Document:

Exhibit

2019 DECLARATION OF AMENDMENT TO
INCENTIVE AWARD PLAN OF
TANGER FACTORY OUTLET CENTERS, INC.
AND
TANGER PROPERTIES LIMITED PARTNERSHIP

THIS 2019 DECLARATION OF AMENDMENT (the “Amendment”) is made effective as of the 29th day of March, 2019 (the “Amendment Date”), by Tanger Factory Outlet Centers, Inc., a corporation organized under the laws of the State of North Carolina (the “Company”), and Tanger Properties Limited Partnership, a partnership organized under the laws of the State of North Carolina (the “Partnership”), to the Incentive Award Plan of the Company and the Partnership (Amended and Restated as of April 4, 2014), as amended on January 1, 2018 and as may be further amended from time to time (the “Plan”).  Capitalized terms used but not otherwise defined herein shall have the meanings assigned in the Plan.

RECITALS:

WHEREAS, the Company and the Partnership maintain the Plan;

WHEREAS, pursuant to Section 11.2 of the Plan, the Plan may be amended at any time and from time to time by the Board or the Committee; provided that approval by the Company’s shareholders is required for any amendment to the Plan that increases the number of shares which may be issued under the Plan (other than certain adjustments under the Plan); and

WHEREAS, the Board has deemed it advisable and in the best interests of the Company and the Partnership to amend the Plan as described herein.

NOW, THEREFORE, THE BOARD HAS DECLARED that, subject to the approval of the shareholders of the Company, the Plan shall be amended as follows:

		
	1.
	The first sentence of Section 2.1(a) of the Plan is hereby amended and restated in its entirety as follows: 

“Subject to Section 2.2 and adjustment pursuant to Section 11.3, the aggregate number of Common Shares which may be issued with respect to Awards under the Plan shall not exceed 18,700,000.”     

		
	2.
	This Amendment is adopted by the Board on the Amendment Date, effective as of the date of its approval by the shareholders of the Company within twelve (12) months following the Amendment Date (such date, the “Effective Date”). To the extent this Amendment is not approved by the shareholders of the Company within twelve (12) months following the Amendment Date, it shall be of no force and effect.  

		
	3.
	Upon the Effective Date, this Amendment shall be incorporated in and form a part of the Plan.

		
	4.
	Except as set forth herein, the Plan shall remain unchanged and in full force and effect following the Amendment Date.

[Signatures Follow on Next Page]

IN WITNESS WHEREOF, this Amendment is executed on behalf of the Company and the Partnership on the Amendment Date, effective as of the Effective Date.

	
			
	 

	 
	 
	 

	 
	TANGER FACTORY OUTLET CENTERS, INC.

	 
	 
	 

	 
	By:
	/s/ James F. Williams

	 
	Name:
	James F. Williams

	 
	Title:
	EVP, Chief Financial Officer

	 
	 
	 

	 
	TANGER PROPERTIES LIMITED PARTNERSHIP

	 
	By:
	/s/ Chad D. Perry

	 
	Name:
	Chad D. Perry

	 
	Title:
	Vice President & SecretaryExhibit 10.1

 

FIRST AMENDMENT TO THE AMENDED AND
RESTATED LOAN AND SECURITY AGREEMENT

 

THIS FIRST AMENDMENT to the Amended and
Restated Loan and Security Agreement (this “Amendment”) is made effective as of July [_], 2019 (the “Amendment
Date”) and made by and among WESTERN ALLIANCE BANK, an Arizona corporation (“Bank”) and CYTOSORBENTS
CORPORATION, a Delaware corporation and CYTOSORBENTS MEDICAL,
INC., a Delaware corporation (individually and collectively, jointly and severally
“Borrower”).

 

WHEREAS, Bank and Borrower have entered
into that certain Amended and Restated Loan and Security Agreement, dated as of March 29, 2018 (as amended, supplemented, restated
or otherwise modified from time to time, the “Loan Agreement”) pursuant to which Bank has provided to Borrower
certain loans in accordance with the terms and conditions thereof; and

 

WHEREAS, Bank and Borrower desire to amend
certain provisions of the Loan Agreement and the Success Fee Letter as provided herein and subject to the terms and conditions
set forth herein.

 

NOW, THEREFORE, in consideration of the
promises, covenants and agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, Bank and Borrower hereby agree as follows:

 

		1.	Capitalized terms used herein but not otherwise defined shall have the respective meanings given to them in the Loan Agreement.

 

		2.	Section 1.1 of the Loan Agreement is hereby amended by amending and restating the following definitions therein as follows:

 

“Amortization Date” means (i) November
1, 2019, if the Term B Loans are not made hereunder, (ii) May 1, 2020, if Term B Loans are made hereunder and Borrower has not
been compliant with its obligations under Section 6.13(a) for any month from the month immediately after the month in which the
Term B Loan is funded through March 2020 and (iii) November 1, 2020, if Term B Loans are made hereunder and Borrower has been compliant
with its obligations under Section 6.13(a) for all months from the month immediately after the month in which the Term B Loan is
funded through March 2020.

 

“Second Draw Period” means the period
commencing on the of the date of the occurrence of Revenue Event and ending on the earlier of (i) August 15, 2019 and (ii) the
occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on the date of the occurrence
of the Revenue Event an Event of Default has occurred and is continuing; provided further that no Term B Loans shall be made during
the Second Draw Period unless on the Funding Date of the Term B Loans, the Required Reserves Test is met and, on or before the
Funding Date of the Term B Loans (but no earlier than ten (10) days prior to the Funding Date), the Seventy Five Percent Test is
met or on the Funding Date of the Term B Loans, the aggregate cash reserves of Borrower (held in accounts maintained with the Bank
after giving effect to the funding of the Term B Loans), as determined by the Bank based on evidence reasonably acceptable to the
Bank, would exceed One Hundred Twenty Five percent (125%) of the then outstanding aggregate outstanding principal amount of the
Term Loans (including the Term B Loans).

 

		3.	Section 1.1 of the Loan Agreement is hereby amended by amending and restating clause (f) of the definition of “Permitted
Investments” therein as follows:

 

(f)       (i) Net
Investments (i.e. Investments net of any payments received by Borrower from the German Sub after the making of such Investments)
by Borrower in the German Sub not to exceed Seven Hundred Thousand Dollars ($700,000) in the aggregate at any given time in any
fiscal year and (ii) Net Investments (i.e. Investments net of any payments received by German Sub from its subsidiaries after the
making of such Investments) by German Sub in all of its subsidiaries not to exceed Two Hundred Thousand Dollars ($200,000) in the
aggregate at any given time in any fiscal year;

 

 

     

     

    

 

		4.	Section 1.1 of the Loan Agreement is hereby further amended by adding the following definition thereto in alphabetical order:

 

“Polish Sub” means CytoSorbents
Poland Sp. Zoo, a wholly and directly owned subsidiary of the German Sub that is organized under the laws of Poland.

 

		5.	Section 2.2(b) of the Loan Agreement is hereby amended and restated as follows:

 

Borrower shall make monthly payments of interest only
commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of
each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date of such Term
Loan. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due
for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date
for the Term Loans, and continuing on the Payment Date of each month thereafter, Borrower shall make equal monthly payments of
principal, together with applicable interest, in arrears, as calculated by Bank (which calculations shall be deemed correct absent
manifest error) based upon: (1) the amount of the Term Loans, (2) the Effective Interest Rate, as determined in Section 2.3(a),
and (3) a repayment schedule equal to (A) thirty (30) months, if the Amortization Date is November 1, 2019, (B) twenty-four (24)
months, if the Amortization Date is May 1, 2020 and (C) eighteen (18) months, if the Amortization Date is November 1, 2020. All
unpaid principal and accrued and unpaid interest is due and payable in full on the Maturity Date with respect to the Term Loans.
For the avoidance of doubt, if Borrower pays the Term Loan in full on the Maturity Date in accordance with this Agreement, no prepayment
fee will apply. The Term Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

 

		6.	Section 5.15 of the Loan Agreement is hereby amended and restated in its entirety as follows:

 

5.15       Accounts.
Other than as set forth on the Perfection Certificate, none of Borrower’s nor any Subsidiary’s Collateral Accounts
(other than the Collateral Accounts of Foreign Subsidiaries maintained outside the United States and otherwise disclosed to Borrower)
is maintained or invested with a Person other than Bank.

 

		7.	Section 6.13(b) of the Loan Agreement is hereby amended and restated as follows:

 

(b)       If, after
the Funding Date of the Term B Loans, the aggregate cash reserves of Borrower (held in accounts maintained with the Bank) for any
given month, as determined by the Bank based on evidence reasonably acceptable to the Bank, exceed One Hundred Twenty Five percent
(125%) of the then outstanding aggregate outstanding principal amount of the Term Loans, Borrower shall not be required to comply
with the provisions of Section 6.13(a) for such month other than for the purposes of determining the Amortization Date.

 

		8.	The following Section 6.15 is hereby added to the Loan Agreement:

 

6.15       Swiss Sub Pledge Agreement and Polish Sub
Pledge Agreement.Borrower shall, at such time when requested by Bank in its reasonable discretion, make commercially reasonable
efforts to cause to be delivered to Bank one or more pledge agreements and other related documents regarding the pledge to the
Bank of a perfected security interest in the Shares of the Swiss Sub and/or the Polish Sub, all in such form and substance as are
reasonably satisfactory to Bank.

 

		9.	Section 7.7 of the Loan Agreement is hereby amended and restated in its entirety as follows:

 

7.7       Investments.
Without Bank’s prior written consent, 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; or, maintain any Collateral Accounts with a Person
other than Bank or permit any of its Subsidiaries to do so (other than the Collateral Accounts maintained by Foreign Subsidiaries
outside the United States and otherwise disclosed to the Bank) unless such Person has entered into an account control agreement
with Bank in form and substance satisfactory to Bank; or suffer or permit any Subsidiary to be a party to, or be bound by, an agreement
that restricts such Subsidiary from paying dividends or otherwise distributing property to Borrower.

 

    	 	2	 

     

    

 

		10.	Section 7.13 of the Loan Agreement is hereby amended and restated in its entirety as follows:

  

7.13       Cash
and Cash Equivalent Assets of German Sub and its subsidiaries. 

 

 

(a)       The total
cash and cash equivalent assets of the German Sub may not exceed Five Hundred Thousand Dollars ($500,000) at any given time and
any cash and cash equivalent assets in excess of such amount must be caused to be distributed to the Borrower.

 

(b)       The total
cash and cash equivalent assets of all subsidiaries of the German Sub may not exceed Two Hundred Thousand Dollars ($200,000) in
the aggregate at any given time and any cash and cash equivalent assets in excess of such amount must be caused to be distributed
to the German Sub, where such cash and cash equivalent assets shall be subject to the provisions of Section 7.13(a).

 

		11.	The Success Fee Letter is hereby amended by amending and restating the definition of the term “Liquidity Event”
set forth therein as follows:

 

“Liquidity Event” means any of the following:
(a) a sale or other disposition by either Borrower of all or substantially all of its assets; (b) a merger or consolidation of
either Borrower into or with another person or entity, where the holders of such Borrower’s outstanding voting equity securities
as of immediately prior to such merger or consolidation hold less than a majority of the issued and outstanding voting equity securities
of the successor or surviving person or entity as of immediately following the consummation of such merger or consolidation; (c)
a transaction or a series of related transactions in which any “person” or “group” (within the meaning
of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as defined in
Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of a sufficient number of shares of all classes
of stock then outstanding of either Borrower ordinarily entitled to vote in the election of directors, empowering such “person”
or “group” to elect a majority of the Board of Directors of such Borrower, who did not have such power before such
transaction; or (d) the closing price per share for Parent’s common stock on stock exchange where shares of Parent’s
common stock are traded at the applicable time, the greater of 1) 70% or more over the closing price of the common stock on the
date the Amended Loan Agreement is executed (after giving effect to any stock splits or consolidations effected after the date
hereof) for five successive business days or 2) 26.13% more than the average price of common stock for the 365 day period ending
on the date of the funding of the Term B Loan.

 

		12.	Limitation of Amendment.

 

		a.	The amendment set forth above is effective for the purposes set forth herein and shall be limited precisely as written and
shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document,
or (b) otherwise prejudice any right, remedy or obligation which the Bank or Borrower may now have or may have in the future under
or in connection with any Loan Document, as amended hereby.

 

		b.	This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations,
warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed
and shall remain in full force and effect.

 

    	 	3	 

     

    

 

		13.	To induce the Bank to enter into this Amendment, Borrower hereby represents and warrants to the Bank as follows:

 

		a.	Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are
true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties
relate to an earlier date, in which case they are true and correct in all material respects as of such date), and (b) no Event
of Default has occurred and is continuing;

 

		b.	Borrower has the power and due authority to execute and deliver this Amendment and to perform its obligations under the Loan
Agreement, as amended by this Amendment;

 

		c.	The organizational documents of Borrower delivered to the Bank on the Effective Date, and updated pursuant to subsequent deliveries
by the Borrower to the Bank, if any, remain true, accurate and complete and have not been amended, supplemented or restated and
are and continue to be in full force and effect;

 

		d.	The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, will not constitute a an event of default under any material agreement with a Person binding
on Borrower, or a breach of any provision contained in the Articles of Incorporation or Bylaws of Borrower; and

 

		e.	This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against
Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
liquidation, moratorium or other similar laws of general application and by general equitable principles.

 

		14.	Except as expressly set forth herein, the Loan Agreement and the Success Fee Letter shall continue in full force and effect
without alteration or amendment. This Amendment and the Loan Documents represent the entire agreement about this subject matter
and supersede prior negotiations or agreements.

 

		15.	This Amendment shall be deemed effective as of the Amendment Date upon the due execution and delivery to the Bank of this Amendment
by each party hereto.

 

		16.	This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of which,
taken together, shall constitute one and the same instrument.

 

		17.	This Amendment and the rights and obligations of the parties hereto shall be governed by and construed in accordance with the
laws of the State of California.

 

 

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Blank]

 

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IN WITNESS WHEREOF, the parties hereto
have caused this First Amendment to the Amend and Restated Loan and Security Agreement to be executed as of the date first set
forth above.

 

	 	CytoSorbents Corporation, a Delaware

corporation
	 	 
	 	By:	/s/ Kathleen P. Bloch	 
	 	 	 	 
	 	Title:	Chief Financial Officer 	 
	 	 	 	 
	 	 	 	 
	 	CytoSorbents Medical, Inc., a Delaware

corporation
	 	 
	 	By:	/s/ Kathleen P. Bloch	 
	 	 	 	 
	 	Title:	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	Western Alliance Bank, an Arizona

corporation   
	 	 
	 	By:	/s/ Lindsay Fouty	 
	 	 	 	 
	 	Title: 	VP, Portfolio Management

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