Document:

Exhibit 10.08

 

LOAN
AND SECURITY AGREEMENT 

 

THIS LOAN AND SECURITY AGREEMENT is made
and dated as of March 9, 2018 and is entered into by and between FULL SPECTRUM, INC., a Delaware corporation, and each of its Domestic
Subsidiaries signatory hereto or hereinafter a party hereto by joinder (hereinafter collectively referred to as the “Borrower”),
and STEWARD CAPITAL HOLDINGS, LP, a Delaware limited partnership, and its successors and assigns (together with its successors
and assigns, hereinafter referred to as “Lender”)

 

RECITALS

 

A.            Borrower
has requested Lender to make available to Borrower a loan in an aggregate principal amount of up to Ten Million Dollars ($10,000,000.00)
(the “Loan”); and

 

B.            Lender
is willing to make the Loan on the terms and conditions set forth in this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, Borrower and Lender agree
as follows:

 

SECTION
1. DEFINITIONS AND RULES OF CONSTRUCTION

 

1.1           Unless otherwise defined herein, the following capitalized terms shall have the following meanings:

 

“Account Control Agreement”
means any agreement entered into by and among the Lender, Borrower and a third party Bank or other institution (including a Securities
Intermediary) in which Borrower maintains a Deposit Account or an account holding Investment Property and which grants Lender a
perfected first priority security interest in the subject account or accounts.

 

“ACH Authorization” means
the ACH Debit Authorization Agreement in substantially the form of Exhibit H.

 

“Advance” means either
a Tranche A or Tranche B advance under Section 2.1 below.

 

“Advance Date” means
the funding date of any Advance.

 

“Advance Request” means
a request for an Advance submitted by Borrower to Lender in substantially the form of Exhibit A.

 

“Agreement” means this
Loan and Security Agreement, as amended, modified, supplemented or restated from time to time.

 

“Assignee” has the meaning
given to it in Section 10.13.

 

    

     

    

 

“Borrower Products” means
all products, software, service offerings, technical data or technology currently being designed, manufactured or sold by Borrower
or which Borrower intends to sell, license, or distribute in the future including any products or service offerings under development,
collectively, together with all products, software, service offerings, technical data or technology that have been sold, licensed
or distributed by Borrower since its incorporation.

 

“Business Day” means
any day other than Saturday, Sunday and any other day on which banking institutions in the State of Missouri are closed for business.

 

“Cash” means all cash,
marketable securities, and other liquid funds (including, without limitation, those Permitted Investments set forth in clauses
(ii)(a)-(d) of the definition thereof).

 

“Change in Control” means
any (i) reorganization, recapitalization, consolidation or merger (or similar transaction or series of related transactions) of
Borrower or any Subsidiary, sale or exchange of outstanding shares (or similar transaction or series of related transactions) of
Borrower or any Subsidiary in which the holders of Borrower or Subsidiary’s outstanding shares immediately before consummation
of such transaction or series of related transactions (or their controlled affiliates) do not, immediately after consummation of
such transaction or series of related transactions, retain shares representing more than fifty percent (50%) of the voting power
of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity if such surviving
entity is wholly owned by such parent), in each case without regard to whether Borrower or Subsidiary is the surviving entity,
or (ii) sale or issuance by Borrower of new shares of Preferred Stock of Borrower to investors, none of whom are current investors
in Borrower, and such new shares of Preferred Stock are senior to all existing Preferred Stock and common stock with respect to
liquidation preferences, and the aggregate liquidation preference of the new shares of Preferred Stock is more than fifty percent
(50%) of the aggregate liquidation preference of all shares of Preferred Stock and common stock of Borrower; provided, however,
neither an Initial Public Offering, a Public Offering as defined in section 2.3 nor a Reverse Merger by Borrower shall constitute
a Change in Control. 

 

“Claims” has the meaning
given to it in Section 10.10.

 

“Closing Date” means
the date of this Agreement.

 

“Code” means the Internal
Revenue Code of 1986, and the regulations thereunder, in each case as amended from time to time.

 

“Collateral” has the
meaning given to it in Section 3.

 

“Commitment Fee” means
$25,000, which fee is due to Lender on or prior to the Closing Date, and shall be deemed fully earned on such date regardless of
the early termination of this Agreement.

 

“Confidential Information”
has the meaning given to it in Section 10.12.

 

    - 2 -

     

    

 

“Contingent Obligation”
means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to (i)
any Indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly
guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise
directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant
services issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity
swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to protect
a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent
Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any
Contingent Obligation shall be computed at the amount that meets the criteria for accrual under Statement of Financial Accounting
Standard No. 5.

 

“Copyright License” means
any written agreement granting any right to use any Copyright or Copyright registration, now owned or hereafter acquired by Borrower
or in which Borrower now holds or hereafter acquires any interest.

 

“Copyrights” means all
copyrights, whether registered or unregistered, held pursuant to the laws of the United States, any State thereof, or of any other
country.

 

“Default” means any event
or occurrence that, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

 

“Deposit Accounts” means
any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or
certificate of deposit.

 

“Domestic Subsidiary”
means any Subsidiary that is not a Foreign Subsidiary.

 

“End of Term Charge”
has the meaning given to it in Section 2.4.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder.

 

“Excluded
Taxes” means any of the following taxes imposed on or with respect to Lender or required to be withheld or deducted from
a payment to Lender, (a) taxes imposed on or measured by net income (however denominated), franchise taxes, and branch profits
taxes, in each case, (i) imposed as a result of Lender being organized under the laws of, or having its principal office or, in
the case of any Lender, its applicable lending office located in, the jurisdiction imposing such tax (or any political subdivision
thereof) or (ii) that are Other Connection Taxes, (b) in the case of Lender, U.S. federal withholding taxes imposed on amounts
payable to or for the account of such Lender with respect to an applicable interest in a Loan or Term Commitment (or otherwise
pursuant to any Loan Document) pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan
or commitment hereunder or becomes a party to this Agreement or (ii) Lender changes its lending office, except in each case of
(i) and (ii) above, to the extent that amounts with respect to such taxes were payable either to Lender’s assignor immediately
before Lender became a party hereto or to Lender immediately before it changed its lending office, (c) taxes attributable to Lender’s
failure to comply with Section 6.4, and (d) any U.S. federal withholding taxes imposed under FATCA.

 

    - 3 -

     

    

 

“Event of Default” has
the meaning given to it in Section 8.

 

“Facility Charge” means
$100,000, representing one percent (1%) of the Maximum Loan Amount. $50,000
being payable upon funding of the Tranche A Advance and $50,000 being payable upon funding of the Tranche B Advance.

 

“FATCA” means
Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version of such sections
that are substantively comparable and not materially more onerous to comply with) and any current or future regulations or official
interpretations thereof, and any agreements entered into pursuant to Section 1471(b)(1) of the Code.

 

“Financial Statements”
has the meaning given to it in Section 7.1.

 

“Foreign Subsidiary”
means any Subsidiary other than a Subsidiary organized under the laws of any state within the United States.

 

“GAAP” means generally
accepted accounting principles in the United States of America, as in effect from time to time.

 

“Indebtedness” means
indebtedness of any kind, including (a) all indebtedness for borrowed money (excluding trade credit entered into in the ordinary
course of business that are not more than sixty (60) days past due), including reimbursement and other obligations with respect
to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all
capital lease obligations, and (d) all Contingent Obligations. The accrued management compensation in the approximate amount of
Nine Hundred Thousand Dollars ($900,000.00) shall be excluded from the definition of Indebtedness under the terms of this Agreement;
however it shall still remain subordinate to this Loan Agreement and any proceeds from this Loan Agreement shall not be used to
repay said management compensation.

 

“Initial Public Offering”
means the initial firm commitment underwritten offering of Borrower’s common stock pursuant to a registration statement under
the Securities Act of 1933 filed with and declared effective by the Securities and Exchange Commission.

 

“Insolvency Proceeding”
is any proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or insolvency law,
including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking
reorganization, arrangement, or other similar relief.

 

“Intellectual Property”
means all of Borrower’s Copyrights; Trademarks; Patents; Licenses; trade secrets, software codes and inventions; mask works;
Borrower’s applications therefor and reissues, extensions, or renewals thereof; and Borrower’s goodwill associated
with any of the foregoing, together with Borrower’s rights to sue for past, present and future infringement of Intellectual
Property and the goodwill associated therewith.

 

    - 4 -

     

    

 

“Investment” means any
beneficial ownership (including stock, partnership or limited liability company interests) of or in any Person, or any loan, advance
or capital contribution to any Person or the acquisition of all, or substantially all, of the assets of another Person.

  

“Joinder Agreements”
means for each Subsidiary other than a Foreign Subsidiary, a completed and executed Joinder Agreement in substantially the form
attached hereto as Exhibit G.

 

“Lender” has the meaning
given to it in the preamble to this Agreement.

 

“License” means any Copyright
License, Patent License, Trademark License or other license of rights or interests.

 

“Lien” means any mortgage,
deed of trust, pledge, hypothecation, assignment for security, security interest, encumbrance, levy, lien or charge of any kind,
whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title
retention agreement, and any lease in the nature of a security interest.

 

“Loan” has the meaning
given such term in the Recitals.

 

“Loan Documents” means
this Agreement, the Note, the ACH Authorization, the Account Control Agreements, the Joinder Agreements (if any), , and any other
documents executed in connection with the Secured Obligations or the transactions contemplated hereby, as the same may from time
to time be amended, modified, supplemented or restated.

 

“Material Adverse Effect”
means a material adverse effect upon: (i) the business, operations, properties, assets or financial condition of Borrower
and its Subsidiaries taken as a whole; or (ii) the ability of Borrower to perform the Secured Obligations in accordance with
the terms of the Loan Documents, or the ability of Lender to enforce any of its material rights or remedies with respect to the
Secured Obligations; or (iii) any material portion of the Collateral or Lender’s Liens on such Collateral or the priority
of such Liens.

 

“Maturity Date” means
the earlier of September 9, 2019 or 10 business days following the date of a Public Offering as defined in Section 2.3.

 

“Maximum Loan Amount”
means Ten Million and No/100 Dollars ($10,000,000).

 

“Maximum Rate” shall
have the meaning assigned to such term in Section 2.1.

 

“New Financing” Borrower’s
closing of a private equity offering, Reverse Merger or other private equity or convertible preferred subordinated debt financing
that raises at least $10,000,000 on terms reasonably acceptable to Lender.

 

“Note” means a Secured
Term Promissory Note made by Borrower in favor of Lender in the form attached hereto as Exhibit B.

 

    - 5 -

     

    

 

“Other Connection Taxes”
means, with respect to Lender, taxes imposed as a result of a present or former connection between Lender and the jurisdiction
imposing such tax (other than connections arising from Lender having executed, delivered, become a party to, performed its obligations
under, received payments under, received or perfected a Lien under, engaged in any other transaction pursuant to or enforced any
Loan Document, or sold or assigned an interest in any Loan or Loan Document).

 

“Patent License” means
any written agreement granting any right with respect to any invention on which a Patent is in existence or a Patent application
is pending, in which agreement Borrower now holds or hereafter acquires any interest.

 

“Patents” means all letters
patent of, or rights corresponding thereto, in the United States or in any other country, all registrations and recordings thereof,
and all applications for letters patent of, or rights corresponding thereto, in the United States or any other country.

 

“Permitted Indebtedness”
means: (i) Indebtedness of Borrower in favor of Lender arising under this Agreement or any other Loan Document; (ii) Indebtedness
existing on the Closing Date which is disclosed in Schedule 1A; (iii) Indebtedness of up to $250,000 outstanding at any time secured
by a Lien described in clause (vii) of the defined term “Permitted Liens,” provided such Indebtedness does not exceed
the lesser of the cost or fair market value of the Equipment financed with such Indebtedness; (iv) Indebtedness to trade creditors
incurred in the ordinary course of business, including Indebtedness incurred in the ordinary course of business with corporate
credit cards; (v) Indebtedness that also constitutes a Permitted Investment; (vi) Subordinated Indebtedness; (vii) reimbursement
obligations in connection with letters of credit that are secured by cash or cash equivalents and issued on behalf of the Borrower
or a Subsidiary thereof in an amount not to exceed $200,000 at any time outstanding, (viii) other Indebtedness in an amount not
to exceed $100,000 at any time outstanding, and (ix) extensions, refinancings and renewals of any items of Permitted Indebtedness,
provided that the principal amount is not increased or the terms modified to impose materially more burdensome terms upon Borrower
or its Subsidiary, as the case may be.

 

“Permitted Investment”
means: (i) Investments existing on the Closing Date which are disclosed in Schedule 1B; (ii) (a) marketable direct obligations
issued or unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year
from the date of acquisition thereof, (b) commercial paper maturing no more than one year from the date of creation thereof and
currently having a rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors
Service, (c) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one year from
the date of investment therein, and (d) money market accounts; (iii) repurchases of stock from former employees, directors, or
consultants of Borrower under the terms of applicable repurchase agreements at the original issuance price of such securities in
an aggregate amount not to exceed $250,000 in any fiscal year, provided that no Event of Default has occurred, is continuing or
would exist after giving effect to the repurchases; (iv) Investments accepted in connection with Permitted Transfers; (v) Investments
(including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement
of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of Borrower’s
business; (vi) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and
suppliers who are not affiliates, in the ordinary course of business, provided that this subparagraph (vi) shall not apply to Investments
of Borrower in any Subsidiary; (vii) Investments consisting of loans not involving the net transfer on a substantially contemporaneous
basis of cash proceeds to employees, officers or directors relating to the purchase of capital stock of Borrower pursuant to employee
stock purchase plans or other similar agreements approved by Borrower’s Board of Directors; (viii) Investments consisting
of travel advances in the ordinary course of business; (ix) Investments in Domestic Subsidiaries, provided that each such Domestic
Subsidiary enters into (or has previously entered into) a Joinder Agreement promptly after its formation by Borrower and execute
such other documents as shall be reasonably requested by Lender, and Investments by Domestic Subsidiaries in Borrower; (x) Investments
in Foreign Subsidiaries approved in advance in writing by Lender; (xi) joint ventures or strategic alliances in the ordinary course
of Borrower’s business consisting of the nonexclusive licensing of technology, the development of technology or the providing
of technical support, provided that any cash Investments by Borrower do not exceed $250,000 in the aggregate in any fiscal year;;
(xii) additional Investments that do not exceed $250,000 in the aggregate; and (xiii) Investment in an office in the Country of
China not to exceed $250,000.

 

    - 6 -

     

    

 

“Permitted Liens” means
any and all of the following: (i) Liens in favor of Lender; (ii) Liens existing on the Closing Date which are disclosed in Schedule
1C; (iii) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested
in good faith by appropriate proceedings; provided, that Borrower maintains adequate reserves therefor in accordance with GAAP;
(iv) Liens securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other like
Persons arising in the ordinary course of Borrower’s business and imposed without action of such parties; provided, that
the payment thereof is not yet required; (v) Liens arising from judgments, decrees or attachments in circumstances which do
not constitute an Event of Default hereunder; (vi) the following deposits, to the extent made in the ordinary course of business:
deposits under worker’s compensation, unemployment insurance, social security and other similar laws, or to secure the performance
of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure indemnity, performance or other similar
bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory
obligations (other than Liens arising under ERISA or environmental Liens) or surety or appeal bonds, or to secure indemnity, performance
or other similar bonds; (vii) Liens on Equipment or software or other intellectual property constituting purchase money Liens and
Liens in connection with capital leases securing Indebtedness permitted in clause (iii) of “Permitted Indebtedness”;
(viii) Liens incurred in connection with Subordinated Indebtedness; (ix) leasehold interests in leases or subleases and licenses
granted in the ordinary course of business and not interfering in any material respect with the business of the licensor; (x) Liens
in favor of customs and revenue authorities arising as a matter of law to secure payment of custom duties that are promptly paid
on or before the date they become due; (xi) Liens on insurance proceeds securing the payment of financed insurance premiums that
are promptly paid on or before the date they become due (provided that such Liens extend only to such insurance proceeds and not
to any other property or assets); (xii) statutory and common law rights of set-off and other similar rights as to deposits of cash
and securities in favor of banks, other depository institutions and brokerage firms; (xiii) easements, zoning restrictions, rights-of-way
and similar encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not materially
impair the value or marketability of the related property; (xiv) Liens on cash or cash equivalents securing obligations permitted
under clause (vii) of the definition of Permitted Indebtedness; (xv) additional Liens that do not exceed $100,000 in the aggregate;
and (xvi) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness secured by Liens of the type
described in clauses (i) through (xi) above; provided, that any extension, renewal or replacement Lien shall be limited to
the property encumbered by the existing Lien and the principal amount of the Indebtedness being extended, renewed or refinanced
(as may have been reduced by any payment thereon) does not increase.

 

    - 7 -

     

    

 

“Permitted Transfers”
means (i) sales of Inventory in the ordinary course of business, (ii) non-exclusive licenses and similar arrangements for the use
of Intellectual Property in the ordinary course of business and licenses that could not result in a legal transfer of title of
the licensed property but that may be exclusive, or (iii) dispositions of worn-out, obsolete or surplus property at fair market
value in the ordinary course of business, (iv) transactions permitted by Section 7.9 and (v) other Transfers of assets having
a fair market value of not more than $500,000 in the aggregate in any fiscal year.

 

“Person” means any individual,
sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation, limited liability
company, institution, other entity or government.

 

“Preferred Stock” means
at any given time any equity security issued by Borrower that has any rights, preferences or privileges senior to Borrower’s
common stock.

 

“Prime Rate” means the
Wall Street Journal (National Edition) Prime Rate.

 

“Reverse Merger” means
a transaction which results in the Company becoming a reporting company under the Securities
Exchange Act of 1934, such as a reverse merger, or the Company becoming a controlled subsidiary of a reporting company.

 

“Secured Obligations”
means Borrower’s obligations under this Agreement and any Loan Document, including any obligation to pay any amount now owing
or later arising.

 

“Subordinated Indebtedness”
means Indebtedness subordinated to the Secured Obligations in amounts and on terms and conditions satisfactory to Lender in its
reasonable discretion.

 

“Subsidiary” means an
entity, whether corporate, partnership, limited liability company, joint venture or otherwise, in which Borrower owns or controls
50% or more of the outstanding voting securities, including each entity listed on Schedule 1 hereto.

 

“Trademark License” means
any written agreement granting any right to use any Trademark or Trademark registration, now owned or hereafter acquired by Borrower
or in which Borrower now holds or hereafter acquires any interest.

 

“Trademarks” means all
trademarks (registered, common law or otherwise) and any applications in connection therewith, including registrations, recordings
and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any
State thereof or any other country or any political subdivision thereof.

 

    - 8 -

     

    

 

“Tranche A Loan Interest Rate”
means for any day a per annum rate of interest equal to the greater of (a) 11.25% or (b) 11.25% plus the Prime Rate, less 3.25%.

 

“Tranche B Loan Interest Rate”
means for any day a per annum rate of interest equal to the greater of (a) 11.25% or (b) 11.25% plus the Prime Rate, less 3.25%.

 

“UCC” means the Uniform
Commercial Code as the same is, from time to time, in effect in the State of Missouri; provided, that in the event that, by reason
of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Lender’s
Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time to time, in effect in a jurisdiction
other than the State of Missouri, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time
to time, in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority
or remedies and for purposes of definitions related to such provisions.

 

“Warrant” means any warrant
entered into in connection with the Loan, as may be amended, restated or modified from time to time.

 

Unless otherwise specified, all references
in this Agreement or any Annex or Schedule hereto to a “Section,” “subsection,” “Exhibit,”
“Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule
in or to this Agreement. Unless otherwise specifically provided herein, any accounting term used in this Agreement or the other
Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder
shall be computed in accordance with GAAP, consistently applied. Unless otherwise defined herein or in the other Loan Documents,
terms that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them in the UCC.
Notwithstanding anything contained herein to the contrary, any lease properly classified as an operating lease when entered into
shall continue to constitute an operating lease during the term of this Agreement regardless of any reclassification thereof as
a capital lease due to a change in treatment under GAAP.

 

SECTION
2. THE LOAN

 

2.1          Loan.

 

(a)          Advances. Subject to the terms and conditions of this Agreement, Lender will make an Advance of $5,000,000 (“Tranche
A”) on the Closing Date. Provided no Event of Default shall have occurred and is continuing, beginning on the date Borrower
closes the New Financing and continuing until December 31, 2018, Borrower may request an additional Advance of $5,000,000 (“Tranche
B”).

 

(b)          Advance Request. To obtain an Advance, Borrower shall complete, sign and deliver an Advance Request (at least five (5) Business
Days before the Advance Date) to Lender; provided that the Advance Request related to Tranche A on the Closing Date may be delivered
on the Advance Date related thereto. Lender shall fund the Advance in the manner requested by the Advance Request provided that
each of the conditions precedent to such Advance is satisfied as of the requested Advance Date.

 

    - 9 -

     

    

 

(c)          Interest. (i) The principal balance of the Tranche A Advance shall bear interest thereon from such Advance Date at the Tranche
A Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed;
and the principal balance of the Tranche B Advances shall bear interest thereon from each applicable Advance Date at the Tranche
B Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.
The Tranche A Loan Interest Rate and the Tranche B Loan Interest Rate will float and change on the day the Prime Rate changes from
time to time.

 

(d)          Payment. Borrower will pay interest only on the outstanding principal balance of the Loan on the first day of each month,
beginning April 1, 2018, until the Maturity Date. The entire Loan principal balance and all accrued but unpaid interest hereunder,
shall be due and payable on Maturity Date. Borrower shall make all payments under this Agreement without setoff, recoupment or
deduction and regardless of any counterclaim or defense. Lender will initiate debit entries to the Borrower’s account as
authorized on the ACH Authorization on each payment date of all periodic obligations payable to Lender under each Term Advance.

 

(e)          Maximum Interest. Notwithstanding any provision in this Agreement or any other Loan Document, it is the parties’ intent
not to contract for, charge or receive interest at a rate that is greater than the maximum rate permissible by law that a court
of competent jurisdiction shall deem applicable hereto (which under the laws of the State of Missouri shall be deemed to be the
laws relating to permissible rates of interest on commercial loans) (the “Maximum Rate”). If a court of competent
jurisdiction shall finally determine that Borrower has actually paid to Lender an amount of interest in excess of the amount that
would have been payable if all of the Secured Obligations had at all times borne interest at the Maximum Rate, then such excess
interest actually paid by Borrower shall be applied as follows: first, to the payment of the Secured Obligations consisting of
the outstanding principal; second, after all principal is repaid, to the payment of Lender’s accrued interest, costs, expenses,
professional fees and any other Secured Obligations; and third, after all Secured Obligations are repaid, the excess (if any) shall
be refunded to Borrower.

 

(f)           Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to two percent (2%)
of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of
Default hereunder, all Secured Obligations, including principal, interest, and compounded interest shall bear interest at a rate
per annum equal to the rate set forth in Section 2.1(c), plus two percent (2%) per annum. In the event any interest is not
paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the
rate set forth in Section 2.1(c) or Section 2.3, as applicable.

 

2.2          Prepayment. Borrower may prepay all, but not less than all, of the outstanding Advances by paying the entire principal
balance and all accrued and unpaid interest thereon subject to a prepayment fee to Lender. In the event, Borrower prepays the outstanding
amount of all principal and accrued and unpaid interest within the first twelve (12) months from the date of this Agreement, the
prepayment fee due to Lender shall be three percent (3%) of the principal amount being prepaid. In the event Borrower prepays the
outstanding amount of all principal and accrued and unpaid interest after the twelve (12) month period, the prepayment fee due
to Lender shall be one percent (1%) of the principal amount being prepaid. Borrower shall prepay the outstanding amount of all
principal and accrued and unpaid interest through the prepayment date upon the occurrence of a Change of Control. Notwithstanding
anything contained in the foregoing to the contrary, no prepayment fee shall be payable to Lender to the extent Lender acts as
agent, arranges or participates as a lender in any refinancing facility that repays the Secured Obligations.

 

    - 10 -

     

    

 

2.3          Public Offering. Upon Borrower completing a public offering in which Borrower or the entity with which it merged
realizes not less than $20M in gross cash proceeds from a capital raise effected in connection with the transaction, the Secured
Obligations become due and payable.

 

2.4          End of Term Charge. On the earliest to occur of (i) the Maturity Date, (ii) the date that Borrower prepays the outstanding
Secured Obligations, or (iii) the date that the Secured Obligations become due and payable, Borrower shall pay Lender a charge
of $250,000 representing two and one-half percent (2.5%) of the Maximum Loan Amount (the “End of Term Charge”).
Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date.

 

2.5          Note. The Loan shall be evidenced by the Note.

 

SECTION
3. SECURITY INTEREST

 

3.1          Grant
of Security Interest. The Borrower hereby pledges and grants to the Lender, and hereby creates a continuing first priority
Lien and security interest (subject to any Permitted Liens) in favor of the Lender in and to all of its right, title and interest
in and to the following, wherever located, whether now existing or hereafter from time to time arising or acquired (collectively,
the “Collateral”):

 

(a)          Any and all intellectual property of every kind and nature including all patents now owned and any patent now pending and
any other right Borrower has to any intellectual property.

 

(b)          all Fixtures and personal property of every kind and nature including all Accounts, Goods (including Inventory and Equipment),
Documents (including, if applicable, Electronic Documents), Instruments, Promissory Notes, Chattel Paper (whether Tangible or Electronic),
Letters of Credit, Letter-Of-Credit Rights (whether or not the Letter Of Credit is evidenced by a writing), Securities and all
other Investment Property, Commercial Tort Claims, General Intangibles (including all Payment Intangibles and all Intellectual
Property), Money, Deposit Accounts, and any other Contract Rights or rights to the payment of Money; and

 

(c)          all Proceeds and products of each of the foregoing, all books and records relating to the foregoing, all supporting obligations
related thereto, and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing,
and any and all Proceeds of any insurance, indemnity, warranty or guaranty payable to the Borrower from time to time with respect
to any of the foregoing.

 

    - 11 -

     

    

 

3.2          Notwithstanding the foregoing, Collateral shall exclude (a) any property of Borrower as to which Lender has determined in
its sole discretion that the collateral value is insufficient to justify the difficulty, time and/or expense of obtaining a perfected
security interest therein, (b) any lease, license, contract or agreement to which Borrower is a party, and any of its rights or
interests thereunder, if and to the extent that a security interest therein is prohibited by or in violation of (x) any applicable
law, or (y) a term, provision or condition of any such lease, license, contract or agreement (unless in each case, such applicable
law, term, provision or condition would be rendered ineffective with respect to the creation of such security interest pursuant
to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC of any relevant jurisdiction or any other applicable law or principles of equity),
provided, however, that the foregoing shall cease to be treated as excluded collateral (and shall constitute Collateral)
immediately at such time as the contractual or legal prohibition shall no longer be applicable and to the extent severable, such
security interest shall attach immediately to any portion of such lease, license, contract or agreement not subject to the prohibitions
specified in (x) or (y) above, (c) any “intent to use” trademark applications for which a statement of use has not
been filed (but only until such statement is filed), and (d) more than 65% of the presently existing and hereafter arising issued
and outstanding shares of capital stock owned by Borrower of any Foreign Subsidiary which shares entitle the holder thereof to
vote for directors or any other matter; provided, further that excluded Collateral shall not include any proceeds
of any excluded property or any goodwill of Borrower’s business associated therewith or attributable thereto.

 

SECTION
4. CONDITIONS PRECEDENT TO LOAN

 

The obligations of Lender to make the Loan
hereunder are subject to the satisfaction by Borrower of the following conditions:

 

4.1          Initial Advance. On or prior to the Closing Date, Borrower shall have delivered to Lender the following:

 

(a)          executed originals of the Loan Documents, Account Control Agreements, and all other documents and instruments reasonably
required by Lender to effectuate the transactions contemplated hereby or to create and perfect the Liens of Lender with respect
to all Collateral, in all cases in form and substance reasonably acceptable to Lender;

 

(b)          certified copy of resolutions of Borrower’s board of directors evidencing approval of (i) the Loan and other
transactions evidenced by the Loan Documents;

 

(c)          certified copies of the Certificate of Incorporation and the Bylaws, as amended through the Closing Date, of Borrower;

 

(d)          a certificate of good standing for Borrower from its state of incorporation and similar certificates from all other jurisdictions
in which it does business and where the failure to be qualified would have a Material Adverse Effect;

 

    - 12 -

     

    

 

(e)          payment of the Facility Charge, which may be deducted from the initial Advance;

 

(f)           reimbursement of Lender’s and Lender’s current reasonable and documented out of pocket expenses reimbursable
pursuant to this Agreement and in any event not more than the sum set forth in Section 10.11, which amounts may be deducted from
the initial Advance; and

 

(g)          such other documents as Lender may reasonably request.

 

4.2          All Advances. On each Advance Date:

 

(a)          Lender shall have received an Advance Request for the relevant Advance as required by 2.2(b), each duly executed by Borrower’s
Chief Executive Officer or Chief Financial Officer.

 

(b)          The representations and warranties set forth in this Agreement and in Section 5 shall be true and correct in
all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent
such representations and warranties expressly relate to an earlier date.

 

(c)          At
the time of and immediately after such Advance, no Default or Event of Default shall have occurred and be continuing.

 

(d)          Each Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance Date
as to the matters specified in paragraphs (b) and (c) of this Section 4.2 and as to the matters set forth in the
Advance Request.

 

4.3          No Material Adverse Effect. As of the Closing Date and each Advance Date, no event that has had a Material Adverse
Effect has occurred and is continuing, as determined by Lender in its sole discretion.

 

SECTION
5. REPRESENTATIONS AND WARRANTIES OF BORROWER

 

Each Borrower represents and warrants that:

 

5.1          Corporate Status. Each Borrower is a corporation duly organized, legally existing and in good standing under the
laws of the State of Delaware, and is duly qualified as a foreign corporation in all jurisdictions in which the nature of its business
or location of its properties require such qualifications and where the failure to be qualified could reasonably be expected to
have a Material Adverse Effect. Each Borrower’s present name, former names (if any), locations, place of formation, tax identification
number, organizational identification number and other information are correctly set forth in Exhibit C, as may be updated by Borrower
in a written notice (including any Compliance Certificate) provided to Lender after the Closing Date.

 

    - 13 -

     

    

 

5.2           Collateral. Borrower owns the Collateral, free of all Liens, except for Permitted Liens. Borrower has the power and
authority to grant to Lender a Lien in the Collateral as security for the Secured Obligations .

 

5.3           Consents. Borrower’s execution, delivery and performance of this Agreement and all other Loan Documents, (i) have
been duly authorized by all necessary corporate action of Borrower, (ii) will not result in the creation or imposition of
any Lien upon the Collateral, other than Permitted Liens, (iii) do not violate any provisions of Borrower’s Certificate or
Articles of Incorporation (as applicable), bylaws, or any, law, regulation, order, injunction, judgment, decree or writ to which
Borrower is subject and (iv) except as described on Schedule 5.3, do not violate any contract or agreement or require the
consent or approval of any other Person which has not already been obtained. The individual or individuals executing the Loan Documents
are duly authorized to do so.

 

5.4           Material Adverse Effect. No event that has had or could reasonably be expected to have a Material Adverse Effect
has occurred and is continuing. Borrower is not aware of any event likely to occur that is reasonably expected to result in a Material
Adverse Effect.

 

5.5           Actions Before Governmental Authorities. There are no actions, suits or proceedings at law or in equity or by or
before any governmental authority now pending or, to the knowledge of Borrower, threatened against or affecting Borrower or its
property that is reasonably expected to have a Material Adverse Effect.

 

5.6           Laws. To its knowledge, Borrower is not in violation of any law, rule or regulation, or in default with respect to
any judgment, writ, injunction or decree of any governmental authority, where such violation or default is reasonably expected
to result in a Material Adverse Effect. Borrower is not in default in any manner under any provision of any agreement or instrument
evidencing Indebtedness, or any other material agreement to which it is a party or by which it is bound.

 

5.7           Information Correct and Current. No information, report, Advance Request, financial statement, exhibit or schedule
furnished, by or on behalf of Borrower to Lender in connection with any Loan Document or included therein or delivered pursuant
thereto contained, contains or will contain (taken as a whole) any material misstatement of fact or omitted, omits or will omit
to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are
or will be made, not misleading at the time such statement was made or deemed made. Additionally, any and all financial or business
projections provided by Borrower to Lender, whether prior to or after the Closing Date, shall be (i) provided in good faith and
based on the most current data and information available to Borrower, and (ii) the most current of such projections provided to
Borrower’s Board of Directors.

 

5.8           Tax Matters. Borrower represents that (a) Borrower has filed all federal and state income and other material tax
returns that it is required to file, (b) Borrower has duly paid or fully reserved for all taxes or installments thereof (including
any interest or penalties) as and when due, which have or may become due pursuant to such returns, and (c) Borrower has paid or
fully reserved for any tax assessment received by Borrower for the three (3) years preceding the Closing Date, if any (including
any taxes being contested in good faith and by appropriate proceedings).

 

    - 14 -

     

    

 

5.9           Intellectual Property Claims. Borrower is the sole owner of, or otherwise has the right to use, the Intellectual
Property material and necessary in the operation or conduct of Borrower’s business as currently conducted. Borrower represents
that (i) each of the material Copyrights, Trademarks and Patents is valid and enforceable, (ii) no material part of the Intellectual
Property has been judged invalid or unenforceable, in whole or in part, and (iii) no claim has been made to Borrower that any material
part of the Intellectual Property violates the rights of any third party. Exhibit D is a true, correct and complete list of
each of Borrower’s Patents, registered Trademarks, registered Copyrights, and material agreements under which Borrower licenses
Intellectual Property from third parties (other than shrink-wrap software licenses), together with application or registration
numbers, as applicable, owned by Borrower or any Subsidiary, in each case as of the Closing Date. Borrower is not in material breach
of, nor has Borrower failed to perform any material obligations under, any of the foregoing contracts, licenses or agreements and,
to Borrower’s knowledge, no third party to any such contract, license or agreement is in material breach thereof or has failed
to perform any material obligations thereunder.

 

5.10         Intellectual Property. Borrower has, or in the case of any proposed business, will have, all material rights with
respect to Intellectual Property material and necessary in the operation or conduct of Borrower’s business as currently conducted.
Without limiting the generality of the foregoing, and in the case of Licenses, except for restrictions that are unenforceable under
Division 9 of the UCC, Borrower has the right, to the extent required to operate Borrower’s business, to freely transfer,
license or assign such Intellectual Property without condition, restriction or payment of any kind (other than license payments
in the ordinary course of business) to any third party, and Borrower owns or has the right to use, pursuant to valid licenses,
all software development tools, library functions, compilers and all other third-party software and other items that are used in
the design, development, promotion, sale, license, manufacture, import, export, use or distribution of Borrower Products.

 

5.11         Borrower Products. No Intellectual Property owned by Borrower or Borrower Product, in each case, material and necessary
in the operation or conduct of the Borrower’s business as currently conducted has been or is subject to any actual or, to
the knowledge of Borrower, threatened litigation, proceeding (including any proceeding in the United States Patent and Trademark
Office or any corresponding foreign office or agency) or outstanding decree, order, judgment, settlement agreement or stipulation
that restricts in any manner Borrower’s use, transfer or licensing thereof or that may affect the validity, use or enforceability
thereof. There is no decree, order, judgment, agreement, stipulation, arbitral award or other provision entered into in connection
with any litigation or proceeding that obligates Borrower to grant licenses or ownership interest in any such Intellectual Property
related to the material and necessary in the operation or conduct of the business of Borrower or Borrower Products. Borrower has
not received any written notice or claim, or, to the knowledge of Borrower, oral notice or claim, challenging or questioning Borrower’s
ownership in any such Intellectual Property (or written notice of any claim challenging or questioning the ownership in any such
licensed Intellectual Property of the owner thereof) or suggesting that any third party has any claim of legal or beneficial ownership
with respect thereto nor, to Borrower’s knowledge, is there a reasonable basis for any such claim. To the knowledge of Borrower,
neither Borrower’s use of its Intellectual Property material and necessary to the operation and conduct of its Business nor
the production and sale of any material Borrower Products infringes the United States registered Intellectual Property.

 

    - 15 -

     

    

 

5.12         Financial Accounts. Exhibit E, as may be updated by the Borrower in a written notice provided to Lender after the
Closing Date, is a true, correct and complete list of (a) all banks and other financial institutions at which Borrower or
any Subsidiary maintains Deposit Accounts and (b) all institutions at which Borrower or any Subsidiary maintains an account holding
Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or other institution,
the name in which the account is held, a description of the purpose of the account, and the complete account number therefor.

 

5.13         Employee Loans. Except for Permitted Investments, Borrower has no outstanding loans to any employee, officer or director
of the Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by
a third party.

 

5.14         Capitalization and Subsidiaries. Borrower’s capitalization as of the Closing Date is set forth on Schedule
5.14 annexed hereto. Borrower does not own any stock, partnership interest or other securities of any Person, except for Permitted
Investments. Attached as Schedule 5.14, as may be updated by Borrower in a written notice provided after the Closing Date, is a
true, correct and complete list of each Subsidiary.

 

SECTION
6. INSURANCE; INDEMNIFICATION

 

6.1           Coverage. Borrower shall cause to be carried and maintained commercial general liability insurance, on an occurrence
form, against risks customarily insured against in Borrower’s line of business. Such risks shall include the risks of bodily
injury, including death, property damage, personal injury, advertising injury, and contractual liability per the terms of the indemnification
agreement found in Section 6.3. Borrower must maintain a minimum of $2,000,000 of commercial general liability insurance
for each occurrence. Borrower has and agrees to maintain a minimum of $1,000,000 of directors’ and officers’ insurance
for each occurrence and $3,000,000 in the aggregate. So long as there are any Secured Obligations outstanding, Borrower shall also
cause to be carried and maintained insurance upon the Collateral, insuring against all risks of physical loss or damage howsoever
caused, in an amount not less than the full replacement cost of the Collateral, provided that such insurance may be subject to
standard exceptions and deductibles.

 

6.2           Certificates. Borrower shall deliver to Lender certificates of insurance that evidence Borrower’s compliance
with its insurance obligations in Section 6.1 and the obligations contained in this Section 6.2. Borrower’s
insurance certificate shall state Lender is an additional insured for commercial general liability, a loss payee for all risk property
damage insurance, subject to the insurer’s approval, and a loss payee for property insurance and additional insured for liability
insurance for any future insurance that Borrower may acquire from such insurer. Attached to the certificates of insurance will
be additional insured endorsements for liability and lender’s loss payable endorsements for all risk property damage insurance.
All certificates of insurance will provide for a minimum of thirty (30) days advance written notice to Lender of cancellation or
any other change adverse to Lender’s interests. Any failure of Lender to scrutinize such insurance certificates for compliance
is not a waiver of any of Lender’s rights, all of which are reserved.

 

    - 16 -

     

    

 

6.3          Indemnity. Borrower agrees to indemnify and hold Lender and their officers, directors, employees, agents, in-house
attorneys, representatives and shareholders (each, an “Indemnified Person”) harmless from and against any and
all claims, costs, expenses, damages and liabilities (including such claims, costs, expenses, damages and liabilities based on
liability in tort, including strict liability in tort), including reasonable attorneys’ fees and disbursements and other
costs of investigation or defense (including those incurred upon any appeal) (collectively, “Liabilities”), that may
be instituted or asserted against such Indemnified Person by third parties as the result of credit having been extended, suspended
or terminated under this Agreement and the other Loan Documents or the administration of such credit, or in connection with or
arising out of the transactions contemplated hereunder and thereunder, or any actions or failures to act in connection therewith,
or arising out of the disposition or utilization of the Collateral, excluding in all cases Liabilities to the extent resulting
from any Indemnified Person’s negligence, bad faith or willful misconduct. Borrower agrees to pay, and to save Lender harmless
from, any and all liabilities with respect to, or resulting from any delay in paying, any and all excise, sales or other similar
taxes that may be payable or determined to be payable with respect to any of the Collateral or this Agreement. In no event shall
any Party be liable on any theory of liability for any special, indirect, consequential or punitive damages (including any loss
of profits, business or anticipated savings).

 

6.4          Lender Tax Certificates. Lender shall deliver to Borrower, on or prior to the Closing Date (and from time to time
thereafter upon the reasonable request of Borrower), duly completed, valid, and executed originals of IRS Form W-9 (or any successor
form) certifying that Lender, as applicable, is exempt from U.S. federal backup withholding tax.

 

SECTION
7. COVENANTS OF BORROWER

 

Each Borrower agrees as follows:

 

7.1          Financial Reports. Borrower shall furnish to Lender the financial statements and reports listed hereinafter (clauses
(a)-(c) being referred to as, the “Financial Statements”):

 

(a)          within 45 days after the end of each month, unaudited interim and year-to-date financial statements as of the end of such
month (prepared on a consolidated basis), including balance sheet and related statements of income and cash flows, all certified
by Borrower’s Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance
with GAAP, except (i) for the absence of footnotes, (ii) that they are subject to normal year-end adjustments, and (iii) they do
not contain certain non-cash items that are customarily included in quarterly and annual financial statements. This section 7.1(a)
is only applicable until such time as Borrower completes a public equity offering. Once Borrower completes such public equity offering
or a Reverse Merger, the financial statements herein shall be sent to Lender immediately after they are duly filed with the appropriate
governmental authorities;

 

    - 17 -

     

    

 

(b)          within 45 days after the end of each of the first three calendar quarters of each fiscal year of Borrower, unaudited interim
and year-to-date financial statements as of the end of such calendar quarter (prepared on a consolidated basis), including balance
sheet and related statements of income and cash flows, certified by Borrower’s Chief Executive Officer or Chief Financial
Officer to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes, and (ii) that
they are subject to normal year-end adjustments; as well as the most recent capitalization table for Borrower, including the weighted
average exercise price of employee stock options. This section 7.1(b) is only applicable until such time as Borrower completes
a public equity offering or a Reverse Merger. Once Borrower completes such public equity offering, the financial statements herein
shall be sent to Lender immediately after they are duly filed with the appropriate governmental authorities;

 

(c)          within one hundred twenty (120) days after the end of each fiscal year unqualified audited financial statements as of the
end of such year (prepared on a consolidated basis), including balance sheet and related statements of income and cash flows, and
setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by RRBB Accountants and Advisors
or such other firm of independent certified public accountants selected by Borrower and reasonably acceptable to Lender, accompanied
by any management report from such accountants; provided that with respect to the audited financial statements for the fiscal year
ending December 31, 2013, Lender acknowledge that such financial statements shall be permitted to contain a going concern qualification
due to the previously disclosed cash position of the Borrower;

 

(d)          within
45 days after the end of each month, a Compliance Certificate in the form of Exhibit F;

 

(e)          together with the delivery of the monthly financial statements delivered under clause (a) above, a report showing agings
of accounts receivable and accounts payable;

 

(f)           promptly after the sending or filing thereof, as the case may be, copies of any proxy statements, financial statements or
reports that Borrower has made available to holders of its Preferred Stock generally and copies of any regular, periodic and special
reports or registration statements that Borrower files with the Securities and Exchange Commission or any governmental authority
that may be substituted therefore, or any national securities exchange;

 

(g)          financial and business projections promptly following their approval by Borrower’s Board of Directors; and

 

(h)          such other financial information reasonably requested by Lender.

 

Borrower shall not (without the consent
of Lender, such consent not to be unreasonably withheld or delayed), make any change in its (a) accounting policies or reporting
practices, except as required by GAAP or (b) fiscal years or fiscal quarters. The fiscal year of Borrower shall end on December
31.

 

    - 18 -

     

    

 

The executed Compliance Certificate
and Financial Statements required to be delivered pursuant to clauses (a), (b) and (c) shall be sent via e-mail to djohns@agfinancial.org
provided, that if e-mail is not available or sending such documents via e-mail is not possible, they shall be sent via facsimile
to Lender at: (417) 831-9998.

 

7.2           Management Rights. Borrower shall permit any representative that Lender authorizes, including its attorneys and accountants
(but in no event shall any representative be an employee or an agent of a competitor of Borrower), to inspect the Collateral and
examine and make copies and abstracts of the books of account and records of Borrower at reasonable times and upon reasonable notice
during normal business hours. The Lenders shall, collectively, be limited to two (2) such inspections and audit per calendar year
so long as no Event of Default exists, and thereafter without limit, which shall each be at Borrower’s expense, in an amount
not to exceed the reasonable and customary amounts for audits and inspections administered or conducted pursuant to this Section
7.2. In addition, any such representative shall have the right to meet with management and officers of Borrower to discuss
such books of account and records. In addition, Lender shall be entitled at reasonable times and intervals to consult with and
advise the management and officers of Borrower concerning significant business issues affecting Borrower. Such consultations shall
not unreasonably interfere with Borrower’s business operations. The parties intend that the rights granted Lender shall constitute
“management rights” within the meaning of 29 C.F.R Section 2510.3-101(d)(3)(ii), but that any advice, recommendations
or participation by Lender with respect to any business issues shall not be deemed to give Lender, nor be deemed an exercise by
Lender of, control over Borrower’s management or policies.

 

7.3           Further Assurances. Borrower shall from time to time execute, deliver and file, alone or with Lender, any financing
statements, security agreements, collateral assignments, notices, control agreements, or other documents to perfect or give the
highest priority to Lender’s Lien (subject to Permitted Liens) on the Collateral. Borrower shall from time to time procure
any instruments or documents as may be reasonably requested by Lender to perfect and protect the Liens granted hereby and thereby.
In addition, and for such purposes only if Borrower fails to timely respond, Borrower hereby authorizes Lender to execute and deliver
on behalf of Borrower and to file such financing statements, collateral assignments, notices, control agreements, security agreements
and other documents without the signature of Borrower either in Lender’s name or in the name of Lender as agent and attorney-in-fact
for Borrower. Borrower shall protect and defend Borrower’s title to the Collateral and Lender’s Lien thereon against
all Persons claiming any interest adverse to Borrower or Lender other than Permitted Liens.

 

7.4           Indebtedness. Without prior written consent of Lender, Borrower shall not create, incur, assume, guarantee or be
or remain liable with respect to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness, or prepay
any Indebtedness or take any actions which impose on Borrower an obligation to prepay any Indebtedness, except for (i) the conversion
of Indebtedness into equity securities and the payment of cash in lieu of fractional shares in connection with such conversion
and (ii) unsecured Indebtedness constituting indemnification obligations of Borrower arising under Borrower’s charter documents.
Any and all Indebtedness shall be subordinate to Lender under this Loan and Security Agreement. In the event Lender permits a new
debt under this Section, Borrower shall provide any and all documents associated with such debt to Lender.

 

    - 19 -

     

    

 

7.5           Collateral. Borrower shall at all times keep the Collateral and all other property and assets used in Borrower’s
business or in which Borrower now or hereafter holds any interest free and clear from any legal process or Liens whatsoever (except
for Permitted Liens), and shall give Lender prompt written notice of any legal process affecting the Collateral, such other property
and assets, or any Liens thereon, provided however, that the Collateral and such other property and assets may be subject to Permitted
Liens except that there shall be no Liens whatsoever on Intellectual Property material and necessary to the Borrower’s operations
or conduct of its business as currently conducted except as disclosed in Schedule 1A. Borrower shall cause its Subsidiaries to
protect and defend such Subsidiary’s title to its assets from and against all Persons claiming any interest adverse to such
Subsidiary, and Borrower shall cause its Subsidiaries at all times to keep such Subsidiary’s property and assets free and
clear from any legal process or Liens whatsoever (except for Permitted Liens, provided however, that there shall be no Liens whatsoever
on Intellectual Property material and necessary to the Borrower’s operations or conduct of its business as currently conducted),
and shall give Lender prompt written notice of any legal process affecting such Subsidiary’s assets. Borrower shall not agree
with any Person other than Lender not to encumber its property other than with respect to Permitted Liens.

 

7.6           Investments. Borrower shall not directly or indirectly acquire or own, or make any Investment in or to any Person,
or permit any of its Subsidiaries so to do, other than Permitted Investments.

 

7.7           Distributions. Except for Permitted Investments, Borrower shall not, and shall not allow any Subsidiary to, (a) repurchase
or redeem any class of stock or other equity interest other than pursuant to employee, director or consultant repurchase plans
or other similar agreements, provided, however, in each case the repurchase or redemption price does not exceed the original consideration
paid for such stock or equity interest, or (b) declare or pay any cash dividend or make a cash distribution on any class of stock
or other equity interest, except that a Subsidiary may pay dividends or make distributions to Borrower, or (c) lend money to any
employees, officers or directors or guarantee the payment of any such loans granted by a third party in excess of $100,000 in the
aggregate or (d) waive, release or forgive any Indebtedness owed by any employees, officers or directors in excess of $100,000
in the aggregate.

 

7.8           Transfers. Except for Permitted Transfers, Borrower shall not voluntarily or involuntarily transfer, sell, lease,
license, lend or in any other manner convey any equitable, beneficial or legal interest in any material portion of its assets.

 

7.9           Mergers or Acquisitions. Except with respect to the New Financing, Borrower shall not merge or consolidate, or permit
any of its Subsidiaries to merge or consolidate, with or into any other business organization (other than mergers or consolidations
of (a) a Subsidiary which is not a Borrower into another Subsidiary or into Borrower or (b) a Borrower into another Borrower),
or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another
Person.

 

    - 20 -

     

    

 

7.10         Taxes. Except for Excluded Taxes, Borrower and its Subsidiaries shall pay when due all taxes, fees or other charges
of any nature whatsoever (together with any related interest or penalties) now or hereafter imposed or assessed against Borrower,
Lender or the Collateral or upon Borrower’s ownership, possession, use, operation or disposition thereof or upon Borrower’s
rents, receipts or earnings arising therefrom. Borrower shall file on or before the due date therefor all personal property tax
returns in respect of the Collateral. Notwithstanding the foregoing, Borrower may contest, in good faith and by appropriate proceedings,
taxes for which Borrower maintains adequate reserves therefor in accordance with GAAP.

 

7.11         Corporate Changes. Other than in connection with a New Financing, neither Borrower nor any Subsidiary shall change
its corporate name, legal form or jurisdiction of formation without ten (10) days’ prior written notice to Lender. Neither
Borrower nor any Subsidiary shall suffer a Change in Control. Neither Borrower nor any Subsidiary shall relocate its chief executive
office or its principal place of business unless: (i) it has provided prior written notice to Lender; and (ii) such relocation
shall be within the continental United States. Neither Borrower nor any Subsidiary shall relocate any item of Collateral (other
than (x) sales of Inventory in the ordinary course of business, (y) relocations of Equipment having an aggregate value of up to
$150,000 in any fiscal year, and (z) relocations of Collateral from a location described on Exhibit C to another location described
on Exhibit C) unless (i) it has provided prompt written notice to Lender, (ii) such relocation is within the continental United
States and, (iii) if such relocation is to a third party bailee, it has delivered a bailee agreement in form and substance reasonably
acceptable to Lender.

 

7.12         Deposit Accounts. Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment
Property, except with respect to which Lender has an Account Control Agreement or as shown on Exhibit E.

 

7.13         New Subsidiaries. Borrower shall notify Lender of each Subsidiary formed subsequent to the Closing Date and, within
15 days of formation, shall cause any such Domestic Subsidiary to execute and deliver to Lender a Joinder Agreement.

 

7.14         Notification of Event of Default. Borrower shall notify Lender within five (5) Business Days of the occurrence of
any Event of Default, such notice to be sent via facsimile to Lender.

 

SECTION
8. EVENTS OF DEFAULT

 

The occurrence of any one or more of the
following events shall be an Event of Default:

 

8.1           Payments. Borrower fails to pay any amount due under this Agreement or any of the other Loan Documents within five
(5) Business Days of the due date; or

 

8.2           Covenants. Borrower breaches or defaults in any material respect in the performance of any covenant or Secured Obligation
under this Agreement, or any of the other Loan Documents, and (a) with respect to a default under any covenant under this
Agreement (other than under Sections 6 and 7.4, 7.5, 7.6, 7.7 ,7.8, 7.9, and 7.14), any other Loan Document
or any other agreement among Borrower and Lender, such default continues for more than thirty (30) days after the earlier of the
date on which (i) Lender has given notice of such default to Borrower and (ii) Borrower has actual knowledge of such default or
(b) with respect to a default under any of Sections 6 and 7.4, 7.5, 7.6, 7.7 ,7.8, 7.9, and 7.14, the occurrence
of such default; or

 

    - 21 -

     

    

 

8.3           Material Adverse Effect. A circumstance has occurred that results in a Material Adverse Effect; or

 

8.4           Representations. Any representation or warranty made by Borrower in any Loan Document or in the Warrant shall have
been false or misleading in any material respect; or

 

8.5           Insolvency. Borrower (A) (i) shall make an assignment for the benefit of creditors; or (ii) shall admit
in writing its inability to pay its debts as they become due, or be unable to pay or perform under the Loan Documents,; or (iii) shall
file a voluntary petition in bankruptcy; or (iv) shall file any petition, answer, or document seeking for itself any reorganization,
arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or
regulation pertinent to such circumstances; or (v) shall seek or consent to or acquiesce in the appointment of any trustee,
receiver, or liquidator of Borrower or of all or any substantial part (i.e., 33-1/3% or more) of the assets or property of Borrower;
or (vi) shall cease operations of its business as its business has normally been conducted, or terminate substantially all
of its employees; or (vii) Borrower or its directors or majority shareholders shall take any action initiating any of the
foregoing actions described in clauses (i) through (vi); or (B) either (i) ninety (90) days shall have expired after
the commencement of an involuntary action against Borrower seeking reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief under any present or future statute, law or regulation, without such action being dismissed or all
orders or proceedings thereunder affecting the operations or the business of Borrower being stayed; or (ii) a stay of any
such order or proceedings shall thereafter be set aside and the action setting it aside shall not be timely appealed; or (iii) Borrower
shall file any answer admitting or not contesting the material allegations of a petition filed against Borrower in any such proceedings;
or (iv) the court in which such proceedings are pending shall enter a decree or order granting the relief sought in any such
proceedings; or (v) sixty (60) days shall have expired after the appointment, without the consent or acquiescence of Borrower,
of any trustee, receiver or liquidator of Borrower or of all or any substantial part of the properties of Borrower without such
appointment being vacated; or

 

8.6           Attachments; Judgments. Any portion of Borrower’s assets is attached or seized, or a levy is filed against
any such assets, or a judgment or judgments (which is/are not covered by available insurance) is/are entered for the payment of
money, individually or in the aggregate, of at least $750,000 and such judgment is not paid, vacated or dismissed within ninety
(90) days of the entry thereof, or Borrower is enjoined or in any way prevented by court order from conducting any material part
of its business; or

 

8.7           Other Obligations. The occurrence of any default under any agreement or obligation of Borrower involving any Indebtedness
in excess of $750,000, and such default shall have not been waived.

 

    - 22 -

     

    

  

SECTION
9. REMEDIES

 

9.1           General. Upon and during the continuance of any one or more Events of Default, (i) Lender may, at its option, accelerate
and demand payment of all or any part of the Secured Obligations together with the End of Term Charge and declare them to be immediately
due and payable (provided, that upon the occurrence of an Event of Default of the type described in Section 8.5, all of
the Secured Obligations shall automatically be accelerated and made due and payable, in each case without any further notice or
act), (ii) Lender may, at its option, sign and file in Borrower’s name any and all collateral assignments, notices, control
agreements, security agreements and other documents it deems necessary or appropriate to perfect the Lien in the Collateral to
secure repayment of the Secured Obligations, and in furtherance thereof, Borrower hereby grants Lender an irrevocable power of
attorney coupled with an interest, and (iii) Lender may notify any of Borrower’s account debtors to make payment directly
to Lender, compromise the amount of any such account on Borrower’s behalf and endorse Lender’s name without recourse
on any such payment for deposit directly to Lender’s account. Lender may exercise all rights and remedies with respect to
the Collateral under the Loan Documents or otherwise available to it under the UCC and other applicable law, including the right
to release, hold, sell, lease, liquidate, collect, realize upon, or otherwise dispose of all or any part of the Collateral and
the right to occupy, utilize, process and commingle the Collateral. All Lender’s rights and remedies shall be cumulative
and not exclusive.

 

9.2           Collection; Foreclosure. Upon the occurrence and during the continuance of any Event of Default, Lender may, at any
time or from time to time, apply, collect, liquidate, sell in one or more sales, lease or otherwise dispose of, any or all of the
Collateral, in its then condition or following any commercially reasonable preparation or processing, in such order as Lender may
elect. Any such sale may be made either at public or private sale at its place of business or elsewhere. Borrower agrees that any
such public or private sale may occur upon ten (10) calendar days’ prior written notice to Borrower. Lender may require Borrower
to assemble the Collateral and make it available to Lender at a place designated by Lender that is reasonably convenient to Lender
and Borrower. The proceeds of any sale, disposition or other realization upon all or any part of the Collateral shall be applied
by Lender in the following order of priorities:

 

First, to Lender in an amount sufficient
to pay in full Lender’s costs and professionals’ and advisors’ fees and expenses as described in Section 10.11;

 

Second, to Lender in an amount equal
to the then unpaid amount of the Secured Obligations (including principal, interest, and the Default Rate interest), in such order
and priority as Lender may choose in its sole discretion; and

 

Finally, after the full, final,
and indefeasible payment in Cash of all of the Secured Obligations, to any creditor holding a junior Lien on the Collateral, or
to Borrower or its representatives or as a court of competent jurisdiction may direct.

 

Lender shall be deemed to have acted reasonably in the custody,
preservation and disposition of any of the Collateral if it complies with the obligations of a secured party under the UCC.

 

    - 23 -

     

    

 

9.3          No Waiver. Lender shall be under no obligation to marshal any of the Collateral for the benefit of Borrower or any
other Person, and Borrower expressly waives all rights, if any, to require Lender to marshal any Collateral.

 

9.4          Cumulative Remedies. The rights, powers and remedies of Lender hereunder shall be in addition to all rights, powers
and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies
provided herein shall not be construed as a waiver of or election of remedies with respect to any other rights, powers and remedies
of Lender.

 

9.5          The Lender shall not deliver any Activation Notice as defined in the Account Control Agreement prior to an Event of Default;
however, Borrower must receive prior approval from Lender to make a withdrawal for any amount greater than $100,000.00, from any
accounts referenced in the Account Control Agreement.

 

SECTION
10. MISCELLANEOUS

 

10.1        Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under such law, such provision
shall be ineffective only to the extent and duration of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement.

 

10.2        Notice. Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service
of process or other communication (including the delivery of Financial Statements) that is required, contemplated, or permitted
under the Loan Documents or with respect to the subject matter hereof shall be in writing, and shall be deemed to have been validly
served, given, delivered, and received upon the earlier of: (i) the day of transmission by facsimile or hand delivery or delivery
by an overnight express service or overnight mail delivery service; or (ii) the third calendar day after deposit in the United
States mails, with proper first class postage prepaid, in each case addressed to the party to be notified as follows:

 

(a)       If to Lender:

 

 STEWARD CAPITAL HOLDINGS, LP

 Attention: Donald P. Johns, CFO/VP

 3900 S. Overland Avenue

 Springfield, MO 65807

 Facsimile: 417-831-9998

 Telephone: 417-520-2707

Email: djohns@agfinancial.org

 

    - 24 -

     

    

 

(b)       If to Borrower:

 

FULL SPECTRUM, INC.

 

Attention: Stewart Kantor, CEO

687 N Pastoria Ave.

 Sunnyvale, CA 94085

 

 Telephone: (650) 743-8945

Email: Skantor@fullspectrumnet.com

 

or to such other address as each party may
designate for itself by like notice.

 

10.3        Entire Agreement; Amendments.

 

(a)       This Agreement and the other Loan Documents constitute the entire agreement and understanding of the parties hereto in respect
of the subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, non-disclosure
or confidentiality agreements, letters, negotiations or other documents or agreements, whether written or oral, with respect to
the subject matter hereof or thereof.

 

(b)       Neither this Agreement, any other Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified
except in writing executed by Lender and Borrower.

 

10.4        No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement.
In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly
by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Agreement.

 

10.5        No Waiver. The powers conferred upon Lender by this Agreement are solely to protect its rights hereunder and under
the other Loan Documents and its interest in the Collateral and shall not impose any duty upon Lender to exercise any such powers.
No omission or delay by Lender at any time to enforce any right or remedy reserved to it, or to require performance of any of the
terms, covenants or provisions hereof by Borrower at any time designated, shall be a waiver of any such right or remedy to which
Lender is entitled, nor shall it in any way affect the right of Lender to enforce such provisions thereafter.

 

10.6        Survival. All agreements, representations and warranties contained in this Agreement and the other Loan Documents
or in any document delivered pursuant hereto or thereto shall be for the benefit of Lender and shall survive the execution and
delivery of this Agreement and the expiration or other termination of this Agreement.

 

    - 25 -

     

    

 

10.7         
Successors and Assigns. The provisions of this Agreement and the other Loan Documents shall inure to the benefit
of and be binding on Borrower and its permitted assigns (if any). Subject to Section 10.13, Borrower shall not assign its obligations
under this Agreement or any of the other Loan Documents without Lender’s express prior written consent, and any such attempted
assignment shall be void and of no effect. Subject to Section 10.13, Lender may assign, transfer, or endorse its rights hereunder
and under the other Loan Documents without prior notice to Borrower, and all of such rights shall inure to the benefit of Lender’s
successors and assigns.

 

10.8         
Governing Law. This Agreement and the other Loan Documents have been negotiated and delivered to Lender in the State
of Missouri, and shall have been accepted by Lender in the State of Missouri. Payment to Lender by Borrower of the Secured Obligations
is due in the State of Missouri. This Agreement and the other Loan Documents shall be governed by, and construed and enforced in
accordance with, the laws of the State of Missouri, excluding conflict of laws principles that would cause the application of laws
of any other jurisdiction.

 

10.9         
Consent to Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Agreement or any
of the other Loan Documents may be brought in any state or federal court located in the State of Missouri. By execution and delivery
of this Agreement, each party hereto generally and unconditionally: (a) consents to nonexclusive personal jurisdiction in
Jackson County, Missouri; (b) waives any objection as to jurisdiction or venue in Jackson County, Missouri; (c) agrees
not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be
bound by any judgment rendered thereby in connection with this Agreement or the other Loan Documents. Service of process on any
party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements
for notice set forth in Section 10.2, and shall be deemed effective and received as set forth in Section 10.2.
Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either
party to bring proceedings in the courts of any other jurisdiction.

 

10.10        Mutual Waiver of Jury Trial. Because disputes arising in connection with complex financial transactions are most
quickly and economically resolved by an experienced and expert Person and the parties wish applicable state and federal laws to
apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws.
EACH OF BORROWER, LENDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM,
COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY BORROWER AGAINST LENDER
OR THEIR RESPECTIVE ASSIGNEE OR BY LENDER OR THEIR RESPECTIVE ASSIGNEE AGAINST BORROWER. This waiver extends to all such Claims,
including Claims that involve Persons other than Borrower and Lender; Claims that arise out of or are in any way connected to the
relationship among Borrower and Lender; and any Claims for damages, breach of contract, tort, specific performance, or any equitable
or legal relief of any kind, arising out of this Agreement, any other Loan Document.

 

    - 26 -

     

    

 

10.11       
Professional Fees. Borrower promises to pay Lender’s reasonable and documented out of pocket fees and expenses
necessary to finalize the loan documentation, including but not limited to reasonable and documented attorneys’ fees, UCC
searches, filing costs, and other miscellaneous expenses not to exceed in the aggregate $5,000. In addition, Borrower promises
to pay any and all reasonable and documented attorneys’ and other professionals’ fees and expenses (including, without
duplication, fees and expenses of in-house counsel) incurred by Lender after the Closing Date in connection with or related to:
(a)  the Loan; (b) the administration, collection, or enforcement of the Loan; (c) the amendment or modification
of the Loan Documents; (d) any waiver, consent, release, or termination under the Loan Documents; (e) the protection,
preservation, audit, field exam, sale, lease, liquidation, or disposition of Collateral or the exercise of remedies with respect
to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or
related to Borrower or the Collateral, and any appeal or review thereof; and (g) any bankruptcy, restructuring, reorganization,
assignment for the benefit of creditors, workout, foreclosure, or other action related to Borrower, the Collateral, the Loan Documents,
including representing Lender in any adversary proceeding or contested matter commenced or continued by or on behalf of Borrower’s
estate, and any appeal or review thereof.

 

10.12       
Confidentiality. Lender acknowledge that certain items of Collateral and information provided to Lender by Borrower
are confidential and proprietary information of Borrower, if and to the extent such information either (x) is marked as confidential
by Borrower at the time of disclosure, or (y) should reasonably be understood to be confidential (the “Confidential Information”).
Accordingly, Lender agree that any Confidential Information it may obtain in the course of acquiring, administering, or perfecting
Lender’s security interest in the Collateral shall not be disclosed to any other Person or entity in any manner whatsoever,
in whole or in part, without the prior written consent of Borrower, except that Lender may disclose any such information: (a) to
its own directors, officers, employees, accountants, counsel and other professional advisors and to its affiliates if Lender in
their sole discretion determines that any such party should have access to such information in connection with such party’s
responsibilities in connection with the Loan or this Agreement and, provided that such recipient of such Confidential Information
either (i) agrees to be bound by the confidentiality provisions of this paragraph or (ii) is otherwise subject to confidentiality
restrictions that reasonably protect against the disclosure of Confidential Information; (b) if such information is generally
available to the public; (c) if required or appropriate in any report, statement or testimony submitted to any governmental
authority having or claiming to have jurisdiction over Lender; (d) if required or appropriate in response to any summons or
subpoena or in connection with any litigation, to the extent permitted or deemed advisable by Lender’s counsel; provided
that to the extent permitted by applicable law, Lender shall promptly provide Borrower notice thereof to permit Borrower the opportunity
to take action to maintain confidentiality of such information; (e) to comply with any legal requirement or law applicable
to Lender; (f) to the extent reasonably necessary in connection with the exercise of any right or remedy under any Loan Document,
including Lender’s sale, lease, or other disposition of Collateral after the occurrence and continuance of an Event of Default;
(g) to any permitted participant or assignee of Lender or any prospective participant or assignee; provided, that such participant
or assignee or prospective participant or assignee agrees in writing to be bound by this Section prior to disclosure; or (h) otherwise
with the prior consent of Borrower; provided, that any disclosure made in violation of this Agreement shall not affect the obligations
of Borrower or any of its affiliates or any guarantor under this Agreement or the other Loan Documents.

 

    - 27 -

     

    

 

10.13       
 Assignment of Rights. Borrower acknowledges and understands that Lender may sell and assign all or part of its interest
hereunder and under the Loan Documents to any Person or entity other than a competitor of Borrower or any Person controlling such
competitor (an “Assignee”); provided that so long as no Event of Default exists any such assignment shall require
the prior written consent of Borrower (which consent shall not be unreasonably withheld, delayed or conditioned). After such assignment
the term “Lender” as used in the Loan Documents shall mean and include such Assignee, and such Assignee shall be vested
with all rights, powers and remedies of Lender hereunder with respect to the interest so assigned; but with respect to any such
interest not so transferred, Lender shall retain all rights, powers and remedies hereby given. No such assignment by Lender shall
relieve Borrower of any of its obligations hereunder. Lender agrees that in the event of any transfer by it of the Note(s)(if any),
it will endorse thereon a notation as to the portion of the principal of the Note(s), which shall have been paid at the time of
such transfer and as to the date to which interest shall have been last paid thereon.

 

10.14       
Revival of Secured Obligations. This Agreement and the Loan Documents shall remain in full force and effect and continue
to be effective if any petition is filed by or against Borrower for liquidation or reorganization, if Borrower becomes insolvent
or makes an assignment for the benefit of creditors, if a receiver or trustee is appointed for all or any significant part of Borrower’s
assets, or if any payment or transfer of Collateral is recovered from Lender. The Loan Documents and the Secured Obligations and
Collateral security shall continue to be effective, or shall be revived or reinstated, as the case may be, if at any time payment
and performance of the Secured Obligations or any transfer of Collateral to Lender, or any part thereof is rescinded, avoided or
avoidable, reduced in amount, or must otherwise be restored or returned by, or is recovered from, Lender or by any obligee of the
Secured Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as
though such payment, performance, or transfer of Collateral had not been made. In the event that any payment, or any part thereof,
is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan Documents and the Secured Obligations shall
be deemed, without any further action or documentation, to have been revived and reinstated except to the extent of the full, final,
and indefeasible payment to Lender in Cash.

 

10.15       
Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number
of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original,
but all of which counterparts shall constitute but one and the same instrument.

 

10.16       
No Third Party Beneficiaries. No provisions of the Loan Documents are intended, nor will be interpreted, to provide
or create any third-party beneficiary rights or any other rights of any kind in any Person other than Lender and Borrower unless
specifically provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan Documents will be personal
and solely among the Lender and the Borrower.

 

    - 28 -

     

    

 

10.17      Publicity.

 

(a)       Borrower
consents to the publication and use by Lender and any of its member businesses and affiliates of (i) Borrower’s name (including
a brief description of the relationship among Borrower and Lender) and logo and a hyperlink to Borrower’s web site, separately
or together, in written and oral presentations, advertising, promotional and marketing materials, client lists, public relations
materials or on its web site (together, the “Lender Publicity Materials”); (ii) the names of officers of Borrower in
the Lender Publicity Materials; and (iii) Borrower’s name, trademarks or servicemarks in any news release concerning Lender.

 

(b)       Lender
consent to the publication and use by Borrower and any of its Subsidiaries of (i) Lender’s name (including a brief description
of the relationship among Borrower, Lender), logo or hyperlink to Lender’s web site, separately or together, in written and
oral presentations, advertising, promotional and marketing materials, client lists, public relations materials or on its web site
(together, the “Borrower Publicity Materials”); (ii) the names of officers of Lender in the Borrower Publicity Materials;
and (iii) Lender’s name, trademarks, servicemarks in any news release concerning Borrower.

 

10.18  Termination of Security Interest.
Upon the payment in full of all Secured Obligations, the security interest granted herein
shall terminate and all rights to the Collateral shall revert to Company and the Lender shall as soon as reasonably possible following
such termination deliver a Termination of Deposit Account Control Agreement in respect of all Deposit Accounts. Upon
such termination Lender hereby authorizes Company to file any UCC termination statements necessary to effect such termination and
Lender will execute and deliver to Company any additional documents or instruments as Company shall reasonably request to evidence
such termination.

 

(SIGNATURES TO FOLLOW)

 

    - 29 -

     

    

 

IN WITNESS WHEREOF, Borrower, Lender have
duly executed and delivered this Loan and Security Agreement as of the day and year first above written.

 

	 	BORROWER:
	 	 	 
	 	FULL SPECTRUM, INC.
	 	 	 
	 	By:	/s/ Stewart Kantor
	 	 	Stewart Kantor, CEO

  

Accepted on March 9, 2018:

 

	 	LENDER:
	 	 	 
	 	STEWARD CAPITAL HOLDINGS, LP
	 	 	 
	 	By:	/s/ Donald P. Johns
	 	 	Donald P. Johns, Vice President/CFO

  

    - 30 -

     

    

 

Table of Addenda, Exhibits and Schedules

 

	Exhibit A:	Advance Request 
	 	Attachment to Advance Request
	 	 
	Exhibit B:	Note
	 	 
	Exhibit C:	Name, Locations, and Other Information for Borrower
	 	 
	Exhibit D:	Borrower’s Patents, Trademarks, Copyrights and Licenses
	 	 
	Exhibit E:	Borrower’s Deposit Accounts and Investment Accounts
	 	 
	Exhibit F:	Compliance Certificate
	 	 
	Exhibit G:	Joinder Agreement
	 	 
	Exhibit H:	ACH Debit Authorization Agreement
	 	 
	Schedule 1	Subsidiaries
	Schedule 1A	Existing Permitted Indebtedness
	Schedule 1B	Existing Permitted Investments
	Schedule 1C	Existing Permitted Liens
	Schedule 5.3	Consents, Etc.
	Schedule 5.14 	Capitalization

 

    - 31 -

     

    

  

EXHIBIT
A

 

ADVANCE
REQUEST

 

	To:	Lender:	Date: 	March 9, 2018
	 	 	 	 
	 	Steward Capital Holdings, LP

3900 S. Overland Avenue

Springfield, MO 65807

Facsimile: 417-831-9998

Attn: Donald P. Johns, CFO	 	 

 

Full Spectrum, Inc. (“Borrower”) hereby requests
from Steward Capital Holdings, LP (“Lender”) an Advance in the amount of Five Million Dollars ($5,000,000.00) on March
9, 2018 (the “Advance Date”) pursuant to the Loan and Security Agreement among Borrower and Lender (the “Agreement”).
Capitalized words and other terms used but not otherwise defined herein are used with the same meanings as defined in the Agreement.

 

Please:

 

		(a)	Issue a check payable to Borrower ________

 

or

 

		(b)	Wire Funds to Borrower’s account __X______

 

Bank:

Address:

ABA Number:

Account Number:

Account Name:

 

Borrower represents that the conditions
precedent to the Advance set forth in the Agreement are satisfied and shall be satisfied upon the making of such Advance, including
but not limited to: (i) that no event that has had a Material Adverse Effect has occurred and is continuing; (ii) that
the representations and warranties set forth in the Agreement are and shall be true and correct in all material respects on and
as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations and
warranties expressly relate to an earlier date; (iii) that Borrower is in compliance in all material respects with all the
terms and provisions set forth in each Loan Document on its part to be observed or performed; and (iv) that as of the Advance
Date, no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an
Event of Default under the Loan Documents. Borrower understands and acknowledges that Lender has the right to review the financial
information supporting this representation and, based upon such review in its sole discretion, Lender may decline to fund the requested
Advance.

 

    - 32 -

     

    

 

Borrower hereby represents that Borrower’s
corporate status and locations have not changed since the date of the Agreement or, if the Attachment to this Advance Request is
completed, are as set forth in the Attachment to this Advance Request.

 

Borrower agrees to notify Lender promptly
before the funding of the Loan if any of the matters which have been represented above shall not be true and correct on the Borrowing
Date and if Lender has received no such notice before the Advance Date then the statements set forth above shall be deemed to have
been made and shall be deemed to be true and correct as of the Advance Date.

 

Executed as of March 9, 2018.

 

	 	BORROWER:
	 	 	 
	 	FULL SPECTRUM, INC.
	 	 	 
	 	By:	/s/ Stewart Kantor
	 	 	Stewart Kantor, CEO

 

    - 33 -

     

    

 

ATTACHMENT
TO ADVANCE REQUEST

 

Dated: March 9, 2018

 

Borrower hereby represents and warrants to Lender that Borrower’s
current name and organizational status is as follows:

 

		Name:	
	 	 	 
	 	Type of organization:	Corporation
	 	 	 
	 	State of organization: 	Delaware 
	 	 	 
	 	Organization file number: 	4111322 

 

Borrower hereby represents and warrants to Lender that the street
addresses, cities, states and postal codes of its current locations are as follows:

 

FULL SPECTRUM, INC.

 

Attention: Stewart Kantor, CEO

687 N Pastoria Ave.

 Sunnyvale, CA 94085

 

Telephone: (650) 743-8945

Email: Skantor@fullspectrumnet.com

 

    - 34 -

     

    

 

EXHIBIT
B

 

SECURED
TERM PROMISSORY NOTE

 

	$5,000,000	Advance Date:  March 9, 2018
	 	 
	 	Maturity Date:  September 9, 2019

 

FOR VALUE RECEIVED, Full Spectrum a Delaware
corporation, for itself and each of its Subsidiaries (the “Borrower”) hereby promises to pay to the order of Steward
Capital Holdings, LP, a Delaware partnership, or the holder of this Note (the “Lender”) at 3900 S. Overland Avenue,
Springfield, MO 65807 or such other place of payment as the holder of this Secured Term Promissory Note (this “Promissory
Note”) may specify from time to time in writing, in lawful money of the United States of America, the principal amount of
Ten Million Dollars $10,000,000) or such lesser principal amount as Lender has advanced to Borrower, together with interest as
set forth in that certain Loan and Security Agreement dated March 9, 2018, by and among Borrower, its Domestic Subsidiaries party
thereto and Lender (as the same may from time to time be amended, modified or supplemented in accordance with its terms, the “Loan
Agreement”).

 

This Promissory Note is the Term Note referred
to in, and is executed and delivered in connection with, the Loan Agreement, and is entitled to the benefit and security of the
Loan Agreement and the other Loan Documents (as defined in the Loan Agreement), to which reference is made for a statement of all
of the terms and conditions thereof. All payments shall be made in accordance with the Loan Agreement. All terms defined in the
Loan Agreement shall have the same definitions when used herein, unless otherwise defined herein. An Event of Default under the
Loan Agreement shall constitute an Event of Default under this Promissory Note.

 

Borrower waives presentment and demand for
payment, notice of dishonor, protest and notice of protest under the UCC or any applicable law. Borrower agrees to make all payments
under this Promissory Note without setoff, recoupment or deduction and regardless of any counterclaim or defense. This Promissory
Note has been negotiated and delivered to Lender and is payable in the State of Missouri. This Promissory Note shall be governed
by and construed and enforced in accordance with, the laws of the State of Missouri, excluding any conflicts of law rules or principles
that would cause the application of the laws of any other jurisdiction.

 

BORROWER FOR ITSELF AND

ON BEHALF OF ITS SUBSIDIARIES: 

 

	 	FULL SPECTRUM, INC.
	 	 	 
	 	By:	/s/ Stewart Kantor
	 	 	Stewart Kantor, CEO

  

    

     

    

 

EXHIBIT
C

 

NAME, LOCATIONS,
AND OTHER INFORMATION FOR BORROWER

 

1. Borrower represents and warrants to Lender
that Borrower’s current name and organizational status as of the Closing Date is as follows:

 

	Name:	
	 	 
	Type of organization:	Corporation
	 	 
	State of organization:	Delaware
	 	 
	Organization file number:	4111322 

 

2.     Borrower represents and warrants to
Lender that for five (5) years prior to the Closing Date, Borrower did not do business under any other name or organization or
form except the following:

 

Name: Full Spectrum, Inc.

Used during dates of: 

Type of Organization: Corporation

State of organization: Delaware

Organization file Number:  

Borrower’s fiscal year ends on _____

Borrower’s federal employer tax identification number is: _______________

 

3.     Borrower represents and warrants to
Lender that its chief executive office is located at 687 N Pastoria Ave., Sunnyvale, CA 94085.

 

    

     

    

 

EXHIBIT
D

 

BORROWER’S
PATENTS, TRADEMARKS, COPYRIGHTS AND LICENSES

  

    

     

    

EXHIBIT
E

 

BORROWER’S
DEPOSIT ACCOUNTS AND INVESTMENT ACCOUNTS

 

Business Checking Account

 

FULL SPECTRUM INC.

 

Bank: 

Address:  

 

ABA Number:  

Account Number:  

Account Name:  

 

Business Savings Account

 

FULL SPECTRUM INC.

 

Bank:  

 

Address:  

 

Account number:  

 

For Direct Deposit use

 

Routing Number (RTN):  

 

For Wire Transfers use

 

Routing Number (RTN):  

  

    

     

    

 

EXHIBIT
F

 

COMPLIANCE
CERTIFICATE

 

Steward Capital Holdings, LP (as “Lender”)

3900 S. Overland Avenue

Springfield, MO 65807

 

Reference is made to that certain Loan and
Security Agreement dated March 9, 2018 and all ancillary documents entered into in connection with such Loan and Security Agreement
all as may be amended from time to time, (hereinafter referred to collectively as the “Loan Agreement”) by and among
Steward Capital Holdings, LP (the “Lender”) and Full Spectrum, Inc. (the “Company”) as Borrower. All capitalized
terms not defined herein shall have the same meaning as defined in the Loan Agreement.

 

The undersigned is an Officer of the Company,
knowledgeable of all Company financial matters, and is authorized to provide certification of information regarding the Company;
hereby certifies that in accordance with the terms and conditions of the Loan Agreement, the Company is in compliance for the period
ending ___________ of all covenants, conditions and terms and hereby reaffirms that all representations and warranties contained
therein are true and correct on and as of the date of this Compliance Certificate with the same effect as though made on and as
of such date, except to the extent such representations and warranties expressly relate to an earlier date, after giving effect
in all cases to any standard(s) of materiality contained in the Loan Agreement as to such representations and warranties. Attached
are the required documents supporting the above certification. The undersigned further certifies that these are prepared in accordance
with GAAP (except for the absence of footnotes with respect to unaudited financial statement and subject to normal year-end adjustments)
and are consistent from one period to the next except as explained below.

 

	REPORTING REQUIREMENT	REQUIRED	CHECK IF 

ATTACHED
	 	 	 
	Interim Financial Statements 	Monthly within 45 days	 
	 	 	 
	Interim Financial Statements 	Quarterly within 45 days	 
	 	 	 
	Audited Financial Statements 	FYE within 120 days	 
	 	 	 
	 	Very Truly Yours,	 
	 	 	 
	 	By:        ____________________________	 
	 	 	 
	 	Name:  _____________________________	 
	 	 	 
	 	Its:         ____________________________	 

 

    

     

    

 

EXHIBIT
G

 

FORM OF
JOINDER AGREEMENT

 

This Joinder Agreement (the “Joinder
Agreement”) is made and dated as of [ ], 20[ ], and is entered into by and between__________________., a ___________ corporation
(“Subsidiary”), and Steward Capital Holdings, LP (as “Lender”).

 

RECITALS

 

A. Subsidiary’s Affiliate,____________.
(“Company”) has entered into that certain Loan and Security Agreement dated June __, 2018, Lender as such agreement
may be amended (the “Loan Agreement”), together with the other agreements executed and delivered in connection therewith;

 

B. Subsidiary acknowledges and agrees that
it will benefit both directly and indirectly from Company’s execution of the Loan Agreement and the other agreements executed
and delivered in connection therewith;

 

AGREEMENT

 

NOW THEREFORE, Subsidiary and Lender agree
as follows:

 

		1.	The recitals set forth above are incorporated into and made part of this Joinder Agreement. Capitalized
terms not defined herein shall have the meaning provided in the Loan Agreement.

 

		2.	By signing this Joinder Agreement, Subsidiary shall be bound by the terms and conditions of the
Loan Agreement the same as if it were the Borrower (as defined in the Loan Agreement) under the Loan Agreement, mutatis mutandis,
provided however, that (a) with respect to (i) Section 5.1 of the Loan Agreement, Subsidiary represents that it is an entity duly
organized, legally existing and in good standing under the laws of [ ], (b) Lender shall not have any duties, responsibilities
or obligations to Subsidiary arising under or related to the Loan Agreement or the other agreements executed and delivered in connection
therewith, (c) that if Subsidiary is covered by Company’s insurance, Subsidiary shall not be required to maintain separate
insurance or comply with the provisions of Sections 6.1 and 6.2 of the Loan Agreement, and (d) that as long as Company satisfies
the requirements of Section 7.1 of the Loan Agreement, Subsidiary shall not have to provide Lender separate Financial Statements.
To the extent that Lender has any duties, responsibilities or obligations arising under or related to the Loan Agreement or the
other agreements executed and delivered in connection therewith, those duties, responsibilities or obligations shall flow only
to Company and not to Subsidiary or any other Person or entity. By way of example (and not an exclusive list): (i) Lender’s
providing notice to Company in accordance with the Loan Agreement or as otherwise agreed among Company, Lender shall be deemed
provided to Subsidiary; (ii) a Lender’s providing an Advance to Company shall be deemed an Advance to Subsidiary; and (iii)
Subsidiary shall have no right to request an Advance or make any other demand on Lender.

 

		3.	Subsidiary agrees not to certificate its equity securities without Lender’s prior written
consent, which consent may be conditioned on the delivery of such equity securities to Lender in order to perfect Lender’s
security interest in such equity securities.

 

    

     

    

 

		4.	Subsidiary acknowledges that it benefits, both directly and indirectly, from the Loan Agreement,
and hereby waives, for itself and on behalf on any and all successors in interest (including without limitation any assignee for
the benefit of creditors, receiver, bankruptcy trustee or itself as debtor-in-possession under any bankruptcy proceeding) to the
fullest extent provided by law, any and all claims, rights or defenses to the enforcement of this Joinder Agreement on the basis
that (a) it failed to receive adequate consideration for the execution and delivery of this Joinder Agreement or (b) its obligations
under this Joinder Agreement are avoidable as a fraudulent conveyance.

 

[REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK]

 

    

     

    

 

[SIGNATURE PAGE TO JOINDER
AGREEMENT]

 

	SUBSIDIARY:	

	_________________________________.	

 

	 	By:	 	 

	 	Name:

 

	 	 

	 	Title:	 	 

	 	Address:	 	 

	 	 	 	 

	 	 	 	 

	 	Telephone:	 	 

	 	Facsimile:	 	 

  

LENDER:

 

Steward Capital Holdings, LP.

 

	By:	 	 

Name: Donald P. Johns

Title: Vice President/CFO

Address:

3900 S. Overland Avenue

Springfield, MO 65807

Facsimile: (417) 831-9998

Telephone: (417) 520-2707

 

    

     

    

 

EXHIBIT
H

 

ACH DEBIT
AUTHORIZATION AGREEMENT

 

Steward Capital Holdings, LP

3900 S. Overland Avenue

Springfield, MO 65807

 

Re: Loan and Security Agreement
dated March 9, 2018 between Full Spectrum Inc. (“Borrower”), Steward Capital Holdings, LP, as lender (the “Agreement”)

 

In connection with the above referenced
Agreement, the Borrower hereby authorizes the Company to initiate debit entries for the periodic payments due under the Agreement
to the Borrower’s account indicated below. The Borrower authorizes the depository institution named below to debit to such
account.

 

This authority will remain in full force
and effect so long as any amounts are due under the Agreement.

 

Full Spectrum Inc. (Borrower)(Please
Print)

 

	By:	 	 

 

	Date:	 	 

 

Bank:

Address

 

ABA Number:

Account Number:

Account Name:

 

    

     

    

 

SCHEDULE 1

List of Subsidiaries of Borrower at Closing
Date

 

NONE

 

    

     

    

 

SCHEDULE 1B

List of Investments on Closing Date

 

NONE

 

    

     

    

 

SCHEDULE 5.3

CONSENTS

 

NONEExhibit 10.9

 

LOAN
AND SECURITY AGREEMENT 

 

THIS LOAN AND SECURITY
AGREEMENT is made and dated as of October 1, 2018 and is entered into by and between ZEV VENTURES INCORPORATED, a Nevada corporation,
and each of its Domestic Subsidiaries signatory hereto or hereinafter a party hereto by joinder (hereinafter collectively referred
to as the “Borrower”), and ENERGY CAPITAL, LLC, a Florida limited liability company, and its successors and
assigns (together with its successors and assigns, hereinafter referred to as “Lender”). 

 

RECITALS

 

A.       Borrower
has requested Lender to make available to Borrower a loan in an aggregate principal amount of up to Ten Million Dollars ($10,000,000.00)
(the “Loan”); and

 

B.       Lender
is willing to make the Loan on the terms and conditions set forth in this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, Borrower
and Lender agree as follows:

 

SECTION
1. DEFINITIONS AND RULES OF CONSTRUCTION

 

1.1      Unless
otherwise defined herein, the following capitalized terms shall have the following meanings:

 

“Account Control
Agreement” means any agreement entered into by and among the Lender, Borrower and a third party Bank or other institution
(including a Securities Intermediary) in which Borrower maintains a Deposit Account or an account holding Investment Property and
which grants Lender a perfected first priority security interest in the subject account or accounts.

 

“ACH Authorization”
means the ACH Debit Authorization Agreement in substantially the form of Exhibit G.

 

“Advance”
means any advance under Section 2.1 below.

 

“Advance Date”
means the funding date of any Advance.

 

“Advance Request”
means a request for an Advance submitted by Borrower to Lender in substantially the form of Exhibit A.

 

“Agreement”
means this Loan and Security Agreement, as amended, modified, supplemented or restated from time to time.

 

“Assignee”
has the meaning given to it in Section 10.13.

 

“Borrower
Products” means all products, software, service offerings, technical data or technology currently being designed, manufactured
or sold by Borrower or which Borrower intends to sell, license, or distribute in the future including any products or service offerings
under development, collectively, together with all products, software, service offerings, technical data or technology that have
been sold, licensed or distributed by Borrower since its incorporation.

 

     

     

    

 

“Business
Day” means any day other than Saturday, Sunday and any other day on which banking institutions in the State of Florida
are closed for business.

 

“Cash”
means all cash, marketable securities, and other liquid funds (including, without limitation, those Permitted Investments set forth
in clauses (ii)(a)-(d) of the definition thereof).

 

“Change in
Control” means any (i) reorganization, recapitalization, consolidation or merger (or similar transaction or series of
related transactions) of Borrower or any Subsidiary, sale or exchange of outstanding shares (or similar transaction or series of
related transactions) of Borrower or any Subsidiary in which the holders of Borrower or Subsidiary’s outstanding shares immediately
before consummation of such transaction or series of related transactions (or their controlled affiliates) do not, immediately
after consummation of such transaction or series of related transactions, retain shares representing more than fifty percent (50%)
of the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving
entity if such surviving entity is wholly owned by such parent), in each case without regard to whether Borrower or Subsidiary
is the surviving entity, or (ii) sale or issuance by Borrower of new shares of Preferred Stock of Borrower to investors, none of
whom are current investors in Borrower, and such new shares of Preferred Stock are senior to all existing Preferred Stock and common
stock with respect to liquidation preferences, and the aggregate liquidation preference of the new shares of Preferred Stock is
more than fifty percent (50%) of the aggregate liquidation preference of all shares of Preferred Stock and common stock of Borrower;
provided, however, a Public Offering as defined in Section 2.3 by Borrower shall not constitute a Change in Control.

 

“Claims”
has the meaning given to it in Section 10.10.

 

“Closing Date”
means the date of this Agreement.

 

“Code”
means the Internal Revenue Code of 1986, and the regulations thereunder, in each case as amended from time to time.

 

“Collateral”
has the meaning given to it in Section 3.

 

“Confidential
Information” has the meaning given to it in Section 10.12.

 

“Contingent
Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person
with respect to (i) any Indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation
directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which
that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate
credit cards or merchant services issued for the account of that Person; and (iii) all obligations arising under any interest rate,
currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement
designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however,
that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course
of business. The amount of any Contingent Obligation shall be computed at the amount that meets the criteria for accrual under
Statement of Financial Accounting Standard No. 5.

 

“Copyright
License” means any written agreement granting any right to use any Copyright or Copyright registration, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest.

 

    - 2 - 

     

    

 

“Copyrights”
means all copyrights, whether registered or unregistered, held pursuant to the laws of the United States, any State thereof, or
of any other country.

 

“Default”
means any event or occurrence that, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

 

“Deposit Accounts”
means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account,
or certificate of deposit.

 

“Domestic
Subsidiary” means any Subsidiary that is not a Foreign Subsidiary.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder.

 

“Excluded
Taxes” means any of the following taxes imposed on or with respect to Lender or required to be withheld or deducted from
a payment to Lender, (a) taxes imposed on or measured by net income (however denominated), franchise taxes, and branch profits
taxes, in each case, (i) imposed as a result of Lender being organized under the laws of, or having its principal office or, in
the case of any Lender, its applicable lending office located in, the jurisdiction imposing such tax (or any political subdivision
thereof) or (ii) that are Other Connection Taxes, (b) in the case of Lender, U.S. federal withholding taxes imposed on amounts
payable to or for the account of such Lender with respect to an applicable interest in a Loan or Term Commitment (or otherwise
pursuant to any Loan Document) pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan
or commitment hereunder or becomes a party to this Agreement or (ii) Lender changes its lending office, except in each case of
(i) and (ii) above, to the extent that amounts with respect to such taxes were payable either to Lender’s assignor immediately
before Lender became a party hereto or to Lender immediately before it changed its lending office, (c) taxes attributable to Lender’s
failure to comply with Section 6.4, and (d) any U.S. federal withholding taxes imposed under FATCA.

 

“Event of
Default” has the meaning given to it in Section 8.

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version of such sections
that are substantively comparable and not materially more onerous to comply with) and any current or future regulations or official
interpretations thereof, and any agreements entered into pursuant to Section 1471(b)(1) of the Code.

 

“Financial
Statements” has the meaning given to it in Section 7.1.

 

“Foreign Subsidiary”
means any Subsidiary other than a Subsidiary organized under the laws of any state within the United States.

 

“GAAP”
means generally accepted accounting principles in the United States of America, as in effect from time to time.

 

“Indebtedness”
means indebtedness of any kind, including (a) all indebtedness for borrowed money (excluding trade credit entered into in the ordinary
course of business that are not more than sixty (60) days past due), including reimbursement and other obligations with respect
to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all
capital lease obligations, and (d) all Contingent Obligations.

 

    - 3 - 

     

    

 

“Insolvency
Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy
or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or
proceedings seeking reorganization, arrangement, or other similar relief.

 

“Intellectual
Property” means all of Borrower’s Copyrights; Trademarks; Patents; Licenses; trade secrets, software codes and
inventions; mask works; Borrower’s applications therefor and reissues, extensions, or renewals thereof; and Borrower’s
goodwill associated with any of the foregoing, together with Borrower’s rights to sue for past, present and future infringement
of Intellectual Property and the goodwill associated therewith.

 

“Investment”
means any beneficial ownership (including stock, partnership or limited liability company interests) of or in any Person, or any
loan, advance or capital contribution to any Person or the acquisition of all, or substantially all, of the assets of another Person.

 

“Joinder Agreements”
means for each Subsidiary other than a Foreign Subsidiary, a completed and executed Joinder Agreement in substantially the form
attached hereto as Exhibit F.

 

“Lender”
has the meaning given to it in the preamble to this Agreement.

 

“License”
means any Copyright License, Patent License, Trademark License or other license of rights or interests.

 

“Lien”
means any mortgage, deed of trust, pledge, hypothecation, assignment for security, security interest, encumbrance, levy, lien or
charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional
sale or other title retention agreement, and any lease in the nature of a security interest.

 

“Loan”
has the meaning given such term in the Recitals.

 

“Loan Documents”
means this Agreement, the Note, the ACH Authorization, the Account Control Agreements, the Joinder Agreements (if any), and any
other documents executed in connection with the Secured Obligations or the transactions contemplated hereby, as the same may from
time to time be amended, modified, supplemented or restated.

 

“Loan Interest
Rate” means for any day a per annum rate of interest equal to the greater of (a) 11.25% or (b) 11.25% plus the Prime
Rate, less 3.25%.

 

“Material
Adverse Effect” means a material adverse effect upon: (i) the business, operations, properties, assets or financial condition
of Borrower and its Subsidiaries taken as a whole; or (ii) the ability of Borrower to perform the Secured Obligations in accordance
with the terms of the Loan Documents, or the ability of Lender to enforce any of its material rights or remedies with respect to
the Secured Obligations; or (iii) any material portion of the Collateral or Lender’s Liens on such Collateral or the priority
of such Liens.

 

“Maturity
Date” means the earlier of September 30, 2019 or 10 business days following the date of the Underwritten Public Offering
as defined in Section 2.3.

 

“Maximum Loan
Amount” means Ten Million and No/100 Dollars ($10,000,000).

 

“Maximum Rate”
shall have the meaning assigned to such term in Section 2.1(e).

 

    - 4 - 

     

    

 

“Merger”
means the Effective Date of the closing of the Agreement and Plan of Merger and Reorganization by and among the Borrower, Zev Merger
Sub, Inc., a Delaware corporation and wholly owned subsidiary of Zev Ventures Incorporated, and Ondas Networks Inc. (“Ondas”).

 

“Note”
means a Secured Term Promissory Note made by Borrower in favor of Lender in the form attached hereto as Exhibit B.

 

“Patent License”
means any written agreement granting any right with respect to any invention on which a Patent is in existence or a Patent application
is pending, in which agreement Borrower now holds or hereafter acquires any interest.

 

“Patents”
means all letters patent of, or rights corresponding thereto, in the United States or in any other country, all registrations and
recordings thereof, and all applications for letters patent of, or rights corresponding thereto, in the United States or any other
country.

 

“Permitted
Indebtedness” means: (i) Indebtedness of Borrower in favor of Lender arising under this Agreement or any other Loan Document;
(ii) Indebtedness existing on the Closing Date which is disclosed in Borrower’s and Ondas’ financial statements (jointly
“Ondas FS”) ; (iii) Indebtedness of up to $250,000 outstanding at any time secured by a Lien described in clause (vii)
of the defined term “Permitted Liens,” provided such Indebtedness does not exceed the lesser of the cost or fair market
value of the Equipment financed with such Indebtedness; (iv) Indebtedness to trade creditors incurred in the ordinary course of
business, including Indebtedness incurred in the ordinary course of business with corporate credit cards; (v) Indebtedness that
also constitutes a Permitted Investment; (vi) Subordinated Indebtedness; (vii) reimbursement obligations in connection with letters
of credit that are secured by cash or cash equivalents and issued on behalf of the Borrower or a Subsidiary thereof in an amount
not to exceed $200,000 at any time outstanding, (viii) other Indebtedness in an amount not to exceed $100,000 at any time outstanding,
and (ix) extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not
increased or the terms modified to impose materially more burdensome terms upon Borrower or its Subsidiary, as the case may be.

 

“Permitted
Investment” means: (i) Investments existing on the Closing Date which are disclosed in Ondas FS; (ii) (a) marketable
direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof maturing
within one year from the date of acquisition thereof, (b) commercial paper maturing no more than one year from the date of creation
thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s
Investors Service, (c) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one
year from the date of investment therein, and (d) money market accounts; (iii) repurchases of stock from former employees, directors,
or consultants of Borrower under the terms of applicable repurchase agreements at the original issuance price of such securities
in an aggregate amount not to exceed $250,000 in any fiscal year, provided that no Event of Default has occurred, is continuing
or would exist after giving effect to the repurchases; (iv) Investments accepted in connection with Permitted Transfers; (v) Investments
(including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement
of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of Borrower’s
business; (vi) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and
suppliers who are not affiliates, in the ordinary course of business, provided that this subparagraph (vi) shall not apply to Investments
of Borrower in any Subsidiary; (vii) Investments consisting of loans not involving the net transfer on a substantially contemporaneous
basis of cash proceeds to employees, officers or directors relating to the purchase of capital stock of Borrower pursuant to employee
stock purchase plans or other similar agreements approved by Borrower’s Board of Directors; (viii) Investments consisting
of travel advances in the ordinary course of business; (ix) Investments in Domestic Subsidiaries, provided that each such Domestic
Subsidiary enters into (or has previously entered into) a Joinder Agreement promptly after its formation by Borrower and execute
such other documents as shall be reasonably requested by Lender, and Investments by Domestic Subsidiaries in Borrower; (x) Investments
in Foreign Subsidiaries approved in advance in writing by Lender; (xi) joint ventures or strategic alliances in the ordinary course
of Borrower’s business consisting of the nonexclusive licensing of technology, the development of technology or the providing
of technical support, provided that any cash Investments by Borrower do not exceed $250,000 in the aggregate in any fiscal year;;
(xii) additional Investments that do not exceed $250,000 in the aggregate; and (xiii) Investment in an office in the Country of
China not to exceed $250,000.

 

    - 5 - 

     

    

 

“Permitted
Liens” means any and all of the following: (i) Liens in favor of Lender; (ii) Liens existing on the Closing Date which
are disclosed in Schedule 1A; (iii) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent
or being contested in good faith by appropriate proceedings; provided, that Borrower maintains adequate reserves therefor in accordance
with GAAP; (iv) Liens securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other
like Persons arising in the ordinary course of Borrower’s business and imposed without action of such parties; provided,
that the payment thereof is not yet required; (v) Liens arising from judgments, decrees or attachments in circumstances which do
not constitute an Event of Default hereunder; (vi) the following deposits, to the extent made in the ordinary course of business:
deposits under worker’s compensation, unemployment insurance, social security and other similar laws, or to secure the performance
of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure indemnity, performance or other similar
bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory
obligations (other than Liens arising under ERISA or environmental Liens) or surety or appeal bonds, or to secure indemnity, performance
or other similar bonds; (vii) Liens on Equipment or software or other intellectual property constituting purchase money Liens and
Liens in connection with capital leases securing Indebtedness permitted in clause (iii) of “Permitted Indebtedness”;
(viii) Liens incurred in connection with Subordinated Indebtedness; (ix) leasehold interests in leases or subleases and licenses
granted in the ordinary course of business and not interfering in any material respect with the business of the licensor; (x) Liens
in favor of customs and revenue authorities arising as a matter of law to secure payment of custom duties that are promptly paid
on or before the date they become due; (xi) Liens on insurance proceeds securing the payment of financed insurance premiums that
are promptly paid on or before the date they become due (provided that such Liens extend only to such insurance proceeds and not
to any other property or assets); (xii) statutory and common law rights of set-off and other similar rights as to deposits of cash
and securities in favor of banks, other depository institutions and brokerage firms; (xiii) easements, zoning restrictions, rights-of-way
and similar encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not materially
impair the value or marketability of the related property; (xiv) Liens on cash or cash equivalents securing obligations permitted
under clause (vii) of the definition of Permitted Indebtedness; (xv) additional Liens that do not exceed $100,000 in the aggregate;
and (xvi) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness secured by Liens of the type
described in clauses (i) through (xi) above; provided, that any extension, renewal or replacement Lien shall be limited to the
property encumbered by the existing Lien and the principal amount of the Indebtedness being extended, renewed or refinanced (as
may have been reduced by any payment thereon) does not increase.

 

“Permitted
Transfers” means (i) sales of Inventory in the ordinary course of business, (ii) non-exclusive licenses and similar arrangements
for the use of Intellectual Property in the ordinary course of business and licenses that could not result in a legal transfer
of title of the licensed property but that may be exclusive, or (iii) dispositions of worn-out, obsolete or surplus property at
fair market value in the ordinary course of business, (iv) transactions permitted by Section 7.9 and (v) other Transfers
of assets having a fair market value of not more than $500,000 in the aggregate in any fiscal year.

 

    - 6 - 

     

    

 

“Person”
means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation,
limited liability company, institution, other entity or government.

 

“Preferred
Stock” means at any given time any equity security issued by Borrower that has any rights, preferences or privileges
senior to Borrower’s common stock.

 

“Prime Rate”
means the Wall Street Journal (National Edition) Prime Rate.

 

“Secured Obligations”
means Borrower’s obligations under this Agreement and any Loan Document, including any obligation to pay any amount now owing
or later arising.

 

“Subordinated
Indebtedness” means Indebtedness subordinated to the Secured Obligations in amounts and on terms and conditions satisfactory
to Lender in its reasonable discretion.

 

“Subsidiary”
means an entity, whether corporate, partnership, limited liability company, joint venture or otherwise, in which Borrower owns
or controls 50% or more of the outstanding voting securities, including each entity listed on Schedule 1 hereto.

 

“Trademark
License” means any written agreement granting any right to use any Trademark or Trademark registration, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest.

 

“Trademarks”
means all trademarks (registered, common law or otherwise) and any applications in connection therewith, including registrations,
recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States,
any State thereof or any other country or any political subdivision thereof.

 

“UCC”
means the Uniform Commercial Code as the same is, from time to time, in effect in the State of Florida; provided, that in the event
that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect
to, Lender’s Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time to time, in effect
in a jurisdiction other than the State of Florida, then the term “UCC” shall mean the Uniform Commercial Code as in
effect, from time to time, in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment,
perfection, priority or remedies and for purposes of definitions related to such provisions.

 

“Underwritten
Public Offering” means the firm commitment underwritten offering of Borrower’s common stock pursuant to a registration
statement under the Securities Act of 1933 filed with and declared effective by the Securities and Exchange Commission.

 

Unless otherwise specified,
all references in this Agreement or any Annex or Schedule hereto to a “Section,” “subsection,” “Exhibit,”
“Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule
in or to this Agreement. Unless otherwise specifically provided herein, any accounting term used in this Agreement or the other
Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder
shall be computed in accordance with GAAP, consistently applied. Unless otherwise defined herein or in the other Loan Documents,
terms that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them in the UCC.
Notwithstanding anything contained herein to the contrary, any lease properly classified as an operating lease when entered into
shall continue to constitute an operating lease during the term of this Agreement regardless of any reclassification thereof as
a capital lease due to a change in treatment under GAAP.

 

    - 7 - 

     

    

 

SECTION
2. THE LOAN

 

2.1          Loan.

 

(a)       Advances.
Subject to the terms and conditions of this Agreement, Lender will make an Advance of up to $1,000,000 after the Closing Date of
the Merger upon request of the Borrower (“First Advance”); provided that (i) the $10,000,000 Loan to Ondas from Steward
Capital Holdings, LLC has been fully funded, (ii) the Borrower’s cash on hand is less than $250,000, and, (iii) no Event
of Default shall have occurred and is continuing. Borrower may request additional Advances in an amount up to $1,000,000 per month
under the same terms as mentioned hereinabove in this paragraph (“Advance”).

 

(b)       Advance
Request. To obtain an Advance, Borrower shall complete, sign and deliver an Advance Request (at least five (5) Business Days
before the Advance Date) to Lender; provided that the Advance Request related to the First Advance may be delivered on the Closing
Date related thereto. Lender shall fund the Advance in the manner requested by the Advance Request provided that each of the conditions
precedent to such Advance is satisfied as of the requested Advance Date.

 

(c)       Interest.
The principal balance of the Loan shall bear interest thereon from each such Advance Date at the Loan Interest Rate based on a
year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Loan Interest Rate will
float and change on the day the Prime Rate changes from time to time.

 

(d)       Payment.
Borrower will pay interest only on the outstanding principal balance of the Loan on the first day of each month, beginning February
1, 2019, until the Maturity Date. The entire Loan principal balance and all accrued but unpaid interest hereunder, shall be due
and payable on Maturity Date. Borrower shall make all payments under this Agreement without setoff, recoupment or deduction and
regardless of any counterclaim or defense. Lender will initiate debit entries to the Borrower’s account as authorized on
the ACH Authorization on each payment date of all periodic obligations payable to Lender under each Term Advance.

 

(e)       Maximum
Interest. Notwithstanding any provision in this Agreement or any other Loan Document, it is the parties’ intent not to
contract for, charge or receive interest at a rate that is greater than the maximum rate permissible by law that a court of competent
jurisdiction shall deem applicable hereto (which under the laws of the State of Florida shall be deemed to be the laws relating
to permissible rates of interest on commercial loans) (the “Maximum Rate”). If a court of competent jurisdiction shall
finally determine that Borrower has actually paid to Lender an amount of interest in excess of the amount that would have been
payable if all of the Secured Obligations had at all times borne interest at the Maximum Rate, then such excess interest actually
paid by Borrower shall be applied as follows: first, to the payment of the Secured Obligations consisting of the outstanding principal;
second, after all principal is repaid, to the payment of Lender’s accrued interest, costs, expenses, professional fees and
any other Secured Obligations; and third, after all Secured Obligations are repaid, the excess (if any) shall be refunded to Borrower.

 

(f)       Default
Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to two percent (2%) of the past
due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder,
all Secured Obligations, including principal, interest, and compounded interest shall bear interest at a rate per annum equal to
the rate set forth in Section 2.1(c), plus two percent (2%) per annum. In the event any interest is not paid when due hereunder,
delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in this Section
2.1(c).

 

    - 8 - 

     

    

 

2.2          Prepayment.
Borrower may at any time and without penalty prepay all, but not less than all, of the outstanding Advances by paying the entire
principal balance and all accrued and unpaid interest thereon. Borrower shall prepay the outstanding amount of all principal and
accrued and unpaid interest through the prepayment date upon the occurrence of a Change of Control. Notwithstanding anything contained
in the foregoing to the contrary, no prepayment fee shall be payable to Lender to the extent Lender acts as agent, arranges or
participates as a lender in any refinancing facility that repays the Secured Obligations.

 

2.3          Underwritten
Public Offering. Upon Borrower completing an Underwritten Public Offering for not less than $40M in gross proceeds, the Secured
Obligations become due and payable.

 

2.4          Note.
The Loan shall be evidenced by the Note.

 

SECTION
3. SECURITY INTEREST

 

3.1          Grant
of Security Interest. The Borrower hereby pledges and grants to the Lender, and hereby creates a continuing priority Lien and
security interest (subject to any Permitted Liens) in favor of the Lender, subordinated only to Steward Capital Holdings, LP, a
Delaware corporation, in and to all of its right, title and interest in and to the following, wherever located, whether now existing
or hereafter from time to time arising or acquired (collectively, the “Collateral”):

 

(a)       Any
and all intellectual property of every kind and nature including all patents now owned and any patent now pending and any other
right Borrower has to any intellectual property.

 

(b)       all
Fixtures and personal property of every kind and nature including all Accounts, Goods (including Inventory and Equipment), Documents
(including, if applicable, Electronic Documents), Instruments, Promissory Notes, Chattel Paper (whether Tangible or Electronic),
Letters of Credit, Letter-Of-Credit Rights (whether or not the Letter Of Credit is evidenced by a writing), Securities and all
other Investment Property, Commercial Tort Claims, General Intangibles (including all Payment Intangibles and all Intellectual
Property), Money, Deposit Accounts, and any other Contract Rights or rights to the payment of Money; and

 

(c)       all
Proceeds and products of each of the foregoing, all books and records relating to the foregoing, all supporting obligations related
thereto, and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing,
and any and all Proceeds of any insurance, indemnity, warranty or guaranty payable to the Borrower from time to time with respect
to any of the foregoing.

 

3.2        Notwithstanding
the foregoing, Collateral shall exclude (a) any property of Borrower as to which Lender has determined in its sole discretion that
the collateral value is insufficient to justify the difficulty, time and/or expense of obtaining a perfected security interest
therein, (b) any lease, license, contract or agreement to which Borrower is a party, and any of its rights or interests thereunder,
if and to the extent that a security interest therein is prohibited by or in violation of (x) any applicable law, or (y) a term,
provision or condition of any such lease, license, contract or agreement (unless in each case, such applicable law, term, provision
or condition would be rendered ineffective with respect to the creation of such security interest pursuant to Sections 9-406, 9-407,
9-408 or 9-409 of the UCC of any relevant jurisdiction or any other applicable law or principles of equity), provided, however,
that the foregoing shall cease to be treated as excluded collateral (and shall constitute Collateral) immediately at such time
as the contractual or legal prohibition shall no longer be applicable and to the extent severable, such security interest shall
attach immediately to any portion of such lease, license, contract or agreement not subject to the prohibitions specified in (x)
or (y) above, (c) any “intent to use” trademark applications for which a statement of use has not been filed (but only
until such statement is filed), and (d) more than 65% of the presently existing and hereafter arising issued and outstanding shares
of capital stock owned by Borrower of any Foreign Subsidiary which shares entitle the holder thereof to vote for directors or any
other matter; provided, further that excluded Collateral shall not include any proceeds of any excluded property
or any goodwill of Borrower’s business associated therewith or attributable thereto.

 

    - 9 - 

     

    

 

SECTION
4. CONDITIONS PRECEDENT TO LOAN

 

The obligations of
Lender to make the Loan hereunder are subject to the satisfaction by Borrower of the following conditions:

 

4.1          Initial
Advance. On or prior to the Closing Date, Borrower shall have delivered to Lender the following:

 

(a)       executed
originals of the Loan Documents, Account Control Agreements, and all other documents and instruments reasonably required by Lender
to effectuate the transactions contemplated hereby or to create and perfect the Liens of Lender with respect to all Collateral,
in all cases in form and substance reasonably acceptable to Lender;

 

(b)       certified
copy of resolutions of Borrower’s board of directors evidencing approval of (i) the Loan and other transactions evidenced
by the Loan Documents;

 

(c)       certified
copies of the Articles of Incorporation and the Bylaws, as amended through the Closing Date, of Borrower;

 

(d)       a
certificate of good standing for Borrower from its state of incorporation and similar certificates from all other jurisdictions
in which it does business and where the failure to be qualified would have a Material Adverse Effect; and

 

(e)       such
other documents as Lender may reasonably request.

 

4.2          All
Advances. On each Advance Date:

 

(a)       Lender
shall have received an Advance Request for the relevant Advance as required by 2.1(b), each duly executed by Borrower’s Chief
Executive Officer or Chief Financial Officer.

 

(b)       The
representations and warranties set forth in this Agreement and in Section 5 shall be true and correct in all material respects
on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations
and warranties expressly relate to an earlier date.

 

(c)      
At the time of and immediately after such Advance, no Default or Event of Default shall have occurred and be continuing.

 

    - 10 - 

     

    

 

(d)       Each
Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance Date as to the
matters specified in paragraphs (b) and (c) of this Section 4.2 and as to the matters set forth in the Advance Request.

 

4.3          No
Material Adverse Effect. As of the Closing Date and each Advance Date, no event that has had a Material Adverse Effect has
occurred and is continuing, as determined by Lender in its sole discretion.

 

SECTION
5. REPRESENTATIONS AND WARRANTIES OF BORROWER

 

Each Borrower represents
and warrants that:

 

5.1          Corporate
Status. Zev Ventures Incorporated is a corporation duly organized, legally existing and in good standing under the laws of
the State of Nevada. Ondas Networks Inc. is a corporation duly organized, legally existing and in good standing under the laws
of the State of Delaware, and is a wholly owned subsidiary of Ondas Holdings Inc. Each of Zev Ventures Incorporated and Ondas Networks
Inc. are duly qualified as a foreign corporation in all jurisdictions in which the nature of its business or location of its properties
require such qualifications and where the failure to be qualified could reasonably be expected to have a Material Adverse Effect.
Each Borrower’s present name, former names (if any), locations, place of formation, tax identification number, organizational
identification number and other information are correctly set forth in Exhibit C, as may be updated by Borrower in a written notice
provided to Lender after the Closing Date.

 

5.2          Collateral.
Borrower owns the Collateral, free of all Liens, except for Permitted Liens. Borrower has the power and authority to grant to Lender
a Lien in the Collateral as security for the Secured Obligations.

 

5.3          Consents.
Borrower’s execution, delivery and performance of this Agreement and all other Loan Documents, (i) have been duly authorized
by all necessary corporate action of Borrower, (ii) will not result in the creation or imposition of any Lien upon the Collateral,
other than Permitted Liens, (iii) do not violate any provisions of Borrower’s Articles of Incorporation, bylaws, or any,
law, regulation, order, injunction, judgment, decree or writ to which Borrower is subject and (iv) except as described on Schedule
5.3, do not violate any contract or agreement or require the consent or approval of any other Person which has not already been
obtained. The individual or individuals executing the Loan Documents are duly authorized to do so.

 

5.4          Material
Adverse Effect. No event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is
continuing. Borrower is not aware of any event likely to occur that is reasonably expected to result in a Material Adverse Effect.

 

5.5          Actions
Before Governmental Authorities. There are no actions, suits or proceedings at law or in equity or by or before any governmental
authority now pending or, to the knowledge of Borrower, threatened against or affecting Borrower or its property that is reasonably
expected to have a Material Adverse Effect.

 

5.6          Laws.
To its knowledge, Borrower is not in violation of any law, rule or regulation, or in default with respect to any judgment, writ,
injunction or decree of any governmental authority, where such violation or default is reasonably expected to result in a Material
Adverse Effect. Borrower is not in default in any manner under any provision of any agreement or instrument evidencing Indebtedness,
or any other material agreement to which it is a party or by which it is bound.

 

    - 11 - 

     

    

 

5.7           Information
Correct and Current. No information, report, Advance Request, financial statement, exhibit or schedule furnished, by or on
behalf of Borrower to Lender in connection with any Loan Document or included therein or delivered pursuant thereto contained,
contains or will contain (taken as a whole) any material misstatement of fact or omitted, omits or will omit to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they were, are or will be made, not
misleading at the time such statement was made or deemed made. Additionally, any and all financial or business projections provided
by Borrower to Lender, whether prior to or after the Closing Date, shall be (i) provided in good faith and based on the most current
data and information available to Borrower, and (ii) the most current of such projections provided to Borrower’s Board of
Directors.

 

5.8           Tax
Matters. Borrower represents that (a) Borrower has filed all federal and state income and other material tax returns that it
is required to file, (b) Borrower has duly paid or fully reserved for all taxes or installments thereof (including any interest
or penalties) as and when due, which have or may become due pursuant to such returns, and (c) Borrower has paid or fully reserved
for any tax assessment received by Borrower for the three (3) years preceding the Closing Date, if any (including any taxes being
contested in good faith and by appropriate proceedings).

 

5.9           Intellectual
Property Claims. Borrower is the sole owner of, or otherwise has the right to use, the Intellectual Property material and necessary
in the operation or conduct of Borrower’s business as currently conducted. Borrower represents that (i) each of the material
Copyrights, Trademarks and Patents is valid and enforceable, (ii) no material part of the Intellectual Property has been judged
invalid or unenforceable, in whole or in part, and (iii) no claim has been made to Borrower that any material part of the Intellectual
Property violates the rights of any third party. Exhibit D is a true, correct and complete list of each of Borrower’s Patents,
registered Trademarks, registered Copyrights, and material agreements under which Borrower licenses Intellectual Property from
third parties (other than shrink-wrap software licenses), together with application or registration numbers, as applicable, owned
by Borrower or any Subsidiary, in each case as of the Closing Date. Borrower is not in material breach of, nor has Borrower failed
to perform any material obligations under, any of the foregoing contracts, licenses or agreements and, to Borrower’s knowledge,
no third party to any such contract, license or agreement is in material breach thereof or has failed to perform any material obligations
thereunder.

 

5.10         Intellectual
Property. Borrower has, or in the case of any proposed business, will have, all material rights with respect to Intellectual
Property material and necessary in the operation or conduct of Borrower’s business as currently conducted. Without limiting
the generality of the foregoing, and in the case of Licenses, except for restrictions that are unenforceable under Division 9 of
the UCC, Borrower has the right, to the extent required to operate Borrower’s business, to freely transfer, license or assign
such Intellectual Property without condition, restriction or payment of any kind (other than license payments in the ordinary course
of business) to any third party, and Borrower owns or has the right to use, pursuant to valid licenses, all software development
tools, library functions, compilers and all other third-party software and other items that are used in the design, development,
promotion, sale, license, manufacture, import, export, use or distribution of Borrower Products.

 

5.11         Borrower
Products. No Intellectual Property owned by Borrower or Borrower Product, in each case, material and necessary in the operation
or conduct of the Borrower’s business as currently conducted has been or is subject to any actual or, to the knowledge of
Borrower, threatened litigation, proceeding (including any proceeding in the United States Patent and Trademark Office or any corresponding
foreign office or agency) or outstanding decree, order, judgment, settlement agreement or stipulation that restricts in any manner
Borrower’s use, transfer or licensing thereof or that may affect the validity, use or enforceability thereof. There is no
decree, order, judgment, agreement, stipulation, arbitral award or other provision entered into in connection with any litigation
or proceeding that obligates Borrower to grant licenses or ownership interest in any such Intellectual Property related to the
material and necessary in the operation or conduct of the business of Borrower or Borrower Products. Borrower has not received
any written notice or claim, or, to the knowledge of Borrower, oral notice or claim, challenging or questioning Borrower’s
ownership in any such Intellectual Property (or written notice of any claim challenging or questioning the ownership in any such
licensed Intellectual Property of the owner thereof) or suggesting that any third party has any claim of legal or beneficial ownership
with respect thereto nor, to Borrower’s knowledge, is there a reasonable basis for any such claim. To the knowledge of Borrower,
neither Borrower’s use of its Intellectual Property material and necessary to the operation and conduct of its Business nor
the production and sale of any material Borrower Products infringes the United States registered Intellectual Property.

 

    - 12 - 

     

    

 

5.12         Financial
Accounts. Exhibit E, as may be updated by the Borrower in a written notice provided to Lender after the Closing Date, is a
true, correct and complete list of (a) all banks and other financial institutions at which Borrower or any Subsidiary maintains
Deposit Accounts and (b) all institutions at which Borrower or any Subsidiary maintains an account holding Investment Property,
and such exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which
the account is held, a description of the purpose of the account, and the complete account number therefor.

 

5.13         Employee
Loans. Except for Permitted Investments, Borrower has no outstanding loans to any employee, officer or director of the Borrower
nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party.

 

5.14         Capitalization
and Subsidiaries. Borrower’s capitalization as of the Closing Date is set forth on Schedule 5.14 annexed hereto. Borrower
does not own any stock, partnership interest or other securities of any Person, except for Permitted Investments. Attached as Schedule
5.14, as may be updated by Borrower in a written notice provided after the Closing Date, is a true, correct and complete list of
each Subsidiary.

 

SECTION
6. INSURANCE; INDEMNIFICATION

 

6.1           Coverage.
Borrower shall cause to be carried and maintained commercial general liability insurance, on an occurrence form, against risks
customarily insured against in Borrower’s line of business. Such risks shall include the risks of bodily injury, including
death, property damage, personal injury, advertising injury, and contractual liability per the terms of the indemnification agreement
found in Section 6.3. Borrower must maintain a minimum of $2,000,000 of commercial general liability insurance for each
occurrence. Borrower has and agrees to maintain a minimum of $1,000,000 of directors’ and officers’ insurance for each
occurrence and $3,000,000 in the aggregate. So long as there are any Secured Obligations outstanding, Borrower shall also cause
to be carried and maintained insurance upon the Collateral, insuring against all risks of physical loss or damage howsoever caused,
in an amount not less than the full replacement cost of the Collateral, provided that such insurance may be subject to standard
exceptions and deductibles.

 

6.2           Certificates.
Borrower shall deliver to Lender certificates of insurance that evidence Borrower’s compliance with its insurance obligations
in Section 6.1 and the obligations contained in this Section 6.2. Borrower’s insurance certificate shall state
Lender is an additional insured for commercial general liability, a loss payee for all risk property damage insurance, subject
to the insurer’s approval, and a loss payee for property insurance and additional insured for liability insurance for any
future insurance that Borrower may acquire from such insurer. Attached to the certificates of insurance will be additional insured
endorsements for liability and lender’s loss payable endorsements for all risk property damage insurance. All certificates
of insurance will provide for a minimum of thirty (30) days advance written notice to Lender of cancellation or any other change
adverse to Lender’s interests. Any failure of Lender to scrutinize such insurance certificates for compliance is not a waiver
of any of Lender’s rights, all of which are reserved.

 

    - 13 - 

     

    

 

6.3          Indemnity.
Borrower agrees to indemnify and hold Lender and their officers, directors, employees, agents, in-house attorneys, representatives
and shareholders (each, an “Indemnified Person”) harmless from and against any and all claims, costs, expenses,
damages and liabilities (including such claims, costs, expenses, damages and liabilities based on liability in tort, including
strict liability in tort), including reasonable attorneys’ fees and disbursements and other costs of investigation or defense
(including those incurred upon any appeal) (collectively, “Liabilities”), that may be instituted or asserted against
such Indemnified Person by third parties as the result of credit having been extended, suspended or terminated under this Agreement
and the other Loan Documents or the administration of such credit, or in connection with or arising out of the transactions contemplated
hereunder and thereunder, or any actions or failures to act in connection therewith, or arising out of the disposition or utilization
of the Collateral, excluding in all cases Liabilities to the extent resulting from any Indemnified Person’s negligence, bad
faith or willful misconduct. Borrower agrees to pay, and to save Lender harmless from, any and all liabilities with respect to,
or resulting from any delay in paying, any and all excise, sales or other similar taxes that may be payable or determined to be
payable with respect to any of the Collateral or this Agreement. In no event shall any Party be liable on any theory of liability
for any special, indirect, consequential or punitive damages (including any loss of profits, business or anticipated savings).

 

6.4          Lender
Tax Certificates. Lender shall deliver to Borrower, on or prior to the Closing Date (and from time to time thereafter upon
the reasonable request of Borrower), duly completed, valid, and executed originals of IRS Form W-9 (or any successor form) certifying
that Lender, as applicable, is exempt from U.S. federal backup withholding tax.

 

SECTION
7. COVENANTS OF BORROWER

 

Each Borrower agrees
as follows:

 

7.1          Financial
Reports. Borrower shall furnish to Lender the financial statements and reports listed hereinafter (clauses (a)-(b) being referred
to as, the “Financial Statements”):

 

(a)       within
45 days after the end of each of the first three calendar quarters of each fiscal year of Borrower, unaudited interim and year-to-date
financial statements as of the end of such calendar quarter (prepared on a consolidated basis), including balance sheet and related
statements of income and cash flows, certified by Borrower’s Chief Executive Officer or Chief Financial Officer to the effect
that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes, and (ii) that they are subject to
normal year-end adjustments; as well as the most recent capitalization table for Borrower, including the weighted average exercise
price of employee stock options. This section 7.1(a) is only applicable until such time as Borrower completes the Underwritten
Public Offering. Once Borrower completes such Underwritten Public Offering, the financial statements herein shall be deemed as
sent to Lender immediately after they are duly filed with the appropriate governmental authorities;

 

(b)       within
ninety (90) days after the end of each fiscal year unqualified audited financial statements as of the end of such year (prepared
on a consolidated basis), including balance sheet and related statements of income and cash flows, and setting forth in comparative
form the corresponding figures for the preceding fiscal year, certified by RRBB Accountants and Advisors or such other firm of
independent certified public accountants selected by Borrower and reasonably acceptable to Lender, accompanied by any management
report from such accountants; provided that with respect to the audited financial statements for the fiscal year ending December
31, 2017, Lender acknowledges that such financial statements shall be permitted to contain a going concern qualification due to
the previously disclosed cash position of the Borrower. Once Borrower completes such Underwritten Public Offering, the financial
statements herein shall be deemed as sent to Lender immediately after they are duly filed with the appropriate governmental authorities;

 

    - 14 - 

     

    

 

(c)       Upon
request to Lender promptly after the sending or filing thereof, as the case may be, copies of any proxy statements, financial statements
or reports that Borrower has made available to holders of its Preferred Stock generally and copies of any regular, periodic and
special reports or registration statements that Borrower files with the Securities and Exchange Commission or any governmental
authority that may be substituted therefore, or any national securities exchange;

 

(d)       financial
and business projections promptly following their approval by Borrower’s Board of Directors; and

 

(e)       such
other financial information reasonably requested by Lender.

 

Borrower shall not (without the consent
of Lender, such consent not to be unreasonably withheld or delayed), make any change in its (a) accounting policies or reporting
practices, except as required by GAAP or (b) fiscal years or fiscal quarters. The fiscal year of Borrower shall end on December
31.

 

The
financial information required to be delivered pursuant to clauses (a) and (b) shall be sent via e-mail to Lender provided, that
if e-mail is not available or sending such documents via e-mail is not possible, they shall be sent via overnight courier (FedEx
or UPS) to Lender at Lender’s address.

 

7.2          Management
Rights. Borrower shall permit any representative that Lender authorizes, including its attorneys and accountants (but in no
event shall any representative be an employee or an agent of a competitor of Borrower), to inspect the Collateral and examine and
make copies and abstracts of the books of account and records of Borrower at reasonable times and upon reasonable notice during
normal business hours. The Lenders shall, collectively, be limited to two (2) such inspections and audit per calendar year so long
as no Event of Default exists, and thereafter without limit, which shall each be at Borrower’s expense, in an amount not
to exceed the reasonable and customary amounts for audits and inspections administered or conducted pursuant to this Section
7.2. In addition, any such representative shall have the right to meet with management and officers of Borrower to discuss
such books of account and records. In addition, Lender shall be entitled at reasonable times and intervals to consult with and
advise the management and officers of Borrower concerning significant business issues affecting Borrower. Such consultations shall
not unreasonably interfere with Borrower’s business operations. The parties intend that the rights granted Lender shall constitute
“management rights” within the meaning of 29 C.F.R Section 2510.3-101(d)(3)(ii), but that any advice, recommendations
or participation by Lender with respect to any business issues shall not be deemed to give Lender, nor be deemed an exercise by
Lender of, control over Borrower’s management or policies.

 

7.3          Further
Assurances. Borrower shall from time to time execute, deliver and file, alone or with Lender, any financing statements, security
agreements, collateral assignments, notices, control agreements, or other documents to perfect or give the highest priority to
Lender’s Lien (subject to Permitted Liens) on the Collateral. Borrower shall from time to time procure any instruments or
documents as may be reasonably requested by Lender to perfect and protect the Liens granted hereby and thereby. In addition, and
for such purposes only if Borrower fails to timely respond, Borrower hereby authorizes Lender to execute and deliver on behalf
of Borrower and to file such financing statements, collateral assignments, notices, control agreements, security agreements and
other documents without the signature of Borrower either in Lender’s name or in the name of Lender as agent and attorney-in-fact
for Borrower. Borrower shall protect and defend Borrower’s title to the Collateral and Lender’s Lien thereon against
all Persons claiming any interest adverse to Borrower or Lender other than Permitted Liens.

 

    - 15 - 

     

    

 

7.4           Indebtedness.
Without prior written consent of Lender, Borrower shall not create, incur, assume, guarantee or be or remain liable with respect
to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness, or prepay any Indebtedness or take any
actions which impose on Borrower an obligation to prepay any Indebtedness, except for (i) the conversion of Indebtedness into equity
securities and the payment of cash in lieu of fractional shares in connection with such conversion and (ii) unsecured Indebtedness
constituting indemnification obligations of Borrower arising under Borrower’s charter documents. Any and all Indebtedness
shall be subordinate to Lender under this Loan and Security Agreement. In the event Lender permits a new debt under this Section,
Borrower shall provide any and all documents associated with such debt to Lender.

 

7.5           Collateral.
Borrower shall at all times keep the Collateral and all other property and assets used in Borrower’s business or in which
Borrower now or hereafter holds any interest free and clear from any legal process or Liens whatsoever (except for Permitted Liens),
and shall give Lender prompt written notice of any legal process affecting the Collateral, such other property and assets, or any
Liens thereon, provided however, that the Collateral and such other property and assets may be subject to Permitted Liens except
that there shall be no Liens whatsoever on Intellectual Property material and necessary to the Borrower’s operations or conduct
of its business as currently conducted except as disclosed in Ondas FS. Borrower shall cause its Subsidiaries to protect and defend
such Subsidiary’s title to its assets from and against all Persons claiming any interest adverse to such Subsidiary, and
Borrower shall cause its Subsidiaries at all times to keep such Subsidiary’s property and assets free and clear from any
legal process or Liens whatsoever (except for Permitted Liens, provided however, that there shall be no Liens whatsoever on Intellectual
Property material and necessary to the Borrower’s operations or conduct of its business as currently conducted), and shall
give Lender prompt written notice of any legal process affecting such Subsidiary’s assets. Borrower shall not agree with
any Person other than Lender not to encumber its property other than with respect to Permitted Liens.

 

7.6           Investments.
Borrower shall not directly or indirectly acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries
so to do, other than Permitted Investments.

 

7.7           Distributions.
Except for Permitted Investments, Borrower shall not, and shall not allow any Subsidiary to, (a) repurchase or redeem any class
of stock or other equity interest other than pursuant to employee, director or consultant repurchase plans or other similar agreements,
provided, however, in each case the repurchase or redemption price does not exceed the original consideration paid for such stock
or equity interest, or (b) declare or pay any cash dividend or make a cash distribution on any class of stock or other equity interest,
except that a Subsidiary may pay dividends or make distributions to Borrower, or (c) lend money to any employees, officers or directors
or guarantee the payment of any such loans granted by a third party in excess of $100,000 in the aggregate or (d) waive, release
or forgive any Indebtedness owed by any employees, officers or directors in excess of $100,000 in the aggregate.

 

7.8           Transfers.
Except for Permitted Transfers, Borrower shall not voluntarily or involuntarily transfer, sell, lease, license, lend or in any
other manner convey any equitable, beneficial or legal interest in any material portion of its assets.

 

7.9           Mergers
or Acquisitions. Borrower shall not merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or
into any other business organization (other than mergers or consolidations of (a) a Subsidiary which is not a Borrower into another
Subsidiary or into Borrower or (b) a Borrower into another Borrower), or acquire, or permit any of its Subsidiaries to acquire,
all or substantially all of the capital stock or property of another Person.

 

    - 16 - 

     

    

 

7.10         Taxes.
Except for Excluded Taxes, Borrower and its Subsidiaries shall pay when due all taxes, fees or other charges of any nature whatsoever
(together with any related interest or penalties) now or hereafter imposed or assessed against Borrower, Lender or the Collateral
or upon Borrower’s ownership, possession, use, operation or disposition thereof or upon Borrower’s rents, receipts
or earnings arising therefrom. Borrower shall file on or before the due date therefor all personal property tax returns in respect
of the Collateral. Notwithstanding the foregoing, Borrower may contest, in good faith and by appropriate proceedings, taxes for
which Borrower maintains adequate reserves therefor in accordance with GAAP.

 

7.11         Corporate
Changes. Neither Borrower nor any Subsidiary shall change its corporate name, legal form or jurisdiction of formation without
ten (10) days’ prior written notice to Lender. The Lender acknowledges that Borrower is in the process of changing its name
to Ondas Holdings Inc. Neither Borrower nor any Subsidiary shall suffer a Change in Control. Neither Borrower nor any Subsidiary
shall relocate its chief executive office or its principal place of business unless: (i) it has provided prior written notice to
Lender; and (ii) such relocation shall be within the continental United States. Neither Borrower nor any Subsidiary shall relocate
any item of Collateral (other than (x) sales of Inventory in the ordinary course of business, (y) relocations of Equipment having
an aggregate value of up to $150,000 in any fiscal year, and (z) relocations of Collateral from a location described on Exhibit
C to another location described on Exhibit C) unless (i) it has provided prompt written notice to Lender, (ii) such relocation
is within the continental United States and, (iii) if such relocation is to a third party bailee, it has delivered a bailee agreement
in form and substance reasonably acceptable to Lender.

 

7.12         Deposit
Accounts. Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property,
except with respect to which Lender has an Account Control Agreement or as shown on Exhibit E.

 

7.13         New
Subsidiaries. Borrower shall notify Lender of each Subsidiary formed subsequent to the Closing Date and, within 15 days of
formation, shall cause any such Domestic Subsidiary to execute and deliver to Lender a Joinder Agreement.

 

7.14         Notification
of Event of Default. Borrower shall notify Lender within five (5) Business Days of the occurrence of any Event of Default,
such notice to be sent via facsimile to Lender.

 

SECTION
8. EVENTS OF DEFAULT

 

The occurrence of any
one or more of the following events shall be an Event of Default:

 

8.1           Payments.
Borrower fails to pay any amount due under this Agreement or any of the other Loan Documents within five (5) Business Days of the
due date; or

 

8.2           Covenants.
Borrower breaches or defaults in any material respect in the performance of any covenant or Secured Obligation under this Agreement,
or any of the other Loan Documents, and (a) with respect to a default under any covenant under this Agreement (other than under
Sections 6 and 7.4, 7.5, 7.6, 7.7 ,7.8, 7.9, and 7.14), any other Loan Document or any other agreement among
Borrower and Lender, such default continues for more than thirty (30) days after the earlier of the date on which (i) Lender has
given notice of such default to Borrower and (ii) Borrower has actual knowledge of such default or (b) with respect to a default
under any of Sections 6 and 7.4, 7.5, 7.6, 7.7 ,7.8, 7.9, and 7.14, the occurrence of such default; or

 

    - 17 - 

     

    

 

8.3           Material
Adverse Effect. A circumstance has occurred that results in a Material Adverse Effect; or

 

8.4           Representations.
Any representation or warranty made by Borrower in any Loan Document or in the Warrant shall have been false or misleading in any
material respect; or

 

8.5           Insolvency.
Borrower (A) (i) shall make an assignment for the benefit of creditors; or (ii) shall admit in writing its inability to pay its
debts as they become due, or be unable to pay or perform under the Loan Documents,; or (iii) shall file a voluntary petition in
bankruptcy; or (iv) shall file any petition, answer, or document seeking for itself any reorganization, arrangement, composition,
readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation pertinent to such
circumstances; or (v) shall seek or consent to or acquiesce in the appointment of any trustee, receiver, or liquidator of Borrower
or of all or any substantial part (i.e., 33-1/3% or more) of the assets or property of Borrower; or (vi) shall cease operations
of its business as its business has normally been conducted, or terminate substantially all of its employees; or (vii) Borrower
or its directors or majority shareholders shall take any action initiating any of the foregoing actions described in clauses (i)
through (vi); or (B) either (i) ninety (90) days shall have expired after the commencement of an involuntary action against Borrower
seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or
future statute, law or regulation, without such action being dismissed or all orders or proceedings thereunder affecting the operations
or the business of Borrower being stayed; or (ii) a stay of any such order or proceedings shall thereafter be set aside and the
action setting it aside shall not be timely appealed; or (iii) Borrower shall file any answer admitting or not contesting the material
allegations of a petition filed against Borrower in any such proceedings; or (iv) the court in which such proceedings are pending
shall enter a decree or order granting the relief sought in any such proceedings; or (v) sixty (60) days shall have expired after
the appointment, without the consent or acquiescence of Borrower, of any trustee, receiver or liquidator of Borrower or of all
or any substantial part of the properties of Borrower without such appointment being vacated; or

 

8.6           Attachments;
Judgments. Any portion of Borrower’s assets is attached or seized, or a levy is filed against any such assets, or a judgment
or judgments (which is/are not covered by available insurance) is/are entered for the payment of money, individually or in the
aggregate, of at least $750,000 and such judgment is not paid, vacated or dismissed within ninety (90) days of the entry thereof,
or Borrower is enjoined or in any way prevented by court order from conducting any material part of its business; or

 

8.7           Other
Obligations. The occurrence of any default under any agreement or obligation of Borrower involving any Indebtedness in excess
of $750,000, and such default shall have not been waived.

 

SECTION
9. REMEDIES

 

9.1           General.
Upon and during the continuance of any one or more Events of Default, (i) Lender may, at its option, accelerate and demand payment
of all or any part of the Secured Obligations together with the End of Term Charge and declare them to be immediately due and payable
(provided, that upon the occurrence of an Event of Default of the type described in Section 8.5, all of the Secured Obligations
shall automatically be accelerated and made due and payable, in each case without any further notice or act), (ii) Lender may,
at its option, sign and file in Borrower’s name any and all collateral assignments, notices, control agreements, security
agreements and other documents it deems necessary or appropriate to perfect the Lien in the Collateral to secure repayment of the
Secured Obligations, and in furtherance thereof, Borrower hereby grants Lender an irrevocable power of attorney coupled with an
interest, and (iii) Lender may notify any of Borrower’s account debtors to make payment directly to Lender, compromise the
amount of any such account on Borrower’s behalf and endorse Lender’s name without recourse on any such payment for
deposit directly to Lender’s account. Lender may exercise all rights and remedies with respect to the Collateral under the
Loan Documents or otherwise available to it under the UCC and other applicable law, including the right to release, hold, sell,
lease, liquidate, collect, realize upon, or otherwise dispose of all or any part of the Collateral and the right to occupy, utilize,
process and commingle the Collateral. All Lender’s rights and remedies shall be cumulative and not exclusive.

 

    - 18 - 

     

    

 

9.2           Collection;
Foreclosure. Upon the occurrence and during the continuance of any Event of Default, Lender may, at any time or from time to
time, apply, collect, liquidate, sell in one or more sales, lease or otherwise dispose of, any or all of the Collateral, in its
then condition or following any commercially reasonable preparation or processing, in such order as Lender may elect. Any such
sale may be made either at public or private sale at its place of business or elsewhere. Borrower agrees that any such public or
private sale may occur upon ten (10) calendar days’ prior written notice to Borrower. Lender may require Borrower to assemble
the Collateral and make it available to Lender at a place designated by Lender that is reasonably convenient to Lender and Borrower.
The proceeds of any sale, disposition or other realization upon all or any part of the Collateral shall be applied by Lender in
the following order of priorities:

 

First, to Lender
in an amount sufficient to pay in full Lender’s costs and professionals’ fees and expenses as described in Section
10.11;

 

Second, to
Lender in an amount equal to the then unpaid amount of the Secured Obligations (including principal, interest, and the Default
Interest), in such order and priority as Lender may choose in its sole discretion; and

 

Finally, after
the full, final, and indefeasible payment in Cash of all of the Secured Obligations, to any creditor holding a junior Lien on the
Collateral, or to Borrower or its representatives or as a court of competent jurisdiction may direct.

 

Lender shall be deemed to have acted reasonably
in the custody, preservation and disposition of any of the Collateral if it complies with the obligations of a secured party under
the UCC.

 

9.3           No
Waiver. Lender shall be under no obligation to marshal any of the Collateral for the benefit of Borrower or any other Person,
and Borrower expressly waives all rights, if any, to require Lender to marshal any Collateral.

 

9.4           Cumulative
Remedies. The rights, powers and remedies of Lender hereunder shall be in addition to all rights, powers and remedies given
by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein
shall not be construed as a waiver of or election of remedies with respect to any other rights, powers and remedies of Lender.

 

9.5           The
Lender shall not deliver any Activation Notice as defined in the Account Control Agreement prior to an Event of Default; however,
Borrower must receive prior approval from Lender to make a withdrawal for any amount greater than $100,000.00, from any accounts
referenced in the Account Control Agreement.

 

    - 19 - 

     

    

  

SECTION
10. MISCELLANEOUS

 

10.1        Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be prohibited by or invalid under such law, such provision shall be ineffective
only to the extent and duration of such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Agreement.

 

10.2        Notice.
Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or other communication
(including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with
respect to the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and
received upon the earlier of: (i) the day of transmission by facsimile or hand delivery or delivery by an overnight express service
or overnight mail delivery service; or (ii) the third calendar day after deposit in the United States mails, with proper first
class postage prepaid, in each case addressed to the party to be notified as follows:

 

(a)           If
to Lender: 

ENERGY
CAPITAL, LLC

Attention: Robert J. Smith, Managing Member

13650 Fiddlesticks Blvd., Suite 202-324

Ft. Myers, FL 33912

 

(b)           If
to Borrower: 

ZEV
VENTURES INCORPORATED 

Attention:
Eric Brock, CEO 

687
N Pastoria Ave. 

Sunnyvale, CA 94085

 

or to such other address
as each party may designate for itself by like notice.

 

10.3        Entire
Agreement; Amendments.

 

(a)           This
Agreement and the other Loan Documents constitute the entire agreement and understanding of the parties hereto in respect of the
subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, non-disclosure
or confidentiality agreements, letters, negotiations or other documents or agreements, whether written or oral, with respect to
the subject matter hereof or thereof.

 

(b)           Neither
this Agreement, any other Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified except in writing
executed by Lender and Borrower.

 

10.4        No
Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the
event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the
parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Agreement.

 

10.5        No
Waiver. The powers conferred upon Lender by this Agreement are solely to protect its rights hereunder and under the other Loan
Documents and its interest in the Collateral and shall not impose any duty upon Lender to exercise any such powers. No omission
or delay by Lender at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants
or provisions hereof by Borrower at any time designated, shall be a waiver of any such right or remedy to which Lender is entitled,
nor shall it in any way affect the right of Lender to enforce such provisions thereafter.

 

    - 20 - 

     

    

 

10.6         Survival.
All agreements, representations and warranties contained in this Agreement and the other Loan Documents or in any document delivered
pursuant hereto or thereto shall be for the benefit of Lender and shall survive the execution and delivery of this Agreement and
the expiration or other termination of this Agreement.

 

10.7         Successors
and Assigns. The provisions of this Agreement and the other Loan Documents shall inure to the benefit of and be binding on
Borrower and its permitted assigns (if any). Subject to Section 10.13, Borrower shall not assign its obligations under this Agreement
or any of the other Loan Documents without Lender’s express prior written consent, and any such attempted assignment shall
be void and of no effect. Subject to Section 10.13, Lender may assign, transfer, or endorse its rights hereunder and under the
other Loan Documents without prior notice to Borrower, and all of such rights shall inure to the benefit of Lender’s successors
and assigns.

 

10.8         Governing
Law. This Agreement and the other Loan Documents have been negotiated and delivered to Lender in the State of Florida, and
shall have been accepted by Lender in the State of Florida. Payment to Lender by Borrower of the Secured Obligations is due in
the State of Florida. This Agreement and the other Loan Documents shall be governed by, and construed and enforced in accordance
with, the laws of the State of Florida, excluding conflict of laws principles that would cause the application of laws of any other
jurisdiction.

 

10.9         Consent
to Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Agreement or any of the other Loan
Documents may be brought in any state or federal court located in the State of Florida. By execution and delivery of this Agreement,
each party hereto generally and unconditionally: (a) consents to nonexclusive personal jurisdiction in Lee County, Florida; (b)
waives any objection as to jurisdiction or venue in Lee County, Florida; (c) agrees not to assert any defense based on lack of
jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection
with this Agreement or the other Loan Documents. Service of process on any party hereto in any action arising out of or relating
to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 10.2,
and shall be deemed effective and received as set forth in Section 10.2. Nothing herein shall affect the right to serve
process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any
other jurisdiction.

 

10.10       Mutual
Waiver of Jury Trial. Because disputes arising in connection with complex financial transactions are most quickly and economically
resolved by an experienced and expert Person and the parties wish applicable state and federal laws to apply (rather than arbitration
rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF BORROWER, LENDER SPECIFICALLY
WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY
OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY BORROWER AGAINST LENDER OR THEIR RESPECTIVE ASSIGNEE OR BY LENDER
OR THEIR RESPECTIVE ASSIGNEE AGAINST BORROWER. This waiver extends to all such Claims, including Claims that involve Persons other
than Borrower and Lender; Claims that arise out of or are in any way connected to the relationship among Borrower and Lender; and
any Claims for damages, breach of contract, tort, specific performance, or any equitable or legal relief of any kind, arising out
of this Agreement, any other Loan Document.

 

    - 21 - 

     

    

 

10.11       Professional
Fees. Borrower promises to pay any and all reasonable and documented attorneys’ and other professionals’ fees and
expenses (including, without duplication, fees and expenses of in-house counsel) incurred by Lender after the Closing Date in connection
with or related to: (a) the administration, collection, or enforcement of the Loan; (b) the amendment or modification of the Loan
Documents; (c) any waiver, consent, release, or termination under the Loan Documents; (d) the protection, preservation, audit,
field exam, sale, lease, liquidation, or disposition of Collateral or the exercise of remedies with respect to the Collateral;
(e) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or related to Borrower or
the Collateral, and any appeal or review thereof; and (f) any bankruptcy, restructuring, reorganization, assignment for the benefit
of creditors, workout, foreclosure, or other action related to Borrower, the Collateral, the Loan Documents, including representing
Lender in any adversary proceeding or contested matter commenced or continued by or on behalf of Borrower’s estate, and any
appeal or review thereof.

 

10.12       Confidentiality.
Lender acknowledges that certain items of Collateral and information provided to Lender by Borrower are confidential and proprietary
information of Borrower, if and to the extent such information either (x) is marked as confidential by Borrower at the time of
disclosure, or (y) should reasonably be understood to be confidential (the “Confidential Information”). Accordingly,
Lender agrees that any Confidential Information it may obtain in the course of acquiring, administering, or perfecting Lender’s
security interest in the Collateral shall not be disclosed to any other Person or entity in any manner whatsoever, in whole or
in part, without the prior written consent of Borrower, except that Lender may disclose any such information: (a) to its own directors,
officers, employees, accountants, counsel and other professional advisors and to its affiliates if Lender in its sole discretion
determines that any such party should have access to such information in connection with such party’s responsibilities in
connection with the Loan or this Agreement and, provided that such recipient of such Confidential Information either (i) agrees
to be bound by the confidentiality provisions of this paragraph or (ii) is otherwise subject to confidentiality restrictions that
reasonably protect against the disclosure of Confidential Information; (b) if such information is generally available to the public;
(c) if required or appropriate in any report, statement or testimony submitted to any governmental authority having or claiming
to have jurisdiction over Lender; (d) if required or appropriate in response to any summons or subpoena or in connection with any
litigation, to the extent permitted or deemed advisable by Lender’s counsel; provided that to the extent permitted by applicable
law, Lender shall promptly provide Borrower notice thereof to permit Borrower the opportunity to take action to maintain confidentiality
of such information; (e) to comply with any legal requirement or law applicable to Lender; (f) to the extent reasonably necessary
in connection with the exercise of any right or remedy under any Loan Document, including Lender’s sale, lease, or other
disposition of Collateral after the occurrence and continuance of an Event of Default; (g) to any permitted participant or assignee
of Lender or any prospective participant or assignee; provided, that such participant or assignee or prospective participant or
assignee agrees in writing to be bound by this Section prior to disclosure; or (h) otherwise with the prior consent of Borrower;
provided, that any disclosure made in violation of this Agreement shall not affect the obligations of Borrower or any of its affiliates
or any guarantor under this Agreement or the other Loan Documents.

 

10.13       Assignment
of Rights. Borrower acknowledges and understands that Lender may sell and assign all or part of its interest hereunder and
under the Loan Documents to any Person or entity other than a competitor of Borrower or any Person controlling such competitor
(an “Assignee”); provided that so long as no Event of Default exists any such assignment shall require the prior
written consent of Borrower (which consent shall not be unreasonably withheld, delayed or conditioned). After such assignment the
term “Lender” as used in the Loan Documents shall mean and include such Assignee, and such Assignee shall be vested
with all rights, powers and remedies of Lender hereunder with respect to the interest so assigned; but with respect to any such
interest not so transferred, Lender shall retain all rights, powers and remedies hereby given. No such assignment by Lender shall
relieve Borrower of any of its obligations hereunder. Lender agrees that in the event of any transfer by it of the Note(s)(if any),
it will endorse thereon a notation as to the portion of the principal of the Note(s), which shall have been paid at the time of
such transfer and as to the date to which interest shall have been last paid thereon.

 

    - 22 - 

     

    

 

10.14       Revival
of Secured Obligations. This Agreement and the Loan Documents shall remain in full force and effect and continue to be effective
if any petition is filed by or against Borrower for liquidation or reorganization, if Borrower becomes insolvent or makes an assignment
for the benefit of creditors, if a receiver or trustee is appointed for all or any significant part of Borrower’s assets,
or if any payment or transfer of Collateral is recovered from Lender. The Loan Documents and the Secured Obligations and Collateral
security shall continue to be effective, or shall be revived or reinstated, as the case may be, if at any time payment and performance
of the Secured Obligations or any transfer of Collateral to Lender, or any part thereof is rescinded, avoided or avoidable, reduced
in amount, or must otherwise be restored or returned by, or is recovered from, Lender or by any obligee of the Secured Obligations,
whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment,
performance, or transfer of Collateral had not been made. In the event that any payment, or any part thereof, is rescinded, reduced,
avoided, avoidable, restored, returned, or recovered, the Loan Documents and the Secured Obligations shall be deemed, without any
further action or documentation, to have been revived and reinstated except to the extent of the full, final, and indefeasible
payment to Lender in Cash.

 

10.15       Counterparts.
This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, and by
different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which
counterparts shall constitute but one and the same instrument.

 

10.16       No
Third Party Beneficiaries. No provisions of the Loan Documents are intended, nor will be interpreted, to provide or create
any third-party beneficiary rights or any other rights of any kind in any Person other than Lender and Borrower unless specifically
provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan Documents will be personal and solely
among the Lender and the Borrower.

 

10.17       Publicity.

 

(a)           Borrower
consents to the publication and use by Lender and any of its member businesses and affiliates of (i) Borrower’s name (including
a brief description of the relationship among Borrower and Lender) and logo and a hyperlink to Borrower’s web site, separately
or together, in written and oral presentations, advertising, promotional and marketing materials, client lists, public relations
materials or on its web site (together, the “Lender Publicity Materials”); (ii) the names of officers of Borrower in
the Lender Publicity Materials; and (iii) Borrower’s name, trademarks or servicemarks in any news release concerning Lender.

 

(b)           Lender
consents to the publication and use by Borrower and any of its Subsidiaries of (i) Lender’s name (including a brief description
of the relationship among Borrower and Lender), separately or together, in written and oral presentations, advertising, promotional
and marketing materials, client lists, public relations materials or on its web site (together, the “Borrower Publicity Materials”);
(ii) the names of officers of Lender in the Borrower Publicity Materials; and (iii) Lender’s name in any news release or
filings required pursuant to the Exchange Act of 1934 concerning Borrower.

 

    - 23 - 

     

    

 

10.18        Termination
of Security Interest. Upon the payment in full of all Secured Obligations, the security
interest granted herein shall terminate and all rights to the Collateral shall revert to Company and the Lender shall as soon
as reasonably possible following such termination deliver a Termination of Deposit Account Control Agreement in respect
of all Deposit Accounts. Upon such termination, Lender hereby authorizes Company to file
any UCC termination statements necessary to effect such termination and Lender will execute and deliver to Company any additional
documents or instruments as Company shall reasonably request to evidence such termination. 

 

(SIGNATURES TO FOLLOW)

 

    - 24 - 

     

    

 

IN WITNESS WHEREOF,
Borrower and Lender have duly executed and delivered this Loan and Security Agreement as of the day and year first above written.

 

	 	BORROWER:
	 	 	 
	 	ZEV VENTURES INCORPORATED
	 	 	 
	 	By:	/s/ Eric
    Brock
	 	 	Eric Brock, Chief Executive Officer
	 	 	 
	 	LENDER:
	 	 
	 	ENERGY CAPITAL, LLC
	 	 	 
	 	By:	/s/ Robert
    J. Smith
	 	 	Robert J. Smith, Managing Member

 

    - 25 - 

     

    

 

Table of Addenda, Exhibits and Schedules

 

	Exhibit A:	Advance Request 
	 	Attachment to Advance Request
	 	 
	Exhibit B:	Secured Term Promissory Note
	 	 
	Exhibit C:	Name, Locations, and Other Information for Borrower
	 	 
	Exhibit D:	Borrower’s Patents, Trademarks, Copyrights and Licenses
	 	 
	Exhibit E:	Borrower’s Deposit Accounts and Investment Accounts
	 	 
	Exhibit F:	Joinder Agreement
	 	 
	Exhibit G:	ACH Debit Authorization Agreement
	 	 
	Schedule 1	Subsidiaries
	Schedule 1A	Existing Permitted Liens
	Schedule 5.3	Consents
	Schedule 5.14	Capitalization

 

    - 26 - 

     

    

  

EXHIBIT
A

 

ADVANCE
REQUEST

 

	To:      Lender:	Date:    _____________, 20__

  

Energy Capital, LLC 

Attn: Robert J. Smith, Managing Member 

13650 Fiddlesticks Blvd., Suite 202-324 

Ft. Myers, FL 33912 

 

Zev Ventures Incorporated. (“Borrower”)
hereby requests from Energy Capital, LLC (“Lender”) an Advance in the amount of One Million Dollars ($1,000,000.00)
on _________, 20___ (the “Advance Date”) pursuant to the Loan and Security Agreement among Borrower and Lender (the
“Agreement”). Capitalized words and other terms used but not otherwise defined herein are used with the same meanings
as defined in the Agreement.

 

Please:

 

		(a)	Issue a check payable to Borrower        ________

 

or

 

		(b)	Wire Funds to Borrower’s account        ________

 

Bank:

 

Address:

ABA Number:

 

Account
Number:

 

Account
Name:

 

Borrower represents
that the conditions precedent to the Advance set forth in the Agreement are satisfied and shall be satisfied upon the making of
such Advance, including but not limited to: (i) that no event that has had a Material Adverse Effect has occurred and is continuing;
(ii) that the representations and warranties set forth in the Agreement are and shall be true and correct in all material respects
on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations
and warranties expressly relate to an earlier date; (iii) that Borrower is in compliance in all material respects with all the
terms and provisions set forth in each Loan Document on its part to be observed or performed; and (iv) that as of the Advance Date,
no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event
of Default under the Loan Documents. Borrower understands and acknowledges that Lender has the right to review the financial information
supporting this representation and, based upon such review in its sole discretion, Lender may decline to fund the requested Advance.

 

    - 27 - 

     

    

 

Borrower hereby represents
that Borrower’s corporate status and locations have not changed since the date of the Agreement or, if the Attachment to
this Advance Request is completed, are as set forth in the Attachment to this Advance Request.

 

Borrower agrees to
notify Lender promptly before the funding of the Loan if any of the matters which have been represented above shall not be true
and correct on the Borrowing Date and if Lender has received no such notice before the Advance Date then the statements set forth
above shall be deemed to have been made and shall be deemed to be true and correct as of the Advance Date.

 

Executed as of _________________,
20__. 

	 	 	 
	 	BORROWER:
	 	 	 
	 	ZEV VENTURES INCORPORATED
	 	 	 
	 	By:	 
	 	 	Eric Brock, Chief Executive Officer

 

    - 28 - 

     

    

 

ATTACHMENT
TO ADVANCE REQUEST 

 

Dated: _____________,
20___ 

 

Borrower hereby represents and warrants
to Lender that Borrower’s current name and organizational status is as follows: 

 

	Name:	Zev Ventures Incorporated.
	 	 
	Type of organization:	Corporation
	 	 
	State of organization:	Nevada
	 	 
	Entity number:	E0640082014-2

  

Borrower hereby represents and warrants
to Lender that the street addresses, cities, states and postal codes of its current locations are as follows: 

 

ZEV VENTURES INCORPORATED 

Attention: Eric Brock,
CEO 

687 N Pastoria Ave. 

Sunnyvale, CA 94085 

Telephone: (650) 743-8945

 

    - 29 - 

     

    

 

EXHIBIT
B

 

SECURED
TERM PROMISSORY NOTE

 

	$10,000,000	 Advance Date: ___________, 20__
	 	 
	 	 Maturity Date: September 30, 2019

 

FOR VALUE RECEIVED,
Zev Ventures Incorporated, a Nevada corporation, for itself and each of its Subsidiaries (the “Borrower”) hereby promises
to pay to the order of Energy Capital, LLC, a Florida limited liability company, or the holder of this Note (the “Lender”)
at Lender’s address listed in Loan Agreement, or such other place of payment as the holder of this Secured Term Promissory
Note (this “Promissory Note”) may specify from time to time in writing, in lawful money of the United States of America,
the principal amount of Ten Million Dollars $10,000,000) or such lesser principal amount as Lender has advanced to Borrower, together
with interest as set forth in that certain Loan and Security Agreement dated October 1, 2018, by and among Borrower, its Domestic
Subsidiaries party thereto and Lender (as the same may from time to time be amended, modified or supplemented in accordance with
its terms, the “Loan Agreement”).

 

This Promissory Note
is the Term Note referred to in, and is executed and delivered in connection with, the Loan Agreement, and is entitled to the benefit
and security of the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement), to which reference is made
for a statement of all of the terms and conditions thereof. All payments shall be made in accordance with the Loan Agreement. All
terms defined in the Loan Agreement shall have the same definitions when used herein, unless otherwise defined herein. An Event
of Default under the Loan Agreement shall constitute an Event of Default under this Promissory Note.

 

Borrower waives presentment
and demand for payment, notice of dishonor, protest and notice of protest under the UCC or any applicable law. Borrower agrees
to make all payments under this Promissory Note without setoff, recoupment or deduction and regardless of any counterclaim or defense.
This Promissory Note has been negotiated and delivered to Lender and is payable in the State of Florida. This Promissory Note shall
be governed by and construed and enforced in accordance with, the laws of the State of Florida, excluding any conflicts of law
rules or principles that would cause the application of the laws of any other jurisdiction.

 

BORROWER FOR ITSELF AND ON BEHALF OF ITS
SUBSIDIARIES: 

 

	 	ZEV VENTURES INCORPORATED
	 	 	 
	 	By:	 
	 	Eric Brock, Chief Executive Officer

  

     

     

    

 

EXHIBIT C

 

NAME, LOCATIONS,
AND OTHER INFORMATION FOR BORROWER

 

1. Borrower represents
and warrants to Lender that Borrower’s current name and organizational status as of the Closing Date is as follows:

 

	 	Name:    ZEV VENTURES INCORPORATED
	 	 
	 	Type of organization:   Corporation
	 	 
	 	State of organization:   Nevada
	 	 
	 	Organization file number:
    E0640082014-2

  

2. Borrower represents
and warrants to Lender that for five (5) years prior to the Closing Date, Borrower did not do business under any other name or
organization or form except the following:

 

Name:

Used during dates of: 

Type of Organization: 

State of organization: 

Organization file Number:  

Borrower’s fiscal year ends on December 31

Borrower’s federal employer tax identification number is:

 

3.
Borrower represents and warrants to Lender that its principal place of business is located at 687 N Pastoria Ave., Sunnyvale,
CA 94085.

 

     

     

    

EXHIBIT
D

 

BORROWER’S
PATENTS, TRADEMARKS, COPYRIGHTS AND LICENSES 

 

     

     

    

 

EXHIBIT
E

 

BORROWER’S
DEPOSIT ACCOUNTS AND INVESTMENT ACCOUNTS 

 

Business Checking Account

 

Bank: 

Address:  

 

ABA Number:  

Account Number:  

Account Name:   

 

Business Savings Account

 

ONDAS NETWORKS INC.

 

Bank:  

Address:  

 

Account number:  

 

For Direct Deposit use 

Routing Number (RTN): 

 

For Wire Transfers use 

Routing Number (RTN):

 

     

     

    

  

EXHIBIT
G

 

FORM OF
JOINDER AGREEMENT

 

This Joinder Agreement
(the “Joinder Agreement”) is made and dated as of _______________, 20___, and is entered into by and between Ondas
Networks Inc., a Delaware corporation (“Subsidiary”), and Energy Capital, LLC (as “Lender”).

 

RECITALS

 

A. Subsidiary’s
Affiliate, Zev Ventures Incorporated (“Company”) has entered into that certain Loan and Security Agreement dated October
1, 2018, with Lender, as such agreement may be amended (the “Loan Agreement”), together with the other agreements executed
and delivered in connection therewith;

 

B. Subsidiary acknowledges
and agrees that it will benefit both directly and indirectly from Company’s execution of the Loan Agreement and the other
agreements executed and delivered in connection therewith;

 

AGREEMENT

 

NOW THEREFORE, Subsidiary
and Lender agree as follows:

 

		1.	The recitals set forth above are incorporated into and made part of this Joinder Agreement. Capitalized
terms not defined herein shall have the meaning provided in the Loan Agreement.

 

		2.	By signing this Joinder Agreement, Subsidiary shall be bound by the terms and conditions of the
Loan Agreement the same as if it were the Borrower (as defined in the Loan Agreement) under the Loan Agreement, mutatis mutandis,
provided however, that (a) with respect to (i) Section 5.1 of the Loan Agreement, Subsidiary represents that it is an entity duly
organized, legally existing and in good standing under the laws of Delaware, (b) Lender shall not have any duties, responsibilities
or obligations to Subsidiary arising under or related to the Loan Agreement or the other agreements executed and delivered in connection
therewith, (c) that if Subsidiary is covered by Company’s insurance, Subsidiary shall not be required to maintain separate
insurance or comply with the provisions of Sections 6.1 and 6.2 of the Loan Agreement, and (d) that as long as Company satisfies
the requirements of Section 7.1 of the Loan Agreement, Subsidiary shall not have to provide Lender separate Financial Statements.
To the extent that Lender has any duties, responsibilities or obligations arising under or related to the Loan Agreement or the
other agreements executed and delivered in connection therewith, those duties, responsibilities or obligations shall flow only
to Company and not to Subsidiary or any other Person or entity. By way of example (and not an exclusive list): (i) Lender’s
providing notice to Company in accordance with the Loan Agreement or as otherwise agreed among Company, Lender shall be deemed
provided to Subsidiary; (ii) a Lender’s providing an Advance to Company shall be deemed an Advance to Subsidiary; and (iii)
Subsidiary shall have no right to request an Advance or make any other demand on Lender.

 

		3.	Subsidiary agrees not to certificate its equity securities without Lender’s prior written
consent, which consent may be conditioned on the delivery of such equity securities to Lender in order to perfect Lender’s
security interest in such equity securities.

 

		4.	Subsidiary acknowledges that it benefits, both directly and indirectly, from the Loan Agreement,
and hereby waives, for itself and on behalf on any and all successors in interest (including without limitation any assignee for
the benefit of creditors, receiver, bankruptcy trustee or itself as debtor-in-possession under any bankruptcy proceeding) to the
fullest extent provided by law, any and all claims, rights or defenses to the enforcement of this Joinder Agreement on the basis
that (a) it failed to receive adequate consideration for the execution and delivery of this Joinder Agreement or (b) its obligations
under this Joinder Agreement are avoidable as a fraudulent conveyance.

 

     

     

    

 

[SIGNATURE PAGE TO JOINDER
AGREEMENT]

 

	SUBSIDIARY:	 
	 	 
	ONDAS NETWORKS INC.	 
	 	 
	By:	 	 
	Name: Eric Brock	 
	Title: Chief Executive Officer	 
	 	 
	LENDER:	 
	 	 
	Energy Capital, LLC	 
	 	 
	By:	 	 
	Name: Robert J. Smith	 
	Title: Managing Member	 

 

     

     

    

 

EXHIBIT
H

 

ACH DEBIT
AUTHORIZATION AGREEMENT

 

Energy Capital, LLC 

13650 Fiddlesticks Blvd., Suite 202-324 

Ft. Myers, FL 33912 

 

		Re:	Loan and Security Agreement dated October 1, 2018 between
Zev Ventures Incorporated (“Borrower”) and Energy Capital, LLC, as lender (the “Agreement”)

 

In connection with the above referenced
Agreement, the Borrower hereby authorizes the Company to initiate debit entries for the periodic payments due under the Agreement
to the Borrower’s account indicated below. The Borrower authorizes the depository institution named below to debit to such
account.

  

Depository Name: 

 

Branch:

  

City: 

 

State and Zip Code: 

 

Transit/ABA Number: 

 

Account Number:

 

Account Name:

 

This authority will remain in full force
and effect so long as any amounts are due under the Agreement.

 

	 	(Borrower)	 

 

	By: 	 	 

 

	Name:	 	 

 

	Title:	 	 

 

	Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}]]