Exhibit 10.1


 


EXECUTION


 



Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.





 


CREDIT AGREEMENT


 


BETWEEN


 


GRANDPARENTS.COM, INC.


 


AND


 


VB FUNDING, LLC


 


DATED: July 8, 2015


 




     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



  


Table of Contents


 


	 	 	Page
	 	 	 
	ARTICLE I. Definitions	1
	1.1	Definitions	1
	1.2	Accounting Terms	7
	1.3	UCC Definitions	7
	 	 	 
	ARTICLE II. Term Loan Facility	7
	2.1	Term Loan	7
	2.2	The Note	7
	2.3	Advances of Term Loan	7
	2.4	Conditions to Additional Advance	7
	2.5	Interest	8
	2.6	Default Rate	8
	2.7	Late Charge	9
	2.8	Repayment of Loan	9
	2.9	Optional Prepayments	9
	2.10	Conversion Rights; Notice of Payments	9
	2.11	Computation of Interest and Fees	9
	2.12	Evidence of Debt	9
	2.13	Payments Generally	9
	 	 	 
	ARTICLE III. Representations and Warranties	9
	3.1	Good Standing and Authority	9
	3.2	Valid and Binding Obligation	10
	3.3	Good Title	10
	3.4	Reserved	10
	3.5	No Consent or Filing	10
	3.6	No Violations	10
	3.7	ERISA Matters	10
	3.8	Financial Statements; No Material Adverse Effect; and Solvency	11
	3.9	Litigation	11
	3.10	No Default	11
	3.11	Ownership of Property; Liens, etc.	12
	3.12	Environmental Compliance	12
	3.13	Insurance	13
	3.14	Taxes	13
	3.15	Subsidiaries; Equity Interests	13
	3.16	Margin Regulations; Investment Company Act; Public Utility Holding Company Act	13
	3.17	Disclosure	13
	3.18	Compliance with Laws	13
	3.19	Intellectual Property; Licenses, Etc.	14
	3.20	Perfection of Security Interest	14
	3.21	Casualty Events	14
	3.22	Labor Matters	14
	3.23	Collateral Documents	14
	3.24	Certain Transactions	14
	3.25	Accounts	14
	3.26	Prohibited Person Compliance	15
	3.27	Material Contracts	15


 




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Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


	
         ARTICLE IV. Affirmative Covenants
	15
	4.1	Future Financial Statements	15
	4.2	Use of Proceeds	15
	4.3	Taxes	15
	4.4	Insurance	16
	4.5	Litigation	16
	4.6	Preservation of Existence, etc.	16
	4.7	Books and Records	16
	4.8	Material Contracts	17
	4.9	Inspection Rights	17
	4.10	Continue Business	17
	4.11	Notices	17
	4.12	Environmental Compliance	17
	4.13	Further Assurances	17
	4.14	Common Stock Reserved	18
	4.15	Notice of Registration Requirement	18
	4.16	Covenant to Guarantee Obligations and Give Security	18
	 	 	 
	ARTICLE V. Negative Covenants	20
	5.1	Borrowed Money	20
	5.2	Encumbrances	20
	5.3	Guaranties	20
	5.4	Sale of Assets	20
	5.5	Acquisition or Merger	20
	5.6	Ownership Interests	20
	5.7	Investments and Loans	20
	5.8	Dividends or Distributions	20
	5.9	Pricing of Securities	20
	5.10	Commissions	21
	5.11	[***] Business	21
	 	 	 
	ARTICLE VI. Default	21
	6.1	Events of Default	21
	6.2	Effects of an Event of Default	23
	6.3	Remedies	23
	 	 	 
	ARTICLE VII. Expenses and Indemnification	23
	7.1	Reimbursement	23
	7.2	Indemnity	24
	 	 	 
	ARTICLE VIII. Other	24
	8.1	Notices	24
	8.2	Counterparts; Effectiveness	25
	8.3	Amendments and Waivers	25
	8.4	Delays and Omissions	25
	8.5	Successors and Assigns	25
	8.6	Entire Understanding	25
	8.7	Severability	25
	8.8	Force Majeure	25
	8.9	Governing Law	25
	8.10	Inconsistent Provisions	26
	8.11	Limitation of Liability	26
	8.12	Counterparts	26
	8.13	Submission to Jurisdiction	26
	
        

        8.14
	Waiver of Venue	26



 




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Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


	8.15	Service of Process	26
	8.16	Waiver of Jury Trial	27
	8.17	Waiver of Consequential Damages, Etc.	27
	8.18	Confidentiality	27
	8.19	Amendment and Restatement	27


 




     iii


     


    

  


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


CREDIT AGREEMENT


 


THIS CREDIT AGREEMENT
is made as of July 8, 2015, by and between GRANDPARENTS.COM, INC., a Delaware corporation (“Borrower”),
and VB FUNDING, LLC, a Delaware limited liability company (together with its participants, successors and assigns, “Lender”).


 


Lender previously provided
a $1,000,000 bridge loan (the “Bridge Loan”) to Borrower evidenced by (among other things) that certain Convertible
Promissory Note, dated as of May 18, 2015, in the aggregate principal amount of $1,000,000.


 


Borrower has requested
that Lender provide a multi-draw term loan credit facility to Borrower, and Borrower and Lender desire to amend and restate the
terms of the Bridge Loan to provide therefor, on the terms and conditions set forth herein.


 


In consideration of
the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows:


 


ARTICLE
I. Definitions


 


1.1           Definitions.
As used in this Agreement, unless otherwise specified, the following terms shall have the following respective meanings:


 


“Additional
Advance” – as defined in Section 2.3 of this Agreement.


 


“Affiliate”
- any Person who now or hereafter has Control of, or is now or hereafter under common Control with, Borrower or any Subsidiary
or over whom or over which Borrower or any Subsidiary now or hereafter has Control.


 


[***].


 


“Agreement”
- this agreement, including any Exhibit or Schedule hereto, as the same may be amended, supplemented, restated or otherwise modified
from time to time.


 


“Anti-Terrorism
Laws” - any Laws relating to terrorism or money laundering, including, without limitation, Executive Order No. 13224,
the USA Patriot Act, the Laws comprising or implementing the Bank Secrecy Act, and the Laws administered by the United States Treasury
Department’s Office of Foreign Asset Control (as any of the forgoing Laws may from time to time be amended, renewed, extended
or replaced).


 


“Bridge Note”
– as defined in the recitals of this Agreement.


 


“Business
Day” - a day of the year which is neither a Saturday or Sunday nor a legal holiday on which banks are required or authorized
by law to close in the State of New York.


 


“CERCLIS”
- the Comprehensive Environmental Response, Compensation and Liability Information System maintained by the U.S. Environmental
Protection Agency.


 


“Change of
Control of Borrower” means an event or series of events by which (a) during any period of twelve (12) consecutive months,
a majority of the members of the board of directors or other equivalent governing body of Borrower cease to be composed of individuals
(i) who were members of the board of directors or equivalent governing body on the first day of such period, (ii) whose election
or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting
at the time of such election or nomination at least a majority of that board or equivalent governing body, or (iii) whose election
or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii)
above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body (excluding,
in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member
of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for
the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more
directors by or on behalf of the board of directors); or (b) Steve Leber and Lee Lazarus shall, at any time, fail to serve on the
board of directors or other equivalent governing body of Borrower.


 




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Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


“Closing”
or “Closing Date” - the closing of the transactions provided for in this Agreement, or such other date upon
which the parties may agree.


 


“Collateral
Documents” - collectively, any guaranty, security agreement, mortgage, assignment of claims or contracts, and any and
all other documents at any time executed and delivered as collateral or security for the Loan, and any and all amendments, restatements,
renewals or replacements thereof.


 


“Constituent
Documents” - the certificate of incorporation and by-laws of Borrower.


 


“Contractual
Obligation” - as to any Person, any provision of any security issued by such Person or of any agreement, instrument or
other undertaking to which such Person is a party or by which it or any of its property is bound.


 


“Control”
- (a) the power to vote at least 51% of the outstanding shares of any class of stock of a corporation or equity, membership or
ownership interest in any partnership, limited partnership, limited liability company or other business entity, (b) the beneficial
ownership of at least 51% of (i) the outstanding shares of any class of stock of a corporation or (ii) of any outstanding equity,
membership or ownership interest in any other Person.


 


“Default”
- any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both,
would be an Event of Default.


 


“Default Rate”
- when used with respect to the Loan or any other unpaid overdue amount owing to Lender under any Loan Document, an interest rate
equal to 12.5% per annum, payable in cash upon demand of Lender.


 


“Environment”
- any water including, but not limited to, surface water and ground water or water vapor; any land including land surface or subsurface;
stream sediments; air; fish; wildlife; plants; and all other natural resources or environmental media.


 


“Environmental
Laws” - all foreign, federal, state, county, provincial and local environmental, land use, zoning, health, chemical use,
safety and sanitation laws, statutes, ordinances, regulations, codes and rules relating to the protection of the Environment and/or
governing the use, storage, treatment, generation, transportation, processing, handling, production or disposal of Hazardous Materials
and the policies, guidelines, procedures, interpretations, decisions, orders and directives of any Governmental Authority with
respect thereto.


 


“Environmental
Liability” – any liability, contingent or otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), of the Borrower or any Subsidiaries directly or indirectly resulting from or based
upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal
of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials
into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed
with respect to any of the foregoing.


 


“Event of
Default” - as defined in Article VI of this Agreement.


 




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Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


“Executive
Order No. 13224” - Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, as the same has been,
or shall hereafter be, amended, renewed, extended or replaced.


 


“GAAP”
- generally accepted accounting principles in the United States of America in effect from time to time and consistently applied
from period to period.


 


“Governmental
Authority” - the government of the United States or any other nation, or of any political subdivision thereof, whether
state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national
bodies such as the European Union or the European Central Bank).


 


“Guarantor”
– any Subsidiary of the Borrower other than [***].


 


“Hazardous
Materials” - without limitation, any flammable explosives, radon, radioactive materials, asbestos, asbestos containing
materials, urea formaldehyde foam insulation, lead based paints, polychlorinated biphenyls, petroleum and petroleum products, methane,
hazardous materials, hazardous wastes, hazardous or toxic substances, pollutant, contaminant, regulated substance, residual waste
or related materials as defined in or subject to any Environmental Law, including, without limitation, the following federal statutes
and any comparable Connecticut Environmental Laws: the Comprehensive Environmental Response, Compensation, and Liability Act of
1980, as amended (42 U.S.C. Sections 9601, et seq.), the Hazardous Materials Transportation Act, as amended (49 U.S.C. Sections
1801, et seq.), the Resource Conservation and Recovery Act, as amended (42 U.S.C. Sections 6901, et seq.), The Clean Water Act,
as amended (33 U.S.C. Sections 1251, et seq.), The Safe Drinking Water Act (42 U.S.C. Sections 300f, et seq.), The Clean Air Act
(42 U.S.C. Sections 7401, et seq.), and/or regulations adopted pursuant to any such Environmental Law.


 


“Indebtedness”
– as defined in Section 5.1 of this Agreement.


 





“Investment”
- as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other
acquisition of equity interests of another Person, (b) a loan, advance or capital contribution to, guarantee or assumption of debt
of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership
or joint venture interest in such other Person and any arrangement pursuant to which the investor guarantees indebtedness of such
other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person
that constitute a division or business unit. For purposes of covenant compliance, the amount of any Investment shall be the amount
actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.


 


“Laws”
- collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances,
codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether
or not having the force of law.


 


“Lien”
- any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference,
priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever
(including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to
real property, and any financing lease having substantially the same economic effect as any of the foregoing).


 


“Loan”
- as defined in Section 2.1 of this Agreement.






 




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Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


  


“Loan Document”
and collectively, “Loan Documents” - the Collateral Documents, the Note, and any other document, instrument
or agreements executed in connection with the Loan, as may be amended, modified or supplemented from time to time.


 


“Loan Notice”
- a written notice of a request for a Loan, which shall be substantially in the form of Exhibit B hereto.


 


“Loan Party”
– Borrower and each Guarantor (each a “Loan Party” and collectively, the “Loan Parties”)


 


“Margin Stock”
- as defined under Regulation U of the Board of Governors of the Federal Reserve System, as amended from time to time.


 


“Material
Adverse Effect” - a material adverse effect on: (a) the property, assets, financial condition, business or operations
of Borrowers and its Subsidiaries, taken as a whole; (b) the ability of Borrower or the Borrower and the other Loan Parties (taken
as a whole) to perform any of its or their payment or other obligations, as the case may be, under this Agreement, the Note, or
any Collateral Document to which it or they are a party; (c) the legality, validity or enforceability of the obligations of Borrower
or any Loan Party under this Agreement, the Note, or any Collateral Document to which it is are a party; or (d) the ability of
Lender to exercise its rights and remedies with respect to, or otherwise realize upon, any of the collateral or any of the security
for the obligations of Borrower or any Subsidiary to Lender under this Agreement, the Note, or any Collateral Document.


 


“Material
Contract”- with respect to Borrower, each agreement or contract to which Borrower is a party which is material to the
business, condition (financial or otherwise), operations, performance, or properties of Borrower and/or any of its Subsidiaries
and the loss of termination of which, unless otherwise replaced, would have a Material Adverse Effect.


 


“Maturity
Date” – July 8, 2025, unless such date is otherwise accelerated in accordance with the terms of this Agreement.


 


“Multiemployer
Plan” - any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower or any
ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated
to make contributions.


 


“Note”
- as defined in Section 2.2 of this Agreement.


 


“NPL”
- the National Priorities List under CERCLA.


 


“Obligations”
- all advances to, and debts, liabilities, obligations, covenants and duties of Borrower or any Subsidiary arising under any Loan
Document or otherwise with respect to the Loan, whether direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement
by or against Borrower or any Subsidiary or any Affiliate thereof of any proceeding under bankruptcy or any other Laws established
for the relief of debtors naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are
allowed claims in such proceeding.


 


“Payment Date”
- September 30, 2015 and the last Business Day of each succeeding calendar quarter of Borrower.


 


“Pension Plan”
- any pension plan as defined in Section 3(2) of the Employee Retirement Income Security Act of 1974 as amended (“ERISA”)
with respect to which Borrower or any Subsidiary has incurred or may incur liability, including contingent liability, under Title
IV of ERISA, to such plan or to the Pension Benefit Guaranty Corporation. For purposes of this definition and for purposes of Section
6.1(i), “Borrower” shall include any trade or business (whether or not incorporated) which, together with Borrower
or a Subsidiary, is deemed to be a “single employer” within the meaning of Section 4001(b)(1) of ERISA.


 




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Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


“Permitted Indebtedness”
means:


 


(i)          Indebtedness
evidenced by capitalized lease obligations and purchase money Indebtedness secured by Liens permitted by clause (v) of the definition
of “Permitted Liens”; provided that the aggregate principal amount of all such Indebtedness does not exceed $1,000,000
at any one time outstanding;


 


(ii)         Indebtedness
listed on Schedule 1.1 hereto;


 


(iii)        Indebtedness
under hedging agreements entered into in the ordinary course of business for the purpose of directly mitigating risks anticipated
by the Loan Parties and not for purposes of speculation or taking a “market view”;


 


(iv)        Indebtedness
in respect of netting services, overdraft protections and other like services, in each case incurred in the ordinary course of
business;


 


(v)         Indebtedness
consisting of contingent obligations permitted hereunder;


 


(vi)        Indebtedness
with respect to judgments or awards not constituting an Event of Default under Section 6.01(h);


 


(vii)       unsecured
Indebtedness owing to banks or other financial institutions under credit cards to officers and employees for, and constituting,
business related expenses in the ordinary course of business;


 


(viii)      Indebtedness
that is assumed in connection with any acquisition not to exceed $1,000,000; provided that, such Indebtedness was not incurred
in contemplation of such acquisition;


 


(ix)         Unsecured
indebtedness of a type not otherwise described above, not to exceed $1,000,000 in the aggregate at any one time outstanding; and


 


(x)          Any
extensions, refinancings or modifications of any of the foregoing (i)-(ix).


 


“Permitted
Liens” means:


 


(i)          Liens
securing the Obligations;


 


(ii)         Liens
listed on Schedule 1.2 hereof;


 


(iii)        Liens
for taxes, assessments and governmental charges the payment of which is not yet due and payable;


 


(iv)        Liens
imposed by law, such as carriers’, warehousemen’s, mechanics’, materialmen’s supplier’s and other
similar Liens arising in the ordinary course of business and securing obligations (other than Indebtedness for borrowed money)
that are not overdue by more than thirty (30) days or are being contested in good faith and by appropriate proceedings promptly
initiated and diligently conducted, and a reserve or other appropriate provision, if any, as shall be required by GAAP shall have
been made therefor;


 


(v)         Liens
securing Indebtedness permitted by clause (i) of the definition of Permitted Indebtedness on equipment acquired or leased by the
Borrower or any of its Subsidiaries in the ordinary course of its business to secure the purchase price of, or capital lease obligations
pertaining to, such equipment; provided, however, that (A) no such Lien shall extend to or cover any other property of the Borrower
or any of its Subsidiaries, and (B) the purchase money Indebtedness secured by any such Lien is incurred within ninety (90) days
after the acquisition of such equipment;


 




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Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


(vi)        deposits
and pledges of cash securing obligations incurred in respect of workers’ compensation, unemployment insurance, social security
or other forms of governmental insurance or benefits or other statutory obligations;


 


(vii)       easements,
zoning restrictions and similar encumbrances on real property and minor irregularities in the title thereto that do not (A) secure
obligations for the payment of money or (B) materially impair the value of such property or its use by any Loan Party or any of
its Subsidiaries in the normal conduct of such Person’s business;


 


(viii)      any
interest or title of a lessor, licensor, sublessor or sublicensor under any lease or license not prohibited by this Agreement;


 


(ix)         any
attachment or judgment lien arising solely as a result of judgments or awards that do not constitute an Event of Default hereunder;


 


(x)          Liens
in favor of collecting banks arising under Section 4-210 of the Uniform Commercial Code; and


 


(xi)         Liens
(including the right of setoff) in favor of a bank or other depository institution encumbering deposits granted in the ordinary
course of business.


 


“Permitted
Payments” means


 


(i)          any
Subsidiary of the Borrower may pay dividends to the Borrower or any Subsidiary of the Borrower;


 


(ii)         Borrower
may pay dividends in the form of capital stock or cash generally to all holders of common stock in Borrower;


 


(iii)        except
as limited elsewhere in this Agreement, payment of reasonable and customary directors’ fees and expenses and indemnities;
and


 


(iv)        other
payments, distributions or repurchases to unaffiliated third parties which are not management, officers or employees of Borrower
or any Subsidiary, not to exceed $1,000,000 in the aggregate during the term of the Loan.


 


“Person”
- any individual, corporation, limited liability company, partnership, joint venture, trust, unincorporated association, government
or political subdivision or other entity, body, organization or group.


 


“Reportable
Event” - any event with regard to a Pension Plan described in Section 4043(b) of ERISA, or in Regulations issued thereunder.


 


“Responsible
Officer” - the chief executive officer, chief operating officer, president, vice president, chief financial officer,
treasurer, assistant treasurer or secretary of Borrower. Any document delivered hereunder that is signed by a Responsible Officer
of Borrower shall be conclusively presumed to have been authorized by all necessary corporate and/or other action on the part of
Borrower and such Responsible Officer shall be conclusively presumed to have acted on behalf of Borrower.


 




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Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


“Subsidiary”
- any corporation, partnership, limited liability company or other entity, association or organization of which Borrower has Control,
or of which at least 51% of the voting interests is owned by Borrower, directly, or indirectly through one or more Subsidiaries.


 


“USA Patriot
Act” - the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001, Public Law 107 56, as the same has been, or shall hereafter be, renewed, extended, amended or replaced.


 


“Warrant”
– a warrant granting Lender the right to purchase common shares in Borrower, now or hereafter issued pursuant to the Warrant
Agreement.


 


“Warrant Agreement”
– that certain Warrant Agreement dated as of the date hereof between Borrower, as issuer, and Lender, as purchaser.


 


“Warrant Documents”
– the Warrant Agreement and each Warrant issued pursuant thereto.


 


1.2           Accounting
Terms. All accounting terms not otherwise defined herein shall have the meaning assigned to them in accordance with GAAP.


 


1.3           UCC
Definitions. Unless otherwise defined in this Agreement, capitalized words shall have the meanings set forth in the Uniform
Commercial Code as in effect in the State of New York.


 


ARTICLE
II. Term Loan Facility


 


2.1           Term
Loan. As of the date hereof, immediately prior to giving effect to this Agreement, the outstanding principal balance of
the Bridge Loan was $1,000,000. Subject to the terms and conditions set forth herein, Lender agrees to amend and restate the Bridge
Loan and increase the principal balance through a term loan (the “Loan”) to Borrower in an aggregate amount
not to exceed $8,000,000.00. Borrower may borrow under this Section 2.1 and Section 2.3, and prepay under Section 2.9. Amounts
borrowed may not be reborrowed once repaid.


 


2.2           The
Note. The Loan shall be evidenced by a note (the “Note”) executed by Borrower, and payable as provided in this
Agreement.


 


2.3           Advances
of Term Loan. The Loan shall be advanced in two disbursements. The initial advance of the Loan shall be in the amount of
$5,000,000.00, inclusive of the amount previously funded in connection with the Bridge Loan, with the remaining $4,000,000.00
of initially funded Loan proceeds to be disbursed by Lender as of the date hereof upon Borrower’s satisfaction of all of
Lender’s conditions precedent to the Loan closing, as determined in Lender’s sole discretion. The second advance of
the Loan (the “Additional Advance”) shall be in an amount elected by Borrower, not to exceed $3,000,000.00,
and shall be disbursed upon Borrower’s irrevocable Loan Notice to Lender, which may be given by a Responsible Officer of
Borrower. The Loan Notice must be received by Lender not later than 11:00 a.m. ten (10) Business Days (and not more than thirty
(30) Business Days) prior to the requested date of the Additional Advance. The Loan Notice shall be on letterhead of Borrower and
reference the wiring instructions for the account into which such proceeds are to be deposited and shall specify the requested
date of the borrowing of the Additional Advance (which shall be a Business Day). Following receipt of the Loan Notice and satisfaction
of all conditions specified in Section 2.4, Lender shall make the principal amount thereof available to Borrower by funding the
Additional Advance via wire transfer of immediately available U.S. Federal funds.


 


2.4           Conditions
to Additional Advance. The obligation of Lender to honor the Loan Notice and disburse the Additional Advances is subject
to the following conditions precedent:


 


(a)          The
representations and warranties of Borrower contained in Article III or any other Loan Document shall have been true and correct
on and as of the date hereof and shall be remain true when re-made pursuant to the Loan Notice as of the date of the Additional
Advance.


 




    	 	7	 



     


    

  


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


(b)          No
Default or Event of Default shall exist, or would result from the proposed Additional Advance or from the application of the proceeds
thereof.


 


(c)          The
Additional Advance shall be made on or prior to January 29, 2016, and not thereafter unless agreed to by Lender.


 


(d)          Lender
shall have received the Loan Notice in accordance with the requirements hereof.


 


(e)          Borrower
shall have issued and sold a Warrant permitting Lender to purchase 7,500,000 shares of common stock in Borrower, as more particularly
described in the Warrant Agreement.


 


(f)          Lender
shall have received such other approvals, opinions or documents as it may reasonably request.


 


(g)          The
Loan Notice submitted by Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections
2.4(a) and 2.4(b) have been satisfied on and as of the date of the Additional Advance.


 


2.5           Interest.
Subject to the provisions of Section 2.6, the Loan shall bear interest on the outstanding principal amount thereof at an aggregate
fixed rate per annum equal to seven and one-half percent (7.50%), as follows:


 


(h)          Interest
Payable in Cash. A portion of the interest accruing on the Loan equal to a fixed rate per annum of two and one-half percent
(2.50%) shall be due and payable in arrears, in cash, on each Payment Date and at such other times as may be specified herein.


 


(i)          Interest
Payable in Kind. A portion of the interest accruing on the Loan equal to a fixed rate per annum of five percent (5.00%)
shall be due in arrears on each Payment Date and at such other times as may be specified herein, and shall be deemed paid by increasing
the outstanding principal balance of the Loan by such amount.


 


(j)          AHYDO
Catch-Up.          Notwithstanding anything to the
contrary contained herein, if (i) the Loan remains outstanding after the fifth anniversary of the Closing Date and (ii) the aggregate
amount of the accrued but unpaid interest on the Loan (including any amounts treated as interest for federal income tax purposes,
such as original issue discount (“OID”)) as of any Testing Date occurring after such fifth anniversary exceeds
an amount equal to the Maximum Accrual, then all such accrued but unpaid interest on the Note (including any amounts treated as
interest for federal income tax purposes, such as OID) as of such time in excess of an amount equal to the Maximum Accrual shall
be paid in cash by the Borrower to the Lender (or any subsequent holder of the Note) on such Testing Date, it being the intent
of the parties hereto that the deductibility of interest on the Loan shall not be limited or deferred by reason of Section 163(i)
of the Internal Revenue Code of 1986, as amended (the “IRC”). For these purposes, the “Maximum Accrual”
is an amount equal to the product of the Loan’s issue price (as defined in IRC Sections 1273(b) and 1274(a)) and its yield
to maturity, and a “Testing Date” is any Interest Payment Date and the date on which any “accrual period”
(within the meaning of IRC Section 1272(a)(5)) closes.


 


2.6           Default
Rate. If any amount payable by Borrower under any Loan Document is not paid when due (with regard to any applicable grace
periods), whether at stated maturity, by acceleration or otherwise, then such amount shall thereafter bear interest at a rate per
annum at all times equal to the Default Rate. While any Event of Default exists and is continuing, Borrower shall pay interest
on the outstanding principal amount of the Loan at a rate per annum at all times equal to the Default Rate. Accrued and unpaid
interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. If interest on the
outstanding principal amount of the Loan is payable at the Default Rate, then the amount of interest payable exceeding a fixed
rate per annum of five percent (5.00%) shall be payable in cash on each Payment Date (or at such other times as may be specified
herein), and not in kind.


 




    	 	8	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


2.7           Late
Charge. Borrower shall pay to Lender a late charge equal to five percent (5%) of each payment of principal and/or interest
not paid within ten (10) days of the due date thereof to cover the expenses to Lender resulting from such delinquent payment.


 


2.8           Repayment
of Loan. Subject to the terms of Section 2.10, Borrower shall repay to Lender on the Maturity Date the aggregate principal
amount of the Loan outstanding on such date.


 


2.9           Optional
Prepayments. Subject to the terms of Section 2.10, Borrower may, at any time and from time to time, voluntarily prepay
the Loan in whole or in part without premium or penalty.


 


2.10         Conversion
Rights; Notice of Payments. Lender shall have the right to convert the principal balance of the Loan to common shares in
Borrower as more particularly described in the Note. In furtherance of Lender’s rights under this Section 2.10, Borrower
shall provide Lender not less than fifteen (15) days’ prior written notice of any unscheduled cash payment to be made hereunder
together with such financial information as reasonably requested by Lender and permitted by law to be disclosed, in order for Lender
to determine whether or not to accept such cash payment or elect to convert such portion of the indebtedness due hereunder to common
stock. Each such notice shall specify the date and amount of such payment. If such notice is given by Borrower, Borrower shall
make such payment, and the payment amount specified in such notice shall be due and payable on the date specified therein. Any
prepayment shall be accompanied by payment (whether in cash or in kind, as described in Section 2.5) of all accrued and unpaid
interest on the amount prepaid.


 


3.11         Computation
of Interest and Fees. All computations of fees and interest shall be calculated daily on the basis of a 360-day year and
actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day
year). Interest shall accrue on each Loan for the day on which such Loan is made. Each determination by Lender of an interest rate
or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.


 


3.12         Evidence
of Debt. The extensions of the Loan made by Lender shall be evidenced by one or more accounts or records maintained by
Lender in the ordinary course of business. The accounts or records maintained by Lender shall be conclusive absent manifest error
of the amount of such extensions made by Lender to Borrower and the interest and payments thereon. Any failure to so record or
any error in doing so shall not, however, limit or otherwise affect the obligations of Borrower hereunder to pay any amount owing
with respect to the Loan.


 


2.13         Payments
Generally. All payments to be made by Borrower shall be made without condition or deduction for any counterclaim, defense,
recoupment or setoff. Except as otherwise expressly provided herein, all payments by Borrower hereunder shall be made to Lender
in U.S. Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. If any payment to be
made by Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and
such extension of time shall be reflected in computing interest or fees, as the case may be.


 


ARTICLE
III. Representations and Warranties


 


Borrower hereby makes
the following representations and warranties as of the date hereof and as of the date of the Additional Advance.


 


3.1           Good
Standing and Authority. Borrower is a corporation, duly organized, and validly existing, and in good standing under the
laws of the State of Delaware. Each Subsidiary is a limited liability company, duly organized, and validly existing, and in good
standing under the laws of the State of Florida. Borrower and each Subsidiary has all necessary power and authority to transact
the business in which it is engaged; is duly licensed or qualified and in good standing in each other jurisdiction in which the
conduct of such business requires such licensing or such qualification, except where the failure to be so licensed or qualified
would not have a Material Adverse Effect. Borrower and each Guarantor has all necessary power and authority to enter this Agreement
and to execute, deliver and perform this Agreement, the Note, the Collateral Documents and any other document executed in connection
with this Agreement, all of which have been duly authorized by all proper and necessary action by Borrower and each Guarantor.


 




    	 	9	 



     


    

  


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


3.2           Valid
and Binding Obligation. This Agreement, the Collateral Documents, the Note, and any other document executed in connection
herewith constitute the legal, valid and binding obligations of Borrower and each Guarantor, enforceable in accordance with their
respective terms except as enforceability may be limited by applicable bankruptcy and insolvency laws and laws affecting creditor’s
rights generally.


 


3.3           Good
Title. Borrower and each Subsidiary has good and marketable title to all of its material assets, none of which is subject
to any mortgage, indenture, pledge, lien, conditional sale contract, security interest, encumbrance, claim, trust or charge except
as otherwise permitted herein.


 


3.4           Reserved.


 


3.5           No
Consent or Filing. No consent, license, approval or authorization of, or registration, declaration or filing with, any
court, Governmental Authority or other Person, which has not been obtained or made, is required in connection with the valid execution,
delivery or performance of this Agreement, the Note, the Collateral Documents or other documents required by this Agreement or
in connection with any of the transactions contemplated thereby, other than filings and recordings in connection with the Collateral
Documents.


 


3.6           No
Violations. Neither Borrower nor any Subsidiary is in violation of any term of its Constituent Documents, or of any mortgage,
borrowing agreement or other instrument or agreement pertaining to indebtedness for borrowed money which would be an Event of Default
hereunder. Neither Borrower nor any Subsidiary is in violation of any term of any other indenture, instrument, or agreement to
which it is a party or by which it may be bound, resulting, or which might reasonably be expected to result, in a Material Adverse
Effect. Neither Borrower nor any Subsidiary is in violation of any order, writ, judgment, injunction or decree of any court of
competent jurisdiction. To Borrower’s best knowledge, neither Borrower nor any Subsidiary is in violation of any statute,
rule or regulation of any competent Governmental Authority, the violation of which would have a Material Adverse Effect. The execution
and delivery of this Agreement, the Note, the Collateral Documents and other documents required by this Agreement and the performance
of all of the same is and will be in compliance with the foregoing and will not result in any violation or result in the creation
of any mortgage, lien, security interest, charge or encumbrance upon any properties or assets except in favor of Lender. There
exists no fact or circumstance not disclosed in this Agreement or in the documents furnished in connection herewith (other than
general economic conditions) which does, or in the future could, have a Material Adverse Effect.


 


3.7           ERISA
Matters. Except in compliance with all applicable Laws, no Pension Plan has been terminated or partially terminated or
is insolvent or in reorganization, nor have any proceedings been instituted to terminate or reorganize any Pension Plan; neither
Borrower nor any Subsidiary has withdrawn from any Pension Plan, nor has a condition occurred which if continued would result in
a complete or partial withdrawal; neither Borrower nor any Subsidiary has incurred any withdrawal liability to any Pension Plan;
neither Borrower nor any Subsidiary has incurred any liability to the Pension Benefit Guaranty Corporation other than for required
insurance premiums which have been paid when due; no Reportable Event has occurred; and no Pension Plan or other “employee
pension benefit plan” as defined in Section 3 of ERISA to which Borrower or any Subsidiary is a party has an “accumulated
funding deficiency.” Each Pension Plan and each other “employee benefit plan” as defined in Section 3(2) of ERISA
to which Borrower or any Subsidiary is a party is in substantial compliance with ERISA, and no such plan, or any administrator,
trustee or fiduciary thereof has engaged in a prohibited transaction described in Section 406 of ERISA or in Section 4975 of the
Internal Revenue Code.


 




    	 	10	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


3.8           Financial
Statements; No Material Adverse Effect; and Solvency.


 


(a)          Borrower
has made available to Lender a true, correct and complete copy of Borrower’s and its Subsidiaries’ consolidated 10-K
annual report for the period ending December 31, 2014 and a true, correct and complete copy of Borrower’s and its subsidiaries’
consolidated 10-Q quarterly report for the period ending March 31, 2015. The foregoing financial statements (i) were prepared in
accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii)
fairly present the financial condition of Borrower and its Subsidiaries as of the date thereof and their results of operations
for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of Borrower and
its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and indebtedness.


 


(b)          Schedule
1.1 sets forth all indebtedness for borrowed money evidenced by a promissory note of Borrower and its Subsidiaries as of the
Closing Date, as well as any other material indebtedness for borrowed money and other liabilities, direct or contingent, of Borrower
and its Subsidiaries as of the Closing Date, including liabilities for taxes, material commitments and indebtedness. True, correct
and complete copies of all documents, instruments or agreements evidencing the indebtedness set forth on Schedule 1.1 have
been delivered to Lender.


 


(c)          Except
as set forth in Schedule 3.8(b), as of the Closing Date: (i) there is no outstanding or authorized subscription, warrant,
option, or other right, commitment or arrangement (written or oral, or contingent or otherwise) to which Borrower or any Subsidiary
is a party or by which it is bound, to purchase or acquire any shares of, or any security directly or indirectly convertible in
or exchangeable or exercisable for, any capital stock of Borrower or any Subsidiary, (ii) neither Borrower nor any of its Subsidiaries
has any obligation (contingent or otherwise) to issue any warrants, options or other commitments or arrangements to issue or distribute
to holders of any shares of its capital stock, any evidences of indebtedness, or assets of Borrower or such Subsidiary, (iii) neither
Borrower nor any Subsidiary has any obligation (contingent or otherwise) to purchase, redeem or otherwise acquire any shares of
its capital stock or any interest therein or to pay any dividend or make any other distribution in respect thereof, and (iv) there
are no voting agreements or similar arrangements among Borrower or any Subsidiary or any of their respective stockholders.


 


(d)          Since
the date of the financial statements described in paragraph (a) above, there has been no event or circumstance, either individually
or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect.


 


(e)          Neither
Borrower nor any Subsidiary, on a consolidated basis, is insolvent as defined in any applicable state or federal statute, nor will
Borrower or any Subsidiary, on a consolidated basis, be rendered insolvent by the execution and delivery of this Agreement, the
Note or any of the Collateral Documents to Lender. Immediately after giving effect to the making of each of the Initial Advance
and the Additional Advance hereunder, Borrower and its Subsidiaries, on a consolidated basis, reasonably expect to (i) be able
to pay their debts as they become due, (ii) have funds and capital sufficient to carry on their business and all businesses in
which they are about to engage, and (iii) own property having a value at both fair valuation and at fair salable value greater
than the amount required to pay its debts as they become due.


 


3.9           Litigation.
As of the Closing Date, there are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of Borrower after
due and diligent investigation, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority,
by or against Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or
pertain to this Agreement or any other Loan Document or any of the transactions contemplated hereby, or (b) except as set forth
on Schedule 3.9 hereto, either individually or in the aggregate, if determined adversely, could reasonably be expected to
have a Material Adverse Effect.


 


3.10         No
Default. Neither Borrower nor any Subsidiary is in default under or with respect to any Contractual Obligation that could,
either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Event of Default has occurred
and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other Loan Document.


 




    	 	11	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


3.11         Ownership
of Property; Liens, etc..


 


(a)          Borrower
and each Subsidiary has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary
or used in the ordinary conduct of its business, except for such defects in title as would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.


 


(b)          As
of the date hereof, Schedule 3.11(b) sets forth a complete and accurate list of all Liens on the property or assets of Borrower
and each of its Subsidiaries, showing as of the date hereof the lienholder thereof, the principal amount of the obligations secured
thereby and the property or assets of Borrower or such Subsidiary subject thereto. The property of Borrower and each of its Subsidiaries
is subject to no Liens, other than Permitted Liens.


 


(c)          As
of the date hereof, neither Borrower nor any Subsidiary owns any real property.


 


(d)          As
of the date hereof, Schedule 3.11(d) sets forth a complete and accurate list of all leases of real property under which
Borrower or any Subsidiary is the lessee, showing as of the date hereof the street address, county or other relevant jurisdiction,
state, lessor, lessee, expiration date and annual rental cost thereof. Each such lease is the legal, valid and binding obligation
of the lessor thereof, enforceable in accordance with its terms and neither Borrower nor any Subsidiary is a party to any lease
of real property under which Borrower or any Subsidiary is the lessor.


 


3.12         Environmental
Compliance.


 


(a)          Borrower
and its Subsidiaries conducts in the ordinary course of business a review of the effect of existing Environmental Laws and claims
alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations
and properties, and as a result thereof Borrower has reasonably concluded that, except as specifically disclosed in Schedule
3.12, such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.


 


(b)          Except
as otherwise set forth in Schedule 3.12, none of the properties currently or formerly owned or operated by Borrower or any
of its Subsidiaries is listed or proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list
or is adjacent to any such property; there are no and never have been any underground or above-ground storage tanks or any surface
impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed
on any property currently owned or operated by Borrower or any of its Subsidiaries or, to the best of the knowledge of the Loan
Parties, on any property formerly owned or operated by Borrower or any of its Subsidiaries; there is no asbestos or asbestos-containing
material on any property currently owned or operated by Borrower or any of its Subsidiaries; and Hazardous Materials have not been
released, discharged or disposed of on any property currently or formerly owned or operated by Borrower or any of its Subsidiaries.


 


(c)          Except
as otherwise set forth on Schedule 3.12, neither Borrower nor any of its Subsidiaries nor any other potentially responsible
party is undertaking or will be undertaking, and has not completed, either individually or together with other potentially responsible
parties, any investigation or assessment or remedial or response action relating to any actual or threatened release, discharge
or disposal of Hazardous Materials at any property owned, leased or operated by such parties, either voluntarily or pursuant to
the order of any Governmental Authority or the requirements of any Environmental Law; and all Hazardous Materials generated, used,
treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by Borrower or any
of its Subsidiaries have been disposed of in a manner not reasonably expected to result in material liability to Borrower or any
of its Subsidiaries.


 




    	 	12	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.





 


3.13         Insurance.
The properties of Borrower and its Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates
of Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in
similar businesses and owning similar properties in localities where Borrower or the applicable Subsidiary operates. As of the
date hereof, the certificate attached in Schedule 3.13 identifies all insurance coverage maintained by Borrower and its
Subsidiaries, and such other information contained in such certificate is true and correct in all respects.


 


3.14         Taxes.
Borrower and its Subsidiaries have filed all Federal, state and other material tax returns and reports required to be filed, and
have paid all Federal, state and other material taxes, assessments, fees and other governmental charges levied or imposed upon
them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate
proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP. There is no proposed
tax assessment against Borrower or any Subsidiary thereof that would, if made, be reasonably expected to have a Material Adverse
Effect. Neither Borrower nor any Subsidiary thereof is party to any tax sharing agreement. Borrower and each of its Subsidiaries
maintain adequate reserves for the payment of payment of any sales or use tax obligations in each jurisdiction where Borrower or
such Subsidiary is required to pay such taxes.


 


3.15         Subsidiaries;
Equity Interests. As of the date hereof, Borrower has no Subsidiaries other than those specifically disclosed in of Schedule
3.15(a), and all of the outstanding equity interests in such Subsidiaries have been validly issued, are fully paid and non-assessable
and are owned by Borrower free and clear of all Liens. As of the date hereof, Borrower has no equity investments in any other corporation
or entity other than those specifically disclosed in Schedule 3.15(b). The Constituent Documents of Borrower and each amendment
thereto provided to Lender is a true and correct copy of each such document, each of which is valid and in full force and effect.


 


3.16         Margin
Regulations; Investment Company Act; Public Utility Holding Company Act. Neither Borrower nor any Subsidiary is engaged
and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock
(within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.
Neither Borrower nor any of its Subsidiaries is a “holding company”, or a “subsidiary company” of a “holding
company”, or an “affiliate” of a “holding company”, as such terms are defined in the Public Utility
Holding Company Act of 2005; neither Borrower nor any of its Subsidiaries is subject to regulation as a “public utility”
under the Federal Power Act, as amended; nor is it subject to regulation as an “investment company”, or an “affiliated
company” or a “principal underwriter” of an “investment company”, as such terms are defined in the
Investment Company Act of 1940.


 


3.17         Disclosure.
Borrower has disclosed to Lender all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries
is subject, and all other matters known to it, that, individually or in the aggregate, a breach of which would reasonably be expected
to result in a Material Adverse Effect. No report, financial statement, certificate or other information furnished (whether in
writing or orally) by or on behalf of Borrower to Lender in connection with the transactions contemplated hereby and the negotiation
of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified, supplemented or updated by
other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make
the statements therein, in the light of the circumstances under which they were made, not material misleading; provided
that, it is understood and agreed that any projections provided in connection herewith are by their nature presumptive, subject
to significant uncertainties and contingent on a wide range of factors, any of which are beyond the control of the Borrower and
its Subsidiaries, and that no assurance can be given that any of the projections will be realized and actual results may vary significantly.


 


3.18         Compliance
with Laws. Borrower and each Subsidiary is in compliance in all material respects with the requirements of all Laws and
all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement
of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or
(b) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material
Adverse Effect.


 




    	 	13	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


3.19         Intellectual
Property; Licenses, Etc.


 


(a)          Borrower
and its Subsidiaries own, or possess the right to use, any and all of the trademarks, service marks, trade names, copyrights, patents,
patent rights, franchises, licenses and other intellectual property rights (collectively, “Intellectual Property”)
that are reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person,
other than as disclosed on Schedule 3.19(a). As of the date hereof, Schedule 3.19(a) hereto is a complete description
of all Intellectual Property. To the knowledge of the Loan Parties, no slogan or other advertising device, product, process, method,
substance, part or other material now employed, or now contemplated to be employed, by Borrower or any Subsidiary thereof infringes
upon any rights held by any other Person. No claim or litigation regarding any of the foregoing against Borrower or any Subsidiary
thereof is pending or, to the knowledge of Borrower, threatened, which, either individually or in the aggregate, would reasonably
be expected to have a Material Adverse Effect.


 


(b)          Borrower
and its Subsidiaries has all requisite power and authority and all necessary licenses, permits and approvals (collectively, “Permits”)
to engage in and to otherwise carry on its businesses as now conducted, except for any such licenses, permits and approvals, the
failure of which to obtain or maintain would not, individually or in the aggregate, have a Materially Adverse Effect. As of the
date hereof, set forth in Schedule 3.19(b) hereto is a complete description of all Permits. Each Permit is validly issued
and in full force and effect, and Borrower and each of its Subsidiaries, as applicable, has fulfilled and performed all of its
obligations with respect thereto. No event has occurred which (i) has resulted in, or after notice or lapse of time or both would
result in, revocation or termination of any Permit, or (ii) materially and adversely affects or in the future would reasonably
be expected to materially adversely affect any of the rights of Borrower or any of its Subsidiaries thereunder.


 


3.20         Perfection
of Security Interest. The Collateral and Lender’s rights with respect to the Collateral are not subject to any setoff,
claims, withholdings or other defenses. Borrower is the owner of the Collateral free from any Lien and any other claim or demand,
and, except for Permitted Liens, there is no financing statement, security agreement, chattel mortgage, real estate mortgage or
other document filed or recorded with any filing records, registry or other public office that purports to cover, affect or give
notice of any present or possible future Lien on, or security interest in, any assets or property of any of Borrower or its Subsidiaries
or any rights relating thereto.


 


3.21         Casualty
Events. Neither the businesses nor the properties of Borrower or any of its Subsidiaries are affected by any fire, explosion,
accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy
or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, would reasonably be expected
to have a Material Adverse Effect.


 


3.22         Labor
Matters. There are no collective bargaining agreements or Multiemployer Plans covering the employees of Borrower or any
of its Subsidiaries as of the Closing Date and neither Borrower nor any Subsidiary of Borrower has suffered any strikes, walkouts,
work stoppages or other material labor difficulty within the last five years which, in each case, would reasonably be expected
to have a Material Adverse Effect.


 


3.23         Collateral
Documents. The provisions of the Collateral Documents are effective to create in favor of Lender a legal, valid and enforceable
first priority Lien on all right, title and interest of Borrower and the Guarantors in the Collateral described therein, in each
case subject to Permitted Liens.


 


3.24         Certain
Transactions. None of the current or former officers, directors or employees of Borrower or any Subsidiary (or any partnership,
trust or other entity in which such person has a substantial interest or is also an officer, director, trustee or partner) is presently
a party to any transaction with Borrower or any Subsidiary (other than for services as employees, officers and directors), unless
the same is on a third-party, arms’ length basis and is not otherwise prohibited by the Loan Documents.


 


3.25         Accounts.
As of the date hereof, Schedule 3.25 sets forth the account numbers and locations of all bank accounts and securities accounts
of Borrower and its Subsidiaries.


 




    	 	14	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


3.26         Prohibited
Person Compliance. Borrower warrants, represents and covenants that neither Borrower nor any Subsidiary nor any of their
respective Affiliates is or will be a Person (a) that is listed in the Annex to, or is otherwise subject to the provisions of,
Executive Order No. 13224, (b) whose name appears on the United States Treasury Department’s Office of Foreign Assets Control
(“OFAC”) most current list of “Specifically Designated National and Blocked Persons,” (c) who commits,
threatens to commit or supports “terrorism,” as defined in Executive Order No. 13224, or (d) who is otherwise affiliated
with any entity or person listed above (any and all parties or persons described in subparts (a) – (d) above are herein referred
to as a “Prohibited Person”). Borrower covenants and agrees that neither Borrower, nor any Subsidiary nor any
of their respective Affiliates will knowingly (i) conduct any business, nor engage in any transaction or dealing, with any Prohibited
Person, including, but not limited to, the making or receiving of any contribution of funds, goods, or services to or for the benefit
of a Prohibited Person, or (ii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of
evading or avoiding, or attempts to violate, any of the prohibitions set forth in Executive Order No. 13224. Borrower further covenants
and agrees to deliver (from time to time) to Lender any such certification or other evidence as may be requested by Lender in its
sole and absolute discretion, confirming each such representation.


 


3.27         Material
Contracts. Schedule 3.27 sets forth all Material Contracts of Borrower and its Subsidiaries as of the Closing Date.
All Material Contracts are in full force and effect with no default thereunder by any party thereto. To Borrower’s knowledge,
no party has any claim or right of offset to its obligations under any Material Contract. True, correct and complete copies of
all Material Contracts in effect as of the Closing Date have been delivered to Lender.


 


ARTICLE
II. Affirmative Covenants


 


Borrower covenants
and agrees, and shall cause each Subsidiary to covenant and agree, so long as any Obligations (other than any contingent indemnification
obligations not then due and owing) remain outstanding, to:


 


4.1           Future
Financial Statements. In accordance with and not in violation of any Applicable Laws (including rules and regulations of
the Securities and Exchange Commission), furnish to Lender or cause to be furnished to Lender upon request, unless otherwise publicly
available:


 


(a)          Public
Filings. Copies of all financial information, reports and other filings made with the Securities and Exchange Commission,
contemporaneously upon filing of the same.


 


(b)          Tax
Returns. As soon as available, and in any event within thirty (30) days after the filing of the same, signed copies of
all federal and state tax returns of Borrower, including all related schedules and forms, for the requested fiscal year(s), all
in reasonable detail and scope and certified by Borrower’s chief financial officer.


 


(c)          Other
Financial Information. Within fifteen (15) days following Lender’s request therefor, such other financial information
as reasonably requested by Lender and permitted by law to be disclosed.


 


4.2           Use
of Proceeds. Use the proceeds of the Loan for working capital and general corporate purposes only. In no event shall any
of Borrower’s or its Subsidiaries’ existing indebtedness evidenced by a promissory note be repaid using proceeds of
the Loan, other than the indebtedness evidenced by those promissory notes described on Schedule 4.2.


 


4.3           Taxes.
Promptly pay and discharge all of its taxes, assessments and other governmental charges prior to the date on which penalties are
attached thereto, establish adequate reserves for the payment of taxes

and assessments and make all required withholding and other tax deposits. Nothing herein shall be interpreted to require the payment
of any tax, assessment or charge so long as its validity is being contested in good faith and by appropriate proceedings diligently
conducted, and Borrower has established an adequate reserve for any such expense.


 




    	 	15	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


4.4           Insurance.


 


(a)          Keep
all its property so insurable insured at all times with financially sound and reputable insurers against fire, theft and other
risks (including, if required, flood) in coverage, form and amount reasonably satisfactory to Lender and as is customary in the
case of other Persons engaged in the same or similar business or having similar properties similarly situated. Such insurance shall
be in such minimum amounts that Borrower or any Subsidiary will not be deemed a co-insurer under applicable insurance laws, regulations
and policies and otherwise shall be in such amounts, contain such terms, be in such forms and be for such periods as may be reasonably
satisfactory to Lender. In addition, all such insurance shall be payable to Lender as loss payee under a “standard”
or “New York” loss payee clause. Without limiting the foregoing, Borrower will (a) keep all of its physical property
insured with casualty or physical hazard insurance on an “all risks” basis, with broad form flood and earthquake coverages
and electronic data processing coverage, with a full replacement cost endorsement and an “agreed amount” clause in
an amount equal to 100% of the full replacement cost of such property, and (b) maintain, in amounts and with deductibles equal
to those generally maintained by businesses engaged in similar activities in similar geographic areas, general public liability
insurance against claims of bodily injury, death or property damage occurring, on, in or about the properties of Borrower; and
business interruption insurance.


 


(b)          Keep
adequately insured at all times with financially sound and reputable insurers all coverage required under applicable worker’s
compensation Laws.


 


(c)          Promptly
deliver to Lender certificates of insurance in form and content acceptable to Lender for any of those insurance policies required
to be carried by Borrower pursuant hereto which shall be in the name of Lender and its successors and/or assigns, with appropriate
endorsements designating Lender as additional insured and mortgagee or lender loss payee, or both, as requested by Lender.


 


(d)          Cause
each policy of insurance to provide for at least thirty (30) days prior written cancellation notice to Lender.


 


4.5           Litigation.
Promptly notify Lender in writing as soon as Borrower has knowledge thereof, and furnish or cause to be furnished to Lender such
information regarding the same as Lender may request of (a) the institution or filing of any litigation, action, suit, claim or
counterclaim to which Borrower is a party, or (b) any administrative proceeding against, or investigation of, Borrower by or before
any regulatory body or governmental agency, in each case, where (i) the outcome of such litigation, action, suit, claim, counterclaim,
administrative proceeding or investigation would reasonably be expected to have a Material Adverse Effect, or (ii) such litigation,
action, suit, claim, counterclaim, administrative proceeding or investigation questions the validity of this Agreement, the Note,
or the Collateral Documents, or any action taken or to be taken pursuant to the foregoing; and furnish or cause to be furnished
to Lender such information regarding the same as Lender may reasonably request.


 


4.6           Preservation
of Existence, etc. (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under
the Laws of the jurisdiction of its organization, (b) take all reasonable action to maintain all Permits and all other rights,
privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent
that failure to do so would not reasonably be expected to have a Material Adverse Effect; (c) preserve or renew any and all of
its registered Intellectual Property, the non-preservation of which would reasonably be expected to have a Material Adverse Effect,
and (d) preserve and renew grandparents.com and all other domain name registrations and uniform resource locators, the non-preservation
of which would reasonably be expected to have a Material Adverse Effect.


 


4.7           Books
and Records. Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP
consistently applied shall be made of all financial transactions and matters involving the assets and business of Borrower or such
Subsidiary, as the case may be, and at all times engage Eisner Amper LLC or another nationally recognized certified public accountant
reasonably satisfactory to the Lender as the independent certified public accountants of Borrower and not permit more than thirty
(30) days to elapse between the cessation of such firm’s (or any successor firm’s) engagement as the independent certified
public accountants of Borrower and the appointment in such capacity of a successor firm as shall be satisfactory to Lender.


 




    	 	16	 



     


    

  


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


4.8           Material
Contracts. Perform and observe all the terms and provisions of each Material Contract to be performed or observed by it,
maintain each such Material Contract in full force and effect to the extent Borrower’s actions thereunder are required to
do so, enforce each such Material Contract in accordance with its terms. No Material Contract shall be voided, terminated, amended,
restated, modified or otherwise altered without the prior written consent of Lender, which consent shall not be unreasonably withheld,
conditioned or delayed so long as no Event of Default exists.


 


4.9           Inspection
Rights. Permit representatives and independent contractors of Lender to visit and inspect any of its properties, to examine
its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances
and accounts with its directors, officers, managers and independent public accountants, all at the expense of Lender and at such
reasonable times during normal business hours up to two times per calendar year, upon reasonable advance notice to Borrower; provided,
however, that when an Event of Default exists Lender (or any of its representatives or independent contractors) may do any
of the foregoing at the expense of Borrower at any time and without advance notice.


 


4.10         Continue
Business. Engage only in the business conducted by it on the date of this Agreement and other businesses reasonably related
or incidental thereto.


 


4.11         Notices.
Promptly notify Lender in writing of the occurrence of (a) any Event of Default or any act or condition, which, the giving of notice
or the passage of time might become an Event of Default; and (b) any matter that has resulted or could reasonably be expected to
result in a Material Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual Obligation
(including, without limitation, under any Material Contract) of Borrower or any Subsidiary; (ii) any dispute, litigation, investigation,
proceeding or suspension between Borrower or any Subsidiary and any Governmental Authority; or (iii) the commencement of, or any
material development in, any litigation or proceeding affecting Borrower or any Subsidiary, including pursuant to any applicable
Environmental Laws.


 


4.12         Environmental
Compliance.


 


(a)          Except
as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect: (i) comply in all material respects with
all Environmental Laws; and (ii) not suffer, cause or permit any material disposal of Hazardous Materials at any property owned,
leased or operated by it or any Subsidiary except in accordance with applicable Environmental Laws.


 


(b)          Upon
discovery by Borrower, promptly notify Lender in the event of the disposal of any Hazardous Substance in violation of any Environmental
Law at any property owned, leased or operated by Borrower, or in the event of any material Release, or material threatened Release,
of a Hazardous Substance in violation of any Environmental Law from any such property.


 


(c)          Deliver
promptly to Lender (i) copies of any documents received from the United States Environmental Protection Agency or any state, county
or municipal environmental or health agency concerning a violation or alleged violation by Borrower or any Subsidiary of any Environmental
Law; and (ii) copies of any documents submitted by Borrower to the United States Environmental Protection Agency or any state,
county or municipal environmental or health agency concerning the operations of Borrower or any Subsidiary.


 


4.13         Further
Assurances. Promptly upon request by Lender, (a) correct any material defect or error that may be discovered in any Loan
Document or in the execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge, deliver, record,
re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments
as Lender may reasonably require from time to time in order to (i) carry out more effectively the purposes of the Loan Documents,
(ii) to the fullest extent permitted by applicable Law, subject Borrower’s or any of its Subsidiaries’ properties,
assets, rights or interests to the Liens now or hereafter intended to be covered by any of the Collateral Documents, (iii) perfect
and maintain the validity, effectiveness and priority of any of the Collateral Documents and any of the Liens intended to be created
thereunder and (iv) assure, convey, grant, assign, transfer, preserve, protect and confirm more effectively unto Lender the rights
granted or now or hereafter intended to be granted to Lender under any Loan Document or under any other instrument executed in
connection with any Loan Document to which Borrower or any of its Subsidiaries is or is to be a party, and cause each of its Subsidiaries
to do so.


 




    	 	17	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


4.14         Common
Stock Reserved.


 


(a)          At
all times have authorized and will reserve and keep available, solely for issuance and delivery to Lender, that number of shares
of its common stock that may be required from time to time for issuance and delivery to Lender upon conversion of the indebtedness
pursuant to the Note and in connection with Lender’s rights under the Warrant Agreement (the “Conversion Shares”).


 


(b)          Take
all necessary steps to ensure that such Conversion Shares, when issued in accordance therewith, shall be duly and validly issued,
shall be fully paid and nonassessable, free and clear of any claim, lien, encumbrance, or security interest of any kind whatsoever,
and free from all preemptive rights of any security holders of Borrower.


 


(c)          Take
all action as may be necessary to assure that such Conversion Shares may be issued and delivered as provided herein without violation
of any applicable Laws, or of any requirements, of any domestic securities exchange or inter dealer quotation system upon which
the common shares may be listed.


 


4.15         Notice
of Registration Requirement. Upon conversion of the Note or exercise of any Warrant, file a Schedule 13D or Schedule 13G
under the Securities Act of 1934 and take all other actions required by Section 13(d) of the Securities Act of 1934 and Rule 13-3d
thereunder, on Lender’s behalf, at Lender’s sole cost and expense.


 


4.16         Covenant
to Guarantee Obligations and Give Security. 


 


(a)          Upon
the formation or acquisition of any new direct or indirect Subsidiary (other than [***]), Borrower shall, at the Borrower’s
expense:


 


(i)          within
10 days after such formation or acquisition, cause such Subsidiary, and cause each direct and indirect parent of such Subsidiary
(if it has not already done so), to duly execute and deliver to Lender a guaranty or guaranty supplement, in form and substance
reasonably satisfactory to the Lender, guaranteeing Borrower’s obligations under the Loan Documents;


 


(ii)         within
10 days after such formation or acquisition, furnish to Lender a description of the real and personal properties of such Subsidiary,
in detail reasonably satisfactory to Lender;


 


(iii)        within
15 days after such formation or acquisition, cause such Subsidiary and each direct and indirect parent of such Subsidiary (if it
has not already done so) to duly execute and deliver to Lender deeds of trust, trust deeds, deeds to secure debt, mortgages, leasehold
mortgages, leasehold deeds of trust, security agreement supplements, trademark assignments and other security and pledge agreements,
as specified by and in form and substance satisfactory to Lender, securing payment of all the Obligations;


 


(iv)        within
30 days after such formation or acquisition, cause such Subsidiary and each direct and indirect parent of such Subsidiary (if it
has not already done so) to take whatever action may be reasonably necessary or advisable in the opinion of Lender to vest in Lender
valid and subsisting Liens on the properties to be subject to security interest delivered pursuant to this Section 4.17, enforceable
against all third parties in accordance with their terms; and


 




    	 	18	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to
a Confidential Treatment Application filed with the Commission.


 


(v)         within
60 days after such formation or acquisition, deliver to the Lender, upon the request of the Lender in its reasonable discretion,
a signed copy of a favorable opinion, addressed to the Lender, of counsel for Borrower and its Subsidiaries acceptable to Lender
as to such matters as Lender may reasonably request.


 


(b)          Upon
the acquisition of any property by Borrower or any Subsidiary (other than [***]), whether real, personal or otherwise, if
such property, in the reasonable judgment of Lender, shall not already be subject to a perfected first priority security interest
in favor of Lender, then Borrower shall, at Borrower’s expense:


 


(i)          within
10 days after such acquisition, furnish to Lender a description of the property so acquired in detail reasonably satisfactory to
Lender; and


 


(ii)         within
15 days after such acquisition, cause Borrower or the applicable Subsidiary to duly execute and deliver to Lender the appropriate
security and pledge instruments and agreement, as specified by and in form and substance satisfactory to Lender, securing payment
of all the Obligations and constituting Liens on all such properties;


 


(iii)        within
30 days after such acquisition, cause Borrower or the applicable Subsidiary to take whatever action may be necessary or advisable
in the opinion of Lender to vest in Lender valid and subsisting first priority Liens on such property, enforceable against all
third parties; and


 


(iv)        within
60 days after such acquisition, deliver to the Lender, upon the request of Lender in its reasonable discretion, a signed copy of
a favorable opinion, addressed to the Lender, of counsel for Borrower and the Subsidiaries acceptable to Lender as to such matters
as the Lender may reasonably request.


 


(c)          Upon
the request of Lender following the occurrence and during the continuance of an Event of Default, Borrower shall, at Borrower’s
expense:


 


(i)          within
10 days after such request, furnish to the Lender a description of the real and personal properties of Borrower and the Subsidiaries
in detail satisfactory to Lender;


 


(ii)         within
15 days after such request, duly execute and deliver, and cause each Subsidiary to duly execute and deliver, to Lender all security
and pledge instruments and agreements as specified by and in form and substance satisfactory to Lender, securing payment of the
Obligations and constituting Liens on all such properties,


 


(iii)        within
30 days after such request, take, and cause each Subsidiary to take, whatever action may be necessary or advisable in the opinion
of Lender to vest in Lender valid and subsisting first priority Liens on such property, enforceable against all third parties;


 


(iv)        within
60 days after such acquisition, deliver to the Lender, upon the request of Lender in its sole discretion, a signed copy of a favorable
opinion, addressed to the Lender, of counsel for Borrower and the Subsidiaries acceptable to Lender as to such matters as the Lender
may reasonably request; and


 


(v)         Upon
request of Lender at any time, promptly execute and deliver any and all further instruments and documents and take all such other
action as the Lender may deem necessary or desirable in obtaining the full benefits of, or (as applicable) in perfecting and preserving
the Liens of, such security and pledge instruments and agreements.


 




    	 	19	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


ARTICLE
II. Negative Covenants


 


Borrower, without the
prior written consent of Lender, covenants and agrees (and shall cause each Subsidiary to covenant and agree) that so long as any
Obligations (other than contingent indemnification obligations not then due and owing) remain outstanding, it will not:


 


5.1           Borrowed
Money. Except for Permitted Indebtedness, create, incur, assume or suffer to exist any liability for borrowed money, purchase
money indebtedness or capitalized lease obligations (each such liability, “Indebtedness”).


 


5.2           Encumbrances.
Except for Permitted Liens, create, incur, assume or suffer to exist any mortgage, lien, security interest, pledge or other encumbrance
on any of its property or assets, whether now owned or hereafter owned or acquired.


 


5.3           Guaranties.
Except for obligations with respect to Permitted Indebtedness, become a guarantor, surety or otherwise liable for the debts or
other obligations of any other Person, whether by agreement to purchase the indebtedness of any other Person, or agreement for
the furnishing of funds to any other Person through the purchase of goods, supplies or services (or by way of stock purchase, capital
contribution, advance or loan) for the purpose of paying or discharging the indebtedness of any other Person, or otherwise, except
as an endorser of instruments for the payment of money deposited to its bank account for collection in the ordinary course of business.


 


5.4           Sale
of Assets. Dispose, convey, sell, transfer, lease, or sell and lease back, all or any portion of its property, assets,
or business to any other Person except: (a) dispositions of obsolete or worn out property, whether now owned or hereafter acquired,
in the ordinary course of business; (b) dispositions of inventory in the ordinary course of business; and (c) dispositions
of equipment in the ordinary course of business.


 


5.5           Acquisition
or Merger. Merge, consolidate, dissolve, or liquidate with or into any other Person or into any joint venture or partnership
with any other Person.


 


5.6           Ownership
Interests. Purchase, redeem, acquire or retire any of Borrower’s ownership interests whether such interests are in
the form of stock, partnership or limited partnership interests, limited liability company units or other ownership interests.


 


5.7           Investments
and Loans. Make or suffer to exist any Investments in, or loans or advances to, any other Person except (a) deposits, prepayments,
advance payments or deposits against purchases made in the ordinary course of Borrower’s regular business; (b) direct obligations
to the United States of America; (c) any existing Investments in, or existing advances to, any Affiliate or Subsidiary; (d) temporary
advances to employees to cover expenses incurred in the ordinary course of Borrower’s business; (e) loans and advances to
officers, directors and employees on third-party, arms’ length terms and other Investments, loans or advances, not to exceed
$1,000,000.00 in the aggregate at any time.


 


5.8           Dividends
or Distributions. Except for Permitted Payments, pay, make or declare, directly or indirectly, any dividends or distributions
on account of the capital stock of Borrower (including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of any such stock or other equity interest, or on account of any return of
capital), or incur any obligation (contingent or otherwise) to do so.


 


5.9           Pricing
of Securities. (a) Reduce the pricing of any existing subscription, warrant, option, or other right, commitment or arrangement
(written or oral, or contingent or otherwise) to purchase or acquire any shares of, or any security directly or indirectly convertible
in or exchangeable or exercisable for, any capital stock of Borrower or any Subsidiary without Lender’s prior written consent;
provided, however, that Lender shall not withhold its consent to any such reduction in repricing so long as the pricing for Lender’s
conversion rights under the Note and the exercise price under the Warrant are concurrently reduced by the same percentage pursuant
to documentation reasonably acceptable to Lender; and (b) issue, sell, grant or enter into any new, replacement or supplemental
subscription, warrant, option, or other right, commitment or arrangement (written or oral, or contingent or otherwise) to purchase
or acquire any shares of, or any security directly or indirectly convertible in or exchangeable or exercisable for, any capital
stock of Borrower or any Subsidiary that provides for pricing which is less than the pricing for Lender’s conversion rights
under the Note or the exercise price under the Warrant; provided, however, that Lender shall not withhold its consent to any of
the foregoing so long as the pricing for Lender’s conversion rights under the Note and the exercise price under the Warrant
(as the case may be) are concurrently reduced to the same pricing. For purpose of this Section 5.9, the preferred equity offering
by Borrower to Mel Harris and other accredited investors shall be deemed “existing” within the meaning of this Section
5.9.


 




    	 	20	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


5.10         Commissions.
Engage, hire, employ or pay any brokers, investment bankers, consultants or other professionals, or any director, officer or employee
of Borrower or any Subsidiary, or any other Person, in connection with the solicitation, obtaining, raising, negotiating or borrowing
of any loan, credit facility, raising of capital or other financing or capital transaction, including, without limitation, the
Loan.


 


5.11         [***]
Business.


 


(a)          Cause
or permit [***] to acquire any property or asset (including as holder of any loan) having a value in excess of $1,000,000,
excluding any deposit account exclusively holding member dues.


 


(b)          Cause
or permit [***] to withhold its customer data with Borrower at all times during the term of the Loan.


 


(c)          Cause
or permit [***] to engage in any line of business or provide any service, except to the extent such business or service
is provided to [***]’s customers indirectly by Borrower or another Subsidiary, acting through contractual agreement
with [***].


 


ARTICLE
III. Default


 


6.1           Events
of Default. The occurrence of any one or more of the following events shall constitute an event of default (individually,
“Event of Default”, or, collectively, “Events of Default”):


 


(a)          Nonpayment.
Borrower or any Guarantor fails to pay within three (3) Business Days of when due (pursuant to the terms of the Note or this Agreement)
whether by acceleration or otherwise (i) principal of the Loan or (ii) interest on, or any fee or premium provided for hereunder
or in the Note or any other Loan Document, provided, such three (3) Business Day grace period shall not be applicable to
the payment required on the Maturity Date.


 


(b)          Negative
Covenants. Borrower or any Subsidiary fails to perform, observe of comply with any of the covenants or agreements contained
in Article V of this Agreement.


 


(c)          Other
Covenants. Borrower or any Subsidiary fails to perform, observe or comply with any of the covenants or agreements contained
in this Agreement, other than in Article V, or in any other agreement with Lender or any of Lender’s Affiliates (whether
or not related to the Loan), which is not remedied within thirty (30) days after occurrence thereof.


 


(d)          Voluntary
Insolvency Proceedings. Borrower or any Subsidiary (i) files a petition or request for liquidation, reorganization, arrangement,
adjudication as a bankrupt, or other similar relief under the bankruptcy, insolvency or similar Laws of the United States of America
or any state or territory thereof or any foreign jurisdiction, now or hereafter in effect; (ii) consents to the filing of a petition
in any bankruptcy, liquidation, reorganization or insolvency proceeding; (iii) makes a general assignment for the benefit of creditors;
(iv) consents to the appointment of a receiver or trustee for Borrower or any Subsidiary or any of Borrower’s or any Subsidiary’s
assets, including, without limitation, the appointment of or taking possession by a “custodian” as defined in the federal
Bankruptcy Code; (v) makes any, or sends notice of any intended, bulk sale; or (vi) executes a consent to any other type of insolvency
proceeding (under the federal Bankruptcy Code or otherwise) or any formal or informal proceeding for the dissolution or liquidation
of, or settlement of claims against or winding up of affairs of, Borrower or any Subsidiary.


 




    	 	21	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


(e)          Involuntary
Insolvency Proceedings. The appointment of a receiver, trustee, custodian or officer performing similar functions for Borrower
or any Subsidiary or any of Borrower’s or any Subsidiary’s assets, including, without limitation, the appointment of
or taking possession by a “custodian” as defined in the federal Bankruptcy Code; or the filing against Borrower or
any Subsidiary of a request or petition for liquidation, reorganization, arrangement, adjudication as a bankrupt or other relief
under the bankruptcy, insolvency or similar Laws of the United States of America or any state or territory thereof or any foreign
jurisdiction, now or hereafter in effect; or the institution against Borrower or any Subsidiary of any other type of insolvency
proceeding (under the federal Bankruptcy Code or otherwise) or of any formal or informal proceeding for the dissolution or liquidation
of, settlement of claims against or winding up of affairs of Borrower or any Subsidiary, and the failure to have such appointment
vacated or such petition or proceeding dismissed within 60 days after such appointment, filing or institution.


 


(f)          Representations.
Any certificate, statement, representation, warranty or financial statement furnished by or on behalf of Borrower or any Subsidiary
pursuant to or in connection with this Agreement (including, without limitation, representations and warranties contained herein),
the Note, the Warrant Agreement, any other Loan Document, or as an inducement to Lender or any of Lender’s Affiliates to
enter into this Agreement or the Note proves to have been false in any material respect at the time as of which the facts therein
set forth were certified, or to have omitted any material contingent or unliquidated liability or claim against Borrower or any
Subsidiary, or on the date of the execution of this Agreement there is any materially adverse change in any of the facts disclosed
by any such statement or certificate, which change is not disclosed by Borrower or any Subsidiary to Lender at or prior to the
time of such execution.


 


(g)          Other
Indebtedness and Agreements. Borrower or any Subsidiary fails to pay any Indebtedness with principal amount in excess of
$100,000 owing by Borrower or any Subsidiary when due (or, if permitted by the terms of the applicable document, within any applicable
grace period), whether such Indebtedness shall become due by scheduled maturity, by required prepayment, by acceleration, by demand
or otherwise, or Borrower or any Subsidiary fails to perform or observe any material term, covenant or agreement on its part to
be performed under any agreement or instrument (other than this Agreement) evidencing or securing or relating to any such Indebtedness
owing by Borrower or any Subsidiary when required to be performed if the effect of such failure is to permit the holder to accelerate
the maturity of such Indebtedness.


 


(h)          Judgments.
Any judgment or judgments in excess of $100,000 (other than any judgment for which Borrower or any Subsidiary is insured) against
Borrower or any Subsidiary remain unpaid, unstayed on appeal, undischarged, unbonded or undismissed for a period of sixty (60)
days or more.


 


(i)          Pension
Default. Any Reportable Event which Lender determines constitutes grounds for the termination of any Pension Plan by the
Pension Benefit Guaranty Corporation (“PBGC”) or for the appointment by an appropriate United States district
court of a trustee to administer any Pension Plan occurs and continues for 30 days or more after written notice thereof to Borrower
or any Subsidiary by Lender; or the PBGC institutes proceedings to terminate any Pension Plan or to appoint a trustee to administer
any Pension Plan; or a trustee is appointed by an appropriate United States district court to administer any Pension Plan; or any
Pension Plan is terminated; or Borrower or any Subsidiary withdraws from a Pension Plan in a complete withdrawal or a partial withdrawal;
or Borrower or any Subsidiary fails to pay to any Pension Plan any contribution which it is obligated to pay under the terms of
such plan or any agreement, or which is required to meet statutory minimum funding standards of Section 412 of the Internal Revenue
Code or Section 303 of ERISA.


 




    	 	22	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


(j)          Challenge
to Collateral Documents. Borrower or any Subsidiary, directly or indirectly, challenges, or indicates its intention to
challenge, the validity and binding effect of any provision of the Note, the Collateral Documents or any Warrant Document, for
any reason (except to the extent permitted by their express terms) cease to be effective or cease to have the priority lien position
required by the terms thereof or by this Agreement or the collateral is no longer available, for any reason.


 


(k)          Change
of Control. There is a Change of Control of Borrower.


 


(l)          Termination
of Business. Borrower or any Loan Party terminates its legal existence or its business or ceases to operate as a going
concern.


 


(m)          Material
Adverse Change. Any event or condition in Borrower’s or any Subsidiary’s business, operations or financial
condition occurs or exists that has, or in Lender’s judgment, is likely to have, a Material Adverse Effect.


 


6.2           Effects
of an Event of Default.


 


(a)          Upon
the occurrence and continuation of one or more Events of Default (except a default under either Section 6.1(d) or 6.1(e) hereof),
Lender shall have the right to declare the principal of the Loan then outstanding to be immediately due and payable, together with
all interest thereon and fees and expenses accruing under this Agreement without presentation, demand or further notice of any
kind to Borrower or any Subsidiary and, if applicable, Borrower shall no longer be permitted to obtain the Additional Advance.


 


(b)          Upon
the occurrence and continuation of one or more Events of Default under Section 6.1(d) or 6.1(e) hereof, Lender’s commitments
and other obligations hereunder shall be cancelled immediately, automatically and without notice, and the Loan shall become immediately
due and payable without presentation, demand or notice of any kind to Borrower or any Subsidiary.


 


(c)          Borrower,
for itself and on behalf of each of its Subsidiaries, hereby waives as a defense to the nonperformance of any obligations under
the Loan Documents, the occurrence of unforeseen market conditions such as the dysfunctionality or seizure of the credit markets.


 


6.3           Remedies.
Upon the occurrence and during the continuance of any Event of Default or upon any termination of this Agreement as a result of
an Event of Default, then Lender shall have all of its rights under this Agreement, the Note, the other Loan Documents or otherwise
under Law. In addition to, and without limitation of, any rights of Lender under applicable Law, if any Event of Default occurs.
Lender may, in its sole discretion, exercise alternately or cumulatively any of the remedies available hereunder or under any other
Loan Document securing the indebtedness, or at law or equity. The failure to exercise one or more of such remedies upon the happening
of an Event of Default shall not constitute a waiver of the right to exercise the same at any subsequent time in respect of the
same Event of Default or any other Event of Default. Neither the acceptance by Lender of any payment hereunder which is less than
payment in full of all amounts due and payable at the time of such payment, or any negotiation or discussion with Borrower or any
Subsidiary, shall constitute a waiver of the right to exercise one or more of such remedies at that time or at any subsequent time
or nullify any prior exercise of any remedy, except as and to the extent otherwise provided by Law.


 


ARTICLE
II. Expenses and Indemnification


 


7.1           Reimbursement.
Borrower shall reimburse Lender promptly upon request by Lender for all of its reasonable expenses including, without
limitation, counsel fees and expenses (whether outside or internal), filing fees and recording fees incurred in connection
with this Agreement and with any indebtedness subject hereto, for any taxes which Lender or any of Lender’s Affiliate
may be required to pay in connection with the execution and delivery of this Agreement, the Note, the Collateral Documents,
any other Loan Document and/or the Warrant Documents for the preparation of any modifications, amendments or renewals
thereof, and for any expenses, including counsel fees and expenses (whether outside or internal) incident to the enforcement
of any provision of this Agreement, the Note, the Collateral Documents, any other Loan Document and/or the Warrant Documents,
including any filing under applicable Laws relating to or resulting from the ownership (or potential ownership) of shares of
common stock in Borrower and also including any filing made on Schedule 13D or Schedule 13G promulgated by the U.S.
Securities and Exchange Commission or otherwise in connection with Section 13(d) of the Securities Act of 1934 and Rule 13-3d
thereunder. Notwithstanding anything to the contrary contained herein, Borrower shall not be required to pay more than
$75,000 of Lender’s legal fees (of which $25,000 has been previously deposited with counsel for the Lender) incurred in
connection with the documentation and negotiation of the Loan and the execution and delivery of the Loan Documents.


 




    	 	23	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


7.2           Indemnity.
Borrower shall indemnify Lender and its Affiliates, directors, officers, employees, agents and advisors (each such Person being
called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by
any Indemnitee or asserted against any Indemnitee by any third party or by Borrower or any Subsidiary arising out of, in connection
with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument
contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder,
the consummation of the transactions contemplated hereby or thereby, or the administration of this Agreement and the other Loan
Documents, (ii) the Loan or the use or proposed use of the proceeds therefrom, (iii) the Warrant Documents, (iv) any actual or
alleged presence or release of Hazardous Materials on or from any property owned or operated by Borrower or any of its Subsidiaries,
or any Environmental Liability related in any way to Borrower or any of its Subsidiaries, or (v) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory,
whether brought by a third party or by Borrower or any Subsidiary, and regardless of whether any Indemnitee is a party thereto;
provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities
or related expenses (A) are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted
from the gross negligence, bad faith or willful misconduct of such Indemnitee or (B) result from a claim brought by Borrower or
any Subsidiary against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other
Loan Document, if Borrower or any Subsidiary has obtained a final and non-appealable judgment in its favor on such claim as determined
by a court of competent jurisdiction.


 


ARTICLE
III. Other


 


8.1           Notices.
Any notice required or permitted to be given under this Agreement or any other Loan Document shall be in writing and either shall
be sent by overnight courier service, personally delivered, or sent by U.S. certified or registered mail, to a representative of
the receiving party. All such communications shall be sent, delivered or mailed, addressed to the party for whom it is intended
at its address set forth below.


 


	
        

        If to Borrower or any Subsidiary:
	
        Grandparents.com, Inc.

        589 Eighth Avenue, 6th floor

        New York New York 10018

        Facsimile: (646) 654-6106

        Attention: Matthew Schwartz, VP & Chief

         

        Compliance Officer

	 	 
	If to Lender:	VB Funding, LLC

190 Farmington Avenue

Farmington, CT 06032

Facsimile: (860) 676-8617

Attention: VJ Dowling


 


Notices and other communications which
are sent by overnight courier service or U.S. certified or registered mail or personally delivered shall be deemed to have been
given when delivered to the designated address of the representative of the receiving party. Any party may designate a change of
address within the United States of America by written notice to the other parties by giving at least ten (10) days prior written
notice of such change of address.


 




    	 	24	 



     


    




 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


8.2           Counterparts;
Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of
an executed counterpart of a signature page of this Agreement by electronic mail or telecopy shall be effective as delivery of
a manually executed counterpart of this Agreement.


 


8.3           Amendments
and Waivers. No modification, rescission, waiver, release or amendment of any provision of this Agreement shall be made
except by another written agreement subscribed by duly authorized officers of Borrower and Lender.


 


8.4           Delays
and Omissions. No course of dealing and no delay or omission by Lender in exercising any right or remedy hereunder or with
respect to any indebtedness of Borrower to Lender shall operate as a waiver thereof or of any other right or remedy, and no single
or partial exercise thereof shall preclude any other or further exercise thereof or the exercise of any other right or remedy.
Lender may remedy any default by Borrower hereunder or with respect to any other person, firm or corporation in any reasonable
manner without waiving the default remedied and without waiving any other prior or subsequent default by Borrower and shall be
reimbursed for its expenses in so remedying such default. All rights and remedies of Lender hereunder are cumulative.


 


8.5           Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of Lender, Borrower and their respective successors
and assigns, except that (a) Borrower may not assign or transfer any of its rights hereunder without the prior written consent
of Lender, and (b) provided no Default or Event of Default has occurred and is continuing, Lender may not assign or transfer any
of its rights hereunder to a Person, other than an Affiliate of Lender, without the prior written consent of Borrower. Nothing
in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto and their
respective successors and assigns permitted hereby) any legal or equitable right, remedy or claim under or by reason of this Agreement.


 


8.6           Entire
Understanding. This Agreement, the Collateral Documents and any other Loan Documents represent the entire understanding
and agreement between the parties hereto with respect to the subject matter hereof and supersede all prior negotiations and writings
between the parties, including specifically, but without limitation, the application for the Loan, any commitment letter and correspondence
related thereto.


 


8.7           Severability.
If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality,
validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable
provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.


 


8.8           Force
Majeure. Borrower agrees that Lender shall not be liable and Borrower will indemnify and hold Lender harmless from and
against any error, failure or delay in the performance of any of Lender’s obligations under this Agreement which cause is
beyond the control of Lender, including, without limitation, any natural disaster, fire, flood, storm, war, strike, civil unrest,
terrorism, error in inoperability of communication equipment or links or power supply, compliance with Laws or governmental order,
direction of a jurisdiction or any other circumstances beyond the control of Lender or actions taken by Lender which were reasonably
believed by Lender to be taken pursuant to this Agreement.


 


8.9           Governing
Law. THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE)
BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY WILL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW OTHER THAN NEW YORK GENERAL
OBLIGATIONS LAW 5 1401 AND 5 1402.


 




    	 	25	 



     


    

  


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential
Treatment Application filed with the Commission.


 


8.10         Inconsistent
Provisions. The terms of this Agreement and any related agreements, instruments or other documents, including, without
limitation, the Note and the Collateral Documents, shall be cumulative except to the extent that they are specifically inconsistent
with each other, in which case the terms of this Agreement shall prevail.


 


8.11         Limitation
of Liability. To the fullest extent permitted by applicable Law, Borrower shall not assert, and hereby waives any claim
against Lender, on any theory of liability, for special, indirect, consequential or punitive damages (but excluding direct or actual
damages) arising out of, in connection with or as a result of, this Agreement, any related Loan Documents, the transactions contemplated
hereby or thereby or any Loan or the use of the proceeds.


 


8.12         Counterparts.
This Agreement may be executed in any number of counterparts and by the parties hereto on separate counterparts, each of which
when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same agreement.
Borrower agrees that in any legal proceeding, a copy of this Agreement kept in Lender’s course of business may be admitted
into evidence as an original.


 


8.13         Submission
to Jurisdiction. BORROWER IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING
OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST LENDER OR ANY RELATED
PARTY IN ANY WAY RELATING TO THIS AGREEMENT OR THE TRANSACTIONS RELATING HERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE SUPREME
COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY IN THE BOROUGH OF MANHATTAN AND OF THE UNITED STATES DISTRICT COURT FOR
THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY
SUBMITS TO THE EXCLUSIVE (SUBJECT ONLY TO THE LAST SENTENCE OF THIS SECTION 8.14) JURISDICTION OF SUCH COURTS AND AGREES THAT ALL
CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT
IN ANY SUCH ACTION, LITIGATION OR PROCEEDING WILL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT
OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT WILL AFFECT ANY RIGHT THAT LENDER MAY OTHERWISE HAVE TO BRING
ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AGAINST BORROWER OR ANY OF ITS PROPERTIES IN THE COURTS OF ANY OTHER JURISDICTION.


 


8.14         Waiver
of Venue. BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN SECTION 8.13. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING
IN ANY SUCH COURT.


 


8.15         Service
of Process. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES HEREIN. NOTHING
IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.


 




    	 	26	 



     


    



 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


8.16         Waiver
of Jury Trial. BORROWER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). BORROWER (A) CERTIFIES
THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF LENDER OR ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT LENDER OR
SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND
THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.


 


8.17         Waiver
of Consequential Damages, Etc.. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BORROWER SHALL NOT ASSERT, AND BORROWER
HEREBY WAIVES, ANY CLAIM AGAINST LENDER OR ANY OTHER INDEMNITEE, ON ANY THEORY OF LIABILITY, FOR SPECIAL, INDIRECT, CONSEQUENTIAL
OR PUNITIVE DAMAGES (AS OPPOSED TO DIRECT OR ACTUAL DAMAGES) ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF, THIS AGREEMENT,
ANY OTHER LOAN DOCUMENT OR ANY AGREEMENT OR INSTRUMENT CONTEMPLATED HEREBY, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.
NO INDEMNITEE SHALL BE LIABLE FOR ANY DAMAGES ARISING FROM THE USE BY UNINTENDED RECIPIENTS OF ANY INFORMATION OR OTHER MATERIALS
DISTRIBUTED BY IT THROUGH TELECOMMUNICATIONS, ELECTRONIC OR OTHER INFORMATION TRANSMISSION SYSTEMS IN CONNECTION WITH THIS NOTE
OR THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.


 


8.18         Confidentiality.
All references to Lender or its Affiliates contained in any press release, advertisement, promotional material or other information
prepared by Borrower or any Subsidiary must be approved in writing by Lender in advance of issuance and all references to Borrower
or its Affiliates contained in any press release, advertisement, promotional material or other information prepared by Lender must
be approved in writing by Borrower in advance of issuance. Notwithstanding the foregoing, each of Borrower and Lender retains the
right in its sole discretion to disclose this Agreement (including its terms and conditions), as well as the identity of the Borrower
or Lender, respectively, as needed to comply with its obligations under applicable Laws, including stock exchange regulations.


 


8.19         Amendment
and Restatement. This Agreement and the other Loan Documents amend and restate in their entireties all notes, security
agreements and other documents, instruments and other agreements executed in connection with the Bridge Loan. The parties hereto
acknowledge and agree that (a) this Agreement, the Note and the other Loan Documents do not constitute a novation, payment and
reborrowing or termination of the obligations evidenced by the documents, instruments and other agreements evidencing and governing
the Bridge Loan; (b) the Bridge Loan has not become due and payable prior to the date hereof as a result of the amendment and restatement
thereof; (c) the obligations in respect of the Bridge Loan are in all respects continuing with only the terms thereof being amended
and restated as provided in this Agreement and the other Loan Documents; and (d) upon the effectiveness of this Agreement, the
Bridge Loan will become part of the Loan on the terms and conditions set forth hereunder and the other Loan Documents, and amend
and restate such agreements executed in connection with the Bridge Loan.


 


[Signature Page Follows]


 




    	 	27	 



     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


IN WITNESS WHEREOF,
the parties hereto have caused this Credit Agreement to be signed by their duly authorized officers as of the date first written
above.


 


	 	Borrower:
	 	 
	 	GRANDPARENTS.COM, INC
	 	 	 
	 	By:	/s/ Steve Leber
	 	 	Name: Steve Leber
	 	 	Title: CEO
	 	 	 
	 	Lender:
	 	 
	 	VB FUNDING, LLC
	 	 	 
	 	By:	/s/ Vincent J. Dowling, Jr.
	 	 	Name: Vincent J. Dowling, Jr.
	 	 	Title: Managing Member
	 	 	 


 


CREDIT AGREEMENT


 




     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


THE UNDERSIGNED JOINS THIS CREDIT AGREEMENT FOR THE SOLE PURPOSE
OF GUARANTEEING LENDER’S OBLIGATION TO FUND THE ADDITIONAL ADVANCE PURSUANT TO SECTION 2.3 OF THIS CREDIT AGREEMENT, UPON
BORROWER’S SATISFACTION OF ALL CONDITIONS PRECEDENT THERETO, AND FOR NO OTHER PURPOSE.


 


/s/ [***]              


[***]


 


CREDIT AGREEMENT


 




     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


Exhibits


 


	Exhibit A -	Form of Loan Notice


 


Schedules


 


	Schedule 1.1–	Existing Indebtedness
	 	 
	Schedule 1.2 –	Existing Liens
	 	 
	Schedule 3.8(b) –	List of Stock Options and Warrants
	 	 
	Schedule 3.9 –	List of Litigation and Other Actions
	 	 
	Schedule 3.11(b) –	List of Liens
	 	 
	Schedule 3.11(d) –	List of Leased Real Property


 


	Schedule 3.12 –	Environmental Claims
	 	 
	Schedule 3.13 –	Insurance


 


	Schedule 3.15(a) –	List of Subsidiaries
	 	 
	Schedule 3.15(b) –	List of non-Subsidiary Equity Investments
	 	 
	Schedule 3.19(a) –	List of Intellectual Property
	 	 
	Schedule 3.19(b) –	List of Permits


 


	Schedule 3.25 –	List of Bank Accounts
	 	 
	Schedule 3.27 –	List of Material Contracts


 


	Schedule 4.2 –	Promissory Notes to be Repaid with Loan Proceeds


 




     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


EXHIBIT A


 


FORM OF LOAN NOTICE


 


[LETTERHEAD OF BORROWER]


 


	Date:	 	 


 


		To:	VB Funding, LLC



 


Ladies and Gentlemen:


 


Reference is made to
that certain Credit Agreement, dated as of July ___, 2015 (as amended, restated, extended, supplemented or otherwise modified in
writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined),
between Grandparents.com, Inc., a Delaware corporation (“Borrower”), and VB Funding, LLC.


 


Borrower hereby requests the Additional
Advance:


 


		1.	On [________] (a Business Day); and



 


		2.	In the amount of $______________; and



 


		3.	The proceeds of which are requested to be credited to the
following account of Borrower:



 


	Bank:	 	 
	Address:	 	 
	ABA:	 	 
	For Credit To:	 	 
	Account No.:	 	 


 


Borrower hereby represents
and warrants that the conditions specified in Section 2.4 shall be satisfied on and as of the date of such borrowing.


 


Borrower represents
and warrants that each of the representations and warranties set forth in Article III or any other Loan Document was true and correct
as of the date hereof, and the undersigned hereby remakes and reaffirms such representations and warranties as of the date hereof.
To the extent any such representation or warranty specifically refers to an earlier date, then for purposes of this certificate,
such representation and warranty shall be deemed to refer to the date hereof (provided, the representations and warranties
contained in subsection (a) of Section 3.8 shall be deemed to refer to the most recent statements furnished pursuant to clause
(a), respectively, of Section 4.1).


 


	 	GRANDPARENTS.COM, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:


 




     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.


 


Schedule 1.1 - List of Indebtedness
and Liabilities


 


	Date	 	Unsecured Note Holder	 	Maturity	 	Principle

    Balance as 
 of 3-31-14	 	 	Int.
  Rate	 	 	Outstanding
 Principal &
 Cummulative 
 Interest @
 6/30/15	 	 	Notes/
 Comments
	2/23/2012	 	Leber Bernstein Group LLC	 	Contingent	 	$	612,500	 	 	 	5	%	 	$	715,115	 	 	Note 1
	2/23/2012	 	Meadows Capital LLC	 	Contingent	 	$	308,914	 	 	 	5	%	 	$	351,671	 	 	Note 1
	2/23/2012	 	Steve Leber	 	Contingent	 	$	78,543	 	 	 	5	%	 	$	91,702	 	 	Note 1
	2/26/2013	 	Steve Leber	 	6/30/2015	 	$	100,000	 	 	 	10	%	 	$	123,342	 	 	Note 2
	2/26/2013	 	Mel Harris	 	6/30/2015	 	$	100,000	 	 	 	10	%	 	$	123,342	 	 	Note 2
	2/26/2013	 	Meadows Capital LLC	 	6/30/2015	 	$	100,000	 	 	 	10	%	 	$	123,342	 	 	Note 2
	2/5/2015	 	Lee Lazarus	 	Demand	 	$	50,000	 	 	 	10	%	 	$	51,986	 	 	Note 2
	2/5/2015	 	Steve Leber	 	Demand	 	$	50,000	 	 	 	10	%	 	$	51,986	 	 	Note 2
	4/28/2015	 	Mel Harris	 	Various	 	$	450,000	 	 	 	5	%	 	 	 	 	 	Note 3
	5/18/2015	 	VB Funding LLC	 	5/18/2016	 	$	1,000,000	 	 	 	7.5	%	 	 	 	 	 	Note 4



 


		Note 1:	Maturity is when Company has EBITDA equal to or greater
than $2.5 million or completes an equity or debt financing with gross proceeds to the Company of at least $10 Million.



 


		Note 2:	To be repaid from proceeds of currently contemplated transaction



 


		Note 3:	Consists of two $25,000 demand notes as well as a $150,000
& $250,000 loan to the Company. The lender has agreed to convert the aggregate ($450,000) into a preferred stock offering
which, if it ocurs, shall cancel the $450K indebtedness.



 


		Note 4:	Convertible Promissory Note



 


Schedule 1.2 - Existing Liens


 


None.


 


Schedule 3.8(b) - List of Stock Options
and Warrants


 


	Warrant or Option	 	Holder	 	Date of
 Issuance	 	Expiration
 Date	 	No. of 
 Common
 Shares for
 Fully
 Vested
 Options/
 Warrants	 	 	Current
 Exercise
 Price	 
	Warrants	 	ALAN R. ORTEGA	 	7/16/2012	 	2/23/2017	 	 	3,762	 	 	$	0.23	 
	Warrants	 	BMA SECURITIES, INC.	 	7/16/2012	 	2/23/2017	 	 	338,312	 	 	$	0.23	 
	Warrants	 	CHRISTOS ANGELO KALATOUDIS	 	7/16/2012	 	2/23/2017	 	 	165,514	 	 	$	0.23	 
	Warrants	 	DAVID EISENBERG	 	7/16/2012	 	2/23/2017	 	 	60,186	 	 	$	0.23	 
	Warrants	 	GEORGE BELESIS	 	7/16/2012	 	2/23/2017	 	 	67,710	 	 	$	0.23	 
	Warrants	 	JEFFREY A. SILVERMAN	 	7/16/2012	 	2/23/2017	 	 	500,000	 	 	$	0.23	 



 






     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


	Warrants	 	JOHN BELESIS	 	7/16/2012	 	2/23/2017	 	 	92,537	 	 	$	0.23	 
	Warrants	 	JOHNNIE M. JONES	 	7/16/2012	 	2/23/2017	 	 	15,047	 	 	$	0.23	 
	Warrants	 	JON P. PECORELLA	 	7/16/2012	 	2/23/2017	 	 	22,570	 	 	$	0.23	 
	Warrants	 	JOSEPH CONIGLIO	 	7/16/2012	 	2/23/2017	 	 	3,010	 	 	$	0.23	 
	Warrants	 	RON CANTALUPO	 	7/16/2012	 	2/23/2017	 	 	67,710	 	 	$	0.23	 
	Warrants	 	SCOTT J. LEVINE	 	7/16/2012	 	2/23/2017	 	 	37,617	 	 	$	0.23	 
	Warrants	 	David L. Feavel	 	12/7/2012	 	12/7/2017	 	 	250,000	 	 	$	0.50	 
	Warrants	 	Nicholas Krafft	 	12/7/2012	 	12/7/2017	 	 	25,000	 	 	$	0.50	 
	Warrants	 	Richard Cohen	 	12/14/2012	 	12/14/2017	 	 	150,000	 	 	$	0.50	 
	Warrants	 	Phil Meisel	 	12/29/2012	 	12/19/2017	 	 	125,000	 	 	$	0.25	 
	Warrants	 	Deepak Chopra, LLC	 	1/1/2013	 	12/31/2016	 	 	1,500,000	 	 	$	0.30	 
	Warrants	 	Mel Harris Declaration of Trust	 	1/8/2013	 	1/8/2018	 	 	3,000,000	 	 	$	0.25	 
	Warrants	 	Nicholas Krafft	 	1/29/2013	 	1/29/2018	 	 	25,000	 	 	$	0.50	 
	Warrants	 	Jeffrey Wasserman	 	1/31/2013	 	1/31/2018	 	 	500,000	 	 	$	0.60	 
	Warrants	 	Mel Harris Declaration of Trust	 	1/31/2013	 	1/31/2018	 	 	500,000	 	 	$	0.25	 
	Warrants	 	Michael Q. Egan	 	2/1/2013	 	2/1/2018	 	 	25,000	 	 	$	0.50	 
	Warrants	 	Arlene Wildenburg	 	2/26/2013	 	2/26/2018	 	 	25,000	 	 	$	0.25	 
	Warrants	 	Dr. Robert Cohen	 	2/26/2013	 	2/26/2018	 	 	240,000	 	 	$	0.25	 
	Warrants	 	Dr. Robert Cohen	 	2/26/2013	 	2/26/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Jan Stein	 	2/26/2013	 	2/26/2018	 	 	25,000	 	 	$	0.25	 
	Warrants	 	Joseph Bernstein	 	2/26/2013	 	2/26/2018	 	 	380,000	 	 	$	0.25	 
	Warrants	 	Joseph Bernstein	 	2/26/2013	 	2/26/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Steve Leber	 	2/26/2013	 	2/26/2018	 	 	380,000	 	 	$	0.25	 
	Warrants	 	Steve Leber	 	2/26/2013	 	2/26/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	David Eisenberg	 	3/16/2013	 	2/23/2017	 	 	250,000	 	 	$	0.23	 
	Warrants	 	Demetrios Mallios	 	3/16/2013	 	2/23/2017	 	 	51,373	 	 	$	0.23	 
	Warrants	 	Eric Mirman	 	3/16/2013	 	2/23/2017	 	 	51,373	 	 	$	0.23	 
	Warrants	 	Erik Anderson	 	3/16/2013	 	2/23/2017	 	 	10,000	 	 	$	0.23	 
	Warrants	 	Jacqueline Senn	 	3/16/2013	 	2/23/2017	 	 	10,000	 	 	$	0.23	 
	Warrants	 	John Ward	 	3/16/2013	 	2/23/2017	 	 	10,000	 	 	$	0.23	 
	Warrants	 	Maria Cummings	 	3/16/2013	 	2/23/2017	 	 	20,000	 	 	$	0.23	 
	Warrants	 	Michael Egan	 	3/16/2013	 	2/23/2017	 	 	5,000	 	 	$	0.23	 
	Warrants	 	Robert Bursky	 	3/16/2013	 	2/23/2017	 	 	26,805	 	 	$	0.23	 
	Warrants	 	Russ Steward	 	3/16/2013	 	2/23/2017	 	 	282,554	 	 	$	0.23	 
	Warrants	 	Stacey Thomson	 	3/16/2013	 	2/23/2017	 	 	25,687	 	 	$	0.23	 
	Warrants	 	Theresa Montuori	 	3/16/2013	 	2/23/2017	 	 	5,000	 	 	$	0.23	 
	Warrants	 	Thomas Pinou	 	3/16/2013	 	2/23/2017	 	 	25,687	 	 	$	0.23	 
	Warrants	 	Leon Frenkel	 	4/1/2013	 	4/1/2018	 	 	150,000	 	 	$	0.25	 
	Warrants	 	Mel Harris Declaration of Trust	 	4/2/2013	 	4/2/2018	 	 	500,000	 	 	$	0.25	 
	Warrants	 	Alla Pasternack	 	4/4/2013	 	4/4/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Gilbert Insurance Services, Inc 401K Profit Sharing Plan	 	4/26/2013	 	4/26/2018	 	 	250,000	 	 	$	0.25	 
	Warrants	 	Robert Frome	 	5/6/2013	 	5/6/2018	 	 	25,000	 	 	$	0.25	 



 






     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


	Warrants	 	Robert Frome	 	5/20/2013	 	5/20/2018	 	 	25,000	 	 	$	0.25	 
	Warrants	 	Feliks Frenkel	 	5/30/2013	 	5/30/2018	 	 	60,000	 	 	$	0.25	 
	Warrants	 	Grandparents Capital LLC	 	5/31/2013	 	5/31/2018	 	 	1,002,800	 	 	$	0.25	 
	Warrants	 	Michael Egan	 	5/31/2013	 	5/31/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Steve Gidumal	 	6/17/2013	 	6/17/2018	 	 	125,000	 	 	$	0.25	 
	Warrants	 	Aurora Frid	 	6/20/2013	 	6/20/2018	 	 	40,000	 	 	$	0.30	 
	Warrants	 	Clare Davis	 	6/20/2013	 	6/20/2018	 	 	50,000	 	 	$	0.30	 
	Warrants	 	Deborah Long	 	6/20/2013	 	6/20/2018	 	 	75,000	 	 	$	0.30	 
	Warrants	 	Gretchen Schmoker	 	6/20/2013	 	6/20/2018	 	 	36,000	 	 	$	0.30	 
	Warrants	 	Joseph Bernstein	 	6/20/2013	 	6/20/2018	 	 	1,000,000	 	 	$	0.25	 
	Warrants	 	L&M Medical Ventures LLC	 	6/20/2013	 	6/20/2018	 	 	25,000	 	 	$	0.25	 
	Warrants	 	Lee Lazarus	 	6/20/2013	 	6/20/2018	 	 	1,000,000	 	 	$	0.25	 
	Warrants	 	Leon Bernstein	 	6/20/2013	 	6/20/2018	 	 	48,000	 	 	$	0.30	 
	Warrants	 	Marion Owens	 	6/20/2013	 	6/20/2018	 	 	38,400	 	 	$	0.30	 
	Warrants	 	Raphael Bernstein	 	6/20/2013	 	6/20/2018	 	 	12,000	 	 	$	0.30	 
	Warrants	 	Robert Cohen	 	6/20/2013	 	6/20/2018	 	 	1,000,000	 	 	$	0.25	 
	Warrants	 	Steve Leber	 	6/20/2013	 	6/20/2018	 	 	1,000,000	 	 	$	0.25	 
	Warrants	 	Yitzchok Frid	 	6/20/2013	 	6/20/2018	 	 	48,000	 	 	$	0.30	 
	Warrants	 	Matthew Dontzin	 	6/25/2013	 	6/25/2018	 	 	250,000	 	 	$	0.25	 
	Warrants	 	David Kikumoto	 	7/1/2013	 	7/1/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Lauren Busch	 	7/1/2013	 	7/1/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Joseph Rutledge	 	7/12/2013	 	7/12/2018	 	 	15,000	 	 	$	0.14	 
	Warrants	 	Thomas K. Ireland Revocable Trust	 	7/22/2013	 	7/22/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Thomas K. Ireland Revocable Trust	 	7/22/2013	 	7/22/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Thomas K. Ireland Revocable Trust	 	7/22/2013	 	7/22/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Thomas K. Ireland Revocable Trust	 	7/22/2013	 	7/22/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Thomas K. Ireland Revocable Trust	 	7/22/2013	 	7/22/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Mel Harris Declaration of Trust	 	7/30/2013	 	7/30/2018	 	 	500,000	 	 	$	0.25	 
	Warrants	 	Chris Burns	 	8/7/2013	 	8/7/2018	 	 	35,000	 	 	$	0.25	 
	Warrants	 	Ark Interests LLC	 	8/22/2013	 	8/22/2018	 	 	150,000	 	 	$	0.25	 
	Warrants	 	Segal Family Trust	 	8/22/2013	 	8/22/2018	 	 	150,000	 	 	$	0.25	 
	Warrants	 	Whitman Family Trust	 	8/22/2013	 	8/22/2018	 	 	150,000	 	 	$	0.25	 
	Warrants	 	Todd J. Phillips Living Trust	 	8/27/2013	 	8/27/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Kohan 2001 Trust	 	8/28/2013	 	8/28/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Edward Stone	 	8/29/2013	 	2/26/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Gilbert Insurance Services, Inc 401K Profit Sharing Plan	 	9/3/2013	 	9/3/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Segal Family Trust	 	9/3/2013	 	9/3/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Scott S. Rosenblum	 	9/4/2013	 	12/19/2017	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Patty & Ed Goren	 	9/12/2013	 	9/12/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Schreier Family Trust	 	9/16/2013	 	9/16/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Weil Living Trust	 	9/17/2013	 	9/17/2018	 	 	50,000	 	 	$	0.25	 



 



     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


	Warrants	 	Michael D. Karlin Revocable Trust	 	10/4/2013	 	10/4/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Ackerman Family Trust	 	10/9/2013	 	10/9/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Lloyd Moriber	 	10/11/2013	 	10/11/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Matthew Schwartz	 	10/14/2013	 	10/14/2018	 	 	100,000	 	 	$	0.16	 
	Warrants	 	Grandparents Capital LLC	 	10/21/2013	 	10/21/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Mel Harris Declaration of Trust	 	10/21/2013	 	10/21/2018	 	 	500,000	 	 	$	0.25	 
	Warrants	 	Nigel Norton	 	11/11/2013	 	11/11/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Irwin Nachimson	 	11/14/2013	 	11/14/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Dennis Martin	 	12/12/2013	 	12/12/2018	 	 	15,000	 	 	$	0.25	 
	Warrants	 	Derek Bronston	 	12/12/2013	 	12/12/2018	 	 	15,000	 	 	$	0.25	 
	Warrants	 	Sean Mosher-Smith	 	12/12/2013	 	12/12/2018	 	 	15,000	 	 	$	0.25	 
	Warrants	 	Scott S. Rosenblum	 	12/13/2013	 	12/13/2018	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Lloyd Moriber	 	12/18/2013	 	12/18/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Gerald Robins	 	12/23/2013	 	12/23/2018	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Arnold Lieber	 	1/13/2014	 	1/13/2019	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Mel Harris Declaration of Trust	 	1/13/2014	 	1/13/2019	 	 	300,000	 	 	$	0.25	 
	Warrants	 	Howard Michaels	 	2/14/2014	 	2/14/2019	 	 	300,000	 	 	$	0.25	 
	Warrants	 	Kathryn Ann Chesler Revocable Trust	 	2/19/2014	 	2/19/2019	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Rudi Tanzi	 	2/19/2014	 	2/19/2019	 	 	160,000	 	 	$	0.25	 
	Warrants	 	Ira Elegant	 	2/27/2014	 	2/27/2019	 	 	25,000	 	 	$	0.25	 
	Warrants	 	Richard Friedman	 	3/10/2014	 	3/10/2019	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Michael Holtz	 	3/12/2014	 	3/12/2019	 	 	150,000	 	 	$	0.25	 
	Warrants	 	Michael L. Landa Intervivos Revocable Trust (dtd 10/13/1998 Michael L. Landa as Trustee)	 	3/12/2014	 	3/12/2019	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Stanley Zaslow	 	3/12/2014	 	3/12/2019	 	 	100,000	 	 	$	0.25	 
	Warrants	 	F&MWL Enterprises, LLC (M.Walter Levine)	 	3/13/2014	 	3/13/2019	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Marvin Rosen	 	3/13/2014	 	3/13/2019	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Thomas Kaplan	 	3/13/2014	 	3/13/2019	 	 	10,000	 	 	$	0.25	 
	Warrants	 	Matthew Schwartz	 	3/15/2014	 	3/15/2019	 	 	300,000	 	 	$	0.31	 
	Warrants	 	Arthur Goldberg	 	3/16/2014	 	3/16/2019	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Jay Zises	 	3/17/2014	 	3/17/2019	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Avi Mirman	 	3/20/2014	 	2/23/2017	 	 	1,886,805	 	 	$	0.23	 
	Warrants	 	G Tyler Rennels	 	3/20/2014	 	2/23/2017	 	 	250,000	 	 	$	0.23	 
	Warrants	 	Karen Kang Ting	 	3/20/2014	 	2/23/2017	 	 	50,000	 	 	$	0.23	 
	Warrants	 	The Archer Financial Group Inc., 401K Plan	 	4/1/2014	 	4/1/2019	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Irving Lee Zackheim	 	4/7/2014	 	4/7/2019	 	 	250,000	 	 	$	0.25	 
	Warrants	 	Robert Frome	 	4/7/2014	 	4/7/2019	 	 	50,000	 	 	$	0.25	 
	Warrants	 	Mel Harris Declaration of Trust	 	4/9/2014	 	4/9/2019	 	 	300,000	 	 	$	0.25	 
	Warrants	 	Benjamin Milbrath	 	5/28/2014	 	5/28/2019	 	 	200,000	 	 	$	0.25	 
	Warrants	 	D.A. Davidson & Co, Custodian FBO Benjamin Milbrath ROTH IRA	 	6/6/2014	 	6/6/2019	 	 	200,000	 	 	$	0.25	 



 


 






     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


	Warrants	 	Alan Stewart Harris	 	6/10/2014	 	6/10/2019	 	 	100,000	 	 	$	0.25	 
	Warrants	 	Mel Harris Declaration of Trust	 	6/10/2014	 	6/10/2019	 	 	100,000	 	 	$	0.25	 
	Warrants	 	CV Starr & Company Inc	 	6/16/2014	 	6/16/2019	 	 	1,000,000	 	 	$	0.25	 
	Warrants	 	Mel Harris Declaration of Trust	 	6/20/2014	 	6/20/2019	 	 	500,000	 	 	$	0.25	 
	Warrants	 	Joseph Bernstein	 	6/26/2014	 	6/26/2019	 	 	275,000	 	 	$	0.25	 
	Warrants	 	Jamie Jo Harris (Assigned Feb’15)	 	7/1/2014	 	7/1/2019	 	 	1,000,000	 	 	$	0.34	 
	Warrants	 	Jane Seymour	 	7/1/2014	 	7/1/2019	 	 	250,000	 	 	$	0.34	 
	Warrants	 	Jane Seymour	 	7/1/2014	 	7/1/2019	 	 	250,000	 	 	$	0.45	 
	Warrants	 	Jane Seymour	 	7/1/2014	 	7/1/2019	 	 	250,000	 	 	$	0.50	 
	Warrants	 	Jane Seymour	 	7/1/2014	 	7/1/2019	 	 	250,000	 	 	$	0.50	 
	Warrants	 	Mel Harris Declaration of Trust	 	7/1/2014	 	7/1/2019	 	 	1,000,000	 	 	$	0.34	 
	Warrants	 	Mel Harris Declaration of Trust	 	7/1/2014	 	7/1/2019	 	 	1,000,000	 	 	$	0.34	 
	Warrants	 	Mel Harris Declaration of Trust	 	7/1/2014	 	7/1/2019	 	 	1,000,000	 	 	$	0.34	 
	Warrants	 	Mel Harris Declaration of Trust	 	7/1/2014	 	7/1/2019	 	 	1,000,000	 	 	$	0.34	 
	Warrants	 	Nancy Ryan	 	7/1/2014	 	7/1/2019	 	 	50,000	 	 	$	0.34	 
	Warrants	 	James C. and Sandra K. Peterson	 	7/7/2014	 	7/7/2019	 	 	300,000	 	 	$	0.25	 
	Warrants	 	Cary Presant	 	7/16/2014	 	7/16/2019	 	 	100,000	 	 	$	0.44	 
	Warrants	 	James C. and Sandra K. Peterson	 	8/1/2014	 	8/1/2019	 	 	250,000	 	 	$	0.35	 
	Warrants	 	George Cain	 	8/5/2014	 	8/5/2019	 	 	100,000	 	 	$	0.35	 
	Warrants	 	Irving Lee Zackheim	 	8/5/2014	 	8/5/2019	 	 	500,000	 	 	$	0.35	 
	Warrants	 	Michelle Jou	 	8/5/2014	 	8/5/2019	 	 	200,000	 	 	$	0.35	 
	Warrants	 	Marian Stier	 	8/8/2014	 	8/8/2019	 	 	12,500	 	 	$	0.40	 
	Warrants	 	Gilbert Insurance Services, Inc 401K Profit Sharing Plan	 	8/11/2014	 	8/11/2019	 	 	100,000	 	 	$	0.40	 
	Warrants	 	D.A. Davidson & Co, Custodian FBO Benjamin Milbrath ROTH IRA	 	8/22/2014	 	8/22/2019	 	 	225,000	 	 	$	0.35	 
	Warrants	 	Eric Cremers	 	8/27/2014	 	8/27/2019	 	 	250,000	 	 	$	0.35	 
	Warrants	 	Marian Stier	 	9/8/2014	 	9/8/2019	 	 	12,500	 	 	$	0.40	 
	Warrants	 	Dave Angstadt	 	10/21/2014	 	10/21/2019	 	 	250,000	 	 	$	0.18	 
	Warrants	 	Laurie Meadoff	 	10/21/2014	 	10/21/2019	 	 	250,000	 	 	$	0.18	 
	Warrants	 	Marian Stier	 	10/21/2014	 	10/21/2019	 	 	100,000	 	 	$	0.18	 
	Warrants	 	Michael Fichtel (via KGW,LLC)	 	10/21/2014	 	10/21/2019	 	 	50,000	 	 	$	0.35	 
	Warrants	 	Michael Wellesley-Wesley	 	10/21/2014	 	10/21/2019	 	 	100,000	 	 	$	0.35	 
	Warrants	 	Mintz Levin, Cohn, Ferris, Glovsky and Popeo, P.C.	 	10/21/2014	 	10/21/2019	 	 	100,000	 	 	$	0.18	 
	Warrants	 	SQP Ltd.	 	10/21/2014	 	10/21/2019	 	 	250,000	 	 	$	0.35	 
	Warrants	 	Jim Erlick	 	10/29/2014	 	10/29/2019	 	 	8,334	 	 	$	0.30	 
	Warrants	 	Jim Erlick	 	10/29/2014	 	10/29/2019	 	 	7,576	 	 	$	0.33	 



 


 






     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission. 


 


	Warrants	 	Starr Insurance Holdings, Inc	 	11/7/2014	 	4/11/2018	 	 	10,719,477	 	 	$	0.05	 
	Warrants	 	Starr Insurance Holdings, Inc	 	11/7/2014	 	4/11/2018	 	 	10,719,477	 	 	$	0.05	 
	Warrants	 	Thomas Butler	 	11/12/2014	 	11/12/2019	 	 	10,000	 	 	$	0.20	 
	Warrants	 	Jonathan Reinsdorf	 	12/17/2014	 	11/12/2019	 	 	100,000	 	 	$	0.35	 
	Warrants	 	Milbrath	 	1/9/2015	 	1/9/2020	 	 	200,000	 	 	$	0.35	 
	Warrants	 	Millenium Trust for the Benefit of Seymour Tessler	 	1/14/2015	 	1/14/2020	 	 	100,000	 	 	$	0.35	 
	Warrants	 	Millenium Trust for the Benefit of Andrea Tessler	 	1/23/2015	 	1/23/2020	 	 	50,000	 	 	$	0.35	 
	Warrants	 	James C. and Sandra K. Peterson	 	2/25/2015	 	2/25/2020	 	 	150,000	 	 	$	0.35	 
	Warrants	 	David Moore	 	3/11/2015	 	3/11/2020	 	 	200,000	 	 	$	0.25	 
	Warrants	 	VB Funding, LLC	 	5/18/2015	 	5/18/2025	 	 	500,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Aurora Frid	 	2/24/2012	 	2/24/2022	 	 	5,000	 	 	$	0.60	 
	2012 GP Plan Options	 	Caitlin Janovic	 	2/24/2012	 	2/24/2022	 	 	25,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Clare Davis	 	2/24/2012	 	2/24/2022	 	 	50,000	 	 	$	0.25	 
	2012 GP Plan Options	 	David Kikumoto	 	2/24/2012	 	2/24/2022	 	 	50,000	 	 	$	0.60	 
	2012 GP Plan Options	 	Deborah Burns	 	2/24/2012	 	2/24/2022	 	 	120,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Deborah Long	 	2/24/2012	 	2/24/2022	 	 	50,000	 	 	$	0.60	 
	2012 GP Plan Options	 	James Meiskin	 	2/24/2012	 	2/24/2022	 	 	50,000	 	 	$	0.60	 
	2012 GP Plan Options	 	Jeffrey Mahl	 	2/24/2012	 	2/24/2022	 	 	250,000	 	 	$	0.60	 
	2012 GP Plan Options	 	Jeffrey Wasserman	 	2/24/2012	 	2/24/2022	 	 	150,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Jennifer Fragale	 	2/24/2012	 	2/24/2022	 	 	75,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Jeremy Office	 	2/24/2012	 	2/24/2022	 	 	250,000	 	 	$	0.25	 
	2012 GP Plan Options	 	John Connolly	 	2/24/2012	 	2/24/2022	 	 	50,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Jordan Leber	 	2/24/2012	 	2/24/2022	 	 	250,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Joseph Bernstein	 	2/24/2012	 	2/24/2022	 	 	1,000,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Kristen Sturt	 	2/24/2012	 	2/24/2022	 	 	50,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Laurie Meadoff	 	2/24/2012	 	2/24/2022	 	 	250,000	 	 	$	0.33	 
	2012 GP Plan Options	 	Leon Bernstein	 	2/24/2012	 	2/24/2022	 	 	50,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Marion Owens	 	2/24/2012	 	2/24/2022	 	 	10,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Matthew Schwartz	 	2/24/2012	 	2/24/2022	 	 	200,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Paul Millar	 	2/24/2012	 	2/24/2022	 	 	50,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Robert Cohen	 	2/24/2012	 	2/24/2022	 	 	1,000,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Shannon Copfer	 	2/24/2012	 	2/24/2022	 	 	75,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Steve Leber	 	2/24/2012	 	2/24/2022	 	 	1,000,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Richard Kahn	 	2/27/2012	 	2/27/2022	 	 	30,000	 	 	$	0.63	 
	2012 GP Plan Options	 	Sara Breslau	 	4/3/2012	 	4/3/2022	 	 	250,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Gretchen Schmoker	 	5/3/2012	 	5/3/2022	 	 	10,000	 	 	$	0.50	 
	2012 GP Plan Options	 	LaToya Monah	 	5/3/2012	 	5/3/2022	 	 	10,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Yitzchok Frid	 	5/3/2012	 	5/3/2022	 	 	10,000	 	 	$	0.50	 
	2012 GP Plan Options	 	Sara Schwartz	 	5/7/2012	 	5/7/2022	 	 	25,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Lee Lazarus	 	5/30/2012	 	5/30/2022	 	 	100,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Mel Harris	 	5/30/2012	 	5/30/2022	 	 	500,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Bruce Glatman	 	9/13/2012	 	9/13/2022	 	 	5,000	 	 	$	0.40	 
	2012 GP Plan Options	 	Bruce Glatman	 	9/13/2012	 	9/13/2022	 	 	12,500	 	 	$	0.40	 



 



     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


	2012 GP Plan Options	 	Deborah Burns	 	9/13/2012	 	9/13/2022	 	 	50,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Dennis Martin	 	9/13/2012	 	9/13/2022	 	 	20,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Derek Bronston	 	9/13/2012	 	9/13/2022	 	 	20,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Ellen Breslau	 	9/13/2012	 	9/13/2022	 	 	50,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Larry King	 	9/13/2012	 	9/13/2022	 	 	100,000	 	 	$	0.40	 
	2012 GP Plan Options	 	Larry King	 	9/13/2012	 	9/13/2022	 	 	250,000	 	 	$	0.40	 
	2012 GP Plan Options	 	Matthew Schwartz	 	9/13/2012	 	9/13/2022	 	 	25,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Raphael Bernstein	 	9/13/2012	 	9/13/2022	 	 	10,000	 	 	$	0.60	 
	2012 GP Plan Options	 	Sean Mosher-Smith	 	9/13/2012	 	9/13/2022	 	 	20,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Sid Young	 	9/13/2012	 	9/13/2022	 	 	5,000	 	 	$	0.40	 
	2012 GP Plan Options	 	Sid Young	 	9/13/2012	 	9/13/2022	 	 	12,500	 	 	$	0.40	 
	2012 GP Plan Options	 	Thomas Corry	 	9/13/2012	 	9/13/2022	 	 	50,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Aurora Frid	 	12/19/2012	 	12/19/2022	 	 	12,500	 	 	$	0.30	 
	2012 GP Plan Options	 	Caitlin Janovic	 	12/19/2012	 	12/19/2022	 	 	12,500	 	 	$	0.30	 
	2012 GP Plan Options	 	Clare Davis	 	12/19/2012	 	12/19/2022	 	 	7,500	 	 	$	0.30	 
	2012 GP Plan Options	 	Deborah Burns	 	12/19/2012	 	12/19/2022	 	 	100,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Deborah Long	 	12/19/2012	 	12/19/2022	 	 	15,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Ellen Breslau	 	12/19/2012	 	12/19/2022	 	 	100,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Gretchen Schmoker	 	12/19/2012	 	12/19/2022	 	 	12,500	 	 	$	0.30	 
	2012 GP Plan Options	 	Jeffrey Mahl	 	12/19/2012	 	12/19/2022	 	 	50,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Jennifer Fragale	 	12/19/2012	 	12/19/2022	 	 	15,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Jordan Leber	 	12/19/2012	 	12/19/2022	 	 	25,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Kristen Sturt	 	12/19/2012	 	12/19/2022	 	 	15,000	 	 	$	0.30	 
	2012 GP Plan Options	 	LaToya Monah	 	12/19/2012	 	12/19/2022	 	 	25,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Leon Bernstein	 	12/19/2012	 	12/19/2022	 	 	12,500	 	 	$	0.30	 
	2012 GP Plan Options	 	Marion Owens	 	12/19/2012	 	12/19/2022	 	 	2,500	 	 	$	0.30	 
	2012 GP Plan Options	 	Matthew Schwartz	 	12/19/2012	 	12/19/2022	 	 	25,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Paul Millar	 	12/19/2012	 	12/19/2022	 	 	15,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Raphael Bernstein	 	12/19/2012	 	12/19/2022	 	 	12,500	 	 	$	0.30	 
	2012 GP Plan Options	 	Sara Schwartz	 	12/19/2012	 	12/19/2022	 	 	15,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Shannon Copfer	 	12/19/2012	 	12/19/2022	 	 	15,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Yitzchok Frid	 	12/19/2012	 	12/19/2022	 	 	12,500	 	 	$	0.30	 
	2012 GP Plan Options	 	Deborah Burns	 	6/20/2013	 	6/20/2023	 	 	500,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Ellen Breslau	 	6/20/2013	 	6/20/2023	 	 	500,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Lori Fagien	 	6/20/2013	 	6/20/2023	 	 	10,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Marian Heard	 	6/20/2013	 	6/20/2023	 	 	50,000	 	 	$	0.14	 
	2012 GP Plan Options	 	Matthew Schwartz	 	6/20/2013	 	6/20/2023	 	 	200,000	 	 	$	0.25	 
	2012 GP Plan Options	 	Lee Lazarus	 	12/9/2013	 	12/9/2023	 	 	750,000	 	 	$	0.13	 
	Non-Plan Options	 	Lee Lazarus	 	12/9/2013	 	12/9/2023	 	 	3,250,000	 	 	$	0.13	 
	2012 GP Plan Options	 	Brittany Hutzel	 	3/14/2014	 	3/14/2024	 	 	15,000	 	 	$	0.31	 
	2012 GP Plan Options	 	Clare Davis	 	3/14/2014	 	3/14/2024	 	 	15,000	 	 	$	0.31	 
	2012 GP Plan Options	 	Kristen Sturt	 	3/14/2014	 	3/14/2024	 	 	40,000	 	 	$	0.31	 
	2012 GP Plan Options	 	Latoya Monah	 	3/14/2014	 	3/14/2024	 	 	30,000	 	 	$	0.31	 
	2012 GP Plan Options	 	Paul Millar	 	3/14/2014	 	3/14/2024	 	 	25,000	 	 	$	0.31	 
	2012 GP Plan Options	 	Sara Schwartz	 	3/14/2014	 	3/14/2024	 	 	40,000	 	 	$	0.31	 



 



     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


	2012 GP Plan Options	 	Nancy Diamond	 	5/7/2014	 	5/7/2016	 	 	60,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Siary Nunez	 	6/2/2014	 	6/2/2024	 	 	25,000	 	 	$	0.30	 
	2012 GP Plan Options	 	Deborah Burns	 	7/1/2014	 	7/1/2019	 	 	250,000	 	 	$	0.34	 
	2012 GP Plan Options	 	Ellen Breslau	 	7/1/2014	 	7/1/2019	 	 	250,000	 	 	$	0.34	 
	2012 GP Plan Options	 	Riaz Latifullah	 	7/1/2014	 	7/1/2019	 	 	5,000,000	 	 	$	0.34	 
	2012 GP Plan Options	 	Steve Leber	 	7/1/2014	 	7/1/2024	 	 	5,000,000	 	 	$	0.34	 
	2012 GP Plan Options	 	Matthew Schwartz	 	10/9/2014	 	10/9/2024	 	 	1,000,000	 	 	$	0.28	 
	2012 GP Plan Options	 	Ann Abernathy	 	10/21/2014	 	10/21/2019	 	 	100,000	 	 	$	0.18	 
	2012 GP Plan Options	 	David Simon	 	4/9/2015	 	4/9/2020	 	 	250,000	 	 	$	0.21	 
	2012 GP Plan Options	 	Michael Troughton	 	4/9/2015	 	4/9/2025	 	 	200,000	 	 	$	0.21	 
	2012 GP Plan Options	 	Not Yet Issued	 	 	 	 	 	 	3,415,000	 	 	 	 	 
	 	 	 	 	 	 	Total	 	 	87,324,323	 	 	 	 	 



  


Schedule 3.9 – List of Litigation
and Other actions


 


Not applicable







 


Schedule 3.11(b) – List of Liens


 


Not applicable


  


Schedule 3.11(d)(i) – List of
Leased Real Property


 


We lease approximately 5,000 square feet in our headquarters
located at 589 Eighth Avenue, 6th Floor, New York, NY 10018. The lease expires on September 30, 2015. Our current monthly rent
payment under the lease is approximately $15,000 per month. We are working with the landlord on a possible renewal.


 


We also lease a corporate apartment for $3,700/mo on 42nd
street for our Chief Financial Officer (per his Employment Agreement). The Lease expires this month and we are exploring
other less expensive alternatives or possibly doing away with it altogether.


  


Schedule 3.12 - Environmental Claims


 


Not Applicable


  


Schedule 3.15(a) – List of Subsidiaries


 


American Grandparents Association LLC (Active in Florida)


Grandparents Insurance Solutions LLC (Active in Florida)


Grand Card LLC (Active in Florida)


Grand Corp LLC (Active in Florida)


Grand Inspirations LLC (Inactive-Administratively dissolved)







 




     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


Schedule 3.15(b) – List of non-Subsidiary
Equity Investments


 


Not applicable


  




     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


Schedule 3.19(a) – List of Intellectual
Property


 


	TRADEMARKS	 	Appl. No./

Reg No	 	Appl. Date/

Reg Date	 	Attorney of Record	 	Status
	GRANDEST ADVENTURES	 	3594674	 	3/24/2009	 	Sills Cummis & Gross (as of 1/18/12)	 	Registered
	*GRANDPARENTS.COM (Class 025)	 	3637229	 	6/16/2009	 	Joshua M. Gerben (as of 10/9/13) (changed from Sills Cummis & Gross)	 	Registered
	*GRANDPARENTS.COM (Classes 035, 038, 039, 041)	 	3503215	 	9/16/2008	 	Joshua M. Gerben (as of 10/9/13) (changed from Sills Cummis & Gross)	 	Registered
	*GRANDPARENTS.COM IT’S GREAT TO BE GRAND. & Design	 	3775059	 	4/13/2010	 	Joshua M. Gerben (as of 10/9/13) (changed from Sills Cummis & Gross)	 	Registered
	AMERICAN GRANDPARENTS ASSOCIATION	 	86653285	 	6/5/2015	 	Joshua M. Gerben (as of 6/8/15)	 	Submitted
	AGA (Standard Mark)	 	86653373	 	6/5/2015	 	Joshua M. Gerben (as of 6/8/15)	 	Submitted
	AGA American Grandparents Association (styalized w/ design)	 	86653028	 	6/5/2015	 	Joshua M. Gerben (as of 6/8/15)	 	Submitted
	GRANDPARENTS INSURANCE PLANS	 	4200271	 	8/28/2012	 	Sills Cummis & Gross (as of 1/18/12)	 	Registered
	*GRAND CARD	 	85/615047	 	5/2/2012	 	Sills Cummis & Gross (as of the time of filing)	 	Published Statement of Use/4th Extension of Time due December 4, 2014
	GRAND INSPIRATIONS	 	85/591533	 	4/6/2012	 	Sills Cummis & Gross (as of the time of filing)	 	Published Statement of Use/3rd Extension of Time due August 26, 2014
	GRAND CORPS	 	4506322	 	4/1/2014	 	Sills Cummis & Gross (as of the time of filing)	 	Registered
	TIMELESS YOU	 	86/122,123	 	11/18/2013	 	Sills Cummis & Gross (as of the time of filing)	 	Pending


 


*Subject to licensing in accordance with that certain Alliance
Agreement, among Cegedim Inc. (Opus Health Division) and Grandparents.com, Inc., dated as of March 28, 2013.


 


	PATENTS	 	Appl. No./Reg No	 	Appl. Date/Reg

Date	 	Attorney of Record

Status	 	Status
	SYSTEM AND METHOD FOR INCENTIVIZING PURCHASES**	 	61/693992	 	08/28/2012	 	N/A	 	Provisional


 


**Patents referenced in that certain Alliance Agreement, among
Cegedim Inc. (Opus Health Division) and Grandparents.com, Inc., dated as of March 28, 2013, including but not limited to provisional
patent 61/693992 (System and method for incentivizing purchases), are jointly held by Grand Card and Cegedim Inc. and not exclusive
property of any Loan Party.


 


Schedule 3.19(b) – List of Permits


 


Not applicable







 




     


     


    

 


Pursuant to 17 CFR 240.24b-2, confidential
information has been omitted in places marked


“[***]” and has been filed separately
with the Securities and Exchange Commission


pursuant to a Confidential Treatment Application
filed with the Commission.



 


Schedule 3.25 – List of Bank
Accounts


 


	 	 	JPMORGAN CHASE BANK ACCOUNTS	 	 	 	 
	 	 	Company Accounts	 	Purpose	 	Acount #
	1	 	Grandparents.com, Inc.	 	Day to Day Operating account	 	******
	2	 	Grand Card LLC	 	Grand Card program	 	******
	3	 	American Grandparents Association LLC	 	AGA Membership Revenue	 	******
	4	 	Grandparents Insurance Solutions LLC	 	Insurance Royalty revenue	 	******


  


Schedule 3.27 -Material Contracts


 


		1)	Letter Agreement by and between HSNi, LLC and Grandparents.com, Inc., dated as of February 18, 2015.



 


		2)	Program Agreement by and between Aetna Life Insurance Company and Grandparents.com, Inc., dated as of October 9, 2013, as amended
by that certain Amendment No. 1 to Program Agreement, dated as of June 4, 2015, and as frther amended by that certain Amendment
No. 2 to Program Agreement, dated as of June 4, 2015.



 


		3)	Upline Marketing Agreement by and between Aetna Life Insurance Company and Grandparents Insurance Solutions LLC, dated as of
2015.



 


		4)	Marketing General Agent Contract, by and among Aetna Health and Life Insurance Company, Aetna Life Insurance Company, and Grandparents
Insurance Solutions LLC, dated as of October 31, 2014.



 


		5)	Marketing General Agent Contract (Addendum), by and among Aetna Health and Life Insurance Company, Aetna Life Insurance Company,
and Grandparents Insurance Solutions LLC, dated as of October 31, 2014.



 


Schedule 4.2 - Promissory Notes to
be Repaid with Loan Proceeds


 


	Date	 	Unsecured Note Holder	 	Maturity	 	Principle
 Balance as of
 3-31-14	 	 	Int. Rate	 	 	Outstanding
 Principal &
 Cummulative
 Interest @
 6/30/15	 
	2/26/2013	 	Steve Leber	 	6/30/2015	 	$	100,000	 	 	 	10	%	 	$	123,342	 
	2/26/2013	 	Mel Harris	 	6/30/2015	 	$	100,000	 	 	 	10	%	 	$	123,342	 
	2/26/2013	 	Meadows Capital LLC	 	6/30/2015	 	$	100,000	 	 	 	10	%	 	$	123,342	 
	2/5/2015	 	Lee Lazarus	 	Demand	 	$	50,000	 	 	 	10	%	 	$	51,986	 
	2/5/2015	 	Steve Leber	 	Demand	 	$	50,000	 	 	 	10	%	 	$	51,986	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	$	474,000