY<I>:</I></FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Robert B. Bzdick</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">Vice President of Documentation</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MASTER LOAN AND SECURITY AGREEMENT NO.
3391</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE NO. 001</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE A</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 following description
of property supplements, and is part of Schedule No. 001 dated July 19, 2013 to the Master Loan and Security Agreement No. 3391
dated July 19, 2013 between Premier Packaging Corporation as Borrower and People&rsquo;s Capital and Leasing Corp. as Lender and
may be attached to said Schedule and any related UCC Financing Statements, Acceptance or Delivery Certificate or other document
describing the property:</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"><B>Equipment Location:&#9;6 Framark Drive, Victor, NY 14564</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vendor: Press Clean Sales&#9;</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>QUANTITY</U></B></FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>DESCRIPTION</U></B></FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>SERIAL NUMBER</U></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One (1) used 2006 Heidelberg Model XL105-6LX CP2000, image control,
chambered doctor blade coater, non stop feeder, X2 Non Stop Delivery, IR dryer , Non Stop Feeder, all program controlled wash ups,
Autoplate, Ink line, air cooled, WEKO AP500 Eltex powder spray 6 color sheetfed press S/N ________________</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">All property listed above together with
all related software (embedded therein or otherwise), all parts, repairs, additions, attachments, replacements, replacement parts,
accessions and accessories incorporated therein or affixed thereto, modifications and substitutions thereto and all proceeds thereof
including insurance proceeds.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">PREMIER PACKAGING CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Melissa
    Curtis</I></FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY<I>:</I></FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Robert B. Bzdick</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">Vice President of Documentation</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:</FONT>&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO</FONT></TD></TR>
</TABLE>
<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"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PAYMENT ADJUSTMENT RIDER</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: left"><FONT STYLE="text-transform: uppercase"><B>Rider
to Schedule No. 001 dated July 19, 2013 to Master Loan and Security Agreement No. 3391 dated July 19, 2013 (collectively, the &quot;Contract&quot;)
between Premier Packaging Corporation as Borrower (the &quot;Obligor&quot;) and People&rsquo;s Capital and Leasing Corp. as Lender
(&quot;PCLC&quot;)</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">1. <U>Purpose</U>. This Rider sets forth
the terms of adjustment to the payments set forth in the Contract. Terms defined in the Contract and not otherwise defined herein
shall have the meanings defined in the Contract.</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">2. <U>Definitions</U>. The following terms
shall have the following meanings herein:</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; text-align: justify">(a) &quot;Adjustment Date&quot; shall mean
the date PCLC first disburses any portion of the proceeds of the Contract, provided however, if PCLC makes vendor progress payments
or other interim advances pursuant to a demand note or other interim financing document, then the Adjustment Date shall mean the
date on which such interim financing &ldquo;converts&rdquo; to the term transaction evidenced by the Contract, which date shall
be the date Obligor accepts the Equipment following delivery or other earlier date which the parties select in writing. The parties
may by a separate writing select a different manner of determining the Adjustment Date.</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; text-align: justify">(b) &quot;Final Base Rate&quot; shall mean
the rate for the 5 year U.S. dollar interest rate swaps (non-amortizing, semi-annual basis), as quoted on the morning of the Adjustment
Day in the on-line Federal Reserve Statistical Release H.15 for the most recent business day for which such information is available,
or any successor or similar source selected by PCLC.</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; text-align: justify">(c) &quot;Preliminary Payments&quot; shall
mean the payments set forth in the Contract, consisting of Sixty (60) consecutive monthly payments in the amount of $24,356.09
commencing one (1) month following the Adjustment Date.</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">(d) &quot;Preliminary Base Rate&quot; shall
mean 1.24%.</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">3. <U>Adjustment of
Payments.</U> The Preliminary Payments were calculated based on a spread over the Preliminary Base Rate. If the Adjustment Date
occurs after July 19, 2013, and the Final Base Rate is greater or less than the Preliminary Base Rate, then the Preliminary payments
shall be revised. For each increase or decrease of one (1) basis point (i.e., 1/100 of 1%) in the Final Base Rate above or below
the Preliminary Base Rate, the Preliminary Payments shall be revised as follows:</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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Each of the Sixty (60) payments in the amount of $24,356.09 shall
increase or decrease by $5.94.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Immediately after the determination of
the revised payments due under the Contract, Obligor shall, at the request of PCLC, execute an acknowledgment reflecting the revised
payment schedule, but the failure of PCLC to make such a request or the failure of Obligor to execute the acknowledgment shall
in no way diminish Obligor&rsquo;s obligations hereunder.</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">4. <U>PCLC's Requirements</U>.
The commencement of the Contract is subject to satisfaction of all documentation and credit requirements of PCLC. If such requirements
are not satisfied by the Adjustment Date, then at PCLC's option, the Adjustment Date shall be the date when such requirements are
satisfied. The calculation of the Contract payments under this Rider will supersede any prior proposal or quotation.</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">IN WITNESS WHEREOF, the parties have executed
this Rider simultaneously with the Contract.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">PREMIER PACKAGING CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Melissa
    Curtis</I></FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY<I>:</I></FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Robert B. Bzdick</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">Vice President of Documentation</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:</FONT>&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO</FONT></TD></TR>
</TABLE>
<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">&nbsp;</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: center"><B><U>THE ATTACHED DELIVERY CERTIFICATE
IS TO BE EXECUTED, DATED AND RETURNED TO PEOPLE&rsquo;S CAPITAL UPON DELIVERY AND ACCEPTANCE OF THE EQUIPMENT.</U></B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 69%"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>MASTER LOAN AND SECURITY AGREEMENT NO.: 3391</B></FONT></TD>
    <TD STYLE="width: 31%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>DATED: July 19, 2013</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>SCHEDULE NO.&nbsp;&nbsp;001</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>DATED: July 19, 2013</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">TO:</TD><TD STYLE="text-align: justify">PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned Borrower hereby acknowledges
that all of the Equipment described below and in Schedule No. 001 dated July 19, 2013 to the Master Loan and Security Agreement
referred to above (collectively, the &ldquo;Loan Agreement&quot;) has been delivered to Borrower, and is of the manufacture, design
and specifications selected by Borrower and is suitable for Borrower's purposes, and that said Equipment fully complies with said
Loan Agreement and Borrower has accepted said Equipment thereunder.</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">Borrower understands that this Delivery
Certificate may be used as an inducement to an assignee of People&rsquo;s Capital and Leasing Corp. (&ldquo;PCLC&rdquo;) to accept
an assignment of said Loan Agreement and to make advances to PCLC. Borrower hereby represents to PCLC and any such assignee that
said Loan Agreement at the date hereof is free from any defense, off-set or counterclaim and hereby waives, as to any such assignee,
all such defenses, off-sets and counterclaims as may arise in the future (preserving the same against PCLC).</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-indent: 0.4in">Equipment Description:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>QUANTITY</U></B></FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>DESCRIPTION</U></B></FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>SERIAL NUMBER</U></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">One (1) used 2006 Heidelberg Model XL105-6LX CP2000,
image control, chambered doctor blade coater, non stop feeder, X2 Non Stop Delivery, IR dryer , Non Stop Feeder, all program controlled
wash ups, Autoplate, Ink line, air cooled, WEKO AP500 Eltex powder spray 6 color sheetfed press</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">S/N ________________</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PREMIER PACKAGING CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</FONT></TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid"></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><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</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">ACCEPTANCE DATE: ___________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: center">PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">255 BANK ST. 4th FLOOR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WATERBURY, CT 06702</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">Premier Packaging Corporation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 19, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6 Framark Drive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Victor, NY 14564</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">RE: PREPAYMENT OF LOAN</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">Ladies and Gentlemen:</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">Reference is made herein to Schedule No.
001 dated July 19, 2013 to a certain Master Loan and Security Agreement No. 3391 dated July 19, 2013 (collectively, the &ldquo;Loan&rdquo;)
between People&rsquo;s Capital and Leasing Corp. (&ldquo;PCLC&rdquo;) and/or its assigns and Premier Packaging Corporation as Borrower
(&ldquo;Borrower&rdquo;).</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">Provided Borrower is not currently in default under the Loan,
Borrower shall have the option, upon thirty (30) days written notice to PCLC and/or its assigns, to terminate the Loan prior to
the end of its scheduled term and to prepay the Loan in full on any regular payment due date in the amount of the simple interest
balance plus the prepayment charge below (plus any unpaid late fees).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: left">If the prepayment occurs on the due date of payments
one (1) through twelve (12), there will be a prepayment charge equal to 3% of the simple interest balance.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: left">If the prepayment occurs on the due date of payments
thirteen (13) through twenty-four (24), there will be a prepayment charge equal to 2% of the simple interest balance.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: left">If the prepayment occurs on the due date of payments
twenty-five (25) through thirty-six (36), there will be a prepayment charge equal to 1% of the simple interest balance.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: left">If the prepayment occurs on the due date of payments
thirty-seven (37) through sixty (60), there will be a prepayment charge equal to 0% of the simple interest balance.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">ACKNOWLEDGED AND AGREED TO BY:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</font></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/</I></FONT> <I>Melissa
    Curtis</I></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"><FONT STYLE="text-transform: uppercase">Premier Packaging Corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">TITLE:&nbsp;&nbsp;</TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid">Vice President of Documentation</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY<I>:</I></FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Robert B. Bzdick</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:</FONT>&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO</FONT></TD></TR>
</TABLE>
<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; text-align: center"><B>PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>255 BANK ST., 4TH FLOOR </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WATERBURY, CT 06702</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="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Premier Packaging Corporation</FONT></TD>
    <TD STYLE="width: 50%; padding-left: 0.875in"><FONT STYLE="font-family: Times New Roman, Times, Serif">July 19, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">6 Framark Drive</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Victor, NY 14564</FONT></TD>
    <TD>&nbsp;</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 0pt 27pt; text-indent: -27pt">Re: <FONT STYLE="font-size: 10pt">
Schedule No. 001 Dated July 19, 2013 To Master Loan and Security Agreement No. 3391 Dated July 19, 2013</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</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">People&rsquo;s Capital and Leasing Corp.
(&ldquo;Lender&rdquo;) requires insurance coverage with companies and in form satisfactory to it as one of the conditions to enter
into the above described loan with your Company covering the Equipment listed on the attached schedule. This insurance must be
carried throughout the term of the loan. Please sign, complete the bottom portion and return this letter. <B>Please forward <U>a
copy</U> of this letter to your insurance company with the request that it issue evidence of commercial property insurance and
a certificate of liability insurance with the following requirements:</B></P>

<P STYLE="font: 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">PROPERTY COVERAGE<FONT STYLE="font-weight: normal">:</FONT></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: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Covering all risks of physical loss, damage,
destruction (including loss due to flood and earthquake if requested by Lender) or theft of the Equipment, with extended coverage.</FONT></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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PEOPLE&rsquo;S CAPITAL AND LEASING CORP. ITS SUCCESSORS AND ASSIGNS</B></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">to be named by endorsement with lender&rsquo;s loss payable provisions.
A copy of the endorsement complying with the foregoing requirement must be provided.</FONT></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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
                                                                                                          the amount of the total
                                                                                                          Property Coverage to
                                                                                                          include a Replacement
                                                                                                          Value of $<B>1,303,900.00</B></FONT></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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Equipment should be described specifically
or by reference to an attached schedule or by reference to the above loan and account number.</FONT></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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The coverage may not be invalidated against
Lender because of any violation of any condition or warranty contained in any policy or application therefor by the insured or
others.</FONT></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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Evidence of commercial property insurance
meeting the foregoing requirements on ACORD form 28 or equivalent, with ISO special form (or its equivalent) including flood and
earthquake coverage (if requested by Lender)</FONT></TD></TR></TABLE>

<P STYLE="font: 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">LIABILITY COVERAGE<FONT STYLE="font-weight: normal">:</FONT></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: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">$5,000,000.00 combined single limit for each occurrence comprehensive
general liability coverage, including umbrella/excess liability. (Lender need not be named in the policy)</FONT></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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certificate of liability insurance meeting
the foregoing requirements on ACORD form 25 or equivalent </FONT></TD></TR></TABLE>

<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: justify">ADDITIONAL POLICY PROVISIONS:</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: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Carrier should be rated A-, VIII (or better)
by A.M. Best Company. </FONT></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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The policies must provide that they will
not be canceled or altered without <B>thirty (30)</B> days prior written notice to People's Capital and Leasing Corp. </FONT></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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notices to be sent to People&rsquo;s Capital
and Leasing Corp. and its assigns, 255 Bank St., 4th Floor, Waterbury, CT 06702.</FONT></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">Please feel free to contact or have your
insurance agent contact Beth Ann Logan at your earliest convenience. Please be aware that failure to have insurance in effect that
meets the above requirements will delay the commencement and/or funding of the above loan.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"><FONT STYLE="text-transform: uppercase">Premier Packaging Corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/</I></FONT>
    <I>Melissa Curtis</I></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY<I>:</I></FONT></TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Robert B. Bzdick</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">Vice President of Documentation</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>INSURANCE INFORMATION (please complete and return to People's
Capital):</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>INSURANCE COMPANY: </B></FONT> _________________________</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PHONE:</B></FONT></TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>AGENT/CONTACT:</B></FONT> ______________________________</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FAX:  _____________________________________ </B></FONT></TD></TR>
</TABLE>
<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>



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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>v350801_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="margin: 0"></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><U>DEMAND PROMISSORY NOTE</U></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$ 1,350,000.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left; padding-left: 2in"><FONT STYLE="font-family: Times New Roman, Times, Serif">July 19, 2013 </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">FOR VALUE RECEIVED, the undersigned (hereinafter
called &ldquo;Borrower&rdquo;) promises to pay to the order of PEOPLE&rsquo;S CAPITAL AND LEASING CORP. (hereinafter called &ldquo;PCLC&rdquo;),
at 255 Bank Street, 4<SUP>th</SUP> Floor, Waterbury, CT 06702 or at such other place as may be designated in writing by the holder
of this Note, ON DEMAND, one million, three hundred fifty thousand and 00/100 dollars ($)1,350,000.00 together with interest thereon
at a fluctuating per annum interest rate equal to 3.00% above the Libor Rate. The &ldquo;Libor Rate&rdquo; shall mean the one (1)
month London InterBank Offered Rate quoted in U.S. Dollars (rounded upward to two decimal places) as published in the &ldquo;Money
Rates&rdquo; section of the WALL STREET JOURNAL or any successor or similar section or publishing service selected by Lender, computed
on a 360 day basis. The interest shall be payable one month following the first advance and on the same day of each month thereafter
with all unpaid and accrued interest being payable at the time of demand. The interest accrued in any month shall be determined
by reference to the Libor Rate in effect on the first business day of such month.</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">To secure payment of this Note, Borrower
granted a security interest in its property pursuant to a Security Agreement dated as of this date (the &ldquo;Agreement&rdquo;).</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">If Borrower fails to pay any interest installment
on its due date, which failure continues for a period of five (5) days, Borrower shall pay a late charge thereon equal to one and
one half (1.50%) percent per month from the due date to the date of payment, but only to the extent permitted by law. After the
maturity of this Note, Borrower shall pay interest on the unpaid balance equal to one and one half (1.50%) percent per month, but
only to the extent permitted by law. In the event that PCLC institutes an action upon this Note or under the Agreement, Borrower
shall pay, in addition to unpaid principal, interest and unpaid late charges, the expenditures incurred by PCLC in enforcing collection
of this Note and its rights under the Agreement, including all reasonable attorneys&rsquo; fees. In addition, if Borrower defaults
under this Note, then PCLC shall be entitled to all the rights and remedies of a secured party and as set forth in the Agreement.
<B>BORROWER AND PCLC WAIVE ALL RIGHTS TO A JURY TRIAL IN ANY ACTION OR PROCEEDING BASED UPON THIS NOTE.</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">The proceeds of this Note are being disbursed
by PCLC on Borrower&rsquo;s behalf in connection with the purchase of certain equipment (the &ldquo;Equipment&rdquo;) described
in Schedule No. 001 to Master Loan and Security Agreement No.3391 between Borrower and PCLC (the &ldquo;Loan&rdquo;). Advances
hereunder shall only occur after PCLC has received all items it requires, including from vendors or third parties, and updated
financial information if requested. Provided Borrower is not in default under this Note, the Agreement or the Loan, no prior demand
for payment has been made by PCLC and the conditions of the succeeding sentence are met, this Note shall be &ldquo;converted&rdquo;
to, and the principal amount advanced deemed included in the total amount disbursed pursuant to the Loan. The aforesaid &ldquo;conversion&rdquo;
shall not occur unless and until Borrower has satisfied all credit and documentation requirements of PCLC, including but not limited
to the execution and delivery of said Loan and a Delivery Certificate. Upon such &ldquo;conversion&rdquo;, this Note shall be deemed
paid in full, however the Agreement shall not be canceled until the Equipment has been fully delivered and accepted, and the Loan
has been fully funded by PCLC. Borrower has committed to the Loan and without PCLC&rsquo;s consent, Borrower may not finance the
Equipment with another lender or prepay this Note except in connection with the conversion of the Note to the Loan so long as PCLC
is willing to complete the Loan.</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>THIS NOTE AND THE RIGHTS AND OBLIGATIONS
OF PCLC AND BORROWER HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CONNECTICUT.</B>
PCLC shall have the right to fill in any blanks left in this Note, the Agreement, or the Loan and to correct patent errors therein;
but the same may not be otherwise modified or discharged, in whole or in part, and no right or remedy of PCLC hereunder or under
any other agreement may be waived except by a written agreement signed by PCLC.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>PREMIER PACKAGING CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">BY:</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Robert B. Bzdick</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">TITLE:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<TYPE>EX-99.3
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<FILENAME>v350801_ex99-3.htm
<DESCRIPTION>EXHIBIT 99.3
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<P STYLE="margin: 0">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; padding-left: 0; font-size: 10pt; text-align: right; padding-right: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Agreement Number: 3391-601</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">Agreement dated July 19, 2013 between <B>Premier Packaging Corporation</B>
as Debtor (whether one or more than one, herein called &ldquo;Debtor&rdquo;) having an address of 6 Framark Drive, Victor, NY 14564
and People&rsquo;s Capital and Leasing Corp. as Secured Party (herein called &ldquo;Secured Party&rdquo;).</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">For valuable consideration and to secure
indebtedness of Debtor to Secured Party under a certain Demand Promissory Note of even date (hereinafter called the &ldquo;Note&rdquo;),
and any renewals, extensions or replacements thereof (the &ldquo;Loan&rdquo;), and any other obligation of Debtor to Secured Party
which is in existence or may hereafter come into existence, Debtor hereby grants to Secured Party a security interest in the property
listed on the annexed Schedule B (collectively referred to as the &ldquo;Collateral&rdquo;).</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: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify">All payments due under the Note shall be made without notice and demand and Debtor&rsquo;s obligation
to make any payment thereunder or hereunder shall be absolute and unconditional and Debtor shall not be entitled to any reduction
or setoff against such payment, nor shall this Security Agreement terminate, or, the respective obligations of Secured Party or
Debtor be otherwise affected by reason of any defect in, lack fitness for use of damage to, loss of possession or use of or destruction
of all of or any of the portion of collateral constituting equipment from whatsoever cause, the prohibition of or other restriction
against Debtor&rsquo;s use of the Collateral, or for any other cause, it being the intention of the parties hereto that the Loan
and other amounts payable by Debtor hereunder and under the Note shall continue to be payable in all events in the manner and at
the times provided in the Note and hereunder unless the obligations to pay the same shall be terminated pursuant to the express
provisions of this Security Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify">The Collateral is, or will be used, primarily for business purposes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify">Debtor hereby warrants, represents and agrees:</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">(a) that the Collateral is lawfully
owned by debtor, free and clear of all other liens, encumbrances and security interests, except if otherwise specified in Schedule
B, and Debtor will warrant and defend title to the same against the claims and demands of all persons; (b) that, except if otherwise
specified in Schedule B, Debtor has not granted, and will not grant, to anyone other than Secured Party any security interest in
the Collateral and Financing Statement or other instrument affecting the Collateral, nor rights therein, bearing the signature
of, or otherwise authorized by, Debtor, is on file in any public filing office; (c) that the Collateral is and shall be retained
in Debtor&rsquo;s possession at 6 Framark Drive, Victor, NY 14564; (d) that the Collateral shall at all times remain personal property;
(e) that the Collateral is used for business; (f) that if the Collateral is attached to real estate or if the Collateral is or
may become subject to a prior interest in favor of any party having an interest in the real estate, Debtor, on demand of Secured
Party will furnish Secured Party with a writing by which any and all parties having such prior interest subordinate or disclaim
their rights and priorities to, or in favor of Secured Party&rsquo;s security interest provided herein.</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: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify">Debtor further agrees that from the date hereof it will keep the equipment portion of the Collateral
insured against all risks of Physical loss or damage, including loss by fire, theft, windstorm, and explosions with extended coverage
for not less than the greater of the Loan or the full replacement cost of the Collateral and shall carry property damage and additional
insurance including public liability insurance in such amounts and covering such risks as Secured Party may reasonably require.
All said insurance shall be in form and with companies satisfactory to Secured Party, the loss under all such policies shall be
payable to Secured Party and Debtor as their interests may appear. Such policies shall provide that no less than thirty (30) days
notice shall be given by the insurance company to Secured Party prior to any cancellation or alteration of the policies and with
respect to policies insuring against physical loss that the coverage afforded to Secured Party shall not be impaired or invalidated
against Secured Party or its assignees because of any condition or warranty contained in any policy or application therefor by
Debtor. The insurance policies and all renewals thereof, or Certificates in lieu thereof, shall be promptly delivered by Debtor
to Secured Party and shall be held by it until the indebtedness secured hereby is paid. Debtor hereby assigns to Secured Party
all monies, not in excess of the Loan and any monies due hereunder, which may become payable under such insurance including the
return of any unearned premiums, and directs any insurer to make payment directly to Secured Party and authorizes Secured Party
to apply such monies in payment on account of the Loan secured hereby and to remit any surplus to Debtor. If the equipment portion
of the Collateral is damaged, other than being totally destroyed, and such damage is repairable and covered by insurance, all loss
proceeds payable by the insurance company or companies shall be made available by Secured Party to be applied to the repair and/or
replacement of such damage to the equipment portion of the Collateral provided Debtor is not in default of its obligations under
this Agreement or in the payment of any of the indebtedness secured hereby. Debtor appoints Secured Party as its attorney-in-fact
to endorse any draft, make any claim under such insurance and execute any proof of claim and to do all other things necessary and
required to effect a settlement under any insurance policies. In the event of a failure by Debtor to procure and maintain such
insurance, Secured Party is hereby authorized and empowered to do so and the premiums paid for same shall be a lien against the
Collateral added to the amount of the indebtedness secured hereby and payable on demand with interest at the rate of 1.50% per
month but in no event greater than the maximum legal rate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify">Debtor agrees that as between it and Secured Party all risks of loss, theft or destruction of the
equipment portion of the Collateral shall be borne by Debtor. Debtor further agrees to keep the equipment portion of the Collateral
in first class operating condition and appearance at all times. Upon any failure of Debtor to comply with the foregoing, Secured
Party, in addition to its other rights and remedies hereunder, may, but shall not be obligated to, cause repairs to be made to
such Collateral, the cost of which shall be a lien against the Collateral, added to the amount of indebtedness secured hereby,
and payable on demand with interest at the rate of 2% per month but in no event greater than the maximum legal rate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify">Debtor further agrees that it will not use the Collateral in violation of any statute, ordinance
or applicable insurance policy and will promptly pay all taxes and assessments levied against the Collateral; that Debtor will
not permit any lien, charge, encumbrance or security interest of any kind whatsoever (other than Secured Party&rsquo;s security
interest) to accrue upon or attach to Collateral; that Debtor will not remove the equipment portion of the Collateral from its
location as above set forth without the prior written consent of Secured Party; that if any part of the equipment portion of the
collateral is subject to a certificate of title law, Debtor will cause Secured Party&rsquo;s security interest to be noted thereon
and promptly deliver such certificate of title to Secured Party; that Debtor will not secrete, sell, transfer, dispose of, attempt
to dispose of, substantially modify or abandon the collateral or any part thereof, that Debtor will sign and deliver to Secured
Party such Financing Statements and continuation statements, in form acceptable to Secured Party, as Secured Party may, from time
to time, reasonably request, or as are reasonably necessary in the option of Secured Party, to establish and maintain a valid security
interest in the collateral and Debtor will pay any relative filing fees or costs with respect thereto and for prior lien searches;
and that Secured Party is authorized to file any such Financing Statement without the signature of Debtor. Debtor will allow Secured
Party and its representatives free access to the Collateral at all times for purposes of inspection or repair, Debtor will furnish
to Secured Party unaudited quarterly financial statements within sixty (60) days after the end of its first three quarters in each
fiscal year and a certified Financial Statement within one hundred twenty (120) days after the close of its fiscal year, all of
which shall be true and correct in all respects, shall be prepared in accordance with generally accepted accounting principles
and shall be supplied until the Note is paid in full.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="text-align: justify">The occurrence of any one of the following shall constitute an Event of Default hereunder:</TD></TR></TABLE>

<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: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify">Debtor is in default in payment under the Note or hereunder;</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"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify">Debtor removes, sells, transfers, encumbers, or parts with possession of the Collateral or any
items thereof or attempts to do any of the foregoing;</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"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify">Debtor fails to maintain in force the required insurance on the Collateral in compliance herewith
or fails to provide loss payable protection to Secured Party in form satisfactory to Secured Party;</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"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify">If any representation or warranty made by debtor herein or in any statement given to Secured Party
shall be materially untrue;</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"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: justify">Debtor shall fail to observe or perform any of the other obligations required to be observed or
performed by Debtor hereunder, or other obligation or indebtedness of Debtor to Secured Party otherwise owing or due by Debtor
to Secured Party in any other agreement now or hereafter executed between the parties hereto and such failure shall continue UNCURED
for ten (10) days after written notice thereto to Debtor by Secured Party;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&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"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="text-align: justify">Debtor ceases doing business as a going concern, makes an assignment for the benefit of creditors,
admits in writing its inability to pay its debts as they become due, files a voluntary petition in bankruptcy, is adjudicated a
bankrupt or an insolvent, files a petition seeking for itself any reorganization, arrangement, composition readjustment, liquidation,
dissolution or similar arrangement under any present or future statute, law or regulation or files an answer admitting the material
allegations of a petition filed against it in any such proceeding, consents to or acquiesces in the appointment of a trustee, custodian,
receiver or liquidator of it or of all or any substantial part of its assets or properties, or if it shall take any action looking
to its dissolution or liquidation, or an order for relief is entered under the bankruptcy code against Debtor;</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"><FONT STYLE="font-size: 10pt">(g)</FONT></TD><TD STYLE="text-align: justify">Within thirty (30) days after the commencement of any proceeding against Debtor seeking reorganization,
arrangement, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such
proceedings shall not have been dismissed, or if within thirty (30) days after the appointment without Debtor&rsquo;s acquiescence
of any trustee, custodian, receiver or liquidator of it or of all or any substantial part of its assets and properties, such appointment
shall not be vacated; or</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"><FONT STYLE="font-size: 10pt">(h)</FONT></TD><TD STYLE="text-align: justify">A material adverse change occurs in the financial condition or business operations of Debtor, a
guarantor or a vendor of the equipment to be financed. Secured Party may require updated financial statements prior to any funding
under the Note and the &ldquo;conversion&rdquo; of the Note to the Loan defined in the Note demonstrating no material adverse change
when compared to the financial statements provided for approval.</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">Upon the occurrence of any Event
of Default, Secured Party shall have all of the rights and remedies of a Secured Party under the Uniform Commercial Code and Secured
Party is hereby authorized and empowered, with the aid and assistance of any person or persons, to enter any premises where the
collateral or any part thereof is, or may be, placed, and to assemble and/or remove same and/or to render it unusable and sell
and dispose of such Collateral at one or more public or private sales upon at least ten (10) days&rsquo; written notice to Debtor
of such sale. The proceeds of each such sale shall be applied by Secured Party toward the payment of the Note or other indebtedness
secured hereby, expenses of retaking, including payment by Secured Party of storage, preparing for such sale, advertising, selling
and all related charges and disbursements in connection therewith. Should the proceeds of any such sale be insufficient to fully
pay all the items above mentioned, Debtor hereby covenants and agrees to pay any deficiency to Secured Party and if Secured Party
employs counsel for the purpose of effecting collection of any monies due hereunder (whether or not Secured Party has retaken the
Collateral or any part thereof) or for the purpose of recovering the collateral, or for the purpose of protecting Secured Party&rsquo;s
interest because of any default of debtor, Debtor agrees to pay reasonable attorney&rsquo;s fees and such attorney&rsquo;s fees
shall be a lien on the collateral herein and the proceeds thereof. Secured Party may require debtor to assemble the Collateral
and make it available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties.
All rights and remedies hereunder are cumulative and not exclusive and a waiver by Secured Party of any breach by Debtor of the
terms, covenants, and conditions hereof shall not constitute a waiver of future breaches or defaults; and no failure or delay on
the part of Secured Party in exercising any of its options, powers, rights or remedies, or partial or single exercise thereof,
shall constitute a waiver thereof.</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: 0.25in"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="text-align: justify">DEBTOR AND SECURED PARTY HEREBY WAIVE THE RIGHT OF A TRIAL BY JURY IN ANY ACTION OR PROCEEDING
BY EITHER PARTY, OR ASSIGNS, ARISING OUT OF THE SUBJECT MATTER OF THIS SECURITY AGREEMENT, THE COLLATERAL, OR THE NOTE OR OTHER
OBLIGATION SECURED HEREBY.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="text-align: justify">This Security Agreement may not be changed, modified or discharged, in whole or in part, and no
right or remedy of Secured Party hereunder or under the Note or as a Secured Party under the Uniform Commercial Code may be waived
by secured party unless such change, modification, discharge or waiver is in writing and signed on behalf of Secured Party by one
of its duly authorized officers. All prior representations and agreements are merged in this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="text-align: justify">Secured Party is hereby authorized and empowered to date this Security Agreement and to fill in
blank spaces in accordance with the actual terms of the related transaction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">11.</FONT></TD><TD STYLE="text-align: justify">The rights and benefits of Secured Party hereunder shall inure to the benefit of its successors
and assigns.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">12.</FONT></TD><TD STYLE="text-align: justify">All covenants of Debtor shall survive the termination of this Security Agreement. Notices hereunder
shall be given in writing and mailed to the other party at the address specified herein or to such changed address as either party
may give the other notice in writing. Forbearance or indulgence by Secured Party in any regard whatsoever shall not constitute
a waiver of the covenant and condition. In the event any portion of this Security Agreement is invalid for any reason whatsoever,
the parties agree that the agreement shall remain binding between them except for such invalidated portion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&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: 0.25in"><FONT STYLE="font-size: 10pt">13.</FONT></TD><TD STYLE="text-align: justify">THIS SECURITY AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF SECURED PARTY AND DEBTOR HEREUNDER SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CONNECTICUT.</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">IN WITNESS WHEREOF, Debtor has executed
this Security Agreement as of the date first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>PREMIER PACKAGING CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 44%; border-bottom: windowtext 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/&nbsp;<I>Robert B. Bzdick</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">CEO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PEOPLE&rsquo;S CAPITAL AND LEASING CORP.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/</FONT>
    <I>Melissa Curtis</I></TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">Vice President of Documentation</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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>SECURITY AGREEMENT</U></B></P>

<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><U>SCHEDULE B</U></B></P>

<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: justify">The following description of property supplements,
and is part of, the Security Agreement No.3391-601 dated July 19, 2013 between the undersigned Borrower and People&rsquo;s Capital
and Leasing Corp. and may be attached to said Security Agreement and any related UCC Financing statements, Acceptance or Delivery
Certificate or other document describing the property.</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 0pt 0.5in; text-align: justify">All machinery, equipment, furniture
and fixtures, now owned or hereafter acquired, complete with any and all attachments, accessions, additions, replacements, improvements,
modifications and substitutions thereto and therefor and all proceeds including insurance and products thereof and therefrom including
the following:</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 0pt 0.5in">One (1) used 2006 Heidelberg Model XL105-6LX CP2000,
image control, chambered doctor blade coater, non stop feeder, X2 Non Stop Delivery, IR dryer , Non Stop Feeder, all program controlled
wash ups, Autoplate, Ink line, air cooled, WEKO AP500 Eltex powder spray 6 color sheetfed press S/N ________________</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 0pt 0.5in; text-align: justify">All accounts, accounts receivable,
contract rights, instruments, general intangibles, documents, investment property, letter of credit rights, payment intangibles
and chattel paper now owned or hereafter acquired and all proceeds thereof and therefrom.</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 0pt 0.5in; text-align: justify">All inventory and any other goods,
merchandise or other personal property held by debtor for sale or lease and all raw materials, work or goods in process or materials
or supplies of every nature used, consumed or to be consumed in debtor&rsquo;s business, now owned or hereafter acquired and all
proceeds, including insurance proceeds and products of any of the foregoing.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">PEOPLE&rsquo;S CAPITAL AND LEASING CORP<FONT STYLE="font-weight: normal">.</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">PREMIER PACKAGING CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/</I>
    <I>Melissa Curtis</I></FONT></TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>/s/ Robert B. Bzdick</I> </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">Vice President of Documentation</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEO </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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