Document:

FIRST AMENDMENT TO LEASE

 

This First Amendment
to Lease ("First Amendment") is made and entered into this ), 29TH day of January, 2013, by and between ROSEVILLE
PROPERTIES MANAGEMENT COMPANY, INC., a Minnesota corporation, as agent for EAGAN BUSINESS COMMONS I, LLC, a Minnesota
limited liability company ("Landlord"), and BIODRAIN MEDICAL, INC., a Minnesota corporation ("Tenant").

 

RECITALS

 

WHEREAS, Landlord and Tenant entered
into a certain Lease Agreement, dated April 30, 2012 ("Original Lease"), pertaining to approximately 5,773 square feet
of space at the property commonly known as 2915 Commers Drive, Eagan, Minnesota 55121 (the "Building").

 

WHEREAS, Landlord
and Tenant wish to amend and modify the Lease in order to, among other things, extend the term of the Lease, provide for Base Rent
and Additional Rent rather than Gross Rent, and provide for Landlord to make certain tenant improvements to the Demised Premises,
all of which modifications will be upon the terms and conditions hereinafter set forth.

 

NOW, THEREFORE,
in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

 

1.          Defined
Terms. Each capitalized term used in this First Amendment shall have the same meaning as in the Lease, unless the context of
this First Amendment requires otherwise.

 

2.          Lease
Term. The Lease Term is hereby extended for five (5) years from February 1, 2013, until January 31, 2018 (the "Extension
Term").

 

3.          Base
Rent. Article2 of the Lease is amended so that, effective February 1, 2013, Tenant shall no longer pay Landlord Gross Rent,
but shall commence to pay Base Rent for the Demised Premises, as set forth below_ All references made to Gross Rent in the Lease
shall be replaced with the words Base Rent and Additional Rent (as that term is hereinafter defined).

 

	Months	 	Monthly Rase Rent Amount
	Months 1 through 12	 	$2,905.00 per month
	Months 13 through 24	 	$2,993.00 per month
	Months 25 through 36	 	$3,083.00 per month
	Months 37 through 48	 	$3,175.00 per month
	Months 49 through 60	 	$3,271.00 per month

 

4.          Additional
Rent. Article 3 of the Lease is amended so that, effective February 1, 2013, Tenant shall reimburse to Landlord monthly, throughout
the Term of the Lease and any extension of this Lease, Tenant's Share (as that term is hereinafter defined) of the following Additional
Rent:

 

    	1

    	 

    

 

Common
Area Maintenance (CAM) expenses, Real Estate Taxes/Assessments, any Utilities not paid directly by Tenant, and any Miscellaneous
Charges or Reimbursements.

 

Landlord may estimate annual CAM and Real Estate
Taxes/Assessments expenses as a basis for reimbursementior any calendar year and invoice in monthly installments (see Exhibit
C). During the Term of Lease and/or any extension of this Lease, Landlord, within one hundred twenty (120) days of each calendar
year end, will provide to Tenant a written statement of actual CAM and Real Estate Taxes/Assessments expenses. If Tenant has underpaid
its share of any of these expenses, Tenant shall reimburse Landlord as invoiced within ten (10) days after receipt of such invoice.
If Tenant has overpaid its share of any of these expenses, Landlord will credit such amount against the most current monthly invoice.
If the Term of Lease is less than one calendar year any reimbursement(s) will be prorated based on time of occupancy for such year.
Upon prior written notice to Landlord, Tenant shall have the opportunity to audit the actual CAM and Real Estate Taxes/Assessments
expenses statement for a period of ninety (90) days after receipt of said statement_ Tenant waives its right to audit the actual
CAM and Real Estate Taxes/Assessments expenses if Tenant fails to exercise such right during said ninety (90) day period.

 

Tenant's Share of all Additional Rent will be determined
by the square footage of the Demised Premises together with Tenant's proportionate share of any rooms considered common area to
the Building divided by the total square footage of the Building to obtain an annual cost per square foot.

 

Landlord, at its election, may invoice for reimbursement(s)
of any Utility usage not paid directly by Tenant.

 

3.1 COMMON AREA MAINTENANCE EXPENSES (CAM):

Common Area Maintenance (CAM) shall include but
not be limited to maintenance, repair, replacement and care of all lighting, plumbing, roofs, parking surfaces, landscaped areas,
signs, snow removal, non-structural repair and maintenance of the exterior of the Building, costs of equipment purchased and used
for such purposes, cleaning and cleaning supplies for the common areas, insurance premiums, management fee based upon gross collected
rents, wages and fringe benefits of personnel employed for such work. Additionally, during the Term of this Lease, any extension
and/or renewal of this Lease, CAM expenses shall include the annual cost or portion allocable to the Building of any capital improvements
made to the Building by Landlord which result in a reduction of expenses or
required under any governmental law or regulation that was not applicable at the time it was constructed. Landlord may elect to
amortize such costs over a reasonable time period and at a reasonable rate of interest.

 

    	2

    	 

    

 

Notwithstanding the foregoing, CAM shall exclude the
following: (i) payments of principal and interest on any mortgage or other encumbrance on the Building; (ii) amounts reimbursable
from insurance proceeds, under warranty or by Tenant, any other tenant in the Building or any other third party other than pursuant
to a CAM expense provision similar to this Article; (iii) interest, late charges or penalties incurred as a result of Landlord's
failure to pay bills in a timely manner (unless such failure is directly related to the failure of Tenant to pay Tenant's Share
of any such bill in a timely manner); (iv) leasing or brokerage fees; (v) depreciation; (vi) costs incurred in connection with
the transfer or disposition of all or a portion of Landlord's interest in the Building; (vii) costs of providing to other tenants
services which are not available to Tenant; and (viii) attorneys' fees and other legal costs incurred as a result of defaults by,
or litigation or other disputes with, other tenants of the Building.

 

3.2 REAL ESTATE TAXES AND ASSESSMENTS:

Real Estate Taxes and Assessments shall mean all Real
Estate Taxes, all assessments and any taxes in lieu thereof payable in each calendar year, which may be levied upon or assessed
against the Building. Any tax year commencing during any lease year shall be deemed to correspond to such lease year. In the event
the taxing authorities additionally include in such real estate and assessments the value of any improvements made by Tenant, or
of machinery, equipment, fixtures, inventory or other personal property or assets of Tenant, then Tenant shall pay all the taxes
attributable to such items. Upon Tenant's request, Landlord will furnish a copy of the Real Estate Tax statement.

 

Landlord reserves, and Tenant hereby assigns to Landlord,
the sole and exclusive right to contest, protest, petition for review, or otherwise seek a reduction in the Real Estate Taxes.

 

3.3 UTILITIES:

Landlord shall provide mains and conduits to supply
water, gas, electricity and sanitary sewage to the Building_ Tenant shall pay, when due, all charges for sewer and water usage,
garbage/refuse disposal/removal and recycling, electricity, gas and other fuels, telephone/communication services and/or other
utility services or energy source furnished to the Demised Premises during the term of this Lease, or any extension and/or renewal
of this Lease. If Tenant's usage of any utility is
deemed disproportionate as determined by Landlord, Landlord may elect to submeter and bill Tenant accordingly. Landlord accepts
no responsibility for any disruption of any utility service due to accident, natural causes or circumstances beyond Landlord's
control and/or the utility provider's inability to deliver said service.

 

    	3

    	 

    

 

3.4 MISCELLANEOUS CHARGES AND REIMBURSEMENTS:

Miscellaneous Charges and Reimbursements shall include,
without limitation, reconciliation of Real Estate Taxes/Assessments, CAM and Utilities, service requests facilitated by Landlord
at the direction of Tenant, Tenant improvement reimbursements, notes due Landlord and any other miscellaneous charge due Landlord.
Gas, electric, and telephone utilities furnished to the Demised Premises will be separately metered and billed directly to Tenant.
All other utilities will be billed directly by the utility provider to Tenant or, if billed by the utility provider to the Landlord,
included as an Operating Cost.

 

5.          Tenant
Improvements. Landlord will cause the following improvements to the Demised Premises to be constructed by Landlord's contractor,
at Landlord's sole cost and expense, on Tenant's behalf: (i) Paint and re-carpet the office areas, work to be performed in order
to accommodate relocation of furniture in phases; (ii) Install six (6) electrical drops (two (2) circuits minimum) in the warehouse
area, locations to be determined by Tenant; (iii) Provide safety lights in the front office area; (iv) Tape and paint warehouse
area wallboard; (v) Provide additional flood light in back door dock area; (vi) Clean warehouse floor of tape, etc., from previous
tenant; (vii) Adjust dock door to stay open properly; (viii) Provide building standard signage, which is vinyl lettering on the
exterior entrance to the Demised Premises; (ix) Re-key all office doors to accommodate lock security; and (x) Provide and install
doors on two (2) offices. V's Other than the improvements set forth herein, Landlord shall have no obligation to make other alterations
or improvements to the Demised Premises.

 

6.          Parking.
Tenant shall have non-exclusive access to three (3) parking spaces per 1,000 square feet of rentable space within the Demised Premises
free for the life of the Lease.

  

    	4

    	 

    

 

7.          Early
Lease Termination. Provided that the Lease is in full force and effect and Tenant is otherwise in compliance with the
terms of this Lease, Tenant shall have a one (1) time right to elect termination of this Lease and occupancy of the Demised
Premises (the "Early Termination") by (i) providing Landlord written notice with Tenant's intent to elect the Early
Termination, and (ii) paying to Landlord an early termination fee (the "Early Termination Fee"), said notice and
Early Termination Fee to be provided to Landlord prior to the beginning of the thirty-first (31') month of the Term of this
Lease (the "Early Termination Notice Period"). The Early Termination Fee is the amount equal to three (3) months'
gross rent together with the unamortized "Transaction Costs" (as that term is hereinafter defined) incurred by
Landlord in entering into this Lease. The unamortized Transaction Costs shall be equivalent to the remaining principal
balance of a loan as of the Early Termination Date (as that term is hereinafter defined), which originally had been made as
of the Commencement Date, in the original principal amount equal to the Transaction Costs and amortized over the same number
of months Tenant is to pay rent under the Term of this Lease at six percent (6%) per annum. For purposes of the foregoing,
"Transaction Costs" shall mean the total cost of only those Tenant Improvements referenced in items (I) through
(vi) in Section 5 of this First Amendment. In the event the notice of Early Termination and Early Termination Fee have been
timely delivered by Tenant to Landlord, the Early Termination will be effective at the conclusion of the thirty-sixth
(36th) month of the Term of this Lease (the "Early Termination Date"). In the event Tenant has not
timely exercised its right to the Early Termination, Tenant's right to the Early Termination shall cease and be of no further
force or effect. The right set forth in this Article is not transferable, the parties hereto acknowledge and agree that the
right to terminate as set forth in this Article shall be "personal" to the Tenant executing this First Amendment,
and that in no event will any assignee or sublessee have any rights to exercise any rights set forth in this Article.

 

8.            Right
of First Offer to Lease Available Space. During the Term of this Lease, Tenant shall, subject to the terms and conditions set
forth in this Article, have the right of first offer (the "Right of First Offer"), to lease any other contiguous space
to the Demised Premises that has or will "become available" (as that term is hereinafter defined) within the Building
(the "Offer Space").

 

		a.	Tenant's Right of First Offer is subject to and as conditioned
upon (i) the Lease must be in full force and effect; (ii) Tenant shall not be in default herein; (iii) Tenant's offer to lease
the Offer Space must be for a term which is co-terminus with the Term of this Lease and have a remaining term not less than three
(3) years; and (iv) Tenant's offer to lease the Offer Space must meet such other terms and conditions as are set forth in this
Article_

 

		b.	After any part of the Offer Space has or will "become
available", Landlord shall not, during the Term of this Lease, offer on the market or lease to another tenant that space
within the Offer Space that has or will "become available- without first offering Tenant the right to lease that
space as provided in this Article. Space shall be deemed to "become available" when the lease for space occupied by
a tenant other than Tenant herein, expires or is otherwise terminated. Offer Space shall not be deemed to "become available"
if the space is: (i) assigned or subleased by the current tenant of the space; (ii) re-leased by the current tenant of the space
by renewal, extension, or re-negotiation; or (iii) not leased to a tenant as of the date of this Lease (until that space is leased,
and then subsequently "becomes available").

 

    	5

    	 

    

 

		c.	Landlord agrees that prior to entering into a lease with
another tenant for Offer Space, Landlord shall so notify Tenant, in writing, which notice shall be accompanied by a term sheet
for such Offer Space (the "Term Sheet"), setting forth the terms and conditions under which the Landlord is willing
to lease such Offer Space to Tenant, including Base Rent for the Offer Space at the then current market rental rates. Tenant shall
have a period of five (5) business days after receipt of such notice and the Term Sheet (the "Acceptance Period") within
which to notify Landlord, in writing, that it elects to lease such space on the terms (including a required minimum lease term
as set forth in Article (a) above) and conditions set forth in such Term Sheet. If Tenant makes such election within the Acceptance
Period, an appropriate amendment to this Lease shall be entered into by Landlord and Tenant to add the Offer Space to the Demised
Premises on the terms set forth in the Term Sheet submitted by Landlord. If Tenant does not make the aforesaid election within
the Acceptance Period, or if Landlord and Tenant do not enter into an amendment to this Lease incorporating such space on the
terms set forth in the Term Sheet within thirty (30) days after receipt by Landlord of Tenant's written election to lease such
Offer Space, Tenant shall be deemed to have waived its rights with respect to the space set forth in Landlord's notice, Tenant's
Right of First Offer shall automatically terminate and be of no further force and effect, and Landlord shall be free to lease
such Offer Space to any other party free of any claim of Tenant.

 

		d.	If this Lease or Tenant's right to possession of the
Demised Premises shall terminate in any manner whatsoever before Tenant shall exercise its rights under this Article, or if Tenant
shall have subleased or assigned all or any portion of the Demised Premises, then immediately upon such termination, sublease,
or assignment, this Article and Tenant's rights hereunder shall simultaneously terminate and become null and void. Such right
is personal to Tenant. Under no circumstances whatsoever shall the assignee under a complete or partial assignment of the Lease,
or a subtenant under a sublease of the Demised Premises, have any right to exercise any rights under this Article or have any
right to receive any notice from Landlord.

 

9.           Binding
Effect. The parties acknowledge, confirm and agree that except as may be explicitly inconsistent with this First Amendment,
the terms and conditions of the Lease, shall continue to be in full force and effect and are hereby ratified and confirmed.

 

10.         Submission. Submission
of this First Amendment by Landlord or Landlord's agent to Tenant for examination shall not in any manner bind Landlord and
no obligation of Landlord shall arise under this First Amendment, unless and until this
First Amendment is fully signed and delivered by Landlord and Tenant.

 

11.         Counterparts.
This First Amendment may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same agreement.

 

    	6

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this First Amendment to be effective as of the date first written above.

 

	 	LANDLORD:—)
	 	ROSEVILLE PROPERTIES MANAGEMENT COMPANY,
	 	INC., as agent for EAGAN BUSINESS COMMONS LLC
	 	 	 
	 	By	

	 	Its	
	 	 	 
	 	TENANT:
	 	BIODRAIN MEDICAL, INC_
	 	 	 
	 	By	

	 	Its	 

 

    	7

    	 

    

 

EXHIBIT C

 

COMMON AREA MAINTENANCE

 

2915 Commers Drive, EAGAN BUSINESS COMMONS I

 

2013   ESTIMATED COMMON
AREA MAINTENANCE (CAM} EXPENSES

 

Bldg. SF:                   89275

  

 

 

	 	 	 	 	 	 	 	SfSF/Yr	 	 	Rationale***
	 	 	 	 	 	 	 	 	 	 	 
	Properly/iJability insurance	 	$	9,500	 	 	 	50.14	 	 	Annual premium
	Snow Removal	 	$	6,000	 	 	$	0.09	 	 	Nov-March contract plus salt/sand
	Grounds Maintenance	 	$	9,500	 	 	$	0.14	 	 	Apr-Oct contracts; lawn, flowers, irrigation
	Roof Repair/Inspection	 	$	1,000	 	 	$	0.01	 	 	 
	Parking Lot Maintenance	 	$	1,000	 	 	$	0.01	 	 	Repairs, sweeping & sniping
	Window Wash	 	$	800	 	 	$	0.01	 	 	Entries monthly, 2x exterior, lx interior
	Misc. Building Repairs	 	$	500	 	 	$	0.01	 	 	Estimate
	Maintenance Labor	 	$	2.700	 	 	$	0.04	 	 	Estimate of 3 hours/month @ $78/hr.
	HVAC Scheduled Maintenance	 	$	4,200	 	 	$	0.06	 	 	4x/yr inspections/filters/belts, condenser wash
	Maintenance Supplies	 	$	200	 	 	$	0.00	 	 	Estimate
	Fire/Life Safety	 	$	1,800	 	 	$	0.03	 	 	Monitor contract, 2 phone lines, annual inspectior
	Pest Control	 	$	1,000	 	 	$	0.01	 	 	Contract
	Exterior Lighting	 	$	4.200	 	 	$	0.06	 	 	Estimate on electric use
	Administration/Management Fees	 	$	34,000	 	 	$	0.49	 	 	Estimate on % of collected rents
	TOTALS:    	 	$	76,400	 	 	 	$1.10
                                            1SF/Yr	 	 	 

 

	***SewerANater billed quarterly	 	 	 

 

	2013 Est. Property Tax:	 	$2.46 ISF/Yr	 

 

    	8Exhibit 4.24

 

 

Monarch Capital Group, LLC

CONFIDENTIAL

January 23, 2013

 

Mr. Stan Cipkowski

Chief Executive Officer

American Bio Medica Corporation

122 Smith Road

Kinderhook, NY 12106

 

Re: Engagement of Monarch Capital Group, LLC

 

Dear Mr. Cipkowski:

 

Monarch Capital Group,
LLC (“we" or "MCG”) would be pleased to act as non-exclusive financial advisor for American Bio Medica
Corporation, (“you" or the "Company") in connection with proposed introductions to potential investors and
strategic partners. The terms of the engagement are set forth in this letter (the "Agreement”).

1. Services 

 

 

	 	-	Introduce the company
to appropriate investors and analysts.

 

		-	Introduce the Company to and advise about companies that are possible
strategic partners.

 

		-	Introduce the Company to appropriate U.S. legal and accounting firms
as necessary.

 

	 	-	Render such other
fanatical advisory and investment banking services as may from time to time be necessary or appropriate to accomplish the
Company's objectives, as may be agreed upon by Monarch and the Company.

 

    	 

    	Page 2

    

 

2. Fees and Expenses.

 

The company shall pay
to MCG, within ten days of execution of this agreement, 333,333 shares of the Company's restricted stock ("Retainer Fee").
The stock shall be restricted for a period of one year from the date issued.

 

3. Term of Engagement. 

 

The term of this engagement
will be six months from the date of the signing of the agreement; however, either party may terminate this Agreement at any time
upon 30 days written notice to the other party. Upon termination, MCG will be entitled to collect all Retainer Fees for the full
agreement period.

 

4. Representations and
Warranties. 

 

(a) You hereby authorize
MCG to transmit to prospective purchasers of the securities materials prepared by the Company with such exhibits and supplements
as may from time to time be required or appropriate or, alternatively, copies of the Company's most recent filings with the Securities
and Exchange Commission, together with summary materials prepared by the Company, if we deem the appropriate. The Company represents
and warrants that the materials (i) will be prepared by the management of the Company and reviewed and approved by its Board of
Directors; and (ii) will not contain any untrue statement of a material fact or omit to, state a material fact required to be stated
therein or necessary to make the statements therein or previously made; in light of the circumstances under which they were made,
not misleading. The Company will advise MCG immediately of the occurrence of any event or any, other change known to the Company
which results in the materials containing an untrue statement of a material fact or omitting to state a material fact required
to be stated therein or necessary to make the statements therein or previously made, in light of the circumstances under which
they were made, not misleading.

 

5. Indeml1ificatlon,
Contribution, and Confidentiality. The Company agrees to indemnify MCG and its controlling persons, representatives and, agents
in accordance with the Indemnification provisions set forth in Appendix I, and the parties agree to the confidentiality provisions
of Appendix 11, all of which are incorporated herein by this reference.

  

6. Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the state of New York applicable to contracts
executed and to be wholly performed therein without giving effect to its conflicts of laws principles or rules. The Company and
MCG agree that any dispute concerning this Agreement shall be resolved through binding arbitration before the Financial Industry
Regulatory Authority (FINRA) pursuant to its arbitration rules. Arbitration will be venued in New York.

 

    	 

    	Page 3

    
 

7. Advice to the
Board. The Company acknowledges that any advice given by us to you is solely for benefit and use of the Board of Directors
of the Company and may not be used, reproduced, disseminated, quoted or referred to, without our prior written consent.

 

8. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes and cancels any and all prior or contemporaneous
arrangements, understandings and agreements, written or oral, between them relating to the subject matter hereof.

 

We look forward to working with you
and in supporting the Company in meeting its long-term objectives.

Very truly yours,

 

MONARCH CAPITAL GROUP, LLC 

 

	By: 	/s/ Michael Potter	 
	 	Michael Potter
	 	Chairman 

 

Date: 2/4/13

 

 

American Bio Medica Corporation.

 

	By:	/s/ Stan Cipkowski1/30/13	 
	 	Stan Cipkowski
	 	Chief Executive Officer

 

    	 

    	Page 4

    
 

APPENDIX I

 

INDEMNIFICATION AND CONTRIBUTION

 

The Company agrees
to indemnify and hold harmless MCG and its affiliates (as defined in Rule 405 under the Securities Act. of 1933, as amended (the
"Act") and their respective directors, Officers, employees; agents and controlling persons (MCG and each such person
being an "Indemnified Party") from and against all losses, claims, damages and liabilities (or actions, including
shareholder actions, in respect thereof), joint or several, to which such Indemnified Party may become subject under any applicable
federal or state law, or otherwise, which are related to or result from the performance by MCG of the services contemplated by
or the engagement of MCG pursuant to, this Agreement and will promptly reimburse any Indemnified Party for all reasonable expenses
(Including reasonable counsel fees and expenses) as they are incurred in connection with the investigation of, preparation for
or defense arising from any threatened or pending claim, whether or not such Indemnified Party is a party and whether or not such
claim, action or proceeding is initiated or brought by the Company. The Company will not be liable to any Indemnified Party under
the foregoing indemnification and reimbursement provisions, (i) for any settlement by an Indemnified Party effected without its
prior written consent (not to be unreasonably withheld); or (Ii) to the extent that any loss, claim, damage or liability is found
in a final, non-appealable judgment by a court Of competent jurisdiction to have resulted primarily from MCG's willful misconduct
or gross negligence. The Company also agrees that no Indemnified Party shall have any liability (whether direct or indirect, in
contract or tort or ·otherwise) to the company or its security holders or creditors related to or arising out of the engagement
of MCG pursuant to, or the performance by MCG of the services contemplated by, this Agreement except to the extent that any loss,
claim, damage or liability is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted primarily
from MCG’s willful misconduct or gross negligence.

 

Promptly after receipt
by an Indemnified Party of notice of any intention or threat to commence an action; suit or proceeding or notice of the commencement
of any action, suit or proceeding, such Indemnified Party will, lf a claim In respect thereof is to be made against the Company
pursuant hereto, promptly notify the Company in writing of the same. In case any such action is brought against any Indemnified
Party and such Indemnified Party notifies the Company of the Commencement thereof, the Company may elect to assume the defense
thereof, with counsel reasonably satisfactory to such Indemnified Party, arid an Indemnified Party may employ counsel to participate
in the defense of any such action provided, that the employment of such counsel shall be at the Indemnified Party's own expense,
unless (i) the employment of such counsel has been authorized in writing by the Company, (ii) the Indemnified Party has reasonably
concluded (based upon advice of counsel to the Indemnified Party) that there may be legal defenses available to it or other Indemnified
Parties that are different from or in addition to those available to the Company, or that a conflict or potential conflict exists
(based upon advice of counsel to the Indemnified Party) between the Indemnified Party and the Company that makes it Impossible
or inadvisable for counsel to the Indemnifying Party to conduct the defense of both the Company and the Indemnified Party (in which
case the Company will not have the right to direct the defense of such action on behalf of the

 

    	 

    	Page 5

    
 

Indemnified Party), or (iii) the
Company has not in fact employed counsel reasonably satisfactory to the Indemnified Party to assume the defense of such action
within a reasonable time after receiving notice of the action, suit or proceeding, in each of whim cases the reasonable fees, disbursements
'and other charges of such counsel will be at the expense of the Company; provided, further, that In no event shall the Company
be required to pay fees and, expenses for more than one firm of attorneys representing Indemnified Parties unless the defense of
one Indemnified Party is unique or separate from that of another Indemnified Party subject to the same claim or action. Any failure
or delay by an Indemnified Party to give the notice referred to In this paragraph shall not affect such Indemnified Party's right
to be indemnified hereunder, except to the extent that such failure or delay causes actual harm to the Company, or prejudices its
ability to defend such action, suit or proceeding on behalf of such Indemnified party.

 

The Company agrees
that without MCG's prior written consent, which shall not be unreasonably withheld, It will not settle, compromise or consent to
the entry of any judgment in any pending or threatened claim, action or proceeding in respect of which indemnification could be
sought under the indemnification provisions of this Agreement (in which MCG or any other Indemnified Party is an actual or potential
party to such claim, action or proceeding)" unless such settlement, compromise or consent includes an unconditional release
of each Indemnified Party from all liability arising out 6f such claim, action or proceeding.

 

In the event that an
Indemnified Party is requested or required to appear as a witness in any action brought by at on behalf of or against the Company
in which such Indemnified Party is not named as a defendant, the Company agrees to promptly reimburse MCG on a monthly basis for
all expenses incurred by it in connection with such Indemnified Party's appearing and preparing to appear as such a witness, including,
without limitation, the reasonable fees and disbursements of its legal counsel.

 

If
multiple claims tire brought, and indemnification Is permitted under applicable law and provide for under this Agreement with
respect to at least one of such claims, the Company agrees that any judgment or arbitration award shall be conclusively deemed
to be based on claims as to which indemnification is permitted and provided for, except to the extent the judgment or arbitrate
award expressly states that It, or any portion thereof, Is based solely on a claim as to which indemnification is not available. 

 

    	 

    	Page 6

    
 

APPENDIX II

 

INFORMATION TO BE SUPPLIED; CONFIDENTIALITY.

 

In connection with
MCG's activities on behalf of the Company, the Company will furnish MCG with all financial and other information regarding the
Company that MCG reasonably "believes appropriate to its assignment (all such information so furnished by the Company, whether
furnished before or after the date of this Agreement, being referred to herein as the "Information''). The Company will provide
M"CG with access to the officers, directors, employees, independent accountants, legal counsel and other advisors and Consultants
of the Company. The Company recognizes and agrees that MCG (i) will use arid rely primarily on the Information and infoi1T'iation
available from generally recognized public sources in performing the services contemplated by this Agreement without independently
verifying the Information or such other information, (Il) does not assume responsibility for the accuracy of the Information or
such other information; and (iii) win not make an appraisal of any assets or liabilities owned or controlled by the Company or
its market competitors.

 

MCG"
will maintain the confidentiality of the Information and, unless and until such information shall have been made publicly available
by the Company or by others without breach of a confidentiality agreement, shall disclose the Information only as authorized by
the Company or as required by law or by order of a governmental authority or court of competent "jurisdiction. In the event
that MCG is legally required to make disclosure of any of the Information, MCG will give notice to the Company prior to such discourse,
to the extent that MCG can practically do so. 

The foregoing paragraph shall not apply to information that:

 

(i)
at the time of disclosure by the Company is, or thereafter becomes, generally available to the public or within the Industries
In which the Company or MCG or its affiliates conduct business, other than as a direct result of a breath by MCG of its obligations
under this Agreement;

 

(ii)
prior to or at the time of disclosure by the Company, Was already In the possession of, or conceived by, MCG Or any of its affiliates,
or could have been developed by them from information then in their possession, by the application of other information or techniques
in their possession, generally available to the public, or available to MCG or its affiliates other than from the Company;

 

(iii)
at the time of disclosure by the Company or thereafter, Is obtained by MCG or any of its affiliates from a third party who MCG
reasonably believes to be in possession of or disclosing the Information not in violation of any contractual, legal or fiduciary
obligation to the Company with respect to that information; or

 

(iv) is
independently developed by MCG or its affiliates.

 

    	 

    	Page 7

    
 

Nothing in this Agreement
shall be construed to limit the ability of MCG or its affiliates to pursue, investigate, analyze, invest in, or engage in investment
banking, financial advisory or any other business relationship with entities other than the Company, notwithstanding that such
entities may be engaged in a business which is similar to or competitive with the business of the Company, and notwithstanding
that such entities may have actual or potential operations, products, services, plans, ideas, customers or supplies similar or
identical to the Company's, or may have been identified by the Company as potential merger or acquisition targets or potential
candidates fur some other business combination, cooperation or relationship. The Company expressly acknowledges and agrees that
it does not claim any proprietary interest in the identity of any other entity in its industry or otherwise, and that the 'identity
of any such entity is not confidential information.

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