Document:

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.12</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>THIS LOAN AND SECURITY
AGREEMENT </B>(this <B>&ldquo;Agreement&rdquo;</B>) is dated as of the Effective Date between <B>SILICON VALLEY BANK, </B>a California
corporation (<B>&ldquo;Bank&rdquo;</B>)<B>, </B>and the borrower(s) listed on Schedule I hereto <B>(&ldquo;Borrower(s)&rdquo;</B>). The
parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>1.
</B></FONT><B><U>LOAN AND TERMS OF PAYMENT</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Revolving Line.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Availability</U>. Subject to the terms and conditions of this Agreement and to deduction of Reserves, commencing as of August
1, 2022 until December 31, 2022, Borrower may request that Bank finance specific Eligible Accounts. Bank may, in its sole discretion in
each instance, finance such Eligible Accounts by extending credit to Borrower in an amount equal to the result of the Advance Rate multiplied
by the face amount of the Eligible Account (an <B>&ldquo;Advance&rdquo;</B>), provided that the aggregate amount of all outstanding Advances
shall not exceed the Availability Amount. Amounts borrowed under the Revolving Line may be prepaid or repaid as set forth on Schedule
I hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Termination; Repayment</U>. The Revolving Line terminates on the Revolving Line Maturity Date, when the outstanding principal
amount of all Advances, the accrued and unpaid interest thereon, and all other outstanding Obligations relating to the Revolving Line
shall be immediately due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Reserved.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Overadvances. </B>If, at any time, the sum of the aggregate outstanding principal amount of any Advances, exceeds the lesser of
(i) the Revolving Line or (ii) the Borrowing Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess,
the <B>&ldquo;Overadvance&rdquo;). </B>Without limiting Borrower&rsquo;s obligation to repay Bank any Overadvance, Borrower shall pay
Bank interest on the outstanding amount of any Overadvance, on demand, at a rate per annum equal to the rate that is otherwise applicable
to Advances plus five percent (5.0%).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Payment of Interest on the Credit Extensions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Interest Payments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Advances</U>. Interest on the principal amount of each Advance is payable as set forth on Schedule I hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Interest Rate</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Advances</U>. Subject to Section 1.4(c), the outstanding principal amount of any Advance shall accrue interest as set forth
on Schedule I hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.25in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>All-In Rate</U>. Notwithstanding any terms in this Agreement to the contrary, if at any time the interest rate applicable to
any Obligations is less than zero percent (0.0%), such interest rate shall be deemed to be zero percent (0.0%) for all purposes of this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Default Rate</U>. Immediately upon the occurrence and during the continuance of an Event of Default, the outstanding Obligations
shall bear interest at a rate per annum which is five percent (5.0%) above the rate that is otherwise applicable thereto (the <B>&ldquo;Default
Rate&rdquo;</B>). Fees and expenses which are required to be paid by Borrower pursuant to the Loan Documents (including, without limitation,
Bank Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations.
Payment or acceptance of the increased interest rate provided in this Section l.4(c) is not a permitted alternative to timely payment
and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Adjustment to Interest Rate</U>. Each change in the interest rate applicable to any amounts payable under the Loan Documents
based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of such
change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Interest Computation</U>. Interest shall be computed as set forth on Schedule I hereto. In computing interest, the date of the
making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension
is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Fees.</B> Borrower shall pay to Bank:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Revolving Line Commitment Fee</U>. A fully earned, non-refundable commitment fee as set forth on Schedule I hereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Bank Expenses</U>. All Bank Expenses incurred through and after the Effective Date, when due (or, if no stated due date, upon
demand by Bank) provided that Bank Expenses consisting of reasonable attorneys&rsquo; fees (exclusive of expenses) for the documentation
and negotiation of this Agreement incurred as of the Effective Date shall not exceed $17,500 plus applicable VAT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">Unless otherwise provided
in this Agreement or in a separate writing by Bank, Borrower shall not be entitled to any credit, rebate, or repayment of any fees earned
by Bank pursuant to this Agreement notwithstanding any termination of this Agreement or the suspension or termination of Bank&rsquo;s
obligation to make loans and advances hereunder. Bank may deduct amounts owing by Borrower under the clauses of this Section 1.5 pursuant
to the terms of Section 1.7(c). Bank shall provide Borrower written notice of deductions made pursuant to the terms of the clauses of
this Section 1.5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Reserved.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Payments; Application of Payments; Debit of Accounts.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>All payments (including prepayments) to be made by Borrower under any Loan Document shall be made in immediately available funds
in Dollars, without setoff, counterclaim, or deduction, before 12:00 p.m. Pacific time on the date when due. Payments of principal and/or
interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day. When a payment
is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable,
shall continue to accrue until paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Bank has the exclusive right to determine the order and manner in which all payments with respect to the Obligations may be applied.
Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made
by Borrower to Bank or otherwise received by Bank under this Agreement when any such allocation or application is not specified elsewhere
in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Bank may debit any of Borrower&rsquo;s deposit accounts maintained with Bank, including the Designated Deposit Account, for principal
and interest payments or any other amounts Borrower owes Bank when due under the Loan Documents. These debits shall not constitute a set-off.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Change in Circumstances.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Increased Costs</U>. If any Change in Law shall: (i) impose, modify or deem applicable any reserve, special deposit, compulsory
loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or advances, loans or other credit
extended or participated in by, Bank, (ii) subject Bank to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses
(b) through (d) of the definition of Excluded Taxes, and (C) Connection Income Taxes) on its loans, loan principal, letters of credit,
commitment, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto, or (iii) impose on Bank
any other condition, cost or expense (other than Taxes) affecting this Agreement or Credit Extensions made by Bank, and the result of
any of the foregoing shall be to increase the cost to Bank of making, converting to, continuing or maintaining any Credit Extension (or
of maintaining its obligation to make any such Credit Extension), or to reduce the amount of any sum received or receivable by Bank hereunder
(whether of principal, interest or any other amount) then, upon written request of Bank, Borrower shall promptly pay to Bank such additional
amount or amounts as will compensate Bank (after taking into account any additional Taxes) for such additional costs incurred or reduction
suffered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b) <U>Capital Requirements</U>.
If Bank determines that any Change in Law affecting Bank regarding capital or liquidity requirements, has or would have the effect of
reducing the rate of return on Bank&rsquo;s capital as a consequence of this Agreement, the Revolving Line, any term loan facility, or
the Credit Extensions made by Bank to a level below that which Bank could have achieved but for such Change in Law (taking into consideration
Bank&rsquo;s policies with respect to capital adequacy and liquidity), then from time to time upon written request of Bank, Borrower
shall promptly pay to Bank such additional amount or amounts as will compensate Bank for any such reduction suffered.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Delay in Requests</U>. Failure or delay on the part of Bank to demand compensation pursuant to this Section 1.8 shall not constitute
a waiver of Bank&rsquo;s right to demand such compensation; provided that Borrower shall not be required to compensate Bank pursuant to
subsection (a) for any increased costs incurred or reductions suffered more than nine (9) months prior to the date that Bank notifies
Borrower of the Change in Law giving rise to such increased costs or reductions (except that if the Change in Law giving rise to such
increased costs or reductions is retroactive, then the nine (9) month period shall be extended to include the period of retroactive effect).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Taxes.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Payments Free of Taxes</U>. Any and all payments by or on account of any obligation of Borrower under any Loan Document shall
be made without deduction or withholding for any Taxes, except as required by Applicable Law. If any Applicable Law (as determined in
the good faith discretion of Borrower) requires the deduction or withholding of any Tax from any such payment by Borrower, then (i) Borrower
shall be entitled to make such deduction or withholding, (ii) Borrower shall timely pay the full amount deducted or withheld to the relevant
Governmental Authority in accordance with Applicable Law, and (iii) if such Tax is an Indemnified Tax, the sum payable by Borrower shall
be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable
to additional sums payable under this Section 1.9) Bank receives an amount equal to the sum it would have received had no such deduction
or withholding been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Payment of Other Taxes by Borrower</U>. Without limiting the provisions of subsection (a) above, Borrower shall timely pay any
Other Taxes to the relevant Governmental Authority in accordance with Applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Tax Indemnification</U>. Without limiting the provisions of subsections (a) and (b) above, Borrower shall, and does hereby,
indemnify Bank, within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes
imposed or asserted on or attributable to amounts payable under this Section 1.9) payable or paid by Bank or required to be withheld or
deducted from a payment to Bank and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment
or liability delivered to Borrower by Bank shall be conclusive absent manifest error.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Evidence of Payments</U>. As soon as practicable after any payment of Taxes by Borrower to a Governmental Authority pursuant
to this Section 1.9, Borrower shall deliver to Bank a certified copy of a receipt issued by such Governmental Authority evidencing such
payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Status of Bank</U>. If Bank (including any assignee or successor) is entitled to an exemption from or reduction of withholding
tax with respect to payments made under any Loan Document, it shall deliver to Borrower, at the time or times reasonably requested by
Borrower, such properly completed and executed documentation reasonably requested by Borrower as will permit such payments to be made
without withholding or at a reduced rate of withholding (including without limitation, such valid certificate issued by the Israeli Tax
Authority provided by Bank to Borrower, regarding the payment of withholding in connection with payments by ISR Borrower on account of
the Obligations). In addition, Bank, if reasonably requested by Borrower, shall deliver such other documentation prescribed by Applicable
Law or reasonably requested by Borrower as will enable Borrower to determine whether or not Bank is subject to backup withholding or information
reporting requirements. Without limiting the generality of the foregoing, Bank shall deliver whichever of IRS Form W-9, IRS Form W-8BEN-E,
IRS Form W-8ECI or W-8IMY is applicable, as well as any applicable supporting documentation or certifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>The agreements and obligations of Borrower contained in this Section 1.9 shall survive the termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Procedures for Borrowing</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Advances</U>. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set forth in
this Agreement (which must be satisfied no later than 12:00 p.m. Pacific time on the applicable Funding Date), to obtain an Advance, Borrower
(via an individual duly authorized by an Administrator) shall deliver Bank a notice (which shows, inter alia, for each Eligible Account,
the Account Debtor&rsquo;s, name, address, invoice amount, invoice date and invoice number) for each Eligible Account it offers. Bank
may rely on information set forth in or provided with such notice. In addition, upon Bank&rsquo;s request, Borrower shall deliver to Bank
any contracts, purchase orders, or other underlying supporting documentation with respect to such Eligible Account. Such notice shall
be made through Bank&rsquo;s online banking program, provided, however, if Borrower is not utilizing Bank&rsquo;s online banking program,
then such notice shall be in a written format acceptable to Bank that is executed by an Authorized Signer. In connection with any such
notification, Borrower shall deliver to Bank by electronic mail or through Bank&rsquo;s online banking program such reports and information,
including without limitation, sales journals, cash receipts journals, accounts receivable aging reports, as Bank may reasonably request.
Bank shall have received satisfactory evidence that the Board has approved that such Authorized Signer may provide such notices and request
Advances (which requirement may be deemed satisfied by the prior delivery of Borrowing Resolutions or a secretary&rsquo;s certificate
that certifies as to such Board approval).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Bank shall credit proceeds of a Credit Extension to the Designated Deposit Account. Bank may make Advances under this Agreement
based on instructions from an Authorized Signer or without instructions if such Advances are necessary to meet Obligations which have
become due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>2.
</B></FONT><B><U>CONDITIONS OF CREDIT EXTENSIONS</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2.1 Conditions Precedent
to Initial Credit Extension. </B>Bank&rsquo;s obligation to make the initial Credit Extension is subject to the condition precedent that
Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may
reasonably deem necessary or appropriate, including, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>duly executed Loan Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>duly executed Warrant in the form attached hereto as <B><U>Exhibit C</U></B>, together with a capitalization table and copies of
Borrower&rsquo;s equity documents; For avoidance of doubt, the Warrant shall only be issued upon the actual withdrawal of Advances by
Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>duly executed original signatures of ISR Borrower (together with ISR Borrower&rsquo;s stamp) to the ISR Debentures and duly executed
original notices to the Israeli Registrar of Companies for the registration of the ISR Debentures, as required for the registration of
the ISR Debentures;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Duly executed IP Agreements and IP Search results;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>duly executed Control Agreements, if required;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>US Borrower&rsquo;s Operating Documents of Borrower and long-form good standing certificates of Borrower certified by the Secretary
of State of the State of Delaware and the Secretary of State (or equivalent agency) of each other jurisdiction in which US Borrower is
qualified to conduct business, in each case as of a date no earlier than 30 days prior to the Effective Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>certificate duly executed by a Responsible Officer or secretary of each Borrower with respect to, each Borrower&rsquo;s (i) Operating
Documents and (ii) Borrowing Resolutions;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Reserved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>certified copies, dated as of a recent date, of financing statement and other lien filing searches, US Companies Registry searches
and Israel Companies Registrar searches, as Bank shall request, accompanied by written evidence (including any UCC termination statements)
that the Liens indicated in any such financing statements or other filings either constitute Permitted Liens or have been or, in connection
with the initial Credit Extension, will be terminated or released, in each case with respect to each Borrower;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>duly executed Perfection Certificate(s) of Borrower;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Intellectual Property search results and completed exhibits to the IP Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>A legal opinion of each Borrower&rsquo;s counsel dated as of the Effective Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(m) evidence satisfactory
to Bank that the insurance policies and endorsements required by Section 5.8 hereof are in full force and effect, together with appropriate
evidence showing lender loss payable and additional insured clauses or endorsements in favor of Bank;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>evidence satisfactory to Bank that all filings required to have been made pursuant to the ISR Debentures and the other Loan Documents
have been made to secure a first-ranking Lien in favor of the Bank on the Collateral, and all other actions required to have been taken
by Borrower or any other party prior to the initial Credit Extension shall have been taken and all consents and other authorizations shall
have been obtained prior to the initial Credit Extension, all in accordance with the terms of the ISR Debentures and the other Loan Documents;
and that a first-ranking Liens have been registered in favor of the Bank pursuant to the ISR Debentures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Reserved;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>The Initial Audit has been conducted and completed to Bank&rsquo;s satisfaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>with respect to the initial Advance, a completed Borrowing Base Statement (and any schedules related thereto and including any
other information requested by Bank with respect to Borrower&rsquo;s Accounts) and a full set of the monthly reporting package provided
under Sections 5.3(a) through 5.3(c) hereunder;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>payment of the fees and Bank Expenses then due as specified in Section 1.5 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Conditions Precedent to all Credit Extensions.</B> Bank&rsquo;s obligation to make each Credit Extension, including the initial
Credit Extension, is subject to the following conditions precedent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>receipt of Borrower&rsquo;s Credit Extension request and the related materials and documents as required by and in accordance with
Section 1.10;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>the representations and warranties in this Agreement and the other Loan Documents (including the IP Agreements and in the ISR Debentures
shall be true and correct in all material respects as of the date of any Credit Extension request and as of the Funding Date of each Credit
Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already
are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly
referring to a specific date shall be true and correct in all material respects as of such date, and no Default or Event of Default shall
have occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrower&rsquo;s representation and warranty
on that date that the representations and warranties in this Agreement the other Loan Documents (including the IP Agreements and in the
ISR Debentures) remain true and correct in all material respects; provided, however, that such materiality qualifier shall not be applicable
to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further
that those representations and warranties expressly referring to a specific date shall be true and correct in all material respects as
of such date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>a Material Adverse Change shall not have occurred and be continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><B>2.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Covenant to Deliver.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower shall deliver to Bank each item required to be delivered to Bank under this Agreement as a condition precedent to any
Credit Extension. A Credit Extension made prior to the receipt by Bank of any such item shall not constitute a waiver by Bank of Borrower&rsquo;s
obligation to deliver such item, and the making of any Credit Extension in the absence of a required item shall be in Bank&rsquo;s sole
discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>3.
</B></FONT><B><U>CREATION OF SECURITY INTEREST</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>3.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Grant of Security Interest.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing security interest
in, and pledges to Bank, the Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower acknowledges that it previously has entered, or may in the future enter, into Bank Services Agreements with Bank. Regardless
of the terms of any Bank Services Agreement, Borrower agrees that any amounts Borrower owes Bank thereunder shall be deemed to be Obligations
hereunder and that it is the intent of Borrower and Bank to have all such Obligations secured by the first priority perfected security
interest in the Collateral granted herein and by the ISR Debentures and any and all other security agreements, mortgages or other collateral
granted to Bank by Borrower as security for the Obligations, now or in the future (subject to Permitted Liens that are permitted to have
priority over Bank&rsquo;s Liens hereunder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>3.2 Debentures.</B>
Borrower undertakes to create, in favor of Bank, a first ranking floating charge over all of the present and future assets of ISR Borrower
whether now existing or hereafter created (including without limitation Intellectual Property), and a first ranking fixed charge over
its registered and unissued share capital, its reputation and goodwill, Intellectual Property, equipment and other fixed assets and any
tax benefit it may have, in accordance with a debentures of floating charge and fixed charge in the forms of Debenture attached as <B><U>Exhibit
B-1</U></B> and <B><U>Exhibit&nbsp;B-2</U></B> respectively (as amended, modified or restated from time to time, jointly, the <B>&ldquo;ISR
Debentures&rdquo; </B>and each, an <B>&ldquo;ISR Debenture&rdquo;</B>). In addition, Borrower undertakes to create within twenty (20)
days of the end of each financial quarter, and more often if requested at the sole and absolute discretion of Bank, a first ranking fixed
charge over (i) each Account which is outstanding at such time and with respect of which Advances are or have been made, (ii) ISR Borrower&rsquo;s
rights, whether then existing or thereafter created, to receive funds from its customers, (iii) any additional applications for registration
of Intellectual Property of ISR Borrower or additional registered Intellectual Property of ISR Borrower and any additional unregistered
Intellectual Property developed by ISR Borrower, if any, and, and (iv) Borrower&rsquo;s Equipment, all in accordance with a debenture
of fixed charge in the form of the Debenture attached hereto as <B>Exhibit B-2</B>) (or in the form of an amendment to the existing ISR
Debenture, at the Bank&rsquo;s discretion; each such new and/or amended debenture shall also be included in the definition of the term
&ldquo;ISR Debenture&rdquo; herein). Borrower warrants and represents that the charges of the ISR Debentures, upon the filing thereof,
shall be first priority fixed and floating charges (as provided therein) in the Collateral. In addition, Borrower undertakes to create,
upon Bank&rsquo;s written request to be made at Bank&rsquo;s sole discretion, a first ranking fixed charge over its equity holdings in
the shares of each of its Subsidiaries, whether constituting Subsidiaries as of the Effective Date or thereafter becoming Subsidiaries
of Borrower.<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>3.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Authorization to File Financing Statements.</B> Borrower hereby authorizes Bank to file financing statements, without notice to
Borrower, with all jurisdictions deemed necessary or appropriate by Bank to perfect or protect Bank&rsquo;s interest or rights hereunder,
including a notice that any disposition of the Collateral, by either Borrower or any other Person, shall be deemed to violate the rights
of Bank under the Code. Such financing statements may indicate the Collateral as &ldquo;all assets of the Debtor&rdquo; or words of similar
effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>3.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Termination.</B> If this Agreement is terminated, Bank&rsquo;s Lien in the Collateral shall continue until the Obligations (other
than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate
indemnity obligations) and at such time as Bank&rsquo;s obligation to make Credit Extensions has terminated, Bank shall, at Borrower&rsquo;s
sole cost and expense, terminate its security interest in the Collateral and all rights therein shall revert to Borrower. In the event
(a) all Obligations (other than inchoate indemnity obligations), except for Bank Services, are satisfied in full, and (b) this Agreement
is terminated, Bank shall terminate the security interest granted herein upon Borrower providing cash collateral acceptable to Bank in
its sole discretion for Bank Services, if any. In the event such Bank Services consist of outstanding Letters of Credit, Borrower shall
provide to Bank cash collateral in an amount equal to at least (x) 105.0% of the face amount of all such Letters of Credit denominated
in Dollars and (y) 115.0% of the Dollar Equivalent of the face amount of all such Letters of Credit denominated in a Foreign Currency,
plus, in each case, all interest, fees, and costs due or estimated by Bank to become due in connection therewith, to secure all of the
Obligations relating to such Letters of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="text-transform: uppercase">4.</FONT> <U>REPRESENTATIONS AND WARRANTIES</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">Borrower represents and
warrants as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>4.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Due Organization, Authorization; Power and Authority.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower and each of its Subsidiaries are each duly existing and in good standing as a Registered Organization in their respective
jurisdiction of formation and are qualified and licensed to do business and is in good standing in any jurisdiction in which the conduct
of their respective business or their ownership of property requires that they be qualified except where the failure to do so could not
reasonably be expected to have a material adverse effect on Borrower&rsquo;s business or operations. ISR Borrower is a limited liability
company, duly organized and validly existing and not in a status of a <I>&lsquo;breaching company&rsquo; </I>(as such term is defined
under the Israeli Companies Law 5759), under the laws of the State of Israel and has the power to carry on its business as it is now being
conducted and to owns its property and other assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b) All information set forth
on the Perfection Certificate pertaining to Borrower and each of its Subsidiaries is true and correct (it being understood and agreed
that Borrower may from time to time update certain information in the Perfection Certificate after the Effective Date to the extent permitted
by one or more specific provisions in this Agreement and the Perfection Certificate shall be deemed to be updated to the extent such
notice is provided to Bank of such permitted update).<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>The execution, delivery and performance by Borrower and each of its Subsidiaries of the Loan Documents to which it is a party have
been duly authorized, and do not (i) conflict with any of Borrower&rsquo;s or any such Subsidiary&rsquo;s organizational documents, (ii)
contravene, conflict with, constitute a default under or violate any material Applicable Law, (iii) contravene, conflict with or violate
any applicable order, writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any
of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration, or
qualification with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been
obtained and are in full force and effect), or (v) conflict with, contravene, constitute a default or breach under, or result in or permit
the termination or acceleration of, any material agreement by which Borrower or any of its Subsidiaries is bound. Neither Borrower nor
any of its Subsidiaries are in default under any agreement to which it is a party or by which it is bound in which the default could reasonably
be expected to have a material adverse effect on Borrower&rsquo;s or any of its Subsidiary&rsquo;s business or operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><B>4.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Collateral.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>The security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the
Collateral and a first priority fixed and floating charges as set forth in the ISR Debentures (subject to Permitted Liens that are permitted
to have priority over Bank&rsquo;s Liens hereunder). Borrower has good title to, rights in, and the power to transfer each item of the
Collateral upon which it purports to grant a Lien hereunder and under the ISR Debentures, free and clear of any and all Liens except Permitted
Liens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower has no Collateral Accounts at or with any bank or financial institution other than Bank or Bank&rsquo;s Affiliates except
for the Collateral Accounts described in the Perfection Certificate delivered to Bank in connection herewith and which Borrower has taken
such actions as are necessary to give Bank a perfected security interest therein, and, as provided in the ISR Debentures, fixed and floating
charges thereon, pursuant to the terms of Section 5.9(c). The Accounts are bona fide, existing obligations of the Account Debtors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>The Collateral is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection
Certificate or as permitted pursuant to Section 6.2. None of the components of the Collateral shall be maintained at locations other than
as provided in the Perfection Certificate or as permitted pursuant to Section 6.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(d) All Inventory is in all
material respects of good and marketable quality, free from material defects.<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower owns, or possesses the right to use to the extent necessary in its business, all Intellectual Property, licenses and other
intangible assets that are used in the conduct of its business as now operated, except to the extent that such failure to own or possess
the right to use such asset would not reasonably be expected to have a material adverse effect on Borrower&rsquo;s business or operations,
and no such asset, to the best knowledge of Borrower, conflicts with the valid Intellectual Property, license, or intangible asset of
any other Person to the extent that such conflict could reasonably be expected to have a material adverse effect on Borrower&rsquo;s business
or operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Except as noted on the Perfection Certificate or for which notice has been given to Bank pursuant to and in accordance with Section
5.1 l(c), Borrower is not a party to, nor is it bound by, any Restricted License.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.3
Accounts Receivable.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>For each Account included in the most recent Borrowing Base Statement, on the date each Advance is requested and made, such Account
shall be an Eligible Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>All statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing the Eligible
Accounts are and shall be true and correct and all such invoices, instruments and other documents, and all of Borrower&rsquo;s Books are
genuine and in all respects what they purport to be. Whether or not an Event of Default has occurred and is continuing, Bank may notify
any Account Debtor owing Borrower money of Bank&rsquo;s security interest in such funds and verify the amount of such Eligible Account.
All sales and other transactions underlying or giving rise to each Eligible Account shall comply in all material respects with all Applicable
Law. Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are Eligible Accounts
in any Borrowing Base Statement. To the best of Borrower&rsquo;s knowledge, all signatures and endorsements on all documents, instruments,
and agreements relating to all Eligible Accounts are genuine, and all such documents, instruments and agreements are legally enforceable
in accordance with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Litigation.</B> Other than as set forth in the Perfection Certificate or as disclosed to Bank pursuant to Section 5.30), there
are no actions, investigations or proceedings pending or, to the knowledge of any Responsible Officer, threatened in writing by or against
Borrower or any of its Subsidiaries involving more than, individually or in the aggregate, $50,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.5 Financial Statements;
Financial Condition.</B> All consolidated financial statements for Borrower and any of its Subsidiaries delivered to Bank by submission
to the Financial Statement Repository or otherwise submitted to Bank fairly present in all material respects Borrower&rsquo;s consolidated
financial condition and Borrower&rsquo;s consolidated results of operations for the periods covered thereby, subject, in the case of
unaudited financial statements, to normal year-end adjustments and the absence of footnote disclosures of the most recent financial statements
submitted to the Financial Statement Repository or otherwise submitted to Bank. There has not been any material deterioration in Borrower&rsquo;s
consolidated financial condition since the date of the most recent financial statements submitted to the Financial Statement Repository
or otherwise submitted to Bank.<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Solvency.</B> The fair salable value of Borrower&rsquo;s consolidated assets (including goodwill minus disposition costs) exceeds
the fair value of Borrower&rsquo;s liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement;
and Borrower and each of its Subsidiaries are able to pay their debts (including trade debts) as they mature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Regulatory Compliance.</B> Borrower is not an &ldquo;investment company&rdquo; or a company &ldquo;controlled&rdquo; by an &ldquo;investment
company&rdquo; under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending
credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower and each of its Subsidiaries
(a) have complied in all material respects with all Applicable Law, and (b) have not violated any Applicable Law the violation of which
could reasonably be expected to have a material adverse effect on Borrower&rsquo;s business or operations. Borrower and each of its Subsidiaries
have duly complied with, and their respective facilities, business, assets, property, leaseholds, real property and Equipment are in compliance
with, Environmental Laws, except where the failure to do so could not reasonably be expected to have a material adverse effect on Borrower&rsquo;s
business or operations; there have been no outstanding citations, notices or orders of non-compliance issued to Borrower or any of its
Subsidiaries or relating to their respective facilities, businesses, assets, property, leaseholds, real property or Equipment under such
Environmental Laws. Borrower and each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations
or filings with, and given all notices to, all Governmental Authorities that are necessary to continue their respective businesses as
currently conducted, except where the failure to obtain or make or file the same would not reasonably be expected to have a material adverse
effect on Borrower&rsquo;s business or operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Subsidiaries; Investments. </B>Borrower does not own any stock, partnership, or other ownership interest or other equity securities
except for Permitted Investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>4.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Tax Returns and Payments; Pension Contributions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower and each of its Subsidiaries have timely filed, or submitted extensions for, all required tax returns and reports, and
Borrower and each of its Subsidiaries have timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions
owed by Borrower and each of its Subsidiaries except (a) to the extent such taxes are being contested in good faith by appropriate proceedings
promptly instituted and diligently conducted, so long as such reserve or other appropriate provision, if any, as shall be required in
conformity with GAAP shall have been made therefor, or (b) if such taxes, assessments, deposits and contributions do not, individually
or in the aggregate, exceed $10,000. Borrower is unaware of any claims or adjustments proposed for any of Borrower&rsquo;s or any of its
Subsidiary&rsquo;s prior tax years which could result in additional taxes becoming due and payable by Borrower or any of its Subsidiaries
in excess of$10,000 in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.75in">(b) Borrower and each of
its Subsidiaries have paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance
with their terms, and neither Borrower nor any of its Subsidiaries has withdrawn from participation in, and has not permitted partial
or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected
to result in any liability of Borrower or any of its Subsidiaries, including any liability to the Pension Benefit Guaranty Corporation
or its successors or any other Governmental Authority.<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>IIA and Investment Center. </B>As of the Effective Date, Borrower did not receive any grants, funds or benefits (including, but
not limited to, tax benefits) from IIA (formerly known as, the National Authority for Technological Innovation) or Investment Center,
or the Binational Industrial Research and Development Foundation or any other Governmental Authority except as provided in <U>Schedule
4.10</U>. Borrower is not obligated to pay any royalties or any other payments to the IIA or Investment Center or the Bi national Industrial
Research and Development Foundation or any other Governmental Authority, except as provided in <U>Schedule 4.10</U>. The transactions
contemplated under this Agreement, the Debentures and any other Loan Document (including the realization of the Charged Property) are
not subject to any right and do not require the approval of the IIA or Investment Center or the Binational Industrial Research and Development
Foundation or any other Governmental Authority, except as provided in <U>Schedule 4.10</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Full Disclosure. </B>No written representation, warranty or other statement of Borrower or any of its Subsidiaries in any report,
certificate or written statement submitted to the Financial Statement Repository or otherwise submitted to Bank as of the date such representation,
warranty, or other statement was made, taken together with all such reports, certificates and written statements submitted to the Financial
Statement Repository or otherwise submitted to Bank, contains any untrue statement of a material fact or omits to state a material fact
necessary to make the statements contained in the reports, certificates or written statements not misleading in light of the circumstances
under which they were made (it being recognized by Bank that the projections and forecasts provided by Borrower or any of its Subsidiaries
in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered
by such projections and forecasts may differ from the projected or forecasted results).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4.12 Sanctions. </B>Neither
Borrower nor any of its Subsidiaries is: (a) in violation of any Sanctions; or (b) a Sanctioned Person. Neither Borrower nor any of its
Subsidiaries, directors, officers, employees, agents or Affiliates: (i) conducts any business or engages in any transaction or dealing
with any Sanctioned Person, including making or receiving any contribution of funds, goods or services to or for the benefit of any Sanctioned
Person; (ii) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to
any Sanctions; (iii) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding,
or attempts to violate, any of the prohibitions set forth in any Sanctions; or (iv) otherwise engages in any transaction that could cause
Bank to violate any Sanctions.<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> <FONT STYLE="text-transform: uppercase">5.</FONT> <U>AFFIRMATIVE COVENANTS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower shall do all of
the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Use of Proceeds. </B>Cause the proceeds of the Credit Extensions to be used solely (a) as working capital or (b) to fund its general
business purposes, and not for personal, family, household or agricultural purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Government Compliance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Maintain its and all of its Subsidiaries&rsquo; legal existence (except as permitted under Section 6.3 with respect to Subsidiaries
only) and good standing in their respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure
to so qualify would reasonably be expected to have a material adverse effect on Borrower&rsquo;s business or operations. Borrower shall
comply, and have each Subsidiary comply, in all material respects, with all laws, ordinances and regulations to which it is subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Obtain all of the Governmental Approvals necessary for the performance by Borrower and each of its Subsidiaries of their obligations
under the Loan Documents to which it is a party, including any grant of a security interest to Bank. Borrower shall promptly provide copies
of any such obtained Governmental Approvals to Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Financial Statements, Reports. </B>Deliver to Bank by submitting to the Financial Statement Repository:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Borrowing Base Statement</U>. A Borrowing Base Statement (and any schedules related thereto and including any other information
requested by Bank with respect to Borrower&rsquo;s Accounts), within 7 days after the end of each month and with each Advance made hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Accounts Receivable and Accounts Payable</U>. Within 15 days after the end of each month, (A) monthly accounts receivable agings,
aged by invoice date, (B) monthly accounts payable agings, aged by invoice date, and outstanding or held check registers, if any, (C)
monthly reconciliations of accounts receivable agings (aged by invoice date), Deferred Revenue report, and general ledger;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>As soon as available, but no later than Thirty (30) days after the last day of each month, a company prepared consolidated balance
sheet, cash flow and income statement (including P&amp;L), covering Borrower&rsquo;s consolidated operations for such month in a form
reasonably acceptable to Bank (the <B>&ldquo;Monthly Financial Statements&rdquo;</B>);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Compliance Statement</U>. Within Thirty (30) days after the last day of each month and together with the statements set forth
in Section 5.3(c), a duly completed Compliance Statement, confirming that as of the end of such month, Borrower was in full compliance
with all of the terms and conditions of this Agreement, and setting forth calculations showing compliance with the financial covenants
set forth in this Agreement and such other information as Bank may reasonably request, including, without limitation, a statement that
at the end of such month there were no held checks;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(e) <U>Annual Operating Budget
and Financial Projections</U>. As soon as available, and at least annually, within Ten (10) days following Borrower&rsquo;s board of
directors approval and contemporaneously with any updates or amendments thereto, (i) capitalization tables, (ii) annual operating budgets
(including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (iii)
annual financial projections for the following fiscal year (on a quarterly basis), in each case as approved by the Board, together with
any related business forecasts used in the preparation of such annual financial projections;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Board Materials</U>. Copies of all notices, minutes, consents, presentations and other materials and information that it provides
to its board of directors at the same time of the provision of such materials to the directors;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Annual Audited Financial Statements</U>. As soon as available, and in any event within One hundred and Fifty (150) days following
the end of Borrower&rsquo;s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together
with an unqualified opinion on the financial statements from an independent certified public accounting firm reasonably acceptable to
Bank (provided that any firm associated with the &ldquo;Big Four&rdquo; accounting firms or an affiliate thereof is deemed acceptable
to Bank);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>SEC Filings</U>. In the event that Borrower or any of its Subsidiaries becomes subject to the reporting requirements under the
Exchange Act within five (5) days of filing, notification of the filing and copies of all periodic and other reports, proxy statements
and other materials filed by Borrower and/or any of its Subsidiaries or any Guarantor with the SEC, any Governmental Authority succeeding
to any or all of the functions of the SEC or with any national securities exchange, or distributed to its shareholders, as the case may
be. Documents required to be delivered pursuant to the terms hereof (to the extent any such documents are included in materials otherwise
filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which Borrower
or any of its Subsidiaries posts such documents, or provides a link thereto, on Borrower&rsquo;s or any of its Subsidiaries&rsquo; website
on the internet at Borrower&rsquo;s or any of its Subsidiaries&rsquo; website address; provided, however, Borrower shall promptly notify
Bank in writing (which may be by electronic mail) of the posting of any such documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Security Holder and Subordinated Debt Holder Reports</U>. Within five (5) days of delivery, copies of all statements, reports
and notices made available to Borrower&rsquo;s security holders or to any holders of Subordinated Debt (solely in their capacities as
security holders or holders of Subordinated Debt and not in any other role);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Beneficial Ownership Information</U>. Prompt written notice of any changes to the beneficial ownership information set out in
Section 2 of the Perfection Certificate. Borrower understands and acknowledges that Bank relies on such true, accurate and up-to-date
beneficial ownership information to meet Bank&rsquo;s regulatory obligations to obtain, verify and record information about the beneficial
owners of its legal entity customers;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Legal Action Notice</U>. Prompt written notice of any legal actions, investigations or proceedings pending or threatened in
writing against Borrower or any of its Subsidiaries that could reasonably be expected to result in damages or costs to Borrower or any
of its Subsidiaries of, individually or in the aggregate, $25,000 or more;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Tort Claim Notice</U>. If Borrower shall acquire a commercial tort claim, Borrower shall promptly notify Bank in a writing signed
by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof,
all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Government Filings</U>. Within five (5) days after the same are sent or received, copies of all correspondence, reports, documents
and other filings by Borrower or any of its Subsidiaries with any Governmental Authority regarding compliance with or maintenance of Governmental
Approvals or Applicable Law or that could reasonably be expected to have a material effect on any of the Governmental Approvals or otherwise
on the business of Borrower or any of its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Registered Organization</U>. If Borrower is not a Registered Organization as of the Effective Date but later becomes one, promptly
notify Bank of such occurrence and provide Bank with Borrower&rsquo;s organizational identification number;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Default</U>. Prompt written notice of the occurrence of a Default or Event of Default; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Other Information</U>. Promptly, from time to time, such other information regarding Borrower or any of its Subsidiaries or
compliance with the terms of any Loan Documents as reasonably requested by Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any submission by Borrower of a Compliance Statement,
a Borrowing Base Statement or any other financial statement submitted to the Financial Statement Repository pursuant to this Section 5.3
or otherwise submitted to Bank shall be deemed to be a representation by Borrower that (i) as of the date of such Compliance Statement,
Borrowing Base Statement or other financial statement, the information and calculations set forth therein are true and correct, (ii) as
of the end of the compliance period set forth in such submission, Borrower is in complete compliance with all required covenants except
as noted in such Compliance Statement, Borrowing Base Statement or other financial statement, as applicable, (iii) as of the date of such
submission, no Events of Default have occurred or are continuing, (iv) all representations and warranties other than any representations
or warranties that are made as of a specific date in Section 4 remain true and correct in all material respects as of the date of such
submission except as noted in such Compliance Statement, Borrowing Base Statement or other financial statement, as applicable, (v) as
of the date of such submission, Borrower and each of its Subsidiaries has timely filed all required tax returns and reports, and Borrower
has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as otherwise
permitted pursuant to the terms of Section 4.9, and (vi) as of the date of such submission, no Liens have been levied or claims made against
Borrower relating to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Bank.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Accounts Receivable.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Schedules and Documents Relating to Accounts</U>. Borrower shall deliver to Bank transaction reports and schedules of collections,
as provided in Section 5.3, on Bank&rsquo;s standard forms; provided, however, that Borrower&rsquo;s failure to execute and deliver the
same shall not affect or limit Bank&rsquo;s Lien and other rights in all of Borrower&rsquo;s Accounts, nor shall Bank&rsquo;s failure
to advance or lend against a specific Account affect or limit Bank&rsquo;s Lien and other rights therein. If requested by Bank, Borrower
shall furnish Bank with copies (or, at Bank&rsquo;s request, originals) of all contracts, orders, invoices, and other similar documents,
and all shipping instructions, delivery receipts, bills of lading, and other evidence of delivery, for any goods the sale or disposition
of which gave rise to such Accounts. In addition, Borrower shall deliver to Bank, on its request, the originals of all instruments, chattel
paper, security agreements, guarantees and other documents and property evidencing or securing any Accounts, in the same form as received,
with all necessary indorsements, and copies of all credit memos.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Disputes</U>. Borrower shall promptly notify Bank of all disputes or claims relating to Accounts. Borrower may forgive (completely
or partially), compromise, or settle any Account for less than payment in full, or agree to do any of the foregoing so long as (i) Borrower
does so in good faith, in a commercially reasonable manner, in the ordinary course of business, in arm&rsquo;s-length transactions, and
reports the same to Bank in the regular reports provided to Bank; (ii) no Event of Default has occurred and is continuing; and (iii) there
shall not be an Overadvance after taking into account all such discounts, settlements and forgiveness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Collection of Accounts</U>. Borrower shall direct Account Debtors to deliver or transmit all proceeds of Accounts into a lockbox
account, or such other &ldquo;blocked account&rdquo; as specified by Bank (either such account, the <B>&ldquo;Cash Collateral Account&rdquo;</B>).
Whether or not an Event of Default has occurred and is continuing, Borrower shall immediately deliver all payments on and proceeds of
Accounts to the Cash Collateral Account. Subject to Bank&rsquo;s right to maintain a reserve pursuant to Section 5.4(d), all amounts received
in the Cash Collateral Account shall be applied to immediately reduce the Obligations under the Revolving Line (unless Bank, in its sole
discretion, at times when an Event of Default exists, elects not to so apply such amounts). Borrower hereby authorizes Bank to transfer
to the Cash Collateral Account any amounts that Bank reasonably determines are proceeds of the Accounts (provided that Bank is under no
obligation to do so and this allowance shall in no event relieve Borrower of its obligations hereunder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(d) <U>Reserves</U>. Notwithstanding
any terms in this Agreement to the contrary, (i) Bank may, at any time, in its sole discretion, hold any proceeds of the Accounts and
any amounts in the Cash Collateral Account as a reserve to cover Borrower&rsquo;s Obligations to Bank (and to pay such Obligations when
due); and (ii) at times when a Default or an Event of Default exists, Bank may hold any proceeds of the Accounts and any amounts in the
Cash Collateral Account that are not applied to the Obligations pursuant to Section 5.4(c) above (including amounts otherwise required
to be transferred to Borrower&rsquo;s operating account with Bank) as a reserve to be applied to any Obligations regardless of whether
such Obligations are then due and payable.<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Returns</U>. Provided no Event of Default has occurred and is continuing, if any Account Debtor returns any Inventory to Borrower,
Borrower shall promptly (i) determine the reason for such return, (ii) issue a credit memorandum to the Account Debtor in the appropriate
amount in accordance with Borrower&rsquo;s customary business practices, and (iii) provide a copy of such credit memorandum to Bank, upon
request from Bank. In the event any attempted return occurs after the occurrence and during the continuance of any Event of Default, Borrower
shall hold the returned Inventory in trust for Bank, and immediately notify Bank of the return of the Inventory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Verifications; Confirmations; Credit Quality; Notifications</U>. Bank may, from time to time, (i) verify and confirm directly
with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or
Bank or such other name as Bank may choose, and notify any Account Debtor of Bank&rsquo;s security interest in such Account and/or (ii)
conduct a credit check of any Account Debtor to approve any such Account Debtor&rsquo;s credit. In addition, Bank may notify Account Debtors
to make payments in respect of Accounts directly to Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>No Liability</U>. Bank shall not be responsible or liable for any shortage or discrepancy in, damage to, or loss or destruction
of, any goods, the sale or other disposition of which gives rise to an Account, or for any error, act, omission, or delay of any kind
occurring in the settlement, failure to settle, collection or failure to collect any Account, or for settling any Account in good faith
for less than the full amount thereof, nor shall Bank be deemed to be responsible for any of Borrower&rsquo;s obligations under any contract
or agreement giving rise to an Account. Nothing herein shall, however, relieve Bank from liability for its own gross negligence or willful
misconduct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Remittance of Proceeds. </B>Except as otherwise provided in Section 5.4(c), deliver, in kind, all proceeds arising from the disposition
of any Collateral to Bank in the original form in which received by Borrower not later than the following Business Day after receipt by
Borrower, to be applied to the Obligations (a) prior to an Event of Default, pursuant to the terms of Section 5.4(c) hereof, and (b) after
the occurrence and during the continuance of an Event of Default, pursuant to the terms of Section 8.4 hereof; provided that, if no Event
of Default has occurred and is continuing, Borrower shall not be obligated to remit to Bank the proceeds of the sale of worn out or obsolete
Equipment disposed of by Borrower in good faith in an arm&rsquo;s length transaction for an aggregate purchase price of $25,000 or less
(for all such transactions in any fiscal year). Borrower agrees that it will not commingle proceeds of Collateral with any of Borrower&rsquo;s
other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for
Bank. Nothing in this Section 5.5 limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Taxes; Pensions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Timely file, and require each of its Subsidiaries to timely file (in each case, unless subject to a valid extension), all required
tax returns and reports and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes,
assessments, deposits and contributions owed by Borrower and each of its Subsidiaries, except for deferred payment of any taxes contested
pursuant to the terms of Section 4.9(a) hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments,
and pay, and require each of its Subsidiaries to pay, all amounts necessary to fund all present pension, profit sharing and deferred compensation
plans in accordance with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>To the extent Borrower or any of its Subsidiaries defers payment of any contested taxes, (i) notify Bank in writing of the commencement
of, and any material development in, the proceedings, and (ii) post bonds or take any other steps required to prevent the Governmental
Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a &ldquo;Permitted Lien.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Access to Collateral; Books and Records. </B>At reasonable times, on one (1) Business Day&rsquo;s notice (provided no notice is
required if an Event of Default has occurred and is continuing), Bank, or its agents, shall have the right to inspect the Collateral and
the right to audit and copy Borrower&rsquo;s Books. Such inspections and audits shall be conducted as frequently as Bank determines in
its sole discretion that conditions warrant, but are expected to be conducted no more often than once every twelve (12) months, unless
an Event of Default has occurred and is continuing, in which case such inspections and audits shall occur as often as Bank shall determine
is necessary. The foregoing inspections and audits shall be conducted at Borrower&rsquo;s expense and the charge therefor shall be $1,000.00
per person per day (or such higher amount as shall represent Bank&rsquo;s then-current standard charge for the same), plus out-of-pocket
expenses, but in any event shall not exceed $5,000 plus out-of-pocket expenses per each inspection. In the event Borrower and Bank schedule
an audit more than eight (8) days in advance, and Borrower cancels or seeks to or reschedules the audit with less than eight (8) days
written notice to Bank, then (without limiting any of Bank&rsquo;s rights or remedies) Borrower shall pay Bank a fee of $2,000.00 plus
any out-of-pocket expenses incurred by Bank to compensate Bank for the anticipated costs and expenses of the cancellation or rescheduling.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Insurance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower&rsquo;s industry and location
and as Bank may reasonably request. Insurance policies shall be in a form, with financially sound and reputable insurance companies that
are not Affiliates of Borrower, and in amounts that are satisfactory to Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>All property policies shall have a lender&rsquo;s loss payable endorsement showing Bank as lender loss payee. All liability policies
shall show, or have endorsements showing, Bank as an additional insured. Bank shall be named as lender loss payee and/or additional insured
with respect to any such insurance providing coverage in respect of any Collateral. With respect to any insurance policy of ISR Borrower,
Bank shall be designated as a &lsquo;<I>Motav&rsquo; </I>in the meaning and for the purposes of the Israeli Insurance Contract Law 5741<B>-</B>1981.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Ensure that proceeds payable under any property policy are, at Bank&rsquo;s option, payable to Bank on account of the Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(d) At Bank&rsquo;s request,
Borrower shall deliver certified copies of insurance policies and evidence of all premium payments. Each provider of any such insurance
required under this Section 5.7 shall agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished
to Bank, that it will give Bank 30 days prior written notice before any such policy or policies shall be canceled or altered in any material
respect. If Borrower fails to obtain insurance as required under this Section 5.7 or to pay any amount or furnish any required proof
of payment to third persons and Bank, Bank may make all or part of such payment or obtain such insurance policies required in this Section
5.7, and take any action under the policies Bank deems prudent.<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Accounts.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Maintain all of Borrower&rsquo;s and any of its Subsidiaries&rsquo; primary operating accounts, depository accounts, securities/investment
accounts, and all of their non-shekel cash with Bank or Bank&rsquo;s Affiliates Notwithstanding the foregoing, (i) ISR Borrower may maintain
accounts with financial institutions in Israel so long as funds contained therein shall be solely in New Israeli Shekels; (ii) Borrower
may maintain payment transmitters accounts with PayPal providers up to an amount not to exceed in the aggregate Thirty Five Thousand Dollars
($35,000); and (iii) the Russian Subsidiary may maintain accounts with other financial institutions in Russia so long as funds contained
therein shall be (i) in Russian Rubles, and (ii) in Dollars, up to an amount equal to One Hundred Fifty Thousand Dollars ($150,000). Any
Guarantor shall maintain all depository, operating and securities/investment accounts with Bank and Bank&rsquo;s Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>In addition to the foregoing, Borrower, any Subsidiary of Borrower and any Guarantor, shall obtain any non-shekel business credit
card, letter of credit and cash management services from Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>In addition to and without limiting the restrictions in (a), Borrower shall provide Bank five (5) days prior written notice before
establishing any Collateral Account at or with any bank or financial institution other than Bank or Bank&rsquo;s Affiliates. For each
Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial institution (other than
Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument
with respect to such Collateral Account to perfect Bank&rsquo;s Lien in such Collateral Account in accordance with the terms hereunder
which Control Agreement may not be terminated without the prior written consent of Bank. The provisions of the previous sentence shall
not apply to (i) deposit accounts exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for
the benefit of Borrower&rsquo;s employees and identified to Bank by Borrower as such.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Reserved.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Protection and Registration of Intellectual Property Rights.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>(i) Protect, defend and maintain the validity and enforceability of Borrower&rsquo;s and each Subsidiary&rsquo;s Intellectual Property,
except to the extent that such failure to do so would not reasonably be expected to have a material adverse effect on Borrower&rsquo;s
business or operations; (ii) promptly advise Bank in writing of infringements or any other event that could reasonably be expected to
materially and adversely affect the value Borrower&rsquo;s and each Subsidiary&rsquo;s Intellectual Property; and (iii) not allow any
Intellectual Property material to Borrower&rsquo;s or any Subsidiary&rsquo;s business to be abandoned, forfeited or dedicated to the public
without Bank&rsquo;s written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>If Borrower (i) obtains any Patent, registered Trademark, registered Copyright, registered mask work, or any pending application
for any of the foregoing, whether as owner, licensee or otherwise, or (ii) applies for any Patent or the registration of any Trademark,
then Borrower shall provide written notice thereof to Bank within one (1) Business Day and shall execute such intellectual property security
agreements and other documents and take such other actions as Bank may request in its commercially reasonable discretion to perfect and
maintain a first priority perfected security interest in favor of Bank in such property within five (5) days of such request. If Borrower
intends to register any Copyrights or mask works in the United States Copyright Office, Borrower shall: (x) provide Bank with at least
15 days prior written notice of Borrower&rsquo;s registration of such Copyrights or mask works together with a copy of the application
it intends to file with the United States Copyright Office (excluding exhibits thereto); (y) prior to the date of registration of the
Copyrights or mask works described in (x), execute an intellectual property security agreement and such other documents and take such
other actions as Bank may request in its commercially reasonable discretion to perfect and maintain a first priority perfected security
interest in favor of Bank in such Copyrights or mask works; and (z) record such intellectual property security agreement with the United
States Copyright Office contemporaneously with filing the Copyright or mask work application(s) with the United States Copyright Office.
Borrower shall promptly provide to Bank copies of all applications that it files for Patents or for the registration of Trademarks, Copyrights
or mask works, together with evidence of the recording of the intellectual property security agreement required for Bank to perfect and
maintain a first priority perfected security interest in such property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Provide written notice to Bank within ten (10) days of entering or becoming bound by any Restricted License (other than over-the-counter
software that is commercially available to the public). Borrower shall take such steps as Bank requests to obtain the consent of, or waiver
by, any person whose consent or waiver is necessary for (i) any such Restricted License to be deemed &ldquo;Collateral&rdquo; and for
Bank to have a security interest in it that might otherwise be restricted or prohibited by law or by the terms of any such Restricted
License, whether now existing or entered into in the future, and (ii) Bank to have the ability in the event of a liquidation of any Collateral
to dispose of such Collateral in accordance with Bank&rsquo;s rights and remedies under this Agreement and the other Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><B>5.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Litigation Cooperation. </B>From the date hereof and continuing through the termination of this Agreement, make available to Bank,
without expense to Bank, Borrower and its officers, employees and agents and Borrower&rsquo;s books and records, to the extent that Bank
may deem them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against Bank with respect
to any Collateral or relating to Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT> Online Banking.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Utilize
Bank&rsquo;s online banking platform for all matters requested by Bank which shall include, without limitation (and without request
by Bank for the following matters), uploading information pertaining to Accounts and Account Debtors, requesting approval for
exceptions, requesting Credit Extensions, and uploading financial statements and other reports required to be delivered by this
Agreement (including, without limitation, those described in Section 5.3 of this Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Comply with the terms of Bank&rsquo;s Online Banking Agreement as in effect from time to time and ensure that all persons utilizing
Bank&rsquo;s online banking platform are duly authorized to do so by an Administrator. Bank shall be entitled to assume the authenticity,
accuracy and completeness of any information, instruction or request for a Credit Extension submitted via Bank&rsquo;s online banking
platform and to further assume that any submissions or requests made via Bank&rsquo;s online banking platform have been duly authorized
by an Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.14 Grants. </B>Borrower
shall obtain the prior written consent of Bank before receiving any new grants, funds or benefits, or filing for an application to
receive funding from the IIA or the Investment Center or the Binational Industrial Research and Development Foundation or any other
Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.15 Formation or
Acquisition of Subsidiaries.</B> Notwithstanding and without limiting the negative covenants contained in Sections 6.3 and 6.7
hereof, at the time that Borrower or any Guarantor forms any Subsidiary or acquires any Subsidiary after the Effective Date
(including, without limitation, pursuant to a Division), Borrower and such Guarantor shall (a) cause such new Subsidiary to provide
to Bank a joinder to this Agreement to become a co-borrower hereunder or a guaranty to become a Guarantor hereunder (as determined
by Bank in its sole discretion), together with documentation, all in form and substance satisfactory to Bank (including being
sufficient to grant Bank a first priority Lien (subject to Permitted Liens) in and to the assets of such newly formed or acquired
Subsidiary), (b) provide to Bank appropriate certificates and powers and financing statements, pledging all of the direct or
beneficial ownership interest in such new Subsidiary, in form and substance satisfactory to Bank; and (c) provide to Bank all other
documentation in form and substance satisfactory to Bank, including one or more opinions of counsel satisfactory to Bank, which in
its opinion is appropriate with respect to the execution and delivery of the applicable documentation referred to above. Any
document, agreement, or instrument executed or issued pursuant to this Section 5.15 shall be a Loan Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.16<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Inventory; Returns. </B>Keep all Inventory in good and marketable condition, free from material defects. Returns and allowances
between Borrower and its Account Debtors shall follow Borrower&rsquo;s customary practices as they exist at the Effective Date. Borrower
shall promptly notify Bank of all returns, recoveries, disputes and claims that involve more than $25,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.17<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT> Further Assurances. </B>Execute any further instruments and take such further action as Bank reasonably requests to perfect, protect,
ensure the priority of or continue Bank&rsquo;s Lien on the Collateral or to effect the purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5.18<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Sanctions. </B>(a) Not, and not permit any of its Subsidiaries to, engage in any of the activities described in Section 4.12 in
the future; (b) not, and not permit any of its Subsidiaries to, become a Sanctioned Person; (c) ensure that the proceeds of the Obligations
are not used to violate any Sanctions; and (d) deliver to Bank any certification or other evidence requested from time to time by Bank
in its sole discretion, confirming each such Person&rsquo;s compliance with this Section 5.18. In addition, have implemented, and will
consistently apply while this Agreement is in effect, procedures to ensure that the representations and warranties in Section 4.12 remain
true and correct while this Agreement is in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="text-transform: uppercase">6.</FONT> <U>NEGATIVE COVENANTS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower shall not do any
of the following without Bank&rsquo;s prior written consent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Dispositions. </B>Convey, sell, lease, transfer, assign, or otherwise dispose of (including, without limitation, pursuant to a
Division) (collectively, <B>&ldquo;Transfer&rdquo;</B>), or permit any of its Subsidiaries to Transfer, all or any part of its business
or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn- out or obsolete Equipment that is,
in the reasonable judgment of Borrower, no longer economically practicable to maintain or useful in the ordinary course of business of
Borrower; (c) consisting of Permitted Liens and Permitted Investments; (d) consisting of the sale or issuance of any stock, partnership,
membership, or other ownership interest or other equity securities of Borrower permitted under Section 6.2 of this Agreement; (e) consisting
of Borrower&rsquo;s or its Subsidiaries&rsquo; use or transfer of money or Cash Equivalents in a manner that is not prohibited by the
terms of this Agreement or the other Loan Documents; and (f) of non-exclusive licenses for the use of the property of Borrower or its
Subsidiaries in the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.2 Changes in
Business, Management, Control, or Business Locations. </B>(a) Engage in or permit any of its Subsidiaries to engage in any business
other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b)
liquidate or dissolve or permit any of its Subsidiaries to liquidate or dissolve; (c) fail to provide notice to Bank of any Key
Persons departing from or ceasing to be employed by Borrower within five (5) days after their departure from Borrower; (d) permit,
allow or suffer to occur any Change in Control; or (e) without at least 30 days prior written notice to Bank, (i) add any new
offices or business locations, including warehouses (unless such new offices or business locations contain less than $10,000 in
Borrower&rsquo;s assets or property) or deliver any portion of the Collateral valued, individually or in the aggregate, in excess
of$10,000 to a bailee at a location other than to a bailee and at a location already disclosed in the Perfection Certificate, (ii)
change its jurisdiction of organization, (iii) change its organizational structure or type, (iv) change its legal name, or (v)
change any organizational number (if any) assigned by its jurisdiction of organization. If Borrower intends to add any new offices
or business locations, including warehouses, containing in excess of$10,000 of Borrower&rsquo;s assets or property, then Borrower
will cause the landlord of any such new offices or business locations, including warehouses, to execute and deliver a landlord
consent in form and substance satisfactory to Bank. If Borrower intends to deliver any portion of the Collateral valued,
individually or in the aggregate, in excess of$10,000 to a bailee, and Bank and such bailee are not already parties to a bailee
agreement governing both the Collateral and the location to which Borrower intends to deliver the Collateral, then Borrower will
cause such bailee to execute and deliver a bailee agreement in form and substance satisfactory to Bank.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Mergers or Acquisitions. </B>Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person,
or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the stock, partnership, membership, or other ownership
interest or other equity securities or property of another Person (including, without limitation, by the formation of any Subsidiary or
pursuant to a Di vision). A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Indebtedness. </B>Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted
Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Encumbrance. </B>Create, incur, allow, or suffer to exist any Lien on any of its property, or assign or convey any right to receive
income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral
not to be subject to the first priority security interest granted herein and under the ISR Debentures, or enter into any agreement, document,
instrument or other arrangement (except with or in favor of Bank) with any Person which directly or indirectly prohibits or has the effect
of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering
any of Borrower&rsquo;s or any Subsidiary&rsquo;s Intellectual Property, except as is otherwise permitted in Section 6.1 hereof and the
definition of &ldquo;Permitted Liens&rdquo; herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Maintenance of Collateral Accounts. </B>Maintain any Collateral Account except pursuant to the terms of Section 5.9(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Distributions; Investments. </B>(a) Pay any dividends or make any distribution or payment or redeem, retire or purchase any stock,
partnership, membership, or other ownership interest or other equity securities; or (b) directly or indirectly make any Investment (including,
without limitation, by the formation of any Subsidiary) other than Permitted Investments, or permit any of its Subsidiaries to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Transactions with Affiliates. </B>Directly or indirectly enter into or permit to exist any material transaction with any Affiliate
of Borrower, except for transactions that are in the ordinary course of Borrower&rsquo;s business, upon fair and reasonable terms that
are no less favorable to Borrower than would be obtained in an arm&rsquo;s length transaction with a non-affiliated Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.9 Subordinated
Debt. </B>Except as expressly permitted under the terms of the subordination, intercreditor, or other similar agreement to which any
Subordinated Debt is subject: (a) make or permit any payment on such Subordinated Debt; or (b) amend any provision in any document
relating to such Subordinated Debt which would increase the amount thereof, provide for earlier or greater principal, interest, or
other payments thereon, or adversely affect the subordination thereof to Obligations owed to Bank.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Compliance. </B>(a) Become an &ldquo;investment company&rdquo; or a company controlled by an &ldquo;investment company&rdquo;,
under the Investment Company Act of 1940, as amended, or undertake as one of its important activities extending credit to purchase or
carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit
Extension for that purpose; (b)(i) fail to meet the minimum funding requirements of ERISA, (ii) permit a Reportable Event or Prohibited
Transaction, as defined in ERISA, to occur, (iii) fail to comply with the Federal Fair Labor Standards Act or (iv) violate any other law
or regulation, if the foregoing subclauses (i) through (iv), individually or in the aggregate, could reasonably be expected to have a
material adverse effect on Borrower&rsquo;s business or operations, or permit any of its Subsidiaries to do so; or (c) withdraw or permit
any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other event
with respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any
liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other Governmental
Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="text-transform: uppercase">7.</FONT> <U>EVENTS OF DEFAULT</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any one of the following
shall constitute an event of default (an <B>&ldquo;Event of Default&rdquo;) </B>under this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Payment Default. </B>Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or
(b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day
cure period shall not apply to payments due on the Revolving Line Maturity Date). During the cure period, the failure to make or pay any
payment specified under clause (b) hereunder is not an Event of Default (but no Credit Extension will be made during the cure period);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Covenant Default.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower fails or neglects to perform any obligation in Section 5 or violates any covenant in Section 6 of this Agreement or any
other term, provision, condition, covenant or agreement contained in the ISR Debentures; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Borrower fails or neglects to perform, keep, or observe any other term, prov1s10n, condition, covenant or agreement contained in
this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 7) under such other term, provision,
condition, covenant or agreement that can be cured, has failed to cure the default within ten (10) days after the occurrence thereof (but
no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things,
to financial covenants or any other covenants that are required to be satisfied, completed or tested by a date certain or any covenants
set forth in clause (a) above;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Material Adverse Change. </B>A Material Adverse Change occurs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT> Attachment; Levy; Restraint on Business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>(i) The service of process seeking to attach, by trustee or similar process, any funds of Borrower or any Subsidiary, or (ii) a
notice of lien or levy is filed against any of Borrower&rsquo;s or any of its Subsidiaries&rsquo; assets by any Governmental Authority,
and the same under subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether
through the posting of a bond or otherwise); provided, however, no Credit Extensions shall be made during any ten (10) day cure period;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>(i) any material portion of Borrower&rsquo;s or any of its Subsidiaries&rsquo; assets is attached, seized, levied on, or comes
into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents Borrower or any of its Subsidiaries
from conducting all or any material part of its business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Insolvency. </B>(a) Borrower or any of its Subsidiaries is unable to pay its debts (including trade debts) as they become due or
otherwise becomes insolvent; (b) Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or (c) an Insolvency Proceeding
is begun against Borrower or any of its Subsidiaries and is not dismissed or stayed within 30 days (but no Credit Extensions shall be
made while any of the conditions described in clause (a) exist or until any Insolvency Proceeding is dismissed);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Other Agreements. </B>There is, under any agreement to which Borrower, any of Borrower&rsquo;s Subsidiaries, or any Guarantor is
a party with a third party or parties, (a) any default resulting in a right by such third party or parties, whether or not exercised,
to accelerate the maturity of any Indebtedness in an amount individually or in the aggregate in excess of $25,000; or (b) any breach or
default by Borrower, any of Borrower&rsquo;s Subsidiaries, or Guarantor, the result of which could have a material adverse effect on Borrower&rsquo;s,
any of Borrower&rsquo;s Subsidiaries&rsquo;, or any Guarantor&rsquo;s business or operations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Judgments; Penalties. </B>One or more fines, penalties or final judgments, orders or decrees for the payment of money in an amount,
individually or in the aggregate, of at least $25,000 (not covered by independent third-party insurance as to which liability has been
accepted by such insurance carrier) shall be rendered against Borrower or any of its Subsidiaries by any Governmental Authority, and the
same are not, within ten (10) days after the entry, assessment or issuance thereof, discharged, or after execution thereof, or stayed
pending appeal, or such judgments are not discharged prior to the expiration of any such stay (provided that no Credit Extensions will
be made prior to the discharge, or stay of such fine, penalty, judgment, order or decree);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.8
Misrepresentations. </B>Borrower or any of its Subsidiaries or any Person acting for Borrower or any of its Subsidiaries makes any
representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Bank
or to induce Bank to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect:
(i) in any material respect when made (other than with respect to the ISR Debentures), and/or (ii) in any respect when made with
respect to the ISR Debentures (it being agreed and acknowledged by Bank that the projections and forecasts provided by Borrower or
any of its Subsidiaries in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during
the period or periods covered by such projections and forecasts may differ from the projected or forecasted results).</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Subordinated Debt. </B>If: (a) any document, instrument, or agreement evidencing any Subordinated Debt shall for any reason be
revoked or invalidated or otherwise cease to be in full force and effect, or any Person (other than Bank) shall be in breach thereof or
contest in any manner the validity or enforceability thereof or deny that it has any further liability or obligation thereunder; (b) a
default or event of default (however defined) has occurred under any document, instrument, or agreement evidencing any Subordinated Debt,
which default shall not have been cured or waived within any applicable grace period; or (c) the Obligations shall for any reason be subordinated
or shall not have the priority contemplated by this Agreement or any applicable subordination or intercreditor agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.10 Lien Priority. </B>There
is a material impairment in the perfection or priority of Bank&rsquo;s security interest in the Collateral;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Guaranty. </B>(a) Any guaranty of any Obligations terminates or ceases for any reason to be in full force and effect; (b) any Guarantor
does not perform any obligation or covenant under any guaranty of the Obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>any circumstance described in Sections 7.3, 7.4, 7.5, 7.6, 7.7, or 7.8 of this Agreement occurs with respect to any Guarantor,
(d) the death, liquidation, winding up, or termination of existence of any Guarantor; or (e)(i) a material impairment in the perfection
or priority of Bank&rsquo;s Lien in the collateral provided by Guarantor or in the value of such collateral or (ii) a material adverse
change in the general affairs, management, results of operation, condition (financial or otherwise) or the prospect of repayment of the
Obligations occurs with respect to any Guarantor; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Governmental Approvals. </B>Any Governmental Approval shall have been (a) revoked, rescinded, suspended, modified in an adverse
manner or not renewed in the ordinary course for a full term or (b) subject to any decision by a Governmental Authority that designates
a hearing with respect to any applications for renewal of any of such Governmental Approval or that could result in the Governmental Authority
taking any of the actions described in clause (a) above, and such decision or such revocation, rescission, suspension, modification or
non-renewal (i) causes, or could reasonably be expected to cause, a Material Adverse Change, or (ii) adversely affects the legal qualifications
of Borrower or any of its Subsidiaries to hold such Governmental Approval in any applicable jurisdiction and such revocation, rescission,
suspension, modification or non-renewal could reasonably be expected to affect the status of or legal qualifications of Borrower or any
of its Subsidiaries to hold any Governmental Approval in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Russian Subsidiary. </B>Russian
Subsidiary at any time maintains cash in an amount of more than One Hundred Fifty Thousand Dollars ($150,000), <I><U>provided</U>, <U>however</U></I>,
that the foregoing threshold shall not include funds transferred to the Russian Subsidiary solely for the purpose of compensation expenses
for employees that are discharged within Seven (7) Business Days from the date on which such funds have arrived at the Russian Subsidiary&rsquo;s
account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="text-transform: uppercase">8.</FONT> <U>BANK&rsquo;S RIGHTS AND REMEDIES</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Rights and Remedies. </B>Upon the occurrence and during the continuance of an Event of Default, Bank may, without notice or demand,
do any or all of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>declare all Obligations immediately due and payable (but if an Event of Default described in Section 7.5 occurs all Obligations
are immediately due and payable without any action by Bank);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>stop advancing money or extending credit for Borrower&rsquo;s benefit under this Agreement or under any other agreement between
Borrower and Bank;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(c) demand that
Borrower (i) deposit cash with Bank in an amount equal to at least (A) 105.0% of the aggregate face amount of any Letters of Credit
denominated in Dollars remaining undrawn, and (B) 115.0% of the Dollar Equivalent of the aggregate face amount of any Letters of
Credit denominated in a Foreign Currency remaining undrawn (plus, in each case, all interest, fees, and costs due or estimated by
Bank to become due in connection therewith), to secure all of the Obligations relating to such Letters of Credit, as collateral
security for the repayment of any future drawings under such Letters of Credit, and Borrower shall forthwith deposit and pay such
amounts, and (ii) pay in advance all letter of credit fees scheduled to be paid or payable over the remaining term of any Letters of
Credit;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>verify the amount of, demand payment of and performance under, and collect any Accounts and General Intangibles, settle or adjust
disputes and claims directly with Account Debtors for amounts on terms and in any order that Bank considers advisable, and notify any
Person owing Borrower money of Bank&rsquo;s security interest in such funds. Borrower shall collect all payments in trust for Bank and,
if requested by Bank, immediately deliver the payments to Bank in the form received from the Account Debtor, with proper endorsements
for deposit;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in
the Collateral. Borrower shall assemble the Collateral if Bank requests and make it available as Bank designates. Bank may enter premises
where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise
any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license
to enter and occupy any of its premises, without charge, to exercise any of Bank&rsquo;s rights or remedies;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) amount held by Bank owing to or for the credit
or the account of Borrower;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(g) ship, reclaim,
recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral. For use solely upon the
occurrence and during the continuation of an Event of Default, Bank is hereby granted a non-exclusive, royalty-free license or other
right to use, without charge, Borrower&rsquo;s labels, Patents, Copyrights, mask works, rights of use of any name, trade secrets,
trade names, Trademarks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production
of, advertising for sale, and selling any Collateral and, in connection with Bank&rsquo;s exercise of its rights under this Section
8.1, Borrower&rsquo;s rights under all licenses and all franchise agreements inure to Bank&rsquo;s benefit;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>place a &ldquo;hold&rdquo; on any account maintained with Bank and/or deliver a notice of exclusive control, any entitlement order,
or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>demand and receive possession of Borrower&rsquo;s Books; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>exercise all rights and remedies available to Bank under the Loan Documents or at law or equity, including all remedies provided
under the Code or any Applicable Law (including disposal of the Collateral pursuant to the terms thereof) or any other applicable law,
including realization of securities and the exercise of all of Bank&rsquo;s rights and remedies with respect to the ISR Debentures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>8.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Power of Attorney. </B>Borrower hereby irrevocably appoints Bank as its true and lawful attorney-in- fact, (a) exercisable upon
the occurrence and during the continuance of an Event of Default, to: (i) sign Borrower&rsquo;s name on any invoice or bill of lading
for any Account or drafts against Account Debtors; (ii) demand, collect, sue, and give releases to any Account Debtor for monies due,
settle and adjust disputes and claims about the Accounts directly with Account Debtors, and compromise, prosecute, or defend any action,
claim, case, or proceeding about any Collateral (including filing a claim or voting a claim in any bankruptcy case in Bank&rsquo;s or
Borrower&rsquo;s name, as Bank chooses); (iii) make, settle, and adjust all claims under Borrower&rsquo;s insurance policies; (iv) pay,
contest or settle any Lien, charge, encumbrance, security interest, or other claim in or to the Collateral, or any judgment based thereon,
or otherwise take any action to terminate or discharge the same; and (v) transfer the Collateral into the name of Bank or a third party
as the Code permits; and (vi) receive, open and dispose of mail addressed to Borrower; and (b) regardless of whether an Event of Default
has occurred, to: (i) endorse Borrower&rsquo;s name on any checks, payment instruments, or other forms of payment or security; (ii) notify
all Account Debtors to pay Bank directly; and (iii) sign Borrower&rsquo;s name on any documents necessary to perfect or continue the perfection
of Bank&rsquo;s security interest in the Collateral. Bank&rsquo;s foregoing appointment as Borrower&rsquo;s attorney in fact, and all
of Bank&rsquo;s rights and powers, coupled with an interest, are irrevocable until such time as all Obligations (other than inchoate indemnity
obligations) have been satisfied in full, Bank is under no further obligation to make Credit Extensions and the Loan Documents have been
terminated. Bank shall not incur any liability in connection with or arising from the exercise of such power of attorney and shall have
no obligation to exercise any of the foregoing rights and remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>8.3 Protective
Payments. </B>If Borrower fails to obtain the insurance called for by Section 5.7 or fails to pay any premium thereon or fails to
pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document or which may be required to
preserve the Collateral, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and
immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral.
Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or
within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or
Bank&rsquo;s waiver of any Event of Default.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>8.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Application of Payments and Proceeds. </B>Bank may apply any funds in its possession, whether from Borrower account balances, payments,
proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations
in such order as Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled
thereto; Borrower shall remain liable to Bank for any deficiency. If Bank, in its sole discretion, directly or indirectly, enters into
a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at
any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations
until the actual receipt by Bank of cash therefor.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>8.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Bank&rsquo;s Liability for Collateral. </B>Bank&rsquo;s sole duty with respect to the custody, safekeeping and physical preservation
of the Collateral in its possession or under its control, under Section 9<B>-</B>207 of the Code or otherwise, shall be to deal with it
in the same manner as Bank deals with its own property consisting of similar instruments or interests. Borrower bears all risk of loss,
damage or destruction of the Collateral.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>8.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>No Waiver; Remedies Cumulative. </B>Bank&rsquo;s failure, at any time or times, to require strict performance by Borrower of any
provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to demand strict
performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the party granting the waiver
and then is only effective for the specific instance and purpose for which it is given. Bank&rsquo;s rights and remedies under this Agreement
and the other Loan Documents are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Bank&rsquo;s
exercise of one right or remedy is not an election and shall not preclude Bank from exercising any other remedy under this Agreement or
other remedy available at law or in equity, and Bank&rsquo;s waiver of any Event of Default is not a continuing waiver. Bank&rsquo;s delay
in exercising any remedy is not a waiver, election, or acquiescence.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>8.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Demand Waiver. </B>Borrower waives demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default,
nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and
guarantees held by Bank on which Borrower is liable.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in"><B>8.8 Borrower Liability.
</B>Any Borrower may, acting singly, request Credit Extensions hereunder. Each Borrower hereby appoints each other as agent for the other
for all purposes hereunder, including with respect to requesting Credit Extensions hereunder. Each Borrower hereunder shall be liable
for the Credit Extensions and Obligations as set forth on Schedule I hereto. Each Borrower waives (a) any suretyship defenses available
to it under the Code or any other Applicable Law, including, without limitation, the benefit of California Civil Code Section 2815 permitting
revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848,
2849, 2850, and 2899 and 3433, and (b) any right to require Bank to: (i) proceed against any Borrower or any other person; (ii) proceed
against or exhaust any security; or (iii) pursue any other remedy. Bank may exercise or not exercise any right or remedy it has against
any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower&rsquo;s
liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights
that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Bank under this Agreement)
to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter
primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in connection
with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations
as a result of any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement
providing for indemnification, reimbursement or any other arrangement prohibited under this Section 8.8 shall be null and void. If any
payment is made to a Borrower in contravention of this Section 8.8, such Borrower shall hold such payment in trust for Bank and such
payment shall be promptly delivered to Bank for application to the Obligations, whether matured or unmatured.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.5in">Each Borrower is entering
into this Agreement, and making all representations and warranties hereunder, on a joint and several basis, and all covenants, agreements
and undertakings herein expressed or implied on the part of each Borrower shall be deemed to be joint and several.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="text-transform: uppercase">9.</FONT> <U>NOTICES</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All notices, consents, requests,
approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be in writing and shall be deemed
to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in
the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission,
when sent by electronic mail; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d)
when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address or
email address indicated below; provided that, for clause (b), if such notice, consent, request, approval, demand or other communication
is not sent during the normal business hours of the recipient, it shall be deemed to have been sent at the opening of business on the
next Business Day of the recipient. Bank or Borrower may change its mailing or electronic mail address by giving the other party written
notice thereof in accordance with the terms of this Section 9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 18%; font-size: 10pt">If to Borrower:</TD>
    <TD STYLE="width: 72%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Beamr Imaging Ltd</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">of 10 Hamenofim St.Herzliya</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4672561 Israel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn.: Sharon Carmel, CEO</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: sharon@beamr.com</P></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 18%; font-size: 10pt">with a copy to:</TD>
    <TD STYLE="width: 72%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Doron, Tikotzky, Kantor, Gutman, Ness, Amit Gross and Co.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Law office</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7 Masada St.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bney Brak, 5126112, Israel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Ronen Kantor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: rkantor@dtkgg.com</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">If to Bank:</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Silicon Valley Bank</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alphabeta, 14<B>-</B>18 Finsbury Square</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">London EC2A lBR</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Jim Watts</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">E<B>-</B>Mail: JWatts2@svb.com</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">and with a copy to:</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shibolet &amp; Co.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4 Berkowitz St.,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel<B>-</B>Aviv 6423806, Israel</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn.: Maya Koubi Bara<B>-</B>nes, adv.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: +972<B>-</B>7778333</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">E-Mail: Maya@shibolet.com</P></TD></TR>
  </TABLE>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="text-transform: uppercase">10.</FONT> <U>CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER[; JUDICIAL REFERENCE]</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as otherwise expressly
provided in any of the Loan Documents, California law governs the Loan Documents without regard to principles of conflicts of law that
would require the application of the laws of another jurisdiction. Borrower and Bank each irrevocably and unconditionally submit to the
exclusive jurisdiction of the State and Federal courts in in Santa Clara County, California; provided, however, that nothing in this Agreement
shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction with respect to
the Loan Documents or to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or other court
order in favor of Bank. Borrower expressly, irrevocably and unconditionally submits and consents in advance to such jurisdiction in any
action or suit commenced in any such court, and Borrower hereby irrevocably and unconditionally waives, to the fullest extent permitted
by Applicable Law, any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and
hereby irrevocably and unconditionally consents to the granting of such legal or equitable relief as is deemed appropriate by such court.
Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service
of such summons, complaints, and other process may be made by registered or certified mail addressed to Borrower at the address set forth
in, or subsequently provided by Borrower in accordance with, Section 9 of this Agreement and that service so made shall be deemed completed
upon the earlier to occur of Borrower&rsquo;s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage
prepaid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, BORROWER AND BANK EACH WAIVES ITS RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR
BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER
CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT. EACH PARTY HERETO HAS REVIEWED IBIS
WAIVER WITH ITS COUNSEL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WITHOUT INTENDING IN ANY
WAY TO LIMIT THE PARTIES&rsquo; AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial
by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them arising at
any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding
Judge of the Santa Clara County, California Superior Court) appointed in accordance with California Code of Civil Procedure Section 638
(or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting
without a jury, in Santa Clara County, California; and the parties hereby submit to the jurisdiction of such court. The reference proceedings
shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure Sections 638 through 645.1,
inclusive. The private judge shall have the power, among others, to grant provisional relief, including without limitation, entering temporary
restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the
public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a party desires
to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such
party may apply to the Santa Clara County, California Superior Court for such relief. The proceeding before the private judge shall be
conducted in the same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties
shall be entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery
applicable to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders applicable
to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall
have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon
pursuant to California Code of Civil Procedure Section 644(a). Nothing in this paragraph shall limit the right of any party at any time
to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also determine all
issues relating to the applicability, interpretation, and enforceability of this paragraph.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Section 10 shall survive
the termination of this Agreement and the repayment of all Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="text-transform: uppercase">11.</FONT> <U>GENERAL PROVISIONS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.1 Termination
Prior to Maturity Date; Survival. </B>All covenants, representations and warranties made in this Agreement shall continue in full
force until this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations) have
been satisfied. So long as Borrower has satisfied the Obligations (other than inchoate indemnity obligations, and any other
obligations which, by their terms, are to survive the termination of this Agreement and the repayment of all Obligations, and any
Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 3.1 of this Agreement), this
Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written
notice of termination is given to Bank. Those obligations that are expressly specified in this Agreement as surviving this
Agreement&rsquo;s termination and the repayment of all Obligations shall continue to survive notwithstanding this Agreement&rsquo;s
termination and the repayment of all Obligations. Without limiting the foregoing, except as otherwise provided in Section 3.1, the
grant of a security interest by Borrower in Section 3.1 and the charges granted under the ISR Debentures shall survive until the
termination of this Agreement, the ISR Debentures and all Bank Services Agreements.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Successors and Assigns. </B>This Agreement binds and is for the benefit of the successors and permitted assigns of each party.
Borrower may not assign or transfer this Agreement or any rights or obligations under it without Bank&rsquo;s prior written consent (which
may be granted or withheld in Bank&rsquo;s sole discretion) and any other attempted assignment or transfer by Borrower shall be null and
void. Bank has the right, without the consent of or notice to Borrower, to sell, transfer, assign, negotiate, or grant participation in
all or any part of, or any interest in, Bank&rsquo;s obligations, rights, and benefits under this Agreement and the other Loan Documents
(other than the Warrants, as to which assignment, transfer and other such actions are governed by the terms thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Indemnification.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a) <U>General
Indemnification</U>. Borrower shall indemnify, defend and hold Bank and its Affiliates and the partners, directors, officers,
employees, agents, trustees, administrators, managers, advisors and representatives of Bank and its Affiliates (each, an <B>&ldquo;Indemnified
Person&rdquo;</B>) harmless against: (i) all losses, claims, damages, liabilities and related expenses (including Bank Expenses and
the reasonable fees, charges and disbursements of any counsel for any Indemnified Person) (collectively, <B>&ldquo;Claims&rdquo;</B>)
arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or
any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations
hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Credit Extension or the use
or proposed use of the proceeds therefrom, (iii) any actual or alleged presence or release of hazardous materials on or from any
property owned or operated by Borrower or any of its Subsidiaries, or any environmental liability related in any way to Borrower or
any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by Borrower, and regardless of
whether any Indemnified Person is a party thereto; provided that such indemnity shall not, as to any Indemnified Person, be
available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such
Indemnified Person. All amounts due under this Section 11.3 shall be payable promptly after demand therefor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT><U>Waiver of Consequential Damages, Etc</U>. To the fullest extent permitted by Applicable Law, Borrower shall not assert, and
hereby waives, any claim against any Indemnified Person, on any theory of liability, for special, indirect, consequential or punitive
damages (as opposed to direct or actual damages) or any loss of profits arising out of, in connection with, or as a result of, this Agreement,
any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Credit
Extension, or the use of the proceeds thereof. No Indemnified Person shall be liable for any damages arising from the use by unintended
recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission
systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Section 11.3 shall
survive the termination of this Agreement and the repayment of all Obligations until all statutes of limitation with respect to the Claims,
losses, and expenses for which indemnity is given shall have run.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Time of Essence. </B>Time is of the essence for the performance of all Obligations in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.5 Severability
of Provisions. </B>Each provision of this Agreement is severable from every other provision in determining the enforceability of any
provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Amendments in Writing; Waiver; Integration. </B>No purported amendment or modification of any Loan Document, or waiver, discharge
or termination of any obligation under any Loan Document, shall be effective unless, and only to the extent, expressly set forth in a
writing signed by each party hereto. Without limiting the generality of the foregoing, no oral promise or statement, nor any action, inaction,
delay, failure to require performance or course of conduct shall operate as, or evidence, an amendment, supplement or waiver or have any
other effect on any Loan Document. Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall
not apply to any subsequent or other circumstance, whether similar or dissimilar, or give rise to, or evidence, any obligation or commitment
to grant any further waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations
or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject
matter of the Loan Documents merge into the Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Counterparts. </B>This Agreement may be executed in any number of counterparts and by different parties on separate counterparts,
each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. Deli very of an executed
signature page of this Agreement by electronic mail transmission shall be effective as delivery of a manually executed counterpart hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.8
Confidentiality. </B>Bank agrees to maintain the confidentiality of Information (as defined below), except that Information may be
disclosed (a) to Bank&rsquo;s Subsidiaries and Affiliates and their respective employees, directors, agents, attorneys,
accountants and other professional advisors (collectively, <B>&ldquo;Representatives&rdquo; </B>and, together with Bank,
collectively, <B>&ldquo;Bank Entities&rdquo;</B>); (b) to prospective transferees, assignees, credit providers or purchasers of
Bank&rsquo;s interests under or in connection with this Agreement and their Representatives (provided, however, Bank shall use
commercially reasonable efforts to obtain any such prospective transferee&rsquo;s, assignee&rsquo;s, credit provider&rsquo;s,
purchaser&rsquo;s or their Representatives&rsquo; agreement to the terms of this provision); (c) as required by law, regulation,
subpoena, or other order; (d) to Bank&rsquo;s regulators or as otherwise required or requested in connection with Bank&rsquo;s
examination or audit; (e) in connection with the exercise of remedies under the Loan Documents or any action or proceeding relating
to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder; and (f) to third-party service
providers of Bank so long as such service providers have executed a confidentiality agreement with Bank with terms no less
restrictive than those contained herein. <B>&ldquo;Information&rdquo; </B>means all information received from Borrower regarding
Borrower or its business, in each case other than information that is either: (i) in the public domain or in Bank&rsquo;s possession
when disclosed to Bank, or becomes part of the public domain (other than as a result of its disclosure by Bank in violation of this
Agreement) after disclosure to Bank; or (ii) disclosed to Bank by a third party, if Bank does not know that the third party is
prohibited from disclosing the information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Electronic Execution of Documents. </B>The words &ldquo;execution,&rdquo; &ldquo;signed,&rdquo; &ldquo;signature&rdquo; and words
of like import in any Loan Document, other that the ISR Debentures and report forms, shall be deemed to include electronic signatures,
including any Electronic Signature as defined in the Electronic Transactions Law (2003 Revision) of the Cayman Islands (the <B>&ldquo;Cayman
Islands Electronic Signature Law&rdquo;</B>), if applicable, or the keeping of records in electronic form, including any Electronic Record,
as defined in Cayman Islands Electronic Signature Law, each of which shall be of the same legal effect, validity and enforceability as
a manually executed signature or the use of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for
in any Applicable Law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Cayman Islands
Electronic Signature Law; provided, however that sections 8 and 19(3) of the Cayman Islands Electronic Signature Law shall not apply to
this Agreement or the execution or delivery thereof. For the avoidance of doubt, this Section 11.9 shall not apply on the ISR Debentures
and the notices to the Israeli Registrar of Companies for the registration of the ISR Debentures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.10 Right of Setoff.
</B>Borrower hereby grants to Bank a Lien and a right of setoff as security for all Obligations to Bank, whether now existing or hereafter
arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or
control of Bank or any entity under the control of Bank (including a subsidiary of Bank) or in transit to any of them, and other obligations
owing to Bank or any such entity. At any time after the occurrence and during the continuance of an Event of Default, without demand
or notice, Bank may setoff the same or any part thereof and apply the same to any liability or Obligation of Borrower even though unmatured
and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE BANK TO EXERCISE ITS RIGHTS
OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT
TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Captions and Section References. </B>The headings used in this Agreement are for convenience only and shall not affect the interpretation
of this Agreement. Unless indicated otherwise, section references herein are to sections of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Construction of Agreement. </B>The parties hereto mutually acknowledge that they and their attorneys have participated in the preparation
and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused
the uncertainty to exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Relationship. </B>The relationship of the parties to this Agreement is determined solely by the provisions of this Agreement. The
parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents
different from those of parties to an arm&rsquo;s-length contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Third Parties. </B>Nothing in this Agreement, whether express or implied, is intended to: (a) confer any benefits, rights or remedies
under or by reason of this Agreement on any Persons other than the express parties to it and their respective permitted successors and
assigns; (b) relieve or discharge the obligation or liability of any Person not an express party to this Agreement; or (c) give any Person
not an express party to this Agreement any right of subrogation or action against any party to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Anti-Terrorism Law. </B>Bank hereby notifies Borrower that, pursuant to the requirements of Anti<B>-</B>Terrorism Law, Bank may
be required to obtain, verify and record information that identifies Borrower, which information may include the name and address of Borrower
and other information that will allow Bank to identify Borrower in accordance with Anti-Terrorism Law. Borrower hereby agrees to take
any action necessary to enable Bank to comply with the requirements of Anti<B>-</B>Terrorism Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11.16<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Attorneys&rsquo; Fees, Costs and Expenses. </B>In any action or proceeding between Borrower and Bank arising out of or relating
to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys&rsquo; fees and other costs and expenses
incurred, in addition to any other relief to which it may be entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="text-transform: uppercase">12.</FONT> <U>ACCOUNTING TERMS AND OTHER DEFINITIONS</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.25in"><B>12.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Accounting and Other Terms.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT>Accounting
terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP
(except for with respect to unaudited financial statements for the absence of footnotes and subject to year-end audit adjustments),
provided that if at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any
Loan Document, and either Borrower or Bank shall so request, Borrower and Bank shall negotiate in good faith to amend such ratio or
requirement to preserve the original intent thereof in light of such change in GAAP; provided, further, that, until so amended, (i)
such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) Borrower shall
provide Bank financial statements and other documents required under this Agreement or as reasonably requested hereunder setting
forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.
Notwithstanding the foregoing, all financial covenant and other financial calculations shall be computed with respect to Borrower
only, and not on a consolidated basis.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>As used in the Loan Documents: (i) the words &ldquo;shall&rdquo; or &ldquo;will&rdquo; are mandatory, the word &ldquo;may&rdquo;
is permissive, the word &ldquo;or&rdquo; is not exclusive, the words &ldquo;includes&rdquo; and &ldquo;including&rdquo; are not limiting,
the singular includes the plural, and numbers denoting amounts that are set off in brackets are negative; (ii) the term &ldquo;continuing&rdquo;
in the context of an Event of Default means that the Event of Default has not been remedied (if capable of being remedied) or waived;
and (iii) whenever a representation or warranty is made to Borrower&rsquo;s knowledge or awareness, to the &ldquo;best of&rsquo; Borrower&rsquo;s
knowledge, or with a similar qualification, knowledge or awareness means the actual knowledge, after reasonable investigation, of any
Responsible Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>12.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>Definitions. </B>Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in this Section 12.2.
All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such
terms are defined therein. As used in this Agreement, the following capitalized terms have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Account&rdquo;
</B>is, as to any Person, any &ldquo;account&rdquo; of such Person as &ldquo;account&rdquo; is defined in the Code with such additions
to such term as may hereafter be made, and includes, without limitation, all accounts receivable and other sums owing to such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Account Debtor&rdquo;
</B>is any &ldquo;account debtor&rdquo; as defined in the Code with such additions to such term as may hereafter be made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Administrator&rdquo;
</B>is an individual that is named:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>as an &ldquo;Administrator&rdquo; in the &ldquo;SVB Online Services&rdquo; form completed by Borrower with the authority to determine
who will be authorized to use SVB Online Services (as defined in Bank&rsquo;s Online Banking Agreement as in effect from time to time)
on behalf of Borrower; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT>as an Authorized Signer of Borrower in an approval by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Advance&rdquo;
</B>or <B>&ldquo;Advances&rdquo; </B>means a revolving credit loan (or revolving credit loans) under the Revolving Line.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Advance Rate&rdquo;
</B>is eighty percent (80%); <I>provided, however, </I>that Bank has the right to decrease the foregoing percentage in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Affiliate&rdquo; </B>is,
with respect to any Person, each other Person that owns or controls directly or indirectly the Person, any Person that controls or
is controlled by or is under common control with the Person, and each of that Person&rsquo;s senior executive officers, directors,
partners and, for any Person that is a limited liability company, that Person&rsquo;s managers and members. For purposes of the
definition of Eligible Accounts, Affiliate shall include a Specified Affiliate.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Agreement&rdquo;
</B>is defined in the preamble hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Anti-Terrorism
Law&rdquo; </B>means any law relating to terrorism or money-laundering, including Executive Order No. 13224 and the USA Patriot Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Applicable Law&rdquo;
</B>means all applicable provisions of constitutions, laws, statutes, ordinances, rules, treaties, regulations, permits, licenses, approvals,
interpretations and orders of courts or Governmental Authorities and all orders and decrees of all courts and arbitrators.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Authorized Signer&rdquo;
</B>means any individual listed in Borrower&rsquo;s Borrowing Resolution who is authorized to execute the Loan Documents, including making
(and executing if applicable) any Credit Extension request, on behalf of Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Availability Amount&rdquo;
</B>is the lesser of (a) the Revolving Line or (b) the Borrowing Base, in each case, minus the sum of all outstanding principal amounts
of any Advances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Bank&rdquo; </B>is
defined in the preamble hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Bank Entities&rdquo;
</B>is defined in Section 11.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Bank Expenses&rdquo;
</B>are all audit fees, costs and expenses (including out-of-pocket and documented attorneys&rsquo; fees and expenses) for preparing,
amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection
with appeals or Insolvency Proceedings) or otherwise incurred with respect to Borrower or any Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Bank Services&rdquo;
</B>are any products, credit services, and/or financial accommodations previously, now, or hereafter provided to Borrower or any of its
Subsidiaries by Bank or any Bank Affiliate, including, without limitation, any letters of credit, cash management services (including,
without limitation, merchant services, direct deposit of payroll, business credit cards, and check cashing services), interest rate swap
arrangements, and foreign exchange services as any such products or services may be identified in Bank&rsquo;s various agreements related
thereto (each, a <B>&ldquo;Bank Services Agreement&rdquo;).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Bank Services
Agreement&rdquo; </B>is defined in the definition of Bank Services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Board&rdquo; </B>is
Borrower&rsquo;s board of directors or equivalent governing body.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Borrower[s)&rdquo;
</B>is set forth on Schedule I hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Borrower&rsquo;s
Books&rdquo; </B>are all Borrower&rsquo;s books and records including ledgers, federal and state tax returns, records regarding Borrower&rsquo;s
assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment
containing such information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Borrowing Base&rdquo;
</B>is eighty percent (80%) of all Eligible Accounts, as determined by Bank from Borrower&rsquo;s most recent Borrowing Base Statement
(and as may subsequently be updated by Bank in Bank&rsquo;s sole discretion based upon information received by Bank including, without
limitation, Accounts that are paid and/or billed following the date of the Borrowing Base Statement); provided, however, that Bank has
the right to decrease the foregoing amounts and/or percentages in its sole judgment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Borrowing Base
Statement&rdquo; </B>is that certain statement of the value of certain Collateral in the form specified by Bank to Borrower from time
to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Borrowing Resolutions&rdquo;
</B>are, with respect to any Person, those resolutions adopted by such Person&rsquo;s board of directors (and, if required under the terms
of such Person&rsquo;s Operating Documents, stockholders) and delivered by such Person to Bank approving the Loan Documents to which such
Person is a party and the transactions contemplated thereby, together with a certificate executed by its secretary on behalf of such Person
certifying (a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which
it is a party, (b) that set forth as a part of or attached as an exhibit to such certificate is a true, correct, and complete copy of
the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the
Loan Documents to which it is a party, (c) the name(s) of the Person(s) authorized to execute the Loan Documents, including making (and
executing if applicable) any Credit Extension request, on behalf of such Person, together with a sample of the true signature(s) of such
Person(s), and (d) that Bank may conclusively rely on such certificate unless and until such Person shall have delivered to Bank a further
certificate canceling or amending such prior certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Business Day&rdquo;
</B>is a day other than a Saturday, Sunday or other day on which commercial banks in the State of California are authorized or required
by law to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Cash Collateral
Account&rdquo; </B>is defined in Section 5.4(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Cash Equivalents&rdquo;
</B>are (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof
having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year
after its creation and having the highest rating from either Standard &amp; Poor&rsquo;s Ratings Group or Moody&rsquo;s Investors Service,
Inc.; (c) Bank&rsquo;s certificates of deposit issued maturing no more than one (1) year after issue; and (d) money market funds at least
95.0% of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Cayman Islands
Electronic Signature Law&rdquo;</B> is defined in Section 11.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Charged Property&rdquo;
</B>is defined in the ISR Debentures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Change in
Control&rdquo; </B>means the entering into any transaction or series of related transactions (A) which result in ISR Borrower owning
less than one hundred percent (100.0%) of the equity interests in US Borrower, or (B) in which the shareholders of ISR Borrower who
were not shareholders immediately prior to the first such transaction own more than forty percent (40.0%) of the voting share of ISR
Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of
Borrower&rsquo;s equity securities in a public offering or to venture capital investors so long as Borrower identifies to Bank such
investors at least Seven (7) Business Days prior to the closing of the transaction and provides to Bank a description of the
material terms of the transaction).</P>

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

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

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

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Change in Law&rdquo;
</B>means the occurrence, after the Effective Date, of: (a) the adoption or taking effect of any law, rule, regulation or treaty; (b)
any change in Applicable Law or in the administration, interpretation, implementation or application thereof by any Governmental Authority;
or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental
Authority; provided that notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection
Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines
or directives promulgated by Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar
authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to
be a &ldquo;Change in Law&rdquo;, regardless of the date enacted, adopted or issued.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Claims&rdquo;
</B>is defined in Section 11.3.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Code&rdquo; </B>is
the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of California; provided, that,
to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different
Articles or Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern; provided further, that
in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with
respect to, Bank&rsquo;s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the
State of California, the term &ldquo;Code&rdquo; shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction
solely for purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions
relating to such provisions, and (b) with respect to ISR Borrower and or any assets located outside of the United States, any applicable
law..</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Collateral&rdquo;
</B>consists of (a) all of Borrower&rsquo;s right, title and interest in and to the following personal property: (i) all goods, Accounts
(including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements,
franchise agreements, General Intangibles, Intellectual Property, commercial tort claims, documents, instruments (including any promissory
notes), chattel paper (whether tangible or electronic), cash, deposit accounts, certificates of deposit, fixtures, letters of credit
rights (whether or not the letter of credit is evidenced by a writing), securities, securities accounts, securities entitlements and
all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located;
and (ii) all Borrower&rsquo;s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all
substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance
proceeds of any or all of the foregoing, and (b) any and all properties, rights and assets granted by ISR Borrower to Bank as set forth
in the ISR Debentures, including, without limitation, the Charged Property.</P>

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<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

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<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Collateral
Account&rdquo; </B>is any Deposit Account, Securities Account, or Commodity Account.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Commodity
Account&rdquo; </B>is any &ldquo;commodity account&rdquo; as defined in the Code with such additions to such term as may hereafter be
made.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Compliance
Statement&rdquo; </B>is that certain statement in the form attached hereto as <B><U>Exhibit&nbsp;A</U></B>.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Connection
Income Taxes&rdquo; </B>means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are
franchise Taxes or branch profits Taxes.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Contingent
Obligation&rdquo; </B>is, for any Person, any direct or indirect liability of that Person for (a) any direct or indirect guaranty by
such Person of any indebtedness, lease, dividend, letter of credit, credit card or other obligation of another, (b) any other obligation
endorsed, co-made, discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (c) any
obligations for undrawn letters of credit for the account of that Person; and (d) all obligations from any interest rate, currency or
commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against
fluctuation in interest rates, currency exchange rates or commodity prices; but &ldquo;Contingent Obligation&rdquo; does not include
endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary
obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably anticipated liability for it determined
by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Control
Agreement&rdquo; </B>is any control agreement entered into among the depository institution at which Borrower maintains a Deposit Account
or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower,
and Bank pursuant to which Bank obtains control (within the meaning of the Code) over such Deposit Account, Securities Account, or Commodity
Account.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Copyrights&rdquo;
</B>are any and all copyright rights, copyright applications, copyright registrations and like protections in each work of authorship
and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Credit
Extension&rdquo; </B>is any Advance, Overadvance, or any other extension of credit by Bank for Borrower&rsquo;s benefit.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Currency&rdquo;
</B>is coined money and such other banknotes or other paper money as are authorized by law and circulate as a medium of exchange.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Current
Liabilities&rdquo; </B>are (a) all obligations and liabilities of Borrower to Bank, plus (b) without duplication of(a), the aggregate
amount of Borrower&rsquo;s Total Liabilities that mature within one (1) year.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Default&rdquo;
</B>means any event which with notice or passage of time or both, would constitute an Event of Default.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Default
Rate&rdquo; </B>is defined in Section 1.4(c).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Deferred
Revenue&rdquo; </B>is all amounts received or invoiced in advance of performance under contracts and not yet recognized as revenue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Deposit
Account&rdquo; </B>is any <B>&ldquo;deposit account&rdquo; </B>as defined in the Code with such additions to such term as may hereafter
be made.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Designated
Deposit Account&rdquo; </B>is the deposit account established by Borrower with Bank for purposes of receiving Credit Extensions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Division&rdquo;
</B>means, in reference to any Person which is an entity, the division of such Person into two (2) or more separate Persons, with the
dividing Person either continuing or terminating its existence as part of such division, including, without limitation, as contemplated
under Section 18-217 of the Delaware Limited Liability Company Act for limited liability companies formed under Delaware law, Section
17-220 of the Delaware Revised Uniform Limited Partnership Act for limited partnerships formed under Delaware law, or any analogous action
taken pursuant to any other Applicable Law with respect to any corporation, limited liability company, partnership or other entity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Dollars,&rdquo;
&ldquo;dollars&rdquo; </B>or use of the sign&rdquo;$&rdquo; means only lawful money of the United States and not any other currency,
regardless of whether that currency uses the&rdquo;$&rdquo; sign to denote its currency or may be readily converted into lawful money
of the United States.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Dollar
Equivalent&rdquo; </B>is, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any
amount denominated in a Foreign Currency, the equivalent amount therefor in Dollars as determined by Bank at such time on the basis of
the then-prevailing rate of exchange in San Francisco, California, for sales of the Foreign Currency for transfer to the country issuing
such Foreign Currency.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Effective
Date&rdquo; </B>is set forth on Schedule I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Eligible
Accounts&rdquo; </B>means Accounts owing to Borrower which arise in the ordinary course of Borrower&rsquo;s business that meet all Borrower&rsquo;s
representations and warranties in Section 4.3, that have been, at the option of Bank, confirmed in accordance with Section 5.4(&pound;)
of this Agreement, and are due and owing from Account Debtors deemed creditworthy by Bank in its sole discretion. Bank reserves the right,
at any time after the Effective Date, in its sole discretion in each instance, to either (i) adjust any of the criteria set forth below
and to establish new criteria or (ii) deem any Accounts owing from a particular Account Debtor or Account Debtors to not meet the criteria
to be Eligible Accounts. Unless Bank otherwise agrees in writing, Eligible Accounts shall not include:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Accounts (i) for which the Account Debtor is Borrower&rsquo;s Affiliate, officer, employee, investor, or agent, or (ii) that are intercompany
Accounts;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Accounts that the Account Debtor has not paid within 90 days of invoice date regardless of invoice payment period terms;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Accounts with credit balances over 90 days from invoice date, to the extent of such credit balances;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
Accounts owing from an Account Debtor if 50.0% or more of the Accounts owing from such Account Debtor have not been paid within 90 days
of invoice date;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
Accounts owing from an Account Debtor (i) which does not have its principal place of business in the United States, Israel, Canada, UK
and Western Europe or (ii) whose billing address (as set forth in the applicable invoice for such Account) is not in the United States,
Israel, Canada, UK and Western Europe, unless in the case of both (i) and (ii) such Accounts are otherwise approved by Bank in writing
as Eligible Accounts and (A) covered in full by credit insurance (which respect to which Bank is the beneficiary) satisfactory to Bank
from an insurer with investment grade debt ratings (unless otherwise approved by Bank in writing), less any deductible, (B) supported
by letter(s) of credit acceptable to Bank, or (C) that Bank otherwise approves of in writing;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)
Accounts billed from and/or payable to Borrower outside of the United States or Israel (sometimes called foreign invoiced accounts);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)
Accounts in which Bank does not have a first priority, perfected security interest under all Applicable Law;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)
Accounts billed and/or payable in a Currency other than Dollars [or an Optional Currency];</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Accounts owing from an Account Debtor to the extent that Borrower is indebted or obligated in any manner to the Account Debtor (as creditor,
lessor, supplier or otherwise - sometimes called &ldquo;contra&rdquo; accounts, accounts payable, customer deposits or credit accounts),
but only to the extent of such Indebtedness or obligations;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)
Accounts with or in respect of accruals for marketing allowances, incentive rebates, price protection, cooperative advertising and other
similar marketing credits, unless otherwise approved by Bank in writing, but only to the extent of such credits;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)
Accounts owing from an Account Debtor which is a United States government entity or any department, agency, or instrumentality thereof
unless Borrower has assigned its payment rights to Bank and the assignment has been acknowledged under the Federal Assignment of Claims
Act of 1940, as amended;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)
Accounts owing from an Account Debtor which is a government entity or any department, agency, or instrumentality thereof;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)
Accounts with customer deposits and/or with respect to which Borrower has received an upfront payment, to the extent of such customer
deposit and/or upfront payment;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)
Accounts for demonstration or promotional equipment, or in which goods are consigned, or sold on a &ldquo;sale guaranteed&rdquo;, &ldquo;sale
or return&rdquo;, &ldquo;sale on approval&rdquo;, or other terms if Account Debtor&rsquo;s payment may be conditional;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)
Accounts owing from an Account Debtor where goods or services have not yet been rendered to the Account Debtor (sometimes called memo
billings or pre-billings);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)
Accounts subject to contractual arrangements between Borrower and an Account Debtor where payments shall be scheduled or due according
to completion or fulfillment requirements (sometimes called contracts accounts receivable, progress billings, milestone billings, or
fulfillment contracts);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)
Accounts owing from an Account Debtor the amount of which may be subject to withholding based on the Account Debtor&rsquo;s satisfaction
of Borrower&rsquo;s complete performance (but only to the extent of the amount withheld; sometimes called retainage billings);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)
Accounts subject to trust provisions, subrogation rights of a bonding company, or a statutory trust;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)
Accounts owing from an Account Debtor that has been invoiced for goods that have not been shipped to the Account Debtor unless Bank,
Borrower, and the Account Debtor have entered into an agreement acceptable to Bank wherein the Account Debtor acknowledges that (i) it
has title to and has ownership of the goods wherever located, (ii) a bona fide sale of the goods has occurred, and (iii) it owes payment
for such goods in accordance with invoices from Borrower (sometimes called &ldquo;bill and hold&rdquo; accounts);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)
Accounts for which the Account Debtor has not been invoiced;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)
Accounts that represent non-trade receivables or that are derived by means other than in the ordinary course of Borrower&rsquo;s business;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)
Accounts for which Borrower has permitted Account Debtor&rsquo;s payment to extend beyond 90 days (including Accounts with a due date
that is more than 90 days from invoice date);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(w)
Accounts arising from chargebacks, debit memos or other payment deductions taken by an Account Debtor;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)
Accounts arising from product returns and/or exchanges (sometimes called &ldquo;warranty&rdquo; or &ldquo;RMA&rdquo; accounts);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(y)
Accounts in which the Account Debtor disputes liability or makes any claim (but only up to the disputed or claimed amount), or if the
Account Debtor is subject to an Insolvency Proceeding (whether voluntary or involuntary), or becomes insolvent, or goes out of business;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(z)
Accounts owing from an Account Debtor with respect to which Borrower has received Deferred Revenue (but only to the extent of such Deferred
Revenue);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(aa)
Accounts owing from an Account Debtor, whose total obligations to Borrower exceed 25.0% of all Accounts, except for Netflix, for the
amounts that exceed that percentage, unless Bank approves in writing; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(bb)
Accounts for which Bank in its sole discretion determines collection to be doubtful, including, without limitation, accounts represented
by &ldquo;refreshed&rdquo; or &ldquo;recycled&rdquo; invoices.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Environmental
Laws&rdquo; </B>means any Applicable Law (including any permits, concessions, grants, franchises, licenses, agreements or governmental
restrictions) relating to pollution or the protection of health, safety or the environment or the release of any materials into the environment
(including those related to hazardous materials, air emissions, discharges to waste or public systems and health and safety matters).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Equipment&rdquo;
</B>is all &ldquo;equipment&rdquo; as defined in the Code with such additions to such term as may hereafter be made, and includes without
limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;ERISA&rdquo;
</B>is the Employee Retirement Income Security Act of 1974, as amended, and its regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Event
of Default&rdquo; </B>is defined in Section 7.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Exchange
Act&rdquo; </B>is the Securities Exchange Act of 1934, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Excluded
Taxes&rdquo; </B>means any of the following Taxes imposed on or with respect to Bank or required to be withheld or deducted from a payment
to Bank, (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 Bank being organized under the laws of, or having its principal office or its applicable lending office located
in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) U.S. federal
withholding Taxes imposed on amounts payable to or for the account of Bank with respect to an applicable interest in a Credit Extension
or the Revolving Line pursuant to a law in effect on the date on which (i) Bank acquires such interest in the Credit Extensions or Revolving
Line or (ii) Bank changes its lending office, except in each case to the extent that, pursuant to Section 1.9, amounts with respect to
such Taxes were payable either to Bank&rsquo;s assignor immediately before Bank became a party hereto or to Bank immediately before it
changed its lending office, (c) Taxes attributable to Bank&rsquo;s failure to comply with Section l .9(e), and (d) any withholding Taxes
imposed (i) under FATCA or, (ii) with respect to payments made by ISR Borrower up to ten percent (10%) of the gross interest payments
made hereunder, remitted by the ISR Borrower to the Israeli Tax Authorities in accordance with the provisions hereto, in accordance with
the Israeli Income Tax Ordinance and the rules and regulations promulgated thereunder, and the Convention between the Government of the
State of Israel and the Government of the United States of America with respect to taxes on income.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;FATCA&rdquo;
</B>means Sections 1471 through 1474 of the Internal Revenue Code, as of the date of this Agreement (or any amended or successor version
that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations
thereof, any agreements entered into pursuant to Section 1471(b)(l) of the Internal Revenue Code and any fiscal or regulatory legislation,
rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing
such Sections of the Internal Revenue Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Financial
Statement Repository&rdquo; </B>is Bank&rsquo;s e-mail address specified in Section 9 or such other means of collecting information approved
and designated by Bank after providing notice thereof to Borrower from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Foreign
Currency&rdquo; </B>is the lawful money of a country other than the United States.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Funding
Date&rdquo; </B>is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;GAAP&rdquo;
</B>is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the
American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other Person as may be approved by a significant segment of the accounting profession, which are applicable
to the circumstances as of the date of determination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;General
Intangibles&rdquo; </B>is all &ldquo;general intangibles&rdquo; as defined in the Code in effect on the date hereof with such additions
to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds,
security and other deposits, payment intangibles, contract rights, options to purchase or sell real or personal property, rights in all
litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation
key man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Governmental
Approval&rdquo; </B>is any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration,
filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Governmental
Authority&rdquo; </B>is any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality,
regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
functions of or pertaining to government, any securities exchange and any self-regulatory organization.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Guarantor&rdquo;
</B>is any Person providing a Guaranty in favor of Bank.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Guaranty&rdquo;
</B>is any guarantee of all or any part of the Obligations, as the same may from time to time be amended, restated, modified or otherwise
supplemented.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;IIA&rdquo;
</B>is the Israel Innovation Authority of the Israeli Ministry of the Economy.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Indebtedness&rdquo;
</B>is (a) indebtedness for borrowed money or the deferred price of property or services, such as reimbursement and other obligations
for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease
obligations, (d) Contingent Obligations and (e) other short and long-term obligations under debt agreements, lines of credit and extensions
of credit.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Indemnified
Person&rdquo; </B>is defined in Section 11.3.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Indemnified
Taxes&rdquo; </B>means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation
of Borrower under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Information&rdquo;
</B>is defined in Section 11.8.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Initial
Audit&rdquo; </B>is Bank&rsquo;s inspection of Borrower&rsquo;s Accounts, the Collateral, and Borrower&rsquo;s Books, with results satisfactory
to Bank in its sole discretion.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Insolvency
Proceeding&rdquo; </B>is any proceeding by or against any Person under the United States Bankruptcy Code, the Israeli Companies Ordinance
5743-1983, the Israeli Companies Law 5759-1999, the Israeli Insolvency and Economic Rehabilitation Law 5788-2018, 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, receivership or other relief.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Intellectual
Property&rdquo; </B>means, with respect to any Person, all of such Person&rsquo;s right, title, and interest in and to the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
its Copyrights, Trademarks and Patents;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how and operating
manuals;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
any and all source code;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
any and all design rights which may be available to such Person;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the obligation,
to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)
all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Internal
Revenue Code&rdquo; </B>means the U.S. Internal Revenue Code of 1986, and the rules and regulations promulgated thereunder, each as amended
or modified from time to time.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Inventory&rdquo;
</B>is all <B>&ldquo;inventory&rdquo; </B>as defined in the Code in effect on the date hereof with such additions to such term as may
hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work
in process and finished products, including without limitation such inventory as is temporarily out of Borrower&rsquo;s custody or possession
or in transit and including any returned goods and any documents of title representing any of the above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Investment&rdquo;
</B>is any beneficial ownership interest in any Person (including stock, partnership, membership, or other ownership interest or other
equity securities), and any loan, advance or capital contribution to any Person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;IP
Agreement&rdquo; </B>is that certain Intellectual Property Security Agreement between each Borrower and Bank dated as of the Effective
Date, as may be amended, modified or restated from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;ISR
Borrower&rdquo; </B>is defined in Schedule I of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;ISR
Debenture(s)&rdquo; </B>is defined in Section 4.2.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Key
Person&rdquo; </B>is Sharon Carmel, who is the Borrower&rsquo;s Chief Executive Officer as of the Effective Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Letter
of Credit&rdquo; </B>is a standby or commercial letter of credit issued by Bank upon request of Borrower based upon an application, guarantee,
indemnity, or similar agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Lien&rdquo;
</B>is a claim, mortgage, deed of trust, levy, attachment charge, pledge, hypothecation, security interest or other encumbrance of any
kind, whether voluntarily incurred or arising by operation of law or otherwise against any property.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Loan
Documents&rdquo; </B>are, collectively, this Agreement and any schedules, exhibits, certificates, notices, and any other documents related
to this Agreement, the Perfection Certificate, the Warrant, the IP Agreement, Control Agreements, any Bank Services Agreement, the ISR
Debentures, any subordination agreement, any note, or notes or guaranties executed by Borrower or any Guarantor, landlord waivers and
consents, bailee waivers and consents, and any other present or future agreement by Borrower and/or any Guarantor with or for the benefit
of Bank in connection with this Agreement or Bank Services, all as amended, restated, or otherwise modified in accordance with the terms
thereof.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Material
Adverse Change&rdquo; </B>is (a) a material impairment in the perfection or priority of Bank&rsquo;s Lien in the Collateral or in the
value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower;
(c) a material impairment of the prospect of repayment of any portion of the Obligations; or (d) Bank determines, based upon information
available to it and in its reasonable judgment, that there is a likelihood that Borrower shall fail to comply with one or more of the
financial covenants in Section 5 during the next succeeding financial reporting period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Measurement
Period&rdquo; </B>is each calendar quarter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Obligations&rdquo;
</B>are Borrower&rsquo;s obligations to pay when due any debts, principal, interest, fees, Bank Expenses, the Revolving Line Facility
Fee, and other amounts Borrower owes Bank now or later, whether under this Agreement, the other Loan Documents (other than the Warrants),
or otherwise, including, without limitation, all obligations relating to Bank Services and interest accruing after Insolvency Proceedings
begin and debts, liabilities, or obligations of Borrower assigned to Bank, and to perform Borrower&rsquo;s duties under the Loan Documents
(other than the Warrants).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;OFAC&rdquo;
</B>is the Office of Foreign Assets Control of the United States Department of the Treasury and any successor thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Operating
Documents&rdquo; </B>are, for any Person, such Person&rsquo;s formation documents, as certified by the Secretary of State (or equivalent
agency) of such Person&rsquo;s jurisdiction of organization on a date that is no earlier than 30 days prior to the Effective Date, if
applicable, and, (a) if such Person is a corporation, its bylaws in current form, certificate of incorporation or memorandum and/or articles
of association (or similar document, as the case may be) (b) if such Person is a limited liability company, its limited liability company
agreement (or similar agreement), and (c) if such Person is a partnership or limited partnership, its partnership agreement or limited
partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Other
Connection Taxes&rdquo; </B>means, with respect to Bank, Taxes imposed as a result of a present or former connection between Bank and
the jurisdiction imposing such Tax (other than connections arising from Bank having executed, delivered, become a party to, performed
its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant
to or enforced any Loan Document, or sold or assigned an interest in any Credit Extension or Loan Document).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Other
Taxes&rdquo; </B>means all present or future stamp, court, documentary, intangible, recording, filing VAT (including financial institution
profits tax) or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration
of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes
that are Other Connection Taxes imposed with respect to an assignment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Overadvance&rdquo;
</B>is defined in Section 1.3.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Patents&rdquo;
</B>means all patents, patent applications and like protections including without limitation improvements, divisions, continuations,
renewals, reissues, extensions and continuations-in-part of the same.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Payment
Date&rdquo; </B>is set forth on Schedule I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Perfection
Certificate&rdquo; </B>is each Perfection Certificate delivered by each Borrower in connection with this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Permitted
Indebtedness&rdquo;</B> is:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Borrower&rsquo;s Indebtedness to Bank under this Agreement and the other Loan Documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Indebtedness existing on the Effective Date which is shown on the Perfection Certificate;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Subordinated Debt;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
unsecured Indebtedness to trade creditors incurred in the ordinary course of business;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (d) above, provided
that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower
or its Subsidiary, as the case may be.</FONT></P>

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Investments&rdquo;</B> are:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Investments (including, without limitation, Subsidiaries) existing on the Effective Date which are shown on the Perfection Certificate
(specifically excluding future investments in Subsidiaries);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Investments consisting of Cash Equivalents, and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Investment by either Borrower in any other Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
Investments by Borrower in the Russian Subsidiary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Permitted
Liens&rdquo;</B> are:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Liens arising under this Agreement or any other Loan Documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Liens for taxes, fees, assessments or other government charges or levies, either (i) not due and payable or (ii) being contested in good
faith and for which Borrower maintains adequate reserves on Borrower&rsquo;s Books, provided that no notice of any such Lien has been
filed or recorded under the Internal Revenue Code; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Liens incurred in the extension, renewal or refinancing of the Indebtedness secured by Liens described in (a) through (c), but any extension,
renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness
may not increase;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 63.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Person&rdquo;
</B>is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Prime
Rate&rdquo; </B>is set forth on Schedule I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Prime
Rate Margin&rdquo; </B>is set forth on Schedule I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Registered
Organization&rdquo; </B>is any &ldquo;registered organization&rdquo; as defined in the Code with such additions to such term as may hereafter
be made.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Representatives&rdquo;
</B>is defined in Section 11.8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Reserves&rdquo;
</B>means, as of any date of determination, such amounts as Bank may from time to time establish and revise in its sole discretion, reducing
the amount of Advances and other financial accommodations which would otherwise be available to Borrower (a) to reflect events, conditions,
contingencies or risks which, as determined by Bank in its sole discretion, do or may adversely affect (i) the Collateral or any other
property which is security for the Obligations or its value (including without limitation any increase in delinquencies of Accounts),
(ii) the assets or business or prospects of Borrower or any Guarantor, or (iii) the security interests and other rights of Bank in the
Collateral (including the enforceability, perfection and priority thereof); or (b) to reflect Bank&rsquo;s reasonable belief that any
collateral report or financial information furnished by or on behalf of Borrower or any Guarantor to Bank is or may have been incomplete,
inaccurate or misleading in any material respect; or (c) in respect of any state of facts which Bank determines in its sole discretion
constitutes a Default or an Event of Default.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Responsible
Officer&rdquo; </B>is any of the Chief Executive Officer, President, Chief Financial Officer and Controller of Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Restricted
License&rdquo; </B>is any material license or other material agreement with respect to which Borrower is the licensee (a) that prohibits
or otherwise restricts Borrower from granting a security interest in Borrower&rsquo;s interest in such license or agreement or any other
property, or (b) for which a default under or termination of could interfere with Bank&rsquo;s right to sell any Collateral.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Revolving
Line&rdquo; </B>is set forth on Schedule I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Revolving
Line Maturity Date&rdquo; </B>is set forth on Schedule I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Sanctioned
Person&rdquo; </B>means a Person that: (a) is listed on any Sanctions list maintained by OF AC or any similar Sanctions list maintained
by any other Governmental Authority having jurisdiction over Borrower; (b) is located, organized, or resident in any country, territory,
or region that is the subject or target of Sanctions; or (c) is 50.0% or more owned or controlled by one (1) or more Persons described
in clauses (a) and (b) hereof.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Sanctions&rdquo;
</B>means the economic sanctions laws, regulations, embargoes or restrictive measures administered, enacted or enforced by the United
States government and any of its agencies, including, without limitation, OFAC and the U.S. State Department, or any other Governmental
Authority having jurisdiction over Borrower.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Russian
Subsidiary&rdquo; </B>is Beamr Imaging RU.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;SEC&rdquo;
</B>is the Securities and Exchange Commission, any successor thereto, and any analogous Governmental Authority.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Securities
Account&rdquo; </B>is any &ldquo;securities account&rdquo; as defined in the Code with such additions to such term as may hereafter be
made.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Specified
Affiliate&rdquo; </B>is any Person (a) more than ten percent (10.0%) of whose aggregate issued and outstanding equity or ownership securities
or interests, voting, non-voting or both, are owned or held directly or indirectly, beneficially or of record, by Borrower, and/or (b)
whose equity or ownership securities or interests representing more than ten percent (10.0%) of such Person&rsquo;s total outstanding
combined voting power are owned or held directly or indirectly, beneficially or of record, by Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Subordinated
Debt&rdquo; </B>is indebtedness incurred by Borrower or any of its Subsidiaries subordinated to all of Borrower&rsquo;s or any of its
Subsidiaries&rsquo; now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in
form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Subsidiary&rdquo;
</B>is, as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock, partnership,
membership, or other ownership interest or other equity securities having ordinary voting power (other than stock, partnership, membership,
or other ownership interest or other equity securities having such power only by reason of the happening of a contingency) to elect a
majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management
of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless the context
otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower or Guarantor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Taxes&rdquo;
</B>means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto
(including for avoidance of doubt, Other Taxes, Connection Taxes and Excluded Taxes).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Trademarks&rdquo;
</B>means, with respect to any Person, any trademark and servicemark rights, whether registered or not, applications to register and
registrations of the same and like protections, and the entire goodwill of the business of such Person connected with and symbolized
by such trademarks.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Transfer&rdquo;
</B>is defined in Section 6.1.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;US
Borrower&rdquo; </B>is defined in Schedule I of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;USA
Patriot Act&rdquo; </B>means the &ldquo;Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of2001&rdquo; (Public Law 107-56, signed into law on October 26, 2001), as amended from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Warrant&rdquo;
</B>is that certain Warrant to Purchase Stock dated as of the Effective Date between ISR Borrower and Bank, as amended, modified, supplemented
and/or restated from time to time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Western
Europe&rdquo; </B>means the United Kingdom, the Republic of Ireland, Spain, Italy, Portugal, France, Germany, Switzerland, Belgium, The
Netherlands, Norway, Sweden, Finland and Denmark.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>[Signature
page follows]</I></FONT></P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IN
WITNESS WHEREOF, </B>the parties hereto have caused this Agreement to be executed under the laws of the State of California as of the
Effective Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BORROWER:
    </B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BEAMR,
    INC.</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Sharon
    Carmel&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sharon
    Carmel&nbsp;&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BEAMR
    IMAGING LTD</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Sharon
    Carmel&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sharon
Carmel&nbsp;&#8239;&#8239;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CEO</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BANK:</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SILICON
    VALLEY BANK</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Ella Botham</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ella Botham</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice President</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Signature
Page to Loan and Security Agreement</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>SCHEDULE
I<BR>
LSA PROVISIONS</U></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-left: -0.4pt; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 175.9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>LSA
    Section</U></B></FONT></TD>
    <TD STYLE="padding-left: 4pt; border: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 313.15pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>LSA
    Provision</U></B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1(a)
    <B>-</B> Revolving Line <B>-</B>Availability</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts
    borrowed under the Revolving Line may be prepaid or repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to
    the applicable terms and conditions precedent herein.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4(a)(i)
    <B>-</B> Interest Payments <B>-</B>Advances</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    on the principal amount of each Advance is payable in arrears monthly (A) on each Payment Date and (B) on the Revolving Line Maturity
    Date.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4(b)(i)
    <B>-</B> Interest Rate <B>-</B> Advances</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    outstanding principal amount of any Advance shall accrue interest at a floating rate per annum equal to the greater of (1) Eight
    and one quarter of one percent (8.25%) and (2) the Prime Rate plus the Prime Rate Margin, which interest shall be payable in accordance
    with Section l .4(a).</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4(f)
    <B>-</B> Interest Computation</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    shall be computed on the basis of the actual number of days elapsed and a 360-day year for any Credit Extension outstanding.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.5(a)
    <B>-</B> Revolving Line Commitment Fee</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
    fully earned, non-refundable commitment fee of$2,500 on the Effective Date.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.8
    <B>-</B> Borrower Liability</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
    Borrower hereunder shall be jointly and severally obligated to repay all Credit Extensions made hereunder and any other Obligations
    related thereto, regardless of which Borrower actually receives said Credit Extension, as if each Borrower hereunder directly received
    all Credit Extensions.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2
    <B>-</B> &ldquo;Borrower(s)&rdquo;</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Borrower(s)&rdquo;
    </B>means each of (i) <B>BEAMR, INC. </B>a Delaware corporation with its principal place of business at 16185 Los Gatos Blvd Ste
    205, Mailbox 12 Los Gatos, CA 95032 (<B>&ldquo;US Borrower&rdquo;</B>) and (ii) <B>BEAMR IMAGING LTD, </B>a company organized under
    the laws of Israel corporation with its principal place of business at 10 Hamenofim St.Herzliya, Israel 4672561 (<B>&ldquo;ISR Borrower&rdquo;</B>).</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2
    <B>-</B> &ldquo;Effective Date&rdquo;</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Effective
    Date&rdquo; </B>is February 17, 2022.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2
    <B>- </B>&ldquo;Payment Date&rdquo;</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Payment
    Date&rdquo; </B>is with respect to Advances, the last calendar day of each month.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2
    <B>-</B> &ldquo;Prime Rate&rdquo;</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Prime
    Rate&rdquo; </B>is the rate of interest per annum from time to time published in the money rates section of <U>The Wall Street Journal
    </U>or any successor publication thereto as the &ldquo;prime rate&rdquo; then in effect; provided that if such rate of interest,
    as set forth from time to time in the money rates section of <U>The Wall Street Journal</U>, becomes unavailable for any reason as
    determined by Bank, the &ldquo;Prime Rate&rdquo; shall mean the rate of interest per annum announced by Bank as its prime rate in
    effect at its principal office in the State of California (such Bank announced Prime Rate not being intended to be the lowest rate
    of interest charged by Bank in connection with extensions of credit to debtors); provided that, in the event such rate of interest
    is less than zero percent (0.0%) per annum, such rate shall be deemed to be zero percent (0.0%) per annum for purposes of this Agreement.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2
    <B>- </B>&ldquo;Prime Rate Margin&rdquo;</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Prime
    Rate Margin&rdquo; </B>is Five percent (5.0%)</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2
    <B>-</B> &ldquo;Revolving Line&rdquo;</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Revolving
    Line&rdquo; </B>is an aggregate principal amount equal to $350,000.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-left: 4pt; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.2
    <B>- </B>&ldquo;Revolving Line Maturity Date&rdquo;</FONT></TD>
    <TD STYLE="padding-left: 4pt; border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Revolving
    Line Maturity Date&rdquo; </B>is December 31, 2022.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;<B>ACT</B>&rdquo;),
OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 6.3 AND 6.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY
TO THE COMPANY, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WARRANT
TO PURCHASE SHARES</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
WARRANT TO PURCHASE SHARES (as amended and in effect from time to time, this &ldquo;<B>Warrant</B>&rdquo;) is issued as of the issue
date set forth on Schedule I hereto (the &ldquo;<B>Issue Date</B>&rdquo;) by the company set forth on Schedule I hereto (the &ldquo;<B>Company</B>&rdquo;)
to SILICON VALLEY BANK in connection with that certain Loan and Security Agreement of even date herewith between them and Beamr Imaging
Ltd. (as amended and/or modified and in effect from time to time, the &ldquo;<B>Loan Agreement</B>&rdquo;), and shall be transferred
to SVB FINANCIAL GROUP pursuant to Section 6.4 below. The parties agree as follows:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE
I. <U>WARRANT PROVISIONS</U>.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: center; border: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 3pt 3pt 5pt 5pt; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Warrant
    Section</U></B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 67%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Warrant
    Provision</U></B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recitals
    &ndash; &ldquo;Issue Date&rdquo;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[<U>__________</U>],
    2022.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recitals
    &ndash; &ldquo;Company&rdquo;</FONT></TD>
    <TD STYLE="text-align: justify; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 3pt 3pt 5pt 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beamr
    Imaging Ltd, a company organized under the laws of Israel, with its principal place of business at 10 Hamenofim St.Herzliya, 4672561
    Israel</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1
    &ndash; &ldquo;Class&rdquo;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Series
    C Preferred Shares, with NIS 0.01 par value, or, upon Holder&rsquo;s written irrevocable election (in its sole discretion), the Next
    Equity Financing Securities.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<B>Next
Equity Financing Securities</B>&rdquo; means the same class and series, or other designation, of convertible preferred share or other
equity security sold and issued by the Company in the Next Equity Financing.</FONT></P></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1
    &ndash; &ldquo;Exercise Price&rdquo;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1.024166667
    per Share, provided that if the Class is Next Equity Financing Securities, then the Exercise Price shall be the Next Equity Financing
    Price.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<B>Next
    Equity Financing Price</B>&rdquo; means the lowest price per share for which Next Equity Financing Securities are sold or issued
    by the Company in the Next Equity Financing.</FONT></P></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2
    &ndash; &ldquo;Shares&rdquo;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,921
                                                                                                                                                  Shares of the Class, <I>provided that</I> if the Class is Next Equity Financing Securities, then the number of Shares shall be an
                                                                                                                                                  amount equal to US$24,500 divided by the Next Equity Financing Price.</FONT></P></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3
    &ndash; Conditions for issuance of Shares</FONT></TD>
    <TD STYLE="text-align: justify; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 3pt 3pt 5pt 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    making of the initial Advance (as defined in the Loan Agreement) to the Company.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1(b)
    &ndash; Share percentage as of the Issue Date</FONT></TD>
    <TD STYLE="text-align: justify; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 3pt 3pt 5pt 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>____</U>%
    of the Company&rsquo;s total fully-diluted issued and outstanding shares of capital shares.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1(a)
    &ndash; &ldquo;Expiration Date&rdquo;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 5pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[<U>________</U>],
    2037.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt">February 16, 2021</P>

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

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

<!-- Field: Page; Sequence: 54 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION
1. <U>RIGHT TO PURCHASE SHARES</U>.</FONT></P>

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

<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 35pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1 <U>Grant
of Right</U>. For good and valuable consideration, the Company hereby grants to SILICON VALLEY BANK (together with any successor or
permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, &ldquo;<B>Holder</B>&rdquo;) the
right, and Holder is entitled, to purchase from the Company up to the number of fully paid and non-assessable shares (as determined
pursuant to Section 1.2 below) of the class set forth on Schedule I hereto (the &ldquo;<B>Class</B>&rdquo;), at a purchase price per
Share set forth on Schedule I hereto (the &ldquo;<B>Exercise Price</B>&rdquo;), subject to the provisions and upon the terms and
conditions set forth in this Warrant, <U>provided</U>, that concurrently with the closing of the Next Equity Financing (or the date
that is seven (7) Business Days following Holder&rsquo;s receipt of the Next Equity Financing Notice, if later), upon Holder&rsquo;s
written election (in its sole discretion) to the Company delivered not later than two (2) days prior to such closing (or such later
date), the &ldquo;Class&rdquo; shall be Next Equity Financing Securities from and after such closing (or later date), subject to
adjustment thereafter from time to time in accordance with the provisions of this Warrant.</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2 <U>Number
of Shares</U>. This Warrant shall be exercisable for the number of shares of the Class as set forth on Schedule I hereto, as may be
adjusted from time to time in accordance with the provisions of this Warrant, the &ldquo;<B>Shares</B>&rdquo;)</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3
<U>Certain Definitions</U>. As used herein, the following definitions have the respective meanings set forth below:</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<B>Next
Equity Financing</B>&rdquo; means the first sale or issuance by the Company on or after the Issue Date of this Warrant set forth
above, in a single transaction or series of related transactions, of shares of its convertible preferred shares or other senior
equity securities to one or more investors for cash in a bona fide equity financing of the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION
2. <U>EXERCISE</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1 <U>Method
of Exercise</U>. Holder may exercise this Warrant in whole or in part at any time and from time to time prior to the expiration or
earlier termination of this Warrant, by delivering to the Company the original of this Warrant together with a duly executed Notice
of Exercise in substantially the form attached hereto as <U>Appendix 1</U> and, unless Holder is exercising this Warrant pursuant to
a cashless exercise set forth in Section 2.2 below, a check, wire transfer of same-day funds (to an account designated by the
Company), or other form of payment acceptable to the Company for the aggregate Exercise Price for the Shares being purchased.
Notwithstanding any contrary provision herein, to the extent that the original of this Warrant is an electronic original, in no
event shall an original ink-signed paper copy of this Warrant be required for any exercise of a Holder&rsquo;s rights hereunder, nor
shall this Warrant or any physical copy hereof be required to be physically surrendered at the time of any exercise
hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2 <U>Cashless
Exercise</U>. On any exercise of this Warrant, in lieu of payment of the aggregate Exercise Price in the manner specified in Section
2.1 above, Holder may elect to surrender to the Company Shares having an aggregate value equal to the aggregate Exercise Price, or
portion hereof as to which this Warrant is being exercised. If Holder makes such election, the Company shall issue to Holder such
number of fully paid and non-assessable Shares determined by the following formula:</FONT></P>

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

<P STYLE="text-indent: 1in; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">X
= Y(A-B)/A</FONT></P>

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

<P STYLE="text-indent: 1in; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">where:</FONT></P>

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

<P STYLE="text-indent: 1in; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">X
= the number of Shares to be issued to Holder;</FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Y
= the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;surrendered to the Company in
payment of the aggregate Exercise Price);</FONT></P>

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

<P STYLE="text-align: justify; text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
= the fair market value (as determined pursuant to Section 2.3 below) of one Share; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B = the Exercise Price.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3 <U>Fair
Market Value</U>. If shares of the Company&rsquo;s ordinary shares are then traded or quoted on a nationally recognized securities
exchange, inter-dealer quotation system or over-the-counter market (a &ldquo;Trading Market&rdquo;) and the Class is ordinary
shares, the fair market value of a Share shall be the closing price or last sale price of a share of the Company&rsquo;s ordinary
shares reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of
Exercise to the Company. If shares of the Company&rsquo;s ordinary shares are then traded in a Trading Market and the Class is a
series of the Company&rsquo;s convertible preferred shares, the fair market value of a Share shall be the closing price or last sale
price of a share of the Company&rsquo;s ordinary shares reported for the Business Day immediately before the date on which Holder
delivers this Warrant together with its Notice of Exercise to the Company multiplied by the number of shares of the Company&rsquo;s
ordinary shares into which a Share is then convertible. If shares of the Company&rsquo;s ordinary shares are not then traded in a
Trading Market, the Board of Directors of the Company (the &ldquo;<B>Board</B>&rdquo;) shall determine the fair market value of the
Class in its reasonable good faith judgment, <I>provided however</I>, that for purposes of determining the fair market value of a
Share in connection with Automatic Cashless Exercise upon Expiration in accordance with Section 5.1 below, the Board shall determine
the fair market value of a Share based on the valuation prepared by a reputable independent appraiser selected by the Holder with
the consent of the Company (which consent shall not be unreasonably withheld), and whose fees and expenses shall be borne by the
Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4 <U>Delivery
of Certificate and New Warrant</U>. Within a reasonable time after Holder exercises this Warrant in the manner set forth in Sections
2.1 or 2.2 above, the Company shall deliver to Holder a certificate (or, in the case of uncertificated securities, provide notice of
book entry) representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has
not expired, a new warrant of like tenor representing the Shares not so acquired (or surrendered in payment of the aggregate
Exercise Price).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.5</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Replacement of Warrant</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <U>Paper
Original Warrant</U>. To the extent that the original of this Warrant is a paper original, on receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or
destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the
case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time,
execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <U>Electronic
Original Warrant</U>. To the extent that the original of this Warrant is an electronic original, if at any time this Warrant is
rejected by any person (including, but not limited to, paying or escrow agents) or any such person fails to comply with the terms of
this Warrant based on this Warrant being presented to such person as an electronic record or a printout hereof, or any signature
hereto being in electronic form, the Company shall, promptly upon Holder&rsquo;s request and without indemnity, execute and deliver
to Holder, in lieu of electronic original versions of this Warrant, a new warrant of like tenor and amount in paper form with
original ink signatures.</FONT></P>

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

<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 35pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Treatment of Warrant Upon Acquisition of Company.</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <U>Acquisition</U>.
&ldquo;<B>Acquisition</B>&rdquo; means any transaction or series of related transactions involving: (i) the sale, lease, exclusive
license, or other disposition of all or substantially all of the assets of the Company, <I>provided </I>that the entire
consideration for such transaction is proposed to be distributed, as soon as legally practicable thereafter and in any event within
120 days from the consummation thereof, to the shareholders of the Company; (ii) any merger or consolidation of the Company into or
with another person or entity (other than a merger or consolidation effected exclusively to change the Company&rsquo;s domicile), or
any other corporate reorganization, in which the shareholders of the Company in their capacity as such immediately prior to such
merger, consolidation or reorganization, own less than a majority of the Company&rsquo;s (or the surviving or successor
entity&rsquo;s) outstanding voting power immediately after such merger, consolidation or reorganization; or (iii) any sale or other
transfer by the shareholders of the Company of shares representing at least a majority of the Company&rsquo;s then-total outstanding
combined voting power. For the avoidance of doubt, &ldquo;Acquisition&rdquo; shall not include any sale and issuance by the Company
of shares of its capital shares or of securities or instruments exercisable for or convertible into, or otherwise representing the
right to acquire, shares of its capital shares to one or more investors for cash in a transaction or series of related transactions
the primary purpose of which is a bona fide equity financing of the Company.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <U>Treatment
of Warrant in Cash/Public Acquisition</U>. In the event of an Acquisition in which the consideration to be received by the holders
of the outstanding shares of the Class (in their capacity as such) consists solely of cash, solely of Marketable Securities (as
hereinafter defined) or a combination of cash and Marketable Securities (a &ldquo;<B>Cash/Public Acquisition</B>&rdquo;), and the
fair market value of one Share as determined in accordance with Section 2.3 above would be greater than the Exercise Price in effect
as of immediately prior to the closing of such Cash/Public Acquisition, and Holder has not previously exercised this Warrant in
full, then, in lieu of Holder&rsquo;s exercise of the unexercised portion of this Warrant, this Warrant shall, as of immediately
prior to such closing (but subject to the occurrence thereof) automatically cease to represent the right to purchase Shares and
shall, from and after such closing, represent solely the right to receive the aggregate consideration that would have been payable
in such Acquisition on and in respect of all Shares for which this Warrant was exercisable as of immediately prior to the closing
thereof, net of the aggregate Exercise Price therefor, as if such Shares had been issued and outstanding to Holder as of immediately
prior to such closing, as and when such consideration is paid to the holders of the outstanding shares of the Class. In the event of
a Cash/Public Acquisition in which the fair market value of one Share as determined in accordance with Section 2.3 above would be
equal to or less than the Exercise Price in effect as of immediately prior to the closing of such Cash/Public Acquisition, then this
Warrant will automatically and without further action of any party terminate as of immediately prior to such closing.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) <U>Treatment
of Warrant in non-Cash/Public Acquisition</U>. Upon the closing of any Acquisition other than a Cash/Public Acquisition, the
acquiring, surviving or successor entity shall assume this Warrant and the Company&rsquo;s obligations hereunder, and this Warrant
shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Shares issuable upon
exercise of the unexercised portion of this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition,
at an aggregate Exercise Price equal to the aggregate Exercise Price in effect as of immediately prior to such closing, all subject
to further adjustment from time to time thereafter in accordance with the provisions of this Warrant.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) <U>Marketable
Securities</U>. &ldquo;<B>Marketable Securities</B>&rdquo; means securities meeting all of the following requirements (determined as
of immediately prior to the closing of the Acquisition): (i) the issuer thereof is then subject to the reporting requirements of
Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;), and is then
current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of
shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder to exercise
this Warrant on or prior to the closing thereof is then traded in a Trading Market, and (iii) following the closing of such
Acquisition, Holder would not be restricted from publicly re-selling all of the issuer&rsquo;s shares and/or other securities that
would be received by Holder in such Acquisition were Holder to exercise this Warrant in full on or prior to the closing of such
Acquisition, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or
regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition. Notwithstanding the foregoing
provisions of this Section 2.6(d), securities held in escrow or subject to holdback to cover indemnification-related claims shall be
deemed to be Marketable Securities if they would otherwise be Marketable Securities but for the fact that they are held in escrow or
subject to holdback to cover indemnification-related claims.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION
3. <U>CERTAIN ADJUSTMENTS TO THE SHARES, CLASS AND EXERCISE PRICE</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1 <U>Shares
Dividends, Splits, Etc</U>. If the Company declares or pays a dividend or distribution on the outstanding shares of the Class
payable in additional shares of the Class (including fractional shares) or other securities or property (other than cash), then upon
exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and
kind of securities and property which Holder would have received had Holder owned the Shares of record as of the date the dividend
or distribution occurred. If the Company subdivides the outstanding shares of the Class by reclassification or otherwise into a
greater number of shares, the number of Shares purchasable hereunder shall be proportionately increased, even if such number would
include fractional shares, and the Exercise Price shall be proportionately decreased. If the outstanding shares of the Class are
combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Exercise Price shall be
proportionately increased and the number of Shares shall be proportionately decreased, even if such number would include fractional
shares.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2 <U>Reclassification,
Exchange, Combination or Substitution</U>. Upon any event whereby all of the outstanding shares of the Class are reclassified,
exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from
and after the consummation of such event, &ldquo;Class&rdquo; shall mean such securities and this Warrant will be exercisable for
the number of such securities that Holder would have received had the Shares been outstanding on and as of the consummation of such
event, at an aggregate Exercise Price equal to the aggregate Exercise Price in effect as of immediately prior to such event, all
subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant. The provisions of this
Section 3.2 shall similarly apply to successive reclassifications, exchanges, combinations, substitutions, replacements or other
similar events.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3 <U>Adjustment
to Exercise Price on Cash Dividend</U>. In the event that the Company at any time or from time to time prior to the exercise in full
of this Warrant pays any cash dividend on the outstanding shares of the Class or makes any cash distribution on or in respect of all
outstanding shares of the Class (other than a distribution of cash proceeds received by the Company in connection with an
Acquisition described in Section 2.6(a)(i) above), then on and as of the date of each such dividend payment and/or distribution, the
Exercise Price shall be reduced by an amount equal to the amount paid or distributed upon or in respect of each outstanding share of
the Class; provided that in no event shall the Exercise Price be reduced below the then-par value, if any, of a share of the
Class.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.4 <U>No
Fractional Share</U>. No fractional Share shall be issued upon exercise of this Warrant, and the number of Shares to be issued shall
be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of this Warrant, the Company
shall eliminate such fractional Share interest by paying Holder in cash an amount equal to (a) such fractional interest, multiplied
by (b)(i) the fair market value (as determined in accordance with Section 2.3 above) of a full Share, less (ii) the then-effective
Exercise Price (the &ldquo;<B>Fractional Share Value</B>&rdquo;), unless Holder otherwise elects, in its sole discretion, to waive
such payment. Notwithstanding any contrary provision herein, if this Warrant becomes exercisable for a fractional Share interest at
any time or from time to time prior to the exercise in full of this Warrant, and the Company eliminates such fractional Share
interest prior to any exercise of this Warrant, then the then-effective Exercise Price shall be reduced by an amount equal to the
Fractional Share Value, unless Holder otherwise elects, in its sole discretion, to waive such reduction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5 <U>Certificate
as to Adjustments</U>. Within a reasonable time following each adjustment of the Exercise Price, Class and/or number of Shares
pursuant to the terms of this Warrant, the Company, at its expense, shall deliver a certificate of its Chief Financial Officer or
other authorized officer to Holder setting forth the adjustments to the Exercise Price, Class and/or number of Shares and the facts
upon which such adjustments are based. The Company shall, at any time and from time to time within a reasonable time following
Holder&rsquo;s written request and at the Company&rsquo;s expense, furnish Holder with a certificate of its Chief Financial Officer
or other authorized officer setting forth the then-current Exercise Price, Class and number of Shares and the computations or other
determinations thereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.6 <U>Conversion
of Preferred Shares</U>. If the Class is a class and series of the Company&rsquo;s convertible preferred shares, in the event that
all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into ordinary shares pursuant
to the provisions of the Company&rsquo;s Articles of Association as then in effect, including, without limitation, in connection
with the IPO (as hereinafter defined), then from and after the date on which all outstanding shares of the Class have been so
converted, this Warrant shall be exercisable for such number of shares of ordinary shares into which the Shares would have been
converted had the Shares been outstanding on the date of such conversion, and the Exercise Price shall equal the Exercise Price in
effect as of immediately prior to such conversion divided by the number of shares of ordinary shares into which one Share would have
been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this
Warrant.]</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.7 <U>Adjustments
for Diluting Issuances</U>. Without duplication of any adjustment otherwise provided for in this Section 3, the number of shares of
ordinary shares issuable upon conversion of the Shares shall be subject to anti-dilution adjustment from time to time in the manner
set forth in the Company&rsquo;s Articles of Association, as amended and in effect from time to time, as if the Shares were issued
and outstanding on and as of the date of any such required adjustment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8 <U>Pay
to Play Adjustments</U>. Notwithstanding the definition of &ldquo;Class&rdquo; herein, if Pay to Play Provisions are at any time
during the term of this Warrant applied to the outstanding shares of the Class, then from and after such application,
&ldquo;Class&rdquo; shall mean that class and series of the Company&rsquo;s securities that a holder of outstanding shares of the
Class as of immediately prior to such application would have received or retained had such holder participated in the manner
necessary to receive or retain the class and series of the Company&rsquo;s securities having the relative rights, powers, privileges
and preferences more favorable to the holder. &ldquo;<B>Pay to Play Provisions</B>&rdquo; means provisions set forth in the
Company&rsquo;s Articles of Association or elsewhere that require holders of the outstanding shares of the Class to participate in a
subsequent round of equity financing of the Company or lose all or a portion of the benefit of anti- dilution protection or any
other right, power, privilege or preference applicable to such shares or have such shares automatically
convert to ordinary shares or another class or series of Company share capital.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION
4.&#9;<U>REPRESENTATIONS AND COVENANTS OF THE COMPANY</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1
Representations and Warranties. The Company represents and warrants to, and agrees with, Holder as follows:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
The Exercise Price first set forth above is not greater than the lowest price per share for which shares of the Class were last sold
and issued for cash payment prior to the Issue Date hereof in an arms-length transaction in which at least $500,000 of such shares
were sold.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
The Shares for which this Warrant is exercisable on and as of the Issue Date hereof represent not less than the share percentage set
forth on Schedule I hereto, calculated on and as of the Issue Date hereof on a fully-diluted, ordinary shares-equivalent basis (but
without excluding shares of capital shares that are not convertible into shares of ordinary shares) assuming (i) the conversion into
ordinary shares of all outstanding securities and instruments (including, without limitation, securities deemed to be outstanding
pursuant to clause (ii) of this Section 4.1(b)) convertible by their terms into shares of ordinary shares (regardless of whether
such securities or instruments are by their terms now so convertible), (ii) the exercise in full of all outstanding options,
warrants (including, without limitation, this Warrant) and other rights to purchase or acquire shares of ordinary shares or
securities exercisable for or convertible into shares of ordinary shares (regardless of whether such options, warrants or other
rights to purchase or acquire are by their terms now exercisable); and (iii) the inclusion of all shares of ordinary shares reserved
for issuance under all of the Company&rsquo;s incentive shares and shares option plans and not now subject to outstanding grants or
options.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
All Shares which may be issued upon the exercise of this Warrant and all securities issued on conversion of such Shares, if any,
shall, upon issuance, be duly authorized, validly issued, fully paid and non- assessable, and free of any liens and encumbrances
except for restrictions on transfer provided for herein or under the Company&rsquo;s Articles of Association, as amended and in
effect from time to time (the &ldquo;<B>Charter Documents</B>&rdquo;), any Shareholder Agreement (to the extent Holder is then a
party thereto or otherwise subject thereto in accordance with the provisions of Section <B>Error! Reference source not found. </B>below)
or applicable federal and state securities laws. The Company covenants that it shall at all times cause to be reserved and kept
available out of its authorized and unissued capital shares such number of shares of the Class and other securities as will be
sufficient to permit the exercise in full of this Warrant (and conversion of the Shares, if applicable).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
The Company&rsquo;s capitalization table attached hereto as <U>Appendix 2</U> is true and complete, in all material respects, as of
the Issue Date.</FONT></P>

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

<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 35pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Notice of Certain Events</U>. If the Company proposes at any time to:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
declare any dividend or distribution upon the outstanding shares of the Class (or on the outstanding shares of ordinary shares),
whether in cash, shares or other securities or property and whether or not a regular cash dividend;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
offer for subscription or sale pro rata to all holders of the outstanding shares of the Class (or on the outstanding shares of
ordinary shares) any additional securities of the Company (other than pursuant to contractual pre-emptive or first refusal
rights);</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
effect any redemption, reclassification, exchange, combination, substitution, reorganization or recapitalization of the outstanding
shares of the Class (or on the outstanding shares of ordinary shares);</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">effect an Acquisition, or to liquidate, dissolve or wind up the Company; or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
effect its initial, underwritten offering and sale of its securities to the public pursuant to an effective registration statement
under the Act (the &ldquo;<B>IPO</B>&rdquo;);</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">then,
in connection with each such event, the Company shall give Holder (pursuant to Section 6.5 below):</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 93.1pt"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 35.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
                                            the case of the matters referred to in (a) and (b) above, at least seven (7) Business Days
                                            prior written notice of the earlier to occur of the effective date thereof or the date on
                                            which a record will be taken for such dividend, distribution, or subscription rights (and
                                            specifying the date on which the holders of outstanding shares of the Class (or of the outstanding
                                            shares of ordinary shares) will be entitled thereto) or for determining rights to vote, if
                                            any;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 93.1pt"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 35.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
                                            the case of the matters referred to in (c) and (d) above, at least seven (7) Business Days
                                            prior written notice of the date when the same will take place (and specifying the date on
                                            which the holders of outstanding shares of the Class (or of the outstanding shares of ordinary
                                            shares) will be entitled to exchange their shares for the securities or other property deliverable
                                            upon the occurrence of such event and such reasonable information as Holder may reasonably
                                            require regarding the treatment of this Warrant in connection with such event giving rise
                                            to the notice); and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 93.1pt"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 35.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with
                                            respect to the IPO, at least seven (7) Business Days prior written notice of the date on
                                            which the Company proposes to make the first public filing of its registration statement
                                            in connection therewith.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3 <U>Certain
Company Information</U>. The Company will provide such information requested by Holder from time to time, within a reasonable time
following each such request, that is reasonably necessary to enable Holder to comply with Holder&rsquo;s accounting or reporting
requirements. Prior to the IPO, such information may include, but shall not be limited to, the Company&rsquo;s then-current summary
capitalization table, the price per share for which the Company most recently prior thereto sold or issued shares of its convertible
preferred shares to investors for cash in a bona fide equity financing of the Company, and the Company&rsquo;s most recent 409A
Valuation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4 <U>Next
Equity Financing Notice</U>. The Company shall provide written notice to Holder not less than seven (7) Business Days prior to the
anticipated closing of the Next Equity Financing, which notice shall state all material terms and conditions thereof and all
material rights, power, preferences and privileges of the Next Equity Financing Securities (the &ldquo;<B>Next Equity Financing
Notice</B>&rdquo;). Following delivery of such Next Equity Financing Notice, the Company shall promptly provide to Holder such
copies of the draft and execution versions of the transaction documents in connection with the Next Equity Financing (including,
without limitation, the Company&rsquo;s amended and/or restated Articles of Association, the securities purchase agreement and pre-
and post-closing capitalization tables) as Holder shall request from time to time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION
5. <U>REPRESENTATIONS AND COVENANTS OF HOLDER.</U></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holder
represents and warrants to, and agrees with, the Company as follows:</FONT></P>

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

<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 35pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Investment Representations</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f) <U>Purchase
for Own Account</U>. Except for the one-time transfer of this Warrant from Silicon Valley Bank to its parent SVB Financial Group
described in Section 6.4 below, this Warrant and the Shares to be acquired upon exercise hereof (and the securities issuable on
conversion of such Shares, if any) are being acquired for investment for Holder&rsquo;s account, not as a nominee or agent, and not
with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed
for the specific purpose of acquiring this Warrant or the Shares.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g) <U>Disclosure
of Information</U>. Holder is aware of the Company&rsquo;s business affairs and financial condition and has received or has had full
access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the
acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions of and receive
answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to
obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort
or expense) necessary to verify any information furnished to Holder or to which Holder has access.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h) <U>Investment
Experience</U>. Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder
has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic
risk of such Holder&rsquo;s investment in this Warrant and its underlying securities for an indefinite period of time, and has such
knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its
investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company
and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the
character, business acumen and financial circumstances of such persons.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) <U>Accredited
Investor Status</U>. Holder is an &ldquo;accredited investor&rdquo; within the meaning of Regulation D promulgated under the
Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j) <U>The
Act</U>. Holder understands that this Warrant and the Shares issuable upon exercise hereof (and the securities issuable on
conversion of such Shares, if any) have not been registered under the Act or registered or qualified under the securities laws of
any state, and are issued in reliance upon specific exemptions therefrom, which exemptions depend upon, among other things, the bona
fide nature of the Holder&rsquo;s investment intent as expressed herein. Holder understands that the Company is under no obligation
to so register or qualify this Warrant, the Shares or such other securities. Holder understands that this Warrant and the Shares
issued upon any exercise hereof (and the securities issuable on conversion of such Shares, if any) are &ldquo;restricted
securities&rdquo; under applicable federal and state securities laws and must be held indefinitely unless subsequently registered
under the Act and registered or qualified under applicable state securities laws, or unless exemptions from such registration and
qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2 <U>No
Shareholder Rights</U>. Without limiting any provision of this Warrant, Holder agrees that as a Holder of this Warrant it will not
have any rights (including, but not limited to, voting rights) as a shareholder of the Company with respect to the Shares issuable
hereunder (or the securities issuable on conversion of such Shares, if any) unless and until the exercise of this Warrant and then
only with respect to the Shares issued on such exercise (or the securities issued on conversion of such Shares, if any).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.3 <U>Market
Stand-off Agreement</U>. The Holder agrees that the Shares (and the securities issuable on conversion of such Shares, if any) shall
be subject to the Market Standoff provisions in Section of the Company&rsquo;s Investor Rights Agreement or similar agreement, as
amended and in effect from time to time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.4 <U>Confidential
Information</U>. Holder agrees to treat and hold all information provided by the Company pursuant to this Warrant in confidence in
accordance with the provisions of Section 11.8 of the Loan Agreement (regardless of whether the Loan Agreement shall then be in
effect).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION
6. <U>MISCELLANEOUS</U>.</FONT></P>

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

<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 35pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.1</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Term; Automatic Cashless Exercise Upon Expiration</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <U>Term</U>.
Subject to the provisions of Section 2.6 above, this Warrant is exercisable in whole or in part at any time and from time to time on
or before 6:00 PM, Pacific time, on the expiration date set forth on Schedule I hereto (the &ldquo;<B>Expiration Date</B>&rdquo;)
and shall be void thereafter; provided that if the Company does not deliver to Holder written confirmation of the fair market value
of a Share of the Class pursuant to Section 6.1(b) below, then the Expiration Date shall automatically be extended until the earlier
to occur of (i) such date as the Company delivers such written confirmation and (ii) one (1) year after the Expiration
Date.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <U>Automatic
Cashless Exercise upon Expiration</U>. In the event that, upon the Expiration Date, the fair market value of one Share as determined
in accordance with Section 2.3 above is greater than the Exercise Price in effect on such date, then this Warrant shall
automatically be deemed on and as of such date to be exercised pursuant to Section 2.2 above as to all Shares for which it shall not
previously have been exercised, and the Company shall, within a reasonable time following Holder&rsquo;s written request, deliver a
certificate (or, in the case of uncertificated securities, provide notice of book entry) representing the Shares issued to Holder
upon such exercise. If shares of the Company&rsquo;s ordinary shares are not then traded in a Trading Market, the Company shall
deliver to Holder, prior to the Expiration Date, written confirmation of the fair market value of a Share of the Class (as
determined pursuant to Section
2.3 above) to be used in determining whether this Warrant shall automatically exercise on the Expiration Date pursuant to this Section
6.1(b).</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.2 <U>Legends</U>.
Each certificate or notice of book entry evidencing Shares (and the securities issuable on conversion of such Shares, if any) shall
be imprinted with a legend in substantially the following form (together with such additional legends as may be required by the
Charter Documents):</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
&ldquo;<B>ACT</B>&rdquo;), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE SHARES
ISSUED BY THE ISSUER TO SILICON VALLEY BANK DATED <U>___________</U>,2022, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED
UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE
ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">And,
if then applicable, a legend in substantially the following form:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 35pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
SECURITIES EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK-UP
PERIOD AFTER THE EFFECTIVE DATE OF THE ISSUER&rsquo;S REGISTRATION STATEMENT FILED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AS
SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE SHARES ISSUED BY THE ISSUER TO SILICON VALLEY BANK DATED _____________, 2022 A COPY OF WHICH MAY BE
OBTAINED AT THE ISSUER&rsquo;S PRINCIPAL OFFICE. SUCH RESTRICTIONS ARE BINDING ON TRANSFEREES OF THESE SECURITIES.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.3 <U>Compliance
with Securities Laws on Transfer</U>. This Warrant and the Shares issued upon exercise hereof (and the securities issued on
conversion of such Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable US
federal and state, Israeli or other non US securities laws by the transferor and the transferee (including, without limitation, the
delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by
the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to SVB Financial Group
(Silicon Valley Bank&rsquo;s parent company) or any other affiliate of Holder; provided that any such transferee is an
&ldquo;accredited investor&rdquo; as defined in Regulation D promulgated under the Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.4
<U>Transfer Procedure</U>. After receipt by Silicon Valley Bank of the executed Warrant, Silicon Valley Bank will transfer, for value
received, all of its rights, title and interest in and to this Warrant to its parent company, SVB Financial Group, without any separate
assignment agreement. By its acceptance of this Warrant, SVB Financial Group, on and as of the date of such assignment, hereby makes
to the Company each of the representations and warranties set forth in Section 5.1 hereof and agrees to be bound by all of the terms
and conditions of this Warrant as if it were the original Holder hereof. Subject to the provisions of Section 6.3 and upon providing
the Company with written notice, SVB Financial Group and any subsequent Holder may transfer all or part of this Warrant or the Shares
issued upon exercise of this Warrant to any transferee; provided that in connection with any such transfer, SVB Financial Group or any
subsequent Holder will give the Company notice of the portion of the Warrant and/or Shares (and/or securities issued on conversion of
such Shares, if any) being transferred with the name, address and taxpayer identification number of the transferee, and Holder will surrender
this Warrant, or the certificates or other evidence of such Shares or other securities, to the Company for reissuance to the transferee(s)
(and to Holder if applicable); and provided further, that any subsequent transferee other than SVB Financial Group shall make substantially
the representations set forth in Section 5.1 above and shall agree in writing with the Company to be bound by all of the terms and conditions
of this Warrant; and provided further, that the transfer of any Shares issued on exercise hereof (or of any securities issued on conversion
of such Shares) shall be subject to the provisions of the Charter Documents. Notwithstanding any contrary provision herein, at all times
prior to the IPO, Holder may not, without the Company&rsquo;s prior written consent, transfer this Warrant or any portion hereof, or
any Shares issued upon any exercise hereof (or any securities issued on conversion of such Shares) to any person or entity who directly
competes with the Company (as determined by the Company&rsquo;s Board of Directors in its reasonable good faith judgment), except in
connection with an Acquisition of the Company by such a direct competitor.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.5 <U>Notices</U>.
All notices and other communications hereunder from the Company to the Holder, or vice versa, shall be deemed delivered and
effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified
mail, postage prepaid, (iii) upon actual receipt if given by electronic mail and such receipt is confirmed in writing by the
recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service, courier fee prepaid, in any
case at such address as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such
Holder from time to time in accordance with the provisions of this Section 6.5. All notices to Holder shall be addressed as follows
until the Company receives notice of a change of address in connection with a transfer or otherwise:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SVB
Financial Group</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn: Warrants</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80
East Rio Salado Parkway, Suite 600</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tempe, AZ 85281</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telephone:
(480) 557-4900</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: SVBFGWarrants@svb.com</FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
notices to the Company shall be addressed as follows until Holder receives notice of a change in address:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="image_001.jpg" ALT="" STYLE="width: 170px; height: 2px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Chief Financial Officer</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 170px; height: 2px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telephone:
<U>_________________</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:
<U>_____________________</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 35pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
a copy (which shall not constitute notice) to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 170px; height: 2px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
<U>____________________</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telephone:
<U>________________</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email:
<U>_____________________</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.6 <U>Amendment
and Waiver</U>. Notwithstanding any contrary provision herein or in the Loan Agreement, this Warrant may be amended and any
provision hereof waived (either generally or in a particular instance and either retroactively or prospectively) only by an
instrument in writing signed by Holder and any party against which enforcement of such amendment or waiver is sought.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.7
<U>Counterparts; Electronic Signatures; Status as Certificated Security</U>. This Warrant may be executed by one or more of the parties
hereto in any number of separate counterparts, all of which together shall constitute one and the same instrument. The Company, Holder
and any other party hereto may execute this Warrant by electronic means and each party hereto recognizes and accepts the use of electronic
signatures and the keeping of records in electronic form by any other party hereto in connection with the execution and storage hereof.
To the extent that this Warrant or any agreement subject to the terms hereof or any amendment hereto is executed, recorded or delivered
electronically, it shall be binding to the same extent as though it had been executed on paper with an original ink signature, as provided
under applicable law, including, without limitation, any state law based on the Uniform&nbsp;Electronic Transactions Act. The fact that
this Warrant is executed, signed, stored or delivered electronically shall not prevent the transfer by any Holder of this Warrant pursuant
to Section 6.4 or the enforcement of the terms hereof. To the extent that the original of this Warrant is an electronic original, this
Warrant, and any copies hereof, shall NOT be deemed to be a &ldquo;certificated security&rdquo; within the meaning of Section 8102(a)(4)
of the California Commercial Code. Physical possession of the original of this Warrant or any paper copy thereof shall confer no special
status to the bearer thereof.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.8 <U>Headings</U>.
The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision
of this Warrant.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.9 <U>Business
Days</U>. &ldquo;<B>Business Day</B>&rdquo; means any day that is not a Saturday, Sunday or a day on which banks in California are
closed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.10 <U>Severability</U>.
In the event that any provision of this Warrant becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Warrant shall continue in full force and effect without said provision, and such provision shall be
given effect to the extent legally possible.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.11 <U>Delays
or Omissions</U>. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing to any
Holder, upon any breach or default of the Company under this Warrant, shall impair any such right, power or remedy of such Holder
nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach
or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or
default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any
Holder of any breach or default under this Warrant, or any waiver on the part of any Holder of any provisions or conditions of this
Warrant, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either
under this Warrant or by law or otherwise afforded to any holder, shall be cumulative and not alternative.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION
7. <U>GOVERNING LAW; JURISDICTRION</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.1 <U>Governing
Law; Jurisdiction</U>. This Warrant shall be governed by and construed in accordance with the laws of the State of Israel, without
giving effect to its principles regarding conflicts of law, and the parties hereto irrevocably submit to the exclusive jurisdiction
of the Courts of Tel Aviv, Israel, in respect of any dispute or matter arising out of or connected with this Warrant.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.2</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Survival</U>. This Section 7 shall survive the termination of this Warrant.</FONT></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECTION
8. <U>TAX</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.1</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>TAX.</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 70.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Holder shall bear full responsibility for all tax obligations and consequences relating to the issuance, transfer or exercise of
this Warrant or sale of the Shares issuable upon the exercise of this Warrant, which by their nature apply to holders of warrants.
In the event that the Company is required under applicable law to withhold any tax as a result of the exercise of this Warrant
and/or the issuance of the Shares underlying the Warrant, the Company will be entitled to withhold such taxes in accordance with
applicable law; provided, however, that if Holder provides the Company with a valid certificate of exemption from tax withholding or
a determination applying a reduced withholding tax rate or any other instructions regarding the payment of withholding taxes issued
by the Israel Tax Authority, then such withholding (if any) shall be made only in accordance with the provisions of such
certificate.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event that the Company is required under Israeli law to withhold taxes in connection with the exercise of this Warrant and/or the
issuance of the Shares underlying the Warrant in accordance with the provisions of Section (a) above, the Company shall be entitled to
(i) deduct such amounts actually paid by the Company to the Israeli Tax Authority from any cash consideration payable to the Holder as
a result of such exercise and/or issuance, as the case may be, or (ii) absent of such sufficient cash consideration, the Holder shall
reimburse the Company for such shortfall of cash amount actually withheld by the Company and paid to the applicable Israeli tax authority;
in each case provided that: (i) prior to making any tax withholding payment, the Company shall advise Holder in writing of such proposed
payment in order to allow Holder to present to the Company a valid certificate of exemption from tax withholding or a determination applying
a reduced withholding tax rate or any other instructions regarding the payment of withholding taxes issued by the Israel Tax Authority,
(ii) in connection with the tax withheld by the Company, if any, the Company will furnish Holder with proof reasonably satisfactory to
Holder indicating that the Company has made all such withholding tax payments, and (iii) the Company will cooperate with Holder in connection
with any information and documentation reasonably required by Holder in connection with credits, exemptions, rebates, or other benefits
to be obtained by Holder in connection with such withholding payments made by the Company, which credits, exemptions, rebates, or other
benefits shall be property of the Holder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>[Signature
page follows]</I></FONT></P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IN
WITNESS WHEREOF</B>, the parties have caused this Warrant To Purchase Shares to be executed by their duly authorized representatives
effective as of the Issue Date written above.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: left"><U>COMPANY</U>:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>BEAMR IMAGING LTD</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; width: 60%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">Name:&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: left"><U>HOLDER</U>:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>SILICON VALLEY BANK</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">APPENDIX
1</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Form
of Notice of Exercise of Warrant</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 35pt; text-align: justify; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
The undersigned Holder hereby exercises its right to purchase<U>________</U>shares of the [Ordinary] / [Series<U>______</U>Preferred]
[circle one] Shares of<U>______________</U>(the &ldquo;<B>Company</B>&rdquo;) in accordance with the attached Warrant To Purchase
Shares, and tenders payment of the aggregate Exercise Price for such shares as follows:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="width: 35pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 35pt">[<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
    in the amount of $<U>________</U>payable to order of the Company enclosed herewith</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wire
    transfer of immediately available funds to the Company&rsquo;s account</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cashless
                                                                              exercise pursuant to Section 2.2 of the Warrant, resulting in the issuance of <U>______________</U>shares of the [Ordinary] /
                                                                              [Series<U>__________</U>Preferred] [circle one] Shares of the Company</FONT></P></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">[<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
[Describe] ______________________________________</FONT></TD></TR>
</TABLE>

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

<P STYLE="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
 Please issue a certificate or certificates (or evidence of book entry) representing the Shares in the name specified
below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 70pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">________________________________________&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 70pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 90pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holder&rsquo;s
Name</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 70pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 70pt; text-align: justify">________________________________________<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 70pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 70pt; text-align: justify">________________________________________<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 90pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 70pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
By its execution below and for the benefit of the Company, Holder hereby makes each of the representations and warranties set forth
in Section 5.1 of the Warrant To Purchase Shares as of the date hereof.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">HOLDER:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; width: 60%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">(Date):</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  </TABLE>

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>Exhibit 10.1

 

Execution Version

 

FACILITy
AGREEMENT

 

DATEd
18 February 2022

 

between

 

among others

 

Ulanqab Lamb Weston Food Co., Ltd.,

as Borrower

 

And

 

HSBC Bank (China) Company Limited,

Citibank (China) Co., Ltd., Shanghai Branch

Coöperatieve
Rabobank U.A., Shanghai Branch

as Mandated Lead Arrangers

 

HSBC Bank (China) Company
Limited

as Coordinator

 

HSBC Bank (China) Company
Limited, Shanghai Branch

as Facility Agent

 

The banks and financial institutions listed
in Schedule 1

as Original Lenders

 

JunHe LLP

26/F HKRI Centre One, HKRI Taikoo Hui

Shanghai

 

    

     

    

 

CONTENTS

 

	1.	     Definitions and Interpretation	 	     1
	2.	     The Facility	 	     10
	3.	     Loan Purpose	 	     11
	4.	     Conditions Precedent of Utilisation	 	     12
	5.	     Utilisation	 	     13
	6.	     REPAYMENT	 	     15
	7.	     PREPAYMENT AND CANCELLATION	 	     17
	8.	     Interest	 	     21
	9.	     Default Interest	 	     22
	10.	     Changes to the Calculation of Interest	 	     23
	11.	     Fees	 	     24
	12.	     Tax Gross-up and Indemnities	 	     25
	13.	     Increased Costs	 	     28
	14.	     Other indemnities	 	     29
	15.	     Mitigation by the Lenders	 	     31
	16.	     Costs and Expenses	 	     31
	17.	     Representations	 	     32
	18.	     Information Undertakings	 	     37
	19.	     Financial Covenants	 	     40
	20.	     General Undertakings	 	     40
	21.	     EVENT OF DAULT	 	     52
	22.	     Changes to the Lenders	 	     55
	23.	     Changes to the Obligors	 	     60
	24.	     Role of the Facility Agent and Mandated Lead Arranger	 	     61
	25.	     Conduct of Business by the Finance Parties	 	     69
	26.	     Sharing Among the Finance Parties	 	     69
	27.	     Payment Mechanics	 	     70
	28.	     SET-OFF	 	     73
	29.	     Notices	 	     74
	30.	     Calculations and Certificates	 	     76
	31.	     PARTIAL INVALIDITY	 	     76
	32.	     REMEDIES AND WAIVERS	 	     76
	33.	     AMENDMENTS AND WAIVERS	 	     76
	34.	     COUNTERPARTS	 	     77
	35.	     GOVERNING LAW AND JURISDICTION	 	     77

	SCHEDULE 1	     79
	THE ORIGINAL LENDER AND COMMITMENTS	     79
	SCHEDULE 2	     81
	CONDITIONS PRECEDENT	     81
	SCHEDULE 3	     84
	Form of Utilisation Request	     84
	SCHEDULE 4	     85
	Form of Transfer Certificate	     85
	SCHEDULE 5	     87
	FORM OF COMPLIANCE CERTIFICATE	     87
	SCHEDULE 6	     88
	FORM OF ACCESSION LETTER	     88

 

    
			FACILITY AGREEMENT

     

    

 

THIS AGREEMENT ("Agreement") is made between:

 

		(1)	Ulanqab Lamb Weston Food Co., Ltd., a limited liability company duly incorporated and validly
existing under the laws of the PRC, with its registered address at Room 511, Green Food Industry Services Department, Management Committee
of Chahar Industrial Park, Ulanqab, Inner Mongolia Autonomous Region (the intersection of Zanghong Road South and Yucai North Street),
as borrower (the "Borrower");

 

		(2)	HSBC Bank (China) Company Limited, Citibank (China) Co., Ltd., Shanghai Branch, and Coöperatieve
Rabobank U.A., Shanghai Branch as mandated lead arrangers (the "Mandated Lead Arrangers");

 

		(3)	HSBC Bank (China) Company Limited as coordinator (the "Coordinator");

 

		(4)	The banks and financial institutions listed in Schedule 1 as original lenders (the "Original Lenders");
and

 

		(5)	HSBC Bank (China) Company Limited, Shanghai Branch, as agent of the Finance Parties (as defined
below) (the "Facility Agent").

 

IT IS AGREED as follows:

 

Article 1

 

Definitions and Interpretation

 

		1.	Definitions and Interpretation

 

		1.1	Definitions

 

For the purposes of this Agreement:

 

"Guarantor"
means Lamb Weston Holdings, Inc., a company incorporated and validly existing under the laws of the State of Delaware, US, which
has been listed on the New York Stock Exchange (LW-NYSE).

 

"Guarantee" means the
guarantee dated on or about the execution date of this Agreement between the Guarantor and the Facility Agent, which is governed by New
York law.

 

"Guarantor’s
Existing Credit Agreement" means the credit agreement dated as of November 9, 2016, entered into by and among the Guarantor,
certain of the Guarantor’s US Subsidiaries, Bank of America N.A., as administrative agent and other finance parties thereto,
as amended, restated, amended and restated, or otherwise replaced or modified from time to time, which is governed by New York law.

 

"Financial Indebtedness"
means any indebtedness for or in respect of:

 

		(a)	moneys borrowed;

 

		(b)	any amount raised by acceptance under any acceptance credit facility or equivalent dematerialised arrangement;

 

		(c)	any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan
stock or similar instrument;

 

    
		1	FACILITY AGREEMENT

     

    

 

		(d)	any liability in respect of any lease or hire purchase contract which would, in accordance with GAAP,
be treated as a finance or capital lease;

 

		(e)	receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse
basis);

 

		(f)	any amount raised under any other transaction (including any forward sale or purchase agreement) having
the commercial effect of a borrowing;

 

		(g)	any derivative transaction entered into in connection with protection against or benefit from fluctuation
in any rate or price (and, when calculating the value of any derivative transaction, only the marked to market portion of it shall be
taken into account);

 

		(h)	any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter
of credit or any other instrument issued by a bank or financial institution; and

 

		(i)	any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs
(a) to (h) above.

 

"Accession
Letter" means a document substantially in the form set out in Schedule 6 (Form of Accession Letter) or in any other
form reasonably agreed between the Facility Agent (acting on the instructions of the Majority Lenders) and the Borrower.

 

"Commitments" means:

 

		(a)	in relation to an Original Lender, the amount in RMB set opposite its name under the heading "Facility
Commitment" in Schedule 1 (The Original Lenders and Commitments) and the amount of any other Facility Commitment transferred
to it under this Agreement; and

 

		(b)	in relation to any other Lender, the amount in RMB of any Facility Commitment transferred to it under
this Agreement,

 

to the extent not cancelled, reduced
or transferred by it under this Agreement.

 

"Repeating
Representations" means each of the representations and warranties set out in Clauses 17.1 to 17.6, Clauses 17.9 to 17.13, 17.14
(c), 17.15 to 17.28.

 

"LPR" means the loan
prime rate published (if below zero, which shall be deemed as zero) by the PRC National Interbank Funding Center on (in respect of the
first Interest Period) the relevant Utilisation Date or (if there is no such rate published on such date) such rate most recently published
before such date, and (in respect of each subsequent Interest Period) the first day of such Interest Period or (if there is no such rate
published on such date) such rate most recently published before such date.

 

"Loan" means a loan
made or to be made under the Facility or the principal amount outstanding for the time being of that loan.

 

"Lender" means:

 

		(a)	any Original Lender;

 

		(b)	any Increase Lender that accedes to it in accordance with Clause 2.2 (Increase in Total Commitments)
of this Agreement; and

 

    
		2	FACILITY AGREEMENT

     

    

 

		(c)	any bank or financial institution which has become a Party in accordance with Clause 22 (Changes to
the Lenders) of this Agreement;

 

which in each case has not ceased to
be a Party in accordance with the terms of this Agreement.

 

"Loan Disbursement Account"
means the bank account opened and maintained by the Borrower with the Facility Agent prior to the first Utilisation Date under this Agreement
for the purpose of the Loan to be advanced hereunder.

 

"Security" means a
guarantee, mortgage, pledge, lien or other security interest securing any obligations of any person or any other agreement or arrangement
having a similar effect.

 

"Secured Liabilities"
means all obligations and liabilities (whether actual or contingent) from time to time of the Borrower to any Finance Party under each
Finance Document, including without limitation, any principal of each Loan, interest, penalty interest, damages, commissions, taxes, charges,
disbursements and other fees incurred by each Finance Party in enforcing its rights under each Finance Document to which it is a party
(including without limitation, legal fees, litigation costs, auction expenses and travel expenses reasonably incurred by each Finance
Party for appointing lawyers to enforce its rights under the Finance Documents to which it is a party, service fees for the agents, legal
counsel and other professional advisors of each Finance Party, but excluding any expenses which shall not be borne by the Borrower expressly
provided or by laws, regulations or competent authorities).

 

"Majority Lenders"
means:

 

		(a)	if there is no Loan then
outstanding, two or more Lenders whose Commitments aggregate 50 percent or more of the Total Commitments (or, if the Total Commitments
have been reduced to zero, whose Commitments aggregated to 50 percent or more of the Total Commitments immediately prior to that reduction);

 

		(b)	at any other time, two
or more Lenders whose participations in the outstanding Loans then aggregate 50 percent or more of the aggregate of all outstanding Loans
of all the Lenders.

 

"FATCA"
means:

 

		(a)	sections 1471 to 1474 of the Code, or any associated regulations and other official guideline;

 

		(b)	any treaty, law, regulation or other official guideline of any other jurisdiction, or relating to an intergovernmental
agreement between the US and any other jurisdiction, which (in either case) facilitates the implementation of any law or regulation referred
to in paragraph (a) above; or

 

		(c)	any agreement pursuant to the implementation of any treaty, law or regulation referred to in paragraph
(a) or (b) above with the US Internal Revenue Service, the US government or any governmental or taxation authority in any other
jurisdiction.

 

"FATCA Exempt Party"
means a Party that is entitled to receive payments free of any FATCA Deductions.

 

"FATCA Deduction" means
a deduction or withholding from a payment under a Finance Document required by FATCA.

 

"FATCA Implementation Date"
means

 

		(a)	For the purpose of "withholdable
payments" described in Section 1473 (1) (A) (i) of the

 

    
		3	FACILITY AGREEMENT

     

    

 

	 	 	 Code (which relate to payments of interest and other specified
payments from sources within the United States), July 1, 2014;

 

		(b)	For the purpose of "withholdable
payments" described in Section 1473 (1) (A) (ii) of the Code (which relate to "gross proceeds" arising
from the disposition of certain property which can produce interest or dividends from sources within United States), the first date from
which such payment may become subject to a deduction or withholding required by FATCA;

 

		(c)	For the purpose of "passthru
payments" described in Section 1471 (d) (7) of the Code which are not in the foregoing paragraph (a) or (b),
the first date from which such payment may become subject to a deduction or withholding required by FATCA;

 

alternatively, in each case, such other
date on which such payments commence to be subject to deductions or withholdings required by FATCA as a result of a change in FATCA after
the date hereof.

 

"FATCA Foreign Financial Institution"
means a foreign financial institution as defined in Section 1471 (d) (4) of the Code, where any Finance Party is not a
FATCA Exempt Party it may be required to make FATCA Deductions.

 

"Code" means the United
States Internal Revenue Code of 1986, as amended.

 

"Fee
Letter" means that certain Fee Letter, dated on or about the date of this Agreement,
entered into between the relevant Finance Party and the Borrower relating to the relevant fee under this Agreement.

 

"Compliance
Certificate" means a certificate issued pursuant to Clause 18.2 (Compliance Certificate) of this Agreement and signed
by a director or an authorised signatory of the Borrower, substantially in the form set out in Schedule 5 (Form of Compliance
Certificate).

 

"Interest Payment Date"
means the last day of each Interest Period, each Repayment Date, each prepayment date and Final Repayment Date.

 

"GAAP" means generally
accepted accounting system or principles (in respect of the Borrower) in the PRC and (in respect of the Guarantor) in U.S.

 

"Affiliate" means,
in relation to any person, a Subsidiary or a Holding Company of that person or any other Subsidiary of that Holding Company.

 

"Disruption Event"
means any or all of the following events:

 

		(a)	a material disruption to those payment or communications systems or to those financial markets which are,
in each case, required to operate in order for payments to be made in connection with the Facility (or otherwise for the transactions
contemplated by the Finance Documents to be carried out) which disruption is not caused by, and is beyond the control of, any Party; and

 

		(b)	the occurrence of any other event which results in a disruption (of a technical or systems-related nature)
to the treasury or payments operations of a Party preventing that or any other Party:

 

		(i)	from performing its payment obligations under the Finance Documents; or

 

		(ii)	from communicating with other Parties in accordance with the terms of the Finance Documents,

 

    
		4	FACILITY AGREEMENT

     

    

 

and which (in either such case) is not
caused by, and is beyond the control of, the Party whose operations are disrupted.

 

"Environment and Social Risk
Management Laws" means all applicable laws and regulations:

 

		(a)	for the purpose of environmental protection and/or to prevent damage or destruction of the environment
or any other action having the similar effect;

 

		(b)	affording remedies or compensation for damage or destruction of the environment;

 

		(c)	relating to hazardous materials or health and safety things/matters; or

 

		(d)	relating to social risk management matters
(which mean matters that give rise to social conflict, endanger social stability or affect social order).

 

"Environment and Social Risk
Management Claim" means any investigation, litigation or other legal proceeding initiated or carried out by any third party (including
any governmental authority) in accordance with applicable Environment and Social Risk Management Laws.

 

"Environment
and Social Risk Management Permits" means any approval, authorization, permit or license required by or given by any governmental
authority under any Environment and Social Risk Management Laws.

 

"Repayment Date" means
each loan repayment date set out in Clause 6.1 (Repayment Dates and Amount) of this Agreement.

 

"Group"
means the Borrower and any person which is and will from time to time be a Subsidiary of the Borrower.

 

"Facility Office" means
the office or offices notified by a Lender to the Facility Agent in writing on or before the date it becomes a Lender (or, following that
date, by not less than five Business Days' written notice) as the office or offices through which it will perform its obligations under
this Agreement.

 

"Available Commitment"
means, in relation to each Lender, that Lender's Commitment minus:

 

		(a)	the amount of its participation in any outstanding Loan; and

 

		(b)	in relation to any proposed Loan to be utilised in any Utilisation Request delivered, the amount of its
participation in that Loan which are due to be made under such Utilisation Request but which has not yet been utilised.

 

"Available Facility"
means the aggregate of each Lender’s Available Commitment in respect of the Facility under this Agreement.

 

"Holding Company" means,
in relation to a person, any other person in respect of which it is a Subsidiary.

 

"Interest Period" has
the meaning given to that term in Clause 8.2 (Interest Period).

 

"Margin"
means the rate of 0.3 percent per annum.

 

"Interest
Rate Determination Date" means in relation to any proposed Loan, the Utilisation

 

    
		5	FACILITY AGREEMENT

     

    

 

Date for that Loan and, in relation to any Loan
to be utilised but outstanding, each Interest Payment Date (other than each Repayment Date, a prepayment date and the Final Repayment
Date), being re-determined on each Interest Payment Date (other than each Repayment Date, a prepayment date and the Final Repayment Date).

 

"Prepayment
Compensation" means if the Loan is repaid in full or in part prior to its maturity date in accordance with this Agreement, to
the extent permitted by laws and regulations and to the extent stipulated herein, the Borrower shall pay to the Lender the compensation
for the loss suffered by the Lender as a result of prepayment, which is the balance (if any) of:

 

		(a)	the interest that the Lender should have received on the principal amount or an Unpaid Sum obtained by
it in accordance with this Agreement for the period from the date it receives all or any part of the principal amount or Unpaid Sum of
the Loan to the latest Interest Payment Date if such principal amount or Unpaid Sum is not paid on an Interest Payment Date;

 

exceeds:

 

		(b)	the earnings which that Lender would have obtained during that period by placing an amount equal to the
principal amount or Unpaid Sum of the Loan on deposit with a major bank in the PRC interbank market.

 

"United States" or
 "US" means the United States of America.

 

"US Tax Obligor" means:

 

		(a)	any Obligor, assuming it is
a resident for tax purposes in the US; or

 

		(b)	an Obligor some or all of whose payments under the Finance Documents are from sources within the US for
US federal income tax purposes.

 

"Potential Event of Default"
means any event or circumstance which would, at the expiry of a grace period, by giving of notice or making of any determination under
any Finance Document or taking all of above actions, constitute an Event of Default.

 

"Finance
Party" means the Mandated Lead Arrangers, the Coordinators, the Facility Agent and the Lenders; and any "Finance Party"
means any one of them.

 

"Finance Document"
means this Agreement, the Guarantee Agreement, any Accession Letter, any Fee Letter and any other document designated as a "Finance
Document" by the Facility Agent and the Borrower.

 

"Facility" means the
term loan facility made available pursuant to this Agreement as described in Clause 2.1 (The Facility) of this Agreement.

 

"Authorisation" means:

 

		(a)	an authorisation, consent, approval, resolution, licence, exemption, filing, notarisation, lodgement or
registration; or

 

		(b)	in relation to anything which will be fully or partly prohibited or restricted by law if a governmental
agency intervenes or acts in any way within a specified period after lodgement, filing, registration or notification, the expiry of that
period without intervention or action.

 

    
		6	FACILITY AGREEMENT

     

    

 

"Tax" means any tax,
levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any
failure to pay or any delay in paying any of the same).

 

"Availability Period"
means:

 

		(a)	the period commencing from and including the execution date of this Agreement to and including the date
falling twenty four (24) Months after the execution date of this Agreement ("First Availability Period"); or

 

		(b)	provided that the aggregate
amount of the Loans utilised by the Borrower during First Availability Period is no less than 50 percent of the Total Commitments, the
period commencing from and including the execution date of this Agreement to and including the date falling thirty-six (36) Months after
the execution date of this Agreement,

 

for the avoidance of doubt, any amount
of the Facility undrawn at the end of the Availability Period shall be automatically cancelled.

 

"Utilisation Date"
means the date on which the relevant Loan is to be made.

 

"Utilisation Request"
means a notice substantially in the form set out in Schedule 3 (Utilisation Request) for the purpose of a utilisation of the Facility.

 

"WBND"
means the "外保内贷" as defined
in the Regulations on Foreign Exchange Administration for Cross-border Guarantee (Hui Fa [2014] No.29), i.e. the cross-border guarantee
where the guarantor is registered outside the PRC and the debtor and creditor are registered inside the PRC.

 

"Unpaid Sum" means
any sum due and payable but unpaid by an Obligor under the Finance Documents.

 

"Default" means any
Event of Default or Potential Event of Default.

 

"Event of Default"
means an event or circumstance specified as such in Clause 21 (Events of Default).

 

"Party" means a party
to this Agreement.

 

"Increase Lender" means
any bank and financial institution selected by the Mandated Lead Arrangers and the Facility Agent to accede to this Agreement pursuant
to Clause 2.2 (Increase in Total Commitments).

 

"Project"
means the project comprising of fixed assets and production lines with an expected annual
production capacity of 108,000 tons of French fries and 10,800 tons of hash brown located at the east side of Basheng Road, south side
of Chahar Industrial Park, Ulanqab.

 

"Project
Land" means the land located at the east side of Basheng Road, south side of Chahar Industrial Park. The Real Estate Ownership
Certificate No.: 蒙(2021)集宁区不动产权第00470202号.

 

“Total Project Investment”
means the total investment amount indicated in the NDRC Filing, i.e. RMB 1,625,000,000. For the avoidance of doubt, such amount should
be updated from time to time along with the most current NDRC Filing during the term of this Agreement.

 

“NDRC Filing” means
the filing of the Project with the Chahar Industrial Park Economic

 

    
		7	FACILITY AGREEMENT

     

    

 

Development Bureau dated May 31 2021, which should be updated,
supplemented or replaced and kept as current from time to time by the Borrower if necessary.

 

“Non-disposal Assets”
shall have the meaning as set forth in Section 7.4(a).

 

"Repayment Reserve Account"
means the account opened and maintained in the Facility Agent by the Borrower for the purpose of collecting all income incurred from or
related to the Project, including without limitation the revenue incurred by claim under the construction contract, management contract
or other relevant contracts and all income received or receivable once the Project is put into the normal production.

 

"Business Day" means
a day on which banks in China are generally open for business in Shanghai (and such day shall also be deemed as a business day in Hong
Kong Special Administrative Region, excluding a Saturday, Sunday or statutory holiday in China and/or Hong Kong Special Administrative
Region).

 

"Original
Financial Statements" means (in respect of the Borrower) the latest unaudited consolidated
financial statements of the Borrower; and (in respect of the Guarantor) the audited consolidated financial
statements of the Guarantor for its financial year ended 30 May 2021.

 

"Obligors"
means the Borrower or any other person that becomes a Party to this Agreement as a borrower
or guarantor (other than the Guarantor defined hereunder); and any "Obligor" means any of them.

 

"PRC"
means the People's Republic of China, which, for the purposes of this Agreement, shall exclude the Hong Kong Special Administrative Region,
the Macau Special Administrative Region and Taiwan.

 

"Material Adverse Effect"
means a material adverse effect (whether such effect is caused by the circumstances individually or in any other circumstances whatsoever
of the Obligors and/or members of the Group) on:

 

		(a)	the business, operations, property, condition (financial or otherwise), prospects or liabilities (actual
or contingent) of the Group taken as a whole;

 

		(b)	the ability of any Obligor to perform its obligations under the Finance Documents;

 

		(c)	the validity or enforceability of, or the rights or remedies of any Finance Party under, any Finance Document.

 

"Transfer Date" means,
in relation to a transfer, the later of:

 

		(a)	the proposed Transfer Date specified in that Transfer Certificate; and

 

		(b)	the date on which the Facility Agent executes that Transfer Certificate.

 

"Transfer Certificate"
means a certificate substantially in the form set out in Schedule 4 (Form of Transfer Certificate).

 

"Subsidiary" means
in relation to any company or corporation,

 

		(a)	any other company or corporation which is controlled, directly or indirectly, by that company or corporation;

 

    
		8	FACILITY AGREEMENT

     

    

 

		(b)	any other company or corporation more than half the issued share capital of which is beneficially owned,
directly or indirectly, by that company or corporation; or

 

		(c)	which is a Subsidiary of another Subsidiary of that company or body corporate;

 

and for this purpose, a company or corporation
shall be treated as being controlled by another if that other company or corporation is able to (either directly or indirectly and whether
by share capital, voting power, contract or otherwise) direct its affairs and/or to control the composition of the majority of its board
of directors or equivalent body.

 

"Subrogation
Foreign Debt" means the foreign debt owing by any Obligor to any offshore guarantor or offshore security provider arisen from
the performance or enforcement of any offshore guarantee and/or offshore security provided under a transaction under which the Borrower's
debt owing to a PRC financial institution is guaranteed, secured or otherwise supported by an offshore person.

 

"Total
Commitments" means the aggregate of the Commitments, being RMB 1,079,000,000 at the
date of this Agreement. Provided that if there is an accession of an Increase Lender in accordance with Clause 2.2 (Increase in Total
Commitments) of this Agreement, the Total Commitments will be increased accordingly.

 

"Final Repayment Date"
means the Initial Final Repayment Date or the Extended Final Repayment Date.

 

"Initial Final Repayment Date"
means the date falling sixty (60) Months from the first Utilisation Date under the Facility or, if such date is not a Business Day, the
Business Day immediately preceding such date.

 

"Extended Final Repayment Date"
means the date falling ninety (90) Months from the first Utilisation Date under the Facility or, if such date is not a Business Day, the
Business Day immediately preceding such date.

 

		1.2	Construction

 

		(a)	Unless a contrary indication
appears, any reference in this Agreement to:

 

		(i)	the “Facility Agent”, any “Mandated Lead Arranger”, any “Obligor”,
the “Coordinator”, any “Finance Party”, any “Lender” or any “Party”
shall be construed so as to include its successors in title, permitted assigns and permitted transferees;

 

		(ii)	“assets” includes present and future properties, revenues and rights of every description;

 

		(iii)	a “Finance Document” or any other agreement or instrument is a reference to that Finance
Document or other agreement or instrument as amended, novated, supplemented, extended or restated;

 

		(iv)	“indebtedness” includes any obligation (whether incurred as principal or as surety)
for the payment or repayment of money, whether present or future, actual or contingent;

 

		(v)	a “person” includes any individual, firm, company, corporation, government, state or
agency of a state or any association, trust, joint venture, consortium, partnership 

 

    
		9	FACILITY AGREEMENT

     

    

 

	 	 	or other entity (whether or not having separate legal
personality);

 

		(vi)	a “regulation” includes any regulation, rule, official directive, request or guideline
(whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department or regulatory,
self-regulatory or other authority or organisation;

 

		(vii)	except as otherwise specified in this Agreement, a "month" means a period starting on
any day in any calendar month and ending on the numerically corresponding day in the next calendar month, except that:

 

		(A)	subject to sub-paragraph (C) below, if the numerically corresponding day in that period would otherwise
end on the next Business Day in the calendar month in which that period would otherwise end, if there would otherwise be a Business Day
in the calendar month in which that period would otherwise end on the next Business Day in which there would otherwise be no Business
Day, that period would end on the immediately preceding Business Day;

 

		(B)	if there is no numerically corresponding day in the calendar month in which that period would otherwise
end, that period would otherwise end on the last Business Day in that calendar month; and

 

		(C)	the above rules will only apply to the last Month of any period.

 

		(viii)	a provision is a reference to that provision as amended or re-enacted from time to time; and

 

		(ix)	a time of day is a reference to Beijing time.

 

		(b)	Section, Clause and Schedule headings are for convenience only;

 

		(c)	Unless a contrary indication appears, a term used in any other Finance Document or in any notice given
under or in connection with any Finance Document has the same meaning in that Finance Document or notice as in this Agreement.

 

		(d)	A Default is "continuing"
if it has not been remedied or waived.

 

		1.3	Currency symbols and definitions

 

"RMB" denote the lawful currency
of the People's Republic of China.

 

Article 2

 

The Facility

 

		2.	The Facility

 

		2.1	The Facility

 

Subject to the terms of this Agreement,
each Lender agrees to make available to the Borrower a term loan facility in an aggregate amount equal to the Total Commitments.

 

    
		10	FACILITY AGREEMENT

     

    

 

		2.2	Increase in Total Commitments

 

		(a)	Within the period between the date of this Agreement but prior to the date falling five (5) Months
after the date of this Agreement (or other date otherwise agreed by the Facility Agent), provided that the Borrower gives a written notice
to the Facility Agent, Increase Lender may accede to this Agreement by executing an Accession Letter which may increase the Total
Commitments under this Agreement.

 

		(b)	Each Finance Party and the Obligors hereby irrevocably agree on such increase in Total Commitment and
confirm that no further written consent is required to be given by each Finance Party and the Obligors. The Facility Agent shall promptly
notify the Finance Parties and the Obligors of the accession of each Increase Lender.

 

		(c)	An Increase Lender's participation will only be effective when an Accession Letter is duly executed by
an Obligor, that Increase Lender and the Facility Agent. For this purpose, each Lender irrevocably authorises the Facility Agent to execute
each Accession Letter on its behalf.

 

		(d)	Notwithstanding Clause 5.4 (Lenders'
participation) of this Agreement, in each utilisation after each Accession Letter becomes effective, the Borrower shall first utilise
such increased amount in the Total Commitments provided by the Increase Lender(s) while each Increase Lender will make available
per its proportion under the increased amount, until after several Utilisation, the Loans borne by the Increase Lender(s) to the
amount of Loans borne by all Lenders bears the same proportion of the increased amount in Total Commitments to the Total Commitments
at that time, then each utilisation by the Borrower thereafter shall continue to be made in accordance with Clause 5.4 (Lenders' participation)
of this Agreement.

 

		(e)	Such Loan newly utilised shall
be applied and paid in accordance with the other provisions of this Agreement (including without limitation, Clauses 3.1 (Loan
Purpose) and 5.5 (Loan Disbursement and Payment).

 

		2.3	Finance Parties’ rights and obligations

 

		(a)	The obligations of each Finance
Party under the Finance Documents are several. Failure by a Finance Party to perform its obligations under the Finance Documents
does not affect the obligations of any other Party under the Finance Documents. No Finance Party is responsible for the obligations of
any other Finance Party under the Finance Documents.

 

		(b)	The rights of each Finance Party under or in connection with the Finance Documents are separate and independent
rights. Any debt arising under the Finance Documents to a Finance Party from an Obligor shall be separate and independent debts.

 

		(c)	A Finance Party may, except
as specifically provided in the Finance Documents, separately enforce its rights under or in connection with the Finance Documents.

 

		3.	Loan Purpose

 

		3.1	Loan Purpose

 

		(a)	The Borrower shall apply all amounts borrowed by it under the Facility towards fixed assets investment
related purposes, which are subject to the Borrower’s business scope and the applicable PRC laws and regulations, including but
not limited to procurement of plant, property and equipment, and other reasonable fixed asset investments.

 

    
		11	FACILITY AGREEMENT

     

    

 

		(b)	The Borrower shall not use any
of the Loan for any other purpose, including without limitation, to directly or indirectly make equity investment, speculation in any
securities market, futures market, bond markets or other similar fields, investment in structured deposit, financial derivatives,
private lending markets, wealth management or distributed products through financial institutions, or to extend and/or repay entrustment
loans (unless it is not prohibited by the applicable laws or regulations), or use any of the Loan for any other investment or business
prohibited by the governmental authorities.

 

		3.2	Monitoring

 

		(a)	Subject to applicable laws and
regulations, each Lender shall, at any time, have the right (but in any event under no contractual
obligation) to regulate or verify the application of any amount borrowed pursuant to this Agreement. Each
Lender shall have the right to reasonably request the Borrower to provide, subject to the confidentiality provisions set forth
herein, any documents and information relating to the application of the Loan in order for that Lender
to monitor or verify the application of any amount borrowed pursuant to this Agreement. The Borrower shall take reasonable efforts to
cooperate.

 

		(b)	In any case, any failure to
do so by any Lender will not give rise to any defence which the Borrower or any other Obligor
may have against the Borrower's or any other Obligor's repayment and performance of the Secured Liabilities or otherwise mitigate, release
or prejudice the obligations of the Borrower or any other Obligor under the Finance Documents.

 

		4.	Conditions Precedent of Utilisation

 

		4.1	Conditions Precedent of First Utilisation

 

		(a)	The Borrower may not deliver
a Utilisation Request for the initial Utilisation under this Agreement unless the Facility Agent has received (or waived) all of
the documents and evidence listed in and appearing (without making any substantial check) to (acting on the instructions of all Lenders)
comply with the requirements of Schedule 2 (Conditions Precedent). The Facility Agent shall notify the Borrower and each Lender
promptly upon receiving such documents and evidence.

 

		(b)	Each Lender authorises
(but does not require) the Facility Agent to give that notification. The Facility Agent shall not be liable for any damages, costs or
losses whatsoever as a result of giving any such notification.

 

		4.2	Conditions Precedent of Each Utilisation

 

No Lender is obliged to make a Loan
available pursuant to Clause 5.4 (Lenders' participation) unless, on the date of the Utilisation Request and on the proposed Utilisation
Date:

 

		(a)	no Potential Event of Default or Event of Default is continuing;

 

		(b)	the utilisation shall not violate the regulatory requirements under the applicable laws and regulations,
and any other supporting document (if any) relating to the utilisation as required by the laws and regulations of the PRC have been provided;

 

		(c)	any Repeating Representation made by any Obligor in accordance with the Finance Documents is true and
accurate;

 

		(d)	in respect of any proposed Loan, evidence that the ratio of the Borrower's injected capital 

 

    
		12	FACILITY AGREEMENT

     

    

 

	 	 	to Project
capital is not less than the ratio of the outstanding amount of all Loans to the Total Commitment after such utilisation;

 

		(e)	in respect of any proposed Loan, evidence that the ratio of the Borrower's used self-owned funds to Project
capital is not less than the ratio of the outstanding amount of all Loans to the Total Commitment after such utilisation;

 

		(f)	contracts, invoices or other
supporting documents reasonably satisfactory to the Facility Agent (on the instruction of all Lenders) evidencing the expenditures
in connection with the Project and the content of such contracts, invoices and supporting documents shall match the project progress report
issued by the project cost consultant;

 

		(g)	evidence reasonably satisfactory
to the Facility Agent (on the instruction of all Lenders) that the construction schedule of the Project matches the investment amount
of the Project; and

 

		(h)	no Material Adverse Effect has occurred and is continuing.

 

Article 3

 

Utilisation

 

		5.	Utilisation

 

		5.1	Delivery of a Utilisation Request

 

The Borrower may utilise the Facility
on delivery to the Facility Agent of a duly completed Utilisation Request during the Availability Period, and the Borrower shall ensure
that the first Utilisation Date will not be later than the date (including such date) falling six (6) Months after the date of this
Agreement.

 

		5.2	Completion of a Utilisation Request

 

		(a)	Each Utilisation Request is irrevocable once delivered. The Borrower is obliged to utilise the proposed
Loan pursuant to the terms and conditions of this Agreement and pursuant to the dates, amounts and currency specified in the Utilisation
Request upon delivery of such Utilisation Request.

 

		(b)	Each Utilisation Request shall not be regarded as having been duly completed unless each of the following
requirements is satisfied:

 

		(i)	each Utilisation Request is delivered at least five (5) Business Days prior to the proposed Utilisation
Date (or other date otherwise agreed by the Facility Agent);

 

		(ii)	the proposed Utilisation Date is a Business Day within the Availability Period;

 

		(iii)	purpose of the Loan is specified;

 

		(iv)	the currency and amount of the utilisation comply with Clause 5.3 (Currency and amount).

 

		(c)	Only one proposed Loan may be requested in each Utilisation Request. During the Availability Period, the
Borrower may utilise the Loan by delivering separate Utilisation Requests but at any time no more than twenty-four (24) times.

 

		(d)	The Borrower shall submit to the Facility Agent, at the same time as it submits the

 

    
		13	FACILITY AGREEMENT

     

    

 

	 	 	 Utilisation Request,
the complete details of the loan purpose of the proposed utilisation (including payee, account number for collection, amount and currency
of payment, purpose of payment, contract and order numbers and invoices (if any), as well as any other supporting documents reasonably
required by the Lender) and the payment instruction for entrusted payment of relevant Loans. The Facility Agent shall provide each Lender
with a copy of such detailed documents on receipt of them, while each Lender shall independently review documents and confirm to the Facility
Agent in a specified period requested by the Facility Agent.

 

		5.3	Currency and amount

 

		(a)	The currency for the proposed Loan specified in the Utilisation Request must be RMB.

 

		(b)	The amount of the proposed utilisation in the Utilisation Request must be an amount with a minimum of
RMB 5,000,000 and an integral multiple of RMB 1,000,000 or such other amount as the Facility Agent (acting on the instructions of the
Majority Lenders) may agree.

 

		5.4	Lenders' participation

 

		(a)	The Facility Agent shall notify each Lender of its participation in each Loan no later than two (2) Business
Days prior to the Utilisation Date; the amount of each Lender's participation in each such Utilisation shall be equal to the proportion
borne by its Available Commitment to the Available Facility.

 

		(b)	If the conditions set out in
Clause 4 (Conditions Precedent of Utilisation) of this Agreement have been satisfied and the Borrower has properly delivered a
Utilisation Request in accordance with Clause 5.1, 5.2 and 5.3, each Lender shall, no later than 11: 00 a.m. of the Utilisation
Date, make its participation in each Loan paid into the account designated by the Facility Agent in accordance with the provisions hereof
and the amount requested in the notice given to it by the Facility Agent, and the Facility Agent then will promptly remit all amount to
the Loan Disbursement Account of the Borrower.

 

		5.5	Loan Disbursement and Payment

 

		(a)	Any payment of a Loan under
any Facility of this Agreement shall be made by way of "entrusted payment by the Lenders". After the funds of relevant Loans
are remitted into the Loan Disbursement Account in accordance with paragraph (b) of Clause 5.4 (Lenders' participation) above,
the Facility Agent shall promptly remit such Loans funds directly to the relevant payee in accordance with the payment instructions
given by the Borrower and the details under paragraph (d) of Clause 5.2 (Completion of a Utilisation Request) within the time
permitted by laws and regulations or the Facility Agent's internal operating guidelines. The Facility Agent is entitled to refuse to make
the advance or payment if the payee or payment account number under the payment instructions given by the Borrower does not match the
detailed documents provided;

 

		(b)	In respect of any payment directly to the relevant payee by the Facility Agent pursuant to paragraph (a) above,
if it is returned to the Loan Disbursement Account of the Borrower due to the incomplete or incorrect payment elements filled in by the
Borrower or any reason not attributable to the Lenders, the Facility Agent is entitled to suspend credit to the Loan Disbursement Account
for such returned amount or freeze such returned amount credited to the Loan Disbursement Account until the Borrower re-submits the correct
and complete payment instructions.

 

		(c)	The
Borrower hereby undertakes and warrants to the Facility Agent that: (i) the Facility

 

    
		14	FACILITY AGREEMENT

     

    

 

	 	 	Agent shall not assume any responsibility for the authenticity, accuracy,
appropriateness or validity of any document provided by the Borrower even if the Facility Agent conducted the examination of such documents
and has made the entrusted payment accordingly; (ii) the Borrower shall not instruct the Facility Agent to pay the Loan proceeds
to other bank account(s) opened by the Borrower; and (iii) the Borrower shall not evade any regulation of the Lenders
in relating to the minimum utilisation limit under the entrusted payment by way of breaking down the whole amount into parts.

 

		(d)	Upon the occurrence of any Event of Default, the Facility Agent is entitled to suspend any payment of
any Loan and cease any utilisation of any amount in the Loan Disbursement Account without prejudice to any other consequence of any Event
of Default.

 

Article 4

 

REPAYMENT, PREPAYMENT AND CANCELLATION

 

		6.	REPAYMENT

 

		6.1	Repayment Date and Amount

 

The Borrower shall repay the Loans utilised
but outstanding in instalments by repaying on each date specified in the table below (each such date, a "Repayment Date")
an amount equal to the percentage of the aggregate principal amount of the Facility on the last day of the Availability Period.

 

	 	Repayment Date	Repayment Amount
	 	On the date falling (i) thirty-six (36) Months from the first Utilisation Date (“Date A”) and/or six (6) months from the first operating date (which shall be decided by the Majority Lenders and immediately notified to the Facility Agent and the Borrower) when the cash flow will be generated from the Project after all the construction of the Project has been completed (“Date B”) 	
    (i)       If
    Date B is earlier than Date A, the repayment amount for the first instalment on Date B shall be 0.25% of all Loan amount utilized
    but outstanding by the Borrower on Date B (“First Repayment Amount”),
    then the Borrower shall repay on Date A the balance amount which equals 1.75% of all Loan amount utilised but outstanding by the Borrower
    on the last day of the Availability Period minus First Repayment Amount;

     

    (ii)      If
    Date A is earlier than Date B, the repayment amount for the first instalment on Date A shall be 1.75% of all Loan amount utilized
    but outstanding by the Borrower on the last day of the Availability Period, and the Borrower is not required to repay any amount on Date
    B.

 

    
		15	FACILITY AGREEMENT

     

    

 

	 	On the date falling thirty-nine (39) Months from the first Utilisation Date	1.75% of all Loans amount utilised but outstanding by the Borrower on the last day of the Availability Period
	 	On the date falling forty-two (42) Months from the first Utilisation Date	2.0% of all Loans amount utilised but outstanding by the Borrower on the last day of the Availability Period
	 	On the date falling forty-five (45) Months from the first Utilisation Date	2.0% of all Loans amount utilised but outstanding by the Borrower on the last day of the Availability Period
	 	On the date falling forty-eight (48) Months from the first Utilisation Date	2.25% of all Loans amount utilised but outstanding by the Borrower on the last day of the Availability Period
	 	On the date falling fifty-one (51) Months from the first Utilisation Date	2.25% of all Loans amount utilised but outstanding by the Borrower on the last day of the Availability Period
	 	On the date falling fifty-four (54) Months from the first Utilisation Date	2.5% of all Loans amount utilised but outstanding by the Borrower on the last day of the Availability Period
	 	On the date falling fifty-seven (57) Months from the first Utilisation Date	2.5% of all Loans amount utilised but outstanding by the Borrower on the last day of the Availability Period
	 	Final Repayment Date	The entire outstanding amount of the Loans. Provided that if the term of the Loans is extended to Extended Final Repayment Date pursuant to Article 6.3 (Loan Extension) hereof, the Borrower and all Lenders shall negotiate and reach an agreement on the prepayment schedule after the extension, or the Borrower shall repay  all the outstanding amount on the Initial Final Repayment Date.

 

The Borrower shall repay the Loans in
accordance with the repayment schedule in the table above and pay interest thereon in accordance with the provisions of this Agreement.
If the relevant date set out in the left column (Repayment Date) of the table above is not a Business Day, being the Business Day immediately
preceding such date.

 

    
		16	FACILITY AGREEMENT

     

    

 

		6.2	Repayment

 

The Borrower shall remit the corresponding
Repayment Amount to an account designated by the Facility Agent by way of wire transfer or inter-bank transfer before 11: 00 a.m. on
each Repayment Date.

 

		6.3	Loan Extension

 

		(a)	On any Business Day during the
period commencing from the date of this Agreement and expiring at the date falling ninety (90) days prior to the Initial Final Repayment
Date (or other date as the Facility Agent may otherwise agree), the Borrower may deliver to the Facility Agent a written request
to extend the term of the Loans from Initial Final Repayment Date to Extended Final Repayment Date (an "Extension Request").

 

		(b)	The Facility Agent shall
notify each Lender of the details of the Extension Request as soon as practicable.

 

		(c)	Each Lender shall be entitled,
in its sole discretion, to decide whether or not to grant an Extension Request and shall notify the Facility Agent of its decision
within forty-five (45) Business Days of receipt of notice from the Facility Agent.

 

		(d)	If any Lender does not accept
an Extension Request, the Borrower shall repay to such Lender(s) its participations in the Loans (an "Unextended Loan")
on the Initial Final Repayment Date, and the Facility Agent shall notify the Borrower and each Lender thereof as soon as practicable.

 

		(e)	If all or part of the Lenders
agree to an Extension Request, then all or such part of the Lenders may extend the term of the Loans to Extended Final Repayment Date
and the Facility Agent shall notify the Borrower and each Lender thereof accordingly. If the term of the Loans is extended (whether
it is agreed to by all or part of the Lenders), the Borrower shall repay the outstanding Loans from Initial Final Repayment Date to Extended
Final Repayment Date in accordance with Clause 6.1 (Repayment Date and Amount) above.

 

		6.4	No Re-Borrowing

 

The Borrower may not re-borrow any part
of the Loans which is repaid without the prior written consent of all Lenders.

 

		7.	Prepayment and Cancellation

 

		7.1	Illegality

 

If,
at any time, it is or will become unlawful in any applicable jurisdiction for a Lender to perform any of its obligations as contemplated
by this Agreement or to fund or maintain its participation in any Loan:

 

		(a)	that Lender shall promptly notify the Facility Agent upon becoming aware of that event and shall use its
best endeavours to look for and transfer all of its rights and/or obligations under this Agreement to a new Lender (“New Lender”)
approved by the Borrower in accordance with Clause 22 of this Agreement;

 

		(b)	upon the Facility Agent notifying the Borrower, the relevant Commitment of that Lender will be immediately
cancelled; and

 

		(c)	the Borrower must, after the Facility Agent has notified it, repay that Lender's participation in the
Loans made to the Borrower on (i) the Interest Payment Date for each

 

    
		17	FACILITY AGREEMENT

     

    

 

	 	 	 Loan or (ii) if earlier, the last day of any applicable
grace period permitted by law.

 

		7.2	Voluntary cancellation

 

		(a)	Unless otherwise provided in this Clause 7.2, the Borrower may, on a Business Day during the Availability
Period, cancel the whole or any part of the Available Facility without any additional fee as a result of such cancellation by giving the
Facility Agent a prior written notice at least fifteen (15) days in advance (or such shorter period as the Majority Lenders may agree)
and prior to 11.30 a.m. of that date;

 

		(b)	in respect of any cancellation under Available Facility by the Borrower under paragraph (a) above,
each cancellation shall be a minimum amount of RMB 10,000,000 and an integral multiple of RMB 10,000,000 or an amount equal to all Available
Facility;

 

		(c)	the Available Facility that has not been utilised by the Borrower at the expiry date of the Availability
Period shall be automatically cancelled;

 

		(d)	the amount of the Available Facility cancelled pursuant to this Clause 7.2 will reduce the Commitment
of each Lender in pro rata to the Commitments then available to the Borrower; and

 

		(e)	the Borrower may not re-borrow any cancelled Available Facility.

 

		7.3	Voluntary prepayment of Loans

 

		(a)	Voluntary prepayment of Loans

 

At
any time, including during the Availability Period (provided that the available Commitments shall be cancelled before such prepayment),
the Borrower may, upon giving the Facility Agent a prior written notice on a Business Day at least fifteen (15) days in advance (or such
shorter period as the Majority Lenders may agree) and prior to 11.30 a.m. of that date, prepay the whole or any part of the Loans
and any interest incurred thereof without any additional fee or penalty other than the Prepayment Compensation, if any (but in the case
of a partial prepayment, being at least an amount of RMB 50,000,000 and an integral multiple of RMB 10,000,000 or other amount as the
Facility Agent may agree).

 

		(b)	If a prepayment date under paragraph (a) above
falls on an Interest Payment Date, the Borrower shall not be required to pay any Prepayment Compensation, any premium or any other
additional fees or penalties. If a prepayment date under paragraph (a)  above falls on a date which is not an Interest Payment Date
(for the purpose of this Clause 7.3, the Interest Payment Date shall exclude each prepayment date), Prepayment Compensation shall be paid
in accordance with Clause 7.7 of this Agreement (for the avoidance of doubt, such provision does not apply to relevant laws and regulations
(including without limitation the Notice on Further Regulating Credit Facility Charges to Lower Comprehensive Costs of Corporate Financing
(Yin Bao Jian Fa [2020] No.18), including such provision as amended or re-enacted from time to time) where no compensation is to be collected.
The Prepayment Compensation shall be determined pursuant to applicable laws, regulations and the regulations of competent institutions.

 

		(c)	If the Borrower voluntarily prepays any amount pursuant to this Clause 7.3, the Borrower shall also prepay
all interest incurred thereof which is due and payable under this Agreement on the date of such prepayment.

 

    
		18	FACILITY AGREEMENT

     

    

 

		(d)	Any prepayment pursuant to this Clause 7.3 shall be made by the Lenders in pro rata to the Loans
then being made by all Lenders to the Borrower.

 

		(e)	The Borrower, if upon a voluntary
prepayment, shall remit the amount of prepayment specified in the prepayment notice to an account designated by the Facility Agent by
way of wire transfer or inter-bank transfer no later than 11:00 a.m. on the prepayment date specified in the prepayment notice.

 

		7.4	Mandatory prepayment

 

		(a)	If the Borrower receives any net proceeds as a result of any disposal (excluding any regular maintenance,
improvement, repair, remodelling or replacement of the Project for normal operation purpose) of all or part of the Project Land, the workshops
in a size of 70,727.9 square meters, the buildings for production, power center, polluted water discharge station, storage for potatoes
and administrative buildings (in construction or after completion) as included in the NDRC Filing (“Non-disposal Assets”),
it shall promptly notify the Facility Agent upon becoming aware of such condition and promptly prepay to the Facility Agent (for and on
behalf of each Lender) the whole or part of the principal amount outstanding of the Loans at the time and in the amount, if any, as the
Facility Agent (acting on the instructions of the Majority Lenders) may require not exceeding the aggregate amount of net proceeds so
received by the Borrower.

 

		(b)	If (i) the Borrower becomes aware of a cost overrun (the total amount of the construction costs and
relevant expenses) over 120% of the Total Project Investment and is not able to update any applicable government approvals or filings
as required by local Ulanqab authority, or (ii) the Borrower is not able to complete the Project before or on the date that is 60-days
after the completion date indicated on the construction permit or any later date approved in an extension from Ulanqab local authority;
it shall promptly notify the Facility Agent (on behalf of the Majority Lenders) upon becoming aware of such condition. Subsequently, within
one (1) month counting from the date of cost overrun or date overdue, the Borrower shall promptly prepay to the Facility Agent (for
and on behalf of each Lender) the whole or part of the principal amount outstanding of the Loans at the time and in the amount, if any,
as the Facility Agent (acting on the instructions of the Majority Lenders) may require.

 

		(c)	If the Borrower receives a government issued announcement determining on a expropriation, compulsory expropriation,
or confiscation of all or part of the business or assets of the Project including the Non-disposal Assets (“Government Intervention”)
with the details of (a) the name and title of the initiating government, (b) the document number and date and purpose of such
announcement, (c) the scope of assets or business, and (d) the compensation standard for such Government Intervention (the “Government
Announcement”); it shall promptly notify the Facility Agent upon receiving such Government Announcement. The Facility Agent shall
grant a grace period for a term of 2 months for the Borrower before the Borrower shall promptly prepay the whole or part of the principal
amount outstanding of the Loans at the time and in the amount, if any, at the discretion of the Facility Agent (acting on the instructions
of the Majority Lenders).

 

		(d)	In the event that the Project
is materially damaged or lost and, in connection therewith, the Borrower receives any insurance indemnities or any other cash payment
related to insurance in excess of RMB 10,000,000 (an "Amount", collectively, "Amounts") under any insurance
policies relating to the Project, such Amounts shall be used for the reconstruction or repair of the Project. Nevertheless, if such Amount
is not utilized for reconstruction or repair or such reconstruction or repair will cause a delay having a Material Adverse Effect on the
Project, the Borrower shall promptly, upon the request of the Facility Agent (acting on the instructions of the Majority Lenders), prepay
to the 

 

    
		19	FACILITY AGREEMENT

     

    

 

			Facility
Agent (for and on behalf of each Lender) an amount, if any, requested by the Facility Agent not exceeding the aggregate Amounts so received
by the Borrower.

  

		(e)	If the Borrower receives any net proceeds from the disposal of assets not otherwise permitted by clause
20.8, it shall promptly notify the Facility Agent upon becoming aware of such condition and, upon the request of the Facility Agent (acting
on the instructions of the Majority Lenders), will promptly prepay to the Facility Agent (for and on behalf of each Lender) an amount
requested by the Facility Agent not to exceed the aggregate amount of net proceeds so received by the Borrower; provided, however, that
such proceeds shall not be required to be so applied to the extent (1) the Borrower notifies the Facility Agent that it intends to
reinvest such proceeds for the purpose of acquiring assets used, or useful to, its business, and (2) such reinvestment is consummated
within 180 days of receipt of the net proceeds.

 

		(f)	If any expropriation, attachment, sequestration, distress or execution affects
any asset or assets of a member of the Group having an aggregate value of not less than RMB 50,000,000,
which have Material Adverse Effect on the ordinary business and is not discharged within ten (10) days, the Borrower shall promptly,
upon the request of the Facility Agent (acting on the instructions of the Majority Lenders), prepay to the Facility Agent (for and on
behalf of each Lender) an amount which equals to the value of such assets.

 

		7.5	Borrower's Right of Prepayment and cancellation in relation to a Single Lender

 

		(a)	If

 

		(i)	any sum payable to any Lender by an Obligor is required to be increased under paragraph (a) of Clause
12.2 (Tax gross-up);

 

		(ii)	any Lender claims indemnification from any Obligor under Clause 12.3 (Tax indemnity) or Clause
13.1 (Increased costs); or

 

		(iii)	a Lender is not or ceases to be a FATCA Exempt Party for any payment to be made to a Lender (or the Facility
Agent on its behalf) in respect of any Finance Document at any time on or after the date falling three (3) Months prior to the earliest
FATCA Implementation Date, and as a result such Party must make a FATCA Deduction from the payment to be made to a Lender (or the Facility
Agent on its behalf) on and after the FATCA Implementation Date;

 

the
Borrower may (but is not obliged), whilst the circumstance giving rise to the requirement for that increase or indemnification
continues, give notice to the Facility Agent of cancellation of the Available Commitment of that Lender and/or require payment of that
Lender's participation in the Loans.

 

		(b)	On receipt of a notice referred to in paragraph (a) above, the Available Commitment of that Lender
will immediately be reduced to zero.

 

		(c)	The Borrower must prepay that Lender's participation in the relevant Loans on the first Interest Payment
Date falling after the Borrower has given notice under paragraph (a) above.

 

		7.6	Restrictions

 

		(a)	Any notice of cancellation
or prepayment given by any Party under this Clause 7 (Prepayment and Cancellation) shall be irrevocable and, unless otherwise expressly

 

    
		20	FACILITY AGREEMENT

     

    

 

			provided
in this Agreement, shall specify the date or dates upon which and the amount of that cancellation or prepayment is to be made.

 

		(b)	Any prepayment under this Agreement shall be
made together with accrued interest on the amount prepaid.

 

		(c)	The Borrower shall not repay or prepay all or any part of the Loans or cancel all or any part of the Available
Facility at the time and in the manner other than expressly provided in this Agreement.

 

		(d)	Any Loans prepaid by the Borrower
under this Clause 7 (Prepayment and Cancellation) shall be repaid against each instalment in positive order from the first instalment
of repayment in the order set out in Clause 6.1 (Repayment Date And Amount) of this Agreement. The amount prepaid will repay the
Loans made by each Lender in pro rata to the Borrower at such time according to the scheduled
repayment instalments.

 

		(e)	On receipt of a notice referred to in this Clause 7 (Prepayment and Cancellation), the Facility
Agent shall promptly forward a copy of that notice to either the Borrower or the affected Lender, as appropriate.

 

		(f)	The Borrower may not re-borrow
the Loan which has been prepaid without the prior written consent of all Lenders.

 

		(g)	The Borrower which makes a mandatory prepayment shall remit the prepayment amount required by the Facility
Agent to an account designated by the Facility Agent by way of wire transfer or inter-bank transfer no later than 11:00 a.m. on the
prepayment date determined pursuant to the preceding paragraph.

 

		7.7	Prepayment Compensation

 

		(a)	Subject to the other provisions of this Agreement, the Borrower shall, within three (3) Business
Days of a request by a Finance Party, pay the Prepayment Compensation to that Finance Party in accordance with Clause 7.3.

 

		(b)	Each Lender shall, promptly after a request by the Facility Agent, provide supporting documentation confirming
the amount of Prepayment Compensation incurred during the relevant period.

 

Article 5

 

COSTS OF UTILISATION

 

		8.	Interest

 

		8.1	Interest Rate

 

The
interest rate for each Loan under this Agreement shall be the aggregate of the applicable 5-year LPR rate as last published relating
to the relevant Interest Period and the Margin. The interest rate is annualized and simple interest rate.

 

		8.2	Interest Period

 

		(a)	An Interest Period shall start on the Utilisation Date or on the date on which its preceding

 

    
		21	FACILITY AGREEMENT

     

    

 

		 	 Interest
Period ends.

 

		(b)	Any Interest Period shall be three (3) Months.

 

		(c)	An Interest Period for each Loan shall not extend beyond the maturity date for such Loan and the last
Interest Period shall end on or before the Final Repayment Date.

 

		(d)	Except as otherwise provided in this Agreement, interest on each Loan during any Interest Period shall
accrue from the first day of such Interest Period to the last day of such Interest Period (excluding such date) at the rate applicable
thereto.

 

		(e)	Prior to determining an Interest Period for each Loan, the Facility Agent shall be entitled to shorten
an Interest Period to ensure that a sufficient Interest Period for the Loans would end on a Repayment Date in order for the Borrower to
repay the relevant repayment instalment due on that date. In such case, the Facility Agent shall notify the Borrower and the Lenders of
the determination of an Interest Period.

 

		(e)	The first Interest Period of the first Loan shall be calculated from the first Utilisation Date and terminated
on the immediate Interest Payment Date; each subsequent Interest Period of this Loan shall start from the expiry date of last Interest
Period and terminate on the next Interest Payment Date.

 

		(f)	The first Interest Period for each subsequent Loan (after the first Loan) will be calculated from the
disbursement date of that Loan, and if the Interest Period of that Loan will exceed the Interest Payment Date of the current Interest
Period of the first Loan, then the Interest Period of that Loan shall terminate on the Interest Payment Date of the current Interest Period
of the first Loan.

 

		(g)	Each Interest Period (other than the first Interest Period) for each Loan shall commence on (and including)
the Interest Payment Date of the previous Interest Period for that Loan.

 

		8.3	Calculation of Interest

 

Subject to the provisions of Clause
9.3, the interest with respect to each Loan shall be calculated on the simple interest and on the basis of a three hundred sixty (360)
day year for the actual number of days elapsed.

 

		8.4	Payment on Interest Payment Date

 

Interest on each Loan shall be payable
on each Interest Payment Date.

 

		8.5	Payment by the Borrower

 

The
Borrower shall remit the current amount of interest payable in full to the account designated by the Facility Agent by way of wire transfer
or inter-bank transfer no later than 11:00 a.m. on each Interest Payment Date.

 

		9.	Default Interest

 

		9.1	Penalty Interest on Overdue Period

 

If
the Borrower fails to pay any amount payable under this Agreement on the due date in accordance with the provisions of this Agreement,
the penalty interest rate of the Borrower set forth in this Agreement is 130 percent of the applicable interest rate specified
in Clause 8.1

 

    
		22	FACILITY AGREEMENT

     

    

 

(Interest Rate), or (if lower) at the lowest penalty interest rate for overdue amount applicable under the then applicable
PRC laws. Any payment of default interest (including default interest) on such overdue amount for the period from the due date until the
date of actual payment shall include interest for the period before and after judgment. The Lender's right to collect penalty interest
on overdue amount from the Borrower shall not affect other rights of the Lender under any Finance Document or applicable law.

 

		9.2	Penalty Interest for Misappropriation

 

In
the event that the Borrower misappropriates any Loan (or any part thereof) for the purpose other than that set out in Clause 3.1 (Loan
Purpose), the Borrower shall immediately upon request by the Facility Agent pay to the Facility Agent penalty interest for misappropriation
for the benefit of the Lender making such Loan. Such penalty interest for misappropriation shall be calculated on the basis of the amount
misappropriated and the actual number of days misappropriated at 150 percent of the applicable interest rate specified in Clause
8.1 (Interest Rate), or (if lower) at the lowest default interest rate for the misappropriated amount then applicable under PRC
law. The Lender's right to collect penalty interest for misappropriation from the Borrower shall not affect other rights of the Lender
under any Finance Document or applicable law. In case the same amount of the Loan is both overdue and misappropriated, the higher penalty
interest rate shall apply.

 

		9.3	Compound Interest

 

Upon
notice to the Borrower that default interest is accruing pursuant to this Clause 9, any default interest shall become due and payable
by the Borrower on the date specified by the Facility Agent (which date shall be no less than three (3) days after such notice).
Upon receipt of the payment from the Borrower, the Facility Agent shall transfer such overdue penalty interest, default interest and/or
penalty interest for misappropriation to the relevant Lender in pro rata in accordance with the overdue Loan and/or the misappropriated
Loan. In case of failure to pay on time and penalty interest, the Facility Interest Rate shall apply a compound interest rate on
quarterly basis.

 

		10.	Changes to the Calculation of Interest

 

		10.1	Market Disruption

 

		(a)	Subject to Clause 10.3 (Alternative criteria), with respect of each Loan, if a Market Disruption
Event occurs during the term of that Loan, the rate per annum applicable to each Lender's participation of that Loan shall be the rate
per annum notified to the Facility Agent by that Lender as soon as practicable, representing the cost to that Lender of raising its participation
of the Loans from whatever source it may reasonably select plus a reasonable margin.

 

		(b)	In this Agreement, Market Disruption Event means:

 

		(i)	the interest rate on a Loan shall be determined by reference to the LPR but LPR no longer exists in the
market; or

 

		(ii)	at noon on the Business Day
immediately following the applicable Interest Rate Determination Date, the Facility Agent receives notice from one or more Lenders (whose
participations individually or in the aggregate exceed 30 percent. of the Loans outstanding then), accompanied with evidence showing
that there has been any increase in the cost to that Lender or Lenders to fund the Loans under this Agreement and the increase materially
affects the profits of that Lender or Lenders, then "Market Disruption" clauses will be launched, and the Facility Agent shall 

 

    
		23	FACILITY AGREEMENT

     

    

 

		 	notify the Borrower and the relevant Finance Parties as soon as practicable thereof (such notice being a Market Disruption Notice).

 

		10.2	No Suspension of Utilisations

 

If a Market Disruption Event applies
to a Loan to be advanced, the Loan shall be advanced on the required Utilisation Date, subject to Clause 10.3 (Alternative criteria).

 

		10.3	Alternative criteria

 

		(a)	If a Market Disruption Event occurs and the Facility Agent or the Borrower so requires, the Facility Agent
and the Borrower shall immediately enter into negotiations (which shall take no more than thirty (30) days) with a view to agreeing a
new alternative rate of interest.

 

		(b)	Any alternative rate of interest agreed pursuant to paragraph (a) above shall, upon the prior consent
of the Majority Lenders and the Borrower, be binding on all Parties.

 

		(c)	For the avoidance of doubt, if no alternative rate of interest is agreed between the Borrower and the
Lenders within thirty (30) Days after the commencement of negotiations, the rate of interest applicable to the Loan shall be the rate
determined in accordance with Clause 10.1(a).

 

		11.	Fees

 

		11.1	Commitment fee

 

		(a)	The Borrower shall pay to the Facility Agent, for the account of each Lender, a commitment fee equal to
0.3 percent per annum on the average daily undrawn balance of the Facility, which fee shall be calculated quarterly in arrears, commencing
on the date hereof until the earlier of (x) the last day of the Availability Period or (y) the date on which the Facility is
cancelled in full.

 

		(b)	The commitment fee shall be payable quarterly in arrears during the Availability Period and on the following
date:

 

		(i)	each Interest Payment Date;

 

		(ii)	the last date of the Availability Period;

 

		(iii)	to the extent any Lender’s Commitment is cancelled in
full prior to the last day of the Availability Period, the date of such cancellation.

 

		(c)	The commitment fee shall be calculated on the basis of a three hundred and sixty (360) day every year.

 

		(d)	The commitment fee will not be refunded in any case after payment.

 

		(e)	The commitment fee paid pursuant to this Clause 11.1 shall be shared by each Lender according to the proportion
of each Lender’s Available Commitment then to the Available Facility.

 

		11.2	Other fees

 

The Borrower shall pay to the relevant
Finance Party the other fees in respect of this Agreement in accordance with the relevant Fee Letter in the amount and at the time specified
therein.

 

    
		24	FACILITY AGREEMENT

     

    

 

For any fee payable under this Agreement
and the relevant Fee Letter, each Finance Party shall, for the purpose of charging such fees, cooperate to provide the invoice at the
Borrower's reasonable request.

 

Article 6

 

Additional Payment Obligations

 

		12.	Tax Gross-up and Indemnities

 

		12.1	Definitions

 

In this Clause 12:

 

"Tax Deduction" means
a deduction or withholding for or on account of any present or future Tax from any payment under a Finance Document, other than a FATCA
Deduction.

 

"Tax Credit"
means a credit against, relief or remission for, refund or repayment of any Tax.

 

"Tax Payment" means
an increased payment made by an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax
indemnity).

 

		12.2	Tax Gross-up

 

		(a)	All payments to be made by an
Obligor to any Finance Party under the Finance Documents must be made without any Tax Deduction, unless a Tax Deduction is required
by law. If an Obligor is required by law to make a Tax Deduction, and if that Tax Deduction is not described
in the exclusions in paragraph (a)(i) through (vii) of Clause 12.3 (Tax Indemnity) (“Non-Excluded Tax Deduction”)
that Obligor must increase the amount payable (to the extent of such Non-Excluded Tax Deduction required) with the result that such Finance
Party receives a sum net of any deduction or withholding equal to the sum which it would have received had no Non-Excluded Tax Deduction
been made or required to be made; provided however, a Finance Party shall not receive a greater after-tax amount resulting from a change
in law.

 

		(b)	An Obligor must promptly notify the Facility Agent if it is aware that it must make a Tax Deduction (or
any change in the rate or the basis of a Tax Deduction). Similarly, a Finance Party shall notify the Facility Agent if it is so aware
in relation to a payment payable to a Finance Party. The Facility Agent shall, on receiving a notification from a Finance Party, notify
the relevant Obligor.

 

		(c)	If an Obligor is required to make a Tax Deduction, that Obligor must make the minimum Tax Deduction required
by law and must make any payment required in respect of that Tax Deduction within the time required by law.

 

		(d)	Within thirty (30) days of making either a Tax Deduction or any payment required in connection with that
Tax Deduction, the Obligor making that Tax Deduction must deliver to the Finance Party entitled to the payment and the Facility Agent
evidence that the Tax Deduction has been made or (as applicable) the appropriate payment has been paid to the relevant taxing authority.

 

    
		25	FACILITY AGREEMENT

     

    

 

		12.3	Tax Indemnity

 

		(a)	Without prejudice to Clause 12.2 (Tax gross-up), if any Finance Party is required to pay any Tax
on or in relation to a sum received or receivable under any Finance Document or if any Finance Party is determined, levied, claimed or
assessed to be liable to pay any such sum, unless such sum results from the wilful misconduct or gross negligence of the Finance Party,
the Borrower must promptly, within ten (10) Business Days of request by the Facility Agent, indemnify the Finance Party which suffers
a loss or liability as a result of such payment or liability, together with any reasonable interest, costs and expenses payable or incurred
as a result thereof, provided that this Clause 12.3 shall not apply to:

 

		(i)	any Tax imposed on and calculated by reference to the net income actually received or receivable by that
Finance Party in its jurisdiction of incorporation;

 

		(ii)	any Tax imposed on and calculated by reference to the net income received or receivable by the Facility
Office of that Finance Party in the jurisdiction in which that Facility Office is located;

 

		(iii)	amounts compensated for by an increased payment under Clause 12.2 (Tax Gross-up);

 

		(iv)	a FATCA Deduction required to be made by a Party;

 

		(v)	goods and services or other value-added, consumption, sales, use or similar taxes (including any additions to Tax, if any) payable
by a Finance Party (including in respect of interest, charges, or reimbursements paid by the Borrower in respect of the Loan (including
those payable in respect of the fees and disbursements of legal counsel retained by the Finance Parties));

 

		(vi)	in the case of a Finance Party, withholding Taxes imposed on amounts payable to or for the account of
such Finance Party with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such
Finance Party acquires such interest in the Loan or Commitment or (ii) such Finance Party changes its lending office, except in each
case to the extent that, pursuant to Section 12, amounts with respect to such Taxes were payable either to such Finance Party’s
assignor immediately before such Finance Party became a party hereto or to such Finance Party immediately before it changed its lending
office; or

 

		(vii)	Taxes attributable to a Finance Party’s or the Facility Agent’s failure to provide to the
Obligor or the Facility Agent any tax forms, certifications, or other documentation described in Clause 12.6(e).

 

		(b)	A Finance Party intending to make a claim under paragraph (a) must notify the Facility Agent of the
event giving rise to the claim, whereupon the Facility Agent must notify the Borrower.

 

		(c)	A Finance Party must, on receiving a payment from an Obligor in accordance with this Clause 12.3, notify
the Facility Agent.

 

		12.4	Tax Credit

 

If an Obligor makes a Tax Payment and
the relevant Finance Party determines that:

 

		(a)	any Tax Credit results from:

 

    
		26	FACILITY AGREEMENT

     

    

 

		(i)	a Tax Payment that is part of an increased payment;

 

		(ii)	such Tax Payment; or

 

		(iii)	a Tax Deduction that is a result of a Tax Payment required; and

 

		(b)	that Finance Party has obtained and used that Tax Credit,

 

the Finance Party shall pay to the Obligor
an amount which will put the Obligor (after making that payment) in the same after-Tax position it would have been in if the Tax Payment
had not been required to be made by law or under a Finance Document.

 

		12.5	Stamp Taxes

 

The Borrower and each Finance Party
shall pay all stamp and other similar Taxes payable by it under the Finance Documents.

 

		12.6	FATCA Information

 

		(a)	Subject to paragraph (c) below, each party to this Agreement shall, within ten (10) Business
Days of a reasonable request by the other party:

 

		(i)	confirm to each of the other parties whether it:

 

		(A)	is a FATCA Exempt Party; or

 

		(B)	is not a FATCA Exempt Party; and

 

		(ii)	supply to the other party
with such forms, documents and other information regarding its status under FATCA as such other parties shall reasonably request for the
purpose of complying with FATCA or any other law or regulation or information exchange administration (including intergovernmental agreements)
(including applicable "passthru payment percentages" or as required under regulations or other official guidance of the US Treasury
Department).

 

		(b)	If any party identifies to the other parties in accordance with paragraph (a) (i) above that
it is a FATCA Exempt Party, such party shall notify the other parties as soon as reasonably practicable upon becoming aware that such
party is not or is no longer a FATCA Exempt Party.

 

		(c)	Paragraph (a) above will not compel any Finance Party to do anything which in its reasonable opinion
would or might constitute a breach of:

 

		(i)	any law or regulation;

 

		(ii)	any fiduciary obligation; or

 

		(iii)	any obligation of confidentiality.

 

		(d)	If a party fails to provide to the other party any such forms, documents and other information set out
in paragraph (a) above (including, for the avoidance of doubt, where paragraph (c) above applies):

 

		(i)	if that party fails to confirm whether it is a FATCA Exempt Party then that party shall not be considered
a FATCA Exempt Party for the purposes of the Finance Documents;

 

    
		27	FACILITY AGREEMENT

     

    

 

		(ii)	if that party is unable to confirm
its applicable "Passthru Payment Percentage", then for the purposes of the Finance Documents (and the payments made under
them), such party shall be deemed to have a "Passthru Payment Percentage" of 100 percent,

 

until such parties have provided required
confirmations, forms, documents and other information (in each event).

 

		12.7	FATCA Deduction by Obligors

 

		(a)	Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection
with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction
or otherwise compensate the recipient of the payment for that FATCA Deduction.

 

		(b)	Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any
change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and, in addition shall notify
the Borrower and the Facility Agent and the Facility Agent shall notify the other Finance Parties.

 

		13.	Increased Costs

 

		13.1	Increased Costs

 

		(a)	Subject to Clause 13.3 (Exceptions), the relevant Obligor shall, within three (3) Business
Days of a demand by the Facility Agent, pay to the Finance Parties the amount of any Increased Costs incurred by that Finance Party as
a result of:

 

		(i)	the introduction of or any change in (or in the interpretation, administration or application of) any
law or regulation; or

 

		(ii)	compliance with any law or regulation made after the date of this Agreement.

 

in this paragraph (a) "law"
or "regulation" shall include, without limitation, any law or regulation relating to capital adequacy, limitations on prudent
practices, liquidity, reserves or Tax.

 

		(b)	In this Agreement "Increased Costs" means:

 

To the extent that, or as a result of,
that Finance Party's undertaking of its Commitment or funding or performing its obligations under, any Finance Document:

 

		(i)	a reduction in the rate of return from the Facility or on that Finance Party's overall capital (including,
without limitation, any reduction resulting from a lower rate of return from more capital required to be deployed by that Finance Party);

 

		(ii)	an additional or increased cost; or

 

		(iii)	a reduction of an amount due and payable under any Finance Document.

 

		13.2	Increased Costs Claims

 

		(a)	A
Finance Party intending to make a claim pursuant to Clause 13.1 (Increased Costs) shall notify the Facility Agent of the event
giving rise to the claim, together with a certificate setting
forth in reasonable detail a breakdown confirming the calculation 

 

    
		28	FACILITY AGREEMENT

     

    

 

		 	of the actual Increased Cost and supporting documents that support the actual Increased Cost, following
which the Facility Agent shall promptly notify the relevant Obligor.

 

		13.3	Exceptions

 

		(a)	Clause 13.1 (Increased Costs)
does not apply to the extent any Increased Cost is:

 

		(i)	attributable to a Tax Deduction
required by law to be made by an Obligor ;

 

		(ii)	attributable to a FATCA Deduction
required by law to be made by any Party;

 

		(iii)	compensated for in accordance with Clause 12.3 (Tax indemnity) (or would have been compensated
for in accordance with Clause 12.3 (Tax indemnity) but was not so compensated solely because any of the exclusions in paragraph
(a) of Clause 12.3 (Tax indemnity) applied); or

 

		(v)	attributable to gross
negligence or wilful misconduct by a Finance Party or its Affiliates or a wilful breach by a Finance Party or its Affiliates of
any law or regulation.

 

		(b)	In this Clause 13.3, "Tax Deduction" has the meaning given to it in Clause 12.1 (Definitions).

 

		14.	Other indemnities

 

		14.1	Currency indemnity

 

		(a)	If any sum is payable by an Obligor under the Finance Documents (a "Sum"), or pursuant
to an order, judgment or award given or made in relation to a Sum, shall be converted into RMB from the currency (the "First Currency")
in which that Sum is payable for the purpose of:

 

		(i)	making or filing a claim or proof against an Obligor; or

 

		(ii)	applying for or enforcing an order, judgment or award in any litigation or arbitration proceedings,

 

an
Obligor shall, within ten (10) Business Days of demand, indemnify each Finance Party to whom that Sum has been paid, in respect
of any cost, loss or liability arising as a result of any discrepancy between (A) the rate of exchange in respect of that Sum from
the First Currency to RMB and (B) the rate of exchange applicable to that person at the time of its receipt of that Sum, provided
that the Finance Party provides the Obligor with valid documentary evidence of the actual loss.

 

		(b)	Each Obligor waives any right it may have in any other jurisdiction to pay any amount under the Finance
Documents in a currency or currency unit other than that in which it is agreed to be payable.

 

		14.2	Other indemnities

 

The
relevant Obligor shall, within ten Business Days of demand, indemnify each Finance Party against any actual cost or loss arising
as a result of:

 

		(a)	the occurrence of any Event of Default;

 

    
		29	FACILITY AGREEMENT

     

    

 

		(b)	any information submitted or approved by the relevant Obligor
is or is found to be misleading and/or deceptive in any material respect;

 

		(c)	any enquiry, investigation, circular (or similar order) or action relating to the relevant Obligor or
transactions contemplated or to be made or funded under this Agreement, unless such enquiry, investigation, circular (or similar order)
or action results from a Finance Party’s wilful misconduct or gross negligence;

 

		(d)	a failure by an Obligor to pay any amount due under a Finance Document on
its due date or in the relevant currency, including any cost, loss or liability arising as a result of Clause 26 (Sharing among the
Finance Parties);

 

		(e)	funding or making arrangements to fund its participation in a Loan requested by the Borrower in a Utilisation
Request but the Loan is not made due to the operation of any one or more of the provisions of this Agreement for reasons attributable
to the Borrower; or

 

		(f)	a Loan (or any part of it) not being prepaid in accordance with a notice of prepayment given by the Borrower.

 

		14.3	Indemnity to the Facility Agent

 

The relevant Obligor shall promptly
and jointly and severally indemnify the relevant Facility Agent against any actual loss arising as a result of:

 

		(a)	caused by any breach by the Obligor of Clause 16.3 (Enforcement costs);

 

		(b)	caused by the exercise by the
Facility Agent of any rights, powers, discretions and remedies vested in it under the Finance Documents or by law in the performance of
its functions as Facility Agent other than such exercise with wilful misconduct or gross
negligence;

 

		(c)	the Facility Agent investigating any Event of
Default; or

 

		(d)	acting and relying on any notice,
request or instruction of such Obligor which it reasonably believes to be genuine, correct and duly authorised,
including in any case when the Facility Agent is subject to any action, claim or proceedings by making
the entrusted payment instructions of the Borrower, or will suffer any loss, damage, cost and expense as a result thereof.

 

		14.4	Continuation of Liabilities

 

The
indemnities of any party under the Finance Documents to the other relevant parties shall be a continuing obligation and will not be affected
by any release or disposal under any Finance Document. These indemnities shall be independent of its other obligations under the Finance
Documents and shall continue notwithstanding termination of the Finance Documents and/or the resignation of the Facility Agent if they
are then outstanding. A party so entitled to an indemnification under or in connection with the Finance Documents has no need to
make any payment or incur any expense until such liability has been enforced.

 

    
		30	FACILITY AGREEMENT

     

    

 

		15.	Mitigation by the Lenders

 

		15.1	Mitigation

 

		(a)	Each Finance Party shall take all reasonable steps to mitigate any circumstances which arise or would
give rise to an amount payable or cancelled under Clause 7.1 (Illegality), Clause 12 (Tax Gross-up and Indemnities) or Clause
13 (Increased Costs), including (but not limited to) transferring its rights and obligations under the Finance Documents to another
Affiliate or Affiliate.

 

		(b)	Paragraph (a) above does not in any way limit the obligations of any Obligor under the Finance Documents

 

		15.2	Limitation of Liability

 

		(a)	An Obligor shall indemnify each
Finance Party for all costs and expenses reasonably incurred by that Finance Party (acting reasonably) as a result of steps taken by that
Finance Party pursuant to Clause 15.1 (Mitigation) provided that the Obligor has been provided by the Finance Party with valid
documentary evidence of its actual and reasonable costs and expenses.

 

		(b)	A Finance Party is not obliged or entitled to take steps if, in the opinion of that Finance Party (acting
reasonably), steps taken in accordance with Clause 15.1 (Mitigation) might be prejudicial to the interests of that Finance Party
or Obligor.

 

		16.	Costs and Expenses

 

		16.1	Transaction Expenses

 

The Borrower shall, within 30 Business
Days of demand, pay to the Facility Agent, and those of its affiliates or branches, all reasonable and documented costs and expenses (including
without limitation legal fees of one counsel for the Mandated Lead Arrangers up to an amount not to exceed USD70,000 and travel, due diligence,
printing, publicity and bank presentation costs) incurred by it in connection with entering into:

 

		(a)	this Agreement; and

 

		(b)	any other Finance Documents
executed on or after the date of this Agreement.

 

the
above payment obligations of the Borrower will not be affected in any way by reason of any enforcement, cancellation or non-withdrawal
of the facility under this Agreement or otherwise rescission or vice versa.

 

		16.2	Amendment Costs

 

If
(a) an Obligor requests an amendment, waiver or consent or (b) an amendment is required to be made pursuant to Clause 27.9 (Change
of currency), an Obligor shall, within ten Business Days of demand, reimburse the Facility Agent for the amount of all reasonable
costs and expenses incurred by the Facility Agent in responding to, evaluating, negotiating or complying with the relevant requirement
or requirement, unless otherwise expressly provided by law or regulation or governmental authority to be not payable by an Obligor.

 

		16.3	Enforcement Costs

 

The
relevant Obligor shall, within ten Business Days of demand, pay to each Finance Party the amount of all reasonable costs and expenses
incurred by that Finance Party in connection with the enforcement of, or the preservation of any rights under, any Finance Document, unless
otherwise expressly provided by law or regulation or governmental authority to be not payable by an Obligor.

 

    
		31	FACILITY AGREEMENT

     

    

 

Article 7

 

REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF
DEFAULT

 

		17.	Representations

 

The Borrower shall (and ensure each
Obligor and each member of the Group shall) make each of the representations and warranties set out in this Clause 17 to the Finance Parties
on the date of this Agreement in relation to itself or (as applicable) in relation to an Obligor or a member of the Group.

 

		17.1	Identity

 

		(a)	Any Obligor or any member of the Group is a company duly incorporated and validly existing under the laws
of its jurisdiction of incorporation.

 

		(b)	Any Obligor or any member of
the Group has the power to own the assets which
are material to its operations and carry on its business as it is being conducted.

 

		(c)	Neither any Obligor nor any member of the Group is a FATCA Foreign Financial Institution or US Tax Obligor.

 

		17.2	Binding Obligations

 

Except for any general principles of
law limiting its obligations specifically referred to in any legal opinion issued pursuant to Clause 4 (Conditions Precedent of Utilisation),
the obligations expressed to be assumed by an Obligor in each Finance Document are legal, valid, binding and enforceable obligations.

 

		17.3	Non-conflict with other Obligations or Laws

 

The entry into and performance by each
Obligor of, and the transactions contemplated by, the Finance Documents to which it is a party do not or will not conflict with, and having
a Material Adverse Effect:

 

		(a)	any law or regulation applicable to it;

 

		(b)	its constitutional documents or any restriction on its powers or the powers of its directors; or

 

		(c)	any agreement or instrument
binding on it or any of its property.

 

		17.4	Power and authority

 

Each Obligor has the power to enter
into, perform and deliver, and has taken all action necessary to authorise it to enter into, perform and deliver, the Finance Documents
to which it is a party and the transactions contemplated by those Finance Documents.

 

		17.5	Validity and admissibility in evidence

 

All material Authorisations
required:

 

		(a)	to enable each Obligor lawfully to enter into, exercise its rights and comply with its obligations under
the Finance Documents to which it is a party;

 

    
		32	FACILITY AGREEMENT

     

    

 

		(b)	to make the Finance Documents to which each Obligor is party admissible as evidence in the jurisdiction
of incorporation of that Obligor; and

 

		(c)	to enable each Obligor to carry on its business and other members of the Group where failure by such other
members of the Group to do so could cause a Material Adverse Effect,

 

have been obtained or done and are in
full force and effect.

 

		17.6	Governing Law and Enforcement

 

		(a)	The choice of governing law of the Finance Documents may be recognised and enforced in the jurisdiction
of incorporation of each Obligor.

 

		(b)	Any judgment obtained in the jurisdiction of choice of the Finance Documents may be recognised and enforced
in the jurisdiction of incorporation of each Obligor.

 

		17.7	Tax Deduction

 

It is not required under the laws of
the jurisdiction of the Borrower that the Borrower make any Deduction for tax purposes from any payment it may make pursuant to any Finance
Document in the place of incorporation or residence or at the address specified in this Agreement to a Finance Party that is incorporated
in the PRC or a Finance Party that is a PRC branch of a non PRC Finance Party (it being understood that the jurisdiction of incorporation
of the Borrower is the PRC).

 

		17.8	No Filing or Stamp Taxes

 

Under
the laws of the jurisdiction of incorporation of the Borrower, it is not necessary that the Finance Documents be filed, recorded or enrolled
with any court or other authority in that jurisdiction or that any stamp, registration or similar Tax be paid on or in relation to the
Finance Documents or the transactions contemplated by the Finance Documents except for stamp duty currently levied in the PRC on the amount
which equals to 0.005 percent of the Total Commitments (it being understood that the jurisdiction of incorporation of the Borrower
is the PRC).

 

		17.9	Assets

 

Each Obligor has full and complete title
to, and has a leasehold right or other right to lawful use, those assets material and necessary for its operations (including without
limitation the Project) free from any mortgage or pledge, except:

 

		(a)	any mortgage or pledge existing as at the date of this Agreement;

 

		(b)	any mortgage or pledge arising in its ordinary course of business permitted in accordance with the provisions
of this Agreement;

 

		(c)	other charge or pledge permitted
by, or created pursuant to, the Finance Documents; and

 

		(d)	as otherwise permitted pursuant to Clause 20 hereof.

 

		17.10	Bankruptcy

 

		(a)	No Obligor or member of the Group is or is assumed to be unable or admitted inability to pay its debts
as they fall due, suspends making payments on any of its debts or enters 

 

    
		33	FACILITY AGREEMENT

     

    

 

		 	into negotiations with one or more of its creditors with a view
to reorganising any of its indebtedness on the basis of actual or anticipated financial difficulties.

 

		(b)	The Obligors and the other members of the Group,
taken as whole, are not valued less than its liabilities (taken into account as temporary and contingent liabilities).

 

		(c)	No moratorium is now declared in respect of any indebtedness of any Obligor or member of the Group.

 

		17.11	Compliance with laws

 

No
Obligor or member of the Group is in violation of (a) any laws and regulations applicable to it, (b) any permits, approvals
and authorisations necessary for its operations or (c) any material agreement or document binding upon it or any of its properties,
in each case, other than any violation that would not result in a Material Adverse Effect.

 

		17.12	No default

 

No Default is now continuing or could
reasonably be expected to result as a result of any Utilisation.

 

		17.13	No misleading information

 

To
the knowledge of the Borrower, all information supplied by each of the Obligors was true, complete and accurate in all material respects
as at the date it was given and is not misleading in any material respect.

 

		17.14	Financial statements

 

		(a)	Its financial statements most recently supplied to the Facility Agent (which, at the date of this Agreement,
are its Original Financial Statements) were prepared in accordance with GAAP consistently applied other than to the extent expressly disclosed
in such financial statements.

 

		(d)	All Original Financial Statements
give and represent a true and fair view of the financial condition and operations of the relevant Obligor during the financial
year to which they relate, except as expressly disclosed in such Original Financial Statements.

 

		(e)	Since the date of the Original
Financial Statements, there has been no change in the business or financial condition of the Group, nor has there been any change in the
business or financial condition of the Group, in each case, which would be reasonably likely
to result in a Material Adverse Effect.

 

		17.15	Pari passu ranking

 

The obligations of each Obligor under
the Finance Documents constitute direct, unconditional and unsubordinated obligations of that Obligor and rank at least pari passu
with the claims of all its present or future direct, unsecured and unsubordinated creditors, except for preferred claims mandatorily provided
by law applying to companies generally.

 

		17.16	No pending proceedings

 

No
litigation, arbitration, investigation or administrative proceedings of or before any court, arbitral body or agency have (to the best
of its knowledge and belief) been started or commenced against any Obligor or member of the Group, if determined against such Obligor
or member of the Group, would be reasonably likely to result in a Material Adverse Effect.

 

    
		34	FACILITY AGREEMENT

     

    

 

		17.17	Environmental Laws and Permits

 

Each Obligor and any member of the Group
has:

 

		(a)	complied with all Environment and Social Risk Management Laws applicable to it, except where failure to
comply would not result in a Material Adverse Effect;

 

		(b)	obtained all Environment and Social Risk Management Permits required or required by its business, except
where failure to comply would not result in a Material Adverse Effect; and

 

		(c)	complied with the terms and conditions of Environment and Social Risk Management Permits, except where
failure to comply would not result in a Material Adverse Effect.

 

		17.18	Authorised Signatures

 

Any person specified as its authorised
signatory in Schedule 2 (Conditions Precedent) or paragraph (f) of Clause 18.4 (Information: miscellaneous) is authorised
to sign Utilisation Requests (in the case of the Borrower only) and other notices on behalf of the applicable Obligor.

 

		17.19	No Exemption

 

No Obligor will be entitled to claim
immunity from suit, execution, attachment or other legal process in its jurisdiction of incorporation or in the jurisdiction of any Finance
Document whether generally or in relation to any particular asset.

 

		17.20	Tax Payment

 

Any
Obligor or member of the Group has paid all Tax levied on it or in relation to its assets when due and payable, and no Tax claim or other
dispute in relation to Tax has been or is to be instituted against it, except that, (i) such Obligor or member of the Group
has sufficient grounds to believe that it has performed the obligation of Tax payment in accordance with law and has lodged a complaint
against the relevant determination by the competent tax authority in accordance with procedures prescribed by law or (ii) where the
failure to do so would not be expected to result in a Material Adverse Effect.

 

		17.21	No Material Adverse Effect

 

No change having Material Adverse Effect
shall have occurred.

 

		17.22	Sanctions

 

None of the Obligors, any of their Subsidiaries,
nor any of the directors, officers, employees, agents and affiliates of the Borrower or any of its Subsidiaries (each, an "Individual")
is, or is controlled or owned by Persons that are (i) the target of sanctions administered or enforced by the Office of Foreign Assets
Control of the US Department of the Treasury, the US Department of State, the United Nations Security Council, the European Union, Her
Majesty's Treasury, the Hong Kong Monetary Authority or relevant authorities in the PRC (collectively, the "Sanctions")
or (b) applicable export control regulations, or (c) located, organised or resident in any country or territory that is the
target of applicable Sanctions or applicable export control regulations, which currently includes the Crimea region, Cuba, Iran,
North Korea and Syria.

 

    
		35	FACILITY AGREEMENT

     

    

 

		17.23	Anti-money Laundering

 

		(a)	During the course of operation, the Borrower and any member of the Group will (i) comply with the
rules on financial data recording and reporting issued by competent governmental authorities and comply with the requirements of
anti-money laundering laws, regulations, rules or other similar regulatory legal documents (collectively, the "Anti-Money
Laundering Regulations") promulgated by competent governmental authorities; and (ii) neither the Borrower nor any member
of the Group will involve in any pending or potential governmental action, litigation or arbitration raised by competent authorities or
other entities due to the Anti-Money Laundering Regulations (to the knowledge of the Borrower).

 

		(b)	The operations of the Borrower and any member of the Group are in compliance with applicable Anti-Money
Laundering Regulations.

 

		17.24	Anti-bribery or Anti-corruption

 

		(a)	Neither the Borrower
nor any member of the Group is aware of or has taken any action that may directly or indirectly result in violation of any applicable
anti-bribery laws (including, without limitation, the U.K. Bribery Act 2010 (the "U.K. Bribery Act"), the US Foreign
Corrupt Practices Act of 1977 (the "FCPA") and the PRC laws and regulations on anti-bribery), and to its knowledge, none
of the directors, officers, agents, employees or managers of the Borrower or any member of the Group or other Persons acting on behalf
of the Borrower or any member of the Group is aware of or has taken any such action.

 

		(b)	To the knowledge of the Borrower, the Borrower and any member of the Group have conducted their businesses
in compliance with the U.K. Bribery Act, FCPA and other similar laws, regulations or rules applicable to them and have instituted
and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance
therewith.

 

		(c)	Where any Facility is available and any amount is outstanding under this Agreement, the Borrower shall
ensure that no part of the proceeds of the Loan will be used, directly or, to the knowledge of the Borrower, indirectly, for payment that
could constitute a violation of any applicable anti- bribery or anti-corruption laws.

 

		17.25	Insurance

 

All
insurances the Borrower is required to maintain (i) under applicable laws and regulations, and (ii) in order to maintain standards
consistent with good industry practice (consistent with other operators or businesses engaged in similar businesses, "good industry
practice"), are maintained by it with reputable insurers or through self-insurance plans, and against such risks, amounts
and exclusions as are customary in accordance with good industry practice, and the Project insurances shall cover the replacement value
as indicated in the most recent valuation report of the Project or 110 percent of the Total Commitments, whichever is greater.

 

		17.26	The Project Based Fixed Assets

 

		(a)	The Borrower has full and complete title to the Project. Such title is not subject to any encumbrance
(other than the security or encumbrance permitted under the Finance Documents), including, without limitation, any attachment, freeze,
mortgage, pledge, lien or other priority.

 

		(b)	There is no undertaking, agreement, provision, condition or other matter relating to the Project which
would have a Material Adverse Effect.

 

    
		36	FACILITY AGREEMENT

     

    

 

		(c)	There is no matter which may have an adverse or overrule effect on the right to registration (including
ownership, use rights, security, etc.) of the Project.

 

		(d)	No Obligor is aware of or has received any notice or adverse claim from any person with respect to the
ownership of the Project or any other interest in the Project and no Obligor is aware that any adverse claim has been given to any person
in relation to the Project, in each case, which would reasonably likely result in a Material Adverse Effect.

 

		(e)	All of the requirements under applicable laws and regulations regarding the procedures of granting and
transferring of the land of the Project have been complied with. No event exists that may cause the land so transferred or assigned to
be repossessed or the transfer or assignment procedures to be deemed as invalid or any other violation of law. All material land grant
fees, land transfer fees (if any), deed tax and other related taxes relating to the Project have been fully paid.

 

		(f)	The Borrower is not in violation of any governmental regulations relating to the Project (including laws
and regulations relating to land use, construction and planning) in any material aspect.

 

		17.27	No Other Business

 

Except
for the development, ownership and management of the Project, the Borrower has not owned, managed or operated any other business since
its establishment.

 

		17.28	Wai Bao Nei Dai transaction

 

On a Utilisation Date, Borrower should
ensure that no security under any of the existing WBND transactions (if applicable) is in the process of being enforced or has been enforced;
or if enforced, the Subrogation Foreign Debt for such relevant WBND transaction has been fully paid up.

 

		17.29	Repetition

 

Repeating Representations are deemed
to be made by the Obligors as at the date of each Utilisation Request, on each Utilisation Date and on the first day of each Interest
Period, as to the facts and circumstances then subsisting. However, the representations and warranties set out in Clause 17.14 (Financial
statements) shall be deemed to be made in relation to the most updated financial statements delivered to the Facility Agent and repeated
on each day when such financial statement is so delivered.

 

		18.	Information
Undertakings

 

The undertakings in this Clause 18 remain
in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in
force.

 

		18.1	Financial Statements

 

The
Obligors shall supply the following documents to the Facility Agent (in sufficient copies for each
Lender, if the Facility Agent so requests):

 

		(a)	as soon as the same become available, but in any event within ninety (90) days after the end of each financial
half year of the Borrower, the unaudited consolidated financial statements of the Borrower for that half of the relevant financial year;
and

 

    
		37	FACILITY AGREEMENT

     

    

 

		(b)	as soon as the same become available, but in any event within one hundred and eighty (180) days after
the end of each financial year of the Borrower, the audited consolidated financial statements of the Borrower for that financial year
with respect to which its auditors have issued an unqualified opinion (other than qualifications resulting from pending maturity dates
or any prospective or actual breach of a financial covenant).

 

		18.2	Compliance Certificate

 

To
the extent the financial covenants have been added to this Agreement pursuant to Clause 19 (Financial Covenants) hereof, the Borrower
shall supply to the Facility Agent, with each set of financial statements delivered pursuant to paragraph (a) and (b) of Clause
18.1 (Financial statements), a Compliance Certificate signed by an authorised signatory of the Borrower, setting out (in reasonable detail),
pursuant to those financial statements, the computations as to the financial covenants required under Clause 19 (Financial Covenants)
of this Agreement, and confirming that such computations are in compliance with the provisions of Clause 19 (Financial Covenants) as at
the date as at which those financial statements were drawn up.

 

		18.3	Requirements as to financial statements

 

The Borrower shall procure that each
set of financial statements of the Borrower delivered by it pursuant to Clause 18.1 (Financial statements) is prepared using
the GAAP, accounting practices and financial reference periods consistent with those applied in its preparation of the Original Financial
Statements unless, in relation to any set of financial statements, the Obligor notifies the Facility Agent that there has been a change
in the GAAP, or the accounting practices or reference periods and its auditors (or, if appropriate, the auditors of the Obligor) deliver
to the Facility Agent:

 

		(i)	a description of any change necessary for those financial statements to reflect the GAAP, accounting practices
and reference periods upon which the Original Financial Statements were prepared; and

 

		(ii)	sufficient information, in form and substance as may be reasonably required by the Lenders, to enable
the Lenders to determine whether Clause 19 (Financial Covenants) has been complied with and make an accurate comparison between the financial
position indicated in those financial statements and the Original Financial Statements.

 

Any reference in this Agreement to those
financial statements shall be construed as a reference to those financial statements as adjusted to reflect the basis upon which the Original
Financial Statements were prepared.

 

		18.4	Information: miscellaneous

 

The
Borrower shall supply the following to the Facility Agent (in sufficient copies for each Lender,
if the Facility Agent so requests) in each case subject to the confidentiality provisions contained herein:

 

		(a)	without prejudice to Clause 5.5 (Loan Disbursement and Payment) hereof, descriptions of and information
relating to the withdrawal and use of the funds in the Loan Disbursement Account, including, without limitation, the following information
relating to any single sum of funds: time of withdrawal, payee, receiving account number, amount of payment, purpose, contract number
(if any) and a copy of the contract (if any);

 

		(b)	all material documents dispatched by the Borrower or any other member of the Group to its shareholders
(or any class of them) or its creditors in connection with the transactions

 

    
		38	FACILITY AGREEMENT

     

    

 

 

contemplated under the Finance Documents;

 

		(c)	promptly upon becoming aware of them, but in any event no later than five (5) Business Days after
becoming aware of them, and in writing, the details of any material litigation, arbitration or administrative proceedings which are current,
threatened or pending against an Obligor or any member of the Group, in each case, which would reasonably be expected to result in a Material
Adverse Effect;

 

		(d)	promptly, such further information regarding the financial condition, business and operations of the Obligors
or the Group as any Finance Party (through the Facility Agent) may reasonably request;

 

		(e)	all such relevant records or information as any Finance Party (through the Facility Agent) may reasonably
request evidencing that the Obligors and the Guarantor have the ability to perform their obligations under the Finance Documents;

 

		(f)	in case of any change in the authorised signatories of any Obligor, the Obligor shall, promptly (but in
any event no later than five (5) Business Days after such change is made), give the Facility Agent a notice signed by a director,
legal representative or authorised corporate officer or secretary (if applicable) or board resolutions of such Obligor, accompanied by
the authorisation documents for and specimen signatures of any new authorised signatories;

 

		(g)	the process report in relation to the construction or operation (after duly completed) of the Project
in quarter or any longer time as agreed by the Facility Agent (acting on the instruction of the Majority Lenders),and/or other report
which would reflect the valuation of the Project; and

 

		(h)	any document and information reasonably required by any Finance Party for the purpose of “know your
customer” checks or such other information of the Obligors or any member of the Group as it may reasonably request.

 

    
		39	FACILITY AGREEMENT

     

    

 

		18.5	Notification of default

 

The
Borrower shall notify the Facility Agent of any Event of Default or Potential Event of Default (including, without limitation,
an event that may have any Material Adverse Effect) (and the steps, if any, being taken to remedy it) promptly upon becoming aware of
its occurrence or threatened occurrence.

 

		18.6	Cross-Default Notification

 

Once any of the following circumstances
occurs, the Borrower shall promptly notify the Facility Agent of such situation:

 

(a)  Any material Financial Indebtedness
of any Obligor or any member of the Group is not paid when due nor within any applicable grace period.

 

(b)  Any material Financial Indebtedness
of any Obligor or any member of the Group is declared to be or otherwise becomes due and payable prior to its specified maturity as a
result of an event of default (however described).

 

(c) Any commitment for any material
Financial Indebtedness of any Obligor or any member of the Group is cancelled or suspended by a creditor of any Obligor or any member
of the Group as a result of an event of default (however described).

 

(d) Any creditor of any Obligor
or any member of the Group becomes entitled to declare any material Financial Indebtedness of any Obligor or such member of the Group
due and payable prior to its specified maturity as a result of an event of default (however described).

 

All lenders agree that such occurrence
will not directly trigger an Event of Default unless the result of such circumstance will otherwise trigger the violation of another condition
or provision under this Agreement and such violation results in an Event of Default pursuant to the provisions of Clause 22 hereof. In
any event, the Borrower shall ensure that cross-default provision will not be allowed in any subsequent loan agreement entered into after
this Facility and while the Facility Agreement is in place.

 

		19.	Financial Covenants

 

If the Guarantor’s Existing Credit
Agreement is terminated and not replaced, the Borrower and the Majority Lenders shall amend this Agreement to contain covenants consistent
(including the definitions thereof) with those financial covenants contained in the Guarantor’s Existing Credit Agreement immediately
prior to such termination.

 

		20.	General Undertakings

 

The undertakings in this Clause 20 remain
in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in
force.

 

		20.1	Authorisations

 

Each Obligor shall promptly:

 

		(a)	obtain, comply with and do all that is necessary to maintain in full force and effect; and

 

		(b)	upon request, supply
certified copies to the Facility Agent of,

 

    
		40	FACILITY AGREEMENT

     

    

 

any Authorisation required to enable
it to perform its obligations under the Finance Documents and to ensure the legality, validity, enforceability or admissibility in evidence
in its jurisdiction of incorporation] of any Finance Document.

 

		20.2	Compliance with laws

 

Each
Obligor shall (and shall ensure each member of the Group shall) comply in all respects with (a) all laws and regulations to which
it may be subject (including the Environment and Social Risk Management Laws),, (b) the
permits, approvals and Authorisations necessary for its operations, (c) any material agreement or document binding on it or any of
its property, and (d) its constitutional documents or restrictions on its powers or the powers of its directors, in each case, if
failure to so comply may have a Material Adverse Effect.

 

		20.3	Maintenance of status

 

		(a)	Each Obligor shall maintain its existence and conduct its business, maintain its existing licenses and
other approvals and permits and ensure that it has the power and is duly qualified to carry on its business in the PRC as it is being
conducted, in each case, where the failure to do so would be reasonably likely to result in a Material
Adverse Effect.

 

		(b)	The Obligors shall ensure that any other member of the Group will maintain its existence and conduct its
business, maintain its existing licenses and other approvals and permits and ensure that it has the power and is duly qualified to carry
on its business as it is being conducted in its place of registration and principal place of business, except where failure to obtain
or maintain such licenses, approvals or permits would not have a Material Adverse Effect.

 

		20.4	“Know your customer” procedure

 

		(a)	If:

 

		(i)	the introduction of or any change in (or in the interpretation, administration or application of) any
law or regulation made after the date of this Agreement;

 

		(ii)	any change in the status of an Obligor after the date of this Agreement; or

 

		(iii)	an assignment or transfer by any Finance Party of any of its rights and/or obligations under this Agreement
and/or the accession of any Additional Lender to this Agreement in accordance with Clause 2.2 (Increase in Total Commitments) of this
Agreement,

 

obliges a Finance
Party (or, in the case of paragraph (c) above, any prospective New Lender) to comply with “know your customer” or other
similar identification procedures in circumstances where the necessary information is not already available to it, the Obligors shall
as soon as practicable upon the reasonable request of the Finance Party (through the Facility Agent) supply, or procure the supply of,
such documentation or other evidence as is reasonably requested by the Finance Party (or, in the case of paragraph (c) above, on
behalf of any prospective new lender) in order for the Finance Party or, in the case of paragraph (c) above, any prospective new
lender to carry out and be satisfied that it has complied with all necessary “know your customer” procedures or other similar
procedures under the laws and regulations applicable to the transactions contemplated in the Finance Documents.

 

		(b)	Each Obligor agrees that to the extent permitted by the laws and regulations, it will from time to time
furnish to the Finance Parties the information regarding itself and/or its 

 

    
		41	FACILITY AGREEMENT

     

    

 

			shareholders, directors or officers, and the information regarding
any actual or potential Obligor which is reasonably requested by the Facility Agent. Each Obligor further authorises the Finance Parties
to collect the information related to it from any organization, institution and person and/or access the Financial Credit Information
Base Database (including without limitation the PBOC Enterprise Credit Information Database) from time to time to review or use the credit
reports and credit information of that Obligor for any of the following purposes: (i) accepting and reviewing that Obligor’s
applications for credit facilities; (ii) reviewing the credit standing of that Obligor as a security provider; (iii) managing
the post-loan risks; (iv) report credit data into Enterprise Credit Information Database; and (v) such other purpose as is reasonably
requested by the credit and financing services. The authorisation granted in this Clause to the Finance Parties to access the Financial
Credit Information Base Database to review or use the credit information of the Obligors shall remain in full force and effect until all
the Secured Liabilities have been unconditionally and irrevocably performed and no other matter remains outstanding under the Finance
Documents.

 

		20.5	Taxation matters

 

The Obligors (and shall ensure each
member of the Group) will:

 

		(a)	file the tax reports and revenues that are required to be filed in any jurisdiction in a timely manner;

 

		(b)	pay all taxes in a timely manner, and, if any tax is contested in good faith and in a proper way, ensure
to make a sufficient provision for payment for such tax; and

 

		(c)	timely pay the required stamp duty payable by it in respect of this Agreement and provide the Facility
Agent with the evidence that such stamp duty has been paid,

 

except
where (i) that member of the Group has sufficient grounds to believe that it has performed the above obligation and has appealed
against such determination by the competent tax authority in accordance with the procedures prescribed by law or
(ii) the failure to do so would not be expected to result in a Material Adverse Effect.

 

		20.6	Insurance

 

The
Borrower shall, at any time, based on the industrial practices of its industry (including, without limitation, the scope of insured assets,
and types and amounts of insurance) and in respect of the Project or other primary operating assets, take out and maintain in full force
and effect insurance, against those risks customarily insured against by the companies owning similar assets at the places where those
assets are located or operations take place. The Borrower agrees to deliver to the Facility Agent all documents and materials relating
to the aforesaid insurance as reasonably required by the Facility Agent (acting upon the instructions of the Majority Lenders).

 

		20.7	Negative pledge

 

		(a)	The Borrower shall (and shall ensure each member of the Group shall) not create or permit to subsist any
Security or Quasi-Security over any of its assets (including without limitation to the Project) without the written consent of the Majority
Lenders.

 

		(b)	The Borrower shall (and shall ensure each member of the Group shall) not:

 

		(i)	sell, transfer or otherwise dispose of any of its assets on terms whereby they are or may be leased to
or re-acquired by the Borrower;

 

    
		42	FACILITY AGREEMENT

     

    

 

		(ii)	sell, transfer or otherwise dispose of any of its accounts receivable on recourse terms;

 

		(iii)	enter into or permit to subsist any title retention arrangement (except for any such arrangement made
in the course of selling its assets);

 

		(iv)	enter into or permit to subsist any arrangement under which money or the benefit of a bank or other account
may be applied, set-off or made subject to a combination of accounts; or

 

		(v)	enter into or permit to subsist any other preferential arrangement having a similar effect,

 

in circumstances where the arrangement
or transaction is entered into primarily as a method of raising Financial Indebtedness or of financing the acquisition of an asset.

 

In this Clause 20.7, "Quasi-Security"
means an arrangement or transaction described in paragraph (b) above.

 

		(c)	Paragraphs (a) and (b) above do not apply to:

 

		(i)	any Security existing or committed and disclosed in writing to the Finance Parties as of the date of this
Agreement;

 

		(ii)	any lien arising by operation of law and in the ordinary course of trading provided that the debt which
is secured thereby is paid when due or contested in good faith by appropriate proceedings and properly provisioned;

 

		(iii)	any Security or Quasi-Security arising under any retention of title, hire purchase or conditional sale
arrangement or arrangements having similar effect in respect of goods supplied to a member of the Group in the ordinary course of trading
and on the supplier's standard or usual terms and not arising as a result of any default or omission by any member of the Group;

 

		(iv)	normal and customary rights of setoff upon deposits of cash in the ordinary course of its banking arrangements
for the purpose of netting debit and credit balances ;

 

		(v)	deposits to secure the performance of bids, trade contracts, surety and appeal bonds, performance bonds
and other obligations of a like nature, in each case in the ordinary course of business;

 

		(vi)	easements,
zoning restrictions, licenses, title restrictions, rights-of-way and similar encumbrances on real property imposed by law or incurred
or granted by any Obligor or any of its Subsidiaries in the ordinary course of business that, whether individually or aggregately, do
not secure any material monetary obligations and do not materially detract from the value of the affected property or materially interfere
with the ordinary conduct of business of any Obligor or any of their Subsidiaries; and actions of a like nature, in each case in the
ordinary course of business;

 

		(vii)	contractual rights of set-off (i) relating to the establishment of depository relations with banks
or other deposit-taking financial institutions and not given in connection with the issuance of any Financial Indebtedness, or (ii) relating
to pooled deposit or sweep accounts of any Obligor or any of its Subsidiaries to permit satisfaction of overdraft or similar obligations
incurred in the ordinary course of business of 

 

    
		43	FACILITY AGREEMENT

     

    

 

 any Obligor or any of its Subsidiaries;

 

		(viii)	other liens on assets of the Obligor or its Subsidiaries securing other obligations of the Obligor and
its Subsidiaries in the aggregate principal amount not to exceed RMB 50,000,000 at any time outstanding.

 

		20.8	Disposals

 

		(a)	Subject to the repayment and reinvestment provisions provided herein, in addition to the Non-disposal
Assets, the Borrower also shall not enter into a single transaction or a series of transactions (whether related or not and whether voluntary
or involuntary) to sell, lease, transfer, convey or otherwise dispose of any of its other assets without the prior written consent of
all Lenders.

 

		(b)	Paragraph (a) above does not apply to:

 

(i) any disposal
permitted by the Finance Documents;

 

(ii) any sale,
lease, transfer, normal replacement of equipment, disposal related to permitted insurance indemnity under clause 7.4(b) or other
disposal made by the disposing party in the ordinary course of its business and on an arm’s length basis;

 

(iii) any sale,
lease, transfer or other disposal of assets in exchange for other assets comparable or superior as to type, value and quality and for
a similar purpose (any upgrade on the main production lines shall comply with the latest NDRC Filing (if applicable) or be subject to
any PRC law, regulation and local requirement); or

 

(iv) other dispositions
and disposals (excluding any disposal under paragraphs (i) (ii) and (iii) listed above) so long as the aggregate amount
thereof sold or otherwise disposed does not exceed RMB 25,000,000 during the term of this Agreement.

 

		20.9	Loans or guarantees

 

The Borrower shall not make or allow
to subsist any loans, grant any credit or give or allow to remain outstanding any guarantee or indemnity to any third party (except for
the loans granted by the Borrower under the cash pool arrangement as permitted in Clause 20.17(c)) other than ordinary course of business.

 

No other Obligor shall (and the Borrower
shall ensure that no other member of the Group will) make or allow to subsist any loans, grant any credit or give or allow to remain outstanding
any guarantee or indemnity to or for the benefit of any person (other than (i) to or for a Subsidiary, its parent or an Affiliate,
(ii) in the ordinary course of business, or (iii) as required under any Finance Document) or otherwise voluntarily assume any
liability, whether actual or contingent, in respect of any obligation of any person.

 

		20.10	Maintenance of assets

 

The
Borrower shall ensure that it will (and shall ensure that each of the Obligors and other members of the Group will) properly repair and
maintain in good working order and condition all of its material assets necessary for the conduct of its business (except for ordinary
wear and tear in the ordinary course of business), other than where the failure to so do so would not likely result in a Material
Adverse Effect.

 

    
		44	FACILITY AGREEMENT

     

    

 

		20.11	Merger

 

Without
the prior written consent of the Facility Agent on behalf of the Majority Lenders, none of the Obligor or other member of the Group may
enter into any amalgamation, acquisition, demerger, merger or corporate reconstruction, unless such amalgamation, acquisition,
demerger, merger or corporate reconstruction would enhance the primary business capability of the Borrower and would not have any Material
Adverse Effect on the business, operation, assets, prospects, financial and other condition of the Borrower or all the liabilities and
debts of the Borrower in respect the Loans.

 

Notwithstanding the above provisions,
no transfer to a third party of the equity interest directly or indirectly held by the Guarantor in the Borrower may be made without the
prior written consent of the Facility Agent (acting on behalf of the Majority Lenders) and the Facility Agent (acting on behalf of the
Majority Lenders) may not unreasonably withhold such consent, while any transfer will not trigger the breach of Clause 21.14.

 

		20.12	Change of business

 

The
Borrower shall procure (and shall ensure that the Obligors and other members of the Group will procure) that no substantial change is
made to the nature and scope of the general business or operations of the Borrower and the Group from those carried on as of the date
of this Agreement or otherwise contemplated as of the date of this Agreement.

 

		20.13	Pari passu ranking

 

Each Obligor shall ensure that its payment
obligations under the Finance Documents rank at all times at least pari passu with the claims of all of its other existing and future
unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

 

		20.14	Shareholder loans and inter-affiliate loans

 

Each
Obligor shall ensure that all Financial Indebtedness owed by it to its shareholders or any member of the Group or Affiliate at any time
now or in the future will be subordinated to all debts (actual or contingent) owed by it to the Finance Parties under the Finance Documents.
While an Event of Default exists under this Agreement, no Obligor shall repay any Financial Indebtedness it owes to its shareholders or
any member of the Group or Affiliate until all debts (actual or contingent) (including without limitation any principal, interest, costs,
fees, expenses or other financing charges) owed by the Borrower to the Finance Parties under the Finance Documents that are due and payable
have been irrevocably paid in full.

 

		20.15	Environment and Social Risk Management

 

		(a)	Each Obligor shall (and the Borrower shall ensure that each member of the Group will):

 

		(i)	comply with all Environment and Social Risk Management Laws applicable to it (including but not limited
to passing the environmental impact assessment, if applicable);

 

		(ii)	obtain, maintain and ensure compliance
with all Environment and Social Risk Management Permits required or necessary for its conduct of business; and

 

    
		45	FACILITY AGREEMENT

     

    

 

		(iii)	take all reasonable steps in anticipation of known or expected future changes to or obligations under
any Environment and Social Risk Management Law or Environment and Social Risk Management Permit,

 

where
failure to do so would have a Material Adverse Effect, and upon reasonable request of the Majority Lenders, the Obligors shall
provide the Lenders with such cooperation as reasonably requested and as permitted by the laws and regulations as soon as reasonably practicable,
so as to enable the Lenders to monitor the environmental and risk management of the Borrower, and shall provide the Finance Parties upon
the reasonable request of the Majority Lenders with such supporting documents relating to the foregoing as may be reasonably requested
by the Majority Lenders as soon as reasonably practicable.

 

		(b)	Any Obligor shall inform the Facility Agent in writing as soon as reasonably practicable upon becoming
aware of:

 

		(i)	any Environment and Social Risk Management Claim which has been commenced or is threatened against it
or any other member of the Group;

 

		(ii)	any circumstance which may interfere with the
compliance by it or any other member of the Group with the obligation to protect the environment; or

 

		(iii)	any facts or circumstances which will or may result in any Environment and Social Risk Management Claim
being commenced or threatened against it or any other member of the Group;

 

in each case of
(i) – (iii), which would reasonably be expected to result in a Material Adverse Effect.

 

		20.16	External investment

 

Without the prior written consent of
the Majority Lenders, the Borrower shall not make any external investment not related to its principal business which may result in any
Material Adverse Effect.

 

		20.17	Financial Indebtedness

 

Without
the prior written consent of the Majority Lenders, and subject to the provisions of relevant laws and regulations and requirement
of governmental authorities, the Borrower shall not incur or permit to remain outstanding any Financial Indebtedness, except for:

 

		(a)	the Loans hereunder;

 

		(b)	any loan provided to it by any of its shareholders or Affiliates that is subordinated to the Facility
hereunder;

 

		(c)	any Financial Indebtedness under, including any entrusted loan borrowed by the Borrower from, the cash
pool established by the Affiliates of the Borrower from time to time party thereto; but if any Event of Default occurs, the Borrower shall
not repay any such loan borrowed from such cash pool before it fully repays all the outstanding Loans hereunder;

 

		(d)	any newly raised project-based fixed asset loan or project financing by the Borrower to finance the acquisition,
construction or improvement of the Project, provided that the aggregate principal amount of such newly raised loan(s) incurred in
reliance on 

 

    
		46	FACILITY AGREEMENT

     

    

 

			this clause (d) and the Total Commitments shall not exceed (i) 80% of the Total Project Investment; or (ii) the
total loan amount recorded in the NDRC Filing in respect of the Project (which is lower); but in which case, the Borrower shall notify
the Facility Agent at least one month prior to it entering into any facility agreement in relation to such newly raised loan(s);

 

		(e)	any project-based fixed asset loan or project financing by the Borrower to finance the acquisition, construction
or improvement of any other project in the future other than the Project, provided that the aggregate principal amount of those loan(s) incurred
shall not exceed (i) 80% or any higher applicable maximum ratio (subject to the change of PRC laws and regulations) of the total
project investment as required by the PRC laws and regulations; or (ii) the total loan amount recorded in the NDRC filing in respect
of that project (which is lower); but in which case, the Borrower shall notify the Facility Agent at least one month prior to it entering
into any facility agreement in relation to such loan(s); or

 

		(f)	any working capital loan(s) by
the Borrower in the principal amount up to USD 100,000,000 or its equivalent currency after the Project is formally operated.

 

		20.18	Arm’s length basis

 

Each
Obligor shall not (and shall ensure that no member of the Group will) enter into any transaction with any person (other than with
a member of the Group) except on an arm’s length basis or otherwise in the ordinary course of business.

 

		20.19	Dividends

 

No Obligor shall
distribute or pay any dividend to its shareholders, if:

 

		(i)	any Event of Default or Potential Event of Default is continuing; or

 

		(ii)	the distribution or payment of such dividend will result in any Event of Default or Potential Event of
Default .

 

		20.20	Foreign Guarantee for Onshore Facility

 

The Borrower shall
ensure that:

 

		(a)	without prejudice to Clause 20.17 (Financial Indebtedness) of this Agreement, if the Borrower incurs any
borrowing (other than the WBND transaction under the Finance Documents) which also constitutes WBND transaction (the “New WBND”),
the Borrower shall inform the Facility Agent immediately after the incurrence of such borrowing under the New WBND, and if any security
under the New WBND is enforced, the Borrower shall not continue utilizing the remaining amount in the Facility until the subrogation foreign
debt under the New WBND has been irrevocably repaid in full. As long as the Total Commitments are fully withdrawn or as from the maturity
date of the Availability Period, the Borrower shall refrain from entering into any WBND transaction with the aggregate amount exceeding
the sum of the Borrower's then applicable total foreign debt amount minus the Total Commitments hereunder at such time;

 

		(b)	with respect to the WBND provided by the Guarantor under the Guarantee, the foreign debt registration
formalities will be performed with the relevant office of the State Administration of Foreign Exchange of China within fifteen (15) PRC
Business Days after the enforcement or realization of such guarantee;

 

    
		47	FACILITY AGREEMENT

     

    

 

		(c)	at the time of performing the foreign debt registration, the Borrower will ensure WBND Quota is sufficient
to perform the foreign debt registration under paragraph (b) above;

 

		(d)	immediately upon request by the Facility Agent, it will provide the Facility Agent with necessary information
and materials regarding the details of any WBND, breaches of contract under any offshore underlying transaction, foreign debt registration,
repayment of offshore debts, and other relevant matters in connection with its performance of the registration procedures for the offshore
guarantor or security provider under the other WBND. Such information and materials shall be true, accurate and complete; and

 

		(e)	it will take all necessary steps to ensure that the indebtedness to the Lenders hereunder is paid in full
in the currency in which it is payable.

 

For the purpose of this Clause, “WBND
Quota” means the limit on the external indebtedness of the Borrower arising from the performance of the WBND to the extent permitted
by the then applicable PRC laws and regulations.

 

		20.21	Cooperation obligation

 

If
the work of the Lenders such as payment management, post-loan management or other relevant inspection in respect of the Loans (including
an on-site inspection of any Obligor or other member of the Group and the engagement of qualified professionals to accompany them on such
inspection) requires the cooperation of, or provision of relevant information or materials by, the Obligors or other members of the Group,
the Obligors shall (and shall ensure that the other members of the Group will) provide support and cooperation and provide relevant information
or materials as the Lenders may reasonably request (through the Facility Agent), provided that such inspections by the Lenders shall not
disturb the normal operation of the Obligors and there shall not occur more than two of such inspections in any fiscal year of the Borrower.

 

		20.22	Use of Loan proceeds

 

The Borrower shall ensure that its use
of the Loan proceeds shall be in compliance with the requirements of relevant laws and regulations, and shall provide the Facility Agent
with supporting documents proving that its use of the Loan proceeds is in compliance with laws and regulations if the Facility Agent requires
so for the purpose of monitoring the use of the Loan proceeds pursuant to the laws, regulations or regulatory requirements.

 

		20.23	Implementation of FATCA

 

The Obligors shall ensure that none
of the members of the Group shall become a FATCA Foreign Financial Institution or a US Tax Obligor.

 

		20.24	Material Adverse Effect

 

Each
Obligor shall ensure that there will be no change having a Material Adverse Effect on the business, management and operation of the Group,
taken as a whole. The Borrower shall promptly notify the Facility Agent upon becoming aware of any such change or any litigation proceeding
or arbitration which may have Material Adverse Effect.

 

		20.25	The Project

 

		(a)	As used in this clause, “good industry practice” means the skill, prudence and practices
of operation that a skilled and experienced person engaged in the industry of the same

 

    
		48	FACILITY AGREEMENT

     

    

 

			type
as that of the Borrower is reasonably and ordinarily expected to apply under the same or similar circumstance.

 

		(b)	The Borrower shall operate and maintain the Project and all its assets,
or ensure that the Project and all its assets are operated and maintained, diligently in a safe,
efficient and professional manner in accordance with good industry practice.

 

		(c)	The Borrower shall ensure that it is at all times the sole legal owner of, and has good and marketable
title to, the Project.

 

		(d)	Subject to Article 20.7 (Negative pledge),
the Borrower shall ensure that no mortgage (including sub-ranking
mortgage or secondary mortgage) exists or shall be created, over any of the assets of the Project (whether land, construction-in-progress
or factory buildings after the construction being completed) without the prior written consent of all Lenders, other than the security
created or permitted under the Finance Documents.

 

		(e)	The Borrower shall ensure that it is at all times in compliance with the material covenants, conditions
and terms of all agreements to which it is a party and which is applicable to the Project, unless such failure to comply would not reasonably
likely result in a Material Adverse Effect.

 

		(f)	The Borrower shall ensure that the Project complies in all material respects with the applicable health,
safety, planning, construction and environmental laws and regulations.

 

		(g)	If any change of the real estate certificate, construction land planning permit, construction project
planning permit and construction commencement permit issued by the relevant authorities occurs, the Borrower shall promptly submit a copy
of the updated certificate or permit to the Facility Agent for record.

 

		(h)	Without the prior written consent of the Facility Agent (acting on the instruction of the Majority Lenders),
the Borrower shall not reduce or cancel any of its paid-in registered capital before the completion acceptance filing of the Project is
obtained.

 

		(i)	The Borrower shall notify the Facility Agent in writing of its latest approved total project investment,
registered capital and paid-in registered capital on the date of expiration of each of the half-year periods after the date of this Agreement.

 

		20.26	Fixed asset loan compliance

 

The Borrower shall comply in all material
respects with the applicable laws and regulations, including, without limitation, that the Borrower shall ensure that:

 

		(a)	the development, construction and/or (as the case may be) operation of the Project for which the Loans
will comply with the applicable laws and regulations concerning industry, land, environment protection, etc., and all the administrative
formalities (if applicable) necessary for a fixed asset investment project have been completed in accordance with the laws;

 

		(b)	the capital invested in the Project complies with the applicable capital requirements for fixed asset
investments (including without limitation the requirement on the minimum percentage of capital);

 

    
		49	FACILITY AGREEMENT

     

    

 

		(c)	all material approvals, permits, Authorisations and licenses in connection with the Project shall be and
remain in full force and effect; and

 

		(d)	the Borrower and the Project shall fully comply with any restriction and requirement under relevant approvals,
permits, Authorisations and licenses, and no event, condition or step that may affect the validity or effectiveness of, or require the
modification or adjustment of, such approvals, permits, Authorisations and licenses has occurred or been taken.

 

		20.27	Repayment Reserve Account

 

The
Borrower shall designate the Repayment Reserve Account as its account for collecting 80% of all account receivables related to sales of
products, and provide the Facility Agent with the statements in respect of other account related to the receivables of the Project as
reasonably requested by the Lenders (through the Facility Agent). If the Borrower fails to repay in time any amount due and payable
under the Finance Documents, the Borrower hereby irrevocably authorizes the Facility Agent to withdraw from the Repayment Reserve Account
relevant amount and use such amount towards repaying or setting off the obligations due and payable by the Borrower under the Finance
Documents.

 

		20.28	Regulation of the Loan

 

The Borrower undertakes that it will
follow all relevant laws and regulations issued by the China Banking and Insurance Regulatory Commission (formerly the China Banking Regulatory
Commission) in relation to the loan business and perform all necessary obligations to comply with the provisions related to this loan
in the regulations including but not limited to Interim Measures for the Administration of Fixed Assets Loans issued on July 23,
2009

 

		20.29	Sanctions

 

The Borrower shall not, directly or
indirectly, use the proceeds of the Loans, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture
partner or other Person, (i) to fund, finance or facilitate any activities or business of or with any Person, or in any country or
territory, that, at the time of such funding, financing or facilitation is the target of Sanctions or in any way that is not in line with
applicable export control regulations, except to the extent permitted for a Person required to comply with Sanctions, or (ii) in
any other manner that would result in a violation of Sanctions or applicable export control regulations, by any Person (including any
Person participating in the Loans, whether as administrative agent, arranger, issuing bank, advisor, investor or otherwise).

 

		20.30	anti-bribery

 

		(a)	None of the Obligor, nor to the knowledge of the Obligor, any director, officer, agent, employee, Affiliate
or other person acting on behalf of the Borrower or any of its Subsidiaries is aware of or has taken any action, directly or indirectly,
that would result in a violation by such persons of any applicable anti-bribery law, including, without limitation, the United Kingdom
Bribery Act 2010 (the "UK Bribery Act") and the US Foreign Corrupt Practices Act of 1977 (the "FCPA").

 

		(b)	The Obligor and, to the knowledge of the Obligor, its Affiliates have conducted their businesses in compliance
with the UK Bribery Act, the FCPA and similar laws, rules or regulations and have instituted and maintain policies and procedures
designed to

 

    
		50	FACILITY AGREEMENT

     

    

 

			ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.

 

		(c)	The Obligor shall ensure that no proceeds shall be directly or, to its knowledge, indirectly used for
any payment, offer, promise to pay or authorization of payment or giving of money or anything else of value, to any Person that result
in a violation of any applicable anti-bribery or anti-corruption laws.

 

		20.31	Anti-Money Laundering and anti-corruption

 

		(a)	The operations of the Borrower and its Subsidiaries and their Affiliates are and have been conducted at
all times in material compliance with applicable financial recordkeeping and reporting requirements and the money laundering statutes
and the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced
by any governmental agency having jurisdiction over the Borrower or any of its other Subsidiaries or their respective Affiliates (collectively,
the "Money Laundering Laws") and no action, suit or proceeding by or before any court or governmental agency, authority
or body or any arbitrator involving the Borrower or any of its other Subsidiaries or their respective Affiliates with respect to the Money
Laundering Laws is pending or, to the best knowledge of the Borrower, threatened in writing.

 

		(b)	The Borrower shall ensure that each member of the Group will comply with all the Money Laundering Laws
and anti-corruption laws.

 

		20.32	Connected transactions

 

The
Borrower shall promptly inform the Facility Agent of the Borrower’s inter-group connected transactions not in the ordinary course
of business and with an aggregate value no less than 10 percent of the then value of the Borrower’s net assets, including but not
limited to (a) the relationship with the relevant parties in such connected transaction; (b) the transaction project
and its nature; (c) transaction amount or the corresponding proportion; (d) scale and pricing policy of such inter-group connected
transactions (including transactions with no amount or only has a nominal amount) and (e) any other documents reasonably requested
by the Facility Agent. The Borrower shall not arbitrage bank loans or credits or evade their debts by taking advantage of connected transactions.

 

		20.33	Compliance actions

 

Each Obligor acknowledges and agrees
that:

 

		(a)	each of the Finance Parties
and their group members is required to comply with the laws and regulations and requirements of public regulatory agencies of multiple
jurisdictions, including laws, regulations and requirements related to the (i) prevention of money laundering, terrorist financing,
corruption, tax evasion and providing financing or other services to persons or entities that may be subject to economic or trade sanctions;
or (ii) investigating, prosecuting, or exercising rights due to any person’s violation of any laws and regulations;

 

		(b)	each Finance Party may take and may instruct its group member to take actions it deems appropriate in
its full discretion (“Compliance Actions”) to prevent or investigate criminal acts or potential violations of sanction
regimes, or to comply with relevant laws, 

 

    
		51	FACILITY AGREEMENT

     

    

 

			regulations,
sanction regimes, international standards, relevant Finance Party’s group procedures and/or instructions from public, regulatory
or industry groups related to any group member of the Finance Party. Such Compliance Actions include interception and investigation of
any payments, communications or instructions; further inquiries on whether individuals or entities are subject to sanction regimes;

 

		(c)	the Finance Parties and any their group member shall not be liable to the Obligor for (i) any action
undertook or incurred, wholly or partly due to non-performance of any obligation under the Finance Documents of the Finance Party, or
(ii) any loss or delay (including direct or indirect loss, or loss of income, data or profit) caused by any actions in accordance
with the Compliance Actions of the Finance Parties or their group members, in each case, other than as a result of the gross negligence
or willful misconduct of a Finance Party.

 

		20.34	US Person

 

		(a)	If the Borrower is a US person and wants to transfer any proceeds of the Loan obtained from the Lenders
to the United States by remittance, transfer or any other form (except for the fulfilment of payment or other obligations under trade
transactions), it shall obtain the Lenders’ prior consent. The Lenders have the authority to decide independently whether to agree
or not.

 

		(b)	For the purpose of this Agreement, the Borrower will be deemed as a US person under the circumstances
where:

 

		(i)	the Borrower’s registered place, main business place, and/or the location of the mailing address
reserved by the Lenders is in the United States; and

 

		(ii)	any agent of the Borrower: (A) in case of a natural person, is a US citizen or US resident (including
but not limited to US Permanent Residents) and/or any residential address/correspondence address reserved by the Lenders is in the United
States; (B) in case of an entity, its registered place, main business place and/or mailing address reserved by the Lenders is in
the United States. The Borrower’s agent includes but not limited to the real estate or trust executor or manager, liquidator, trustee,
fiduciary, appointee, signatory, or person acting on behalf of the Borrower in accordance with the authorization letter issued by the
Borrower.

 

		21.	EVENTS OF DEFAULT

 

Each of the events or circumstances
set out in this Clause 21 (other than Clause 21.20 (Acceleration)) is an Event of Default.

 

		21.1	Non-payment

 

An Obligor does not pay any principal
on the due date or any interest or other amount payable pursuant to a Finance Document at the place at and in the currency in which it
is expressed to be payable unless its failure to pay is caused by technical error and/or the payment is made within 3 Business Days of
its due date.

 

    
		52	FACILITY AGREEMENT

     

    

 

		21.2	Financial covenants

 

Any
requirement of Clause 19 (Financial Covenants) is not satisfied; provided that, no Event of Default shall occur under this clause
21.2 to the extent the Borrower is attempting to amend this Agreement if required by clause 19, but is unable to do so because the Facility
Agent or a Lender requested a stricter financial covenants thereunder and it causes a delay in execution or negotiation by the Facility
Agent or such Lender, but at any time the Borrower
shall ensure the financial covenants to be added or amended is not inferior to the agreed condition in the Guarantor’s Existing
Credit Agreement.

 

		21.3	Other obligations

 

		(a)	An Obligor does not comply with any provision of the Finance Documents (other than (i) those referred
to in Clause 21.3(b), and (ii) Clause 18.6, 21.1 and 21.2 ), and such failure is not capable of remedy or could not be remedied within
30 days after (i) receipt by such Obligor of notice of such failure by the Facility Agent or (ii) it
becoming aware of the failure to comply (whichever is earlier).

 

		(b)	An Obligor does not comply with Clause 3 (Loan Purpose), Clause 5.5(c) (Loan Disbursement
and Purpose), Clause 20.17(d) or Clause 20.29 (Sanctions).

 

		21.4	Misrepresentation

 

Any representation or statement made
or deemed to be made by an Obligor in the Finance Documents or any other document delivered by or on behalf of any Obligor under or in
connection with any Finance Document is or proves to have been incorrect or misleading in any material respect when made or deemed to
be made.

 

	21.5	Cross acceleration

 

If any of following
situation occurs, the Loans under this Agreement will be due and payable under cross acceleration:

 

		(a)	The Guarantor’s Existing Credit Agreement is declared to be or otherwise becomes due and payable
prior to its specified maturity as a result of an event of default (as described therein).

 

		(b)	Solely if the Guarantor’s Existing Credit Agreement is terminated
and not replaced, any Financial Indebtedness of the Guarantor in an aggregate amount in excess of
USD 200,000,000 is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default
(as described herein).

 

		21.6	Insolvency

 

		(a)	Any Obligor or any member of the Group is or admits inability to pay its debts as they fall due or generally
suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with
one or more of its creditors (excluding any Finance Party in its capacity as such) with a view to rescheduling any of its indebtedness.

 

		(b)	The value of the assets of the Obligor and the other members of the Group, taken as a whole, are less
than their liabilities (taking into account contingent and prospective liabilities).

 

		(c)	A moratorium is declared in respect of any indebtedness of any Obligor or any member of the Group.

 

    
		53	FACILITY AGREEMENT

     

    

 

21.7        Insolvency
proceedings

 

Any corporate action, legal proceedings
or other procedure or step is taken in relation to:

 

		(a)	the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration,
provisional supervision or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of the Guarantor or any
member of the Group other than a solvent liquidation or reorganisation of the Guarantor or any member of the Group;

 

		(b)	a composition, assignment or arrangement with any creditor of the Guarantor or any member of the Group;

 

		(c)	the appointment of a liquidator (other than in respect of a solvent liquidation of the Guarantor or any
member of the Group), receiver, administrator, administrative receiver, compulsory manager, provisional supervisor or other similar officer
in respect of the Guarantor or any member of the Group; or

 

		(d)	enforcement of any Security over any assets of the Guarantor or any member of the Group;

 

or any analogous procedure or step is
taken in any jurisdiction; and, paragraph (a) above shall not apply to any winding-up petition which is frivolous or vexatious and
is discharged, stayed or dismissed within thirty (30) days of commencement.

 

		21.8	Litigation process

 

Any
litigation procedure has been brought against any member of the Group, and such member of the Group is not appealing such judgment or
decision and fails to make corresponding payment in accordance with the effective litigation judgment or decision, and the amount payable
by that member of the Group according to the judgment or decision is not less than RMB 50,000,000 or any other litigation process which
has a Material Adverse Effect to any member of the Group has occurred.

 

		21.9	Unlawfulness or unenforceability

 

It is or becomes unlawful for an Obligor
to perform any of its obligations under the Finance Documents.

 

		21.10	Non-compliance with law

 

Any member of the Group fails to comply
with any applicable laws (including but not limited to Environmental and Social Risk Management Laws), and has a Material Adverse Effect.

 

		21.11	Repudiation

 

An Obligor repudiates a Finance Document
or evidences an intention to repudiate a Finance Document.

 

		21.12	Security

 

The Guarantee is
not in full force and effect or does not create in favour of the Facility Agent (on behalf of all the Lenders) the security which it is
expressed to create, fully perfected and with the ranking and priority it is expressed to have.

 

    
		54	FACILITY AGREEMENT

     

    

 

		21.13	Change of control

 

The Guarantor no longer directly or
indirectly holds 65 percent of the equity of the Borrower, or no longer maintains control over the Borrower.

 

		21.14	Material adverse effect

 

Any
event or series of events occurs which, as determined by the Majority Lenders reasonably, has or is likely to have a Material Adverse
Effect.

 

		21.15	Acceleration

 

On and at any time after an Event of
Default has occurred and is continuing, the Facility Agent may, and shall if so directed by the Majority Lenders, by notice to the Borrower:

 

		(a)	cancel the Commitments, whereupon they shall immediately be cancelled;

 

		(b)	declare that all or part of the Loans, together with accrued interest, and all other amounts accrued or
outstanding under the Finance Documents be immediately due and payable, whereupon they shall become immediately due and payable;

 

		(c)	declare that all or part of the Loans be payable on demand, whereupon they shall immediately become payable
on demand by the Facility Agent on the instructions of the Majority Lenders.

 

SECTION 8

 

Changes
to the Parties

 

		22.	Changes to the Lenders

 

		22.1	Transfers by the Lenders

 

Subject to this Clause 22, a Lender
(the “Existing Lender”) may transfer by novation all or (to the extent permitted by applicable laws and regulations)
any of its rights and/or obligations to another bank or financial institution or to a trust, fund or other entity which is regularly engaged
in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (the “New
Lender”), provided that such transfers shall be, in any event, complied with this Clause 22 (Changes to the Lenders);
provided further that, other than in the case of (i) an assignment to an Existing Lender or an Affiliate of an Existing Lender or
(ii) the occurrence of any Event of Default, the Borrower shall have provided consent thereto. In any case a consent is required,
the Borrower shall have deemed to have consented unless it objects in writing within ten (10) Business Days following written notification
by the Facility Agent.

 

		22.2	Conditions of assignment or transfer

 

		(a)	A Lender may transfer all or (to the extent permitted by applicable laws and regulations) any part of
its rights and/or obligations under this Agreement to the New Lender in accordance with above Clause 22.1 (Transfers by the Lenders),
provided that such transfer shall be notified to other Lenders and the Borrower under this Agreement thirty (30) days in advance and the
Facility Agent shall be copied in. The other Lenders shall have the right of first refusal on such transfer of the rights and/or obligations
under the same conditions. To the extent permitted by applicable laws and regulations, if the Existing Lender transfers all or any part
of its rights and/or 

 

    
		55	FACILITY AGREEMENT

     

    

 

			obligations under this Agreement to its Affiliate,
the other Lenders agree to give up the right of first refusal. The Facility Agent shall give prior notice of such transfers by the Lenders
to the Borrower.

 

		(b)	Subject to paragraph (a) above, within thirty (30) days from the date when the Existing Lender gives
notice of such transfer, the relevant Lenders shall notify the Existing Lender (and copy in the Facility Agent) to exercise or waive its
right of first refusal. If the relevant Lenders fail to notify the Existing Lender within the above-mentioned period, it shall be deemed
that such Lenders have waived their rights of first refusal. Notwithstanding the foregoing provisions, each Lender agrees that if any
Lender intends to transfer all or any part of its rights and/or obligations under this Agreement to its Affiliate in accordance with the
with above Clause 22.1 (Transfers by the Lenders), the other Lenders shall be deemed to have waived the right of first refusal
on the date upon receipt of such notice.

 

		(c)	A transfer will be effective only if the Facility Agent receives a written confirmation letter (in form
and substance satisfactory to the Facility Agent) by the Existing Lender and the New Lender, and such confirmation letter confirms that
the New Lender shall assume the same obligations to other Finance Parties as if it were the Original Lender.

 

		(d)	A transfer will be effective only if the procedures set out in Clause 22.5 (Procedure for transfer)
is complied with.

 

		(e)	If:

 

		(i)	a Lender transfers all or any of its rights and/or obligations under the Finance Documents or changes
its Facility Office; and

 

		(ii)	as a result of the circumstances existing at the date of the transfer or change occurs, an Obligor would
be obliged to make a payment to the New Lender or Lender acting through its new Facility Office in accordance with Clause 12 (Tax Gross-up
and Indemnities) or Clause 13 (Increased Costs).

 

then the New Lender or Lender acting through
its new Facility Office is only entitled to receive payment in accordance with the above Clauses to the same extent that the Existing
Lender or Lender acting through its previous Facility Office would have been if the transfer or change had not occurred.

 

		(f)	The Facility Agent shall upon the Borrower’s request forward the scanned copy of the relevant Transfer
Certificate to the Borrower for reference.

 

		(g)	The Facility Agent shall maintain a register for the recordation of the names and addresses of the Lenders,
and the principal amounts of (and stated interest on) relevant Loans owing to Lenders pursuant to the terms hereof from time to time.

 

		22.3	Transfer fee

 

The New Lender shall, on or before the
date upon delivery of a completed Transfer Certificate to the Facility Agent in accordance with Clause 22.5 (Procedure for transfer),
pay to the Facility Agent (for its own account) a fee of RMB 20,000 (excluding any form of deductions or withholdings).

 

    
		56	FACILITY AGREEMENT

     

    

 

		22.4	Limitation of responsibility of Existing Lenders

 

		(a)	Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes
no responsibility to a New Lender and an Increase Lender for:

 

		(i)	the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other
documents;

 

		(ii)	the financial condition of any Obligor;

 

		(iii)	the performance and observance by any Obligor of its obligations under the Finance Documents or any other
documents; or

 

		(iv)	the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document
or any other document,

 

and any representations or warranties
implied by law are excluded.

 

		(b)	Each New Lender and Increase Lender confirms to the Existing Lender and the other Finance Parties that
it:

 

		(i)	has made (and shall continue to make) its own independent investigation and assessment of the financial
condition and affairs of each Obligor and its Affiliates in connection with its participation in this Agreement and has not relied exclusively
on any information provided to it by the Existing Lender in connection with any Finance Document; and

 

		(ii)	will continue to make its own independent appraisal of the creditworthiness of each Obligor and its Affiliates
whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force.

 

		(c)	Nothing in any Finance Document obliges an Existing Lender to:

 

		(i)	accept a re-transfer from a New Lender of any of the rights and obligations transferred under this Clause
22; or

 

		(ii)	support or undertake any losses directly or indirectly incurred by the New Lender and Increase Lender
by reason of the non-performance by any Obligor of its obligations under the Finance Documents or otherwise.

 

		22.5	Procedure for transfer

 

		(a)	Subject to the conditions set out in Clause 22.2 (Conditions of transfer), a transfer is effected
in accordance with paragraph (b) below when the Facility Agent executes, five (5) Business Days in advance to the Transfer Date
(or such shorter period as the Facility Agent may agree), an otherwise duly completed Transfer Certificate (in triplicate) delivered to
it by the Existing Lender and the New Lender. The Facility Agent shall as soon as reasonably practicable after receipt by it of a duly
completed Transfer Certificate appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms
of this Agreement, execute that Transfer Certificate. The Facility Agent shall, within three (3) Business Days from the execution
of the Transfer Certificate, provide the Borrower with a certified true copy of the executed Transfer Certificate.

 

		(b)	The Facility Agent shall not be obliged to execute a Transfer Certificate delivered to it by the Existing
Lender and the New Lender unless it is required by the PRC laws and

 

    
		57	FACILITY AGREEMENT

     

    

 

			 regulations or the requirements of regulatory authorities applicable
to the Facility Agent that it shall conduct “know your customer” and other similar procedures in relation to the transfer
to such New Lender and the Facility Agent has completed all “know your customer” and other similar procedures that are required
by the PRC laws and regulations or the requirements of regulatory authorities (the aforesaid procedures shall be completed no later than
the Transfer Date). The Facility Agent shall not refuse to execute such Transfer Certificate without any rational reason.

 

		(c)	On the Transfer Date:

 

		(i)	to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by novation its rights
and/or obligations under the Finance Documents each of the Obligors and the Existing Lender shall be released from further obligations
towards one another under the Finance Documents and their respective rights against one another under the Finance Documents shall be cancelled
(being the “Discharged Rights and Obligations”);

 

		(ii)	each of the Obligors and the New Lender shall assume obligations towards one another and/or acquire rights
against one another which differ from the Discharged Rights and Obligations only insofar as that Transaction Obligor and the New Lender
have assumed and/or acquired the same in place of that Obligor and the Existing Lender;

 

		(iii)	the Facility Agent, the Mandated Lead Arranger, the New Lender and other Lenders shall acquire the same
rights and assume the same obligations between themselves as they would have acquired and assumed had the New Lender been an Original
Lender with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the Facility Agent,
the Mandated Lead Arranger and the Existing Lender shall each be released from further obligations to each other under this Agreement;
and

 

		(iv)	the New Lender shall become a Party as a “Lender”.

 

		22.6	Disclosure of Information

 

Any Finance Party may disclose any information
relating to the Obligor, the Group, other Finance Parties and the Finance Documents to parties listed in paragraphs (a) to (h) below:

 

		(a)	any of its Affiliates, its representative office and its head office and any other subsidiary/branch in
any country or region (the “Licensee”);

 

		(b)	any executives, employees, directors, staff, professional advisers, auditors, partners, representatives
and service providers of such Finance Party and the Licensee on a need to know basis that undertakes duty of confidentiality to such Finance
Party and the Licensee;

 

		(c)	any credit rating agency, insurer or insurance broker of, or direct or indirect provider of credit protection
to, such Finance Party and the Licensee;

 

		(d)	any court or tribunal, or a department or stock exchange with regulatory, supervision, administrative
or quasi-administrative power with jurisdiction over the Finance Party and the Licensee; provided that, to the extent such Finance Party
is legally permissible and practical, such Finance Party will provide written notice to the Borrower of such disclosure and the nature
and details thereof;

 

    
		58	FACILITY AGREEMENT

     

    

 

 

		(e)	any other Finance Party;

 

		(f)	any other actual or potential persons listed below or their Affiliates, agents or professional consultants:

 

		(i)	Such Finance Party intends to transfer (or possibly transfer) all or any of its rights and/or obligations
under this Agreement to the person (or through the person);

 

		(ii)	Such Finance Party intends to enter into (or possibly enter into) any subcontracting with the person (or
through the person) in relation to this Agreement or the Borrower, or engage or enter into any other transactions that will make payment
with reference to this Agreement or the Borrower;

 

		(iii)	So long as in the case of (i) and (ii) above, the information is required to be disclosed to
the person, such person undertakes the duty of confidentiality and such information is within the scope in accordance with any applicable
laws and regulations; or

 

		(g)	Any other persons agreed in writing by the Borrower or other Finance Party (as the case may be).

 

Under
the premise of not violating relevant laws and regulations, and without prejudice to any other agreement between the Lenders and the Obligor,
each Obligor agrees to provide to the Lenders and the Facility Agent personal data of, including its shareholders and beneficial owners
in accordance with the reasonable requirements of any Lender or the Facility Agent; and the Obligor confirms that it legally provide information
for the use and disclosure of Finance Party under the following purposes: (i) to provide products or services to the Obligor; (ii) to
meet the Lenders’ operational, administrative or risk management requirements; and (iii) to comply with any legal requirements
or request of any court, government agency or regulatory agency that reasonably deemed necessary by the Finance Party.. Any consents related
to personal data made upon this Clause shall continue to be effective after any such person's civil capacity is restricted or forfeited,
or any commitment amount and/or any commercial relationship between the Obligor and the Finance Party is cancelled, terminated or repaid.

 

The
Obligors authorise the Facility Agent and each Finance Party to, under the premise of not violating relevant laws and regulations, collect,
use and disclose confidential information (including the personal data) about each of the Obligors and Finance Parties or individuals
relating to each of the Obligors and/or Finance Parties, so that the Facility Agent and each Finance Party can carry out its obligations
to the Obligors and/or, as the case may be, for other related purposes, including auditing, monitoring and analysis of its business, fraud
and crime prevention, money laundering and legal and regulatory compliance. Subject to any applicable law and regulations in relation
to personal information in PRC, the Lenders and the Facility Agent may also transfer the confidential information (including personal
data) to any country to process information. Wherever it is processed, the personal data will be protected by security measures and a
degree of care to which all members of each Finance Party and their staff are subject and will only be used in accordance with this Agreement.
Any consent related to personal data made upon this Clause shall continue to be effective after death, incapacity, bankruptcy or insolvency
of such person, and after any commitment amount and/or any commercial relationship between the Obligor and/or the Finance Party is cancelled,
terminated or repaid.

 

    
		59	FACILITY AGREEMENT

     

    

 

		22.7	Authorization to the Facility Agent

 

Upon
confirmation by the Borrower to the Finance Party for each transfer request, the Borrower authorizes the Facility Agent to sign the Transfer
Certificate on its behalf to indicate its consent to the proposed transfer. Each Obligor and any other Finance Party (except the Lender
who intend to transfer and the New Lender) irrevocably authorizes the Facility Agent to sign the Transfer Certificate on its behalf
to indicate its consent to the proposed transfer.

 

		22.8	Exclusion of Facility Agent’s liability

 

In relation to any transfer pursuant
to this Clause 22 (Changes to Lenders), each Party acknowledges and agrees that the Facility Agent shall not be obliged to enquire
as to the accuracy of any representation or warranty made by a New Lender in respect of its eligibility as a Lender.

 

		22.9	Universal Succession

 

If a Lender is to be merged with any
other person by universal succession, such Lender shall, at its own cost and within forty-five (45) days of that merger, deliver to the
Facility Agent:

 

		(a)	an original or certified true copy of a legal opinion issued by a qualified legal counsel practicing law
in its jurisdiction of incorporation confirming that all such Lender’s assets, rights and obligations generally have been duly vested
in the succeeding entity who has succeeded to all relationships as if those assets, rights and obligations had been originally acquired,
incurred or entered into by the succeeding entity; and

 

		(b)	an original or certified true copy of a written confirmation by either the Lenders’ legal counsel
or such other legal counsel acceptable to the Facility Agent and for the benefit of the Facility Agent (in its capacity as agent of the
Lenders), confirming that the laws of the People’s Republic of China and of the jurisdiction in which the lending office of such
Lender is located recognise such merger by universal succession under the relevant foreign laws.

 

whereupon a transfer and novation of
all such Lender’s assets, rights and obligations to its succeeding entity shall have been, or be deemed to have been, duly effected
as at the date of the said merger.

 

If such Lender, in a universal succession,
does not comply with the requirements under this Clause 22.9, the Facility Agent has the right to decline to recognise the succeeding
entity and demand such Lender and the succeeding entity to either sign and deliver a Transfer Certificate to the Facility Agent evidencing
the transfer of all rights and obligations of such Lender to that succeeding entity, or provide or enter into such documents, or make
such arrangements acceptable to the Facility Agent (acting on the advice of the Lender’s legal counsel and any legal costs so incurred
shall be borne by the relevant Lender) in order to evidence that all rights and obligations of the relevant Lender under this Agreement
have been transferred to the succeeding entity.

 

		23.	Changes to the Obligors

 

No Obligor may assign any of its rights
or transfer any of its rights or obligations under this Agreement.

 

    
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SECTION 9

 

the
Finance Parties

 

		24.	Role of the Facility Agent and Mandated Lead Arranger

 

		24.1	Appointment of the Facility Agent

 

		(a)	Each of the Finance Party appoints the Facility Agent to act as its agent under and in connection with
the Finance Documents.

 

		(b)	The other Finance Parties authorise the Facility Agent to perform the rights, powers, authorities and
discretions specifically given to the Facility Agent under or in connection with the Finance Documents together with any other incidental
rights, powers, authorities and discretions.

 

		24.2	Duties of the Facility Agent

 

		(a)	The Facility Agent shall promptly forward to a Party a copy of any document (other than the Transfer Certificate)
which is delivered to the Facility Agent for that Party by any other Party.

 

		(b)	The Facility Agent is not obliged to review or check the adequacy, accuracy or completeness of any document
it forwards to another Party.

 

		(c)	If the Facility Agent receives notice from a Party referring to this Agreement, describing a Default and
stating that the circumstance described is a Default, it shall promptly notify the other Finance Parties.

 

		(d)	If the Facility Agent is aware of the non-payment of any principal, interest, or other fee payable to
a Finance Party under this Agreement, it shall promptly notify the other Finance Parties.

 

		(e)	The Facility Agent shall, upon reasonable request of other Finance Party, request the Borrower to provide
the information specified in Article 18.4 (Information: Other Provisions) of this Agreement.

 

		24.3	No Duty to Monitor

 

The responsibilities of the Facility
Agent under the Finance Documents are only operational and administrative, except as specifically provided in the Finance Documents in
which it is a Party, the Facility Agent has no other obligations, including but not limited to the Facility Agent shall not be bound to
enquire or investigate:

 

		(a)	whether or not any Default has occurred;

 

		(b)	as to the performance, default or any breach by any Party of its obligations under any Finance Document;
or

 

		(c)	whether any other event specified in any Finance Document has occurred.

 

		24.4	Role of the Mandated Lead Arranger

 

Except as specifically provided in the
Finance Documents, the Mandated Lead Arranger has no obligations of any kind to any other Party under or in connection with any Finance
Document.

 

    
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		24.5	No Fiduciary Duties

 

		(a)	Nothing in this Agreement constitutes the Facility Agent or Mandated Lead Arranger as a trustee or fiduciary
of any other person.

 

		(b)	No Facility Agent and Mandated Lead Arranger shall be bound to account to any Lender for any sum or the
profit element of any sum received by it for its own account

 

		(c)	For any payment that the Facility Agent receives from any person and is paid to it for the purpose of
this Agreement, the Facility Agent may deal with the above payment in accordance with the banks disposal of the money that receives from
its customers under normal circumstances, but the Facility Agent does not need to pay interest to any person for these payments.

 

		24.6	Business with the Group

 

The Facility Agent and the Mandated
Lead Arranger may accept deposits from, lend money to and generally engage in any kind of banking or other business with any Group Members.

 

		24.7	Rights and Discretions

 

		(a)	The Facility Agent may rely on:

 

		(i)	any representation, notice or document believed by it to be genuine, correct and appropriately authorised
and is not responsible for verifying any signature on any document; and

 

		(ii)	Any statement made and can be reasonably assumed to be within the knowledge or to be provable within the
capacity of any Party’s director, authorized signatory or employee.

 

		(b)	The Facility Agent may assume (unless the Facility Agent has received notice to the contrary in its capacity
as agent for the Finance Parties) that:

 

		(i)	no Default has occurred (unless the Facility Agent has actual knowledge of a Default arising under Clause
21.1 (Non-payment))

 

		(ii)	any right, power, authority or discretion vested in any Party or the Majority Lenders has not been exercised.

 

		(c)	The Facility Agent may engage, pay for and rely on the advice or services of any lawyers, accountants,
surveyors or other experts.

 

		(d)	The Facility Agent may act in relation to the Finance Documents through its officers, employees.

 

		(e)	The Facility Agent may disclose to any other Party any information it has received as agent under this
Agreement.

 

		(f)	Notwithstanding any other provision of any Finance Document to the contrary, the Facility Agent or the
Mandated Lead Arranger is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach
of any law or regulation or a breach of a fiduciary duty or duty of confidentiality.

 

    
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		24.8	Majority Lenders instructions

 

		(a)	Unless a contrary indication appears in a Finance Document, the Facility Agent shall (i) exercise
any right, power, authority or discretion vested in it as Facility Agent in accordance with any instructions given to it by the Majority
Lenders (or, if so instructed by the Majority Lenders, refrain from exercising any right, power, authority or discretion vested in it
as the Facility Agent) , (ii) be entitled to assume that the Majority Lenders have appropriately made such instructions in accordance
with the provisions of the Finance Documents and unless a clear notice of cancellation is received, the instructions have not been cancelled
when they are received by the Facility Agent and (iii) not be liable for any act (or omission) if it acts (or refrains from taking
any action) in accordance with an instruction of the Majority Lenders.

 

		(b)	Unless a contrary indication appears in a Finance Document, any instructions given by the Majority Lenders
will be binding on all the Finance Parties.

 

		(c)	As to whether (and in which form) to exercise or not exercise any instructions given to it as the Facility
Agent by the Majority Lenders for any rights, powers, authority or discretion, the Facility Agent may require the Majority Lenders to
give further clarification or explanation. The Facility Agent may refrain from acting in accordance with the instructions of the Majority
Lenders or under paragraph (e) below until it has received such clarification or explanation.

 

		(d)	The Facility Agent may refrain from acting in accordance with the instructions of the Majority Lenders
or under paragraph (e) below until it has received such security as it may require for any cost, loss or liability (together with
any associated indirect tax) which it may incur in complying with the instructions.

 

		(e)	In the absence of instructions from the Majority Lenders, the Facility Agent may act or refrain from acting
as it considers to be in the proper manner.

 

		(f)	None of the Facility Agent is authorised (without first obtaining a Lender’s consent) to act on
behalf of that Lender in any legal or arbitration proceedings relating to any Finance Document.

 

		24.9	Responsibility for documentation

 

Neither the Facility Agent nor the Mandated
Lead Arranger is responsible or liable for:

 

		(a)	the adequacy, accuracy and/or completeness of any information (whether oral or written) supplied by the
Facility Agent, the Mandated Lead Arranger, the Borrower or any other person given in or in connection with any Finance Document or; or

 

		(b)	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document or any other
agreement, arrangement or document entered into, made or executed under, in anticipation of or in connection with any Finance Document.

 

		24.10	Exclusion of liability

 

		(a)	Without limiting paragraph (b) below and unless directly caused by its gross negligence or wilful
misconduct, the Facility Agent will not be liable for:

 

		(i)	any liability arising as a result of taking or not taking any action under or in connection with any Finance
Document (including but not limited to, the Facility Agent will transfer relevant loan funds and/or expenses base on the Finance Party’s
account information of the Lenders listed in Table B of Schedule 1 (or the other account information provided by the Lenders to the

 

    
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			 Facility
Agent in writing in three(3) Business Days in advance at any payment time of each Availability Period, each Repayment Date, Interest
Payment Date or etc.), if any fund fail to be paid into the account caused by incorrect account information provided by the Lender or
the Lender’s system of bank account, the Lender shall bear the corresponding responsibilities on its own and the Facility Agent
shall not bear any responsibility);

 

		(ii)	exercising, or not exercising, any decision, discretion or authority given to it under or in connection
with any Finance Document or any other agreements entered into, made or executed in anticipation of the Finance Documents; or in connection
with any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with, any
Finance Document;

 

		(iii)	(without prejudice to paragraphs (i) and (ii) above) any damages, costs or losses to any person,
any diminution in value or any liability (including negligence or any other category of liability, but not including any claim based on
the fraud of the Facility Agent) arising as a result of:(A) any
act, event or circumstance not reasonably within the control of the Facility Agent; or (B) the general risks of investment in, or
the holding of assets in, any jurisdiction, including but not limited to Clause 24.12 (Force majeure).

 

		(b)	No Party (other than the Facility Agent) may take any proceedings against any officer, employee or agent
of the Facility Agent in respect of any claim it might have against the Facility Agent or in respect of any act or omission of any kind
by that officer, employee or agent in relation to any Finance Document and any officer, employee or agent of the Facility Agent may rely
on this Clause.

 

		(c)	The Facility Agent will not be liable for any delay (or any related consequences) in crediting an account
with an amount required under the Finance Documents to be paid by the Facility Agent if the Facility Agent has taken all necessary steps
as soon as reasonably practicable to comply with the regulations or operating procedures of any recognised clearing or settlement system
used by the Facility Agent for that purpose.

 

		(d)	Nothing in this Agreement shall oblige the Facility Agent to conduct any “know your customer”
or other procedures in relation to any Lender. Each Lender confirms to the Facility Agent that it is solely responsible for any investigation
procedures it is required to conduct and that it shall not rely on any statement in relation to such procedures or check made by the Facility
Agent.

 

		(e)	The Facility Agent will not be liable for any check or investigation on the extent to whether there is
an event of default or a potential event of default.

 

		(f)	Unless the applicable laws and regulations have mandatory requirements, the Facility Agent will not be
liable for providing any certificates, documents or information required by any anti-money laundering investigation (except for information
related to itself). Any such certificates, documents or information shall be provided directly by the Borrower or the relevant Lenders,
although the Facility Agent may request for such certificates, documents or information.

 

		(g)	The Facility Agent will not be liable for the failure or delay to perform its obligations under the Finance
Documents of any other Party of the Finance Documents.

 

		(h)	The Facility Agent will not be liable for any diminution in value of the guaranteed debt (if any) arising
from the execution of any Finance Documents or the retention of any

 

    
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			rights under any Finance Documents.

 

		24.11	Lenders' indemnity to the Facility Agent

 

Each Lender shall (in proportion to
its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior
to their reduction to zero) indemnify the Facility Agent, within three (3) Business Days of demand, against any cost, loss or liability
(otherwise than by reason of the Facility Agent’s gross negligence or wilful misconduct) in acting as Facility Agent under the Finance
Documents (unless the Facility Agent has been reimbursed by an Obligor pursuant to a Finance Document).

 

		24.12	Resignation of the Facility Agent

 

		(a)	The Facility Agent may resign and appoint one of its Affiliates acting through an office in the place
where it located as successor by giving thirty (30) days’ written notice to the other Finance Parties and the Borrower.

 

		(b)	Alternatively, the Facility Agent may resign by giving thirty (30) days’ written notice to each
Lender and Borrower, in which case the Majority Lenders may appoint a successor Facility Agent; provided that, the Borrower shall consent
to such successor Facility Agent, such consent not to be unreasonably withheld or delayed.

 

		(c)	The retiring Facility Agent shall make available to the successor Facility Agent such documents and records
as the successor Facility Agent may reasonably request for the purposes of performing its functions as Facility Agent under the Finance
Documents.

 

		(d)	The Facility Agent's resignation notice takes effect on the 30 days after notice of resignation was given.
If the Majority Lenders have not appointed a successor Facility Agent in accordance with paragraph (b) above within 30 days after
notice of resignation was given, the resignation notice shall still take effect and the retiring Facility Agent may appoint a successor
Facility Agent, provided that unless the successor Facility Agent is an Affiliate of the retiring Facility Agent and/or an Event of Default
has occurred, the Borrower shall consent to the successor Facility Agent, such consent not to be unreasonably withheld or delayed.

 

		(e)	Upon the appointment of a successor, the retiring Facility Agent shall be discharged from any further
obligation in respect of the Finance Documents but shall remain entitled to the benefit of Clause 24. Any successor and each of the other
Parties shall have the same rights and obligations among themselves as they would have had if such successor had been an original Party.

 

		(f)	After consultation with the Borrower, the Majority Lenders may, by giving written notice to the Facility
Agent, require it to resign in accordance with paragraph (b) above by giving reasonable ground. In this event, the Facility Agent
shall resign in accordance with paragraph (b) above.

 

		(g)	All reasonable and documented costs and expenses related to the appointment of a successor Facility Agent
shall be borne by the Borrower (except for items of expenses that shall not be borne by the Borrower as expressly stipulated by laws,
regulations and provisions of the competent authority).

 

		(h)	If on or after the date which is three Months before the earliest FATCA Application Date relating to any
payment to the Facility Agent under the Finance Documents, the Facility Agent may resign in accordance with paragraph (b) above when:

 

    
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		(i)	the Facility Agent fails to respond to a request under Clause 12.6 (FATCA information) and the
Lender reasonably believes that the Facility Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA
Application Date

 

		(ii)	the information supplied by the Facility Agent pursuant to Clause 12.6 (FATCA information) indicates
that the Facility Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; or

 

		(iii)	the Facility Agent notifies the Borrower and the Lender that the Facility Agent will not be (or will have
ceased to be) a FATCA Exempt Party on or after that FATCA Application Date;

 

and (in each case) the Lender reasonably
believes that a Party will be required to make a FATCA Deduction that would not be required if the Facility Agent were a FATCA Exempt
Party, and that Lender, by notice to the Facility Agent, requires it to resign.

 

		24.13	Confidentiality

 

		(a)	In acting as Facility Agent for the Finance Parties, the Facility Agent shall be regarded as acting through
its agency division which shall be treated as a separate entity from any other of its divisions or departments.

 

		(b)	If information is received by another division or department of the Facility Agent, it may be treated
as confidential to that division or department and the Facility Agent shall not be deemed to have notice of it.

 

		(c)	Notwithstanding any other provision of any Finance Document to the contrary, the Facility Agent or the
Mandated Lead Arranger shall not be obliged to disclose to any person: (i) any confidential information, or (ii) any other information
that it reasonably believes that the relevant disclosure will or may result in a violation of any laws or regulations or any contractual
or fiduciary duties.

 

		24.14	Relationship with the Lender

 

Subject to Clause 27.2 (Distributions
by the Facility Agent), the Facility Agent may treat each Lender as the Lender is authorised to obtain proceeds in accordance with
this Agreement and can act through its Facility Office unless it has received not less than five (5) Business Days’ prior notice
from that Lender to the contrary in accordance with the terms of this Agreement.

 

		24.15	Credit appraisal by the Lenders

 

Without affecting the responsibility
of any Obligor for information supplied by it or on its behalf in connection with any Finance Document, each Lender confirms to the Facility
Agent and the Mandated Lead Arranger that it has been, and will continue to be, solely responsible for making its own independent appraisal
and investigation of all risks arising under or in connection with any Finance Document including but not limited to:

 

		(a)	the financial condition, status and nature of each member of the Group;

 

		(b)	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and any other
agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document;

 

		(c)	whether that Lender has recourse, and the nature and extent of that recourse, against any 

 

    
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			Finance Document,
the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed
in anticipation of, under or in connection with any Finance Document, Party or any of its respective assets under or in connection with
any Finance Document; and

 

		(d)	the adequacy, accuracy and/or completeness of any information provided by the Facility Agent, any Party
or by any other person under or in connection with any Finance Document, the transactions contemplated by any Finance Document or any
other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document.

 

		24.16	Deduction from amounts payable by the Facility Agent

 

		(a)	If any Party owes an amount to the Facility Agent under the Finance Documents the Facility Agent may,
after giving notice to that Party, deduct an amount not exceeding that amount from any payment to that Party which the Facility Agent
would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount
owed. For the purposes of the Finance Documents that Party shall be regarded as having received any amount so deducted.

 

		(b)	Any amount, remuneration or expenses that the Facility Agent shall receive by performing its duties as
a Facility Agent in accordance with the Finance Documents shall not be deducted by any amount, remuneration or benefit in other transactions
conducted by the Facility Agent (or its Affiliates) with each Finance Party or the Obligor.

 

		24.17	Disclaimer of consequential damages

 

Notwithstanding other provisions in
this Agreement, none of the Facility Agent, the Mandated Lead Arranger, or Finance Party and its Subsidiaries, Affiliates, senior officer,
directors or employees will be liable to the Obligor or the others’ specific, indirect, or punitive damages (including but not limited
to loss of profits, whether foreseeable or unforeseeable) pursuant to this Agreement and the transactions contemplated by this Agreement,
even if the Facility Agent is aware or informed of the possibility of such damages and regardless of whether any claims for those damages
are based on negligence, breach of contract, breach of trust, breach of fiduciary duty. Each parties to this Agreement waives, releases
and agrees not to commence any proceedings with respect to those liabilities, regardless of whether these responsibilities have occurred,
are known or suspected to exist. This Clause shall continue to be valid after the termination of this Agreement or the resignation of
the Facility Agent.

 

		24.18	Connected Transactions and Information Disclosure

 

		(a)	The Banking (Exposure Limits) Rules (Cap. 155S) and regulations in respect thereof in Hong Kong and
the CBRC Administration Rules on the Connected Transactions of Commercial Banks with Insiders and Shareholders (the “CBRC Rules”)
have imposed on each Finance Party certain limitations on advances to persons related to the HSBC Group or each Finance Party or advances
that are of the "connected transaction" nature. In entering into this Agreement, the Borrower shall advise the Facility Agent
whether the Borrower is in any way related or connected to the HSBC Group or each Finance Party or is otherwise a "connected party"
as defined in the CBRC Rules. In the absence of such advice, the Facility Agent will assume that the Borrower is not so related or connected.
If the Borrower becomes so related or connected subsequent to acknowledging this Agreement, it shall immediately advise the Facility Agent
in writing of the same.

 

"HSBC Group” means HSBC Holdings
plc, its subsidiaries, related bodies corporate, associated entities and undertakings and any of their branches and member or office of

 

    
		67	FACILITY AGREEMENT

     

    

 

the HSBC Group shall be construed accordingly.

 

		(b)	The Finance Party may provide to HSBC Group and any PRC domestic companies or entities in the group of
another Finance Party any information in respect with any account opened by the Borrower at the Finance Party and the credit of the Borrower
provided by the Finance Party or performance of such matters or other information relating the business relationship between the Borrower
and the Finance Party.

 

		24.19	Anti-money Laundering and Counter-terrorist Financing

 

		(a)	Upon the request of the Facility Agent, any Finance Party shall promptly provide the Facility Agent with
the documents and other supporting materials (or prompt such documents or supporting materials to be provided) as reasonably requested
by the Facility Agent for the purpose of conducting relevant investigations in accordance with any anti-money laundering laws or regulations
applicable to the Facility Agent or its Affiliates and the results of such investigations shall satisfy the Facility Agent. Each Finance
Party shall also be entitled to conduct such investigations at its sole discretion.

 

		(b)	Each Finance Party may independently take or appoint any representative to take measures that it deems
appropriate based on its absolute discretion to comply with any applicable laws and regulations, requirements of public institutions or
regulatory authorities or the policy of each Finance Party and HSBC Group relating the prevention of fraud, money laundering, terrorist
acts or other criminal acts or the financial services or other services provided to sanctioned individuals or entities. The measures may
include but are not limited to the interception and investigation of account transactions (especially those related to international fund
transfers), including the source of the fund in and out of the account or the intended recipient. Under certain circumstance, such measures
may delay or hinder the processing of instructions, the settlement of account transactions or the performance of obligations by each Finance
Party under the Finance Documents. If possible, each Finance Party will make it best effort to notify the relevant parties on the existing
of such situation. Each Finance Party or any of its representatives shall not in whole or in part be liable for any loss (whether direct
or indirect loss, including but not limited to the loss of profits of interests) arising from the measures taken by that Finance Party
or any of its representatives according to this clause. HSBC Group in this clause refers to HSBC Holdings plc and its Subsidiaries and
Affiliates.

 

		24.20	Force Majeure

 

Notwithstanding
the contrary provisions in this Agreement, the Facility Agent shall not be liable for any failure to perform or delay in performing its
obligations arising from any event that is out of its reasonable control, including but not limited to existing or future laws and regulations,
any present or future acts of governmental agency, acts of God, floods, wars (whether declared or undeclared), terrorist acts,
riots, rebellions, insurrections, strikes, other labour acts, total interruptions of electricity or other supplies, airplane crashes,
technical failure, accidental or mechanical electrical breakdown, computer breakdown or any breakdown of money transfer system.

 

		24.21	Other provisions of the Facility Agent

 

		(a)	Nothing in this Agreement shall require the Facility Agent to carry on an activity of the kind specified
by any provision of Part 1 of Schedule 5 of the Securities and Futures Ordinance under Hong Kong law, or to make the Loan to the
Borrower by the Facility Agent in its capacity as Agent.

 

		(b)	The Facility Agent shall be entitled to dispose any amount paid to it by any person for the

 

    
		68	FACILITY AGREEMENT

     

    

 

			purposes of
this Agreement in the same manner as the Customer made that payment to the Bank except that it shall not be liable to any person for any
interest or other fees in respect of the amount.

 

		(c)	The fees, commissions and expenses payable to the Facility Agent for services rendered and the performance
of their obligations under this Agreement shall not be abated by any remuneration or other amounts or profits receivable by the Facility
Agent in connection with any transaction effected by the Facility Agent (or by any of their Affiliates) with or for the Lender or the
Obligor to this Agreement.

 

		25.	Conduct of Business by the Finance Parties

 

No provision of this Agreement will:

 

		(a)	interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever manner
it thinks fit;

 

		(b)	oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available
to it or the extent, order and manner of any claim;

 

		(c)	oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise) or any
computations in respect of Tax; or

 

		(d)	oblige any Finance Party to do or omit to do anything in violation of (or would in its reasonable opinion
result in a violation of) any applicable law and regulation.

 

		26.	Sharing Among the Finance Parties

 

		26.1	Payments to Finance Parties

 

If a Finance Party (hereinafter referred
to as the "Recovering Finance Party") receives or recovers any amount from an Obligor other than in accordance with Clause
27 (Payment Mechanics) and applies that amount to a payment then due under the Finance Documents then:

 

		(a)	the Recovering Finance Party shall, within three (3) Business Days, notify details of the receipt
or recovery to the Facility Agent;

 

		(b)	the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering
Finance Party would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance
with Clause 27 (Payment Mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation
to the receipt, recovery or distribution; and

 

		(c)	the Recovering Finance Party shall, within three (3) Business Days of demand by the Facility Agent,
pay to the Facility Agent an amount (the "Sharing Payment ") equal to such receipt or recovery less any amount which
the Facility Agent determines may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with
Clause 27.5 (Partial payments).

 

		26.2	Redistribution of payments

 

The
Facility Agent shall treat the Sharing Payment as if it had been paid by an Obligor and distribute it between the Finance Parties
(other than the Recovering Finance Party) in accordance with Clause 27.5 (Partial payments).

 

    
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		26.3	Recovering Finance Party’s rights

 

On a distribution by the Facility Agent
under Clause 26.2 (Redistribution of payments), the Recovering Finance Party will be subrogated to the rights of the Finance Parties
which have shared in that redistribution.

 

		26.4	Reversal of redistribution

 

If
any part of the Sharing Payment received or recovered by a Recovering Finance Party becomes repayable and is repaid by that Recovering
Finance Party, then:

 

		(a)	each Finance Party which has received its share of a Sharing Payment pursuant to Clause 26.2 (Redistribution)
shall, on the request of the Facility Agent, pay to the Facility Agent for the account of that Recovering Finance Party an amount equal
to its appropriate share of the Sharing Payment (together with an amount as is necessary to reimburse that recovering Finance Party's
proportion of any interest which that Recovering Finance Party is required to pay in respect of that Sharing Payment); and

 

		(b)	the Recovering Finance Party's rights of subrogation in respect of any repayment shall be cancelled and
the Borrower shall account to the reimbursing Finance Party for the amount so reimbursed.

 

		26.5	Exceptions

 

		(a)	This Clause 26 shall not apply to the extent that, after making any payment pursuant to this Clause, the
Recovering Finance Party would not have a valid and enforceable claim against the Obligor.

 

		(b)	A Recovering Finance Party is not obliged to share with any other Finance Party any amount recovered or
recovered by that Recovering Finance Party as a result of taking legal or arbitration proceedings, if:

 

		(i)	it notified other Finance Party of the legal or arbitration proceedings; and

 

		(ii)	that other Finance Party had an opportunity to participate in those legal or arbitration proceedings but
did not do so as soon as reasonably practicable having received notice and did not take separate legal or arbitration proceedings.

 

Chapter 10

 

Administration

 

		27.	Payment Mechanics

 

		27.1	Payment to the Facility Agent

 

		(a)	On each date on which an Obligor or a Finance Party is required to make a payment under a Finance Document,
that Obligor or Finance Party shall make same available to the Facility Agent (unless a contrary indication appears in a Finance Document)
for value on the due date and at the time and in such funds specified by the Facility Agent as being customary at the time for the settlement
of transactions in the relevant currency in the place for payment.

 

    
		70	FACILITY AGREEMENT

     

    

 

		(b)	Payment shall be made to the account specified by the Facility Agent.

 

		27.2	Distributions by the Facility Agent

 

		(a)	Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject
to Clause 27.3 (Distributions to an Obligor) and Clause 27.4 (Clawback Arrangements), be made available by the Facility
Agent as soon as practicable after receipt to the Party entitled to receive that payment in accordance with this Agreement (and, in the
case of a Lender, its acting agent), to such account as that Party may notify to the Facility Agent by not less than five (5) Business
Days' notice with a bank in the principal financial centre of the country of the relevant currency.

 

		(b)	The Facility Agent shall distribute any moneys received by the Facility Agent in respect of all or any
part of a Loan to the Lenders entitled thereto as at the date shown by the Facility Agent's records, and to the Lenders who are entitled
thereto as at the date any transfer takes effect pursuant to Clause 22 (Changes to the Lenders), regardless of the period to which
it relates.

 

		27.3	Distributions to an Obligor

 

The Facility Agent shall (with the prior
written consent of the Obligor or pursuant to Clause 28 (Set-Off)) apply any amount received for an Obligor in or towards payment
(on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents or in or towards
the purchase of any amount of any currency to be so applied.

 

		27.4	Clawback Arrangements

 

		(a)	Where a sum is payable to the Facility Agent under the Finance Documents on behalf of another Party, the
Facility Agent is not obliged to pay that sum to that other Party (or to enter into or perform any exchange contract) until it has been
satisfied that it has actually received that sum.

 

		(b)	Where the Facility Agent pays an amount to another Party and it proves to be the case that the Facility
Agent had not actually received that amount, then the Party to which that amount (or the proceeds of any Exchange Contract) was paid by
the Facility Agent to it shall on demand refund the same to the Facility Agent together with interest on that amount calculated by the
Facility Agent to reflect its funds costs from the date of payment until the date of receipt by the Facility Agent.

 

		27.5	Partial payments

 

		(a)	If the Facility Agent receives a payment insufficient to discharge all the amounts then due and payable
by the Obligors under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of the Obligors under
the Finance Documents in the following order:

 

		(i)	first, in or towards payment of any unpaid fees, costs and expenses of the Facility Agent under the Finance
Documents;

 

		(ii)	secondly, in or towards payment pro rata of any compound interest, default interest, interest, fees (other
than as provided in paragraph (i) above) or commission incurred but not paid when due under this Agreement;

 

		(iii)	thirdly, in or towards payment pro rata of any principal amount due under this Agreement but not paid
when due (except as provided in paragraph (ii) above); and

 

    
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		(iv)	fourthly, in or towards payment pro rata of any other sum due but not paid under the Finance Documents.

 

		(b)	Where there are multiple payments due at different times in the same sequence as specified in paragraphs
(a) (ii) to (iv) above, they are set off in inverse order of payment for those payments which are due last. If so directed
by the Majority Lenders, the Facility Agent shall vary the order set out in paragraphs (a) (ii) to (iv) above.

 

		(c)	Paragraphs (a) and (b) above will override any distribution made by an Obligor.

 

		27.6	No set-off by the Obligor

 

All payments to be made by an Obligor
under the Finance Documents shall be calculated and made without (and free and clear of any deduction for) any set-off or counterclaim.

 

		27.7	Business Day

 

		(a)	Unless otherwise expressly provided in this Agreement, if any payment is due on a day that is not a Business
Day, such payment shall instead be made on the next Business Day in the same calendar month (if there is one) or the preceding Business
Day (if there is not).

 

		(b)	During any extension of the due date for payment of the principal amount or Unpaid Sum under paragraph
(a) above interest is payable on the principal amount or Unpaid Sum at the rate payable on the original due date.

 

		27.8	Currency of Account

 

		(a)	Subject to paragraphs (b) and (c) below, the currency of an account and any sum payable by an
Obligor under any Finance Document shall be the same as that in the Facility is made, that is RMB.

 

		(b)	Any costs, expenses or Taxes are payable in the currency in which such costs, expenses or Taxes are incurred.

 

		(c)	Any amount expressed to be payable in a currency other than RMB shall be payable in that other currency.

 

		27.9	Change of Currency

 

		(a)	Unless otherwise prohibited by law, if more than one currency or currency unit are at the same time recognised
by the central bank of any country as the lawful currency of that country, then:

 

		(i)	any reference in the Finance Documents to, and any obligations arising under the Finance Documents in,
the currency of that country shall be converted into or paid in, the currency or currency unit of that country designated by the Facility
Agent; and

 

		(ii)	any translation from one currency or currency unit to another shall be made at the official rate of exchange
recognised by the central bank for conversion of that currency or currency unit to the other, rounded up or down by the Facility Agent.

 

		(b)	If a change in any currency of a country occurs, this Agreement will, to the extent the Facility Agent
specifies to be necessary, be amended to conform to generally accepted 

 

    
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			customary and market practice in the interbank market of China
or otherwise to reflect the changes in currency.

 

		27.10	Payment Disruption Events

 

		(a)	If the Facility Agent believes (in its sole discretion) that any Disruption Event has occurred or the
Facility Agent is notified by an Obligor that a Disruption Event has occurred:

 

		(i)	the Facility Agent may, and shall if so requested by that Obligor consult with that Obligor with a view
to reaching agreement with that Obligor with the operation and administration of the Loans and the security or guarantee relating thereto
with such adjustments as the Facility Agent considers necessary in the circumstances;

 

		(ii)	the Facility Agent shall not be required to consult with that Obligor in respect of, or be obliged to
agree to, an adjustment if, in its opinion, it is not practicable to make the adjustment in the circumstances; and

 

		(iii)	if, in its opinion, it is not practicable to, make an adjustment in the circumstances, it may (but shall
not be obliged to) consult with the Finance Parties regarding such adjustment.

 

		(b)	Any agreement between the Facility Agent and an Obligor will be treated as an amendment to (or, as the
case may be, waiver of) the Finance Documents and will be binding on the Parties (whether or not it is finally determined that it constitutes
a Disruption Event) notwithstanding the provisions of Clause 33 (Amendments and Waivers).

 

		(c)	Notwithstanding any other provision of this Agreement, the Facility Agent will not be liable for any damages,
costs or losses whatsoever (whether in contract, tort or otherwise and whether or not resulting from the negligence or any other kind
of liability of the Facility Agent but excluding any claim based on the gross negligence or fraud of the Facility Agent) as a result of
any action taken, or omitted to be taken, by the Facility Agent pursuant to this Clause 27.10 (Payment Disruption Events).

 

		(d)	The Facility Agent shall inform the Finance Parties of any change made pursuant to paragraph (b) above
in the operation and administration of the Loans and the security or guarantee associated therewith.

 

		28.	SET-OFF

 

A Finance Party may set off any matured
obligation owed to it by that Obligor under the Finance Documents (to the extent beneficially owned by that Finance Party) against any
obligation (whether or not matured) owed by that Finance Party to an Obligor, regardless of the place of payment, booking branch or currency
of that obligation. If the obligations are in different currencies, the Finance Party may convert either obligation at a market rate of
exchange in its normal course of business for the purpose of the set-off. A Finance Party shall promptly notify the Facility Agent of
any set-off under this Clause 28, following which the Facility Agent shall notify the Obligor accordingly.

 

    
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		29.	Notices

 

		29.1	Communications in writing

 

Any communication to be made under or
in connection with the Finance Documents shall be made in writing and, unless otherwise stated, may be made by fax or letter.

 

		29.2	Addresses

 

The address and fax number (and the
department or officer, if any, for whose attention the communication is to be made) of each Party for any communication or document to
be made or delivered under or in connection with the Finance Documents is:

 

		(a)	In the case of each Obligor, that identified address, fax number, department or officer with its name
below (The Borrower hereby authorizes such contact person (or the contact person of the Borrower amended in accordance with this Clause
29.2) to call back and provide the Facility Agent on the behalf of the Borrower for any payment to be made by the Borrower in respect
of the Finance Documents);

 

		(b)	In the case of each Lender, that notified address, fax number, department or officer with its name below
to the Facility Agent on or prior to the date on which it becomes a Party; and

 

		(c)	In the case of the Facility Agent, the address, fax number, department or officer identified with its
name below,

 

Or
any substitute address, fax number or department or officer as a Party may, by not less than five (5) Business Days' notice,
notify to the Facility Agent or, in the case of a change by the Facility Agent, the Facility Agent may notify to the other Parties (except
for the change by the Facility Agent, the Facility Agent is not obliged to notify to the other Parties). .

 

		29.3	Delivery

 

		(a)	Any communication or document made or delivered by one person to another under or in connection with the
Finance Documents will only be effective:

 

		(i)	if by way of fax, on the date marked on the confirmation report sent by the sender’s fax machine
(indicating that a complete and uninterrupted fax has been sent to the relevant fax number) (if there is a Business Day) or the preceding
Business Day (if there is not); or

 

		(ii)	if by way of letter, only when it has been left at the relevant address or five (5) Business Days
after being deposited in the post postage prepaid in an envelope addressed to it at that address. Notwithstanding the foregoing regulation,
in the case of any communication or document made or despatched by any Finance Party to the Obligor, if such communication or document
is returned under the circumstances of: (A) the address and/or contact details of the Obligor are inaccurate and the Facility Agent
is not promptly notified of any change in them; (B) the Obligor does not sign for such communications or documents for any reason
after being delivered at such addresses, the date of service of such communication or document shall be deemed as the date such communication
or document is returned

 

and, if a particular department or officer
is specified as part of its address details provided under Clause 29.2 (Addresses), shall indicate to address to that department
or officer.

 

    
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		(b)	Any communication or document to be made or delivered to the Facility Agent will be effective only when
actually received by the Facility Agent and then only if it is expressly marked for the attention of the department or officer identified
with the Facility Agent's signature below (or any substitute department or officer as the Facility Agent shall specify for this purpose).

 

		(c)	All notices from or to an Obligor shall be sent through the Facility Agent.

 

		(d)	Any communication or document made or delivered to the Borrower in accordance with this Clause will be
deemed to have been made or delivered to the Guarantor.

 

		(e)	If the Obligor further agrees to accept service by email, text message or WeChat, the judicial authority
may send email, text or WeChat messages to the email address, mobile phone number, and WeChat number kept by the Obligor with the Finance
Parties and such service shall be deemed to be effective.

 

		29.4	Language

 

		(a)	This Agreement is executed in Chinese and English. The Chinese version shall be the governing version,
and in case of any discrepancy between the English version and the Chinese version, the Chinese version shall prevail.

 

		(b)	All notices given or other documents to be provided under or in connection with any Finance Document shall
be in Chinese as between the Finance Parties and between each Finance Party and an Obligor (if not in Chinese, and if so required by the
Facility Agent, accompanied by a certified Chinese translation and, in this case, the Chinese translation will prevail unless the document
is a constitutional, statutory or other official document).

 

		29.5	Electronic communication

 

		(a)	Notwithstanding the foregoing provisions, any communication to be made between the Facility Agent or any
other Parties under or in connection with the Finance Documents may be made by electronic mail or other electronic means if the Facility
Agent and the relevant party:

 

		(i)	Agree to accept such means of communication, unless a contrary declaration is made;

 

		(ii)	Notify each other in writing of their email address and/or any other information required to enable the
transmission of information by that means;

 

		(iii)	Notify each other of any change to their address or any other such information.

 

		(b)	Any such electronic communication made between the Facility Agent and each Party will only be effective
when actually received in readable form and in the case of any electronic communication made to the Facility Agent by a Party, will only
be effective if expressly stated.

 

		(c)	Any electronic communication or document which becomes effective, in accordance with Clause 29.5(b) above,
after 5:00 p.m. in the place of receipt shall not be deemed effective until the following day.

 

    
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		30.	Calculations and Certificates

 

		30.1	Accounts

 

In any litigation or arbitration proceedings
arising out of or in connection with a Finance Document, the entries made in the accounts maintained by a Finance Party are prima facie
evidence of the matters to which they relate.

 

		30.2	Certificates and determinations

 

Any certification or determination by
a Finance Party of a rate or amount under any Finance Document is, in the absence of manifest error, conclusive evidence of the matters
to which it relates.

 

		30.3	Day count convention

 

Any interest, commission or fee accruing
under a Finance Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of
360 days.

 

		31.	PARTIAL INVALIDITY

 

If, at any time, any provision of a
Finance Document is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality,
validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of
any other jurisdiction will in any way be affected or impaired.

 

		32.	REMEDIES AND WAIVERS

 

No failure to exercise, nor any delay
in exercising, on the part of any Finance Party, any right or remedy under the Finance Documents shall operate as a waiver of any such
right or remedy. No single or partial exercise of any right or remedy shall prevent any further or other exercise or the exercise of any
other right or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided
by law.

 

		33.	AMENDMENTS AND WAIVERS

 

		33.1	Required consents

 

		(a)	Subject to Clause 19 (Financial Covenants) and Clause 33.2 (Other exceptions), any term
of the Finance Documents may be amended or waived only with the consent of the Majority Lenders and the Obligors that as a Party of such
Finance Documents and any such amendment or waiver will be binding on all Parties.

 

		(b)	The Facility Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this
Clause 33.

 

		33.2	Other exceptions

 

		(a)	An amendment or waiver that has the effect of changing or which relates to:

 

		(i)	The definition of “Majority Lenders” in Clause 1.1 (Definitions);

 

		(ii)	An extension to the date of payment of any amount under the Finance Documents;

 

    
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		(iii)	A reduction in the Margin or a reduction in the amount of any payment of principal, interest, fees or
commission payable;

 

		(iv)	An increase in, or an extension of, any Commitment;

 

		(v)	An extension of the Availability Period;

 

		(vi)	Any change in the purpose of the Loans;

 

		(vii)	A change to the Borrower;

 

		(viii)	Any provision which expressly requires the consent of all the Lenders;

 

		(ix)	Clause 2.3 (Finance Parties rights and obligations), Clause 22 (Changes to the Lenders),this
Clause 33 (Amendments and Waivers); or

 

		(x)	A change in currency of payment.

 

shall not be made without the prior consent
of all the Lenders.

 

		(b)	An amendment or waiver which relates to the rights or obligations of the Facility Agent or the Mandated
Lead Arranger may not be effected without the consent of the Facility Agent or the Mandated Lead Arranger.

 

		34.	COUNTERPARTS

 

Each Finance Document may be executed
in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of the Finance
Document. This Agreement takes effect from the date of execution.

 

SECTION 11

 

GOVERNING LAW AND JURISDICTION

 

		35.	GOVERNING LAW AND JURISDICTION

 

		35.1	Governing Law

 

This Agreement is governed and construed
by the laws of People's Republic of China.

 

		35.2	Governing Court

 

		(a)	The parties shall resolve any disputes with other parties under this agreement by negotiation based on
the principle of good faith. In the event that no resolution can be reached to the satisfaction of the Parties, any Party shall submit
the Dispute to the non-exclusive jurisdiction of the competent People's Court of the place where the Facility
Agent is located.

 

		(b)	This Clause is for the benefit of the Finance Parties only. As a result, this shall not prevent any Finance
Party from taking proceedings relating to the Dispute in any other competent courts. To the extent allowed by law, a Finance Party may
take concurrent proceedings in any number of jurisdictions.

 

This Agreement has been executed on the date first
written above.

 

    
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SCHEDULE 1

 

LIST A

 

THE ORIGINAL LENDER AND COMMITMENTS

 

	THE ORIGINAL LENDER	 	Facility Commitment
 (RMB) 

	HSBC Bank (China) Company Limited, Shanghai Branch	 	RMB
    573,000,000
	Citibank (China) Co., Ltd., Shanghai Branch	 	RMB 190,000,000
	JPMorgan Chase Bank (China) Company Limited, Shanghai Branch	 	RMB 158,000,000
	Coöperatieve Rabobank U.A., Shanghai Branch	 	 RMB 158,000,000
	Total Commitment	 	RMB 1,079,000,000

 

    
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List B

 

Account Information of Financial Parties

 

	Receiving Bank	Recipient	Receiving Account	Payment Information	Code and Response Code	Contact	Contact Email
	 As Original Lender
	HSBC Bank (China) Company Limited, Shanghai Branch	HSBC Bank (China) Company Limited, Shanghai Branch	XXXX	/	/	Nina Peng	XXXX
	Citibank (China) Co., Ltd., Shanghai Branch	Citibank (China) Co., Ltd., Shanghai Branch	XXXX	/	/	Vicky Li	XXXX
	JPMorgan Chase Bank (China) Company Limited Shanghai Branch	JPMorgan Chase Bank (China) Company Limited Shanghai Branch	XXXX	XXXX	/	Gabe
Ye; Lynn Li 

XXXX	XXXX
	Coöperatieve Rabobank U.A., Shanghai Branch	Coöperatieve Rabobank U. A. Shanghai Branch	XXXX	XXXX	/	Shanghai Operations/ Maarten Beelen/ Calvin Jin/Kim Jin	XXXX
	As Facility Agent
	HSBC Bank(China) Company Limited, Shanghai Branch	HSBC Bank(China) Company Limited, Shanghai Branch	XXXX	/	/	Liu Yige/Wu Chenjie	XXXX

 

    
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SCHEDULE 2

 

CONDITIONS PRECEDENT

 

		(a)	Duly certified true copies of the following documents of the Borrower:

 

		(i)	the current business licence;

 

		(ii)	articles of association and all amendments (if any);

 

		(iii)	certified copy of the Borrower's loan card or credit code (if applicable) issued by PBOC;

 

		(iv)	a list of current shareholders and directors (which shall be consistent with the information registered
with the SAMR); and

 

		(v)	each director’s ID copies.

 

		(b)	A copy of the following documents of the Guarantor:

 

		(i)	the Certificate of Incorporation, as amended;

 

		(ii)	the Bylaws, as amended;

 

		(iii)	resolutions of the Board of Directors
authorizing the delivery, performance and execution of the Guarantee;

 

		(iv)	a certificate of good standing issued by the Secretary of State of the State of Delaware; and

 

		(v)	a certificate of a duly authorized officer of the Guarantor in form and substance reasonably satisfactory
to Facility Agent.

 

		(c)	Board resolutions properly
made by the internal authority of the Borrower, formally and substantially satisfactory to the Facility Agent (acting on the instruction
of the Majority Lenders), approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party and
resolving to enter into the Finance Documents to which it is a party.

 

		(d)	A specimen signature/seal and a copy of the identity card/passport respectively of each director who has
signed the resolution referred to in paragraph (c) above and each person who will execute the Finance Documents.

 

		(e)	A certificate of one director or authorised signatory of each Obligor,

 

		(i)	confirming that the borrowing or security by that Obligor under the Finance Documents would not cause
any borrowing or security or similar limit to be exceeded.

 

		(ii)	certifying that each of the documents relating to that Obligor set out in this Schedule 2 is correct,
complete and valid as at a date no earlier than the date of this Agreement.

 

    
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		(f)	Legal Opinion:

 

		(i)	A legal opinion of JunHe LLP, Shanghai Office as to PRC law in form and substance reasonably satisfactory
to the Finance Parties.

 

		(ii)	A legal opinion of JunHe LLP, New York Office in relation to the Guarantee in form and substance reasonably
satisfactory to the Finance Parties.

 

		(g)	Other documents and evidence:

 

		(i)	Duly signed Facility Agreement and the other Finance Documents.

 

		(ii)	Original Financial Statements.

 

		(iii)	Filing/approval documents issued by the National Development and Reform Commission or other governmental
department with the same governmental functions obtained by the Borrower in relation to the development and construction of the Project
(or other documents satisfactory to the Facility Agent (acting on the instruction of the Majority Lenders)).

 

		(iv)	The approval documents issued by the competent environmental protection authority for environmental impact
assessment of the Project (or other documents satisfactory to the Facility Agent (acting on the instruction of the Majority Lenders)).

 

		(v)	Documents evidencing that the capital injected into the Project has met the applicable minimum capital
requirements for fixed asset project investments and such capital has been injected by Lamb Weston (Hong Kong) Limited.

 

		(vi)	The land contracts relating to the Project and invoices (or other documents satisfactory to the Facility
Agent) evidencing that the Borrower has paid off the fees and taxes due and payable for obtaining the land use right pursuant to the aforesaid
land contracts.

 

		(vii)	The original of the property certificate of the Project Land.

 

		(viii)	The construction land planning permit, construction project planning permit and interim construction commencement
permit (the formal permit shall be provided within the timeline as recorded in the interim permit) issued by the relevant authorities
in respect of the Project (or other equivalent documents satisfactory to the Facility Agent (acting on the instruction of the Majority
Lenders)).

 

		(ix)	Reports on the construction plan, cost budget and progress of the Project, which shall be certified by
the architect or supervisor for the Project in form and substance satisfactory to the Facility Agent and evidence that project progress
matches the invested amount.

 

		(x)	Documents evidencing that the Loan disbursement Account and the Repayment Reserve Account have been opened.

 

		(xi)	The Borrower and the Guarantor have duly executed the authorisation regarding its credit report enquiries
at the request of each Lender.

 

		(xii)	Evidence that fees, costs and expenses due and payable under Clause 11 (Fees) have been paid or will be
paid by the Borrower on or before the first Utilisation Date.

 

    
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		(xiii)	Documents as are reasonably requested by a Lender ten (10) days prior and required by each Lender
in order to complete any "know your customer" checking procedure or similar process in accordance with applicable laws and regulations.

 

		(xiv)	A confirmation letter provided by the Borrower evidencing that no security under any WBND transaction
has been enforced before and there is no other existing WBND transaction (except for WBND transaction under this Agreement).

 

		(xv)	Any other relevant documents as may be reasonably requested
by the Facility Agent (acting on the instructions of the Majority Lenders).

		 	 

    
		83	FACILITY AGREEMENT

     

    

 

SCHEDULE 3

 

Form of Utilisation Request

 

To:
HSBC Bank (China) Company Limited, Shanghai Branch (as Facility Agent)

 

Dated:

 

Dear Sirs and Madams:

 

Ulanqab Lamb Weston Food Co., Ltd.,——RMB Tem Loan
Facility Agreement dated [     ] 2022 (the "Facility Agreement")

 

		1.	We refer to the Facility Agreement. This is a Utilisation Request. Terms defined in the Facility Agreement
shall have the same meaning in this Utilisation Request.

 

		2.	We wish to borrow a Loan on the following terms:

 

Facility
to be utilised: [Facility]/[Facility](Please delete if
not applicable)

 

Proposed Utilisation Date:

 

Due Date:

 

Amount:

 

Interest Rate for the first Interest
Period:

 

Loan Purpose:

 

Payment
Account: Specific Loan Account (Method of Loan: Entrusted Payment)

 

		3.	We confirm that each condition specified in Clause 4.2 (Further conditions precedent) of the Facility
Agreement is satisfied on the date of this Utilisation Request.

 

		4.	No Default has occurred or continue, and the requirement Loan in this Utilisation Request will not constitute
any Default Event.

 

		5.	This Utilisation Request is irrevocable

 

 

authorised signatory

 

for Ulanqab Lamb Weston Food Co., Ltd.,

 

    
		84	FACILITY AGREEMENT

     

    

 

SCHEDULE 4

 

Form of Transfer Certificate

 

To:
HSBC Bank (China) Company Limited, Shanghai Branch as Facility Agent

 

		From:	[the Existing Lender] (the Existing Lender) and [the New Lender] (the New Lender)

 

Dated:

 

Ulanqab Lamb Weston Food Co., Ltd.,——RMB Tem Loan
Facility Agreement dated [     ] 2022 (the "Facility Agreement")

 

		1.	We refer to the Facility Agreement. This is a Transfer Certificate. Terms used in the Facility Agreement
shall have the same meaning in this Transfer Certificate.

 

		2.	We refer to Clause 22.5 (Procedure for transfer)

 

		(a)	The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by
novation, and in accordance with Clause 22.5 (Procedure for transfer) of the Facility Agreement, all or part of the Existing Lender’s
rights and obligations as described in the Schedule.

 

		(b)	The proposed Transfer Date is [     ].

 

		(c)	The Facility Office and address, fax number and attention particulars for notices of the New Lender for
the purposes of Clause 29.2 (Addresses) of the Facility Agreement are set out in the Schedule.

 

		3.	The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out
in paragraphs (a) and (c) of Clause 22.4 (Limitation of responsibility of Existing Lenders) of the Facility Agreement
and comfirms that it has received duplicates of Finance Documents (other than the Fee Letter) and other information it request in relation
to the Transfer.

 

		4.	This Transfer Certificate may be executed in any number of counterparts and this has the same effect as
if the signatures on the counterparts were on a single copy of this Transfer Certificate.

 

		5.	This Transfer Certificate is governed by the laws of the People’s Republic of China (for the purpose
of this clause, excluding Hong Kong, the Macau Special Administrative Region and Taiwan).

 

    
		85	FACILITY AGREEMENT

     

    

 

THE SCHEDULE

 

Commitment/Rights and Obligations to be transferred

 

Transfer Details:

 

Nature:
[insert description of the transfer Loan]

 

Final Due Date:

 

Transferrd Commitment Amount/ Participation Amount

 

	Participation Amount in the total Facility balance	
    [    ]

     

	 	 
	Available Commitment Amount	[    ]
	 	 
	Deposit account of the New Lender	[    ]
	 	 
	Address: 	[    ]
	 	 
	Phone number: 	[    ]
	 	 
	Fax: 	[    ]
	 	 
	Recipient/Reference Number 	[    ]
	 	 
	Email	[        ]

 

	[the Existing
Lender]		    [the
New Lender]
		 	 
	By:		By:

 

This Novation Certificate is executed by the Facility
Agent and the Novation Date is confirmed as [  ].

 

HSBC
Bank (China) Company Limited, Shanghai Branch as Facility Agent

 

By:

 

    
		86	FACILITY AGREEMENT

     

    

 

SCHEDULE 5

 

FORM OF COMPLIANCE CERTIFICATE

 

To:
HSBC Bank (China)Company Limited, Shanghai Branch as Facility Agent

 

From: Ulanqab Lamb Weston Food Co., Ltd.,

 

Dated:

 

Dear Sirs and Madams

 

Ulanqab Lamb Weston Food Co., Ltd.,——RMB Tem Loan
Facility Agreement dated [     ] 2022 (the "Facility Agreement")

 

		1.	We refer to the Facility Agreement. This is a Compliance Certificate. Terms used in the Facility Agreement
shall have the same meaning in this Compliance Certificate.

 

		2.	We confirm that: [Insert details of covenants as set out in Section 19 (Financial Covenant) of the
Facility Agreement to be certified including calculations]

 

		3.	[We confirm that no Default is continuing.]*

 

	Signed:	 	 

Director/Authorized Signatory of Ulanqab Lamb Weston Food Co., Ltd.,

 

    
		87	FACILITY AGREEMENT

     

    

 

SCHEDULE 6

 

FORM OF ACCESSION LETTER

 

To:
HSBC Bank (China) Company Limited, Shanghai Branch as Facility Agent

 

From: [the New Lender] (the "New
Lender")

 

Dated:

 

Ulanqab Lamb Weston Food Co., Ltd.,——RMB Tem Loan
Facility Agreement dated [     ] 2022 (the "Facility Agreement")

 

		1.	This Accession Letter refers to the Facility Agreement. Terms defined in the Facility Agreement have the
same meaning in this Accession Letter.

 

		2.	The New Lender agrees to be bound by the terms of the Facility Agreement as a Lender on the date this
accession letter is accepted and dated by Facility Agent. The commitment amount provided by the new lender is [     ].

 

		3.	The New Lender’s administrative details are [     ].

 

		4.	The New Lender expressly acknowledges the limitations on the obligations of existing lenders as set out
in paragraphs (a) and (c) of Section 22.4 (Limitations of responsibilities of Existing Lenders).

 

		5.	This Accession Letter may be executed in any number of counterparts and this has the same effect as if
the signatures on the counterparts were on a single copy of this Accession Letter.

 

		6.	This Accession Letter is governed and explained by the laws of People’s Republic of China (excluding
Hong Kong, the Macau Special Administrative Region and Taiwan).

 

[the New Lender]

 

Signed:

 

 

Accepted by

[Facility Agent]

 

 

By:

 

 

Accepted by

 

    
		88	FACILITY AGREEMENT

     

    

 

The Borrower

 

Ulanqab Lamb Weston Food Co., Ltd.,

 

    
		89	FACILITY AGREEMENT

     

    

 

EXECUTION PAGE

 

Ulanqab Lamb Weston Food Co., Ltd.,

 

(as Borrower)

 

	By:	/s/ Nicole Zhang	 
	 	Nicole Zhang	 

 

Address: XXXX

 

Attention: Susan Sun, Finance Manager-Project / Susie Cui, Senior Accountant

 

Telephone:
XXXX

 

Email:
XXXX

 

    
			FACILITY AGREEMENT

     

    

 

HSBC Bank (China) Company Limited

 

(as Mandated Lead Arranger)

 

		By:	/s/ Ding Zuocheng	 

 

Address: XXXX

 

Postal Code: XXXX

 

Attention: Ding Zuocheng

 

Tel.: XXXX

 

Fax:/

 

Email: XXXX

 

    
			FACILITY AGREEMENT

     

    

 

Citibank (China) Co., Ltd., Shanghai Branch

 

(as Mandated Lead Arranger)

 

		By:	/s/
                                            Vicky Li	 

 

Address: XXXX

 

Postal Code: XXXX

 

Attention: Vicky Li

 

Tel.: XXXX

 

Fax:/

 

Email: XXXX

 

    
			FACILITY AGREEMENT

     

    

 

Coöperatieve Rabobank U.A., Shanghai Branch

 

(as Mandated Lead Arranger)

 

	By:	/s/
                                            Maarten Beelen	 

 

Address: XXXX

 

Postal Code: XXXX

 

Attention: Maarten Beelen/ Calvin Jin/Kim Jin

 

Tel.: XXXX

 

Fax: XXXX

 

Email: XXXX

 

    
			FACILITY AGREEMENT

     

    

 

HSBC Bank (China) Company Limited

 

(as Coordinator)

 

	By:	/s/
                                            Ding Zuocheng	 

 

Address: XXXX

 

Postal Code: XXXX

 

Attention: Ding Zuocheng

 

Tel.: XXXX

 

Fax:/

 

E-mail: XXXX

 

    
			FACILITY AGREEMENT

     

    

 

HSBC Bank (China) Company Limited, Shanghai
Branch

 

(as Facility Agent)

 

	By:	/s/
                                            Liu Yige	 

 

Address: XXXX

 

Postal Code: XXXX

 

Attention: Liu Yige/Wu Chenjie

 

Telephone: XXXX

 

Fax:/

 

E-mail: XXXX

 

    
			FACILITY AGREEMENT

     

    

 

HSBC Bank (China) Company Limited, Shanghai
Branch

 

(as Original Lender)

 

	By:	/s/
                                            Aimee Zhang	 

 

Address:
XXXX

 

Postal
Code: XXXX

 

Attention: Aimee Zhang/Nina Peng

 

Tel.:
XXXX

 

Fax: /

 

Email:
XXXX

 

    
			FACILITY AGREEMENT

     

    

 

Citibank (China) Co., Ltd., Shanghai Branch

 

(as Original Lender)

 

	By:	/s/
                                            Vicky Li	 

 

Address: XXXX

 

Postal Code: XXXX

 

Attention: Vicky Li

 

Tel.: XXXX

 

Fax:/

 

Email: XXXX

 

    
			FACILITY AGREEMENT

     

    

 

JPMorgan Chase Bank (China) Company Limited,
Shanghai Branch

 

(as Original Lender)

 

	By:	/s/
                                            Maggie Qiu	 

 

Address: XXXX

 

Postal Code: XXXX

 

Attention: Maggie Qiu

 

Tel.: XXXX

 

Fax: XXXX

 

Email: XXXX

 

    
			FACILITY AGREEMENT

     

    

 

Coöperatieve Rabobank U.A., Shanghai Branch

 

(as Original Lender)

 

	By:	/s/
                                            Maarten Beelen	 

 

Address: XXXX

 

Postal Code: XXXX

 

Attention: Maarten Beelen/ Calvin Jin/Kim Jin

 

Tel.: XXXX

 

Fax: XXXX

 

Email: XXXX

 

    
			FACILITY AGREEMENT

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