<SEC-DOCUMENT>0000944075-11-000052.txt : 20111018
<SEC-HEADER>0000944075-11-000052.hdr.sgml : 20111018
<ACCEPTANCE-DATETIME>20111018131507
ACCESSION NUMBER:		0000944075-11-000052
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20111012
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20111018
DATE AS OF CHANGE:		20111018

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOCKET MOBILE, INC.
		CENTRAL INDEX KEY:			0000944075
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPUTERS [3571]
		IRS NUMBER:				943155066
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25904
		FILM NUMBER:		111145359

	BUSINESS ADDRESS:	
		STREET 1:		39700 EUREKA DRIVE
		CITY:			NEWARK
		STATE:			CA
		ZIP:			94560-4808
		BUSINESS PHONE:		5109333000

	MAIL ADDRESS:	
		STREET 1:		39700 EUREKA DRIVE
		CITY:			NEWARK
		STATE:			CA
		ZIP:			94560-4808

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOCKET COMMUNICATIONS INC
		DATE OF NAME CHANGE:	19950418
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form-8k1012.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 3pt; border-top: Black 3pt solid; border-bottom: Black 3pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

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

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

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported)</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">October 12, 2011</P>

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

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SOCKET MOBILE, INC.</B></P>

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

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

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 29%; vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 3%; vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 31%; vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold; text-align: center"> <FONT STYLE="font-size: 10pt"><B>001-13810</B></FONT></TD>
    <TD STYLE="width: 2%; vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 35%; vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold; text-align: center">94-3155066</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; text-align: center">(State or other jurisdiction of incorporation)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; text-align: center">(IRS Employer<BR> Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>39700 Eureka Drive</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Newark, CA 94560</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices, including
zip code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(510) 933-3000</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 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 (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 5pt 14.25pt; text-indent: -14.25pt">[ ] Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 5pt 14.25pt; text-indent: -14.25pt">[ ] Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 5pt 14.25pt; text-indent: -14.25pt">[ ] Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 14.25pt; text-indent: -14.25pt">[ ] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 14.25pt; text-indent: -14.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 14.25pt; text-indent: -14.25pt">&nbsp;</P>

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 45.6pt; text-align: left; text-indent: -45.6pt">Item 1.01
Entry into Material Definitive Agreements</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On October 12, 2011, Socket Mobile, Inc. (the
&ldquo;Company&rdquo;) entered into new domestic and international working capital revolving credit line agreements (the &ldquo;Loan
and Security Agreements&rdquo;) with Silicon Valley Bank (the &ldquo;Lender&rdquo;). Pursuant to the Loan and Security Agreements,
the Company may borrow up to $2.5 million, of which up to $1.5 million is based on qualified receivables from domestic (U.S. based)
customers and up to $1.0 million is based on qualified receivables from international customers. The event, also announcing the
activation of the line, was announced in a press release included as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">Advances against the domestic line are
calculated at 80% of qualified receivables except for receivables from distributors which are calculated at 60%. Advances against
the international line are calculated at 90% against qualified hedged receivables except receivables from distributors, and 70%
against qualified non-hedged receivables and receivables from distributors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Borrowings under the lines bear an annual interest
rate equal to the greater of (i) the Lender&rsquo;s prime rate plus 1%, or (ii) 5%. There is also a collateral handling fee of
0.25% per month of the financed receivable balance outstanding. The applicable interest and fees are calculated based on the full
amount of the accounts receivable provided as collateral for the actual amounts borrowed. The Loan and Security Agreements expire
on October 12, 2013 and the Company expects to renew the Agreements at that time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">The Loan and Security Agreements contain
customary representations, warranties and covenants, including covenants limiting the Company&rsquo;s ability to incur additional
liens or indebtedness, make distributions to its stockholders and make investments. The Company&rsquo;s total obligations to the
Lender including borrowings outstanding at any time are limited to 50% of the sum of cash plus qualified receivables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">The Loan and Security Agreements contain
customary events of default that entitle the Lender to accelerate the Company&rsquo;s obligations and require repayment of the
Company&rsquo;s outstanding indebtedness thereunder. These events of default include, among others, the Company&rsquo;s breach
of its payment obligations or covenants, a material impairment of the Company&rsquo;s financial condition or ability to repay any
indebtedness to the Lender and the commencement of dissolution or insolvency proceedings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">To secure the Company&rsquo;s borrowings
under the Loan and Security Agreements, the Company has provided the Lender a first priority security interest in all assets of
the Company, including its intellectual property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The foregoing description of the Loan and Security
Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Loan and Security
Agreements, copies of which are attached hereto as Exhibit 10.11 (domestic) and Exhibit 10.12 (international) and are incorporated
herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">This report contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended that involve risks and uncertainties, specifically statements relating to the expectation of renewing the Loan
and Security Agreements upon their expiration. We assume no obligation to update such forward-looking statements.</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01 Financial Statements and Exhibits</B></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 16%; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold">Exhibit No.</TD>
    <TD STYLE="width: 1%; vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 83%; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; letter-spacing: -0.1pt; font-weight: bold; text-decoration: none">Description</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt"> 10.11</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Loan and Security Agreement dated October 12, 2011 by and between
        Socket Mobile, Inc. and Silicon Valley Bank.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt"> 10.12</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Loan and Security Agreement (EXIM Loan Facility) dated October 12,
        2011 by and between Socket Mobile, Inc. and Silicon Valley Bank.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt"> 99.1</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; layout-grid-mode: line">Press release dated October 18, 2011.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 37.05pt">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: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"> SOCKET MOBILE, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; text-align: right">By:</TD>
    <TD STYLE="width: 30%; border-bottom: windowtext 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">/s/ David W. Dunlap</TD>
    <TD STYLE="width: 17%; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75pt">Name: David W. Dunlap</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75pt">Vice President, Finance and Administration</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">and Chief Financial Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: October 18, 2011</P>

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

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

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 16%; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold">Exhibit No.</TD>
    <TD STYLE="width: 1%; vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 83%; vertical-align: top; border-bottom: windowtext 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none; letter-spacing: -0.1pt; font-weight: bold; text-decoration: none">Description</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt"> 10.11</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Loan and Security Agreement dated October 12, 2011 by and between
        Socket Mobile, Inc. and Silicon Valley Bank.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt"> 10.12</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Loan and Security Agreement (EXIM Loan Facility) dated October 12,
        2011 by and between Socket Mobile, Inc. and Silicon Valley Bank.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt"> 99.1</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.7pt; padding-left: 0.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; layout-grid-mode: line">Press release dated October 18, 2011.</TD></TR>
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<FILENAME>ex10-11.htm
<DESCRIPTION>EXHIBIT 10.11
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B>Exhibit 10.11</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>LOAN AND SECURITY AGREEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This <B>LOAN AND
SECURITY AGREEMENT</B> (this &ldquo;<B>Agreement</B>&rdquo;) dated as of October 12, 2011 (the &ldquo;<B>Effective Date</B>&rdquo;)
is between <B>SILICON VALLEY BANK</B>, a California corporation (&ldquo;<B>Bank</B>&rdquo;), and <B>SOCKET MOBILE, INC.</B>, a
Delaware corporation (&ldquo;<B>Borrower</B>&rdquo;), and provides the terms on which Bank shall lend to Borrower, and Borrower
shall repay Bank. The parties agree as follows:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>ACCOUNTING AND OTHER TERMS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Accounting terms
not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP;
provided that if at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in
any Loan Document, and either Borrower or Bank shall so request, Borrower and Bank shall negotiate in good faith to amend such
ratio or requirement to preserve the original intent thereof in light of such change in GAAP; provided, further, that, until so
amended, (a) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and
(b) Borrower shall provide Bank financial statements and other documents required under this Agreement or as reasonably requested
hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect
to such change in GAAP. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section&nbsp;13
of this Agreement. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by
the Code to the extent such terms are defined therein.</P>

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

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>LOAN AND TERMS OF PAYMENT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Promise to Pay</B>. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit
Extensions and accrued and unpaid interest thereon together with any fees and Finance Charges as and when due in accordance with
this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><B>2.1.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financing of Accounts</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Availability</U>. Subject to the terms of this Agreement, Borrower may request that Bank finance specific Eligible Accounts.
Bank may, in its sole discretion in each instance, finance such Eligible Accounts by extending credit to Borrower in an amount
equal to the result of the Advance Rate multiplied by the face amount of the Eligible Account (the &ldquo;<B>Advance</B>&rdquo;).
Bank may, in its sole discretion, change the percentage of the Advance Rate for a particular Eligible Account on a case by case
basis. When Bank makes an Advance, the Eligible Account becomes a &ldquo;Financed Receivable.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Maximum Advances</U>. The aggregate amount of Advances outstanding at any time may not exceed One Million Five Hundred
Thousand Dollars ($1,500,000), and the aggregate amount of Credit Extensions outstanding at any time may not exceed Two Million
Five Hundred Thousand Dollars ($2,500,000).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Borrowing Procedure</U>. Borrower will deliver an Invoice Transmittal for each Eligible Account it offers. Bank may rely
on information set forth in or provided with the Invoice Transmittal. In addition, upon Bank&rsquo;s request, Borrower shall deliver
to Bank any contracts, purchase orders, or other underlying supporting documentation with respect to such Eligible Account.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Credit
Quality; Confirmations</U>. Bank may, at its option, conduct a credit check of the Account Debtor for each Account requested
by Borrower for financing hereunder to approve any such Account Debtor&rsquo;s credit before agreeing to finance
such Account. Bank may also verify directly with the respective Account Debtors the validity, amount and other matters
relating to the Accounts (including confirmations of Borrower&rsquo;s representations in Section&nbsp;5.3 of this Agreement)
by means of mail, telephone or otherwise, either in the name of Borrower or Bank from time to time in its sole
discretion.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Accounts Notification/Collection</U>. Bank may notify any Account Debtor of Bank&rsquo;s security interest in the Borrower&rsquo;s
Accounts and verify and/or collect them.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Maturity</U>. This Agreement shall terminate and all Obligations outstanding hereunder shall be immediately due and payable
in full on the Maturity Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Bank&rsquo;s Discretion</U>. Notwithstanding anything to the contrary contained herein, this Agreement may be terminated
by Borrower or Bank at any time, and Bank is not obligated to finance any Eligible Accounts. Bank and Borrower hereby acknowledge
and agree that Bank&rsquo;s agreement to finance Eligible Accounts hereunder is discretionary in each instance. Accordingly, there
shall not be any recourse to Bank, nor liability of Bank, on account of any delay in Bank&rsquo;s making of, and/or any decline
by Bank to make, any loan or advance requested hereunder. If this Agreement is terminated by Borrower for any reason, Borrower
shall pay to Bank a termination fee in an amount equal to the Early Termination Fee Amount (the &ldquo;<B>Early Termination Fee</B>&rdquo;).
The Early Termination Fee shall be due and payable on the effective date of such termination and thereafter shall bear interest
at a rate equal to the highest rate applicable to any of the Obligations. Notwithstanding the foregoing, Bank agrees to waive the
Early Termination Fee if Bank agrees to refinance and re-document this Agreement under another division of Bank (in its sole and
exclusive discretion) prior to the Maturity Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Collections, Finance Charges, Remittances and Fees</B>. The Obligations shall be subject to the following fees and Finance
Charges. Unpaid fees and Finance Charges may, in Bank&rsquo;s discretion, accrue interest at the then highest rate applicable to
the Obligations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Collections</B>.
Collections will be credited to the Financed Receivable Balance for such Financed Receivable, but if there is an Event of
Default, Bank may apply Collections to the Obligations in any order it chooses. If Bank receives a payment for both a
Financed Receivable and a non-Financed Receivable, the funds will first be applied to the Financed Receivable and, if
there is no Event of Default then existing, the excess will be remitted to Borrower, subject to Section&nbsp;2.9 of this
Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Facility Fee; EXIM Application FEE</B>. A fully earned, non-refundable facility fee of Twenty-Five Thousand Dollars ($25,000)
is due upon the Effective Date, and an additional non-refundable facility fee of Twenty-Five Thousand Dollars ($25,000) is due
upon each anniversary date of the Effective Date (collectively, the &ldquo;<B>Facility Fee</B>&rdquo;). An EXIM Application Fee
of One Hundred Dollars ($100) is due upon the Effective Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Finance
Charges</B>. In computing Finance Charges on the Obligations under this Agreement, all Collections received by Bank shall be
deemed applied by Bank on account of the Obligations three (3) Business Days after receipt of the Collections. Borrower will
pay a finance charge (the &ldquo;<B>Finance Charge</B>&rdquo;) on the Financed Receivable Balance which is equal to the
Applicable Rate <U>divided by</U> 360 <U>multiplied by</U> the number of days each such Financed Receivable is outstanding <U>multiplied
by</U> the outstanding Financed Receivable Balance. The Finance Charge is payable when the Advance made based on such
Financed Receivable is repaid in accordance with Section&nbsp;2.12 of this Agreement. Immediately upon the occurrence of an
Event of Default, the Applicable Rate will increase an additional five percent (5.0%) per annum. In the event that the
aggregate amount of Finance Charges and EXIM Finance Charges earned by Bank in any Reconciliation Period is less than the
Minimum Finance Charge, Borrower shall pay to Bank an additional Finance Charge equal to (i)&nbsp;the Minimum Finance Charge
minus (ii)&nbsp;the aggregate amount of all Finance Charges earned by Bank in such Reconciliation Period. Such additional
Finance Charge shall be payable on the first day of the next Reconciliation Period.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Collateral
Handling Fee</B>. Borrower will pay to Bank a collateral handling fee equal to one quarter of one percent (0.25%) per
Reconciliation Period of the Financed Receivable Balance for each Financed Receivable outstanding based upon a 360 day
year (the &ldquo;<B>Collateral Handling Fee</B>&rdquo;); provided, however, for any Subject Month (as of the first calendar
day of such Reconciliation Period), to the extent that Borrower maintained an Adjusted Quick Ratio of at least 1.25 to 1.0 at
all times during the applicable Testing Month, Borrower shall not be required to pay any Collateral Handling Fee. The
Collateral Handling Fee is charged on a daily basis and is equal to the Collateral Handling Fee divided by 30, multiplied by
the number of days each such Financed Receivable is outstanding, multiplied by the outstanding Financed Receivable Balance.
The Collateral Handling Fee is payable when the Advance made based on such Financed Receivable is payable in accordance with
Section&nbsp;2.12 of this Agreement. In computing Collateral Handling Fees under this Agreement, all Collections received by
Bank shall be deemed applied by Bank on account of Obligations three (3) Business Days after receipt of the Collections.
After an Event of Default, the Collateral Handling Fee will increase an additional 0.50% effective immediately upon such
Event of Default.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounting</B>. After each Reconciliation Period, Bank will provide Borrower with an accounting of the transactions for
that Reconciliation Period, including the amount of all Financed Receivables, all Collections, Adjustments, Finance Charges, Collateral
Handling Fee, and the Facility Fee. If Borrower does not object to the accounting in writing within thirty (30) days it shall be
considered accurate. All Finance Charges and other interest and fees are calculated on the basis of a 360 day year and actual days
elapsed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Deductions</B>.
Bank may deduct fees, Bank Expenses, Finance Charges, Advances which become due pursuant to Section&nbsp;2.12 of this
Agreement, and other amounts due pursuant to this Agreement from any Advances made or Collections received by Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Lockbox; Account Collection Services</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower shall direct each Account Debtor (and each depository institution where proceeds of Accounts are on deposit) to
remit payments with respect to the Accounts to a lockbox account established with Bank or to wire transfer payments to a cash collateral
account that Bank controls (collectively, the &ldquo;<B>Lockbox</B>&rdquo;). It will be considered an immediate Event of Default
if the Lockbox is not established and operational on the Effective Date and at all times thereafter until such Lockbox is established
and operational.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon receipt by Borrower of any proceeds of Accounts, Borrower shall immediately transfer and deliver same to Bank, along
with a detailed cash receipts journal.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provided no Event of Default exists or an event that with notice or lapse of time will be an Event of Default, within three
(3) days of receipt of any proceeds of the Accounts by Bank (whether received by Bank in the Lockbox, directly from Borrower,
or otherwise), Bank will turn over to Borrower such proceeds, other than (i) Collections applied by Bank pursuant to Section 2.3
of this Agreement and (ii) such proceeds which shall be used by Bank to repay any other amounts due to Bank, such as the Finance
Charge, the Facility Fee, Collateral Handling Fee, and Bank Expenses; provided, however, Bank may hold any proceeds of the Accounts
(whether received by Bank in the Lockbox, directly from Borrower, or otherwise and whether or not in respect of Financed Receivables)
as a reserve until the end of the applicable Reconciliation Period if Bank, in its reasonable discretion, determines that other
Financed Receivable(s) may no longer qualify as an Eligible Account at any time prior to the end of the subject Reconciliation
Period.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Section&nbsp;2.9 does not impose any affirmative duty on Bank to perform any act other than as specifically set forth
herein. All Accounts and the proceeds thereof are Collateral, and if an Event of Default occurs, Bank may, without notice, apply
the proceeds of such Accounts to the Obligations.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Bank Expenses</B>. Borrower shall pay all Bank Expenses (including reasonable attorneys&rsquo; fees and expenses, plus expenses,
for documentation and negotiation of this Agreement) incurred through and after the Effective Date, when due.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.11<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Good Faith Deposit</B>. Borrower has paid to Bank a deposit of Twenty-Five Thousand Dollars ($25,000) (the &ldquo;<B>Good
Faith Deposit</B>&rdquo;) to initiate Bank&rsquo;s due diligence review process. Any portion of the Good Faith Deposit not utilized
to pay Bank Expenses will be applied to the Facility Fee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.12<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Repayment of Obligations; Adjustments</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><B>2.12.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp; </FONT>Repayment</B>.
Borrower will repay each Advance on the earliest of: (a)&nbsp;the date on which payment is received of the Financed
Receivable with respect to which the Advance was made, (b)&nbsp;the date on which the Financed Receivable is no longer an
Eligible Account, (c)&nbsp;the date on which any Adjustment is asserted to the Financed Receivable (but only to the extent of
the Adjustment if the Financed Receivable otherwise remains an Eligible Account), (d)&nbsp;the date on which there is a
breach of any representation or warranty in Section&nbsp;5.3 of this Agreement or of any covenant in the Loan Documents, or
(e)&nbsp;the Maturity Date (including any early termination). Each payment will also include all accrued Finance Charges and
Collateral Handling Fees with respect to such Advance and all other amounts then due and payable hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><B>2.12.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp; </FONT>Repayment
on Event of Default</B>. When there is an Event of Default, Borrower will, if Bank demands (or, upon the occurrence of an
Event of Default under Section&nbsp;8.5 of this Agreement, immediately without notice or demand from Bank) repay all of
the Obligations. The demand may, at Bank&rsquo;s option, include the Advance for each Financed Receivable then outstanding
and all accrued Finance Charges, the Early Termination Fee, Collateral Handling Fee, attorneys&rsquo; and professional fees,
court costs and expenses, Bank Expenses and any other Obligations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><B>2.12.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>Debit of Accounts</B>. Bank may debit any of Borrower&rsquo;s deposit accounts for payments or any amounts Borrower owes
Bank hereunder. Bank shall promptly notify Borrower when it debits Borrower&rsquo;s accounts. These debits shall not constitute
a set-off.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>2.13<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Power of Attorney</B>. Borrower irrevocably appoints Bank and its successors and assigns as attorney-in-fact and authorizes
Bank and its successors and assigns, regardless of whether there has been an Event of Default, to: (a)&nbsp;sell, assign, transfer,
pledge, compromise, or discharge all or any part of the Financed Receivables; (b)&nbsp;demand, collect, sue, and give releases
to any Account Debtor for monies due and compromise, prosecute, or defend any action, claim, case or proceeding about the Financed
Receivables, including filing a claim or voting a claim in any bankruptcy case in Bank&rsquo;s or Borrower&rsquo;s name, as Bank
chooses; (c)&nbsp;prepare, file and sign Borrower&rsquo;s name on any notice, claim, assignment, demand, draft, or notice of or
satisfaction of lien or mechanics&rsquo; lien or similar document; (d)&nbsp;notify all Account Debtors to pay Bank directly; (e)&nbsp;receive,
open, and dispose of mail addressed to Borrower; (f)&nbsp;endorse Borrower&rsquo;s name on checks or other instruments (to the
extent necessary to pay amounts owed pursuant to this Agreement); and (g)&nbsp;execute on Borrower&rsquo;s behalf any instruments,
documents, financing statements to perfect Bank&rsquo;s interests in the Financed Receivables and Collateral and do all acts and
things necessary or prudent, as determined solely and exclusively by Bank, to protect, preserve, and otherwise enforce Bank&rsquo;s
rights and remedies under the Loan Documents, as directed by Bank.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>CONDITIONS OF LOANS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>3.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions Precedent to Initial Credit Extension</B>. Bank&rsquo;s obligation to make the initial Credit Extension is subject
to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion
of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Loan Documents;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the SVB Control Agreement and any other Control Agreement required by Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower&rsquo;s Operating Documents and a good standing certificate of Borrower certified by the Secretary of State of
the State of Delaware as of a date no earlier than thirty (30) days prior to the Effective Date;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the completed and executed Borrowing Resolutions for Borrower;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>certified copies, dated as of a recent date, of financing statement searches, as Bank shall request, accompanied by written
evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute
Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Perfection Certificate of Borrower, together with the duly executed original signature thereto;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>evidence satisfactory to Bank that the insurance policies required by Section&nbsp;6.4 of this Agreement are in full force
and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses or endorsements in
favor of Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the completion of an initial audit with results satisfactory to Bank in its sole and absolute discretion; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>payment of the fees and Bank Expenses then due as specified in Section&nbsp;2.10 of this Agreement.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>3.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions Precedent to all Credit Extensions</B>. Bank&rsquo;s agreement to make each Credit Extension, including the initial
Credit Extension, is subject to the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>receipt of the Invoice Transmittal;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Bank
shall have (at its option) conducted the confirmations and verifications as described in Section&nbsp;2.1.1(d) of
this Agreement; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>each of the representations and warranties in this Agreement shall be true, accurate, and complete on the date of the Invoice
Transmittal and on the effective date of each Credit Extension and no Event of Default shall have occurred and be continuing, or
result from the Credit Extension. Each Credit Extension is Borrower&rsquo;s representation and warranty on that date that the representations
and warranties in this Agreement remain true, accurate, and complete.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>3.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Covenant to Deliver</B>. Borrower agrees to deliver to Bank each item required to be delivered to Bank under this Agreement
as a condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by
Bank of any such item shall not constitute a waiver by Bank of Borrower&rsquo;s obligation to deliver such item, and the making
of any Credit Extension in the absence of a required item shall be in Bank&rsquo;s sole discretion.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>CREATION OF SECURITY INTEREST</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>4.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Grant of Security Interest</B>. Borrower hereby grants Bank, to secure the payment and performance in full of all of the
Obligations, a continuing security interest in, and pledges to Bank, the Collateral, wherever located, whether now owned or hereafter
acquired or arising, and all proceeds and products thereof. Borrower represents, warrants, and covenants that the security interest
granted herein shall be and shall at all times continue to be a first priority perfected security interest in the Collateral subject
only to Permitted Liens. If Borrower shall at any time acquire a commercial tort claim, Borrower shall promptly notify Bank in
a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in
the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance satisfactory to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If this Agreement
is terminated, Bank&rsquo;s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity obligations)
are repaid in full in cash. Upon payment in full in cash of the Obligations and at such time as this Agreement has been terminated,
Bank shall, at Borrower&rsquo;s sole cost and expense, release its Liens in the Collateral and all rights therein shall revert
to Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>4.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Authorization to File Financing Statements</B>. Borrower hereby authorizes Bank to file financing statements, without notice
to Borrower, with all appropriate jurisdictions to perfect or protect Bank&rsquo;s interest or rights hereunder. Any such financing
statements may indicate the Collateral as &ldquo;all assets of the Debtor&rdquo; or words of similar effect, or as being of an
equal or lesser scope, or with greater detail, all in Bank&rsquo;s discretion.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>REPRESENTATIONS AND WARRANTIES</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower represents
and warrants as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Due Organization and Authorization</B>. Borrower and each of its Subsidiaries are duly existing and in good standing as
Registered Organizations in their respective jurisdictions of formation and are qualified and licensed to do business and are in
good standing in any other jurisdiction in which the conduct of their respective business or ownership of property requires that
they be qualified except where the failure to do so could not reasonably be expected to have a material adverse effect on Borrower&rsquo;s
business. In connection with this Agreement, Borrower has delivered to Bank a completed certificate signed by Borrower, entitled
Perfection Certificate (the &ldquo;<B>Perfection Certificate</B>&rdquo;). Borrower represents and warrants to Bank that (a)&nbsp;Borrower&rsquo;s
exact legal name is that indicated on the Perfection Certificate and on the signature page hereof; (b)&nbsp;Borrower is an organization
of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c)&nbsp;the Perfection Certificate accurately
sets forth Borrower&rsquo;s organizational identification number or accurately states that Borrower has none; (d)&nbsp;the Perfection
Certificate accurately sets forth Borrower&rsquo;s place of business, or, if more than one, its chief executive office as well
as Borrower&rsquo;s mailing address (if different than its chief executive office); (e)&nbsp;Borrower (and each of its predecessors)
has not, in the past five (5) years, changed its jurisdiction of formation, corporate structure, organizational type, or any organizational
number assigned by its jurisdiction; and (f)&nbsp;all other information set forth on the Perfection Certificate pertaining to Borrower
and each of its Subsidiaries is accurate and complete (it being understood and agreed that Borrower may from time to time update
certain information in the Perfection Certificate after the Effective Date to the extent permitted by one or more specific provisions
in this Agreement).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The execution, delivery
and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not (i)&nbsp;conflict
with any of Borrower&rsquo;s organizational documents, (ii)&nbsp;contravene, conflict with, constitute a default under or violate
any material Requirement of Law, (iii)&nbsp;contravene, conflict or violate any applicable order, writ, judgment, injunction, decree,
determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets
may be bound or affected, (iv)&nbsp;require any action by, filing, registration, or qualification with, or Governmental Approval
from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and
effect) or (v)&nbsp;constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in
default under any agreement to which it is a party or by which it is bound in which the default could have a material adverse effect
on Borrower&rsquo;s business.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Collateral</B>. Borrower has good title to, has rights in, and the power to transfer, each item of the Collateral upon which
it purports to grant a Lien hereunder, free and clear of any and all Liens except Permitted Liens. Borrower has no deposit accounts
other than the deposit accounts with Bank, the deposit accounts, if any, described in the Perfection Certificate delivered to Bank
in connection herewith, or of which Borrower has given Bank notice and taken such actions as are necessary to give Bank a perfected
security interest therein. The Accounts are bona fide, existing obligations of the Account Debtors. All Inventory is in all material
respects of good and marketable quality, free from material defects.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Collateral
is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection Certificate.
None of the components of the Collateral are currently being maintained at locations other than as provided in the Perfection
Certificate or as permitted pursuant to Section&nbsp;7.2 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower is the
sole owner of the Intellectual Property which it owns or purports to own except for (a)&nbsp;non-exclusive licenses granted to
its customers in the ordinary course of business, (b)&nbsp;over-the-counter software that is commercially available to the public,
and (c)&nbsp;material Intellectual Property licensed to Borrower and noted on the Perfection Certificate. Each Patent which it
owns or purports to own and which is material to Borrower&rsquo;s business is valid and enforceable, and no part of the Intellectual
Property which Borrower owns or purports to own and which is material to Borrower&rsquo;s business has been judged invalid or unenforceable,
in whole or in part. To the best of Borrower&rsquo;s knowledge, no claim has been made that any part of the Intellectual Property
violates the rights of any third party except to the extent such claim would not reasonably be expected to have a material adverse
effect on Borrower&rsquo;s business. Except as noted on the Perfection Certificate, Borrower is not a party to, nor is it bound
by, any Restricted License.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financed Receivables</B>. Borrower represents and warrants for each Financed Receivable:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Such Financed Receivable is an Eligible Account;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower is the owner of and has the legal right to sell, transfer, assign and encumber such Financed Receivable;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The correct amount is on the Invoice Transmittal and is not disputed;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment is not contingent on any obligation or contract and Borrower has fulfilled all its obligations as of the Invoice
Transmittal date;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Such Financed Receivable is based on an actual sale and delivery of goods and/or services rendered, is due to Borrower,
is not past due or in default, has not been previously sold, assigned, transferred, or pledged and is free of any liens, security
interests and encumbrances other than Permitted Liens;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>There are no defenses, offsets, counterclaims or agreements for which the Account Debtor may claim any deduction or discount;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower reasonably believes no Account Debtor is insolvent or subject to any Insolvency Proceedings;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower has not filed or had filed against it Insolvency Proceedings and does not anticipate any filing;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Bank has the right to endorse and/ or require Borrower to endorse all payments received on Financed Receivables and all
proceeds of Collateral; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No representation, warranty or other statement of Borrower in any certificate or written statement given to Bank contains
any untrue statement of a material fact or omits to state a material fact necessary to make the statement contained in the certificates
or statement not misleading.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Litigation</B>. There are no actions or proceedings pending or, to the knowledge of Borrower&rsquo;s Responsible Officers,
threatened in writing by or against Borrower or any Subsidiary in which an adverse decision could reasonably be expected to cause
a Material Adverse Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Material Deviation in Financial Statements and Deterioration in Financial Condition</B>. All consolidated financial statements
for Borrower and any Subsidiary delivered to Bank fairly present in all material respects Borrower&rsquo;s consolidated financial
condition and Borrower&rsquo;s consolidated results of operations. There has not been any material deterioration in Borrower&rsquo;s
consolidated financial condition since the date of the most recent financial statements submitted to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Solvency</B>. The fair salable value of Borrower&rsquo;s assets (including goodwill minus disposition costs) exceeds the
fair value of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and
Borrower is able to pay its debts (including trade debts) as they mature.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Regulatory Compliance</B>. Borrower is not an &ldquo;investment company&rdquo; or a company &ldquo;controlled&rdquo; by
an &ldquo;investment company&rdquo; under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its
important activities in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors).
Borrower has complied in all material respects with the Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances
or rules, the violation of which could reasonably be expected to cause a Material Adverse Change. None of Borrower&rsquo;s or any
Subsidiary&rsquo;s properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower&rsquo;s knowledge,
by previous Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower
and each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations or filings with,
and given all notices to, all Governmental Authorities that are necessary to continue their respective businesses as currently
conducted.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subsidiaries</B>. Borrower does not own any stock, partnership interest or other equity securities except for Permitted
Investments.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Tax Returns and Payments; Pension Contributions</B>. Borrower and each Subsidiary have timely filed all required tax returns
and reports, and Borrower and each Subsidiary have timely paid all foreign, federal, state and local taxes, assessments, deposits
and contributions owed by Borrower and each Subsidiary. Borrower may defer payment of any contested taxes, provided that Borrower
(a)&nbsp;in good faith contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and
conducted, (b)&nbsp;notifies Bank in writing of the commencement of, and any material development in, the proceedings and (c)&nbsp;posts
bonds or takes any other steps required to prevent the Governmental Authority levying such contested taxes from obtaining a Lien
upon any of the Collateral that is other than a &ldquo;Permitted Lien&rdquo;. Borrower is unaware of any claims or adjustments
proposed for any of Borrower&rsquo;s prior tax years which could result in additional taxes becoming due and payable by Borrower.
Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance
with their terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of,
or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any
liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental
agency.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>5.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Full Disclosure</B>. No written representation, warranty or other statement of Borrower in any certificate or written statement
given to Bank, as of the date such representation, warranty, or other statement was made, taken together with all such written
certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a material
fact necessary to make the statements contained in the certificates or statements not misleading (it being recognized by Bank that
any projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts
and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or
forecasted results).</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>AFFIRMATIVE COVENANTS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower shall do
all of the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Government Compliance</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Maintain its and all its Subsidiaries&rsquo; legal existence and good standing in their respective jurisdictions of formation
and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material
adverse effect on Borrower&rsquo;s business or operations. Borrower shall comply, and have each Subsidiary comply, with all laws,
ordinances and regulations to which it is subject, noncompliance with which could have a material adverse effect on Borrower&rsquo;s
business.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Obtain all of the Governmental Approvals necessary for the performance by Borrower of its obligations under the Loan Documents
to which it is a party and the grant of a security interest to Bank in all of its property. Borrower shall promptly provide copies
of any such obtained Governmental Approvals to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Deliver to Bank, within five (5) days after the same are sent or received, copies of all correspondence, reports, documents
and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements
of Law or that could reasonably be expected to have a material adverse effect on any of the Governmental Approvals or otherwise
on the operations of Borrower or any of its Subsidiaries.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial Statements, Reports, Certificates</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Deliver to Bank: (i)&nbsp;as soon as available, but no later than thirty (30) days after the last day of each Reconciliation
Period, a company prepared consolidated balance sheet and income statement covering Borrower&rsquo;s consolidated operations during
the period certified by a Responsible Officer and in a form acceptable to Bank; (ii)&nbsp;as soon as available, but no later than
one hundred twenty (120) days after the last day of Borrower&rsquo;s fiscal year, audited consolidated financial statements prepared
under GAAP, consistently applied, together with an unqualified opinion on the financial statements from an independent certified
public accounting firm reasonably acceptable to Bank; (iii)&nbsp;within five (5) days of filing, copies of all statements, reports
and notices made available to Borrower&rsquo;s security holders or to any holders of Subordinated Debt and all reports on Form&nbsp;10-K,
10-Q and 8-K filed with the SEC; (iv)&nbsp;a prompt report of any legal actions pending or threatened against Borrower or any Subsidiary
that could result in damages or costs to Borrower or any Subsidiary of One Hundred Thousand Dollars ($100,000.00) or more; (v)&nbsp;as
soon as available, but no later than thirty (30) days after approval by Borrower&rsquo;s Board of Directors, annual financial projections
for the following fiscal year approved by Borrower&rsquo;s Board of Directors and commensurate in form and substance with those
provided to Borrower&rsquo;s venture capital investors, together with any related business forecasts used in the preparation of
such annual financial plans and projections and (vi)&nbsp;budgets, sales projections, operating plans or other financial information
reasonably requested by Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Within thirty (30) days after the last day of each Reconciliation Period, deliver to Bank with the monthly financial statements
a Compliance Certificate signed by a Responsible Officer in the form of <U>Exhibit&nbsp;B</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Allow Bank to inspect the Collateral and audit and copy Borrower&rsquo;s Books, including, but not limited to, Borrower&rsquo;s
Accounts, upon reasonable notice to Borrower. Unless an Event of Default has occurred and is continuing, such inspections or audits
shall be conducted no more often than twice every twelve (12) months and will not last more than 2-3 days. The foregoing inspections
and audits shall be at Borrower&rsquo;s expense, and the charge therefor shall be $850 per person per day (or such higher amount
as shall represent Bank&rsquo;s then-current standard charge for the same), plus reasonable out-of-pocket expenses. In the event
Borrower and Bank schedule an audit more than ten (10) days in advance, and Borrower cancels or seeks to reschedule the audit with
less than ten (10) days written notice to Bank, then (without limiting any of Bank&rsquo;s rights or remedies), Borrower shall
pay Bank a fee of $1,000 plus any out-of-pocket expenses incurred by Bank to compensate Bank for the anticipated costs and expenses
of the cancellation or rescheduling. After the occurrence of an Event of Default, Bank may audit Borrower&rsquo;s Collateral at
Borrower&rsquo;s expense, including, but not limited to, Borrower&rsquo;s Accounts as frequently as Bank deems necessary at Borrower&rsquo;s
expense and at Bank&rsquo;s sole and exclusive discretion, without notification to and authorization from Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon Bank&rsquo;s request, provide a written report on any Financed Receivable, where payment of such Financed Receivable
does not occur by its due date and include the reasons for the delay.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provide Bank with, as soon as available, but no later than thirty (30) days following each Reconciliation Period, (i) an
aged listing of accounts receivable and accounts payable by invoice date, (ii) distributor sell-through reports, and (iii) backlog
report, all in form and detail acceptable to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provide Bank with, as soon as available, but no later than thirty (30) days following each Reconciliation Period, a Deferred
Revenue report, in form and detail acceptable to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provide Bank prompt written notice of (i)&nbsp;any material change in the composition of the Intellectual Property, (ii)&nbsp;the
registration of any Copyright, including any subsequent ownership right of Borrower in or to any Copyright, Patent or Trademark
not shown in the IP Agreement, and (iii)&nbsp;Borrower&rsquo;s knowledge of an event that could reasonably be expected to materially
and adversely affect the value of the Intellectual Property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Taxes</B>. Make, and cause each Subsidiary to make, timely payment of all foreign, federal, state, and local taxes or assessments
(other than taxes and assessments which Borrower is contesting in good faith, with adequate reserves maintained in accordance with
GAAP) and will deliver to Bank, on demand, appropriate certificates attesting to such payments.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Insurance</B>. Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower&rsquo;s
industry and location, and as Bank may reasonably request. Insurance policies shall be in a form, with companies, and in amounts
that are satisfactory to Bank. All property policies shall have a lender&rsquo;s loss payable endorsement showing Bank as the
sole lender loss payee and waive subrogation against Bank, and all liability policies shall show, or have endorsements showing,
Bank as an additional insured. All policies (or the lender loss payable and additional insured endorsements) shall provide that
the insurer must give Bank at least twenty (20) days notice before canceling, amending, or declining to renew its policy. At Bank&rsquo;s
request, Borrower shall deliver certified copies of policies and evidence of all premium payments. Proceeds payable under any
policy shall, at Bank&rsquo;s option, be payable to Bank on account of the Obligations. If Borrower fails to obtain insurance
as required under this Section&nbsp;6.4 or to pay any amount or furnish any required proof of payment to third persons and Bank,
Bank may make all or part of such payment or obtain such insurance policies required in this Section&nbsp;6.4, and take any action
under the policies Bank deems prudent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To permit Bank to monitor Borrower&rsquo;s financial performance and condition, maintain Borrower&rsquo;s primary depository
and operating accounts and investment accounts with Bank and Bank&rsquo;s Affiliates.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provide Bank five (5) days prior written notice before establishing any Collateral Account at or with any bank or financial
institution other than Bank or Bank&rsquo;s Affiliates. For each Collateral Account that Borrower at any time maintains, Borrower
shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral Account is maintained
to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Bank&rsquo;s
Lien in such Collateral Account in accordance with the terms hereunder which Control Agreement may not be terminated without the
prior written consent of Bank. The provisions of the previous sentence shall not apply to deposit accounts exclusively used for
payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower&rsquo;s employees and identified
to Bank by Borrower as such.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Inventory; Returns; Notices of Adjustments</B>. Keep all Inventory in good and marketable condition, free from material
defects. Returns and allowances between Borrower and its Account Debtors shall follow Borrower&rsquo;s customary practices as they
exist at the Effective Date. If, at any time during the term of this Agreement, any Account Debtor asserts an Adjustment in excess
of Fifty Thousand Dollars ($50,000), Borrower issues a credit memorandum, or any representation, warranty or covenant set forth
in this Agreement or the other Loan Documents is no longer true in all material respects, Borrower will promptly advise Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial Covenants</B>. Maintain at all times, to be tested<B> </B>as of the last day of each month, unless otherwise noted:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&#9;<U>Liquidity
Ratio</U>. A ratio of Quick Assets to outstanding Obligations of not less than 2.0:1.0.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Protection and Registration of Intellectual Property Rights</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i)&nbsp;Protect, defend and maintain the validity and enforceability of its Intellectual Property; (ii)&nbsp;promptly advise
Bank in writing of material infringements of its Intellectual Property; and (iii)&nbsp;not allow any Intellectual Property material
to Borrower&rsquo;s business to be abandoned, forfeited or dedicated to the public without Bank&rsquo;s written consent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If Borrower (i)&nbsp;obtains any Patent, registered Trademark, registered Copyright, registered mask work, or any pending
application for any of the foregoing, whether as owner, licensee or otherwise, or (ii)&nbsp;applies for any Patent or the registration
of any Trademark, then Borrower shall immediately provide written notice thereof to Bank and shall execute such intellectual property
security agreements and other documents and take such other actions as Bank shall request in its good faith business judgment to
perfect and maintain a first priority perfected security interest in favor of Bank in such property. If Borrower decides to register
any Copyrights or mask works in the United States Copyright Office, Borrower shall: (x)&nbsp;provide Bank with at least fifteen
(15) days prior written notice of Borrower&rsquo;s intent to register such Copyrights or mask works together with a copy of the
application it intends to file with the United States Copyright Office (excluding exhibits thereto); (y)&nbsp;execute an intellectual
property security agreement and such other documents and take such other actions as Bank may request in its good faith business
judgment to perfect and maintain a first priority perfected security interest in favor of Bank in the Copyrights or mask works
intended to be registered with the United States Copyright Office; and (z)&nbsp;record such intellectual property security agreement
with the United States Copyright Office contemporaneously with filing the Copyright or mask work application(s) with the United
States Copyright Office. Borrower shall promptly provide to Bank copies of all applications that it files for Patents or for the
registration of Trademarks, Copyrights or mask works, together with evidence of the recording of the intellectual property security
agreement necessary for Bank to perfect and maintain a first priority perfected security interest in such property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Provide written notice to Bank within ten (10) days of entering or becoming bound by any Restricted License (other than
over-the-counter software that is commercially available to the public). Borrower shall take such steps as Bank requests to obtain
the consent of, or waiver by, any person whose consent or waiver is necessary for (i)&nbsp;any Restricted License to be deemed
&ldquo;Collateral&rdquo; and for Bank to have a security interest in it that might otherwise be restricted or prohibited by law
or by the terms of any such Restricted License, whether now existing or entered into in the future, and (ii)&nbsp;Bank to have
the ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Bank&rsquo;s rights
and remedies under this Agreement and the other Loan Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Litigation Cooperation</B>. From the Effective Date and continuing through the termination of this Agreement, make available
to Bank, without expense to Bank, Borrower and its officers, employees and agents and Borrower&rsquo;s Books, to the extent that
Bank may deem them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against Bank
with respect to any Collateral or relating to Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>6.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Further Assurances</B>. Execute any further instruments and take further action as Bank reasonably requests to perfect or
continue Bank&rsquo;s Lien in the Collateral or to effect the purposes of this Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>NEGATIVE COVENANTS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower shall not
do any of the following without Bank&rsquo;s prior written consent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Dispositions</B>. Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively a &ldquo;<B>Transfer</B>&rdquo;),
or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a)&nbsp;of Inventory
in the ordinary course of business; (b)&nbsp;of worn-out or obsolete Equipment; and (c)&nbsp;in connection with Permitted Liens
and Permitted Investments.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Changes in Business, Management, Ownership, or Business Locations</B>. (a)&nbsp;Engage in or permit any of its Subsidiaries
to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably
related thereto; (b)&nbsp;liquidate or dissolve; or (c)&nbsp;(i)&nbsp;have a change in management; or (ii)&nbsp;enter into any
transaction or series of related transactions in which the stockholders of Borrower who were not stockholders immediately prior
to the first such transaction own more than forty percent (40%) of the voting stock of Borrower immediately after giving effect
to such transaction or related series of such transactions (other than by the sale of Borrower&rsquo;s equity securities in a public
offering or to venture capital investors so long as Borrower identifies to Bank the venture capital investors prior to the closing
of the transaction and provides to Bank a description of the material terms of the transaction).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower shall not,
without at least thirty (30) days prior written notice to Bank: (1)&nbsp;add any new offices or business locations, including warehouses
(unless such new offices or business locations contain less than Five Thousand Dollars ($5,000) in Borrower&rsquo;s assets or property),
(2)&nbsp;change its jurisdiction of organization, (3)&nbsp;change its organizational structure or type, (4)&nbsp;change its legal
name, (5)&nbsp;change any organizational number (if any) assigned by its jurisdiction of organization, or (6)&nbsp;deliver any
portion of the Collateral to a bailee, unless (i)&nbsp;such bailee location contains less than Five Thousand Dollars ($5,000) in
Borrower&rsquo;s assets or property and (ii)&nbsp;Bank and such bailee are parties to a bailee agreement governing both the Collateral
and the location to which Borrower intends to deliver the Collateral.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower hereby
agrees upon Borrower adding any new office or business location, including any warehouse, Borrower will cause its landlord to enter
into a landlord consent in favor of Bank prior to such new office or business location containing Five Thousand Dollars ($5,000)
of Collateral.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower hereby
agrees that prior to Borrower delivering any Collateral to a bailee, Borrower shall cause such bailee to execute and deliver a
bailee agreement in form and substance satisfactory to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Mergers or Acquisitions</B>. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other
Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of
another Person. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness</B>. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than
Permitted Indebtedness.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Encumbrance</B>. Create, incur, allow, or suffer any Lien on any of its property, or assign or convey any right to receive
income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit
any Collateral not to be subject to the first priority security interest granted herein, or enter into any agreement, document,
instrument or other arrangement (except with or in favor of Bank) with any Person which directly or indirectly prohibits or has
the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or
upon, or encumbering any of Borrower&rsquo;s or any Subsidiary&rsquo;s Intellectual Property, except as is otherwise permitted
in Section&nbsp;7.1 of this Agreement and the definition of &ldquo;Permitted Liens&rdquo; herein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Maintenance of Collateral Accounts</B>. Maintain any Collateral Account except pursuant to the terms of Section&nbsp;6.5
of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Distributions; Investments</B>. (a)&nbsp;Directly or indirectly acquire or own any Person, or make any Investment in any
Person, other than Permitted Investments, or permit any of its Subsidiaries to do so; or (b)&nbsp;pay any dividends or make any
distribution or payment or redeem, retire or purchase any capital stock.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transactions with Affiliates</B>. Directly or indirectly enter into or permit to exist any material transaction with any
Affiliate of Borrower, except for transactions that are in the ordinary course of Borrower&rsquo;s business, upon fair and reasonable
terms that are no less favorable to Borrower than would be obtained in an arm&rsquo;s length transaction with a non-affiliated
Person.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subordinated Debt</B>. (a)&nbsp;Make or permit any payment on any Subordinated Debt, except under the terms of the subordination,
intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b)&nbsp;amend any provision in any document
relating to the Subordinated Debt which would increase the amount owed by Borrower thereof, shorten the maturity thereof, increase
the rate of interest applicable thereto or adversely affect the subordination thereof to Obligations owed to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>7.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Compliance</B>. Become an &ldquo;investment company&rdquo; or a company controlled by an &ldquo;investment company&rdquo;,
under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase
or carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds
of any Credit Extension for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or
Prohibited Transaction, each as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate
any other law or regulation, if the violation could reasonably be expected to have a material adverse effect on Borrower&rsquo;s
business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit
partial or complete termination of, or permit the occurrence of any other event with respect to, any present pension, profit sharing
and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability
to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EVENTS OF DEFAULT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any one of the following
shall constitute an event of default (an &ldquo;<B>Event of Default</B>&rdquo;) under this Agreement:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment Default</B>. Borrower fails to pay any of the Obligations when due;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Covenant
Default</B>. Borrower fails or neglects to perform any obligation in Section&nbsp;2.9 or Section&nbsp;6 of this Agreement or
violates any covenant in Section&nbsp;7 of this Agreement or fails or neglects to perform, keep, or observe any
other material term, provision, condition, covenant or agreement contained in this Agreement, any Loan Documents, or in any
present or future agreement between Borrower and Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Material Adverse Change</B>. A Material Adverse Change occurs;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Attachment; Levy; Restraint on Business</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i)&nbsp;The service of process seeking to attach, by trustee or similar process, any funds of Borrower or of any entity
under the control of Borrower (including a Subsidiary) on deposit or otherwise maintained with Bank or any Bank Affiliate, or (ii)&nbsp;a
notice of lien or levy is filed against any of Borrower&rsquo;s assets by any government agency, and the same under subclauses
(i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting
of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) day cure period; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i)&nbsp;any material portion of Borrower&rsquo;s assets is attached, seized, levied on, or comes into possession of a trustee
or receiver, or (ii)&nbsp;any court order enjoins, restrains, or prevents Borrower from conducting any material part of its business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Insolvency</B>. (a)&nbsp;Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes
insolvent; (b)&nbsp;Borrower begins an Insolvency Proceeding; or (c)&nbsp;an Insolvency Proceeding is begun against Borrower and
not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while any of the conditions described in
clause&nbsp;(a) exist and/or until any Insolvency Proceeding is dismissed);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Other Agreements</B>. There is, under any agreement to which Borrower is a party with a third party or parties, (a)&nbsp;any
default resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness
in an amount individually or in the aggregate in excess of One Hundred Thousand Dollars ($100,000); or (b)&nbsp;any default by
Borrower, the result of which could result in a Material Adverse Change to Borrower&rsquo;s business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Judgments</B>. One or more final judgments, orders, or decrees for the payment of money in an amount, individually or in
the aggregate, of at least Fifty Thousand Dollars ($50,000) (not covered by independent third-party insurance as to which liability
has been accepted by such insurance carrier) shall be rendered against Borrower and the same are not, within ten (10) days after
the entry thereof, discharged or execution thereof stayed or bonded pending appeal, or such judgments are not discharged prior
to the expiration of any such stay (provided that no Credit Extensions will be made prior to the discharge, stay, or bonding of
such judgment, order, or decree);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Misrepresentations</B>. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement
now or later in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement
or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subordinated Debt</B>. Any document, instrument, or agreement evidencing any Subordinated Debt shall for any reason be revoked
or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner
the validity or enforceability thereof or deny that it has any further liability or obligation thereunder, or the Obligations shall
for any reason be subordinated or shall not have the priority contemplated by this Agreement;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Governmental Approvals</B>. Any Governmental Approval shall have been (a)&nbsp;revoked, rescinded, suspended, modified in
an adverse manner or not renewed in the ordinary course for a full term or (b)&nbsp;subject to any decision by a Governmental Authority
that designates a hearing with respect to any applications for renewal of any of such Governmental Approval or that could result
in the Governmental Authority taking any of the actions described in clause&nbsp;(a) above, and such decision or such revocation,
rescission, suspension, modification or non-renewal (i)&nbsp;has, or could reasonably be expected to have, a Material Adverse Change,
or (ii)&nbsp;adversely affects the legal qualifications of Borrower or any of its Subsidiaries to hold such Governmental Approval
in any applicable jurisdiction and such revocation, rescission, suspension, modification or non-renewal could reasonably be expected
to affect the status of or legal qualifications of Borrower or any of its Subsidiaries to hold any Governmental Approval in any
other jurisdiction;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.11<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Cross-Default with EXIM Loan Agreement.</B> An Event of Default shall occur under the EXIM Loan Agreement and such Event
of Default is not cured within any applicable grace period provided therein; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>8.12<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Cross-Default with EXIM Borrower Agreement.</B> An Event of Default shall occur under the EXIM Borrower Agreement and such
Event of Default is not cured within any applicable grace period provided therein.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>BANK&rsquo;S RIGHTS AND REMEDIES</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>9.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Rights and Remedies</B>. When an Event of Default occurs and continues beyond any applicable grace period Bank may, without
notice or demand, do any or all of the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>declare all Obligations immediately due and payable (but if an Event of Default described in Section&nbsp;8.5 of this Agreement
occurs, all Obligations are immediately due and payable without any action by Bank);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>stop advancing money or extending credit for Borrower&rsquo;s benefit under this Agreement or under any other agreement
between Borrower and Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>settle or adjust disputes and claims directly with Account Debtors for amounts, on terms and in any order that Bank considers
advisable and notify any Person owing Borrower money of Bank&rsquo;s security interest in such funds and verify the amount of such
account. Borrower shall collect all payments in trust for Bank and, if requested by Bank, immediately deliver the payments to Bank
in the form received from the Account Debtor, with proper endorsements for deposit;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any payments and do any acts it considers necessary or reasonable to protect its security interest in the Collateral.
Borrower shall assemble the Collateral if Bank requests and make it available as Bank designates. Bank may enter premises where
the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise
any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license
to enter and occupy any of its premises, without charge, to exercise any of Bank&rsquo;s rights or remedies;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>apply to the Obligations any (i)&nbsp;balances and deposits of Borrower it holds, or (ii)&nbsp;any amount held by Bank owing
to or for the credit or the account of Borrower;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral.
Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower&rsquo;s labels, Patents,
Copyrights, mask works, rights of use of any name, trade secrets, trade names, Trademarks, and advertising matter, or any similar
property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and,
in connection with Bank&rsquo;s exercise of its rights under this Section&nbsp;9.1, Borrower&rsquo;s rights under all licenses
and all franchise agreements inure to Bank&rsquo;s benefit;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>place a &ldquo;hold&rdquo; on any account maintained with Bank and/or deliver a notice of exclusive control, any entitlement
order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>demand and receive possession of Borrower&rsquo;s Books; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>exercise all rights and remedies available to Bank under the Loan Documents or at law or equity, including all remedies
provided under the Code (including disposal of the Collateral pursuant to the terms thereof).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>9.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Protective Payments</B>. If Borrower fails to obtain the insurance called for by Section&nbsp;6.4 of this Agreement or
fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any
other Loan Document, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and
immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral.
Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained
or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or
Bank&rsquo;s waiver of any Event of Default.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>9.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Bank&rsquo;s Liability for Collateral</B>. So long as Bank complies with reasonable banking practices regarding the safekeeping
of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a)&nbsp;the safekeeping
of the Collateral; (b)&nbsp;any loss or damage to the Collateral; (c)&nbsp;any diminution in the value of the Collateral; or (d)&nbsp;any
act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of
the Collateral.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>9.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Waiver; Remedies Cumulative</B>. Bank&rsquo;s failure, at any time or times, to require strict performance by Borrower
of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter
to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the
party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Bank&rsquo;s
rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and remedies provided
under the Code, by law, or in equity. Bank&rsquo;s exercise of one right or remedy is not an election and shall not preclude Bank
from exercising any other remedy under this Agreement or other remedy available at law or in equity, and Bank&rsquo;s waiver of
any Event of Default is not a continuing waiver. Bank&rsquo;s delay in exercising any remedy is not a waiver, election, or acquiescence.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>9.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Demand Waiver</B>. Borrower waives demand, notice of default or dishonor, notice of payment and nonpayment, notice of any
default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel
paper, and guarantees held by Bank on which Borrower is liable.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>NOTICES</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All notices, consents,
requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be in writing
and shall be deemed to have been validly served, given, or delivered: (a)&nbsp;upon the earlier of actual receipt and three (3)
Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper
postage prepaid; (b)&nbsp;upon transmission, when sent by electronic mail or facsimile transmission; (c)&nbsp;one (1) Business
Day after deposit with a reputable overnight courier with all charges prepaid; or (d)&nbsp;when delivered, if hand-delivered by
messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address
indicated below. Bank or Borrower may change its mailing or electronic mail address or facsimile number by giving the other party
written notice thereof in accordance with the terms of this Section&nbsp;10.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 66pt">If to Borrower:&#9; Socket Mobile, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 154pt">39700 Eureka Drive</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 154pt">Newark,
California 94560</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 154pt">Attn: David Dunlap, Chief Financial Officer</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 154pt">Fax: 510-933-3104<BR>
Email: <U>dave@socketmobile.com</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: -1.5in">If to Bank:&#9;Silicon Valley Bank</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 242pt; text-indent: -1.5in">2400
Hanover St.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 242pt; text-indent: -1.5in">Palo Alto, California 94304</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 242pt; text-indent: -1.5in">Attn: Minal Patel</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 242pt; text-indent: -1.5in">Fax: (650) 494-1377</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 242pt; text-indent: -1.5in">Email: <U>mpatel@svb.com</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>CHOICE OF LAW, VENUE, JURY TRIAL WAIVER AND JUDICIAL REFERENCE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">California law
governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the exclusive jurisdiction
of the State and Federal courts in Santa Clara County, California; provided, however, that nothing in this Agreement shall be
deemed to operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction to realize on the
Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower
expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and Borrower
hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens
and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court. Borrower hereby
waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of
such summons, complaints, and other process may be made by registered or certified mail addressed to Borrower at the address set
forth in, or subsequently provided to Borrower in accordance with, Section&nbsp;10 of this Agreement and that service so made
shall be deemed completed upon the earlier to occur of Borrower&rsquo;s actual receipt thereof or three (3) days after deposit
in the U.S. mails, proper postage prepaid.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING
OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY
AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED
THIS WAIVER WITH ITS COUNSEL.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WITHOUT INTENDING
IN ANY WAY TO LIMIT THE PARTIES&rsquo; AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the
right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature
between them arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they
cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in accordance with California
Code of Civil Procedure Section&nbsp;638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive
jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the parties hereby submit to
the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions
of California Code of Civil Procedure &sect;&sect;&nbsp;638 through 645.1, inclusive. The private judge shall have the power, among
others, to grant provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and
permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records
relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief,
but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the
Santa Clara County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the
same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be
entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable
to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders applicable to
judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge
shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement
of decision thereon pursuant to California Code of Civil Procedure &sect;&nbsp;644(a). Nothing in this paragraph shall limit the
right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The
private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>GENERAL PROVISIONS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Successors and Assigns</B>. This Agreement binds and is for the benefit of the successors and permitted assigns of each
party. Borrower may not assign this Agreement or any rights or obligations under it without Bank&rsquo;s prior written consent
(which may be granted or withheld in Bank&rsquo;s discretion). Bank has the right, without the consent of or notice to Borrower,
to sell, transfer, assign, negotiate, or grant participation in all or any part of, or any interest in, Bank&rsquo;s obligations,
rights, and benefits under this Agreement and the other Loan Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indemnification</B>. Borrower agrees to indemnify, defend and hold Bank and its directors, officers, employees, agents,
attorneys, or any other Person affiliated with or representing Bank (each, an &ldquo;<B>Indemnified Person</B>&rdquo;) harmless
against: (a)&nbsp;all obligations, demands, claims, and liabilities (collectively, &ldquo;<B>Claims</B>&rdquo;) claimed or asserted
by any other party in connection with the transactions contemplated by the Loan Documents; and (b)&nbsp;all losses or expenses
(including Bank Expenses) in any way suffered, incurred, or paid by such Indemnified Person as a result of, following from, consequential
to, or arising from transactions between Bank and Borrower (including reasonable attorneys&rsquo; fees and expenses), except for
Claims and/or losses directly caused by such Indemnified Person&rsquo;s gross negligence or willful misconduct.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Right of Set-Off</B>. Borrower hereby grants to Bank, a lien, security interest and right of setoff as security for all
Obligations to Bank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property,
now or hereafter in the possession, custody, safekeeping or control of Bank or any entity under the control of Bank (including
a Bank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default,
without demand or notice, Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower
even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE
BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING
ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND
IRREVOCABLY WAIVED.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Time of Essence</B>. Time is of the essence for the performance of all Obligations in this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Correction of Loan Documents</B>. Bank may correct patent errors and fill in any blanks in the Loan Documents consistent
with the agreement of the parties.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Severability of Provisions</B>. Each provision of this Agreement is severable from every other provision in determining
the enforceability of any provision.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Amendments in Writing; Waiver; Integration</B>. No purported amendment or modification of any Loan Document, or waiver,
discharge or termination of any obligation under any Loan Document, shall be enforceable or admissible unless, and only to the
extent, expressly set forth in a writing signed by the party against which enforcement or admission is sought. Without limiting
the generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance
or course of conduct shall operate as, or evidence, an amendment, supplement or waiver or have any other effect on any Loan Document.
Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any subsequent
or other circumstance, whether similar or dissimilar, or give rise to, or evidence, any obligation or commitment to grant any further
waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements.
All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter
of the Loan Documents merge into the Loan Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Counterparts</B>. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts,
each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Survival</B>.
All covenants, representations and warranties made in this Agreement continue in full force until this Agreement has
terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other
obligations which, by their terms, are to survive the termination of this Agreement) have been paid in full and satisfied.
The obligation of Borrower in Section&nbsp;12.2 of this Agreement to indemnify Bank shall survive until the statute of
limitations with respect to such claim or cause of action shall have run.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Confidentiality</B>. In handling any confidential information, Bank shall exercise the same degree of care that it exercises
for its own proprietary information, but disclosure of information may be made: (a)&nbsp;to Bank&rsquo;s Subsidiaries or Affiliates
(such Subsidiaries and Affiliates, together with Bank, each a &ldquo;<B>Bank Entity</B>&rdquo; and collectively, the &ldquo;<B>Bank
Entities</B>&rdquo;); (b)&nbsp;to prospective transferees or purchasers of any interest in the Credit Extensions (provided, however,
Bank shall use commercially reasonable efforts to obtain any prospective transferee&rsquo;s or purchaser&rsquo;s agreement to
the terms of this Section&nbsp;12.10); (c)&nbsp;as required by law, regulation, subpoena, or other order; (d)&nbsp;to Bank&rsquo;s
regulators or as otherwise required in connection with Bank&rsquo;s examination or audit; (e)&nbsp; as Bank considers appropriate
in exercising remedies under the Loan Documents; and (f)&nbsp;to third-party service providers of Bank so long as such service
providers have executed a confidentiality agreement with Bank with terms no less restrictive than those contained herein. Confidential
information does not include information that is: (i)&nbsp;either in the public domain other than as a result of Bank&rsquo;s
breach of this section or is in Bank&rsquo;s possession when disclosed to Bank; or (ii)&nbsp;disclosed to Bank by a third party
on a nonconfidential basis if Bank does not know that the third party is prohibited from disclosing the information.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Bank Entities may
use the confidential information for reporting purposes and the development and distribution of databases and market analyses so
long as such confidential information is aggregated and anonymized prior&nbsp;to distribution unless otherwise expressly prohibited
by Borrower. The provisions of the immediately preceding sentence shall survive the termination of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.11<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Electronic Execution of Documents</B>. The words &ldquo;execution,&rdquo; &ldquo;signed,&rdquo; &ldquo;signature&rdquo;
and words of like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity and enforceability as a manually executed signature or the use
of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including,
without limitation, any state law based on the Uniform Electronic Transactions Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.12<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Captions</B>. The headings used in this Agreement are for convenience only and shall not affect the interpretation of this
Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.13<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Construction of Agreement</B>. The parties mutually acknowledge that they and their attorneys have participated in the preparation
and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties
caused the uncertainty to exist.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.14<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Relationship</B>. The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement.
The parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties
or incidents different from those of parties to an arm&rsquo;s-length contract.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>12.15<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Third Parties</B>. Nothing in this Agreement, whether express or implied, is intended to: (a)&nbsp;confer any benefits,
rights or remedies under or by reason of this Agreement on any persons other than the express parties to it and their respective
permitted successors and assigns; (b)&nbsp;relieve or discharge the obligation or liability of any person not an express party
to this Agreement; or (c)&nbsp;give any person not an express party to this Agreement any right of subrogation or action against
any party to this Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: justify; text-indent: 0.5in">13.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>DEFINITIONS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>13.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Definitions</B>. As used in the Loan Documents, the word &ldquo;shall&rdquo; is mandatory, the word &ldquo;may&rdquo; is
permissive, the word &ldquo;or&rdquo; is not exclusive, the words &ldquo;includes&rdquo; and &ldquo;including&rdquo; are not limiting,
the singular includes the plural, and numbers denoting amounts that are set off in brackets are negative. As used in this Agreement,
the following capitalized terms have the following meanings:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Account</B>&rdquo;
is any &ldquo;account&rdquo; as defined in the Code with such additions to such term as may hereafter be made, and includes, without
limitation, all accounts receivable and other sums owing to Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Account
Debtor</B>&rdquo; is as defined in the Code and shall include, without limitation, any person liable on any Financed Receivable,
such as, a guarantor of the Financed Receivable and any issuer of a letter of credit or banker&rsquo;s acceptance.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Adjusted
Quick Ratio</B>&rdquo; is the ratio of (a)&nbsp;Quick Assets to (b)&nbsp;Current Liabilities minus Deferred Revenue.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Adjustments</B>&rdquo;
are all discounts, allowances, returns, recoveries, disputes, claims of any kind (including, without limitation, counterclaims
or warranty claims), offsets, defenses, rights of recoupment, rights of return, or short payments, asserted by or on behalf of
any Account Debtor for any Financed Receivable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Advance</B>&rdquo;
is defined in Section&nbsp;2.1.1 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Advance
Rate</B>&rdquo; is eighty percent (80.0%) (other than Distributor Accounts for which such percentage shall be sixty percent (60%)),
net of any offsets related to each specific Account Debtor, or such other percentage as Bank establishes under Section&nbsp;2.1.1
of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Affiliate</B>&rdquo;
of any Person is a Person that owns or controls directly or indirectly the Person, any Person that controls or is controlled by
or is under common control with the Person, and each of that Person&rsquo;s senior executive officers, directors, partners, and,
for any Person that is a limited liability company, that Person&rsquo;s managers and members.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Agreement</B>&rdquo;
is defined in the preamble of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Applicable
Rate</B>&rdquo; is a per annum rate equal to the greater of (a) the Prime Rate plus one percent (1%) or (b) five percent (5%).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Bank</B>&rdquo;
is defined in the preamble of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Bank Entities</B>&rdquo;
is defined in Section&nbsp;12.10</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Bank Expenses</B>&rdquo;
are all audit fees and expenses, costs, and expenses (including reasonable attorneys&rsquo; fees and expenses) for preparing, amending,
negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection
with appeals or Insolvency Proceedings) or otherwise incurred with respect to Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Borrower</B>&rdquo;
is defined in the preamble of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Borrower&rsquo;s
Books</B>&rdquo; are all Borrower&rsquo;s books and records including ledgers, federal and state tax returns, records regarding
Borrower&rsquo;s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or
storage or any equipment containing such information.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Borrowing
Resolutions</B>&rdquo; are, with respect to any Person, those resolutions substantially in the form attached hereto as <U>Exhibit&nbsp;C</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Business
Day</B>&rdquo; is any day that is not a Saturday, Sunday or a day on which Bank is closed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Cash Equivalents</B>&rdquo;
means (a)&nbsp;marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State
thereof having maturities of not more than one (1) year from the date of acquisition; (b)&nbsp;commercial paper maturing no more
than one (1) year after its creation and having the highest rating from either Standard &amp; Poor&rsquo;s Ratings Group or Moody&rsquo;s
Investors Service, Inc.; and (c)&nbsp;Bank&rsquo;s certificates of deposit issued maturing no more than one (1) year after issue.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Claims</B>&rdquo;
is defined in Section&nbsp;12.2 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Code</B>&rdquo;
is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of California; provided,
that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently
in different Articles or Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern; provided
further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority
of, or remedies with respect to, Bank&rsquo;s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a
jurisdiction other than the State of California, the term &ldquo;<B>Code</B>&rdquo; shall mean the Uniform Commercial Code as enacted
and in effect in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection,
priority, or remedies and for purposes of definitions relating to such provisions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Collateral</B>&rdquo;
is any and all properties, rights and assets of Borrower described on <U>Exhibit&nbsp;A</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Collateral
Account</B>&rdquo; is any Deposit Account, Securities Account, or Commodity Account.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Collateral
Handling Fee</B>&rdquo; is defined in Section&nbsp;2.6 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Collections</B>&rdquo;
are all funds received by Bank from or on behalf of an Account Debtor for Financed Receivables.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Commodity
Account</B>&rdquo; is any &ldquo;commodity account&rdquo; as defined in the Code with such additions to such term as may hereafter
be made.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Compliance
Certificate</B>&rdquo; is attached as <U>Exhibit&nbsp;B</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Contingent
Obligation</B>&rdquo; is, for any Person, any direct or indirect liability, contingent or not, of that Person for (a)&nbsp;any
indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed,
endorsed, co<FONT STYLE="font-family: MS Mincho">-</FONT>made, discounted or sold with recourse by that Person, or for which that
Person is directly or indirectly liable; (b)&nbsp;any obligations for undrawn letters of credit for the account of that Person;
and (c)&nbsp;all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or collar agreement,
or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates
or commodity prices; but &ldquo;Contingent Obligation&rdquo; does not include endorsements in the ordinary course of business.
The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation
is made or, if not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but
the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Control
Agreement</B>&rdquo; is any control agreement entered into among the depository institution at which Borrower maintains a Deposit
Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity
Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code) over such Collateral Account.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Copyrights</B>&rdquo;
are any and all copyright rights, copyright applications, copyright registrations and like protections in each work or authorship
and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Credit
Extension</B>&rdquo; is any Advance, EXIM Advance or any other extension of credit by Bank for Borrower&rsquo;s benefit.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Current
Liabilities</B>&rdquo; are all obligations and liabilities of Borrower to Bank, plus, without duplication, the aggregate amount
of Borrower&rsquo;s Total Liabilities that mature within one (1) year.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Deferred
Revenue</B>&rdquo; is all amounts received or invoiced, as appropriate, in advance of performance under contracts and not yet recognized
as revenue.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Deposit
Account</B>&rdquo; is any &ldquo;deposit account&rdquo; as defined in the Code with such additions to such term as may hereafter
be made.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Distributor
Accounts</B>&rdquo; are Accounts for which the Account Debtor is a distributor.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Dollars</B>,&rdquo;
&ldquo;<B>dollars</B>&rdquo; or use of the sign &ldquo;<B>$</B>&rdquo; means only lawful money of the United States and not any
other currency, regardless of whether that currency uses the &ldquo;$&rdquo; sign to denote its currency or may be readily converted
into lawful money of the United States.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Early
Termination Fee</B>&rdquo; is defined in Section&nbsp;2.1.1(g) of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Early
Termination Fee Amount</B>&rdquo; is (a) Fifty Thousand Dollars ($50,000) if this Agreement is terminated on before the first (1<SUP>st</SUP>)
anniversary of the Effective Date, and (b) Twenty Five Thousand Dollars ($25,000) if this Agreement is terminated after the first
(1<SUP>st</SUP>) anniversary of the Effective Date but prior to the Maturity Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Effective
Date</B>&rdquo; is defined in the preamble hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Eligible
Accounts</B>&rdquo; are billed Accounts in the ordinary course of Borrower&rsquo;s business that meet all Borrower&rsquo;s
representations and warranties in Section&nbsp;5.3 of this Agreement, have been, at the option of Bank, confirmed in
accordance with Section&nbsp;2.1.1(d) of this Agreement, and are due and owing from Account Debtors deemed creditworthy by
Bank in its sole discretion. Without limiting the fact that the determination of which Accounts are eligible hereunder is a
matter of Bank discretion in each instance, Eligible Accounts shall not include the following Accounts (which listing may be
amended or changed in Bank&rsquo;s discretion with notice to Borrower):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts for which the Account Debtor is Borrower&rsquo;s Affiliate, officer, employee, or agent;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts that the Account Debtor has not paid within ninety (90) days of invoice date regardless of invoice payment period
terms;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts owing from an Account Debtor which does not have its principal place of business in the United States unless otherwise
approved by Bank in writing on a case-by-case basis in its sole discretion;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts billed and/or payable outside of the United States or Canada unless otherwise approved by Bank in writing on a
case-by-case basis in its sole discretion;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts owing from an Account Debtor to the extent that Borrower is indebted or obligated in any manner to the Account
Debtor (as creditor, lessor, supplier or otherwise - sometimes called &ldquo;contra&rdquo; accounts, accounts payable, customer
deposits or credit accounts), with the exception of customary credits, adjustments and/or discounts given to an Account Debtor
by Borrower in the ordinary course of its business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts owing from an Account Debtor which is a United States government entity or any department, agency, or instrumentality
thereof unless Borrower has assigned its payment rights to Bank and the assignment has been acknowledged under the Federal Assignment
of Claims Act of 1940, as amended;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts for demonstration or promotional equipment, or in which goods are consigned, or sold on a &ldquo;sale guaranteed&rdquo;,
&ldquo;sale or return&rdquo;, &ldquo;sale on approval&rdquo;, or other terms if Account Debtor&rsquo;s payment may be conditional;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts owing from an Account Debtor where goods or services have not yet been rendered to the Account Debtor (sometimes
called memo billings or pre-billings);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts subject to contractual arrangements between Borrower and an Account Debtor where payments shall be scheduled or
due according to completion or fulfillment requirements where the Account Debtor has a right of offset for damages suffered as
a result of Borrower&rsquo;s failure to perform in accordance with the contract (sometimes called contracts accounts receivable,
progress billings, milestone billings, or fulfillment contracts);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts owing from an Account Debtor the amount of which may be subject to withholding based on the Account Debtor&rsquo;s
satisfaction of Borrower&rsquo;s complete performance (but only to the extent of the amount withheld; sometimes called retainage
billings);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(k)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts subject to trust provisions, subrogation rights of a bonding company, or a statutory trust;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(l)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts owing from an Account Debtor that has been invoiced for goods that have not been shipped to the Account Debtor
unless Bank, Borrower, and the Account Debtor have entered into an agreement acceptable to Bank in its sole discretion wherein
the Account Debtor acknowledges that (i)&nbsp;it has title to and has ownership of the goods wherever located, (ii)&nbsp;a bona
fide sale of the goods has occurred, and (iii)&nbsp;it owes payment for such goods in accordance with invoices from Borrower (sometimes
called &ldquo;bill and hold&rdquo; accounts);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts for which the Account Debtor has not been invoiced;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(n)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts that represent non-trade receivables or that are derived by means other than in the ordinary course of Borrower&rsquo;s
business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(o)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts subject to chargebacks or other payment deductions taken by an Account Debtor;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(p)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts arising from product returns and/or exchanges (sometimes called &ldquo;warranty&rdquo; or &ldquo;RMA&rdquo; accounts);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(q)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts in which the Account Debtor disputes liability or makes any claim (but only up to the disputed or claimed amount),
or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(r)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts owing from an Account Debtor with respect to which Borrower has received Deferred Revenue (but only to the extent
of such Deferred Revenue); and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(s)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts for which Bank in its good faith business judgment determines collection to be doubtful, including, without limitation,
accounts represented by &ldquo;refreshed&rdquo; or &ldquo;recycled&rdquo; invoices.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Equipment</B>&rdquo;
is all &ldquo;equipment&rdquo; as defined in the Code with such additions to such term as may hereafter be made, and includes without
limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>ERISA</B>&rdquo;
is the Employee Retirement Income Security Act of 1974, and its regulations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Events
of Default</B>&rdquo; are set forth in Section&nbsp;8 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Exchange
Act</B>&rdquo; is the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Advance</B>&rdquo;
is defined in the EXIM Loan Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Bank</B>&rdquo;
is the Export-Import Bank of the United States of America.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Borrower
Agreement</B>&rdquo; is that certain Export Import Bank of the United States of America Working Capital Guarantee Program Borrower
Agreement dated October 10, 2011, by Borrower in favor of Bank and the EXIM Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Finance
Charge</B>&rdquo; is defined in the EXIM Loan Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Loan
Agreement</B>&rdquo; is that certain Loan and Security Agreement (EXIM Loan Facility) dated of even date herewith by and between
Bank and Borrower (as the same may from time to time be further amended, modified, supplemented or restated).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Loan
Documents</B>&rdquo; are, collectively, the EXIM Loan Agreement, any note, or notes or guaranties executed by Borrower, and any
other present or future agreement between Borrower and/or for the benefit of Bank in connection with the EXIM Loan Agreement, all
as amended, extended or restated.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Facility
Fee</B>&rdquo; is defined in Section&nbsp;2.4 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Finance
Charges</B>&rdquo; is defined in Section&nbsp;2.5 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Financed
Receivables</B>&rdquo; are all those Eligible Accounts, including their proceeds which Bank finances and makes an Advance,
as set forth in Section&nbsp;2.1.1 of this Agreement. A Financed Receivable stops being a Financed Receivable (but remains
Collateral) when the Advance made for the Financed Receivable has been fully paid.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Financed
Receivable Balance</B>&rdquo; is the total outstanding gross face amount, at any time, of any Financed Receivable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>GAAP</B>&rdquo;
is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of
the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards
Board or in such other statements by such other Person as may be approved by a significant segment of the accounting profession,
which are applicable to the circumstances as of the date of determination.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Good
Faith Deposit</B>&rdquo; is defined in Section&nbsp;2.11 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Governmental
Approval</B>&rdquo; is any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration,
filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Governmental
Authority</B>&rdquo; is any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality,
regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
functions of or pertaining to government, any securities exchange and any self-regulatory organization.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Indebtedness</B>&rdquo;
is (a)&nbsp;indebtedness for borrowed money or the deferred price of property or services, such as reimbursement and other obligations
for surety bonds and letters of credit, (b)&nbsp;obligations evidenced by notes, bonds, debentures or similar instruments, (c)&nbsp;capital
lease obligations and (d)&nbsp;Contingent Obligations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Indemnified
Person</B>&rdquo; is defined in Section&nbsp;12.2 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Insolvency
Proceeding</B>&rdquo; is any proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy
or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or
proceedings seeking reorganization, arrangement, or other relief.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Intellectual
Property</B>&rdquo; means all of Borrower&rsquo;s right, title, and interest in and to the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>its Copyrights, Trademarks and Patents;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how,
operating manuals;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any and all source code;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any and all design rights which may be available to a Borrower;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right,
but not the obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified
above; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Inventory</B>&rdquo;
is all &ldquo;inventory&rdquo; as defined in the Code in effect on the Effective Date with such additions to such term as may hereafter
be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work
in process and finished products, including without limitation such inventory as is temporarily out of Borrower&rsquo;s custody
or possession or in transit and including any returned goods and any documents of title representing any of the above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Investment</B>&rdquo;
is any beneficial ownership of (including stock, partnership interest or other securities) any Person, or any loan, advance or
capital contribution to any Person.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Invoice
Transmittal</B>&rdquo; shows Eligible Accounts which Bank may finance and, for each such Account, includes the Account Debtor&rsquo;s,
name, address, invoice amount, invoice date and invoice number.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>IP Agreement</B>&rdquo;
is that certain Intellectual Property Security Agreement of even date herewith executed and delivered by Borrower to Bank, as amended,
modified or restated from time to time.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Lien</B>&rdquo;
is a claim, mortgage, deed of trust, levy, charge, pledge, security interest or other encumbrance of any kind, whether voluntarily
incurred or arising by operation of law or otherwise against any property.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Loan Documents</B>&rdquo;
are, collectively, this Agreement, the EXIM Loan Documents, the Perfection Certificate, the IP Agreement, the SVB Control Agreement,
the Borrowing Resolutions, any note, or notes or guaranties executed by Borrower, and any other present or future agreement between
Borrower and/or for the benefit of Bank in connection with this Agreement, all as amended, restated, or otherwise modified.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Lockbox</B>&rdquo;
is defined in Section&nbsp;2.9 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Material
Adverse Change</B>&rdquo; is: (a)&nbsp;a material impairment in the perfection or priority of Bank&rsquo;s Lien in the
Collateral or in the value of such Collateral; (b)&nbsp;a material adverse change in the business, operations, or condition
(financial or otherwise) of Borrower; (c)&nbsp;a material impairment of the prospect of repayment of any portion of the
Obligations; or (d)&nbsp;Bank determines, based upon information available to it and in its reasonable judgment, that there
is a reasonable likelihood that Borrower shall fail to comply with one or more of the financial covenants in Section&nbsp;6
of this Agreement during the next succeeding financial reporting period.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Maturity
Date</B>&rdquo; is October 12, 2013.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Minimum
Finance Charge</B>&rdquo; is Three Thousand Five Hundred Dollars ($3,500).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Obligations</B>&rdquo;
are Borrower&rsquo;s obligations to pay when due any debts, principal, interest, Bank Expenses and other amounts Borrower owes
Bank now or later, whether under this Agreement, the Loan Documents, or otherwise, including, without limitation, all obligations
relating to letters of credit (including reimbursement obligations for drawn and undrawn letters of credit), cash management services,
and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and debts, liabilities,
or obligations of Borrower assigned to Bank, and to perform Borrower&rsquo;s duties under the Loan Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Operating
Documents</B>&rdquo; are, for any Person, such Person&rsquo;s formation documents, as certified with the Secretary of State of
such Person&rsquo;s state of formation on a date that is no earlier than 30 days prior to the Effective Date, and, (a)&nbsp;if
such Person is a corporation, its bylaws in current form, (b)&nbsp;if such Person is a limited liability company, its limited liability
company agreement (or similar agreement), and (c)&nbsp;if such Person is a partnership, its partnership agreement (or similar agreement),
each of the foregoing with all current amendments or modifications thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Patents</B>&rdquo;
means all patents, patent applications and like protections including without limitation improvements, divisions, continuations,
renewals, reissues, extensions and continuations-in-part of the same.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Perfection
Certificate</B>&rdquo; is defined in Section&nbsp;5.1 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Permitted
Indebtedness</B>&rdquo; is:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower&rsquo;s Indebtedness to Bank under this Agreement and the other Loan Documents;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness existing on the Effective Date which is shown on the Perfection Certificate;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subordinated Debt;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>unsecured Indebtedness to trade creditors incurred in the ordinary course of business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indebtedness secured by Liens permitted under clauses (a) and (c) of the definition of &ldquo;Permitted Liens&rdquo; hereunder;
and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through
(f) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome
terms upon Borrower or its Subsidiary, as the case may be.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Permitted
Investments</B>&rdquo; are:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments (including, without limitation, Subsidiaries) existing on the Effective Date which are shown on the Perfection
Certificate (but specifically excluding any future Investments in any Subsidiaries unless otherwise permitted hereunder);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments consisting of Cash Equivalents;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in
the ordinary course of Borrower;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments consisting of deposit accounts in which Bank has a first priority perfected security interest;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments accepted in connection with Transfers permitted by Section&nbsp;7.1 of this Agreement;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments (i)&nbsp;by Borrower in Subsidiaries not to exceed Fifty Thousand Dollars ($50,000) in the aggregate in any
fiscal year and (ii)&nbsp;by Subsidiaries in other Subsidiaries not to exceed Fifty Thousand Dollars ($50,000) in the aggregate
in any fiscal year or in Borrower;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments consisting of (i)&nbsp;travel advances and employee relocation loans and other employee loans and advances in
the ordinary course of business, and (ii)&nbsp;loans to employees, officers or directors relating to the purchase of equity securities
of Borrower or its Subsidiaries pursuant to employee stock purchase plans or agreements approved by Borrower&rsquo;s Board of Directors;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers
and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course
of business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers
who are not Affiliates, in the ordinary course of business; provided that this paragraph (i) shall not apply to Investments of
Borrower in any Subsidiary.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Permitted
Liens</B>&rdquo; are:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens existing on the Effective Date which are shown on the Perfection Certificate or arising under this Agreement and the
other Loan Documents;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens for taxes, fees, assessments or other government charges or levies, either (i)&nbsp;not due and payable or (ii)&nbsp;being
contested in good faith and for which Borrower maintains adequate reserves on Borrower&rsquo;s Books, provided that no notice of
any such Lien has been filed or recorded under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations adopted
thereunder;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>purchase money Liens (i)&nbsp;on Equipment acquired or held by Borrower incurred for financing the acquisition of the Equipment
securing no more than Fifty Thousand Dollars ($50,000) in the aggregate amount outstanding, or (ii)&nbsp;existing on Equipment
when acquired, if the Lien is confined to the property and improvements and the proceeds of the Equipment;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens of carriers, warehousemen, suppliers, or other Persons that are possessory in nature arising in the ordinary course
of business so long as such Liens attach only to Inventory, securing liabilities in the aggregate amount not to exceed Fifty Thousand
Dollars ($50,000) and which are not delinquent or remain payable without penalty or which are being contested in good faith and
by appropriate proceedings which proceedings have the effect of preventing the forfeiture or sale of the property subject thereto;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens to secure payment of workers&rsquo; compensation, employment insurance, old-age pensions, social security and other
like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c),
<U>but</U> any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal
amount of the indebtedness may not increase;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>leases or subleases of real property granted in the ordinary course of Borrower&rsquo;s business (or, if referring to another
Person, in the ordinary course of such Person&rsquo;s business), and leases, subleases, non-exclusive licenses or sublicenses of
personal property (other than Intellectual Property) granted in the ordinary course of Borrower&rsquo;s business (or, if referring
to another Person, in the ordinary course of such Person&rsquo;s business), if the leases, subleases, licenses and sublicenses
do not prohibit granting Bank a security interest therein;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>non-exclusive license of Intellectual Property granted to third parties in the ordinary course of business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default under
Sections&nbsp;8.4 and 8.7 of this Agreement; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Liens in favor of other financial institutions arising in connection with Borrower&rsquo;s deposit and/or securities accounts
held at such institutions, provided that Bank has a first priority perfected security interest in the amounts held in such deposit
and/or securities accounts.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Person</B>&rdquo;
is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Prime
Rate</B>&rdquo; is Bank&rsquo;s most recently announced &ldquo;prime rate,&rdquo; even if it is not Bank&rsquo;s lowest rate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Quick
Assets</B>&rdquo; is, on any date, Borrower&rsquo;s unrestricted cash at Bank and Cash Equivalents at Bank, plus net Eligible Accounts.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Reconciliation
Period</B>&rdquo; is each calendar month.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Registered
Organization</B>&rdquo; is any &ldquo;registered organization&rdquo; as defined in the Code with such additions to such term as
may hereafter be made.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Requirement
of Law</B>&rdquo; is as to any Person, the organizational or governing documents of such Person, and any law (statutory or common),
treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable
to or binding upon such Person or any of its property or to which such Person or any of its property is subject.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Responsible
Officer</B>&rdquo; is any of the Chief Executive Officer, President, Chief Financial Officer and Controller of Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Restricted
License</B>&rdquo; is any material license or other agreement with respect to which Borrower is the licensee (a)&nbsp;that prohibits
or otherwise restricts Borrower from granting a security interest in Borrower&rsquo;s interest in such license or agreement or
any other property, or (b)&nbsp;for which a default under or termination of could interfere with Bank&rsquo;s right to sell any
Collateral.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>SEC</B>&rdquo;
shall mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental Authority.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Securities
Account</B>&rdquo; is any &ldquo;securities account&rdquo; as defined in the Code with such additions to such term as may hereafter
be made.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Subject
Month</B>&rdquo; is the month which is two (2) calendar months after any Testing Month.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Subordinated
Debt</B>&rdquo; is indebtedness incurred by Borrower subordinated to all of Borrower&rsquo;s now or hereafter indebtedness to Bank
(pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into
between Bank and the other creditor), on terms acceptable to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Subsidiary</B>&rdquo;
is, as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership
interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of
the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership
or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or
more intermediaries, or both, by such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall
be a reference to a Subsidiary of Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>SVB Control
Agreement</B>&rdquo; is that certain Securities Account Control Agreement by and among SVB Securities, Penson Financial Services,
Inc., Borrower, and Bank of even date herewith.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Testing
Month</B>&rdquo; is any month with respect to which Bank has tested Borrower&rsquo;s Adjusted Quick Ratio to determine the Collateral
Handling Fee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Total
Liabilities</B>&rdquo; is on any day, obligations that should, under GAAP, be classified as liabilities on Borrower&rsquo;s consolidated
balance sheet, including all Indebtedness, but excluding all Subordinated Debt.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Trademarks</B>&rdquo;
means any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same and
like protections, and the entire goodwill of the business of Borrower connected with and symbolized by such trademarks.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Transfer</B>&rdquo;
is defined in Section&nbsp;7.1 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">[Signature page follows.]</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the Effective Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>BORROWER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">SOCKET MOBILE, INC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">By: /s/ David W. Dunlap</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Name: David W. Dunlap</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Title: CFO</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>BANK</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">SILICON VALLEY BANK</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">By: /s/ Aman Johal</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Name: Aman Johal</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Title: Relationship Manager</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><U>EXHIBIT A</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Collateral consists
of all of Borrower&rsquo;s right, title and interest in and to the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All goods, equipment,
inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, general intangibles
(including payment intangibles) accounts (including health-care receivables), documents, instruments (including any promissory
notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit rights (whether or
not the letter of credit is evidenced by a writing), commercial tort claims, securities, and all other investment property, supporting
obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and any copyright rights, copyright
applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or
unpublished, now owned or later acquired; any patents, trademarks, service marks and applications therefor; trade styles, trade
names, any trade secret rights, including any rights to unpatented inventions, know-how, operating manuals, license rights and
agreements and confidential information, now owned or hereafter acquired; or any claims for damages by way of any past, present
and future infringement of any of the foregoing; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All Borrower&rsquo;s
books relating to the foregoing and any and all claims, rights and interests in any of the above and all substitutions for, additions,
attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or
all of the foregoing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&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: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><U></U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><U>EXHIBIT B</U></B></P>

<P STYLE="font: 9pt Arial; margin: 0; text-align: center; color: Red">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SPECIALTY FINANCE DIVISION<BR>
Compliance Certificate</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">I, an authorized
officer of <B>SOCKET MOBILE, INC.</B> (&ldquo;<B>Borrower</B>&rdquo;) certify under the Loan and Security Agreement (as amended,
the &ldquo;<B>Agreement</B>&rdquo;) between Borrower and Silicon Valley Bank (&ldquo;<B>Bank</B>&rdquo;) as follows for the period
ending _____________________________ (all capitalized terms used herein shall have the meaning set forth in this Agreement):</P>

<P STYLE="font: bold 12pt Times New Roman Bold; margin: 0 0 12pt; text-align: justify">Borrower represents and warrants for each
Financed Receivable:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each Financed Receivable
is an Eligible Account;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower is the
owner with legal right to sell, transfer, assign and encumber such Financed Receivable;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The correct amount
is on the Invoice Transmittal and is not disputed;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Payment is not contingent
on any obligation or contract and Borrower has fulfilled all its obligations as of the Invoice Transmittal date;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each Financed Receivable
is based on an actual sale and delivery of goods and/or services rendered, is due to Borrower, is not past due or in default, has
not been previously sold, assigned, transferred, or pledged and is free of any liens, security interests and encumbrances other
than Permitted Liens;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">There are no defenses,
offsets, counterclaims or agreements for which the Account Debtor may claim any deduction or discount;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower reasonably
believes no Account Debtor is insolvent or subject to any Insolvency Proceedings;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower has not
filed or had filed against it Insolvency Proceedings and does not anticipate any filing;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Bank has the right
to endorse and/ or require Borrower to endorse all payments received on Financed Receivables and all proceeds of Collateral.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">No representation,
warranty or other statement of Borrower in any certificate or written statement given to Bank contains any untrue statement of
a material fact or omits to state a material fact necessary to make the statement contained in the certificates or statement not
misleading.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></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: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman Bold; margin: 0 0 12pt; text-align: justify">Additionally, Borrower represents and warrants
as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower and each
Subsidiary is duly existing and in good standing in its state of formation and qualified and licensed to do business in, and in
good standing in, any state in which the conduct of its business or its ownership of property requires that it be qualified except
where the failure to do so could not reasonably be expected to cause a Material Adverse Change. The execution, delivery and performance
of the Loan Documents have been duly authorized, and do not conflict with Borrower&rsquo;s organizational documents, nor constitute
an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement to
which or by which it is bound in which the default could reasonably be expected to cause a Material Adverse Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower has good
title to the Collateral, free of Liens except Permitted Liens. All inventory is in all material respects of good and marketable
quality, free from material defects.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower is not
an &ldquo;investment company&rdquo; or a company &ldquo;controlled&rdquo; by an &ldquo;investment company&rdquo; under the Investment
Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin stock
(under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower has complied in all material respects with the
Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably
be expected to cause a Material Adverse Change. None of Borrower&rsquo;s or any Subsidiary&rsquo;s properties or assets has been
used by Borrower or any Subsidiary or, to the best of Borrower&rsquo;s knowledge, by previous Persons, in disposing, producing,
storing, treating, or transporting any hazardous substance other than legally. Borrower and each Subsidiary has timely filed all
required tax returns and paid, or made adequate provision to pay, all material taxes, except those being contested in good faith
with adequate reserves under GAAP. Borrower and each Subsidiary has obtained all consents, approvals and authorizations of, made
all declarations or filings with, and given all notices to, all government authorities that are necessary to continue its business
as currently conducted except where the failure to obtain or make such consents, declarations, notices or filings would not reasonably
be expected to cause a Material Adverse Change.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower is
in compliance with the Financial Covenant(s) set forth in Section&nbsp;6.7 of this Agreement. Attached are the required
documents supporting the certification. The undersigned certifies that these are prepared in accordance with GAAP
consistently applied from one period to the next except as explained in an accompanying letter or footnotes.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned
acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any
of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-top: 5.75pt; font-weight: bold; text-decoration: underline">Financial Covenant</TD>
    <TD STYLE="width: 18%; padding-top: 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 16%; padding-top: 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 18%; padding-top: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-top: 5.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-top: 5.75pt; text-align: center">Required</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-top: 5.75pt; text-align: center">Actual</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-top: 5.75pt; text-align: center">Compliance</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 5.75pt">Liquidity Ratio</TD>
    <TD STYLE="padding-top: 5.75pt; text-align: center">2.0:1.0*</TD>
    <TD STYLE="padding-top: 5.75pt; text-align: center">____:1.0</TD>
    <TD STYLE="padding-top: 5.75pt; text-align: center">Yes &nbsp;&nbsp;&nbsp; No</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 5.75pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-top: 5.75pt; font-size: 10pt"> <FONT STYLE="font-size: 10pt">*As set forth in Section&nbsp;6.7</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></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: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; border-bottom: windowtext 1pt solid; padding-top: 5.75pt; font-weight: bold; text-decoration: underline">Performance Pricing</TD>
    <TD STYLE="width: 28%; border-bottom: windowtext 1pt solid; padding-top: 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: windowtext 1pt solid; padding-top: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-top: 5.75pt; font-weight: bold; text-decoration: underline">Adjusted Quick Ratio</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 5.75pt; font-weight: bold; text-decoration: underline; text-align: center">Collateral Handling Fee</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 5.75pt; font-weight: bold; text-decoration: underline; text-align: center">Applies</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-top: 5.75pt">Adjusted Quick Ratio &ge; 1.25:1.00</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 5.75pt; text-align: center">None</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 5.75pt; text-align: center">Yes &nbsp; No</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-top: 5.75pt">Adjusted Quick Ratio &lt; 1.25:1.00</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 5.75pt; text-align: center">0.25%</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-top: 5.75pt; text-align: center">Yes &nbsp; No</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All other representations and warranties in
this Agreement are true and correct in all material respects on this date, and Borrower represents that there is no existing Event
of Default.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Sincerely,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>SOCKET MOBILE, INC.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">____________________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Signature</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">____________________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Title</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">____________________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Date</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 41 -->
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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: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><U></U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><U>Schedule
1 to Compliance Certificate</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><U>Financial
Covenants of Borrower</U></B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the event of a conflict between this Schedule
and the Loan Agreement, the terms of the Loan Agreement shall govern.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dated:&#9;____________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><FONT STYLE="text-transform: uppercase">I.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><B>Liquidity Ratio</B> (Section 6.7(a))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Required:&#9;2.0:1.0</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; padding-right: 5.4pt; text-indent: 0in; tab-stops: list .5in; font-size: 10pt"> A.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;</TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Aggregate value of the unrestricted cash and cash equivalents of
        Borrower at Bank and Bank&rsquo;s affiliates</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">$<U><U>&nbsp;<U>&nbsp;<U>&nbsp;<U><U>&nbsp;<U>&nbsp;<U>&nbsp;<U><U>&nbsp;<U>&nbsp;<U>&nbsp;<U><U>&nbsp;<U><U>&nbsp;<U><U>&nbsp;<U>&nbsp;<U>&nbsp;<U><U>    </U></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-indent: 0in; tab-stops: list .5in; font-size: 10pt"> B.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt; font-size: 10pt">Aggregate value of the net Eligible Accounts of Borrower</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">$<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;<U>&nbsp;<U>&nbsp;<U><U>&nbsp;<U>&nbsp;<U>&nbsp;<U><U><U>&nbsp;<U></U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-indent: 0in; tab-stops: list .5in; font-size: 10pt"> C.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt; font-size: 10pt">Quick Assets (the sum of lines A and B)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">$<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-indent: 0in; tab-stops: list .5in; font-size: 10pt"> D.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt; font-size: 10pt"> <FONT STYLE="font-size: 10pt">Aggregate value of Obligations to Bank</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">$<U><U>&nbsp;<U>&nbsp;<U>&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; text-indent: 0in; tab-stops: list .5in; font-size: 10pt"> E.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt; font-size: 10pt"> <FONT STYLE="font-size: 10pt">Liquidity Ratio (line C divided by line D)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt; font-size: 10pt; text-decoration: underline; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;Is line E equal to or greater than 2.0:1:0?</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>No,
not in compliance &#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9; <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>Yes, in compliance</P>

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

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

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

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>EXHIBIT C</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Borrowing Resolutions</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<SEQUENCE>3
<FILENAME>ex10-12.htm
<DESCRIPTION>EXHIBIT 10.12
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.12</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">LOAN
AND SECURITY AGREEMENT (EXIM LOAN FACILITY)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>THIS LOAN AND
SECURITY AGREEMENT (EXIM LOAN FACILITY) (&ldquo;EXIM AGREEMENT&rdquo;)</B> dated as of the Closing Date, between <B>SILICON VALLEY
BANK</B> (&ldquo;Bank&rdquo;), California Corporation, and <B>SOCKET MOBILE, INC.</B>, a Delaware corporation (&ldquo;Borrower&rdquo;),
provides the terms on which Bank will lend to Borrower and Borrower will repay Bank. The parties agree as follows:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>ACCOUNTING AND OTHER TERMS</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Accounting terms
not defined in this EXIM Agreement will be construed following GAAP Calculations and determinations must be made following GAAP.
The term &ldquo;financial statements&rdquo; includes the notes and schedules. The terms &ldquo;including&rdquo; and &ldquo;includes&rdquo;
always mean &ldquo;including (or includes) without limitation&rdquo; in this or any Loan Document. This EXIM Agreement shall be
construed to impart upon Bank a duty to act reasonably at all times.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>LOAN AND TERMS OF PAYMENT</U></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">2.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Promise to Pay.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will pay
Bank the unpaid principal amount of all EXIM Advances hereunder with all interest, fees and finance charges due thereon as and
when due in accordance with this EXIM Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">2.1.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Advances.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Availability</U>. Subject to the terms of this EXIM Agreement, Borrower may request that Bank finance specific EXIM Eligible
Foreign Accounts. Bank may, in its sole discretion in each instance, finance such EXIM Eligible Foreign Accounts by extending credit
to Borrower in an amount equal to the result of the Foreign Advance Rate multiplied by the face amount of the EXIM Eligible Foreign
Account (the &ldquo;EXIM Advance&rdquo;). Bank may, in its sole discretion, change the percentage of the Foreign Advance Rate for
a particular EXIM Eligible Foreign Account on a case by case basis. When Bank makes an EXIM Advance, the EXIM Eligible Foreign
Account becomes an &ldquo;EXIM Financed Receivable.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Maximum Credit Extensions</U>. The aggregate outstanding amount of all EXIM Advances at any time may not exceed the EXIM
Facility Amount.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Borrowing Procedure</U>. Borrower will deliver an Invoice Transmittal and submit purchase orders and Export Orders for
each EXIM Eligible Foreign Account it offers. Bank may rely on information set forth in or provided with the Invoice Transmittal.
Bank may make Credit Extensions under this EXIM Agreement based on instructions from a Responsible Officer or his or her designee
or without instructions if the Credit Extensions are necessary to meet Obligations which have become due. Bank may rely on any
telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Borrower will indemnify Bank for any
loss suffered by Bank from that reliance.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Maturity</U>. This EXIM Agreement shall terminate and all EXIM Advances outstanding hereunder shall be immediately due
and payable in full on the Maturity Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Credit Quality; Confirmations</U>. Bank may, at its option, conduct a credit check of the Account Debtor for each Account
requested by Borrower for financing hereunder in order to approve any such Account Debtor&rsquo;s credit before agreeing to finance
such Account. Bank may also verify directly with the respective Account Debtors the validity, amount and other matters relating
to the Accounts (including confirmations of Borrower&rsquo;s representations in Section&nbsp;5) by means of mail, telephone or
otherwise, either in the name of Borrower or Bank from time to time in its sole discretion.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Account Notification/Collection</U>. Bank may notify any person owing Borrower money of Bank&rsquo;s security interest
in the funds and verify and/or collect the amount of the Account.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Bank&rsquo;s Discretion</U>. Notwithstanding anything to the contrary contained herein, this Agreement may be terminated
by Borrower or Bank at any time, and Bank is not obligated to finance any EXIM Eligible Foreign Accounts. Bank and Borrower hereby
acknowledge and agree that Bank&rsquo;s agreement to finance EXIM Eligible Foreign Accounts hereunder is discretionary in each
instance. Accordingly, there shall not be any recourse to Bank, nor liability of Bank, on account of any delay in Bank&rsquo;s
making of, and/or any decline by Bank to make, any loan or advance requested hereunder. If this EXIM Agreement is terminated by
Bank or Borrower for any reason, Borrower shall pay to Bank the Early Termination Fee set forth in the Domestic Loan Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">2.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Overadvances.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If Borrower&rsquo;s
Obligations under Section&nbsp;2.1.1 exceed the EXIM Facility Amount, Borrower must immediately pay Bank the excess.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">2.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Collections, Finance Charges, Payments.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Collections</U>. Collections will be credited to the EXIM Financed Receivable Balance for such EXIM Financed Receivable,
but if there is an Event of Default, Bank may apply Collections to the Obligations in any order it chooses. If Bank receives a
payment for both an EXIM Financed Receivable and a non-EXIM Financed Receivable, the funds will first be applied to the EXIM Financed
Receivable and, if there is no Event of Default then existing, the excess will be applied pursuant to the Domestic Loan Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Finance Charges</U>. All Collections received by Bank shall be deemed applied by Bank on account of the Obligations
three (3) Business Days after receipt of the Collections. Borrower will pay a finance charge (the &ldquo;Finance Charge&rdquo;)
on each EXIM Financed Receivable which is equal to the Applicable Rate divided by three hundred sixty (360) multiplied by the
number of days each such EXIM Financed Receivable is outstanding multiplied by the outstanding EXIM Financed Receivable Balance.
The Finance Charge is payable when the EXIM Advance made based on such EXIM Financed Receivable is payable in accordance with
Section&nbsp;2.3(g) hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Collateral Handling Fee</U>. Borrower will pay to Bank a collateral handling fee equal to one quarter of one percent
(0.25%) per Reconciliation Period of the EXIM Financed Receivable Balance for each EXIM Financed Receivable outstanding based
upon a 360 day year (the &ldquo;Collateral Handling Fee&rdquo;); provided, however, for any Subject Month (as of the first calendar
day of such Reconciliation Period), to the extent that Borrower maintained an Adjusted Quick Ratio of at least 1.25 to 1.0 at
all times during the applicable Testing Month, Borrower shall not be required to pay any Collateral Handling Fee. The Collateral
Handling Fee is charged on a daily basis and is equal to the Collateral Handling Fee divided by 30, multiplied by the number of
days each such EXIM Financed Receivable is outstanding, multiplied by the outstanding EXIM Financed Receivable Balance. The Collateral
Handling Fee is payable when the EXIM Advance made based on such EXIM Financed Receivable is payable in accordance with Section
2.3(g)of this Agreement. In computing Collateral Handling Fees under this Agreement, all Collections received by Bank shall be
deemed applied by Bank on account of Obligations three (3) Business Days after receipt of the Collections. After an Event of Default,
the Collateral Handling Fee will increase an additional 0.50% effective immediately upon such Event of Default.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Default Rate</U>. After an Event of Default, the Applicable Rate will increase an additional five percent (5.00%) per
annum.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Accounting</U>. After each Reconciliation Period, Bank will provide an accounting of the transactions for that Reconciliation
Period, including the amount of all EXIM Financed Receivables, all Collections, Adjustments, and Finance Charges. If Borrower does
not object to the accounting in writing within thirty (30) days it shall be considered accurate. All Finance Charges and other
interest and fees are calculated on the basis of a three hundred sixty (360) day year and actual days elapsed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Deductions</U>. Bank may deduct fees, Finance Charges, Credit Extensions which become due pursuant to Section&nbsp;2.3,
and other amounts due pursuant to this EXIM Agreement from any Credit Extension made or Collections received by Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Repayment</U>. Borrower will repay each EXIM Advance on the earliest of: (a) the date on which payment is received of
the EXIM Financed Receivable with respect to which the EXIM Advance was made, (b) the date on which the EXIM Financed Receivable
is no longer an EXIM Eligible Foreign Account, (c) the date on which any Adjustment is asserted to the EXIM Financed Receivable
(but only to the extent of the Adjustment if the EXIM Financed Receivable remains otherwise an EXIM Eligible Foreign Account),
(d) the date on which there is a breach of any warranty or representation set forth in Section&nbsp;5, or (e) the Maturity Date
(including any early termination of the Domestic Loan Agreement). Each payment will also include all accrued Finance Charges and
Collateral Handling Fees with respect to such EXIM Advance and all other amounts then due and payable hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Repayment on Event of Default</U>. When there is an Event of Default, Borrower will, if Bank demands (or, upon the occurrence
of an Event of Default under Section&nbsp;8.5 of the Domestic Loan Agreement, immediately without notice or demand from Bank) repay
all of the Credit Extensions. The demand may, at Bank&rsquo;s option, include the EXIM Advance then outstanding for each EXIM Financed
Receivable and all accrued Finance Charges, attorneys&rsquo; and professional fees, court costs and expenses, and any other Obligations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Debit of Accounts</U>. Bank may debit any of Borrower&rsquo;s deposit accounts for payments or any amounts Borrower owes
Bank hereunder. Bank shall promptly notify Borrower when it debits Borrower&rsquo;s accounts. These debits shall not constitute
a set-off.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Adjustments</U>.
If at any time during the term of this EXIM Agreement any Account Debtor asserts an Adjustment or if Borrower issues a credit
memorandum or if any of the representations, warranties or covenants set forth in Section&nbsp;5 are no longer true in all
material respects, Borrower will promptly advise Bank.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">2.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Fees.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will pay:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Bank Expenses. On the Closing Date, EXIM Bank Expenses incurred through the date hereof.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">2.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Use of Proceeds.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will use
the proceeds of the EXIM Advances only for the purposes specified in the EXIM Borrower Agreement. Borrower will not use the proceeds
of the EXIM Advances for any purpose prohibited by the EXIM Borrower Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">2.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Guarantee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">To facilitate the
financing of EXIM Eligible Foreign Accounts, the EXIM Bank has agreed to guarantee the EXIM Advances made under this EXIM Agreement,
pursuant to a Master Guarantee Agreement, Loan Authorization Agreement and (to the extent applicable) Delegated Authority Letter
Agreement (collectively, the &ldquo;<B>EXIM Guarantee</B>&rdquo;). If, at any time after the EXIM Guarantee has been entered into
by Bank, for any reason other than due to any action or inaction of Borrower under the EXIM Guarantee, (a) the EXIM Guarantee shall
cease to be in full force and effect, or (b) if the EXIM Bank declares the EXIM Guarantee void or revokes any obligations thereunder
or denies liability thereunder, and any overadvance results from either of the foregoing, Bank shall provide notice of such overadvance
to Borrower, and Borrower shall immediately pay the amount of the excess to Bank. If, at any time after the EXIM Guarantee has
been entered into by Bank, for any reason other than the one described in the foregoing sentence, (x) the EXIM Guarantee shall
cease to be in full force and effect, or (y) the EXIM Bank declares the EXIM Guarantee void or revokes any obligations thereunder
or denies liability thereunder, any such event shall constitute an Event of Default under this EXIM Agreement. Nothing in any confidentiality
agreement in this EXIM Agreement or in any other agreement shall restrict Bank&rsquo;s right to make disclosures and provide information
to the EXIM Bank in connection with the EXIM Guarantee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">2.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Borrower Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower shall execute
and deliver a Borrower Agreement, in the form specified by the EXIM Bank (attached hereto as Annex A), in favor of Bank and the
EXIM Bank, together with an amendment thereto approved by the EXIM Bank to conform certain terms of such Borrower Agreement to
the terms of this EXIM Agreement (as amended, the &ldquo;<B>EXIM Borrower Agreement</B>&rdquo;). When the EXIM Borrower Agreement
is entered into by Borrower and the EXIM Bank and delivered to Bank, this EXIM Agreement shall be subject to all of the terms and
conditions of the EXIM Borrower Agreement, all of which are hereby incorporated herein by this reference. From and after the time
Borrower and the EXIM Bank have entered into the EXIM Borrower Agreement and delivered the same to Bank, Borrower expressly agrees
to perform all of the obligations and comply with all of the affirmative and negative covenants and all other terms and conditions
set forth in the EXIM Borrower Agreement as though the same were expressly set forth herein. In the event of any conflict between
the terms of the EXIM Borrower Agreement (if then in effect) and the other terms of this EXIM Agreement, whichever terms are more
restrictive shall apply. Borrower acknowledges and agrees that it has received a copy of the Loan Authorization Agreement which
is referred to in the EXIM Borrower Agreement. If the EXIM Borrower Agreement is entered into by Borrower and the EXIM Bank and
delivered to Bank, Borrower agrees to be bound by the terms of the Loan Authorization Agreement, including, without limitation,
by any additions or revisions made prior to its execution on behalf of EXIM Bank. Upon the execution of the Loan Authorization
Agreement by EXIM Bank and Bank, it shall become an attachment to the EXIM Borrower Agreement. Borrower shall reimburse Bank for
all fees and all out of pocket costs and expenses incurred by Bank with respect to the EXIM Guarantee and the EXIM Borrower Agreement,
including without limitation all facility fees and usage fees, and Bank is authorized to debit any of Borrower&rsquo;s deposit
accounts with Bank for such fees, costs and expenses when paid by Bank.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">2.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Power of Attorney.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower irrevocably
appoints Bank and its successors and assigns as attorney-in-fact and authorizes Bank and its successors and assigns, regardless
of whether there has been an Event of Default, to: (a)&nbsp;sell, assign, transfer, pledge, compromise, or discharge all or any
part of the EXIM Financed Receivables; (b)&nbsp;demand, collect, sue, and give releases to any Account Debtor for monies due and
compromise, prosecute, or defend any action, claim, case or proceeding about the EXIM Financed Receivables, including filing a
claim or voting a claim in any bankruptcy case in Bank&rsquo;s or Borrower&rsquo;s name, as Bank chooses; (c)&nbsp;prepare, file
and sign Borrower&rsquo;s name on any notice, claim, assignment, demand, draft, or notice of or satisfaction of lien or mechanics&rsquo;
lien or similar document; (d)&nbsp;notify all Account Debtors to pay Bank directly; (e)&nbsp;receive, open, and dispose of mail
addressed to Borrower; (f)&nbsp;endorse Borrower&rsquo;s name on checks or other instruments (to the extent necessary to pay amounts
owed pursuant to this EXIM Agreement); and (g)&nbsp;execute on Borrower&rsquo;s behalf any instruments, documents, financing statements
to perfect Bank&rsquo;s interests in the EXIM Financed Receivables and Collateral and do all acts and things necessary or prudent,
as determined solely and exclusively by Bank, to protect, preserve, and otherwise enforce Bank&rsquo;s rights and remedies under
the EXIM Loan Documents, as directed by Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>CONDITIONS OF LOANS</U></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">3.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions Precedent to Initial EXIM Advance.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Bank&rsquo;s obligation
to make the initial EXIM Advance is subject to the condition precedent that it receives the agreements, documents and fees it requires
pursuant to Section 3.1 of the Domestic Loan Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">3.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions Precedent to all Advances.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Bank&rsquo;s obligations
to make each EXIM Advance, including the initial EXIM Advance, is subject to the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>timely receipt of any export purchase order relating to the request;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>receipt of an Invoice Transmittal;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Bank shall have (at its option) conducted the confirmations and verifications as described in Section&nbsp;2.1.1(e);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the representations and warranties in Section&nbsp;5 must be materially true on the date of the Invoice Transmittal and
on the effective date of each EXIM Advance and no Event of Default may have occurred and be continuing, or result from the EXIM
Advance. Each EXIM Advance is Borrower&rsquo;s representation and warranty on that date that the representations and warranties
of Section&nbsp;5 remain true; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the EXIM Guarantee will be in full force and effect.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>CREATION OF SECURITY INTEREST</U></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">4.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Grant of Security Interest.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower hereby
grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges
to Bank, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof.
Borrower represents, warrants, and covenants that the security interest granted herein shall be and shall at all times continue
to be a first priority perfected security interest in the Collateral subject only to Permitted Liens. If Borrower shall at any
time acquire a commercial tort claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details
thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this EXIM
Agreement, with such writing to be in form and substance satisfactory to Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If this EXIM Agreement
is terminated, Bank&rsquo;s Lien in the Collateral shall continue until the Obligations (other than inchoate indemnity obligations)
are repaid in full in cash. Upon payment in full in cash of the Obligations and at such time as this EXIM Agreement has been terminated,
Bank shall, at Borrower&rsquo;s sole cost and expense, release its Liens in the Collateral and all rights therein shall revert
to Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">4.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Authorization to File.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower authorizes
Bank to file financing statements without notice to Borrower, with all appropriate jurisdictions, as Bank deems appropriate, in
order to perfect or protect Bank&rsquo;s interest in the Collateral. Any such financing statements may indicate the Collateral
as &ldquo;all assets of the Debtor&rdquo; or words of similar effect, or as being of an equal or lesser scope, or with greater
detail, all in Bank&rsquo;s discretion.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>REPRESENTATIONS AND WARRANTIES</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower represents
and warrants as follows:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">5.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Domestic Loan Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The representations
and warranties contained in the Domestic Loan Documents, which are incorporated into this EXIM Agreement, are true and correct.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">5.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts Receivable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>For
each Account with respect to which EXIM Advances are requested, on the date each EXIM Advance is requested and made, such
Account shall meet the Minimum EXIM Foreign Eligibility Requirements, as the case may be, set forth in Section&nbsp;13.1
below.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing the Accounts
are and shall be true and correct and all such invoices, instruments and other documents, and all of Borrower&rsquo;s Books are
genuine and in all respects what they purport to be. All sales and other transactions underlying or giving rise to each Account
shall comply in all material respects with all applicable laws and governmental rules and regulations. Borrower has no knowledge
of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are an EXIM Eligible Foreign Account. To the
best of Borrower&rsquo;s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all
Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>AFFIRMATIVE COVENANTS</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will do
all of the following:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">6.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Domestic Loan Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will comply
with all the provisions of the Domestic Loan Documents.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">6.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Insurance.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If required by Bank,
Borrower will obtain, and pay when due all premiums with respect to, and maintain uninterrupted foreign credit insurance. In addition,
Borrower will execute in favor of Bank an assignment of proceeds of any insurance policy obtained by Borrower and issued by EXIM
Bank insuring against comprehensive commercial and political risk (the &ldquo;EXIM Bank Policy&rdquo;). The insurance proceeds
from the EXIM Bank Policy assigned or paid to Bank will be applied to the balance outstanding under this EXIM Agreement. Borrower
will immediately notify Bank and EXIM Bank in writing upon submission of any claim under the EXIM Bank Policy. Then Bank will not
be obligated to make any further Credit Extensions to Borrower without prior approval from EXIM Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">6.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will comply
with all terms of the EXIM Borrower Agreement. If any provision of the EXIM Borrower Agreement conflicts with any provision contained
in this EXIM Agreement, the more strict provision, with respect to the Borrower, will control.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">6.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Terms of Sale.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrowers will,
if required by EXIM Bank or Bank, cause all sales of products on which the Credit Extensions are based to be (i) supported by one
or more irrevocable letters of credit in an amount and of matter, naming a beneficiary and issued by a financial institution acceptable
to Bank and negotiated by Bank, or (ii) for any Account which satisfies all of the requirements to constitute an EXIM Eligible
Foreign Account, but where the Accounts from the Buyer exceed twenty-five percent (25%) of all Accounts, to obtain written preapproval
from Bank and EXIM Bank.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">6.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Reporting Requirements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower shall deliver
all reports, certificates and other documents to Bank as provided in the EXIM Borrower Agreement, including, without limitation,
purchase orders and any other information that Bank and EXIM Bank may reasonably request. In addition, Borrower shall comply with
the reporting requirements set forth in the Domestic Loan Documents.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">6.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Further Assurances.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will execute
any further instruments and take further action as Bank requests to perfect or continue Bank&rsquo;s security interest in the Collateral
or to effect the purposes of this EXIM Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>NEGATIVE COVENANTS</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will not
do any of the following:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">7.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Domestic Loan Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Violate or fail
to comply with the Domestic Loan Documents.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">7.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Borrower Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Violate or fail
to comply with any provision of the EXIM Borrower Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">7.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Take an action,
or permit any action to be taken, that causes, or could be expected to cause, the EXIM Guarantee to not be in full force and effect.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>EVENTS OF DEFAULT</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any one of the following
is an Event of Default:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">8.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment Default.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If Borrower fails
to pay any of the Obligations when due.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">8.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Covenant Default.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If Borrower violates
any covenant in this EXIM Agreement or in any of the Domestic Loan Documents or the EXIM Borrower Agreement or an Event of Default
occurs under this EXIM Agreement or the Domestic Loan Documents.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">8.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Guarantee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If the EXIM Guarantee
ceases for any reason to be in full force and effect, or if the EXIM Bank declares the EXIM Guarantee void or revokes any obligations
under the EXIM Guarantee.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">9.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>BANK&rsquo;S RIGHTS AND REMEDIES</U></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">9.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Rights and Remedies.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">When an Event of
Default occurs and continues Bank may, without notice or demand, do any or all of the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Declare all Obligations immediately due and payable (but if an Event of Default described in Section&nbsp;8.5 of the Domestic
Loan Agreement occurs all Obligations are immediately due and payable without any action by Bank);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Stop advancing money or extending credit for Borrower&rsquo;s benefit under this EXIM Agreement or under any other agreement
between Borrower and Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Settle or adjust disputes and claims directly with Account Debtors for amounts, on terms and in any order that Bank considers
advisable;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Make any payments and do any acts it considers necessary or reasonable to protect its security interest in the Collateral.
Borrower will assemble the Collateral if Bank requires and make it available as Bank designates. Bank may enter premises where
the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise
any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license
to enter and occupy any of its premises, without charge, to exercise any of Bank&rsquo;s rights or remedies;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or
for the credit or the account of Borrower;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral;
and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Dispose of the Collateral according to the Code.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">9.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accounts Collection.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">When an Event of
Default occurs and continues, Bank may notify any Person owing Borrower money of Bank&rsquo;s security interest in the funds and
verify the amount of the Account. Borrower must collect all payments in trust for Bank and, if requested by Bank, immediately deliver
the payments to Bank in the form received from the Account Debtor, with proper endorsements for deposit.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">9.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Bank Expenses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If Borrower fails
to pay any amount or furnish any required proof of payment to third persons Bank may make all or part of the payment or obtain
insurance policies required in Section&nbsp;6.5 of the Domestic Loan Agreement, and take any action under the policies Bank deems
prudent. Any amounts paid by Bank are EXIM Bank Expenses and immediately due and payable, bearing interest at the then Applicable
Rate and secured by the Collateral. No payments by Bank are deemed an agreement to make similar payments in the future or Bank&rsquo;s
waiver of any Event of Default.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">9.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Bank&rsquo;s Liability for Collateral.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If Bank complies
with reasonable banking practices it is not liable for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral;
(c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other person.
Borrower bears all risk of loss, damage or destruction of the Collateral.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">9.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Remedies Cumulative.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Bank&rsquo;s rights
and remedies under this EXIM Agreement, the Loan Documents, and all other agreements are cumulative. Bank has all rights and remedies
provided under the Code, by law, or in equity. Bank&rsquo;s exercise of one right or remedy is not an election, and Bank&rsquo;s
waiver of any Event of Default is not a continuing waiver. Bank&rsquo;s delay is not a waiver, election, or acquiescence. No waiver
is effective unless signed by Bank and then is only effective for the specific instance and purpose for which it was given.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">9.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Demand Waiver.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower waives
demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release,
compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on
which Borrower is liable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">9.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Direction.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Upon the
occurrence of an Event of Default, EXIM Bank shall have right to (i) direct Bank to exercise the remedies specified in
Section&nbsp;9.1 and (ii) request that Bank accelerate the maturity of any other loans to Borrower.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">9.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Notification.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Bank has the right
to immediately notify EXIM Bank in writing if it has knowledge of any of the following events: (1) any failure to pay any amount
due under this EXIM Agreement; (2) any failure to pay when due any amount payable to Bank under any Obligations owing by Borrower
to Bank; (3 the filing of an action for debtor&rsquo;s relief by, against or on behalf of Borrower; (4 any threatened or pending
material litigation against Borrower, or any dispute involving Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If Bank sends a
notice to EXIM Bank, Bank has the right to send EXIM Bank a written report on the status of events covered by the notice every
thirty (30) days after the date of the original notification, until Bank files a claim with EXIM Bank or the defaults have been
cured (but no EXIM Advances may be required during the cure period unless EXIM Bank gives its written approval). If directed by
EXIM Bank, Bank will have the right to exercise any rights it may have against the Borrower to demand the immediate repayment of
all amount outstandings under the EXIM Loan Documents.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">10.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>NOTICES</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All notices or demands
by any party about this EXIM Agreement or any other related agreement must be in writing and be personally delivered or sent by
an overnight delivery service, by certified mail, postage prepaid, return receipt requested, or by telefacsimile in accordance
with the Domestic Loan Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">11.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>CHOICE OF LAW , VENUE AND JURY TRIAL WAIVER</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">California
law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the
exclusive jurisdiction of the State and Federal courts in Santa Clara County, California; provided, however, that nothing in
this EXIM Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other
jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court
order in favor of Bank. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit
commenced in any such court, and Borrower hereby waives any objection that it may have based upon lack of personal
jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief
as is deemed appropriate by such court. Borrower hereby waives personal service of the summons, complaints, and other process
issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by
registered or certified mail addressed to Borrower at the address set forth in Section&nbsp;10 of this EXIM Agreement and
that service so made shall be deemed completed upon the earlier to occur of Borrower&rsquo;s actual receipt thereof or three
(3) days after deposit in the U.S. mails, proper postage prepaid.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING
OUT OF OR BASED UPON THIS EXIM AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH
OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS EXIM AGREEMENT. EACH PARTY
HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WITHOUT INTENDING
IN ANY WAY TO LIMIT THE PARTIES&rsquo; AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the
right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature
between them arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they
cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in accordance with California
Code of Civil Procedure Section&nbsp;638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive
jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the parties hereby submit to
the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions
of California Code of Civil Procedure &sect;&sect; 638 through 645.1, inclusive. The private judge shall have the power, among
others, to grant provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and
permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records
relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief,
but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the
Santa Clara County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the
same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be
entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable
to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and order applicable to
judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge
shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement
of decision thereon pursuant to the California Code of Civil Procedure &sect; 644(a). Nothing in this paragraph shall limit the
right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The
private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">12.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>GENERAL PROVISIONS</U></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Successors and Assigns.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This EXIM Agreement
binds and is for the benefit of the successors and permitted assigns of each party. Borrower may not assign this EXIM Agreement
or any rights under it without Bank&rsquo;s prior written consent which may be granted or withheld in Bank&rsquo;s discretion.
Bank has the right, without the consent of or notice to Borrower, to sell, transfer, negotiate, or grant participation in all or
any part of, or any interest in, Bank&rsquo;s obligations, rights and benefits under this EXIM Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indemnification.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Borrower will indemnify,
defend and hold harmless Bank and its officers, employees, and agents against: (a) all obligations, demands, claims, and liabilities
asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (b) all losses or EXIM
Bank Expenses incurred, or paid by Bank from, following, or consequential to transactions between Bank and Borrower (including
reasonable attorneys fees and expenses), except for losses caused by Bank&rsquo;s gross negligence or willful misconduct.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Time of Essence.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Time is of the essence
for the performance of all obligations in this EXIM Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Severability of Provision.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each provision of
this EXIM Agreement is severable from every other provision in determining the enforceability of any provision.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Amendments in Writing, Integration.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All amendments to
this EXIM Agreement must be in writing. This EXIM Agreement represents the entire agreement about this subject matter, and supersedes
prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the
parties about the subject matter of this EXIM Agreement merge into this EXIM Agreement and the Loan Documents.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Counterparts.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This EXIM Agreement
may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and
delivered, are an original, and all taken together, constitute one Agreement.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Survival.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All
covenants, representations and warranties made in this EXIM Agreement continue in full force while any Obligations remain
outstanding. The obligations of Borrower in Section&nbsp;12.2 to indemnify Bank will survive until all statutes of
limitations for actions that may be brought against Bank have run.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Confidentiality.&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In handling
any confidential information, Bank shall exercise the same degree of care that it exercises for its own proprietary information,
but disclosure of information may be made: (a) to Bank&rsquo;s Subsidiaries or Affiliates (such Subsidiaries and Affiliates, together
with Bank, collectively, &ldquo;Bank Entities&rdquo;); (b)&nbsp;to prospective transferees or purchasers of any interest in the
Credit Extensions (provided, however, [Bank shall use its best efforts to obtain any prospective transferee&rsquo;s or purchaser&rsquo;s
agreement to the terms of this provision] [that any prospective transferee or purchaser shall have entered into an agreement containing
provisions substantially the same as those in this Section]); (c)&nbsp;as required by law, regulation, subpoena, or other order;
(d)&nbsp;to Bank&rsquo;s regulators or as otherwise required in connection with Bank&rsquo;s examination or audit; (e)&nbsp;as
Bank considers appropriate in exercising remedies under the Loan Documents; and (f) to third-party service providers of Bank so
long as such service providers have executed a confidentiality agreement with Bank with terms no less restrictive than those contained
herein.&nbsp; Confidential information does not include information that is either: (i)&nbsp;in the public domain or in Bank&rsquo;s
possession when disclosed to Bank, or becomes part of the public domain after disclosure to Bank; or (ii)&nbsp;disclosed to Bank
by a third party if Bank does not know that the third party is prohibited from disclosing the information.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Bank Entities may use the
confidential information for reporting purposes and the development and distribution of databases and market analyses so long as
such confidential information is aggregated and anonymized prior&nbsp;to distribution unless otherwise expressly prohibited by
Borrower.&nbsp; The provisions of the immediately preceding sentence shall survive the termination of this EXIM Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">12.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>EXIM Borrower Agreement; Cross-Collateralization; Cross-Default; Conflicts.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This EXIM Agreement,
the Domestic Loan Agreement and the EXIM Borrower Agreement shall continue in full force and effect, and all rights and remedies
under this EXIM Agreement, the Domestic Loan Agreement and the EXIM Borrower Agreement are cumulative. Without limiting the generality
of the foregoing, all &ldquo;<B>Collateral</B>&rdquo; as defined in this EXIM Agreement, the Domestic Loan Agreement and as defined
in the EXIM Borrower Agreement shall secure all EXIM Advances and all interest thereon, and all other Obligations. Any Event of
Default under this EXIM Agreement shall also constitute an Event of Default under the EXIM Borrower Agreement and the Domestic
Loan Agreement; any Event of Default under the Domestic Loan Agreement shall also constitute an Event of Default under the EXIM
Borrower Agreement and this EXIM Agreement; and any Event of Default under the EXIM Borrower Agreement shall also constitute an
Event of Default under this EXIM Agreement and the Domestic Loan Agreement. In the event Bank assigns its rights under this EXIM
Agreement, the Domestic Loan Agreement, or the EXIM Borrower Agreement and/or under any note evidencing EXIM Advances, to any third
party, including, without limitation, the EXIM Bank, whether before or after the occurrence of any Event of Default, Bank shall
have the right (but not any obligation), in its sole discretion, to allocate and apportion Collateral to the EXIM Borrower Agreement,
the Domestic Loan Agreement and/or note assigned and to specify the priorities of the respective security interests in such Collateral
between itself and the assignee, all without notice to or consent of the Borrower. Should any term of this EXIM Agreement conflict
with any term of the Domestic Loan Agreement or the EXIM Borrower Agreement, the more restrictive term in such agreements shall
govern Borrower.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-decoration: none; text-transform: uppercase; text-align: justify; text-indent: -0.5in">13.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>DEFINITIONS</U></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">13.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Definitions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Except as otherwise
defined, terms that are capitalized in this EXIM Agreement will have the same meaning assigned in the Domestic Loan Documents.
In this EXIM Agreement:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Account
Debtor</B>&rdquo; is as defined in the Uniform Commercial Code and shall include, without limitation, any person liable on any
EXIM Financed Receivable, such as, a guarantor of the EXIM Financed Receivable and any issuer of a letter of credit or banker&rsquo;s
acceptance.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Adjustments</B>&rdquo;
are all discounts, allowances, returns, disputes, counterclaims, offsets, defenses, rights of recoupment, rights of return, warranty
claims, or short payments, asserted by or on behalf of any Account Debtor for any EXIM Financed Receivable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Applicable
Rate</B>&rdquo; is defined in the Domestic Loan Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Buyer</B>&rdquo;
shall mean a Person that has entered into one or more Export Orders with Borrower or is an obligor on an Account.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Closing
Date</B>&rdquo; is the date Bank executes this EXIM Agreement as indicated on the signature page hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Collateral</B>&rdquo;
is the property described on Exhibit A.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Collections</B>&rdquo;
are all funds received by Bank from or on behalf of an Account Debtor for EXIM Financed Receivables.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Country
Limitation Schedule</B>&rdquo; shall mean the schedule published from time to time by EXIM Bank and provided to Borrower by Bank
which sets forth on a country by country basis whether and under what conditions EXIM Bank will provide coverage for the financing
of export transactions to countries listed therein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Credit
Extension</B>&rdquo; is any EXIM Advance, or any other extension of credit by Bank for Borrower&rsquo;s benefit under this EXIM
Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Deferred
Revenue</B>&rdquo; is all amounts received or invoiced, as appropriate, in advance of performance under contracts and not yet recognized
as revenue.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Domestic
Loan Agreement</B>&rdquo; means that certain Loan and Security Agreement of even date herewith between Borrower and Bank, as amended,
modified or restated from time to time.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Domestic
Loan Documents</B>&rdquo; the Domestic Loan Agreement, any note or notes executed by Borrower or any other agreement entered into
in connection with the Domestic Loan Agreement, between Borrower and Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM
Advance</B>&rdquo; or &ldquo;<B>EXIM Advances</B>&rdquo; is defined in Section&nbsp;2.1.1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Bank</B>&rdquo;
is the Export-Import Bank of the United States.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Bank
Expenses</B>&rdquo; are all audit fees and expenses; reasonable costs or expenses (including reasonable attorneys&rsquo; fees and
expenses) for preparing, negotiating, administering, defending and enforcing the EXIM Loan Documents (including appeals or Insolvency
Proceedings) and the fees that the Bank pays to the EXIM Bank in consideration of the issuance of the EXIM Guarantee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM
Borrower Agreement</B>&rdquo; is defined in Section&nbsp;2.7.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM
Eligible Foreign Accounts</B>&rdquo; means Accounts arising in the ordinary course of Borrower&rsquo;s business from
Non-U.S. Account Debtors and that meet all Borrower&rsquo;s representations and warranties in Section&nbsp;5.2 and conform in
all respects to the EXIM Borrower Agreement, and either (a) are guaranteed by EXIM Bank, less any deductible; (b) are
supported by letter(s) of credit acceptable to Bank; (c) are owing from an Account Debtor whose principal place of business
is located in Canada (provided that Bank has perfected its security interest in such Account to Bank&rsquo;s satisfaction),
or (d) that Bank approves in writing. The following are the minimum requirements (the &ldquo;Minimum EXIM Foreign Eligibility
Requirements&rdquo;) for an Account to be an EXIM Eligible Foreign Account. EXIM Eligible Foreign Accounts exclude any
Account:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that does not arise from the sale of Items in the ordinary course of the Borrower&rsquo;s business;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is not subject to a valid, perfected, and enforceable first priority security interest in favor of Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>as to which any covenant, representation or warranty contained in the Loan Documents relating to such Receivable has been
breached;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is not owned by the Borrower or is subject to any right, claim, or interest of another party other than the Lien in
favor of Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>with respect to which an invoice has not been sent;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>generated by the sale or provision of defense articles or services, subject to exceptions approved in writing by EXIM Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is due and payable from a military Buyer, subject to exceptions approved in writing by EXIM Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is due and payable from a foreign Buyer located in a country with which EXIM Bank is legally prohibited from doing
business as set forth in the current Country Limitation Schedule. (Note: If the Borrower has knowledge that an export to a country
in which EXIM Bank may do business, as set forth in the current Country Limitation Schedule, will be re-exported to a country with
which EXIM Bank is legally prohibited from doing business, the corresponding receivables (or a pro-rata portion thereof) are not
eligible for inclusion in the Export-Related Borrowing Base.);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that does not comply with the requirements of the Country Limitation Schedule;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that by its original terms is due and payable more than one-hundred-eighty (180) days from the date of invoice;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(k)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is not paid within sixty (60) calendar days from its original due date unless insured through EXIM Bank (or other acceptable)
export credit insurance for comprehensive commercial and political risk, in which case ninety (90) calendar days shall apply;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(l)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>of a Buyer for whom fifty percent (50%) or more of the Accounts of such Buyer do not satisfy the requirements of subclauses
(j) and (k) above;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that arises from a sale of goods to or performance of services for an employee, stockholder, or subsidiary of the Borrower,
intra-company receivables or any receivable from a stockholder, any person or entity with a controlling interest in the Borrower
or which shares common controlling ownership with the Borrower;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(n)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is backed by a letter of credit where the Items covered by the subject letter of credit have not yet been shipped,
or where the covered services have not yet provided;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(o)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that Bank or EXIM Bank, in its reasonable judgment, deem uncollectible or unacceptable; this category includes, but is not
limited to, finance charges or late charges imposed on the foreign buyer by the Borrower as a result of the foreign buyer&rsquo;s
past due status;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(p)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is denominated in non-U.S. currency, unless pre-approved in writing by EXIM Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(q)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that does not comply with the terms of sale as set forth by EXIM Bank;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(r)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is due and payable from a Buyer who becomes unable to pay its debts or whose ability to pay its debts becomes questionable;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(s)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that arises from a bill-and-hold, guaranteed sale, sale-and-return, sale on approval, consignment, or any other repurchase
or return basis or is evidenced by chattel paper;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(t)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>for which the Items giving rise to such Accounts have not been shipped to the Buyer or when the Items are services, such
services have not been performed or when the Export Order specifies a timing for invoicing the Items other than shipment or performance
and the Items have not been invoiced in accordance with such terms of the Export Order, or the Accounts do not otherwise represent
a final sale;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(u)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is subject to any offset, deduction, defense, dispute, or counterclaim, or the Buyer is also a creditor or supplier
of the Borrower, or the Account is contingent in any respect or for any reason;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>for which the Borrower has made any agreement with the Buyer for any deduction therefrom, except for discounts or allowances
made in the ordinary course of business for prompt payment;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(w)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>for which any of the Items giving rise to such Account Receivable have been returned, rejected, or repossessed;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(x)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that arises from the sale of Items that do not meet fifty percent (50%) U.S. Content requirements;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(y)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that is deemed to be ineligible by EXIM Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Bank reserves the
right at any time after the Closing Date to adjust the Minimum EXIM Foreign Eligibility Requirements in its good faith business
judgment and establish new criteria to determine the foregoing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Facility
Amount</B>&rdquo; is One Million Dollars ($1,000,000).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Financed
Receivable</B>&rdquo; is defined in Section 2.1.1(a)</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Financed
Receivable Balance</B>&rdquo; is the total outstanding gross face amount, at any time, of any EXIM Financed Receivable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Guarantee</B>&rdquo;
is that certain Master Guarantee Agreement or other agreement, as amended from time to time, the terms of which are incorporated
into this EXIM Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>EXIM Loan
Documents</B>&rdquo; means that certain Export-Import Bank Loan and Security Agreement (&ldquo;EXIM Loan Agreement&rdquo;), any
note or notes executed by Borrower or any other agreement entered into in connection with this EXIM Loan Agreement, pursuant to
which EXIM Bank guarantees Borrower&rsquo;s obligations under this EXIM Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Export
Order</B>&rdquo; is a written export order or contract for the purchase by the buyer from the Borrower of any finished goods or
services which are intended for export.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Facility
Amount</B>&rdquo; is defined in the Domestic Loan Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Foreign
Advance Rate</B>&rdquo; means&nbsp;(i)&nbsp;up to ninety percent (90%) of EXIM Eligible Foreign Accounts (other than Unhedged
EXIM Eligible Foreign Accounts or Distributor Accounts) which are invoiced in U.S. Dollars or foreign currencies hedged to the
satisfaction of Bank, or (ii)&nbsp;up to seventy percent (70%) of Unhedged EXIM Eligible Foreign Accounts and Distributor Accounts,
net of any offsets related to each specific Account Debtor, or such other percentage as Bank establishes under Section&nbsp;2.1.1.
Deferred Revenue may be offset at the discretion of Bank.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Invoice
Transmittal</B>&rdquo; shows EXIM Eligible Foreign Accounts which Bank may finance and, for each such Account, includes the Account
Debtor&rsquo;s, name, address, invoice amount, invoice date and invoice number.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Loan Documents</B>&rdquo;
are, collectively, this EXIM Agreement, the Domestic Loan Documents, any note, or notes or guaranties executed by Borrower in connection
with this EXIM Agreement or the Domestic Loan Documents, and any other present or future agreement between Borrower and/or for
the benefit of Bank in connection with this EXIM Agreement or the Domestic Loan Documents, all as amended, extended or restated.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Maturity
Date</B>&rdquo; is defined in the Domestic Loan Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Minimum
Foreign Eligibility Requirements</B>&rdquo; is defined in the term &ldquo;Eligible Foreign Accounts.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Obligations</B>&rdquo;
are debts, principal, interest, EXIM Bank Expenses and other amounts Borrower owes Bank now or later, including letters of credit
and exchange contracts and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations
of Borrower assigned to Bank and the Obligations of Borrower under the Domestic Loan Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Reconciliation
Period</B>&rdquo; is each calendar month.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>Unhedged
EXIM Eligible Foreign Account</B>&rdquo; means EXIM Eligible Foreign Accounts with regard to which the applicable invoice is denominated
in unhedged foreign currencies.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&ldquo;<B>U.S. Content</B>&rdquo;
means, with respect to any item, all the costs, including labor, materials, services and overhead, but not markup or profit margin,
which are of U.S. origin or manufacture, and which are incorporated into an Item in the United States.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties hereto have caused this EXIM Agreement to be executed as of the Closing Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">BORROWER:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">SOCKET MOBILE, INC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">By: /s/ David W. Dunlap</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Title: CFO</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">BANK:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">SILICON VALLEY BANK</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">By: /s/ Aman Johal</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Title: Relationship Manager</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Closing Date: October 12, 2011</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">EXHIBIT
A</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Collateral consists
of all of Borrower&rsquo;s right, title and interest in and to the following:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All goods, equipment,
inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, general intangibles
(including payment intangibles) accounts (including health-care receivables), documents, instruments (including any promissory
notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit rights (whether or
not the letter of credit is evidenced by a writing), commercial tort claims, securities, and all other investment property, supporting
obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and any copyright rights, copyright
applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or
unpublished, now owned or later acquired; any patents, trademarks, service marks and applications therefor; trade styles, trade
names, any trade secret rights, including any rights to unpatented inventions, know how, operating manuals, license rights and
agreements and confidential information, now owned or hereafter acquired; or any claims for damages by way of any past, present
and future infringement of any of the foregoing; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All Borrower&rsquo;s
books relating to the foregoing and any and all claims, rights and interests in any of the above and all substitutions for, additions,
attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or
all of the foregoing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">ANNEX
A</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Borrower Agreement</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1 PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 11pt Times New Roman, Times, Serif">

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

<P STYLE="font: bold 9pt Arial; margin: 0; text-align: right; color: Red"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 9pt Arial; margin: 0; text-align: left; color: Red"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exhibit
99.1</FONT></P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 14pt Times New Roman, Times, Serif"><B>Socket
Mobile Enters into New Bank Revolving Credit Line Agreements</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NEWARK,
CA, &ndash; October 18, 2011 &ndash; </B>Socket Mobile, Inc. (NASDAQ: SCKT) today reported that it has entered into new domestic
and international working capital revolving credit line agreements with Silicon Valley Bank and has activated the lines. Pursuant
to these agreements, the Company may borrow up to $2.5 million, of which up to $1.5 million is based on qualified receivables
from U.S. based customers and up to $1.0 million is based on qualified receivables from international customers. Borrowings under
the line are secured with a first priority security interest in all assets of the Company including its intellectual property.
The Agreements contain customary representations, warranties and covenants. A further description of the Agreements may be found
in a Form 8-K being filed today by the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black"><B>About
Socket Mobile, Inc.</B></FONT><B>&#9;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">With more
than 19 years of experience in the Automatic Identification and Data Capture market, Socket makes mobile computing and productivity
work. The company offers a family of handheld computers and an extensive portfolio of AIDC peripherals designed specifically for
business mobility deployments and to enable productivity increases and drive operational efficiencies in healthcare, hospitality
and other vertical markets. The company also offers OEM solutions for the mobile device market. Socket is headquartered in Newark,
Calif. and can be reached at 510-933-3000 or <U>www.socketmobile.com</U>. Follow Socket Mobile on Twitter <U>@socketmobile</U>
and subscribe to <U>sockettalk.socketmobile.com</U>, the company&rsquo;s official blog.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">Socket
    Media Contact:</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Krista
    Rogers</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Marketing
    Communications Specialist</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">510-933-3055</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in; font-style: italic"><FONT STYLE="font-family: Times New Roman, Times, Serif">krista@socketmobile.com</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in; font-style: italic"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">Socket
    Investor Contact:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">Investor
    Relations Contact:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dave
    Dunlap</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Todd
    Kehrli / Jim Byers</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">MKR
    Group, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">510-933-3035</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">323-468-2300</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in; font-style: italic"><FONT STYLE="font-family: Times New Roman, Times, Serif">dave@socketmobile.com</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in; font-style: italic"><FONT STYLE="font-family: Times New Roman, Times, Serif">sckt@mkr-group.com</FONT></TD></TR>
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