Document:

Exhibit 4.8

EXECUTION VERSION

 

CO-LENDER AGREEMENT

 

Dated as of November 20, 2017

by and among

 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

(Initial Note A-1-A Holder)

 

Column
Financial, Inc.

(Initial Note A-1-B Holder)

 

Cantor
Commercial Real Estate Lending, L.P.

(Initial Note A-1-C Holder)

 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

(Initial Note A-2-A Holder)

 

Column
Financial, Inc.

(Initial Note A-2-B Holder)

 

Cantor
Commercial Real Estate Lending, L.P.

(Initial Note A-2-C Holder)

  

Lehigh Valley Mall

 

     

     

    

 

TABLE OF CONTENTS 

 

	 	 	Page
	Section 1	Definitions	1
	Section 2	Servicing of the Mortgage Loan	16
	Section 3	Priority of Payments	22
	Section 4	Workout	23
	Section 5	Administration of the Mortgage Loan	23
	Section 6	Appointment of Controlling Note Holder Representative
    and Non-Controlling Note Holder Representative	28
	Section 7	Appointment of Special Servicer	31
	Section 8	Payment Procedure	32
	Section 9	Limitation on Liability of the Note Holders	33
	Section 10	Bankruptcy	34
	Section 11	Representations of the Note Holders	34
	Section 12	No Creation of a Partnership or Exclusive Purchase Right	35
	Section 13	Other Business Activities of the Note Holders	35
	Section 14	Sale of the Notes	35
	Section 15	Registration of the Notes and Each Note Holder	38
	Section 16	Governing Law; Waiver of Jury Trial	39
	Section 17	Submission To Jurisdiction; Waivers	39
	Section 18	Modifications	40
	Section 19	Successors and Assigns; Third Party Beneficiaries	40
	Section 20	Counterparts	40
	Section 21	Captions	40
	Section 22	Severability	40
	Section 23	Entire Agreement	41
	Section 24	Withholding Taxes	41
	Section 25	Custody of Mortgage Loan Documents	42
	Section 26	Cooperation in Securitization	42
	Section 27	Notices	43
	Section 28	Broker	43
	Section 29	Certain Matters Affecting the Agent	44
	Section 30	Termination and Resignation of Agent	44
	Section 31	Resizing	45

 

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THIS CO-LENDER AGREEMENT
(this “Agreement”), dated as of November 20, 2017 by and among JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (“JPM”
and together with its successors and assigns in interest, in its capacity as owner of the Note A-1-A, the “Initial Note
A-1-A Holder”, and in its capacity as the initial agent, the “Initial Agent”), COLUMN FINANCIAL,
INC. (“Column” and together with its successors and assigns in interest, in its capacity as owner of the Note
A-1-B, the “Initial Note A-1-B Holder”), CANTOR COMMERCIAL REAL ESTATE LENDING, L.P., (“CCRE”
and together with its successors and assigns in interest, in its capacity as owner of the Note A-1-C, the “Initial Note
A-1-C Holder”), JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (together with its successors and assigns in interest, in
its capacity as owner of the Note A-2-A, the “Initial Note A-2-A Holder”), COLUMN FINANCIAL, INC. (together
with its successors and assigns in interest, in its capacity as owner of the Note A-2-B, the “Initial Note A-2-B Holder”)
and CANTOR COMMERCIAL REAL ESTATE LENDING, L.P., (together with its successors and assigns in interest, in its capacity as owner
of the Note A-2-C, the “Initial Note A-2-C Holder” and, collectively with the Initial Note A-1-A Holder, the
Initial Note A-1-B Holder, the Initial Note A-1-C Holder, the Initial Note A-2-A Holder and the Initial Note A-2-B Holder, the
“Initial Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the Mortgage Loan Agreement (as defined herein), JPM, Column and CCRE co-originated a certain loan described on the schedule attached
hereto as Exhibit A (the “Mortgage Loan Schedule”) (the “Mortgage Loan”) to the mortgage
loan borrower described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was evidenced, inter
alia, by six promissory notes (as amended, modified or supplemented, the “Notes”) (i) one promissory note
in the original principal amount of $50,000,000 (“Note A-1-A”), made by the Mortgage Loan Borrower in favor
of JPM (“Initial Note A-1-A”), (ii) one promissory note in the original principal amount of $50,000,000 (“Note
A-1-B”) made by the Mortgage Loan Borrower in favor of Column (“Initial Note A-1-B”), (iii) one promissory
note in the original principal amount of $25,000,000 (“Note A-1-C”) made by the Mortgage Loan Borrower in favor
of CCRE (“Initial Note A-1-C”), (iv) one promissory note in the original principal amount of $27,500,000 (“Note
A-2-A”) made by the Mortgage Loan Borrower in favor of JPM (“Initial Note A-2-A”), (v) one promissory
note in the original principal amount of $27,500,000 (“Note A-2-B”) made by the Mortgage Loan Borrower in favor
of Column (“Initial Note A-2-B”) and (vi) one promissory note in the original principal amount of $20,000,000
(“Note A-2-C”) made by the Mortgage Loan Borrower in favor of CCRE (“Initial Note A-2-C”);
and secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”) on certain real property
located as described in the Mortgage Loan Agreement (collectively, the “Mortgaged Property”);

 

WHEREAS, the Initial
Note A-1-A Holder, the Initial Note A-1-B Holder, the Initial Note A-1-C Holder, the Initial Note A-2-A Holder, the Initial Note
A-2-B Holder and the Initial Note A-2-C Holder desire to enter into this Agreement to memorialize the terms under which they, and
their successors and assigns, shall hold Note A-1-A, Note A-1-B, Note A-1-C, Note A-2-A, Note A-2-B and Note A-2-C, respectively;

 

     

     

    

  

NOW, THEREFORE, in consideration
of the mutual covenants herein contained, the parties hereto mutually agree as follows:

 

Section
1.     Definitions. References to a “Section” or the “recitals” are, unless otherwise
specified, to a Section or the recitals of this Agreement. Capitalized terms not otherwise defined herein shall have the
meaning ascribed thereto in the Lead Securitization Servicing Agreement. Whenever used in this Agreement, the following terms
shall have the respective meanings set forth below unless the context clearly requires otherwise.

 

“Affiliate”
shall have the meaning set forth in the Lead Securitization Servicing Agreement.

 

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and after the Securitization
Date shall mean the Master Servicer.

 

“Agent Office”
shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement is located at
383 Madison Avenue, New York, New York 10179, Attention: Joseph E. Geoghan, and which is the address to which notices to and correspondence
with the Agent should be directed. The Agent may change the address of its designated office by notice to the Noteholders.

 

“Agreement”
shall mean this Agreement between Note Holders, the exhibits and schedule hereto and all amendments hereof and supplements hereto.

 

“Approved Servicer”
shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

 

“Asset Representations
Reviewer” shall mean the asset representations reviewer appointed as provided in the Lead Securitization Servicing Agreement.

 

“Asset Review”
shall mean any review of representations and warranties conducted by the Non Lead Asset Representations Reviewer, as contemplated
by Item 1101(m) of Regulation AB.

 

“Bankruptcy
Code” shall mean the United States Bankruptcy Code, as amended from time to time, any successor statute or rule promulgated
thereto.

 

“CCRE”
shall have the meaning assigned to such term in the preamble to this Agreement.

 

“CLO”
shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

 

“CLO Asset Manager”
with respect to any Securitization Vehicle which is a CLO, shall mean the entity which is responsible for managing or administering
a Note as an underlying asset of such Securitization Vehicle or, if applicable, as an asset of any Intervening Trust Vehicle

 

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(including,
without limitation, the right to exercise any consent and control rights available to the holder of such Note).

 

“Collection
Account” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

 

“Column”
shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Certificate
Administrator” shall mean the certificate administrator under the Lead Securitization Servicing Agreement, if any.

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended.

 

“Companion Distribution
Account” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

 

“Conduit”
shall have the meaning assigned to such term in Section 14(d).

 

“Conduit Credit
Enhancer” shall have the meaning assigned to such term in Section 14(d).

 

“Conduit Inventory
Loan” shall have the meaning assigned to such term in Section 14(d).

 

“Control”
shall mean the ownership, directly or indirectly, in the aggregate of more than fifty percent (50%) of the beneficial ownership
interests of an entity and the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of an entity, whether through the ability to exercise voting power, by contract or otherwise (“Controlled”
and “Controls” have meanings correlative thereto.)

 

“Controlling
Class Representative” shall have the meaning assigned to the term “Directing Certificateholder” in the Lead
Securitization Servicing Agreement.

 

“Controlling
Note Holder” shall mean the Note A-1-A Holder; provided that at any time Note A-1-A is included in the Lead Securitization,
references to the “Controlling Note Holder” herein shall mean the holders of the majority of the class of securities
issued in the Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned
the rights to exercise the rights of the “Controlling Note Holder” hereunder or under the Lead Securitization Servicing
Agreement, as and to the extent provided in the Lead Securitization Servicing Agreement; provided that if at any time 50%
or more of Note A-1-A (or class of securities issued in the Lead Securitization designated as the “controlling class”
or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Note Holder”) is held
by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, Note A-1-A (or the class of securities issued in the
Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights to
exercise the rights of the “Controlling Note Holder”) shall not be entitled to exercise any rights of the Controlling
Note Holder. If Note A-1-A is included in a Securitization, the Lead Securitization Servicing

 

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Agreement may contain additional
limitations on the rights of the designated party entitled to exercise the rights of the “Controlling Note Holder”
hereunder if such designated party is the Mortgage Loan Borrower or if it has certain relationships with the Mortgage Loan Borrower.

 

“Controlling
Note Holder Representative” shall have the meaning assigned to such term in Section 6(a).

 

“DBRS”
shall mean DBRS, Inc., and its successors in interest.

 

“Depositor”
shall mean (a) during the period from and after the first Securitization, the Depositor under the Lead Securitization Servicing
Agreement and (b) on and after the Securitization of Note A-1-A, J.P. Morgan Chase Commercial Mortgage Securities Corp.

 

“Event of Default”
shall mean, with respect to the Mortgage Loan, an “Event of Default” as defined in the Mortgage Loan Agreement.

 

“Fitch”
shall mean Fitch Ratings, Inc., and its successors in interest.

 

“Initial Agent”
shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-1-A Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-1-B Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-1-C Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-2-A Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-2-B Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-2-C Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
Holders” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Insolvency
Proceeding” shall mean any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or
any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action
for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets
of the Mortgage Loan Borrower for the benefit of its creditors, the

 

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appointment of or any proceeding seeking the appointment of
a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any
other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan
Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan
Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that following any such
permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement
shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage
Loan Documents; provided, further, however, that for the purposes of this definition, in the event that more
than one entity comprises the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

 

“Interest Rate”
shall mean the Interest Rate (as defined in the Mortgage Loan Documents).

 

“Intervening
Trust Vehicle” with respect to any Securitization Vehicle that is a CLO, shall mean a trust vehicle or entity which holds
any Note as collateral securing (in whole or in part) any obligation or security held by such Securitization Vehicle as collateral
for the CLO.

 

“JPM”
shall have the meaning assigned to such term in the preamble to this Agreement.

 

“KBRA”
shall mean Kroll Bond Rating Agency, Inc. and its successors in interest.

 

“Lead Securitization”
shall mean (a) during the period from and after the first Securitization of any Non-Lead Securitization Note and prior to the Securitization
of Note A-1-A, the Securitization of the first Note or portion thereof, and (b) on and after the Securitization of Note A-1-A,
the Securitization of Note A-1-A.

 

“Lead Securitization
Note” shall mean (a) during the period from and after the first Securitization Date and prior to the Securitization of
Note A-1-A, the first Note or portion thereof contributed to a Securitization, and (b) on and after the Securitization of Note
A-1-A, Note A-1-A.

 

“Lead Securitization
Note Holder” shall mean the holder of the Lead Securitization Note.

 

“Lead Securitization
Servicing Agreement” shall mean (i) the pooling and servicing agreement entered in connection with the Lead Securitization
and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization
Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with Section
2(a).

 

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“Lead Securitization
Subordinate Class Representative” shall mean the “Controlling Class Representative” as defined in the Lead
Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

 

“Lead Securitization
Trust” shall mean the Securitization Trust created in connection with the Lead Securitization.

 

“Major Decisions”
shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement; provided
that at any time that Note A-1-A is not included in the Lead Securitization, “Major Decision” shall mean:

 

(i)          any
proposed or actual foreclosure upon or comparable conversion (which shall include acquisitions of any REO Property) of the ownership
of the property or properties securing the Mortgage Loan if it comes into and continues in default;

 

(ii)         any
modification, consent to a modification or waiver of any monetary term (other than late fees and default interest) or material
non-monetary term (including, without limitation, the timing of payments and acceptance of discounted payoffs) of the Mortgage
Loan or any extension of the maturity date of the Mortgage Loan;

 

(iii)        following
a default or an event of default with respect to the Mortgage Loan, any exercise of remedies, including the acceleration of the
Mortgage Loan or initiation of any proceedings, judicial or otherwise, under the related Mortgage Loan Documents;

 

(iv)       any
sale of the Mortgage Loan (when it is a Defaulted Loan) or REO Property for less than the applicable Purchase Price (as defined
in the Lead Securitization Servicing Agreement);

 

(v)        any
determination to bring a Mortgaged Property or an REO Property into compliance with applicable environmental laws or to otherwise
address any Hazardous Materials (as defined in the Lead Securitization Servicing Agreement) located at a Mortgaged Property or
an REO Property;

 

(vi)       any
release of material collateral or any acceptance of substitute or additional collateral for the Mortgage Loan or any consent to
either of the foregoing, other than if required pursuant to the specific terms of the related Mortgage Loan Documents and for which
there is no lender discretion;

 

(vii)      any
waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to the Mortgage Loan or any consent
to such a waiver or consent to a transfer of a Mortgaged Property or interests in the borrower;

 

(viii)     any
incurrence of additional debt by a borrower or any mezzanine financing by any beneficial owner of a borrower (to the extent that
the lender has consent rights pursuant to the related Mortgage Loan Documents);

 

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(ix)        any
material modification, waiver or amendment of an intercreditor agreement, co-lender agreement or similar agreement with any mezzanine
lender or subordinate debt holder related to the Mortgage Loan, or any action to enforce rights (or decision not to enforce rights)
with respect thereto, or any material modification, waiver or amendment thereof;

 

(x)         any
property management company changes, including, without limitation, approval of the termination of a manager and appointment of
a new property manager or franchise changes (in each case, if the lender is required to consent or approve such changes under the
Mortgage Loan Documents);

 

(xi)        releases
of any material amounts from any escrow accounts, reserve funds or letters of credit, in each case, held as performance escrows
or reserves, other than those required pursuant to the specific terms of the related Mortgage Loan Documents and for which there
is no lender discretion;

 

(xii)       any
acceptance of an assumption agreement releasing a borrower, guarantor or other obligor from liability under the Mortgage Loan other
than pursuant to the specific terms of such Mortgage Loan and for which there is no lender discretion;

 

(xiii)      any
determination of an Acceptable Insurance Default (as defined in the Lead Securitization Servicing Agreement);

 

(xiv)      any
determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer under the circumstances described in
paragraph (c) of the definition of “Specially Serviced Loan” (as defined in the Lead Securitization Servicing Agreement);
or

 

(xv)       any
approval of a Major Lease (as defined in the Mortgage Loan Documents) to the extent lender’s approval is required by the
Mortgage Loan Documents.

 

“Master Servicer”
shall mean the master servicer appointed under the Lead Securitization Servicing Agreement.

 

“Monthly Payment
Date” shall mean the Scheduled Payment Date (as defined in the Mortgage Loan Documents).

 

“Moody’s”
shall mean Moody’s Investors Service, Inc., and its successors in interest.

 

“Morningstar”
shall mean Morningstar Credit Ratings, LLC, and its successors in interest.

 

“Mortgage”
shall have the meaning assigned to such term in the recitals.

 

“Mortgage Loan”
shall have the meaning assigned to such term in the recitals.

 

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“Mortgage Loan
Agreement” shall mean the Loan Agreement, dated as of October 13, 2017, between Lehigh Valley Mall, LLC, as Mortgage
Loan Borrower, and JPM, Column and CCRE, collectively, as lender, as the same may be further amended, restated, supplemented or
otherwise modified from time to time, subject to the terms hereof.

 

“Mortgage Loan
Borrower” shall have the meaning assigned to such term in the recitals.

 

“Mortgage Loan
Borrower Related Party” shall have the meaning assigned to such term in Section 13.

 

“Mortgage Loan
Documents” shall mean, with respect to the Mortgage Loan, the Mortgage Loan Agreement, the Mortgage, the Notes and all
other documents now or hereafter evidencing and securing the Mortgage Loan.

 

“Mortgage Loan
Schedule” shall have the meaning assigned to such term in the recitals.

 

“Mortgaged Property”
shall have the meaning assigned to such term in the recitals.

 

“Nonrecoverable
Servicing Advance” shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

“Non-Controlling
Note Holder” shall mean each Note Holder other than the Note A-1-A Holder; provided that with respect to each
Non-Controlling Note, at any time such Non-Controlling Note is included in a Securitization, references to the “Non-Controlling
Note Holder” herein shall mean the related Non-Lead Securitization Subordinate Class Representative or the controlling class
representative under the related Non-Lead Securitization Servicing Agreement or any other party assigned the rights under the Non-Lead
Securitization Servicing Agreement to exercise the rights of the “Non-Controlling Note Holder” hereunder, as and to
the extent provided in the related Non-Lead Securitization Servicing Agreement and as to the identity of which the Lead Securitization
Note Holder (and the Master Servicer and the Special Servicer) has been given written notice; provided that with respect
to each of Note A-1-B, Note A-1-C, Note A-2-A, Note A-2-B or Note A-2-C, if at any time 50% or more of Note A-1-B, Note A-1-C,
Note A-2-A, Note A-2-B or Note A-2-C is held by (or the majority “controlling class” holder or other party assigned
the rights to exercise the rights of such “Non-Controlling Note Holder” (as described above) is) the Mortgage Loan
Borrower or an Affiliate of the Mortgage Loan Borrower, such Note (and the majority “controlling class” holder or other
party assigned the rights to exercise the rights of such “Non-Controlling Note Holder” as described above) shall not
be entitled to exercise the rights of the related Non-Controlling Note Holder and there shall be deemed to be no Non-Controlling
Note Holder hereunder with respect to such Non-Controlling Note. The Lead Securitization Note Holder (or the Master Servicer or
the Special Servicer acting on its behalf) shall not be required at any time to deal with more than one party as representative
of the “controlling class” holder(s) in respect of any Note that is exercising the rights of a “Non-Controlling
Note Holder” herein or under the Lead Securitization Servicing Agreement (it being understood for the avoidance of doubt
that the Lead Securitization Note

 

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Holder (or the Master Servicer or Special Servicer on its behalf) may additionally need to deal
with the master servicer, special servicer or other party to the related Non-Lead Securitization Servicing Agreement) and, to the
extent that the related Non-Lead Securitization Servicing Agreement assigns such rights to more than one such party as the representative
of the “controlling class” holder(s), for purposes of this Agreement, the applicable Non-Lead Securitization Servicing
Agreement or the holders of such New Notes shall designate one party to deal with the Lead Securitization Note Holder (or the Master
Servicer or the Special Servicer acting on its behalf) as the representative of the related “controlling class” holder(s)
in exercising its rights as a “Non-Controlling Note Holder” herein or under the Lead Securitization Servicing Agreement,
and such party shall provide written notice of such designation to the Lead Securitization Note Holder (and the Master Servicer
and the Special Servicer acting on its behalf); provided that, in the absence of such designation and notice, the Lead Securitization
Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as
to which it has received written notice as having been designated as the applicable Non-Controlling Note Holder, as the applicable
Non-Controlling Note Holder under this Agreement.

 

“Non-Controlling
Note Holder Representative” shall have the meaning assigned to such term in Section 6(c).

 

“Non-Exempt
Person” shall mean any Person other than a Person who is either (i) a U.S. Person or (ii) has on file with the Agent
for the relevant year such duly-executed form(s) or statement(s) which may, from time to time, be prescribed by law and which,
pursuant to applicable provisions of (A) any income tax treaty between the United States and the country of residence of such Person,
(B) the Code or (C) any applicable rules or regulations in effect under clauses (A) or (B) above, permit the Servicer on behalf
of the Note Holders to make such payments free of any obligation or liability for withholding.

 

“Non-Lead Asset
Representations Reviewer” shall mean the “asset representations reviewer” under any Non-Lead Securitization
Servicing Agreement.

 

“Non-Lead Certificate
Administrator” shall mean the “certificate administrator” under any Non-Lead Securitization Servicing Agreement.

 

“Non-Lead Depositor”
shall mean the “depositor” under any Non-Lead Securitization Servicing Agreement.

 

“Non-Lead Master
Servicer” shall have the meaning assigned to such term in Section 2(b).

 

“Non-Lead Operating
Advisor” shall mean the “trust advisor”, “operating advisor” or other analogous party under the
Non-Lead Securitization Servicing Agreement.

 

“Non-Lead Securitization”
shall mean any Securitization of a Non-Lead Securitization Note.

 

“Non-Lead Securitization
Note” shall mean (a) during the period from and after the Securitization Date and prior to the Securitization of Note
A-1-A, any of the Notes other than

 

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the first Note or portion thereof contributed to a Securitization, and (b) on and after the
Securitization of Note A-1-A, Note A-1-B, Note A-1-C, Note A-2-A, Note A-2-B and Note A-2-C.

 

“Non-Lead Securitization
Note Holder” shall mean any holder of a Non-Lead Securitization Note.

 

“Non-Lead Securitization
Servicing Agreement” shall have the meaning assigned to such term in Section 2(b).

 

“Non-Lead Securitization
Subordinate Class Representative” shall mean the holders of the majority of the class of securities issued in the Securitization
of any Non-Lead Securitization Note designated as the “controlling class” pursuant to the related Non-Lead Securitization
Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued
in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the
rights to exercise the rights of the “Controlling Note Holder”) is held by the Mortgage Loan Borrower or an Affiliate
of the Mortgage Loan Borrower, no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate
Class Representative.

 

“Non-Lead Securitization
Trust” shall mean the Securitization Trust into which any Non-Lead Securitization Note is deposited.

 

“Non-Lead Special
Servicer” shall have the meaning assigned to such term in Section 2(b).

 

“Non-Lead Trustee”
shall have the meaning assigned to such term in Section 2(b).

 

“Note A-1-A”
shall have the meaning assigned to such term in the recitals.

 

“Note A-1-A
Holder” shall mean the Initial Note A-1-A Holder or any subsequent holder of Note A-1-A, as applicable.

 

“Note A-1-A
Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-A
Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-A Holder
or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

“Note A-1-B”
shall have the meaning assigned to such term in the recitals.

 

“Note A-1-B
Holder” shall mean the Initial Note A-1-B Holder or any subsequent holder of Note A-1-B, as applicable.

 

“Note A-1-B
Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-B
Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-B Holder
or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

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“Note A-1-C”
shall have the meaning assigned to such term in the recitals.

  

“Note A-1-C
Holder” shall mean the Initial Note A-1-C Holder or any subsequent holder of Note A-1-C, as applicable.

 

“Note A-1-C
Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-C
Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-C Holder
or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

“Note A-2-A”
shall have the meaning assigned to such term in the recitals.

 

“Note A-2-A
Holder” shall mean the Initial Note A-2-A Holder or any subsequent holder of Note A-2-A, as applicable.

 

“Note A-2-A
Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2-A
Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2-A Holder
or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

“Note A-2-B”
shall have the meaning assigned to such term in the recitals.

 

“Note A-2-B
Holder” shall mean the Initial Note A-2-B Holder or any subsequent holder of Note A-2-B, as applicable.

 

“Note A-2-B
Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2-B
Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2-B Holder
or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

“Note A-2-C”
shall have the meaning assigned to such term in the recitals.

 

“Note A-2-C
Holder” shall mean the Initial Note A-2-C Holder or any subsequent holder of Note A-2-C, as applicable.

 

“Note A-2-C
Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2-C
Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2-C Holder
or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

“Note Holders”
shall mean collectively, the Note A-1-A Holder, the Note A-1-B Holder, the Note A-1-C Holder, the Note A-2-A Holder, the Note A-2-B
Holder and the Note A-2-C Holder.

 

“Note Pledgee”
shall have the meaning assigned to such term in Section 14(c).

 

“Note Register”
shall have the meaning assigned to such term in Section 15.

 

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“Notes”
shall mean, collectively, Note A-1-A, Note A-1-B, Note A-1-C, Note A-2-A, Note A-2-B and Note A-2-C.

 

“Operating Advisor”
shall mean the operating advisor appointed under the Lead Securitization Servicing Agreement.

 

“P&I Advance”
shall mean an advance made by (a) a party to the Lead Securitization Servicing Agreement in respect of a delinquent monthly debt
service payment on the Lead Securitization Note or (b) a party to any Non-Lead Securitization Servicing Agreement in respect of
a delinquent monthly debt service payment on the related Non-Lead Securitization Note.

 

“Percentage
Interest” shall mean, (a) with respect to the Note A-1-A Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-1-A Principal Balance and the denominator of which is the sum of the Note A-1-A Principal Balance, the Note
A-1-B Principal Balance, the Note A-1-C Principal Balance, the Note A-2-A Principal Balance, the Note A-2-B Principal Balance and
the Note A-2-C Principal Balance, (b) with respect to the Note A-1-B Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-1-B Principal Balance and the denominator of which is the sum of the Note A-1-A Principal Balance, the Note
A-1-B Principal Balance, the Note A-1-C Principal Balance, the Note A-2-A Principal Balance, the Note A-2-B Principal Balance and
the Note A-2-C Principal Balance, (c) with respect to the Note A-1-C Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-1-C Principal Balance and the denominator of which is the sum of the Note A-1-A Principal Balance, the Note
A-1-B Principal Balance, the Note A-1-C Principal Balance, the Note A-2-A Principal Balance, the Note A-2-B Principal Balance and
the Note A-2-C Principal Balance, (d) with respect to the Note A-2-A Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-2-A Principal Balance and the denominator of which is the sum of the Note A-1-A Principal Balance, the Note
A-1-B Principal Balance, the Note A-1-C Principal Balance, the Note A-2-A Principal Balance, the Note A-2-B Principal Balance and
the Note A-2-C Principal Balance, (e) with respect to the Note A-2-B Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-2-B Principal Balance and the denominator of which is the sum of the Note A-1-A Principal Balance, the Note
A-1-B Principal Balance, the Note A-1-C Principal Balance, the Note A-2-A Principal Balance, the Note A-2-B Principal Balance and
the Note A-2-C Principal Balance and (e) with respect to the Note A-2-C Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-2-C Principal Balance and the denominator of which is the sum of the Note A-1-A Principal Balance, the Note
A-1-B Principal Balance, the Note A-1-C Principal Balance, the Note A-2-A Principal Balance, the Note A-2-B Principal Balance and
the Note A-2-C Principal Balance.

 

“Permitted Fund
Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C attached hereto
and made a part hereof or any other nationally-recognized manager of investment funds investing in debt or equity interests relating
to commercial real estate, (ii) investing through a fund with committed capital of at least $250,000,000 and (iii) not subject
to a proceeding relating to the bankruptcy, insolvency, reorganization or relief of debtors.

 

“Pledge”
shall have the meaning assigned to such term in Section 14(c).

 

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“Pro Rata and
Pari Passu Basis” shall mean with respect to the Notes and the Note Holders, the allocation of any particular payment,
collection, cost, expense, liability or other amount between such Notes or such Note Holders, as the case may be, without any priority
of any such Note or any such Note Holder over another such Note or Note Holder, as the case may be, and in any event such that
each Note or Note Holder, as the case may be, is allocated its respective Percentage Interest of such particular payment, collection,
cost, expense, liability or other amount.

 

“Qualified Institutional
Lender” shall mean each of the Initial Note Holders and any other Person that is:

 

(a)           an
entity Controlled (as defined herein) by, under common Control with or that Controls either of the Initial Note Holders, or

 

(b)          one
or more of the following:

 

(i)          an
insurance company, bank, savings and loan association, investment bank, trust company, commercial credit corporation, pension plan,
pension fund, pension fund advisory firm, mutual fund, real estate investment trust, governmental entity or plan, or

 

(ii)         an
investment company, money management firm or a “qualified institutional buyer” within the meaning of Rule 144A under
the Securities Act of 1933, as amended, or an “accredited investor” within the meaning of Rule 501(a) (1), (2), (3)
or (7) of Regulation D under the Securities Act of 1933, as amended, or

 

(iii)        a
Qualified Trustee in connection with (a) a Securitization of, (b) the creation of collateralized debt obligations (“CLO”)
secured by, or (c) a financing through an “owner trust” of, a Note or any interest therein (any of the foregoing, a
“Securitization Vehicle”), provided that (1) one or more classes of securities issued by such Securitization
Vehicle is initially rated at least investment grade by each of the Rating Agencies that assigned a rating to one or more classes
of securities issued in connection with a Securitization (it being understood that with respect to any Rating Agency that assigned
such a rating to the securities issued by such Securitization Vehicle, a Rating Agency Confirmation will not be required in connection
with a transfer of such Note or any interest therein to such Securitization Vehicle); (2) the special servicer of such Securitization
Vehicle has a Required Special Servicer Rating or is otherwise acceptable to the Rating Agencies rating each Securitization (such
entity, an “Approved Servicer”) and such Approved Servicer is required to service and administer such Note or
any interest therein in accordance with servicing arrangements for the assets held by the Securitization Vehicle which require
that such Approved Servicer act in accordance with a servicing standard notwithstanding any contrary direction or instruction from
any other Person; or (3) in the case of a Securitization Vehicle that is a CLO, the CLO Asset Manager and, if applicable, each
Intervening Trust Vehicle that is not administered and

 

     13

     

    

 

managed by a CLO Asset Manager that is a Qualified Institutional Lender,
are each a Qualified Institutional Lender under clauses (i), (ii), (iv) or (v) of this definition, or

 

(iv)       an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $250,000,000, in which (A) any Initial Note Holder, (B) a person that is otherwise a Qualified Institutional Lender
under clause (i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause (i) or
(ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible for the
day-to-day management and operation of such investment vehicle and provided that at least 50% of the equity interests in
such investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise Qualified Institutional Lenders
(without regard to the capital surplus/equity and total asset requirements set forth below in the definition), or

 

(v)        an
institution substantially similar to any of the foregoing, and

 

in the case of any entity referred to in
clause (b)(i), (ii), (iv)(B) or (v) of this definition, (x) such entity has at least $200,000,000 in capital/statutory surplus
or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary) and at least $600,000,000 in
total assets (in name or under management), and (y) is regularly engaged in the business of making or owning commercial real estate
loans (or interests therein) similar to the Mortgage Loan (or mezzanine loans with respect thereto) or owning or operating commercial
real estate properties; provided that, in the case of the entity described in clause (iv)(B) above, the requirements of
this clause (y) may be satisfied by a general partner, managing member, or the fund manager responsible for the day-to-day management
and operation of such entity; or

 

(c)           any
entity Controlled by any of the entities described in clause (b)(i), (ii), (iv)(B) or (v) above or approved by the Rating Agencies
hereunder as a Qualified Institutional Lender for purposes of this Agreement, or as to which the Rating Agencies have stated they
would not review such entity in connection with the subject transfer.

 

“Qualified Trustee”
means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the
laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept
the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by
federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose
long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the applicable Rating
Agencies.

 

“Rating Agencies”
shall mean DBRS, Fitch, KBRA, Moody’s, Morningstar and S&P and their respective successors in interest or, if any of
such entities shall for any reason no longer perform the functions of a securities rating agency, any other nationally recognized
statistical rating agency reasonably designated by any Note Holder to rate the securities issued in

 

     14

     

    

 

connection with the Securitization
of the related Note; provided, however, that, at any time during which any Note is an asset of one or more Securitizations,
“Rating Agencies” or “Rating Agency” shall mean only those rating agencies that are engaged
from time to time to rate the securities issued in connection with the Securitizations of such Notes.

 

“Rating Agency
Confirmation” shall mean prior to a Securitization, any action that would otherwise require a Rating Agency Confirmation
shall instead require the consent of the Controlling Note Holder, which consent shall not be unreasonably withheld or delayed and
after a Securitization, the meaning given thereto or any analogous term in the Lead Securitization Servicing Agreement or Non-Lead
Securitization Servicing Agreement, as applicable, including any deemed Rating Agency Confirmation.

 

“Redirection
Notice” shall have the meaning assigned to such term in Section 14(c).

 

“Regulation
AB” shall mean Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100 - 229.1125,
as such rules may be amended from time to time, but only to the extent compliance is required as of the applicable date of determination,
and subject to such clarification and interpretation as have been provided by the SEC or by the staff of the SEC, or as may be
provided by the SEC or its staff from time to time.

 

“REMIC”
shall have the meaning assigned to such term in Section 5(e).

 

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”,
(ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special
Servicer, (iii) in the case of Moody’s, during the twelve (12) month period prior to the date of determination such special
servicer was acting as special servicer for one or more loans included in a commercial mortgage loan securitization that was rated
by Moody’s, and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial mortgage
securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special
servicer of such commercial mortgage loans, (iv) in the case of Morningstar, either (a) the applicable replacement has a special
servicer ranking of at least “MOR CS3” by Morningstar (if ranked by Morningstar) or (b) if not ranked by Morningstar,
is currently acting as a special servicer on a deal or transaction-level basis for all or a significant portion of the related
mortgage loans in other CMBS transactions rated by any of S&P, Moody’s, Morningstar, Fitch, DBRS or KBRA and the trustee
does not have actual knowledge that Morningstar has, and the replacement special servicer certifies that Morningstar has not, with
respect to any such other CMBS transaction, qualified, downgraded or withdrawn its rating or ratings on one or more classes of
such CMBS transaction citing servicing concerns of the applicable replacement as the sole or material factor in such rating action,
(v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification,
downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal)
of securities in a transaction serviced by such special servicer prior to the time of determination, and (vi) in the case of DBRS,
during the twelve (12) month period prior to the date of determination such special servicer was acting as special servicer for
one or more loans included in a commercial mortgage loan securitization that was rated by DBRS, and

 

     15

     

    

 

DBRS has not downgraded or
withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities
on watch citing the continuation of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal
of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities
in a transaction serviced by such special servicer prior to the time of determination.

 

“S&P”
shall mean S&P Global Ratings, and its successors in interest.

 

“Scheduled Interest
Payment” shall mean the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

 

“Scheduled Principal
Payment” shall mean the scheduled payment of principal due on the Mortgage Loan on a Monthly Payment Date.

 

“Securitization”
shall mean one or more sales by a Note Holder of all or a portion of such Note to a depositor, who will in turn include such portion
of such Note as part of a securitization of one or more mortgage loans.

 

“Securitization
Date” shall mean the effective date on which the Securitization of the first Note or portion thereof is consummated.

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which one or more of the Notes are held.

 

“Securitization
Vehicle” shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

 

“Servicer”
shall mean the Master Servicer or the Special Servicer, as the context may require.

 

“Servicer Termination
Event” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that
the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept
under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

 

“Servicing Advance”
shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

“Servicing Fee
Rate” shall have the meaning given thereto in the Lead Securitization Servicing Agreement (or other analogous term under
the Lead Securitization Servicing Agreement).

 

“Special Servicer”
shall mean the special servicer appointed under the Lead Securitization Servicing Agreement.

 

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“Taxes”
shall mean any income or other taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature, now or hereafter
imposed by any jurisdiction or by any department, agency, state or other political subdivision thereof or therein.

 

“Transfer”
shall have the meaning assigned to such term in Section 14.

 

“Trustee”
shall mean Wilmington Trust, National Association, or its successor in interest, or any successor Trustee appointed as provided
in the Lead Securitization Servicing Agreement.

 

“U.S. Person”
shall mean a citizen or resident of the United States, a corporation or partnership (except to the extent provided in applicable
Treasury Regulations) created or organized in or under the laws of the United States, any State thereof or the District of Columbia,
including any entity treated as a corporation or partnership for federal income tax purposes, or an estate whose income is subject
to United States federal income tax regardless of its source, or a trust if a court within the United States is able to exercise
primary supervision over the administration of such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided in applicable Treasury Regulations, a trust in existence on August
20, 1996 which is eligible to elect to be treated as a U.S. Person).

 

Section 2.     Servicing
of the Mortgage Loan.

 

(a)       Each
Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from and
after the Securitization Date pursuant to the Lead Securitization Servicing Agreement.

 

Each Note Holder acknowledges
that the other Note Holders may elect, in their sole discretion, to include their Notes in a Securitization and agrees that it
will, subject to Section 26, reasonably cooperate with such other Note Holder, at such other Note Holder’s expense, to effect
such Securitization. Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement to service the Mortgage
Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement
and applicable law, shall provide information to each Servicer under the Non-Lead Securitization Servicing Agreement to enable
each such Servicer to perform its servicing duties under the Non-Lead Securitization Servicing Agreement and shall not take any
action or refrain from taking any action or follow any direction inconsistent with the foregoing.

 

Subject to the terms
and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally consents to the appointment of the Master
Servicer, the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator and the Trustee under the Lead
Securitization Servicing Agreement by the Depositor and the appointment of the initial Special Servicer by the Controlling Note
Holder as may be replaced pursuant to the terms of the Lead Securitization Servicing Agreement and agrees to reasonably cooperate
with the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead
Securitization Servicing Agreement. Each Note Holder hereby irrevocably appoints the Master Servicer, the Special Servicer and
the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign any documents reasonably

 

     17

     

    

 

required with
respect to the administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement
(subject at all times to the rights of the Note Holder set forth herein and in the Lead Securitization Servicing Agreement).

 

In no event shall the
Lead Securitization Servicing Agreement require the Servicer to enforce the rights of any Note Holder against any other Note Holder
or limit the Servicer in enforcing the rights of one Note Holder against any other Note Holder; however, this statement shall not
be construed to otherwise limit the rights of one Note Holder with respect to any other Note Holder.

 

At any time that the
Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to
cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant
to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all
references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement;
provided, however, that if any Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation
shall have been obtained from each Rating Agency for each Securitization then outstanding with respect to which Certificates thereof
are then rated by such Rating Agency; provided, further, however, that until a replacement servicing agreement
has been entered into, the Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions
of the Lead Securitization Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage
Loan, by the Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization Note Holder, which with
respect to the master servicer shall be a qualified servicer meeting the requirements of the Lead Securitization Servicing Agreement
and with respect to the special servicer shall be an Approved Servicer.

 

The Lead Securitization
Note Holder agrees that, if any Lead Securitization Note is included in a Securitization, the related Lead Securitization Note
Holder shall cause the applicable Lead Securitization Servicing Agreement to contain a provision that requires any Lead Certificate
Administrator to deliver to each Non-Lead Trustee, each Non-Lead Certificate Administrator, each Non-Lead Special Servicer, each
Non-Lead Master Servicer, each Non-Lead Operating Advisor and each Non-Lead Asset Representations Reviewer, as applicable, promptly
following the Securitization of any Lead Securitization Note, notice of the deposit of Lead Securitization Note into a Securitization
Trust (which notice shall also provide contact information for the related Lead Trustee, the related Lead Certificate Administrator,
the related Lead Master Servicer, the related Lead Special Servicer, the related Lead Operating Advisor, the related Lead Asset
Representations Reviewer, accompanied by a certified copy of the executed Lead Securitization Servicing Agreement.

 

(b)        The
Master Servicer shall be the master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the extent provided
in the Lead Securitization Servicing Agreement) (i) shall be required to make Servicing Advances with respect to the Mortgage Loan,
subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, and (ii) may be required to make P&I
Advances on the Lead Securitization Note, if and to the extent provided in the Lead Securitization Servicing Agreement and this
Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of

 

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principal or interest
in respect of any Note other than the Lead Securitization Note if such principal or interest is not paid by the Mortgage Loan Borrower
but shall be obligated to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance
of the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Lead
Securitization Servicing Agreement including any provisions governing the determination of non-recoverability. The Master Servicer,
the Special Servicer and the Trustee, as applicable, will be entitled to reimbursement for a Servicing Advance, first from
funds on deposit in the Collection Account or Companion Distribution Account for the Mortgage Loan that (in any case) represent
amounts received on or in respect of the Mortgage Loan, and then, in the case of Nonrecoverable Servicing Advances, if such
funds on deposit in the Collection Account or Companion Distribution Account are insufficient, from general collections of the
Lead Securitization as provided in the Lead Securitization Servicing Agreement and from general collections of any Non-Lead Securitization
as provided below. The Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled to reimbursement
for any interest accrued and payable on a Servicing Advance or a Nonrecoverable Servicing Advance at the Reimbursement Rate in
the manner and from the sources provided in the Lead Securitization Servicing Agreement, including from general collections of
the Lead Securitization and, in the case of Servicing Advances, from general collections of any Non-Lead Securitization as provided
below. To the extent the Master Servicer, the Special Servicer or the Trustee, as applicable, obtains funds from general collections
of the Lead Securitization as a reimbursement for a Nonrecoverable Servicing Advance or any interest at the Reimbursement Rate
accrued and payable on a Servicing Advance or a Nonrecoverable Servicing Advance, the applicable Non-Lead Securitization Note Holder
(including, if the applicable Non-Lead Securitization Note has been included in any Non-Lead Securitization, from general collections
or any other amounts from any Non-Lead Securitization Trust) shall be required to, promptly following notice from the Master Servicer,
reimburse the Lead Securitization for its pro rata share of such Nonrecoverable Servicing Advance or any such interest accrued
and payable thereon at the Reimbursement Rate.

 

In addition, each Non-Lead
Securitization Note Holder (including, but not limited to, any Non-Lead Securitization Trust) shall be required to, promptly following
notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization for the applicable Non-Lead Securitization
Note Holder’s pro rata share of any fees, costs or expenses incurred in connection with the servicing and administration
of the Mortgage Loan as to which the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor, the Asset Representations Reviewer or the Depositor, as applicable, is entitled to be reimbursed pursuant to the Lead
Securitization Servicing Agreement and any costs, fees and expenses related to obtaining any Rating Agency Confirmation, to the
extent amounts on deposit in the Collection Account (with respect to the Mortgage Loan) or Companion Distribution Account that
are allocated to the related Non-Lead Securitization Note are insufficient for reimbursement of such amounts and to the extent
the funds from general collections in the Lead Securitization are applied towards the Lead Securitization Note Holder’s pro
rata share of the insufficiency. The Non-Lead Securitization Holders agree to indemnify (i) (as and to the same extent the
Lead Securitization Trust is required to indemnify each of the following parties in respect of other mortgage loans in the Lead
Securitization Trust pursuant to the terms of Lead Securitization Servicing Agreement) each of the Master Servicer, the Special

 

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Servicer, the Certificate Administrator, the Trustee, the Operating Advisor, the Asset Representations Reviewer and the Depositor
(and any director, officer, employee or agent of any of the foregoing, to the extent such parties are identified as indemnified
parties in the Lead Securitization Servicing Agreement in respect of other mortgage loans) and (ii) the Lead Securitization Trust
(such parties in clause (i) and the Lead Securitization Trust, collectively, the “Indemnified Parties”) against
any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities, fees
and expenses incurred in connection with the servicing and administration of the Mortgage Loan and the Mortgaged Property (or,
with respect to the Operating Advisor, incurred in connection with the provision of services for the Mortgage Loan) under the Lead
Securitization Servicing Agreement (collectively, the “Indemnified Items”) to the extent of their pro rata
share of such Indemnified Items, and to the extent amounts on deposit in the Collection Account (with respect to the Mortgage Loan)
or Companion Distribution Account that are allocated to the related Non-Lead Securitization Note are insufficient for reimbursement
of such amounts, the related Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master
Servicer, the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share
of the insufficiency (including, if the applicable Non-Lead Securitization Note has been included in any Non-Lead Securitization,
from general collections or any other amounts from such Non-Lead Securitization Trust).

 

The master servicer of
any Non-Lead Securitization (each a “Non-Lead Master Servicer”) may be required to make P&I Advances on
the related Non-Lead Securitization Note, from time to time, subject to the terms of the servicing agreement for the related Securitization
(each a “Non-Lead Securitization Servicing Agreement”) and this Agreement. The Master Servicer, the Special
Servicer and the Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a P&I
Advance to be made on the Lead Securitization Note based on the information that they have on hand and in accordance with the Lead
Securitization Servicing Agreement. The applicable Non-Lead Master Servicer and the special servicer and the trustee under any
Non-Lead Securitization Servicing Agreement (respectively, a “Non-Lead Special Servicer” and a “Non-Lead
Trustee”), as applicable, shall be entitled to make their own recoverability determination with respect to a P&I
Advance to be made on the related Non-Lead Securitization Note based on the information that they have on hand and in accordance
with the related Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and any Non-Lead
Master Servicer or any Non-Lead Trustee shall be required to notify the others of the amount of its P&I Advance within two
(2) business days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect
to the Lead Securitization Note) or any Non-Lead Master Servicer, Non-Lead Special Servicer or any Non-Lead Trustee, as applicable
(with respect to the related Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable
or an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee,
as applicable, subsequently determines that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance
is or would be non-recoverable, then the Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement,
in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or any Non-Lead
Master Servicer or any Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of
a determination of non-recoverability by any Non-Lead Master Servicer, any Non-

 

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Lead Special Servicer or any Non-Lead Trustee) shall
notify the Master Servicer and the Trustee, or any Non-Lead Master Servicer and any Non-Lead Trustee, as the case may be, of the
other Securitizations within two (2) business days of making such determination. Each of the Master Servicer, the Trustee, the
related Non-Lead Master Servicer and the related Non-Lead Trustee, as applicable, will only be entitled to reimbursement for a
P&I Advance and advance interest thereon that becomes non-recoverable first from the Collection Account or Companion
Distribution Account from amounts allocable to the Note for which such P&I Advance was made, and then, if funds are
insufficient, (i) in the case of the Lead Securitization Note, from general collections of the Lead Securitization Trust, pursuant
to the terms of the Lead Securitization Servicing Agreement and (ii) in the case of any Non-Lead Securitization Note, from general
collections of the related Securitization Trust, as and to the extent provided in the related Non-Lead Securitization Servicing
Agreement.

 

(c)        Each
Non-Lead Securitization Note Holder agrees that, if any Non-Lead Securitization Note is included in a Securitization, the related
Non-Lead Securitization Note Holder shall cause the applicable Non-Lead Securitization Servicing Agreement to contain provisions
to the effect that:

 

(i)         the
applicable Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Servicing Advances (and
advance interest thereon) and any additional trust fund expenses, but only to the extent that they relate to servicing and administration
of the Notes and the Mortgaged Property, including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and
Workout Fees relating to the Notes, and that in the event that the funds received with respect to each respective Note are insufficient
to cover such Servicing Advances or additional trust fund expenses, (A) the related Non-Lead Master Servicer will be required to,
promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse the Master Servicer, the Special Servicer,
the Certificate Administrator, the Trustee, or the Lead Securitization Trust, as applicable, out of general funds in the collection
account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization
Note Holder’s pro rata share of any such Nonrecoverable Servicing Advances (together with advance interest thereon)
and/or additional trust fund expenses (including compensation due to the Master Servicer and the Special Servicer to the extent
related to the servicing and administration of the Mortgage Loan and the Mortgaged Property), and (B) if the Lead Securitization
Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee to reimburse
itself from the general funds of the Collection Account, then the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee, as applicable, may do so, and the related Non-Lead Master Servicer will be required to, promptly following notice
from the Master Servicer, the Special Servicer or the Trustee, reimburse the Lead Securitization Trust out of general funds in
the collection account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement for such
Non-Lead Securitization Note Holder’s pro rata share of any such Nonrecoverable Servicing Advances (together with
advance interest thereon) and/or additional trust fund expenses (including compensation due to the Master Servicer and the Special
Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged Property); and

 

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(ii)          each of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required
to indemnify each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the
terms of Lead Securitization Servicing Agreement and, in the case of the Lead Securitization Trust, to the extent of any additional
trust fund expenses with respect to the Mortgage Loan) by the related Non-Lead Securitization Trust, against any of the Indemnified
Items to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in the Collection
Account or Companion Distribution Account that are allocated to the related Non-Lead Securitization Note are insufficient for reimbursement
of such amounts, the related Non-Lead Master Servicer will be required to reimburse each of the applicable Indemnified Parties
for such Non-Lead Securitization Note’s pro rata share of the insufficiency out of general funds in the collection
account (or equivalent account) established under such Non-Lead Securitization Servicing Agreement; and

 

(iii)         any Non-Lead Certificate Administrator will be required to deliver to the Trustee, the Certificate Administrator, the Special
Servicer, the Master Servicer, the Operating Advisor and the Asset Representations Reviewer (i) if not provided by such Non-Lead
Securitization Note Holder, promptly following the Securitization of any Non-Lead Securitization Note, notice of the deposit of
any Non-Lead Securitization Note into a Securitization Trust (which notice shall also provide contact information for the related
Non-Lead Trustee, the related Non-Lead Certificate Administrator, the related Non-Lead Master Servicer, the related Non-Lead Special
Servicer, the related Non-Lead Operating Advisor, the related Non-Lead Asset Representations Reviewer and the party designated
to exercise the rights of the “Non-Controlling Note Holder” under this Agreement), accompanied by a certified copy
of the executed Non-Lead Securitization Servicing Agreement and (ii) notice of any subsequent change in the identity of the related
Non-Lead Master Servicer or the party designated to exercise the rights of the “Non-Controlling Note Holder” under
this Agreement (together with the relevant contact information); and

 

(d)          The Master Servicer, the Special Servicer, the Trustee and the Lead Securitization Trust shall be third party beneficiaries
of the foregoing provisions.

 

The Lead Securitization Servicing
Agreement shall provide that compensating interest payments as defined therein with respect to Note A-1-A, Note A-1-B, Note A-1-C,
Note A-2-A, Note A-2-B and Note A-2-C will be allocated by the Master Servicer between Note A-1-A, Note A-1-B, Note A-1-C, Note
A-2-A, Note A-2-B and Note A-2-C, pro rata, in accordance with their respective principal amounts. The Master Servicer shall
remit any compensating interest payment in respect of any Non-Lead Securitization Note to the related Non-Lead Securitization Note
Holder.

 

(e)          In the event the Lead Securitization Servicing Agreement provides that as a condition precedent to any action a filing must
be made by any Non-Lead Depositor in order for the Lead Depositor to comply with the Lead Depositor’s requirements under
the Securities Exchange Act of 1934, as amended, any Non-Lead Securitization Note Holder

 

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(including any Non-Lead Depositor and
Non-Lead Trustee) shall use commercially reasonable efforts to timely comply with any such filing.

 

(f)           The Note A-1-B Holder, Note A-1-C Holder, Note A-2-A Holder, Note A-2-B Holder and Note A-2-C Holder, as applicable, shall
give each of the parties to the Lead Securitization Servicing Agreement (that will not also be a party to any Non-Lead Securitization
Servicing Agreement) notice of the Note A-1-B Securitization, Note A-1-C Securitization, Note A-2-A Securitization, Note A-2-B
Securitization or Note A-2-C Securitization, respectively, in writing (which may be by e-mail) prior to or promptly following the
related Note A-1-B Securitization Date, Note A-1-C Securitization Date, Note A-2-A Securitization Date, Note A-2-B Securitization
Date or Note A-2-C Securitization Date, respectively. Such notice shall contain contact information for each of the parties to
any Non-Lead Securitization Servicing Agreement. In addition, after the related Note A-1-B Securitization Date, Note A-1-C Securitization
Date, Note A-2-A Securitization Date, Note A-2-B Securitization Date or Note A-2-C Securitization Date, the Note A-1-B Holder,
the Note A-1-C Holder, the Note A-2-A Holder, the Note A-2-B Holder or the Note A-2-C Holder, as applicable, shall send a copy
of the related Non-Lead Securitization Servicing Agreement to each of the parties to the Lead Securitization Servicing Agreement.

 

(g)          The Lead Securitization Servicing Agreement shall provide that if a Non-Lead Securitization Note becomes the subject
of an Asset Review pursuant to any related Non-Lead Securitization Servicing Agreement, the Master Servicer, the Special Servicer,
the Trustee and the Certificate Administrator shall reasonably cooperate with such Non-Lead Asset Representations Reviewer in connection
with such Asset Review by providing such Non-Lead Asset Representations Reviewer with any documents reasonably requested by such
Non-Lead Asset Representations Reviewer, but only to the extent that such documents are in the possession of the Master Servicer,
the Special Servicer, the Trustee or the Certificate Administrator, as the case may be, and are not in the possession of the Non-Lead
Asset Representations Reviewer, Non-Lead Master Servicer, Non-Lead Special Servicer or custodian, and not subject to any confidentiality
provisions, as the case may be, but in any event excluding any documents known to the Master Servicer, the Special Servicer, the
Trustee or the Custodian to contain information that is proprietary to the related originator or mortgage loan seller or any draft
documents or privileged or internal communications.

 

Section 3.     Priority of Payments. Each Note shall be of equal priority, and no portion of any Note shall have priority or preference
over any portion of any other Note or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available
for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds
thereof, whether received in the form of Monthly Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty,
letter of credit or other collateral or instrument securing the Mortgage Loan, or Insurance and Condemnation Proceeds (other than
proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage
Loan Borrower in accordance with the terms of the Mortgage Loan Documents), but excluding (x) all amounts for required reserves
or escrows required by the Mortgage Loan Documents (to the extent, in accordance with the terms of the Mortgage Loan Documents)
to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection

 

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expenses
or Servicing Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing
Agreement and (y) all amounts that are then due, payable or reimbursable (except for (i) any reimbursements of P&I Advances
(and interest thereon) made with respect to Note A-1-A, Note A-1-B, Note A-1-C, Note A-2-A, Note A-2-B or Note A-2-C which may
only be reimbursed out of payments and collections allocable to Note A-1-A, Note A-1-B, Note A-1-C, Note A-2-A, Note A-2-B or Note
A-2-C, as applicable, (ii) any Servicing Fees due to the Master Servicer in excess of any Non-Lead Securitization Note’s
pro rata share of that portion of such Servicing Fees calculated at the Servicing Fee Rate applicable to the Mortgage Loan
as set forth in the Lead Securitization Servicing Agreement) to any Servicer (or the Trustee as successor to the Servicer), with
respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement (including without limitation, any additional
trust fund expenses relating to the Mortgage Loan (but subject to second paragraph of Section 5(d) hereof) and any Special Servicing
Fees, Liquidation Fees, Workout Fees, Penalty Charges (to the extent provided in the immediately following paragraph), amounts
paid by the Borrower in respect of modification fees or assumption fees and any other additional compensation payable pursuant
to the Lead Securitization Servicing Agreement), shall be applied by the Lead Securitization Note Holder (or its designee) to the
Notes on a Pro Rata and Pari Passu Basis.

 

For clarification purposes, Penalty
Charges (as defined in the Lead Securitization Servicing Agreement) paid shall be allocated to the Notes on a Pro Rata and Pari
Passu Basis and applied first, to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary
to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Servicing Advances and reimbursement
of any Servicing Advances in accordance with the terms of the Lead Securitization Servicing Agreement, second, to reduce,
on a pro rata basis, the respective amounts payable on each Note by the amount necessary to pay the Master Servicer, Trustee,
any Non-Lead Master Servicer or any Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to such
Note by such party (if and as specified in the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing
Agreement, as applicable), third, to reduce, on a pro rata basis, the amounts payable on each Note by the amount
necessary to pay additional trust fund expenses (other than Special Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred
with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and finally, (i) in the
case of the remaining amount of Penalty Charges allocable to the Lead Securitization Note, be paid to the Master Servicer and/or
the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement and (ii) in
the case of the remaining amount of Penalty Charges allocable to any Non-Lead Securitization Note, be paid, (x) prior to the securitization
of such Note, to the related Non-Lead Securitization Note Holder and (y) following the securitization of such Note, to the Master
Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement.

 

Section 4.     Workout. Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the
Lead Securitization Servicing Agreement, and the obligation to act in accordance with the Servicing Standard, if the Lead Securitization
Note Holder, or any Servicer, in connection with a workout or proposed workout of the Mortgage Loan, modifies the terms thereof
such that (i) the principal balance of the Mortgage Loan is decreased, (ii) the Interest Rate is reduced, (iii) payments of interest
or principal on any

 

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Note are waived, reduced or deferred or (iv) any other adjustment is made to any of the payment terms of the
Mortgage Loan, such modification shall not alter, and any modification of the Mortgage Loan Documents shall be structured to preserve,
the equal priorities of each Note as described in Section 3.

 

Section 5.     Administration of the Mortgage Loan.

 

(a)          Subject to this Agreement and the Lead Securitization Servicing Agreement and subject to the rights and consents, where
required, of the Controlling Note Holder Representative, the Lead Securitization Note Holder (or the Master Servicer, the Special
Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) shall have the sole and exclusive authority with
respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including, without limitation,
the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or consent to any action or failure to act
by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call or waive any Event of Default, accelerate
the Mortgage Loan or institute any foreclosure action or other remedy, and the Non-Lead Securitization Note Holders shall have
no voting, consent or other rights whatsoever except as explicitly set forth herein with respect to the Lead Securitization Note
Holder’s administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan. Subject to this Agreement
and the Lead Securitization Servicing Agreement, the Non-Lead Securitization Note Holders agree that they shall have no right to,
and hereby presently and irrevocably assign and convey to the Lead Securitization Note Holder (or the Master Servicer, the Special
Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) the rights, if any, that such Note Holders have
to, (i) call or cause the Lead Securitization Note Holder to call an Event of Default under the Mortgage Loan, or (ii) exercise
any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing or causing
the Lead Securitization Note Holder to file any bankruptcy petition against the Mortgage Loan Borrower. The Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder)
shall not have any fiduciary duty to the Non-Lead Securitization Note Holders in connection with the administration of the Mortgage
Loan (but the foregoing shall not relieve the Lead Securitization Note Holder from the obligation to make any disbursement of funds
as set forth herein or its obligation to follow the Servicing Standard (in the case of the Master Servicer or the Special Servicer)
or any liability for failure to do so).

 

Upon the Mortgage Loan becoming
a Defaulted Loan, the Non-Lead Securitization Note Holders hereby acknowledge the right and obligation of the Lead Securitization
Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) to sell the Non-Lead Securitization
Notes together with the Lead Securitization Note as notes evidencing one whole loan in accordance with the terms of the Lead Securitization
Servicing Agreement.

 

In connection with any such sale,
the Special Servicer shall be required to sell any Non-Lead Securitization Note together with the Lead Securitization Note in the
manner set forth in the Lead Securitization Servicing Agreement and shall be required to require that all offers be submitted to
the Certificate Administrator or Special Servicer, as applicable, in accordance with the terms of the Lead Securitization Servicing
Agreement in writing and be accompanied by a

 

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refundable deposit of cash in an amount equal to 5% of the offer amount (subject to
a cap of $2,500,000). Whether any cash offer constitutes a fair price for the Mortgage Loan shall be determined by the Trustee
or Special Servicer, as applicable, in accordance with the terms of the Lead Securitization Servicing Agreement; provided,
that no offer from an Interested Person shall constitute a fair price unless (i) it is the highest offer received and (ii) at
least two bona fide other offers are received from independent third parties. In determining whether any offer received from an
Interested Person represents a fair price for the Mortgage Loan, the Trustee shall be supplied with and shall rely on the most
recent Appraisal or updated Appraisal conducted in accordance with the Lead Securitization Servicing Agreement within the preceding
nine (9) month period or, in the absence of any such Appraisal, on a new Appraisal. The Trustee shall select the Appraiser
conducting any such new Appraisal. In determining whether any such offer constitutes a fair price for the Mortgage Loan, the Trustee
shall instruct the Appraiser to take into account (in addition to the results of any Appraisal or updated Appraisal that it may
have obtained pursuant to the Lead Securitization Servicing Agreement), as applicable, among other factors, the period and amount
of any delinquency on the affected Mortgage Loan, the occupancy level and physical condition of the related Mortgaged Property
and the state of the local economy. The Trustee may conclusively rely on the opinion of an Independent appraiser or other Independent
expert in real estate matters retained by the Trustee at the expense of the Holders in connection with making such determination.

 

Notwithstanding the foregoing,
the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) shall not
be permitted to sell the Mortgage Loan if it becomes a Defaulted Loan without the written consent of the Non-Lead Securitization
Note Holders (provided that such consent is not required if any Non-Lead Securitization Note Holder is the Mortgage Loan
Borrower or an affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered to the Non-Lead Securitization
Note Holders: (a) at least fifteen (15) Business Days’ prior written notice of any decision to attempt to sell the Mortgage
Loan; (b) at least ten (10) days prior to the proposed sale date, a copy of each bid package (together with any material amendments
to such bid packages) received by the Special Servicer in connection with any such proposed sale, (c) at least ten (10) days prior
to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents in the Servicing File reasonably
requested by any Non-Lead Securitization Note Holder that are material to the sale price of the Mortgage Loan and (d) until the
sale is completed, and a reasonable period of time (but no less time than is afforded to the other offerors and the Lead Securitization
Subordinate Class Representative) prior to the proposed sale date, all information and other documents being provided to other
offerors and all leases or other documents that are approved by any Servicer in connection with the proposed sale; provided,
that such Non-Lead Securitization Note Holders may waive any of the delivery or timing requirements set forth in this sentence.

 

Subject to the terms of the Lead
Securitization Servicing Agreement, each of the Controlling Note Holder, the Controlling Note Holder Representative, the Non-Controlling
Note Holders and the applicable Non-Controlling Note Holder Representative shall be permitted to bid at any sale of the Mortgage
Loan unless such Person is the Mortgage Loan Borrower or an agent or Affiliate of the Mortgage Loan Borrower.

 

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The Non-Lead Securitization Note
Holders hereby appoint the Lead Securitization Note Holder as their agent, and grant to the Lead Securitization Note Holder an
irrevocable power of attorney coupled with an interest, and their proxy, for the purpose of soliciting and accepting offers for
and consummating the sale of Non-Lead Securitization Notes. The Non-Lead Securitization Note Holders further agree that, upon the
request of the Lead Securitization Note Holder, the Non-Lead Securitization Note Holders shall execute and deliver to or at the
direction of Lead Securitization Note Holder such powers of attorney or other instruments as the Lead Securitization Note Holder
may reasonably request to better assure and evidence the foregoing appointment and grant, in each case promptly following request,
and shall deliver the original Non-Lead Securitization Note, endorsed in blank, to or at the direction of the Lead Securitization
Note Holder in connection with the consummation of any such sale.

 

The authority of the Lead Securitization
Note Holder to sell any Non-Lead Securitization Note, and the obligations of the Non-Lead Securitization Note Holders to execute
and deliver instruments or deliver any Non-Lead Securitization Note upon request of the Lead Securitization Note Holder, shall
terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization Note is repurchased
by the Initial Note A-1-A Holder from the trust fund established under the Lead Securitization Servicing Agreement in connection
with a material breach of representation or warranty made by the Initial Note A-1-A Holder with respect to Lead Securitization
Note or material document defect with respect to the documents delivered by the Initial Note A-1-A Holder with respect to the Lead
Securitization Note upon the consummation of the Lead Securitization. The preceding sentence shall not be construed to grant to
the Non-Lead Securitization Note Holders the benefit of any representation or warranty made by the Initial Note A-1-A Holder or
any document delivery obligation imposed on the Initial Note A-1-A Holder under any mortgage loan purchase and sale agreement,
instrument of transfer or other document or instrument that may be executed or delivered by the Initial Note A-1-A Holder in connection
with the Lead Securitization.

 

(b)          The administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement.
The servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced
Loan (or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case
pursuant to the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance
with the Lead Securitization Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer and the Special
Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests
of the Note Holders as a collective whole. The Note Holders agree to be bound by the terms of the Lead Securitization Servicing
Agreement. All rights and obligations of the Lead Securitization Note Holder described hereunder may be exercised by the Master
Servicer, the Special Servicer, the Certificate Administrator and/or the Trustee on behalf of the Lead Securitization Note Holder.
The Lead Securitization Servicing Agreement shall not be amended in any manner that may adversely affect any Non-Lead Securitization
Note Holder in its capacity as Non-Lead Securitization Note Holder without the related Non-Lead Securitization Note Holder’s
prior written consent. Each Non-Lead Securitization Note Holder (unless it is the same Person as or an Affiliate of the Mortgage
Loan Borrower) shall be a third-party beneficiary to the Lead

 

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Securitization Servicing Agreement with respect to their rights as
specifically provided for therein.

 

(c)          The Controlling Note Holder (or its Controlling Note Holder Representative) shall have, with respect to the Mortgage Loan,
all of the same rights and powers of the Controlling Class Representative under the Lead Securitization Servicing Agreement with
respect to the other mortgage loans included in the Lead Securitization, including without limitation, the right to consent and/or
consult regarding Major Decisions and other servicing matters, the right to advise (1) the Special Servicer with respect to all
Specially Serviced Loans and (2) the Special Servicer with respect to non-Specially Serviced Loans as to all matters for which
the Master Servicer must obtain the consent or deemed consent of the Special Servicer, and the right to direct the Special Servicer
to take, or to refrain from taking, such other actions with respect to the Mortgage Loan as the Controlling Class Representative
may deem advisable or as to which provision is otherwise made therein, in each case subject to the terms and conditions of the
Lead Securitization Servicing Agreement.

 

(d)          Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting
on its behalf) shall be required (i) to provide copies of any notice, information and report that it is required to provide to
the Lead Securitization Subordinate Class Representative pursuant to the Lead Securitization Servicing Agreement with respect to
any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage
Loan, to each Non-Lead Securitization Note Holder (or its Non-Lead Securitization Subordinate Class Representative), within the
same time frame it is required to provide to the Lead Securitization Subordinate Class Representative (for this purpose, without
regard to whether such items are actually required to be provided to the Lead Securitization Subordinate Class Representative under
the Lead Securitization Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation Termination
Event) and (ii) to consult with each Non-Lead Securitization Note Holder (or its Non-Lead Securitization Subordinate Class Representative)
on a strictly non-binding basis, to the extent having received such notices, information and reports, such related Non-Lead Securitization
Note Holder (or its Non-Lead Securitization Subordinate Class Representative) requests consultation with respect to any such Major
Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and
consider alternative actions recommended by the related Non-Lead Securitization Note Holder (or its Non-Lead Securitization Subordinate
Class Representative); provided that after the expiration of a period of ten (10) Business Days from the delivery to a Non-Lead
Securitization Note Holder (or its Non-Lead Securitization Subordinate Class Representative) by the Lead Securitization Note Holder
of written notice of a proposed action, together with copies of the notice, information and report required to be provided to the
Lead Securitization Subordinate Class Representative, the Lead Securitization Note Holder (or the Master Servicer or the Special
Servicer acting on its behalf) shall no longer be obligated to consult with such Non-Lead Securitization Note Holder (or its Non-Lead
Securitization Subordinate Class Representative), whether or not such Non-Lead Securitization Note Holder (or its Non-Lead Securitization
Subordinate Class Representative) has responded within such ten (10) Business Day period (unless, the Lead Securitization Note
Holder (or the Master Servicer or the Special Servicer acting on its behalf) proposes a new course of action that is materially
different from the action previously proposed, in which case such ten (10) Business

 

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Day period shall be deemed to begin anew from
the date of such proposal and delivery of all information relating thereto). Notwithstanding the consultation rights of any Non-Lead
Securitization Note Holder (or its Non-Lead Securitization Subordinate Class Representative) set forth in the immediately preceding
sentence, the Lead Securitization Note Holder (or Servicer or Special Servicer, acting on its behalf) may make any Major Decision
or take any action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period
if the Lead Securitization Note Holder (or Master Servicer or Special Servicer, as applicable) determines that immediate action
with respect thereto is necessary to protect the interests of the Note Holders. In no event shall the Lead Securitization Note
Holder (or Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or take any alternative actions
recommended by any Non-Lead Securitization Note Holder (or its Non-Lead Securitization Subordinate Class Representative).

 

In addition to the consultation
rights of a Non-Lead Securitization Note Holder (or its Non-Lead Securitization Subordinate Class Representative) provided in the
immediately preceding paragraph, each Non-Lead Securitization Note Holder shall have the right to attend annual meetings (either
telephonically or in person, in the discretion of the Servicer) with the Lead Securitization Note Holder (or the Master Servicer
or the Special Servicer acting on its behalf) at the offices of the Master Servicer or the Special Servicer, as applicable, upon
reasonable notice and at times reasonably acceptable to the Master Servicer or the Special Servicer, as applicable, in which servicing
issues related to the Mortgage Loan are discussed; provided that each Non-Lead Securitization Note Holder, at the request
of the Master Servicer or the Special Servicer, as applicable, shall execute a confidentiality agreement in form and substance
satisfactory to it, the Master Servicer or the Special Servicer, as applicable, and the Lead Securitization Note Holder.

 

(e)          If any Note is included as an asset of a real estate mortgage investment conduit (a “REMIC”), within
the meaning of Section 860D(a) of the Code, then, any provision of this Agreement to the contrary notwithstanding: (i) the
Mortgage Loan shall be administered such that the Notes shall qualify at all times as (or as interests in) a “qualified mortgage”
within the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired
by or on behalf of the Note Holders pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure
of the Mortgage or lien on such property following a default on the Mortgage Loan shall be administered so that the interest of
the pro rata share of each Note Holder therein shall at all times qualify as “foreclosure property” within the
meaning of Section 860G(a)(8) of the Code and (iii) no Servicer may modify, waive or amend any provision of the Mortgage
Loan, consent to or withhold consent from any action of the Mortgage Loan Borrower, or exercise or refrain from exercising any
powers or rights which the Note Holders may have under the Mortgage Loan Documents, if any such action would constitute a “significant
modification” of the Mortgage Loan, within the meaning of Section 1.860G-2(b) of the regulations of the United States
Department of the Treasury, more than three (3) months after the startup day of the REMIC which includes the Notes (or any portion
thereof). Each Note Holder agrees that the provisions of this paragraph shall be effected by compliance with any REMIC provisions
in the Lead Securitization Servicing Agreement relating to the administration of the Mortgage Loan.

 

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Anything herein or in the Lead
Securitization Servicing Agreement to the contrary notwithstanding, in the event that one of the Notes is included in a REMIC and
any other is not, such other Note Holder shall not be required to reimburse such Note Holder or any other Person for payment of
(i) any taxes imposed on such REMIC, (ii) any costs or expenses relating to the administration of such REMIC or to any determination
respecting the amount, payment or avoidance of any tax under such REMIC or (iii) any advances for any of the foregoing or any interest
thereon or for deficits in other items of disbursement or income resulting from the use of funds for payment of any such taxes,
costs or expenses or advances, nor shall any disbursement or payment otherwise distributable to the other Note Holders be reduced
to offset or make-up any such payment or deficit.

 

Section 6.     Appointment of Controlling Note Holder Representative and Non-Controlling Note Holder Representative.

 

(a)          The Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise
of its rights and obligations with respect to the Mortgage Loan (the “Controlling Note Holder Representative”).
The Controlling Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace
the Controlling Note Holder Representative in accordance with the terms of the Lead Securitization Servicing Agreement. When exercising
its various rights under Section 5 and elsewhere in this Agreement, the Controlling Note Holder may, at its option, in each
case, act through the Controlling Note Holder Representative. The Controlling Note Holder Representative may be any Person (other
than the Mortgage Loan Borrower, its principal or any Affiliate of the Mortgage Loan Borrower), including, without limitation,
the Controlling Note Holder, any officer or employee of the Controlling Note Holder, any affiliate of the Controlling Note Holder
or any other unrelated third party. No such Controlling Note Holder Representative shall owe any fiduciary duty or other duty to
any other Person (other than the Controlling Note Holder). All actions that are permitted to be taken by the Controlling Note Holder
under this Agreement may be taken by the Controlling Note Holder Representative acting on behalf of the Controlling Note Holder.
No Servicer, Operating Advisor, Asset Representations Reviewer, Trustee or Certificate Administrator acting on behalf of the Lead
Securitization Note Holder shall be required to recognize any Person as a Controlling Note Holder Representative until the Controlling
Note Holder has notified each Servicer, Operating Advisor, Asset Representations Reviewer, Trustee and Certificate Administrator
of such appointment and, if the Controlling Note Holder Representative is not the same Person as the Controlling Note Holder, the
Controlling Note Holder Representative provides each Servicer, Operating Advisor, Asset Representations Reviewer, Trustee and Certificate
Administrator with written confirmation of its acceptance of such appointment, an address and facsimile number for the delivery
of notices and other correspondence and a list of officers or employees of such person with whom the parties to this Agreement
may deal (including their names, titles, work addresses and facsimile numbers). The Controlling Note Holder shall promptly deliver
such information to each Servicer, Operating Advisor, Asset Representations Reviewer, Trustee and Certificate Administrator. So
long as no Consultation Termination Event (including any such deemed event) is in effect pursuant to the terms of the Lead Securitization
Servicing Agreement, the Controlling Note Holder Representative shall be the Lead Securitization Subordinate Class Representative.

 

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(b)          Neither the Controlling Note Holder Representative nor the Controlling Note Holder will have any liability to the other
Note Holders or any other Person for any action taken, or for refraining from the taking of any action or the giving of any consent
or the failure to give any consent pursuant to this Agreement or the Lead Securitization Servicing Agreement, or errors in judgment,
absent any loss, liability or expense incurred by reason of its willful misfeasance, bad faith or gross negligence. The Note Holders
agree that the Controlling Note Holder Representative and the Controlling Note Holder (whether acting in place of the Controlling
Note Holder Representative when no Controlling Note Holder Representative shall have been appointed hereunder or otherwise exercising
any right, power or privilege granted to the Controlling Note Holder hereunder) may take or refrain from taking actions, or give
or refrain from giving consents, that favor the interests of one Note Holder over the other Note Holders, and that the Controlling
Note Holder Representative may have special relationships and interests that conflict with the interests of a Note Holder and,
absent willful misfeasance, bad faith or gross negligence on the part of the Controlling Note Holder Representative or the Controlling
Note Holder, as the case may be, agree to take no action against the Controlling Note Holder Representative, the Controlling Note
Holder or any of their respective officers, directors, employees, principals or agents as a result of such special relationships
or interests, and that neither the Controlling Note Holder Representative nor the Controlling Note Holder will be deemed to have
been grossly negligent or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have recklessly disregarded
any exercise of its rights by reason of its having acted or refrained from acting, or having given any consent or having failed
to give any consent, solely in the interests of any Note Holder.

 

(c)          Each Non-Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise
of its rights and obligations with respect to the Mortgage Loan (each a “Non-Controlling Note Holder Representative”).
All of the provisions relating to the Controlling Note Holder and the Controlling Note Holder Representative set forth in Section
6(a) (except those contained in the last sentence thereof) and Section 6(b) shall apply to the Non-Controlling Note Holders and
the related Non-Controlling Note Holder Representatives mutatis mutandis. The Non-Controlling Note Holder Representatives,
as of the date of this Agreement and until the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer)
is notified otherwise, shall be the Note A-1-B Holder, the Note A-1-C Holder, the Note A-2-A Holder, the Note A-2-B Holder and
the Note A-2-C Holder.

 

(d)          The Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Lead Securitization Note
hereunder and the rights and powers granted to the “Controlling Class Representative” or similar party under,
and as defined in, the Lead Securitization Servicing Agreement with respect to the Mortgage Loan. In addition, the Controlling
Note Holder shall be entitled to advise (1) the Special Servicer with respect to all matters related to a “Specially
Serviced Loan” (as defined in the Lead Securitization Servicing Agreement) and (2) the Special Servicer with respect
to all matters for which the Master Servicer must obtain the consent or deemed consent of the Special Servicer, and, except as
set forth below (i) the Master Servicer shall not be permitted to implement any Major Decision unless it has obtained the
prior written consent of the Special Servicer and (ii) the Special Servicer shall not be permitted to consent to the Master
Servicer’s implementing any Major Decision nor will the Special Servicer itself be permitted to implement any Major Decision
as

 

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to which the Controlling Note Holder has objected in writing within ten (10) Business Days (or 30 days with respect to
an Acceptable Insurance Default if so provided for in the Lead Securitization Servicing Agreement) after receipt of the written
recommendation and analysis and such additional information requested by the Controlling Note Holder as may be necessary in the
reasonable judgment of the Controlling Note Holder in order to make a judgment with respect to such Major Decision. The Controlling
Note Holder may also direct the Special Servicer to take, or to refrain from taking, such other actions with respect to the Mortgage
Loan as the Controlling Note Holder may deem advisable.

 

If the Controlling Note Holder
fails to notify the Special Servicer of its approval or disapproval of any proposed Major Decision within ten (10) Business Days
(or five (5) Business Days if the Controlling Note Holder and the Special Servicer are affiliates or 30 days with respect to an
Acceptable Insurance Default if so provided in the Lead Securitization Servicing Agreement) after delivery to the Controlling Note
Holder by the applicable Servicer of written notice of a proposed Major Decision, then the Controlling Note Holder will be deemed
to have approved such action.

 

In the event that the Special
Servicer or Master Servicer (in the event the Master Servicer is otherwise authorized by the Lead Securitization Servicing Agreement
to take such action), as applicable, determines that immediate action, with respect to the foregoing matters, or any other matter
requiring consent of the Controlling Note Holder is necessary to protect the interests of the Note Holders (as a collective whole)
and the Special Servicer has made a reasonable effort to contact the Controlling Note Holder, the Master Servicer or the Special
Servicer, as the case may be, may take any such action without waiting for the Controlling Note Holder’s response.

 

No objection contemplated by
the preceding paragraphs may require or cause the Master Servicer or the Special Servicer, as applicable, to violate any provision
of the Mortgage Loan Documents, applicable law, the Lead Securitization Servicing Agreement, this Agreement, the REMIC provisions
of the Code or the Master Servicer or Special Servicer’s obligation to act in accordance with the Servicing Standard or materially
expand the scope of responsibilities of any of the Master Servicer or Special Servicer, as applicable.

 

The Controlling Note Holder shall
have no liability to the other Note Holders or any other party for any action taken, or for refraining from the taking of any action
or the giving of any consent or the failure to give any consent pursuant to this Agreement or the Lead Securitization Servicing
Agreement, or errors in judgment, absent any loss, liability or expense incurred by reason of its willful misfeasance, bad faith
or gross negligence. The Note Holders agree that the Controlling Note Holder may take or refrain from taking actions, or give or
refrain from giving consents, that favor the interests of one Note Holder over the other Note Holders, and that the Controlling
Note Holder may have special relationships and interests that conflict with the interests of another Note Holder and, absent willful
misconduct, bad faith or gross negligence on the part of the Controlling Note Holder agree to take no action against the Controlling
Note Holder or any of its officers, directors, employees, principals or agents as a result of such special relationships or interests,
and that the Controlling Note Holder shall not be deemed to have been grossly negligent or reckless, or to have acted in bad faith
or engaged in willful misconduct or to have recklessly disregarded any exercise of its rights by reason of its

 

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having acted or
refrained from acting, or having given any consent or having failed to give any consent, solely in the interests of any Note Holder.

 

Section 7.     Appointment of Special Servicer. Subject to the terms of the Lead Securitization Servicing Agreement, the Controlling
Note Holder (or its Controlling Note Holder Representative) shall have the right at any time and from time to time, with or without
cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special Servicer
in lieu thereof. Any designation by the Controlling Note Holder (or its Controlling Note Holder Representative) of a Person to
serve as Special Servicer shall be made by delivering to the other Note Holders, the Master Servicer, the then existing Special
Servicer and other parties to the Lead Securitization Servicing Agreement a written notice stating such designation and satisfying
the other conditions to such replacement as set forth in the Lead Securitization Servicing Agreement (including, without limitation,
a Rating Agency Confirmation, if required by the terms of the Lead Securitization Servicing Agreement), if any. The Controlling
Note Holder shall be solely responsible for any expenses incurred in connection with any such replacement without cause. The Controlling
Note Holder shall notify the other parties hereto of its termination of the then currently serving Special Servicer and its appointment
of a replacement Special Servicer in accordance with this Section 7. If the Controlling Note Holder has not appointed a Special
Servicer with respect to the Mortgage Loan as of the consummation of the securitization under the Lead Securitization Servicing
Agreement, then the initial Special Servicer designated in the Lead Securitization Servicing Agreement shall serve as the initial
Special Servicer but this shall not limit the right of the Controlling Note Holder (or its Controlling Note Holder Representative)
to designate a replacement Special Servicer for the Mortgage Loan as aforesaid.

 

If a Servicer Termination Event
on the part of the Special Servicer has occurred that affects a Non-Controlling Note Holder, such Non-Controlling Note Holder shall
have the right to direct the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust, the
Controlling Note Holder) to terminate the Special Servicer under the Lead Securitization Servicing Agreement (or at any time that
the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the successor servicing
agreement pursuant to which the Mortgage Loan is being serviced) solely with respect to the Mortgage Loan pursuant to and in accordance
with the terms of the Lead Securitization Servicing Agreement (or at any time that the Mortgage Loan is no longer subject to the
provisions of the Lead Securitization Servicing Agreement, the successor servicing agreement pursuant to which the Mortgage Loan
is being serviced). The Controlling Note Holder and the Non-Controlling Note Holders acknowledge and agree that any successor special
servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated for cause at any Non-Controlling
Note Holder’s direction cannot at any time be the person (or an Affiliate thereof) that was so terminated without the prior
written consent of such Non-Controlling Note Holder. The applicable Non-Controlling Note Holder shall be solely responsible for
reimbursing the Trustee’s or the Controlling Note Holder’s, as applicable, costs and expenses, if not paid within a
reasonable time by the terminated special servicer and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee
from amounts on deposit in the Collection Account or Companion Distribution Account.

 

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Section 8.     Payment Procedure.

 

(a)          The Lead Securitization Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms
of the Lead Securitization Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Note A-1-A,
Note A-1-B, Note A-1-C, Note A-2-A, Note A-2-B and Note A-2-C to the Collection Account or Companion Distribution Account, as applicable,
pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master
Servicer acting on its behalf) shall (i) deposit such amounts to the applicable account within two (2) Business Days after receipt
of properly identified funds by the Lead Securitization Note Holder (or the Master Servicer acting on its behalf) from or on behalf
of the Mortgage Loan Borrower and (ii) remit from the applicable account, (A) prior to the Securitization Date, within two (2)
Business Days of receipt of properly identified funds (unless otherwise specified pursuant to an interim servicing agreement) and
(B) on or after the Securitization Date, (1) with respect to the Lead Securitization Notes, the remittance date under the Lead
Securitization Servicing Agreement for the Lead Securitization Notes and (2) with respect to each Non-Lead Securitization Note,
(x) prior to the Non-Lead Securitization, the remittance date under the Lead Securitization Servicing Agreement for the Lead Securitization
Notes and (y) on or after the Non-Lead Securitization, the earlier of the remittance date under the Lead Securitization Servicing
Agreement and the business day immediately succeeding the “determination date” set forth in the related Non-Lead Securitization
Servicing Agreement for such Non-Lead Securitization Note, all payments received and allocable pursuant to this Agreement and the
Lead Securitization Servicing Agreement with respect to the Non-Lead Securitization Notes (net of amounts payable or reimbursable
from such account) by wire transfer to accounts maintained by the applicable Note Holder.

 

(b)          If the Lead Securitization Note Holder determines, or a court of competent jurisdiction orders, at any time that any amount
received or collected in respect of any Note must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or
similar law, be returned to the Mortgage Loan Borrower or paid to the Lead Securitization Note Holder, any Non-Lead Securitization
Note Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, the Lead
Securitization Note Holder shall not be required to distribute any portion thereof to the related Non-Lead Securitization Note
Holder and the related Non-Lead Securitization Note Holder will promptly on demand by the Lead Securitization Note Holder repay
to the Lead Securitization Note Holder any portion thereof that the Lead Securitization Note Holder shall have theretofore distributed
to such Non-Lead Securitization Note Holder, together with interest thereon at such rate, if any, as the Lead Securitization Note
Holder shall have been required to pay to any Mortgage Loan Borrower, Master Servicer, Special Servicer or such other Person with
respect thereto.

 

(c)          If, for any reason, the Lead Securitization Note Holder makes any payment to any Non-Lead Securitization Note Holder before
the Lead Securitization Note Holder has received the corresponding payment (it being understood that the Lead Securitization Note
Holder is under no obligation to do so), and the Lead Securitization Note Holder does not receive the corresponding payment within
five (5) Business Days of its payment to the applicable Non-Lead Securitization Note Holder, the related Non-Lead

 

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Securitization
Note Holder shall, at the Lead Securitization Note Holder’s request, promptly return that payment to the Lead Securitization
Note Holder.

 

(d)          Each Note Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage
Loan in excess of its distributable share thereof, it shall promptly remit such excess to the applicable Note Holder, subject to
this Agreement and the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder shall have the right to offset
any amounts due hereunder from any Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments
due to such Non-Lead Securitization Note Holder under the Mortgage Loan. Such Non-Lead Securitization Note Holder’s obligations
under this Section 8 constitute absolute, unconditional and continuing obligations.

 

Section 9.     Limitation on Liability of the Note Holders. Subject to the terms of the Lead Securitization Servicing Agreement
governing Servicer liability, each Note Holder shall have no liability to the other Note Holders with respect to its Note except
with respect to losses actually suffered due to the gross negligence, willful misconduct or breach of this Agreement on the part
of such Note Holder.

 

The Note Holders acknowledge
that, subject to the obligation of the Lead Securitization Note Holder (including any Servicer and the Trustee) to comply with,
and except as otherwise required by, the Servicing Standard, the Lead Securitization Note Holder (including any Servicer and the
Trustee) may exercise, or omit to exercise, any rights that the Lead Securitization Note Holder may have under the Lead Securitization
Servicing Agreement in a manner that may be adverse to the interests of the Non-Lead Securitization Note Holders and that the Lead
Securitization Note Holder (including any Servicer and the Trustee) shall have no liability whatsoever to any Non-Lead Securitization
Note Holder in connection with the Lead Securitization Note Holder’s exercise of rights or any omission by the Lead Securitization
Note Holder to exercise such rights other than as described above; provided, however, that the Servicer must act
in accordance with the Servicing Standard.

 

Section 10.    Bankruptcy. Subject to Section 5(c), each Note Holder hereby covenants and agrees that only the Lead Securitization
Note Holder has the right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise
or join any Person in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding with respect
to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator
or other similar official with respect to the Mortgage Loan Borrower or all or any part of its property or assets or ordering the
winding-up or liquidation of the affairs of the Mortgage Loan Borrower. Each Note Holder further agrees that only the Lead Securitization
Note Holder, and not any Non-Lead Securitization Note Holder, can make any election, give any consent, commence any action or file
any motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower
under the Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders hereby appoint the Lead Securitization Note Holder
as their agent, and grant to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and
their proxy, for the purpose of exercising any and all rights and taking any and all actions available to any Non-Lead Securitization
Note Holder in connection with any

 

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case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency
Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to accept or reject a plan, to make
any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a motion to modify,
lift or terminate the automatic stay with respect to the Mortgage Loan. The Note Holders hereby agree that, upon the request of
the Lead Securitization Note Holder, the Non-Lead Securitization Note Holders shall execute, acknowledge and deliver to the Lead
Securitization Note Holder all and every such further deeds, conveyances and instruments as the Lead Securitization Note Holder
may reasonably request for the better assuring and evidencing of the foregoing appointment and grant. All actions taken by the
Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard.

 

Section 11.     Representations of the Note Holders. Each Note Holder represents and warrants that the execution, delivery and performance
of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene
such Note Holder’s charter or any law or contractual restriction binding upon such Note Holder, and that this Agreement is
the legal, valid and binding obligation of such Note Holder enforceable against such Note Holder in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
the enforcement of creditors’ rights generally, and by general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law), and except that the enforcement of rights with respect to indemnification and
contribution obligations may be limited by applicable law. Each Note Holder represents and warrants that it is duly organized,
validly existing, in good standing and in possession of all licenses and authorizations necessary to carry on its business. Each
Note Holder represents and warrants that (a) this Agreement has been duly executed and delivered by such Note Holder, (b) to such
Note Holder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or with any court or governmental
agency or body, if any, required for the execution, delivery and performance of this Agreement by such Note Holder have been obtained
or made and (c) to such Note Holder’s actual knowledge, there is no pending action, suit or proceeding, arbitration or governmental
investigation against such Note Holder, an adverse outcome of which would materially and adversely affect its performance under
this Agreement.

 

Section 12.     No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken
pursuant hereto shall be deemed to constitute the relationship created hereby between the Note Holders as a partnership, association,
joint venture or other entity. No Note Holder shall have any obligation whatsoever to offer to the other Note Holders the opportunity
to purchase a participation interest in any future loans originated by such Note Holder or its Affiliates and if any Note Holder
chooses to offer to the other Note Holders the opportunity to purchase a participation interest in any future mortgage loans originated
by such Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate as such Note Holder chooses,
in its sole and absolute discretion. No Note Holder shall have any obligation whatsoever to purchase from the other Note Holders
a participation interest in any future loans originated by such Note Holders or their Affiliates.

 

Section 13.     Other Business Activities of the Note Holders. Each Note Holder acknowledges that the other Note Holders or their
Affiliates may make loans or otherwise extend

 

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credit to, and generally engage in any kind of business with, the Mortgage Loan Borrower
or any Affiliate thereof, any entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage
Loan Borrower or any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower (each, a “Mortgage
Loan Borrower Related Party”), and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower
Related Parties and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement
and the transactions contemplated hereby were not in effect.

 

Section 14.      Sale of the Notes.

 

(a)          Each Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, participate, hypothecate, contribute,
encumber or otherwise dispose (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other
similar agreement, excluding a repo financing or a Pledge in accordance with Section 14(d)) of a Note (a “Transfer”)
except to a Qualified Institutional Lender. Promptly after the Transfer, the non-transferring Note Holders shall be provided with
(x) a representation from a transferee or the applicable Note Holder certifying that such transferee is a Qualified Institutional
Lender (except in the case of a Transfer to a Securitization (and the related pooling and servicing or similar agreement requires
the parties thereto to comply with this Agreement) or in accordance with the immediately following sentence) and (y) a copy
of the assignment and assumption agreement referred to in Section 15. If a Note Holder intends to Transfer its respective
Note, or any portion thereof, to an entity that is not a Qualified Institutional Lender, it must first obtain (1) prior to a Securitization,
the consent of each non-transferring Note Holder or (2) after a Securitization of any Note Holder’s Note, Rating Agency Confirmation
(and in each case, such transferee shall be deemed a Qualified Institutional Lender for purposes of this Agreement). Notwithstanding
the foregoing, without the non-transferring Note Holder’s prior consent (which will not be unreasonably withheld), and, if
such non-transferring Note Holder’s Note is held in a Securitization Trust, without Rating Agency Confirmation, no Note Holder
shall Transfer all or any portion of its Note (or a participation interest in such Note) to the Mortgage Loan Borrower or a Mortgage
Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee.
The transferring Note Holder agrees that it will pay the expenses of the non-transferring Note Holders (including all expenses
of the Master Servicer, the Special Servicer and the Trustee) and all expenses relating to the confirmation from the Rating Agencies
in connection with any such Transfer. Notwithstanding the foregoing, each Note Holder shall have the right, without the need to
obtain the consent of any other Note Holder, the Rating Agencies or any other Person, to Transfer 49% or less (in the aggregate)
of its Note or any beneficial interest in its Note. None of the provisions of this Section 14(a) shall apply in the case of (1)
a sale of all of the Notes together in accordance with the terms and conditions of the Lead Securitization Servicing Agreement
or (2) a transfer by the Special Servicer, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement,
of the Mortgage Loan or the Mortgaged Property, upon the Mortgage Loan becoming a Defaulted Loan, to a single member limited liability
or limited partnership, 100% of the equity interest in which is owned directly or indirectly, through one or more single member
limited liability companies or limited partnerships, by the Lead Securitization Trust.

 

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For
the purposes of this Agreement, if any Rating Agency shall, in writing, waive, decline or refuse to review or otherwise engage
any request for a confirmation hereunder from such Rating Agency that a proposed action will not result in a qualification, downgrade
or withdrawal of its then current rating of the securities issued pursuant to the related Securitization, such waiver, declination,
or refusal shall be deemed to eliminate, for such request only, the condition that such confirmation by such Rating Agency (only)
be obtained for purposes of this Agreement. For purposes of clarity, any such waiver, declination or refusal to review or otherwise
engage in any request for such confirmation hereunder shall not be deemed a waiver, declination or refusal to review or otherwise
engage in any subsequent request for such Rating Agency confirmation hereunder and the condition for such Rating Agency confirmation
pursuant to this Agreement for any subsequent request shall apply regardless of any previous waiver, declination or refusal to
review or otherwise engage in such prior request.

 

(b)          In
the case of any Transfer of a participation interest in any of the Notes, (i) the respective Note Holders’ obligations under
this Agreement shall remain unchanged, (ii) such Note Holders shall remain solely responsible for the performance of such obligations,
and (iii) the Lead Securitization Note Holder and any Persons acting on its behalf shall continue to deal solely and directly
with such Note Holder in connection with such Note Holder’s rights and obligations under this Agreement and the Lead Securitization
Servicing Agreement, and all amounts payable hereunder shall be determined as if such Note Holder had not sold such participation
interest.

 

(c)          Notwithstanding
any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity (other than the
Mortgage Loan Borrower or any Affiliate thereof) which has extended a credit facility to such Note Holder and that is either a
Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A” (or
the equivalent) or better by each Rating Agency (a “Note Pledgee”), or to a Person with respect to which a
Rating Agency Confirmation has been obtained, on terms and conditions set forth in this Section 14(c), it being further agreed
that a financing provided by a Note Pledgee to a Note Holder or any person which Controls such Note that is secured by its Note
and is structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that a Note
Pledgee which is not a Qualified Institutional Lender may not take title to the pledged Note without a Rating Agency Confirmation.
Upon written notice by the applicable Note Holder to the other Note Holders and any Servicer that a Pledge has been effected (including
the name and address of the applicable Note Pledgee), the other Note Holders agree to acknowledge receipt of such notice and thereafter
agree: (i) to give Note Pledgee written notice of any default by the pledging Note Holder in respect of its obligations under
this Agreement of which default such Note Holder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) days
to cure a default by the pledging Note Holder in respect of its obligations to the other Note Holders hereunder, but such Note
Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification, waiver or termination of this
Agreement shall be effective against such Note Pledgee without the written consent of such Note Pledgee, which consent shall not
be unreasonably withheld, conditioned or delayed; (iv) that such other Note Holder shall give to such Note Pledgee copies of any
notice of default under this Agreement simultaneously with the giving of same to the pledging Note Holder; (v) that such other
Note Holder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided
that any such certificate(s)

 

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shall
be in a form reasonably satisfactory to such other Note Holder; and (vi) that, upon written notice (a “Redirection Notice”)
to the other Note Holders and any Servicer by such Note Pledgee that the pledging Note Holder is in default, beyond any applicable
cure periods, under the pledging Note Holder’s obligations to such Note Pledgee pursuant to the applicable credit agreement
between the pledging Note Holder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Note Holder),
and until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any
payments that any Note Holder or Servicer would otherwise be obligated to pay to the pledging Note Holder from time to time pursuant
to this Agreement or the Lead Securitization Servicing Agreement. Any pledging Note Holder hereby unconditionally and absolutely
releases the other Note Holders and any Servicer from any liability to the pledging Note Holder on account of such other Note
Holder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or such other Note Holder to
have been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging
Note Holder to such Note Pledgee (and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable
law and this Agreement. In such event, the Note Holders and any Servicer shall recognize such Note Pledgee (and any transferee
other than the Mortgage Loan Borrower or any Affiliate thereof which is also a Qualified Institutional Lender at any foreclosure
or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor
to the pledging Note Holder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified
Institutional Lender shall assume in writing the obligations of the pledging Note Holder hereunder accruing from and after such
Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions
of this Agreement. The rights of a Note Pledgee under this Section 14(c) shall remain effective as to any Note Holder (and any
Servicer) unless and until such Note Pledgee shall have notified any such Note Holder (and any Servicer, as applicable) in writing
that its interest in the pledged Note has terminated.

 

(d)          Notwithstanding
any provisions herein to the contrary, if a conduit (“Conduit”) which is not a Qualified Institutional Lender
provides financing to a Note Holder then such Note Holder shall have the right to grant a security interest in its Note to such
Conduit notwithstanding that such Conduit is not a Qualified Institutional Lender, if the following conditions are satisfied:

 

(i)           The
loan (the “Conduit Inventory Loan”) made by the Conduit to such Note Holder to finance the acquisition and
holding of its Note requires a third party (the “Conduit Credit Enhancer”) to provide credit enhancement;

 

(ii)          The
Conduit Credit Enhancer is a Qualified Institutional Lender;

 

(iii)         Such
Note Holder pledges its interest in its Note to the Conduit as collateral for the Conduit Inventory Loan;

 

(iv)         The
Conduit Credit Enhancer and the Conduit agree that, if such Note Holder defaults under the Conduit Inventory Loan, or if the Conduit
is unable to refinance its outstanding commercial paper even if there is no default by such Note Holder, the Conduit Credit Enhancer
will purchase the Conduit Inventory Loan from the

 

     39

     

    

 

Conduit,
and the Conduit will assign the pledge of such Note Holder’s Note to the Conduit Credit Enhancer; and

 

(v)          Unless
the Conduit is in fact then a Qualified Institutional Lender, the Conduit will not without obtaining a Rating Agency Confirmation
from each Rating Agency have any greater right to acquire the interests in the Note pledged by such Note Holder, by foreclosure
or otherwise, than would any other purchaser that is not a Qualified Institutional Lender at a foreclosure sale conducted by a
Note Pledgee.

 

Section
15.   Registration of the Notes and Each Note Holder. The Agent shall keep or cause to be kept at the
Agent Office books (the “Note Register”) for the registration and transfer of the Notes. The Agent shall serve
as the initial note registrar and the Agent hereby accepts such appointment. The names and addresses of the holders of the Notes
and the names and addresses of any transferee of any Note of which the Agent has received notice shall be registered in the Note
Register. The Person in whose name a Note Holder is so registered shall be deemed and treated as the sole owner and holder thereof
for all purposes of this Agreement. Upon request of a Note Holder, the Agent shall provide such party with the names and addresses
of the other Note Holders. To the extent the Trustee or another party is appointed as Agent hereunder, each Note Holder hereby
designates such person as its agent under this Section 15 solely for purposes of maintaining the Note Register.

 

In
connection with any Transfer of a Note (but excluding any Pledgee unless and until it realizes on its Pledge), a transferee shall
execute an assignment and assumption agreement (unless the transferee is a Securitization Trust and the related pooling
and servicing agreement requires the parties thereto to comply with this Agreement), whereby such transferee assumes all of the
obligations of the applicable Note Holder hereunder with respect to such Note thereafter accruing and agrees to be bound by the
terms of this Agreement, including the applicable restriction on Transfers set forth in Section 14, from and after the date of
such assignment. No transfer of a Note may be made unless it is registered on the Note Register, and the Agent shall not recognize
any attempted or purported transfer of any Note in violation of the provisions of Section 14 and this Section 15. Any such purported
transfer shall be absolutely null and void and shall vest no rights in the purported transferee. Each Note Holder desiring to
effect such transfer shall, and does hereby agree to, indemnify the Agent and the other Note Holders against any liability that
may result if the transfer is not made in accordance with the provisions of this Agreement.

 

     40

     

    

 

Section
16.   Governing Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING
UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT
OF THE RIGHTS AND OBLIGATIONS OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL
LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF (OTHER THAN SECTION 5-1401 OF THE
NEW YORK GENERAL OBLIGATIONS LAW). EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

Section
17.   Submission To Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

 

(a)          SUBMITS
FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT, OR FOR RECOGNITION AND ENFORCEMENT OF
ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK, THE FEDERAL
COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF;

 

(b)          CONSENTS
THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY OBJECTION THAT
IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING
WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME;

 

(c)          AGREES
THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED
MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO ITS ADDRESS SET FORTH HEREIN OR AT SUCH OTHER ADDRESS OF
WHICH A PARTY HEREIN SHALL HAVE BEEN NOTIFIED; AND

 

(d)          AGREES
THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE
RIGHT TO SUE IN ANY OTHER JURISDICTION.

 

Section
18.   Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument
in writing signed by each Note Holder. Additionally, for as long as any Note is contained in a Securitization Trust, the Note
Holders shall not amend or modify this Agreement without first receiving a Rating Agency Confirmation from each Rating Agency
for each Securitization then outstanding with respect to which Certificates thereof are then rated by such Rating Agency; provided that no such confirmation from the Rating Agencies

 

     41

     

    

 

shall
be required in connection with a modification (i) to cure any ambiguity, to correct or supplement any provisions herein that may
be defective or inconsistent with any other provisions herein or with the Lead Securitization Servicing Agreement, (ii) to make
other provisions with respect to matters or questions arising under this Agreement, which shall not be inconsistent with the provisions
of this Agreement including, without limitation, in connection with the creation of New Notes pursuant to Section 31 or
(iii) if and to the extent that it would be deemed given or not required pursuant to the definition of Rating Agency Confirmation
in the Lead Securitization Servicing Agreement and/or any Non-Lead Securitization Servicing Agreement, as applicable.

 

Section
19.   Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit
of and be binding upon the parties hereto and their respective successors and assigns. Except as provided herein, including without
limitation, with respect to the Trustee, Certificate Administrator, Master Servicer, Special Servicer, Non-Lead Master Servicer,
Non-Lead Special Servicer, Non-Lead Trustee, none of the provisions of this Agreement shall be for the benefit of or enforceable
by any Person not a party hereto. Subject to Section 14 and Section 15, each Note Holder may assign or delegate its rights or
obligations under this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits of the applicable
Note Holder hereunder.

 

Section
20.   Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts
shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement
in Portable Document Format (PDF) or by facsimile transmission shall be effective as delivery of a manually executed original
counterpart of this Agreement.

 

Section
21.   Captions. The titles and headings of the paragraphs of this Agreement have been inserted for
convenience of reference only and are not intended to summarize or otherwise describe the subject matter of the paragraphs and
shall not be given any consideration in the construction of this Agreement.

 

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

 

Section
23.   Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto
with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations
between the parties.

 

Section
24.   Withholding Taxes. (a) If the Lead Securitization Note Holder or the Mortgage Loan Borrower shall
be required by law to deduct and withhold Taxes from interest, fees or other amounts payable to any Non-Lead Securitization Note
Holder with respect to the Mortgage Loan as a result of any Non-Lead Securitization Note Holder constituting a Non-Exempt Person,
the Lead Securitization Note Holder, in its capacity as servicer, shall be entitled to do so with respect to such Non-Lead Securitization
Note Holder’s

 

     42

     

    

 

interest
in such payment (all withheld amounts being deemed paid to such Note Holder), provided that the Lead Securitization Note
Holder shall furnish the related Non-Lead Securitization Note Holder with a statement setting forth the amount of Taxes withheld,
the applicable rate and other information which may reasonably be requested for purposes of assisting such Note Holder to seek
any allowable credits or deductions for the Taxes so withheld in each jurisdiction in which such Note Holder is subject to tax.

 

(b)          The
Non-Lead Securitization Note Holders shall and hereby agree to indemnify the Lead Securitization Note Holder against and hold
the Lead Securitization Note Holder harmless from and against any Taxes, interest, penalties and attorneys’ fees and disbursements
arising or resulting from any failure of the Lead Securitization Note Holder to withhold Taxes from payment made to any Non-Lead
Securitization Note Holder in reliance upon any representation, certificate, statement, document or instrument made or provided
by the Non-Lead Securitization Note Holders to the Lead Securitization Note Holder in connection with the obligation of the Lead
Securitization Note Holder to withhold Taxes from payments made to Non-Lead Securitization Note Holder, it being expressly understood
and agreed that (i) the Lead Securitization Note Holder shall be absolutely and unconditionally entitled to accept any such representation,
certificate, statement, document or instrument as being true and correct in all respects and to fully rely thereon without any
obligation or responsibility to investigate or to make any inquiries with respect to the accuracy, veracity, correctness or validity
of the same and (ii) any Non-Lead Securitization Note Holder, upon request of the Lead Securitization Note Holder and at its sole
cost and expense, shall defend any claim or action relating to the foregoing indemnification using counsel selected by the Lead
Securitization Note Holder.

 

(c)          Each
Non-Lead Securitization Note Holder represents to the Lead Securitization Note Holder (for the benefit of the Mortgage Loan Borrower)
that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage Loan Borrower is obligated
under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise pursuant to this Agreement.
Contemporaneously with the execution of this Agreement and from time to time as necessary during the term of this Agreement, the
Non-Lead Securitization Note Holders shall deliver to the Lead Securitization Note Holder or Servicer, as applicable, evidence
satisfactory to the Lead Securitization Note Holder substantiating that such Note Holder is not a Non-Exempt Person and that the
Lead Securitization Note Holder is not obligated under applicable law to withhold Taxes on sums paid to it with respect to the
Mortgage Loan or otherwise under this Agreement. Without limiting the effect of the foregoing, (i) if any Non-Lead Securitization
Note Holder is created or organized under the laws of the United States, any state thereof or the District of Columbia, it shall
satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization Note Holder an Internal Revenue Service
Form W-9 and (ii) if any Non-Lead Securitization Note Holder is not created or organized under the laws of the United States,
any state thereof or the District of Columbia, and if the payment of interest or other amounts by the Mortgage Loan Borrower is
treated for United States income tax purposes as derived in whole or part from sources within the United States, such Note Holder
shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization Note Holder Internal Revenue
Service Form W-8ECI, Form W-8IMY (with appropriate attachments) or Form W-8BEN, or successor forms, as may be required from time
to time, duly executed by such Note Holder, as

 

     43

     

    

 

evidence
of such Note Holder’s exemption from the withholding of United States tax with respect thereto. The Lead Securitization
Note Holder shall not be obligated to make any payment hereunder with respect to any Non-Lead Securitization Note or otherwise
until the related Non-Lead Securitization Note Holder shall have furnished to the Lead Securitization Note Holder requested forms,
certificates, statements or documents.

 

Section
25.   Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other
than any Non-Lead Securitization Note) (a) prior to the Lead Securitization will be held by the Initial Agent and (b) after the
Lead Securitization, will be held by the Lead Securitization Note Holder (in the name of the Trustee and held by a duly appointed
custodian therefor in accordance with the Lead Securitization Servicing Agreement), in each case, on behalf of the registered
holders of the Notes.

 

Section
26.   Cooperation in Securitization.

 

(a)          Each
Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization. In connection
with a Securitization and subject to the terms of the preceding sentence, at the request of the Lead Securitization Note Holder,
the Non-Lead Securitization Note Holders shall use reasonable efforts, at Lead Securitization Note Holder’s expense, to
satisfy, and to cooperate with the Lead Securitization Note Holder in attempting to cause the Mortgage Loan Borrower to satisfy,
the market standards to which the Lead Securitization Note Holder customarily adheres or which may be reasonably required in the
marketplace or by the Rating Agencies in connection with the Securitization, including, entering into (or consenting to, as applicable)
any modifications to this Agreement or the Mortgage Loan Documents and to cooperate with the Lead Securitization Note Holder in
attempting to cause the Mortgage Loan Borrower to execute such modifications to the Mortgage Loan Documents, in any such case,
as may be reasonably requested by the Rating Agencies to effect the Securitization; provided, however, that either
in connection with the Lead Securitization or otherwise at any time prior to the Lead Securitization, the Non-Lead Securitization
Note Holders shall not be required to modify or amend this Agreement or any Mortgage Loan Documents (or consent to such modification,
as applicable) in connection therewith, if such modification or amendment would (i) change the interest allocable to, or the amount
of any payments due to or priority of such payments to, any Non-Lead Securitization Note Holder or (ii) materially increase the
Non-Lead Securitization Note Holders’ obligations or materially decrease the Non-Lead Securitization Note Holders’
rights, remedies or protections. In connection with the Lead Securitization, Non-Lead Securitization Note Holders agree to provide
for inclusion in any disclosure document relating to the Lead Securitization such information concerning the Non-Lead Securitization
Note Holders and any Non-Lead Securitization Note as the Lead Securitization Note Holder reasonably determines to be necessary
or appropriate, and the Non-Lead Securitization Note Holders covenant and agree that they shall, at the Lead Securitization Note
Holder’s expense, cooperate with the reasonable requests of each Rating Agency and Lead Securitization Note Holder in connection
with the Lead Securitization (including, without limitation, reasonably cooperating with the Lead Securitization Noteholder (without
any obligation to make additional representations and warranties) to enable the Lead Securitization Noteholder to make all necessary
certifications and deliver all necessary opinions (including customary securities law opinions) in connection with the Mortgage
Loan and the Lead Securitization), as well as in connection with all other

 

     44

     

    

 

matters
and the preparation of any offering documents thereof and to review and respond reasonably promptly with respect to any information
relating to the Non-Lead Securitization Note Holders and any Non-Lead Securitization Note in any Securitization document. Any
Non-Lead Securitization Note Holder acknowledges that the information provided by it to the Lead Securitization Note Holder may
be incorporated into the offering documents for the Lead Securitization. The Lead Securitization Note Holder and each Rating Agency
shall be entitled to rely on the information supplied by, or on behalf of, any Non-Lead Securitization Note Holder. The Lead Securitization
Note Holder will reasonably cooperate with any Non-Lead Securitization Note Holder by providing all information reasonably requested
that is in the Lead Securitization Note Holder’s possession in connection with any Non-Lead Securitization Note Holders’
preparation of disclosure materials in connection with a Securitization.

 

Upon
request, the Lead Securitization Note Holder shall deliver to the Non-Lead Securitization Note Holders drafts of the preliminary
and final Lead Securitization offering memoranda, prospectus supplement, free writing prospectus and any other disclosure documents
and the Lead Securitization Servicing Agreement and provide reasonable opportunity to review and comment on such documents.

 

Section
27.    Notices. All notices required hereunder shall be given by (i) telephone (confirmed promptly
in writing) or shall be in writing and personally delivered, (ii) sent by facsimile transmission (during business hours) if the
sender on the same day sends a confirming copy of such notice by reputable overnight delivery service (charges prepaid), (iii)
reputable overnight delivery service (charges prepaid) or (iv) certified United States mail, postage prepaid return receipt requested,
and addressed to the respective parties at their addresses set forth on Exhibit B hereto, or at such other address as any party
shall hereafter inform the other party by written notice given as aforesaid. All written notices so given shall be deemed effective
upon receipt.

 

Section
28.   Broker. Each Note Holder represents to each other that no broker was responsible for bringing
about this transaction.

 

Section
29.   Certain Matters Affecting the Agent.

 

(a)          The
Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s certificate
or assignment and assumption agreement delivered to the Agent pursuant to Section 14 and Section 15;

 

(b)          The
Agent may consult with counsel and any opinion of counsel shall be full and complete authorization and protection in respect of
any action taken or suffered or omitted by it hereunder in good faith and in accordance with such opinion of counsel;

 

(c)          The
Agent shall be under no obligation to institute, conduct or defend any litigation hereunder or in relation hereto at the request,
order or direction of any Note Holder pursuant to the provisions of this Agreement, unless it has received indemnity reasonably
satisfactory to it;

 

(d)          The
Agent or any of its directors, officers, employees, Affiliates, agents or “control” persons within the meaning of
the Act, shall not be personally liable for any action

 

     45

     

    

 

taken,
suffered or omitted by it in good faith and reasonably believed by the Agent to be authorized or within the discretion or rights
or powers conferred upon it by this Agreement;

 

(e)          The
Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or assignment
and assumption agreement delivered to the Agent pursuant to Section 15;

 

(f)          The
Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys
but shall not be relieved of its obligations hereunder; and

 

(g)          The
Agent represents and warrants that it is a Qualified Institutional Lender.

 

Section
30.   Termination and Resignation of Agent.

 

(a)           The
Agent may be terminated at any time upon ten (10) days prior written notice from the Senior Noteholder. In the event that the
Agent is terminated pursuant to this Section 30, all of its rights and obligations under this Agreement shall be terminated, other
than any rights or obligations that accrued prior to the date of such termination.

 

(b)           The
Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory to the
Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization is satisfactory
to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. JPM, as Initial
Agent, may transfer its rights and obligations to a Servicer, the Trustee or the Certificate Administrator, as successor Agent,
at any time without the consent of any Note Holder. Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously
with the closing of the Lead Securitization, the Master Servicer shall be deemed to have been automatically appointed as the successor
Agent under this Agreement in place of JPM without any further notice or other action. The termination or resignation of such
Master Servicer, as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation
of such Master Servicer as Agent under this Agreement.

 

Section
31.   Resizing. Notwithstanding any other provision of this Agreement, for so long as JPM, Column or
CCRE or an affiliate of any of them (an “Original Entity”) is the owner of any Non-Lead Securitization Note
(the “Owned Note”), such Original Entity shall have the right, subject to the terms of the Mortgage Loan Documents,
to cause the Mortgage Loan Borrower to execute amended and restated notes or additional notes (in either case, “New Notes”)
reallocating the principal of the Owned Note to such New Notes; or severing the Owned Note into one or more further “component”
notes in the aggregate principal amount equal to the then outstanding principal balance of the Owned Note provided that
(i) the aggregate principal balance of all outstanding New Notes following such amendments is no greater than the aggregate principal
of the Owned Note prior to such amendments, (ii) all Notes continue to have the same weighted average interest rate as the Notes
prior to such amendments, (iii) all Notes pay pro rata and on a pari passu basis and such reallocated or component
notes shall be automatically subject to the terms of this Agreement, (iv) the Original Entity holding the New

 

     46

     

    

 

Notes
shall notify the Lead Securitization Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator and
the Trustee in writing of such modified allocations and principal amounts, and (v) the execution of such amendments and New Notes
does not violate the Servicing Standard. If the Lead Securitization Note Holder so requests, the Original Entity holding the New
Notes (and any subsequent holder of such Notes) shall execute a confirmation of the continuing applicability of this Agreement
to the New Notes, as so modified. Except for the foregoing reallocation and for modifications pursuant to the Lead Securitization
Servicing Agreement (as discussed in Section 5), no Note may be modified or amended without the consent of its holder and the
consent of the holder of the other Notes. In connection with the foregoing (provided the conditions set forth in (i) through (v)
above are satisfied, with respect to (i) through (iv), as certified by the Original Entity, on which certification the Master
Servicer can rely), the Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents
and this Agreement on behalf of any or all of the Note Holders, as applicable, solely for the purpose of reflecting such reallocation
of principal. If more than one New Note is created hereunder, for purposes of exercising the rights of the Non-Controlling Note
Holders hereunder, the “Non-Controlling Note Holder” of such New Notes shall be as provided in the definition of such
term in this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

     47

     

    

 

IN
WITNESS WHEREOF, the Initial Note Holders have caused this Agreement to be duly executed as of the day and year first above written.

	 	 	 
	 	JPMORGAN
    CHASE BANK, NATIONAL ASSOCIATION, a national banking association, as Initial Note A-1-A Holder
	 	 
	 	By:	/s/
    Bradley J. Horn
	 	 	Name:  Bradley
J. Horn
	 	 	Title:    Executive
    Director
	 	 	 
	 	COLUMN
    FINANCIAL, INC., as Initial Note A-1-B Holder
	 	 
	 	By:	/s/
    Jack Hempling
	 	 	Name:  Jack
    Hempling
	 	 	Title:    Vice
    President
	 	 	 
	 	CANTOR
    COMMERCIAL REAL ESTATE LENDING, L.P., as Initial Note A-1-C Holder
	 	 
	 	By:	/s/
    Michael May
	 	 	Name:  Michael
    May
	 	 	Title:    Chief
    Operating Officer CCRE
	 	 	 
	 	JPMORGAN
    CHASE BANK, NATIONAL ASSOCIATION, a national banking association, as Initial Note A-2-A Holder
	 	 
	 	By:	/s/
    Bradley J. Horn
	 	 	Name:  Bradley
    J. Horn
	 	 	Title:    Executive
    Director

 

(Co-Lender
Agreement – Lehigh Valley Mall)

 

     

     

    

 

	 	 	 
	 	COLUMN
    FINANCIAL, INC., as Initial Note A-2-B Holder
	 	 
	 	By:	/s/
    Jack Hempling
	 	 	Name:  Jack
    Hempling
	 	 	Title:    Vice
    President
	 	 	 
	 	CANTOR
    COMMERCIAL REAL ESTATE LENDING, L.P., as Initial Note A-2-C Holder
	 	 
	 	By:	/s/
    Michael May
	 	 	Name:  Michael
    May
	 	 	Title:    Chief
    Operating Officer CCRE

 

(Co-Lender
Agreement – Lehigh Valley Mall)

 

     

     

    

 

EXHIBIT
A

 

MORTGAGE
LOAN SCHEDULE

 

Description
of Mortgage Loan

 

	Mortgage
    Loan Borrowers:	Lehigh
    Valley Mall, LLC
	Date
    of Mortgage Loan: 	October
    13, 2017
	Date
    of Notes: 	October
    13, 2017
	Original
    Principal Amount of Mortgage Loan:	$200,000,000
	Initial
    Note A-1-A Principal Balance:	$50,000,000
	Initial
    Note A-1-B Principal Balance:	$50,000,000
	Initial
    Note A-1-C Principal Balance:	$25,000,000
	Initial
    Note A-2-A Principal Balance:	$27,500,000
	Initial
    Note A-2-B Principal Balance:	$27,500,000
	Initial
    Note A-2-C Principal Balance:	$20,000,000
	Location
    of Mortgaged Property:	250
    Lehigh Valley Mall, Whitehall, Pennsylvania 18052
	Initial
    Maturity Date:	November
    6, 2027

 

     A-1

     

    

 

EXHIBIT
B

 

1.    Initial
Note A-1-A Holder:

 

JPMorgan
Chase Bank, National Association

 

Notice Address:

JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Joseph E. Geoghan

Facsimile No.: (212) 272-7047

 

-and-

JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Nancy Alto

Facsimile No.: (212) 623-4779

 

with
a copy to:

Cadwalader, Wickersham & Taft LLP 

227
West Trade Street 

Charlotte,
NC 28202

Attention: David Burkholder

Facsimile No.: (704) 348-5309

 

2.    Initial
Note A-1-B Holder:

 

Column
Financial, Inc.

Notice Address:

Column Financial, Inc.

11 Madison Avenue

New York, New York 10010

Attention: N. Dante LaRocca

Facsimile No.: (212) 325-8717

 

with
a copy to:

 

    B-1

     

    

 

Column
Financial, Inc.

One Madison Avenue

New York, New York 10010

Legal and Compliance Department

Attention: Sarah Nelson

Facsimile No.: (917) 326-84337

 

3.    Initial
Note A-1-C Holder:

 

Cantor
Commercial Real Estate Lending, L.P.

Notice Address:

Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Gary F. Stellato

Facsimile No.: (212) 610-3623

 

4.    Initial
Note A-2-A Holder:

 

JPMorgan
Chase Bank, National Association

Notice Address:

JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Joseph E. Geoghan

Facsimile No.: (212) 272-7047

 

-and-

JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Nancy Alto

Facsimile No.: (212) 623-4779

 

with
a copy to:

Cadwalader, Wickersham & Taft LLP 

227
West Trade Street 

Charlotte,
NC 28202

Attention: David Burkholder

Facsimile No.: (704) 348-5309

 

    B-2

     

    

 

5.    Initial
Note A-2-B Holder:

 

Column
Financial, Inc.

Notice Address:

Column Financial, Inc.

11 Madison Avenue

New York, New York 10010

Attention: N. Dante LaRocca

Facsimile No.: (212) 325-8717

 

with
a copy to:

 

Column
Financial, Inc.

One Madison Avenue

New York, New York 10010

Legal and Compliance Department

Attention: Sarah Nelson

Facsimile No.: (917) 326-84337

 

6.    Initial
Note A-2-C Holder:

 

Cantor
Commercial Real Estate Lending, L.P.

Notice Address:

Cantor Commercial Real Estate Lending, L.P. 

110
East 59th Street, 6th Floor 

New
York, New York 10022 

Attention:
Gary F. Stellato 

Facsimile
No.: (212) 610-3623

 

    B-3

     

    

 

EXHIBIT
C

 

PERMITTED
FUND MANAGERS 

 

1.
Apollo Global Real Estate 

2.
Archon Capital, L.P. 

3.
AREA Property Partners 

4.
BlackRock, Inc. 

5.
The Blackstone Group International Ltd. 

6.
Capital Trust, Inc. 

7.
Clarion Partners 

8.
Colony Capital, Inc. 

9.
DLJ Real Estate Capital Partners 

10.
Eightfold Real Estate Capital, L.P. 

11.
Fortress Investment Group LLC 

12.
Garrison Investment Group 

13.
Goldman, Sachs & Co. 

14.
iStar Financial Inc. 

15.
J.E. Roberts Companies 

16.
Lend-Lease Real Estate Investments 

17.
LoanCore Capital 

18.
Lonestar Funds 

19.
Praedium Group 

20.
Raith Capital Partners, LLC 

21.
Rialto Capital Management, LLC 

22.
Rockpoint Group 

23.
Starwood Capital/Starwood Financial Trust 

24.
Torchlight Investors 

25.
Walton Street Capital, LLC 

26.
Westbrook Partners 

27.
WestRiver Capital 

28.
Whitehall Street Real Estate Fund, L.P.

 

    C-1_

Exhibit 10.1

PERNIX THERAPEUTICS HOLDINGS, INC.

2017 OMNIBUS INCENTIVE PLAN, AS AMENDED

1.   PURPOSE

The Plan is intended to (a) provide eligible individuals with an incentive to contribute to the success of the Company and to operate and manage the Company's business in a
manner that will provide for the Company's long-term growth and profitability and that will benefit its shareholders and other important stakeholders, including its employees and customers,
and (b) provide a means of recruiting, rewarding, and retaining key personnel. To this end, the Plan provides for the grant of Awards of Options, Stock Appreciation Rights, Restricted
Stock, Restricted Stock Units, Deferred Stock Units, Unrestricted Stock, Dividend Equivalent Rights, Performance Shares and other Performance-Based Awards, Other Equity-Based Awards,
and cash bonus awards. Any of these Awards may, but need not, be made as performance incentives to reward the holders of such Awards for the achievement of performance goals in
accordance with the terms of the Plan. Options granted under the Plan may be Non-qualified Stock Options or Incentive Stock Options, as provided herein. 

2.   DEFINITIONS

For purposes of interpreting the Plan documents, including the Plan and Award Agreements, the following capitalized terms shall have the meanings specified below, unless the
context clearly indicates otherwise: 

2.1   "Affiliate" shall mean any Person that controls, is controlled by, or is under common control with the Company within the meaning of Rule 405 of Regulation C under
the Securities Act, including any Subsidiary. For purposes of grants of Options or Stock Appreciation Rights, an entity may not be considered an Affiliate unless the Company holds a
Controlling Interest in such entity.

2.2   "Applicable Laws" shall mean the legal requirements relating to the Plan and the Awards under (a) applicable provisions of the Code, the Securities Act, the
Exchange Act, any rules or regulations thereunder, and any other laws, rules, regulations, and government orders of any jurisdiction applicable to the Company or its Affiliates, (b) applicable
provisions of the corporate, securities, tax, and other laws, rules, regulations, and government orders of any jurisdiction applicable to Awards granted to residents thereof, and (c) the
rules of any Stock Exchange or Securities Market on which the Stock is listed or publicly traded. 

2.3   "Award" shall mean a grant under the Plan of an Option, a Stock Appreciation Right, Restricted Stock, a Restricted Stock Unit, a Deferred Stock Unit, Unrestricted
Stock, a Dividend Equivalent Right, a Performance Share or other Performance-Based Award, an Other Equity-Based Award, or cash. 

2.4   "Award Agreement" shall mean the written agreement, in such written, electronic, or other form as determined by the Committee, between the Company and a
Grantee that evidences and sets forth the terms and conditions of an Award. 

2.5   "Beneficial Owner" shall have the meaning set forth in Rule 13d-3 under the Exchange Act.

2.6   "Benefit Arrangement" shall mean any formal or informal plan or other arrangement for the direct or indirect provision of compensation to a Grantee (including groups
or classes of Grantees or beneficiaries of which the Grantee is a member), whether or not such compensation is deferred, is in cash, or is in the form of a benefit to or for the Grantee.

2.7   "Board" shall mean the Board of Directors of the Company. 

2.8   "Cause" shall have the meaning set forth in the Grantee's employment agreement with the Company, as in effect on the date an Award is granted; provided that if no
such agreement or definition exists, "Cause" shall mean, unless otherwise specified in the Award Agreement: (a) conviction of any felony or indictable offense (other than one related to a
vehicular offense) or other criminal act involving fraud; (b) willful misconduct that results in a material economic detriment to the Company; (c) material violation of Company policies and
directives, which is not cured after written notice and an opportunity for cure; (d) continued refusal by the Grantee to perform the Grantee's duties after written notice identifying the
deficiencies and an opportunity for cure; (e) a material violation by the Grantee of any material covenants to the Company and (f) such other actions constituting cause under applicable
common law. No action or inaction shall be deemed willful if not demonstrably willful and if taken or not taken by the Grantee in good faith and with the understanding that such action or
inaction was not adverse to the best interests of the Company. Reference in this definition to the Company shall also include direct and indirect Subsidiaries of the Company, and materiality
shall be measured based on the action or inaction and the impact upon the Company taken as a whole. Any determination by the Committee regarding whether an event constituting Cause
shall have occurred shall be final, binding, and conclusive. 

2.9   "Capital Stock" shall mean, with respect to any Person, any and all shares, interests, participations, or other equivalents (however designated, whether voting or non-voting)
in equity of such Person, whether outstanding on the Effective Date or issued thereafter, including, without limitation, all shares of Stock. 

2.10   "Change in Control" shall mean, subject to Section 18.11, the occurrence of any of the following:

(a) the acquisition (other than from the Company), by any person (as such term is defined in Section 13(c) or 14(d) of the Exchange Act) of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of the combined voting power of the Company's then outstanding voting securities;

(b) the individuals who, as of the Effective Date, are members of the Board (the "Incumbent Board"), cease for any reason to constitute at least a majority of the Board, unless the
election, or nomination for election by the Company's shareholders, of any new director was approved by a vote of at least a majority of the Incumbent Board, and such new director shall be
considered as a member of the Incumbent Board;

(c) the closing of a merger or similar business combination (each, an "Business Combination") involving the Company if (i) the shareholders of the Company, immediately before
such Business Combination, do not, as a result of such Business Combination, own, directly or indirectly, more than fifty percent (50%) of the combined voting power of the then outstanding
voting securities of the entity resulting from such Business Combination in substantially the same proportion as their ownership of the combined voting power of the voting securities of the
Company outstanding immediately before such Business Combination or (ii) immediately following the Business Combination, the individuals who comprised the Board immediately prior
thereto do not constitute at least a majority of the board of directors of the entity resulting from such Business Combination (or, if the entity resulting from such Business Combination is then a
subsidiary, the ultimate parent thereof); or

(d) a complete liquidation or dissolution of the Company or the closing of an agreement for the sale or other disposition of all or substantially all of the assets of the Company.

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because fifty percent (50%) or more of the combined voting power of the Company's then
outstanding securities is acquired by (i) a trustee or other fiduciary holding securities under one or more employee benefit plans maintained by the Company or any of its subsidiaries or (ii)
any corporation which, immediately prior to such acquisition, is owned directly or indirectly by the shareholders of the Company in the same proportion as their ownership of shares in the
Company immediately prior to such acquisition.

2.11   "Code" shall mean the Internal Revenue Code of 1986, as amended, as now in effect or as hereafter amended, and any successor thereto. References in the Plan
to any Code Section shall be deemed to include, as applicable, regulations and guidance promulgated under such Code Section.

2.12   "Committee" shall mean a committee of, and designated from time to time by resolution of, the Board, which shall be constituted as provided in
Section 3.1.2 and Section 3.1.3 (or, if no Committee has been so designated, the Board). 

2.13   "Company" shall mean Pernix Therapeutics Holdings, Inc. and any successor thereto. 

2.14   "Controlling Interest" shall have the meaning set forth in Treasury Regulation Section 1.414(c)-2(b)(2)(i); provided that (a) except as specified in clause (b) below, an
interest of "at least 50 percent" shall be used instead of an interest of "at least 80 percent" in each case where "at least 80 percent" appears in Treasury Regulation Section 1.414(c)-2(b)(2)(i),
and (b) where a grant of Options or Stock Appreciation Rights is based upon a legitimate business criterion, an interest of "at least 20 percent" shall be used instead of an interest of "at least
80 percent" in each case where "at least 80 percent" appears in Treasury Regulation Section 1.414(c)-2(b)(2)(i).

2.15   "Covered Employee" shall mean a Grantee who is, or could become, a "covered employee" within the meaning of Code Section 162(m)(3). 

2.16   "Deferred Stock Unit" shall mean a Restricted Stock Unit, the terms of which provide for delivery of the underlying shares of Stock, cash, or a combination thereof
subsequent to the date of vesting, at a time or times consistent with the requirements of Code Section 409A.

                                                                          2

2.17   "Disability" shall mean, unless otherwise provided in an Award Agreement, that the Grantee is (a) unable to engage in any substantial gainful activity by reason of
any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months or (b)
by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12)
months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company; provided, that, if
applicable to the Award, "Disability" shall be determined in a manner consistent with Section 409A of the Code.

2.18   "Disqualified Individual" shall have the meaning set forth in Code Section 280G(c).

2.19   "Dividend Equivalent Right" shall mean a right, granted to a Grantee pursuant to Article 12, entitling the Grantee thereof to receive, or to receive
credits for the future payment of, cash, Stock, other Awards, or other property equal in value to dividend payments or distributions, or other periodic payments, declared or paid with respect to
a number of shares of Stock specified in such Dividend Equivalent Right (or other Award to which such Dividend Equivalent Right relates) as if such shares of Stock had been issued to and
held by the Grantee of such Dividend Equivalent Right as of the record date. 

2.20   "Effective Date" shall mean November 15, 2017, subject to approval of the Plan by the Company's shareholders on such date, the Plan having been approved by the
Board on September 19, 2017.

2.21   "Employee" shall mean, as of any date of determination, an employee (including an officer) of the Company or an Affiliate. 

2.22   "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended, as now in effect or as hereafter amended, and any successor thereto. 

2.23   "Fair Market Value" shall mean the fair market value of a share of Stock for purposes of the Plan, which shall be, as of any date of determination: 

(a)      If on such date the shares of Stock are listed on a Stock Exchange, or are publicly traded on another Securities Market, the Fair Market Value of a share
of Stock shall be the closing price of the Stock as reported on such Stock Exchange or such Securities Market (provided that, if there is more than one such Stock Exchange or Securities
Market, the Committee shall designate the appropriate Stock Exchange or Securities Market for purposes of the Fair Market Value determination). If there is no such reported closing price on
such date, the Fair Market Value of a share of Stock shall be the closing price of the Stock on the next preceding day on which any sale of Stock shall have been reported on such Stock
Exchange or such Securities Market. 

 (b)      If on such date the shares of Stock are not listed on a Stock Exchange or publicly traded on a Securities Market, the Fair Market Value of a share of
Stock shall be the value of the Stock as determined by the Committee by the reasonable application of a reasonable valuation method, in a manner consistent with Code Section 409A.

Notwithstanding this Section 23 or Section 18.3, for purposes of determining taxable income and the amount of the related tax withholding obligation
pursuant to Section 18.3, the Fair Market Value shall be determined by the Committee in good faith using any reasonable method as it deems appropriate, to be applied
consistently with respect to Grantees; provided, further, that the Committee shall determine the Fair Market Value of shares of Stock for tax withholding obligations due in connection with
sales, by or on behalf of a Grantee, of such shares of Stock subject to an Award to pay the Option Price, SAR Price, and/or any tax withholding obligation on the same date on which such
shares may first be sold pursuant to the terms of the applicable Award Agreement (including broker-assisted cashless exercises of Options and Stock Appreciation Rights, as described in
Section 14.3, and sell-to-cover transactions) in any manner consistent with applicable provisions of the Code, including but not limited to using the sale price of such shares
on such date (or if sales of such shares are effectuated at more than one sale price, the weighted average sale price of such shares on such date) as the Fair Market Value of such shares, so
long as such Grantee has provided the Company, or its designee or agent, with advance written notice of such sale. 

                                                                          3

2.24   "Family Member" shall mean, with respect to any Grantee as of any date of determination, (a) a Person who is a spouse, former spouse, child, stepchild,
grandchild, parent, stepparent, grandparent, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or sister-in-law, including adoptive
relationships, of such Grantee, (b) any Person sharing such Grantee's household (other than a tenant or employee), (c) a trust in which any one or more of the Persons specified
in clauses (a) and (b) above (and such Grantee) own more than fifty percent (50%) of the beneficial interest, (d) a foundation in which any one or more of the
Persons specified in clauses (a) and (b) above (and such Grantee) control the management of assets, and (e) any other entity in which one or more of the Persons
specified in clauses (a) and (b) above (and such Grantee) own more than fifty percent (50%) of the voting interests. 

2.25   "Good Reason" shall have the meaning set forth in the Grantee's employment agreement with the Company, as in effect on the date an Award is granted; provided
that if no such agreement or definition exists, "Good Reason" shall mean, unless otherwise specified in the Award Agreement, the occurrence of any of the events or conditions described in
clauses (a) and (b) immediately below which are not cured by the Company (if susceptible to cure by the Company) within thirty (30) days after the Company has received written notice from
the Grantee which notice must be provided by the Grantee within ninety (90) days of the initial existence of the event or condition constituting Good Reason specifying the particular events or
conditions which constitute Good Reason and the specific cure requested by the Grantee: (a) any material reduction in the Grantee's duties or responsibilities as in effect immediately prior
thereto; provided that diminution of responsibility shall not include any such diminution resulting from a promotion, death or Disability, the termination of the Grantee's employment for Cause,
or the Grantee's termination of employment other than for Good Reason; and (b) any reduction in the Grantee's base salary or target bonus opportunity which is not comparable to reductions
in the base salary or target bonus opportunity of other similarly-situated employees at the Company.

2.26   "Grant Date" shall mean, as determined by the Committee, the latest to occur of (a) the date as of which the Committee approves the Award, (b) the
date on which the recipient of an Award first becomes eligible to receive an Award under Article 6 hereof (e.g., in the case of a new hire, the first date on which such new hire
performs any Service), or (c) such subsequent date specified by the Committee in the corporate action approving the Award. 

2.27   "Grantee" shall mean a Person who receives or holds an Award under the Plan. 

2.28   "Incentive Stock Option" shall mean an "incentive stock option" within the meaning of Code Section 422. 

2.29   "Non-qualified Stock Option" shall mean an Option that is not an Incentive Stock Option. 

2.30   "Non-Employee Director" shall have the meaning set forth in Rule 16b-3 under the Exchange Act.

2.31   "Officer" shall have the meaning set forth in Rule 16a-1(f) under the Exchange Act.

2.32   "Option" shall mean an option to purchase one or more shares of Stock at a specified Option Price awarded to a Grantee pursuant to Article 8. 

2.33   "Option Price" shall mean the per share exercise price for shares of Stock subject to an Option.

2.34   "Other Agreement" shall mean any agreement, contract, or understanding heretofore or hereafter entered into by a Grantee with the Company or an Affiliate, except
an agreement, contract, or understanding that expressly addresses Code Section 280G and/or Code Section 4999.

2.35   "Other Equity-Based Award" shall mean an Award representing a right or other interest that may be denominated or payable in, valued in whole or in part by
reference to, or otherwise based on or related to Stock, other than an Option, a Stock Appreciation Right, Restricted Stock, a Restricted Stock Unit, a Deferred Stock Unit, Unrestricted Stock,
a Dividend Equivalent Right, or a Performance Share. 

2.36   "Outside Director" shall have the meaning set forth in Code Section 162(m)(4)(C)(i).

2.37   "Parachute Payment" shall mean a "parachute payment" within the meaning of Code Section 280G(b)(2).

2.38   "Performance-Based Award" shall mean an Award of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Deferred Stock Units,
Performance Shares, Other Equity-Based Awards, or cash made subject to the achievement of performance goals (as provided in Article 13) over a Performance Period specified by the Committee. 

                                                                          4

2.39   "Performance-Based Compensation" shall mean compensation under an Award that is intended to satisfy the requirements of Code Section 162(m) for
Qualified Performance-Based Compensation paid to Covered Employees. Notwithstanding the foregoing, nothing in the Plan shall be construed to mean that an Award which does not satisfy
the requirements for Qualified Performance-Based Compensation does not constitute performance-based compensation for other purposes, including the purposes of Code
Section 409A. 

2.40   "Performance Measures" shall mean measures as specified in Section 13.6.4 on which the performance goal or goals under Performance-Based
Awards are based and which are approved by the Company's shareholders pursuant to, and to the extent required by, the Plan in order to qualify such Performance-Based Awards as
Performance-Based Compensation. 

2.41   "Performance Period" shall mean the period of time, up to ten (10) years, during or over which the performance goals under Performance- Based Awards must be
met in order to determine the degree of payout and/or vesting with respect to any such Performance-Based Awards. 

2.42   "Performance Shares" shall mean a Performance-Based Award representing a right or other interest that may be denominated or payable in, valued in whole or in
part by reference to, or otherwise based on or related to Stock, made subject to the achievement of performance goals (as provided in Article 13) over a Performance Period.

2.43   "Person" shall mean an individual, a corporation, a partnership, a limited liability company, an association, a trust, or any other entity or organization, including a
government or political subdivision or an agency or instrumentality thereof; provided that, for purposes of Section 10(a), Section 2.10(c) and Section 10(d), Person shall
have the meaning set forth in Sections 13(d) and 14(d)(2) of the Exchange Act.

2.44   "Plan" shall mean this Pernix Therapeutics Holdings, Inc. 2017 Omnibus Incentive Plan, as amended from time to time. 

2.45   "Prior Plans" shall mean the Amended and Restated Pernix Therapeutics Holdings, Inc. 2015 Omnibus Incentive Plan and the Amended and Restated Pernix
Therapeutics Holdings, Inc. 2009 Stock Incentive Plan.

2.46   "Qualified Performance-Based Compensation" shall have the meaning set forth in Code Section 162(m).

2.47   "Restricted Period" shall mean a period of time established by the Committee during which an Award of Restricted Stock, Restricted Stock Units, or Deferred Stock
Units is subject to restrictions.

2.48   "Restricted Stock" shall mean shares of Stock awarded to a Grantee pursuant to Article 10. 

2.49   "Restricted Stock Unit" shall mean a bookkeeping entry representing the equivalent of one (1) share of Stock awarded to a Grantee pursuant to Article 10
that may be settled, subject to the terms and conditions of the applicable Award Agreement, in shares of Stock, cash, or a combination thereof.

2.50   "SAR Price" shall mean the per share exercise price of a SAR.

2.51   "Securities Act" shall mean the Securities Act of 1933, as amended, as now in effect or as hereafter amended, and any successor thereto. 

2.52   "Securities Market" shall mean an established securities market.

2.53   "Separation from Service" shall have the meaning set forth in Code Section 409A. 

2.54   "Service" shall mean service qualifying a Grantee as a Service Provider to the Company or an Affiliate. Unless otherwise provided in the applicable Award
Agreement, a Grantee's change in position or duties shall not result in interrupted or terminated Service, so long as such Grantee continues to be a Service Provider to the Company or an
Affiliate. Subject to the preceding sentence, any determination by the Committee whether a termination of Service shall have occurred for purposes of the Plan shall be final, binding, and
conclusive. If a Service Provider's employment or other Service relationship is with an Affiliate and the applicable entity ceases to be an Affiliate, a termination of Service shall be deemed to
have occurred when such entity ceases to be an Affiliate unless the Service Provider transfers his or her employment or other Service relationship to the Company or any other Affiliate.

                                                                          5

2.55   "Service Provider" shall mean (a) an Employee or director of the Company or an Affiliate, or (b) a consultant or adviser to the Company or an Affiliate (i) who is a
natural person, (ii) who is currently providing bona fide services to the Company or an Affiliate, and (iii) whose services are not in connection with the Company's sale of securities in a capital-raising
transaction and do not directly or indirectly promote or maintain a market for the Company's Capital Stock. 

2.56   "Service Recipient Stock" shall have the meaning set forth in Code Section 409A. 

2.57   "Share Limit" shall have the meaning set forth in Section 4.1.

2.58   "Short-Term Deferral Period" shall have the meaning set forth in Code Section 409A. 

2.59   "Stock" shall mean the common stock, par value $0.01 per share, of the Company, or any security into which shares of Stock may be changed or for which shares of
Stock may be exchanged as provided in Section 16.1. 

2.60   "Stock Appreciation Right" or "SAR" shall mean a right granted to a Grantee pursuant to Article 9. 

2.61   "Stock Exchange" shall mean the New York Stock Exchange, the NASDAQ Capital Market, the NASDAQ Global Market, the NASDAQ Global Select Market, or
another established national or regional stock exchange. 

2.62   "Subsidiary" shall mean any corporation (other than the Company) or non-corporate entity with respect to which the Company owns, directly or indirectly, fifty
percent (50%) or more of the total combined voting power of all classes of Voting Stock. In addition, any other entity may be designated by the Committee as a Subsidiary, provided that
(a) such entity could be considered as a subsidiary according to generally accepted accounting principles in the United States of America and (b) in the case of an Award of
Options or Stock Appreciation Rights, such Award would be considered to be granted in respect of Service Recipient Stock under Code Section 409A. 

2.63   "Substitute Award" shall mean an Award granted upon assumption of, or in substitution for, outstanding awards previously granted under a compensatory plan of the
Company, an Affiliate, or a business entity acquired or to be acquired by the Company or an Affiliate or with which the Company or an Affiliate has combined or will combine. 

2.64   "Ten Percent Shareholder" shall mean a natural Person who owns more than ten percent (10%) of the total combined voting power of all classes of Voting
Stock of the Company, the Company's parent (if any), or any of the Company's Subsidiaries. In determining stock ownership, the attribution rules of Code Section 424(d) shall be
applied. 

2.65   "Unrestricted Stock" shall mean Stock that is free of any restrictions.

2.66   "Voting Stock" shall mean, with respect to any Person, Capital Stock of any class or kind ordinarily having the power to vote for the election of directors, managers,
or other voting members of the governing body of such Person. 

3.   ADMINISTRATION OF THE PLAN

3.1   Committee.

3.1.1   Powers and Authorities. 

The Committee shall administer the Plan and shall have such powers and authorities related to the administration of the Plan as are consistent with the Company's articles of
incorporation and bylaws and Applicable Laws. Without limiting the generality of the foregoing, the Committee shall have full power and authority to take all actions and to make all
determinations required or provided for under the Plan, any Award, or any Award Agreement and shall have full power and authority to take all such other actions and to make all such other
determinations not inconsistent with the specific terms and provisions of the Plan which the Committee deems to be necessary or appropriate to the administration of the Plan, any Award, or
any Award Agreement. All such actions and determinations shall be made by (a) the affirmative vote of a majority of the members of the Committee present at a meeting at which a
quorum is present, or (b) the unanimous consent of the members of the Committee executed in writing or evidenced by electronic transmission in accordance with the Company's
articles of incorporation and bylaws and Applicable Laws. Unless otherwise expressly determined by the Board, the Committee shall have the authority to interpret and construe all provisions
of the Plan, any Award, and any Award Agreement, and any such interpretation or construction, and any other determination contemplated to be made under the Plan or any Award
Agreement, by the Committee shall be final, binding, and conclusive on all Persons, whether or not expressly provided for in any provision of the Plan, such Award, or such Award Agreement.

                                                                          6

In the event that the Plan, any Award, or any Award Agreement provides for any action to be taken by the Board or any determination to be made by the Board, such action may be taken
or such determination may be made by the Committee constituted in accordance with this Section 3.1 if the Board has delegated the power and authority to do so to such
Committee. 

3.1.2   Composition of the Committee. 

The Committee shall be a committee composed of not fewer than two (2) directors of the Company designated by the Board to administer the Plan. Each member of the Committee
shall be (a) a Non-Employee Director, (b) an Outside Director, and (c) an independent director in accordance with the rules of any Stock 

Exchange on which the Stock is listed; provided that any action taken by the Committee shall be valid and effective whether or not members of the Committee at the time of such action
are later determined not to have satisfied the requirements for membership set forth in this Section 3.1.2 or otherwise provided in any charter of the Committee. Without limiting
the generality of the foregoing, the Committee may be the Compensation Committee of the Board or a subcommittee thereof if the Compensation Committee of the Board or such
subcommittee satisfies the foregoing requirements. 

3.1.3   Other Committees. 

The Board also may appoint one or more committees of the Board, each composed of one or more directors of the Company who need not be Outside Directors, which (a) may
administer the Plan with respect to Grantees who are not Officers or directors of the Company, (b) may grant Awards under the Plan to such Grantees, and (c) may determine all terms of
such Awards, in each case, excluding (for the avoidance of doubt) Performance-Based Awards intending to constitute Qualified Performance-Based Compensation and subject, if applicable,
to the requirements of Rule 16b-3 under the Exchange Act and the rules of any Stock Exchange or Securities Market on which the Stock is listed or publicly traded. 

3.1.4   Delegation by the Committee. 

To the extent permitted by Applicable Laws, the Committee may, by resolution, delegate some or all of its authority with respect to the Plan and Awards to the Chief Executive Officer
of the Company and/or any other officer of the Company designated by the Committee, provided that the Committee may not delegate its authority hereunder (a) to make Awards to directors
of the Company, (b) to make Awards to Employees who are (i) Officers, (ii) Covered Employees, or (iii) officers of the Company who are delegated authority by the Committee pursuant to this
Section 3.1.4, or (c) to interpret the Plan, any Award, or any Award Agreement. Any delegation hereunder shall be subject to the restrictions and limits that the Committee specifies at
the time of such delegation or thereafter. Nothing in the Plan shall be construed as obligating the Committee to delegate authority to any officer of the Company, and the Committee may at
any time rescind the authority delegated to an officer of the Company appointed hereunder and delegate authority to one or more other officers of the Company. At all times, an officer of the
Company delegated authority pursuant to this Section 3.1.4 shall serve in such capacity at the pleasure of the Committee. Any action undertaken by any such officer of the Company
in accordance with the Committee's delegation of authority shall have the same force and effect as if undertaken directly by the Committee, and any reference in the Plan to the "Committee"
shall, to the extent consistent with the terms and limitations of such delegation, be deemed to include a reference to each such officer.

3.2   Board. 

The Board, from time to time, may exercise any or all of the powers and authorities related to the administration and implementation of the Plan, as set forth in
Section 3.1 and other applicable provisions of the Plan, as the Board shall determine, consistent with the Company's articles of incorporation and bylaws and Applicable Laws.

                                                                          7

3.3   Terms of Awards. 

3.3.1   Committee Authority. 

Subject to the other terms and conditions of the Plan, the Committee shall have full and final authority to: 

	designate Grantees; 
	determine the type or types of Awards to be made to a Grantee; 
	determine the number of shares of Stock to be subject to an Award or to which an Award relates; 
	establish the terms and conditions of each Award (including the Option Price, the SAR Price, and the purchase price for applicable Awards; the nature and duration of any restriction or
condition (or provision for  lapse thereof) relating to the vesting, exercise, transfer, or forfeiture of an Award or the shares of Stock subject thereto; the treatment of an Award in the event of a
Change in Control (subject to applicable agreements); and any terms or conditions that may be necessary to qualify Options as Incentive Stock Options); 
	prescribe the form of each Award Agreement evidencing an Award; 
	subject to the limitation on repricing in Section 3.4, amend, modify, or supplement the terms of any outstanding Award, which authority shall include the authority, in order
to effectuate the purposes of the Plan but without amending the Plan, to make Awards or to modify outstanding Awards made to eligible natural Persons who are foreign nationals or are
natural Persons who are employed outside the United States to reflect differences in local law, tax policy, or custom; provided that, notwithstanding the foregoing, no amendment,
modification, or supplement of the terms of any outstanding Award shall, without the consent of the Grantee thereof, materially impair such Grantee's rights under such Award; and 
	make Substitute Awards. 

3.3.2   Forfeiture; Recoupment. 

The Committee may reserve the right in an Award Agreement to cause a forfeiture of the gain realized by a Grantee with respect to an Award thereunder on account of actions taken
by, or failed to be taken by, such Grantee in violation or breach of, or in conflict with, any (a) employment agreement, (b) non-competition agreement, (c) agreement
prohibiting solicitation of Employees or clients of the Company or an Affiliate, (d) confidentiality obligation with respect to the Company or an Affiliate, (e) Company or Affiliate
policy or procedure, (f) other agreement, or (g) other obligation of such Grantee to the Company or an Affiliate, as and to the extent specified in such Award Agreement. If the Grantee
of an outstanding Award is an Employee of the Company or an Affiliate and such Grantee's Service is terminated for Cause, the Committee may annul such Grantee's outstanding Award as
of the date of the Grantee's termination of Service for Cause. 

Any Award granted pursuant to the Plan shall be subject to mandatory repayment by the Grantee to the Company (x) to the extent set forth in an Award Agreement or (y) to the extent the
Grantee is, or in the future becomes, subject to (1) any Company or Affiliate "clawback" or recoupment policy that is adopted to comply with the requirements of any Applicable Laws, or
(2) any Applicable Laws which impose mandatory recoupment, under circumstances set forth in such Applicable Laws, and in the event of an inconsistency between (x), (y)(1) and
(y)(2), the provision of broadest applicability shall apply.

3.4   No Repricing. 

Except in connection with a corporate transaction involving the Company (including, without limitation, any stock dividend, distribution (whether in the form of cash, shares of Stock,
other securities, or other property), stock split, extraordinary dividend, recapitalization, Change in Control, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or
exchange of shares of Stock, or other securities or similar transaction), the Company may not: (a) amend the terms of outstanding Options or SARs to reduce the Option Price or SAR
Price, as applicable, of such outstanding Options or SARs; (b) cancel outstanding Options or SARs in exchange for or substitution of Options or SARs with an Option Price or SAR
Price, as applicable, that is less than the Option Price or SAR Price, as applicable, of the original Options or SARs; or (c) cancel outstanding Options or SARs with an Option Price or
SAR Price, as applicable, above the current Fair Market Value in exchange for cash or other securities, in each case, unless such action is subject to and approved by the Company's
shareholders.

                                                                          8

3.5   Deferral Arrangement. 

The Committee may permit or require the deferral of any payment pursuant to any Award into a deferred compensation arrangement, subject to such rules and procedures as it may
establish, which may include provisions for the payment or crediting of interest or Dividend Equivalent Rights and, in connection therewith, provisions for converting such credits into Deferred
Stock Units and for restricting deferrals to comply with hardship distribution rules affecting tax-qualified retirement plans subject to Code Section 401(k)(2)(B)(IV); provided that
no Dividend Equivalent Rights may be granted in connection with, or related to, an Award of Options or SARs. Any such deferrals shall be made in a manner that complies with Code
Section 409A, including, if applicable, with respect to when a Separation from Service occurs.

3.6   Registration; Share Certificates. 

Notwithstanding any provision of the Plan to the contrary, the ownership of the shares of Stock issued under the Plan may be evidenced in such a manner as the Committee, in its
sole discretion, deems appropriate, including by book-entry or direct registration (including transaction advices) or the issuance of one or more share certificates. 

4.   STOCK SUBJECT TO THE PLAN 

4.1   Number of Shares of Stock Available for Awards. 

Subject to such additional shares of Stock as shall be available for issuance under the Plan pursuant to Section 4.2, and subject to adjustment pursuant to Section
16, the maximum number of shares of Stock reserved for issuance under the Plan shall be amended from 1.0 million to 1.6 million shares plus (i) the number of shares of Stock available
for future awards under the Prior Plans as of the Effective Date, plus (ii) the number of shares of Stock related to awards outstanding under the Prior Plans as of the Effective Date that
thereafter terminate by expiration or forfeiture, cancellation, or otherwise without the issuance of such shares of Stock (collectively, the "Share Limit"). Such shares of Stock may be
authorized and unissued shares of Stock, treasury shares of Stock, or any combination of the foregoing, as may be determined from time to time by the Board or by the Committee. Any of the
shares of Stock reserved and available for issuance under the Plan may be used for any type of Award under the Plan, and any or all of the shares of Stock reserved for issuance under the
Plan shall be available for issuance pursuant to Incentive Stock Options. 

4.2   Adjustments in Authorized Shares of Stock. 

In connection with mergers, reorganizations, separations, or other transactions to which Code Section 424(a) applies, the Committee shall have the right to cause the
Company to assume awards previously granted under a compensatory plan of another business entity that is a party to such transaction and to grant Substitute Awards under the Plan for
such awards. The Share Limit shall neither be increased nor decreased by the number of shares of Stock subject to any such assumed awards and Substitute Awards. Shares available for
issuance under a shareholder-approved plan of a business entity that is a party to such transaction (as appropriately adjusted, if necessary, to reflect such transaction) may be used for
Awards under the Plan and shall not reduce the number of shares of Stock otherwise available for issuance under the Plan, subject to applicable rules of any Stock Exchange or Securities
Market on which the Stock is listed or publicly traded. 

4.3   Share Usage. 

	Shares of Stock subject to an Award shall be counted as used as of the Grant Date for purposes of calculating the number of shares of Stock available for issuance under
Section 4.1. 

	Any shares of Stock that are subject to Awards, including shares of Stock acquired through dividend reinvestment pursuant to Article 10, shall be
counted against the Share Limit as one (1) share of Stock for every one (1) share of Stock subject to an Award. The number of shares of Stock subject to an Award of Stock-settled
SARs shall be counted against the Share Limit as one (1) share of Stock for every one (1) share of Stock subject to such Award regardless of the number of shares of Stock actually issued to
settle such SARs upon the exercise of the SARs. A number of shares of Stock at least equal to the target number of shares issuable under Performance Shares shall be counted against the
Share Limit as of the Grant Date, but such number shall be adjusted to equal the actual number of shares issued upon settlement of the Performance Shares to the extent different from such
number of shares. Awards that do not entitle the Grantee thereof to receive or purchase shares of Stock and Awards that are settled in cash shall not be counted against the Share Limit
set forth in Section 4.1. 

                                                                          9

	If any shares of Stock subject to an Award are not purchased or are forfeited or expire or if an Award otherwise terminates without delivery of any Stock subject thereto or is settled in
cash in lieu of shares, then the number of shares of Stock counted against the Share Limit with respect to such Award shall, to the extent of any such forfeiture, termination, expiration, or
settlement, again be available for making Awards under the Plan. 

	The number of shares of Stock available for issuance under the Plan shall not be increased by the number of shares of Stock (i) tendered, withheld, or subject to an Option granted under
the Plan surrendered in connection with the payment of the Option Price upon exercise of an Option or in connection with the Company's tax withholding obligations with respect to Options or
Stock-settled SARs, (ii) that were not issued upon the net settlement or net exercise of a Stock-settled SAR granted under the Plan, (iii) deducted or delivered from payment of an Award
granted under the Plan in connection with the Company's tax withholding obligations as provided in Section 18.3, or (iv) purchased by the Company with proceeds from Option
exercises. 

5.   TERM; AMENDMENT, SUSPENSION, AND TERMINATION 

5.1   Term. 

The Plan shall become effective as of the Effective Date. Following the Effective Date, no awards shall be made under the Prior Plans. The Plan shall terminate on the first to occur
of (a) the day before the tenth (10th) anniversary of the Effective Date, (b) the date determined in accordance with Section 5.2, and (c) the date determined in
accordance with Section 16.3; provided, however, that Incentive Stock Options may not be granted under the Plan after the tenth (10th) anniversary of the date of the Board's
adoption of the Plan. Upon such termination of the Plan, all outstanding Awards shall continue to have full force and effect in accordance with the provisions of the terminated Plan and the
applicable Award Agreement (or other documents evidencing such Awards). 

5.2   Amendment, Suspension, and
Termination. 

The Board may, at any time and from time to time, amend, suspend, or terminate the Plan; provided that, with respect to Awards theretofore granted under the Plan, no amendment,
suspension, or termination of the Plan shall, without the consent of the Grantee, materially impair the rights or obligations under any such Award. The effectiveness of any amendment to the
Plan shall be contingent on approval of such amendment by the Company's shareholders to the extent provided by the Board or required by Applicable Laws; provided that no amendment
shall be made to the no-repricing provisions of Section 3.4, the Option Pricing provisions of Section 8.1, or the SAR Pricing provisions of Section 9.1
without the approval of the Company's shareholders. 

6.   AWARD ELIGIBILITY AND LIMITATIONS 

6.1   Eligible Grantees. 

Subject to this Article 6, Awards may be made under the Plan to (a) any Service Provider, as the Committee shall determine and designate from time to time, and (b)
any other individual whose participation in the Plan is determined to be in the best interests of the Company by the Committee.

6.2   Limitation on Shares of Stock
Subject to Awards and Cash Awards. 

During any time when the Company has any class of common equity securities registered under Section 12 of the Exchange Act, but subject to adjustment as provided in Article 16: 

	The maximum number of shares of Stock that may be granted under the Plan, pursuant to Options or SARs, in a calendar year to any Person eligible for an Award under
Section 6.1, other than a non-employee director of the Company, is five hundred thousand (500,000) shares; 

	The maximum number of shares of Stock that may be granted under the Plan, pursuant to Awards other than Options or SARs that are intended to be Qualified Performance-Based
Compensation and are Stock-denominated and are either Stock- or cash-settled, in a calendar year to any Person eligible for an Award under Section 6.1 who is a Covered
Employee is five hundred thousand (500,000) shares; 

	The maximum number of shares of Stock subject to Awards granted during a single calendar year to any non-employee director, taken together with any cash fees paid to such non-employee
director during the calendar year, shall not exceed five hundred thousand dollars ($500,000) in total value (calculating the value of any such Awards based on the grant date fair
value of such Awards for financial reporting purposes); and 

                                                                          10

	The maximum amount that may be paid as a cash-denominated Performance-Based Award (whether or not cash-settled) that is intended to qualify as Performance-Based Compensation
for a Performance Period of twelve (12) months or less to any Person eligible for an Award under Section 6.1 who is a Covered Employee shall be ten million dollars
($10,000,000), and the maximum amount that may be paid as a cash-denominated Performance-Based Award (whether or not cash-settled) that is intended to qualify as Performance-Based
Compensation for a Performance Period of greater than twelve (12) months to any Person eligible for an Award under Section 6.1 who is a Covered Employee
shall be ten million dollars ($10,000,000) times the number of years in the Performance Period. 

6.3   Stand-Alone, Additional, Tandem, and Substitute Awards. 

Subject to Section 3.4, Awards granted under the Plan may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in
substitution or exchange for, (a) any other Award, (b) any award granted under another plan of the Company, an Affiliate, or any business entity that has been a party to a
transaction with the Company or an Affiliate, or (c) any other right of a Grantee to receive payment from the Company or an Affiliate. Such additional, tandem, exchange, or Substitute
Awards may be granted at any time. If an Award is granted in substitution or exchange for another Award, or for an award granted under another plan of the Company, an Affiliate, or any
business entity that has been a party to a transaction with the Company or an Affiliate, the Committee shall require the surrender of such other Award or award under such other plan in
consideration for the grant of such exchange or Substitute Award. In addition, Awards may be granted in lieu of cash compensation, including in lieu of cash payments under other plans of
the Company or an Affiliate. Notwithstanding Section 8.1 and Section 9.1, but subject to Section 3.4, the Option Price of an Option or the SAR
Price of a SAR that is a Substitute Award may be less than one hundred percent (100%) of the Fair Market Value of a share of Stock on the original Grant Date; provided that such
Option Price or SAR Price is determined in accordance with the principles of Code Section 424 for any Incentive Stock Option and consistent with Code Section 409A for any other
Option or SAR.

7.   AWARD AGREEMENT 

Each Award granted pursuant to the Plan shall be evidenced by an Award Agreement, which shall be in such form or forms as the Committee shall from time to time determine.
Award Agreements utilized under the Plan from time to time or at the same time need not contain similar provisions but shall be consistent with the terms of the Plan. Each Award Agreement
evidencing an Award of Options shall specify whether such Options are intended to be Non-qualified Stock Options or Incentive Stock Options, and, in the absence of such specification, such
Options shall be deemed to constitute Non-qualified Stock Options. In the event of any inconsistency between the Plan and an Award Agreement, the provisions of the Plan shall control. 

8.   TERMS AND CONDITIONS OF OPTIONS 

8.1   Option Price. 

The Option Price of each Option shall be fixed by the Committee and stated in the Award Agreement evidencing such Option. Except in the case of Substitute Awards, the Option
Price of each Option shall be at least the Fair Market Value of one (1) share of Stock on the Grant Date; provided that, in the event that a Grantee is a Ten Percent Shareholder, the
Option Price of an Option granted to such Grantee that is intended to be an Incentive Stock Option shall be not less than one hundred ten percent (110%) of the Fair Market Value of one (1)
share of Stock on the Grant Date. In no case shall the Option Price of any Option be less than the par value of one (1) share of Stock. 

8.2   Vesting and Exercisability. 

Subject to Sections 8.3 and 16.3, each Option granted under the Plan shall become vested and/or exercisable at such times and under such conditions as shall be
determined by the Committee and stated in the Award Agreement, in another agreement with the Grantee, or otherwise in writing.

8.3   Term. 

Each Option granted under the Plan shall terminate, and all rights to purchase shares of Stock thereunder shall cease, on the day before the tenth (10th) anniversary of the
Grant Date of such Option, or under such circumstances and on such date prior thereto as is set forth in the Plan or as may be fixed by the Committee and stated in the Award Agreement
relating to such Option; provided that, in the event that the Grantee is a Ten Percent Shareholder, an Option granted to such Grantee that is intended to be an Incentive Stock Option shall not
be exercisable after the day before the fifth (5th) anniversary of the Grant Date of such Option.

                                                                          11

8.4   Termination of Service. 

Each Award Agreement with respect to the grant of an Option shall set forth the extent to which the Grantee thereof, if at all, shall have the right to exercise such Option following
termination of such Grantee's Service. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Options issued pursuant to the Plan, and
may reflect distinctions based on the reasons for termination of Service. 

8.5   Limitations on Exercise of Option. 

Notwithstanding any provision of the Plan to the contrary, in no event may any Option be exercised, in whole or in part, after the occurrence of an event referred to in
Article 16 which results in the termination of such Option. 

8.6   Method of Exercise. 

Subject to the terms of Article 14 and Section 18.3, an Option that is exercisable may be exercised by the Grantee's delivery to the Company or its
designee or agent of notice of exercise on any business day, at the Company's principal office or the office of such designee or agent, on the form specified by the Company and in
accordance with any additional procedures specified by the Committee. Such notice shall specify the number of shares of Stock with respect to which such Option is being exercised and shall
be accompanied by payment in full of the Option Price of the shares of Stock for which such Option is being exercised, plus the amount (if any) of federal and/or other taxes which the
Company may, in its judgment, be required to withhold with respect to the exercise of such Option. 

8.7   Rights of Holders of Options. 

Unless otherwise stated in the applicable Award Agreement, a Grantee or other Person holding or exercising an Option shall have none of the rights of a shareholder of the Company
(for example, the right to receive cash or dividend payments or distributions attributable to the shares of Stock subject to such Option, to direct the voting of the shares of Stock subject to
such Option, or to receive notice of any meeting of the Company's shareholders) until the shares of Stock subject thereto are fully paid and issued to such Grantee or other Person. Except as
provided in Article 16, no adjustment shall be made for dividends, distributions, or other rights with respect to any shares of Stock subject to an Option for which the record
date is prior to the date of issuance of such shares of Stock. 

8.8   Delivery of Stock. 

Promptly after the exercise of an Option by a Grantee and the payment in full of the Option Price with respect thereto, such Grantee shall be entitled to receive such evidence of such
Grantee's ownership of the shares of Stock subject to such Option as shall be consistent with Section 3.6. 

8.9   Transferability of Options. 

Except as provided in Section 8.10, during the lifetime of a Grantee of an Option, only such Grantee (or, in the event of such Grantee's legal incapacity or
incompetency, such Grantee's guardian or legal representative) may exercise such Option. Except as provided in Section 8.10, no Option shall be assignable or transferable
by the Grantee to whom it is granted, other than by will or the laws of descent and distribution. 

8.10   Family Transfers. 

If authorized in the applicable Award Agreement or by the Committee, in its sole discretion, a Grantee may transfer, not for value, all or part of an Option which is not an Incentive
Stock Option to any Family Member. For the purpose of this Section 8.10, a transfer "not for value" is a transfer which is (a) a gift, (b) a transfer under a domestic
relations order in settlement of marital property rights, or (c) unless Applicable Laws do not permit such transfer, a transfer to an entity in which more than fifty percent (50%) of
the voting interests are owned by Family Members (and/or the Grantee) in exchange for an interest in such entity. Following a transfer under this Section 8.10, any such Option
shall continue to be subject to the same terms and conditions as were applicable immediately prior to such transfer. Subsequent transfers of transferred Options shall be prohibited except to
Family Members of the original Grantee in accordance with this Section 8.10 or by will or the laws of descent and distribution. The provisions of Section 8.4
relating to termination of Service shall continue to be applied with respect to the original Grantee of the Option, following which such Option shall be exercisable by the transferee only to the
extent, and for the periods specified, in Section 8.4. 

                                                                          12

8.11   Limitations on Incentive Stock Options. 

An Option shall constitute an Incentive Stock Option only (a) if the Grantee of such Option is an Employee of the Company or any corporate Subsidiary, (b) to the extent specifically
provided in the related Award Agreement, and (c) to the extent that the aggregate Fair Market Value (determined at the time such Option is granted) of the shares of Stock with respect to
which all Incentive Stock Options held by such Grantee become exercisable for the first time during any calendar year (under the Plan and all other plans of the Company and its Affiliates)
does not exceed one hundred thousand dollars ($100,000). Except to the extent provided in the regulations under Code Section 422, this limitation shall be applied by taking Options into
account in the order in which they were granted. 

8.12   Notice of Disqualifying Disposition. 

If any Grantee shall make any disposition of shares of Stock issued pursuant to the exercise of an Incentive Stock Option under the circumstances provided in Code Section 421(b)
(relating to certain disqualifying dispositions), such Grantee shall notify the Company of such disposition immediately but in no event later than ten (10) days thereafter.

9.   TERMS AND CONDITIONS OF STOCK APPRECIATION RIGHTS 

9.1   Right to Payment and SAR Price. 

A SAR shall confer on the Grantee to whom it is granted a right to receive, upon exercise thereof, the excess of (a) the Fair Market Value of one (1) share of Stock on
the date of exercise, over (b) the SAR Price as determined by the Committee. The Award Agreement for a SAR shall specify the SAR Price, which shall be no less than the Fair Market
Value of one (1) share of Stock on the Grant Date of such SAR. SARs may be granted in tandem with all or part of an Option granted under the Plan or at any subsequent time during
the term of such Option, in combination with all or any part of any other Award, or without regard to any Option or other Award; provided that a SAR that is granted in tandem with all or part of
an Option shall have the same term, and expire at the same time, as the related Option. 

9.2   Other Terms. 

The Committee shall determine, on the Grant Date or thereafter, the time or times at which, and the circumstances under which, a SAR may be exercised in whole or in part
(including based on achievement of performance goals and/or future Service requirements); the time or times at which SARs shall cease to be or become exercisable following termination of
Service or upon other conditions; the method of exercise, method of settlement, form of consideration payable in settlement, method by or forms in which shares of Stock shall be delivered or
deemed to be delivered to Grantees, whether or not a SAR shall be granted in tandem or in combination with any other Award; and any and all other terms and conditions of any SAR;
provided that no SARs shall be granted to Grantees who are entitled to overtime under Applicable Laws that will vest or be exercisable within a six (6)-month period starting on the
Grant Date. 

9.3   Term. 

Each SAR granted under the Plan shall terminate, and all rights thereunder shall cease, on the day before the tenth (10th) anniversary of the Grant Date of such SAR or under
such circumstances and on such date prior thereto as is set forth in the Plan or as may be fixed by the Committee and stated in the Award Agreement relating to such SAR. 

9.4   Rights of Holders of SARs. 

Unless otherwise stated in the applicable Award Agreement, a Grantee or other Person holding or exercising a SAR shall have none of the rights of a shareholder of the Company
(for example, the right to receive cash or dividend payments or distributions attributable to the shares of Stock underlying such SAR, to direct the voting of the shares of Stock underlying such
SAR, or to receive notice of any meeting of the Company's shareholders) until the shares of Stock underlying such SAR, if any, are issued to such Grantee or other Person. Except as
provided in Article 16, no adjustment shall be made for dividends, distributions, or other rights with respect to any shares of Stock underlying a SAR for which the record date is
prior to the date of issuance of such shares of Stock, if any.

                                                                          13

9.5   Transferability of SARs. 

Except as provided in Section 9.6, during the lifetime of a Grantee of a SAR, only the Grantee (or, in the event of such Grantee's legal incapacity or incompetency,
such Grantee's guardian or legal representative) may exercise such SAR. Except as provided in Section 9.6, no SAR shall be assignable or transferable by the Grantee to
whom it is granted, other than by will or the laws of descent and distribution. 

9.6   Family Transfers. 

If authorized in the applicable Award Agreement or by the Committee, in its sole discretion, a Grantee may transfer, not for value, all or part of a SAR to any Family Member. For the
purpose of this Section 9.6, a transfer "not for value" is a transfer which is (a) a gift, (b) a transfer under a domestic relations order in settlement of marital property
rights, or (c) unless Applicable Laws do not permit such transfer, a transfer to an entity in which more than fifty percent (50%) of the voting interests are owned by Family
Members (and/or the Grantee) in exchange for an interest in such entity. Following a transfer under this Section 9.6, any such SAR shall continue to be subject to the same
terms and conditions as were in effect immediately prior to such transfer. Subsequent transfers of transferred SARs shall be prohibited except to Family Members of the original Grantee in
accordance with this Section 9.6 or by will or the laws of descent and distribution. 

10.   TERMS AND CONDITIONS OF RESTRICTED STOCK,
RESTRICTED STOCK UNITS, AND DEFERRED STOCK UNITS 

10.1   Grant of Restricted Stock, Restricted Stock Units, and Deferred Stock Units. 

Awards of Restricted Stock, Restricted Stock Units, and Deferred Stock Units may be made for consideration or for no consideration, other than the par value of the shares of Stock,
which shall be deemed paid by past Service or, if so provided in the related Award Agreement or a separate agreement, the promise by the Grantee to perform future Service to the Company
or an Affiliate. 

10.2   Restrictions. 

At the time a grant of Restricted Stock, Restricted Stock Units, or Deferred Stock Units is made, the Committee may, in its sole discretion, (a) establish a Restricted Period
applicable to such Restricted Stock, Restricted Stock Units, or Deferred Stock Units and (b) prescribe restrictions in addition to or other than the expiration of the Restricted Period,
including the achievement of corporate or individual performance goals, which may be applicable to all or any portion of such Restricted Stock, Restricted Stock Units, or Deferred Stock Units
as provided in Article 13. Awards of Restricted Stock, Restricted Stock Units, and Deferred Stock Units may not be sold, transferred, assigned, pledged, or otherwise
encumbered or disposed of during the Restricted Period or prior to the satisfaction of any other restrictions prescribed by the Committee with respect to such Awards. 

10.3   Registration; Restricted Stock Certificates. 

Pursuant to Section 3.6, to the extent that ownership of Restricted Stock is evidenced by a book-entry registration or direct registration (including transaction advices),
such registration shall be notated to evidence the restrictions imposed on such Award of Restricted Stock under the Plan and the applicable Award Agreement. Subject to
Section 3.6 and the immediately following sentence, the Company may issue, in the name of each Grantee to whom Restricted Stock has been granted, certificates
representing the total number of shares of Restricted Stock granted to the Grantee, as soon as reasonably practicable after the Grant Date of such Restricted Stock. The Committee may
provide in an Award Agreement with respect to an Award of Restricted Stock that either (a) the Secretary of the Company shall hold such certificates for such Grantee's benefit until
such time as such shares of Restricted Stock are forfeited to the Company or the restrictions applicable thereto lapse and such Grantee shall deliver a stock power to the Company with
respect to each certificate, or (b) such certificates shall be delivered to such Grantee, provided that such certificates shall bear legends that comply with Applicable Laws and
make appropriate reference to the restrictions imposed on such Award of Restricted Stock under the Plan and such Award Agreement. 

10.4   Rights of Holders of Restricted
Stock. 

Unless the Committee provides otherwise in an Award Agreement and subject to the restrictions set forth in the Plan, any applicable Company program, and the applicable Award
Agreement, holders of Restricted Stock shall have the right to vote such shares of Restricted Stock and the right to receive any dividend payments or distributions declared or paid with
respect to such shares of Restricted Stock. The Committee may provide in an Award Agreement evidencing a grant of Restricted Stock that (a) any cash dividend payments or distributions
paid on Restricted Stock shall be reinvested in shares of Stock, which may or may not

                                                                          14

be subject to the same vesting conditions and restrictions as applicable to such underlying shares of
Restricted Stock or (b) any dividend payments or distributions declared or paid on shares of Restricted Stock shall only be made or paid upon satisfaction of the vesting conditions and
restrictions applicable to such shares of Restricted Stock. Notwithstanding the foregoing, cash dividends declared or paid on shares of Restricted Stock shall not vest or become payable
unless and until the shares of Restricted Stock to which the dividends apply become vested and nonforfeitable. All stock dividend payments or distributions, if any, received by a Grantee with
respect to shares of Restricted Stock as a result of any stock split, stock dividend, combination of stock, or other similar transaction shall be subject to the same vesting conditions and
restrictions as applicable to such underlying shares of Restricted Stock. 

10.5   Rights of Holders of Restricted Stock Units and Deferred Stock Units. 

10.5.1   Voting and Dividend Rights. 

Holders of Restricted Stock Units and Deferred Stock Units shall have no rights as shareholders of the Company (for example, the right to receive dividend payments or distributions
attributable to the shares of Stock underlying such Restricted Stock Units and Deferred Stock Units, to direct the voting of the shares of Stock underlying such Restricted Stock Units and
Deferred Stock Units, or to receive notice of any meeting of the Company's shareholders). The Committee may provide in an Award Agreement evidencing an Award of Restricted Stock Units
or Deferred Stock Units that the holder thereof shall be entitled to receive Dividend Equivalent Rights with respect to each Restricted Stock Unit or Deferred Stock Unit. 

10.5.2   Creditor's Rights. 

A holder of Restricted Stock Units or Deferred Stock Units shall have no rights other than those of a general unsecured creditor of the Company. Restricted Stock Units and Deferred
Stock Units represent unfunded and unsecured obligations of the Company, subject to the terms and conditions of the applicable Award Agreement. 

10.6   Termination of Service. 

Unless the Committee provides otherwise in an Award Agreement, in another agreement with the Grantee, or otherwise in writing after such Award Agreement is issued, but prior to
termination of Grantee's Service, upon the termination of such Grantee's Service, any Restricted Stock, Restricted Stock Units, or Deferred Stock Units held by such Grantee that have not
vested, or with respect to which all applicable restrictions and conditions have not lapsed, shall immediately be deemed forfeited. Upon forfeiture of such Restricted Stock, Restricted Stock
Units, or Deferred Stock Units, the Grantee thereof shall have no further rights with respect thereto, including any right to vote such Restricted Stock or any right to receive dividends or
Dividend Equivalent Rights, as applicable, with respect to such Restricted Stock, Restricted Stock Units, or Deferred Stock Units. 

10.7   Purchase of Restricted Stock and Shares of Stock Subject to Restricted Stock Units and Deferred
Stock Units. 

The Grantee of an Award of Restricted Stock, vested Restricted Stock Units, or vested Deferred Stock Units shall be required, to the extent required by Applicable Laws, to purchase
such Restricted Stock or the shares of Stock subject to such vested Restricted Stock Units or Deferred Stock Units from the Company at a purchase price equal to the greater of (x) the
aggregate par value of the shares of Stock represented by such Restricted Stock or such vested Restricted Stock Units or Deferred Stock Units or (y) the purchase price, if any,
specified in the Award Agreement relating to such Restricted Stock or such vested Restricted Stock Units or Deferred Stock Units. Such purchase price shall be payable in a form provided in
Article 14 or, in the sole discretion of the Committee, in consideration for Service rendered or to be rendered by the Grantee to the Company or an Affiliate. 

10.8   Delivery of Shares of Stock. 

Upon the expiration or termination of any Restricted Period and the satisfaction of any other conditions prescribed by the Committee, including, without limitation, any performance
goals or delayed delivery period, the restrictions applicable to Restricted Stock, Restricted Stock Units, or Deferred Stock Units settled in shares of Stock shall lapse, and, unless otherwise
provided in the applicable Award Agreement, a book-entry or direct registration (including transaction advices) or a certificate evidencing ownership of such shares of Stock shall, consistent
with Section 3.6, be issued, free of all such restrictions, to the Grantee thereof or such Grantee's beneficiary or estate, as the case may be. Neither the Grantee, nor the
Grantee's beneficiary or estate, shall have any further rights with regard to a Restricted Stock Unit or Deferred Stock Unit once the shares of Stock represented by such Restricted Stock Unit
or Deferred Stock Unit have been delivered in accordance with this Section 10.8. 

                                                                          15

11.   TERMS AND CONDITIONS OF UNRESTRICTED STOCK AWARDS
AND OTHER EQUITY-BASED AWARDS 

11.1   Unrestricted Stock Awards. 

The Committee may, in its sole discretion, grant (or sell at the par value of a share of Stock or at such other higher purchase price as shall be determined by the Committee) an
Award to any Grantee pursuant to which such Grantee may receive shares of Unrestricted Stock under the Plan. Awards of Unrestricted Stock may be granted or sold to any Grantee as
provided in the immediately preceding sentence in respect of Service rendered or, if so provided in the related Award Agreement or a separate agreement, to be rendered by the Grantee to
the Company or an Affiliate or other valid consideration, in lieu of or in addition to any cash compensation due to such Grantee. 

11.2   Other Equity-Based Awards. 

The Committee may, in its sole discretion, grant Awards in the form of Other Equity-Based Awards, as deemed by the Committee to be consistent with the purposes of the Plan.
Awards granted pursuant to this Section 11.2 may be granted with vesting, value, and/or payment contingent upon the achievement of one or more performance goals. The
Committee shall determine the terms and conditions of Other Equity-Based Awards on the Grant Date or thereafter. Unless the Committee provides otherwise in an Award Agreement, in
another agreement with the Grantee, or otherwise in writing after such Award Agreement is issued, but prior to termination of the Grantee's Service, upon the termination of a Grantee's
Service, any Other Equity-Based Awards held by such Grantee that have not vested, or with respect to which all applicable restrictions and conditions have not lapsed, shall immediately be
deemed forfeited. Upon forfeiture of any Other Equity-Based Award, the Grantee thereof shall have no further rights with respect to such Other Equity-Based Award.

12.   TERMS AND CONDITIONS OF DIVIDEND EQUIVALENT RIGHTS 

12.1   Dividend Equivalent Rights. 

A Dividend Equivalent Right may be granted hereunder, provided that no Dividend Equivalent Rights may be granted in connection with, or related to, an Award of Options or
SARs. The terms and conditions of Dividend Equivalent Rights shall be specified in the Award Agreement therefor. Dividend equivalents credited to the holder of a Dividend Equivalent Right
may be paid currently (with or without being subject to forfeiture or a repayment obligation) or may be deemed to be reinvested in additional shares of Stock or Awards, which may thereafter
accrue additional Dividend Equivalent Rights (with or without being subject to forfeiture or a repayment obligation). Dividend Equivalent Rights may be settled in cash, shares of Stock, or a
combination thereof, in a single installment or in multiple installments, all as determined in the sole discretion of the Committee. A Dividend Equivalent Right granted as a component of
another Award may (a) provide that such Dividend Equivalent Right shall be settled upon exercise, settlement, or payment of, or lapse of restrictions on, such other Award and that such
Dividend Equivalent Right shall expire or be forfeited or annulled under the same conditions as such other Award or (b) contain terms and conditions which are different from the terms and
conditions of such other Award, provided that Dividend Equivalent Rights granted as a component of another Award shall not vest or become payable unless and until the Award to
which the Dividend Equivalent Rights correspond becomes vested and settled. 

12.2   Termination of Service. 

Unless the Committee provides otherwise in an Award Agreement, in another agreement with the Grantee, or otherwise in writing after such Award Agreement is issued, a Grantee's
rights in all Dividend Equivalent Rights shall automatically terminate upon such Grantee's termination of Service for any reason. 

13.   TERMS AND CONDITIONS OF PERFORMANCE-BASED AWARDS 

13.1   Grant of Performance-Based Awards. 

Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Performance-Based Awards in such amounts and upon such terms as
the Committee shall determine. 

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13.2   Value of Performance-Based Awards. 

Each grant of a Performance-Based Award shall have an initial cash value or an actual or target number of shares of Stock that is established by the Committee as of the Grant Date.
The Committee shall set performance goals in its discretion which, depending on the extent to which they are achieved, shall determine the value and/or number of shares of Stock subject to
a Performance-Based Award that shall be paid out to the Grantee thereof. 

13.3   Earning of Performance-Based Awards. 

Subject to the terms of the Plan, in particular Section 13.6.3, after the applicable Performance Period has ended, the Grantee of a Performance-Based Award shall be
entitled to receive a payout of the value earned under such Performance-Based Award by such Grantee over such Performance Period. 

13.4   Form and Timing of Payment of Performance-Based Awards. 

Payment of the value earned under Performance-Based Awards shall be made, as determined by the Committee, in the form, at the time, and in the manner described in the
applicable Award Agreement. Subject to the terms of the Plan, the Committee, in its sole discretion, (i) may pay the value earned under Performance-Based Awards in the form of cash,
shares of Stock, other Awards, or a combination thereof, including shares of Stock and/or Awards that are subject to any restrictions deemed appropriate by the Committee, and (ii) shall pay
the value earned under Performance-Based Awards at the close of the applicable Performance Period, or as soon as reasonably practicable after the Committee has determined that the
performance goal or goals relating thereto have been achieved; provided that, unless specifically provided in the Award Agreement for such Performance-Based Awards, such payment shall
occur no later than the fifteenth (15th) day of the third (3rd) month following the end of the calendar year in which such Performance Period ends. The
determination of the Committee with respect to the form of payout of such Performance-Based Awards shall be set forth in the Award Agreement therefor. 

13.5   Performance Conditions. 

The right of a Grantee to exercise or to receive a grant or settlement of any Performance-Based Award, and the timing thereof, may be subject to such performance conditions as
may be specified by the Committee. The Committee may use such business criteria and other measures of performance as it may deem appropriate in establishing any performance
conditions. If and to the extent required under Code Section 162(m), any power or authority relating to an Award intended to qualify under Code Section 162(m) shall be
exercised by the Committee and not by the Board. 

13.6   Performance-Based Awards Granted to Designated Covered Employees. 

If and to the extent that the Committee determines that a Performance-Based Award to be granted to a Grantee should constitute Qualified Performance-Based Compensation for
purposes of Code Section 162(m), the grant, exercise, and/or settlement of such Performance-Based Award shall be contingent upon achievement of pre-established performance
goals and other terms set forth in this Section 13.6. 

13.6.1   Performance Goals Generally. 

The performance goals for Performance-Based Awards shall consist of one or more business criteria and a targeted level or levels of performance with respect to each of such
criteria, as specified by the Committee consistent with this Section 13.6. Performance goals shall be objective and shall otherwise meet the requirements of Code
Section 162(m), including the requirement that the level or levels of performance targeted by the Committee result in the achievement of performance goals being "substantially
uncertain." The Committee may determine that such Awards shall be granted, exercised, and/or settled upon achievement of any single performance goal or of two (2) or more
performance goals. Performance goals may differ for Performance-Based Awards granted to any one Grantee or to different Grantees. 

13.6.2   Timing For Establishing Performance Goals. 

Performance goals for any Performance-Based Award shall be established not later than the earlier of (a) ninety (90) days after the beginning of any Performance Period
applicable to such Performance-Based Award, and (b) the date on which twenty-five percent (25%) of any Performance Period applicable to such Performance-Based Award has
expired, or at such other date as may be required or permitted for compensation payable to a Covered Employee to constitute Performance-Based Compensation. 

                                                                          17

13.6.3   Payment of Awards; Other Terms. 

Payment of Performance-Based Awards shall be in cash, shares of Stock, other Awards, or a combination thereof, including shares of Stock and/or Awards that are subject to any
restrictions deemed appropriate by the Committee, in each case as determined in the sole discretion of the Committee. The Committee may, in its sole discretion, reduce the amount of a
payment otherwise to be made in connection with such Performance-Based Awards. The Committee shall specify the circumstances in which such Performance-Based Awards shall be paid
or forfeited in the event of termination of Service by the Grantee prior to the end of a Performance Period or settlement of such Performance-Based Awards. In the event payment of the
Performance-Based Award is made in the form of another Award subject to Service-based vesting, the Committee shall specify the circumstances in which the payment Award shall be paid
or forfeited in the event of a termination of Service.

13.6.4   Performance Measures.

The performance goals upon which the vesting or payment of a Performance-Based Award to a Covered Employee that is intended to qualify as Performance-Based Compensation
may be conditioned shall be limited to the following Performance Measures, with or without adjustment (including pro forma adjustments): 

	revenues, income before taxes and extraordinary items, net income, operating income, earnings before income tax, earnings before interest, taxes, depreciation and amortization, cash
flow or a combination of any or all of the foregoing; 

	after-tax or pre-tax profits including, without limitation, that attributable to continuing and/or other operations; 

	the level of the Company's bank debt or other long-term or short-term public or private debt or other similar financial obligations of the Company either in absolute terms or as it relates to
a profitability ratio including operating income or EBITDA; 

	return on capital employed, return on assets, or return on invested capital; 

	after-tax or pre-tax return on stockholders' equity; 

	economic value added targets based on a cash flow return on investment formula; 

	Stock price, including growth measures and total shareholder return; 

	the market capitalization or enterprise value of the Company, either in amount or relative to industry peers; 

	the value of an investment in the Stock assuming the reinvestment of dividends; 

	the achievement of operating margin targets or other measures of improving profitability; 

	the filing of one or more new marketing application(s) or the approval of one or more marketing application(s) by the U.S. Food and Drug Administration; 

	the achievement of, or progress toward, a launch of one or more new drug(s); 

	the achievement of research and development milestones; 

	the achievement of other strategic milestones including, without limitation, the achievement of specific synergy capture and cost savings realization relating to integrations and the
successful creation or execution of a restructuring plan for a specific business or function; 

	the successful completion of clinical trial phases; 

	licensing or acquiring new products or product platforms; 

	acquisition or divestiture of products or business; 

	the entering into new, or exiting from existing, geographic markets or industry segments; or 

	the attainment of a certain level of, reduction of, or other specified objectives with regard to limiting the level in or increase in, all or a portion of controllable expenses or costs or other
expenses or costs. 

Performance under any of the foregoing Performance Measures (a) may be used to measure the performance of (i) the Company, its Subsidiaries, and other Affiliates as a
whole, (ii) the Company, any Subsidiary, any other Affiliate, or any combination thereof, or (iii) any one or more business units or operating segments of the Company, any Subsidiary,

                                                                          18

and/or any other Affiliate, in each case as the Committee, in its sole discretion, deems appropriate, (b) may be compared to the performance of one or more other
companies or one or more published or special indices designated or approved by the Committee for such comparison, as the Committee, in its sole discretion, deems appropriate, and (c)
may be stated as a combination of one or more Performance Measures, and on an absolute or relative basis. In addition, the Committee, in its sole discretion, may select performance under
the Performance Measure specified in clause (g) above for comparison to performance under one or more stock market indices designated or approved by the Committee. The
Committee shall also have the authority to provide for accelerated vesting of any Performance-Based Award based on the achievement of performance goals pursuant to the Performance
Measures specified in this Article 13. 

13.6.5   Evaluation of Performance. 

The Committee may provide in any Performance-Based Award that any evaluation of performance may include or exclude any of the following events that occur during a
Performance Period: (a) asset write-downs; (b) litigation or claims, judgments, or settlements; (c) the effect of changes in tax laws, accounting principles, or other laws or
provisions affecting reported results; (d) any reorganization or restructuring events or programs; (e) extraordinary, non-core, non-operating, or non-recurring items and items that
are either of an unusual nature or of a type that indicates infrequency of occurrence as a separate component of income from continuing operations; (f) acquisitions or divestitures;
(g) foreign exchange gains and losses; (h) impact of shares of Stock purchased through share repurchase programs; (i) tax valuation allowance reversals; (j) impairment expense; and
(k) environmental expense. To the extent such inclusions or exclusions affect Awards to Covered Employees that are intended to qualify as Performance-Based Compensation, such
inclusions or exclusions shall be prescribed in a form that meets the requirements of Code Section 162(m) for deductibility. 

13.6.6   Adjustment of Performance-Based Compensation. 

The Committee shall have the sole discretion to adjust Awards that are intended to qualify as Performance-Based Compensation, either on a formula or discretionary basis, or on any
combination thereof, as the Committee determines consistent with the requirements of Code Section 162(m) for deductibility. 

13.6.7   Committee Discretion. 

In the event that Applicable Laws change to permit Committee discretion to alter the governing Performance Measures without obtaining shareholder approval of such changes, the
Committee shall have sole discretion to make such changes without obtaining shareholder approval, provided that the exercise of such discretion shall not be inconsistent with the
requirements of Code Section 162(m). In addition, in the event that the Committee determines that it is advisable to grant Awards that shall not qualify as Performance-Based
Compensation, the Committee may make such grants without satisfying the requirements of Code Section 162(m) and base vesting on Performance Measures other than those set
forth in Section 13.6.4. 

13.6.8   Status of Awards Under Code Section 162(m). 

It is the intent of the Company that Performance-Based Awards under Section 13.6 granted to Grantees who are designated by the Committee as likely to be Covered
Employees shall, if so designated by the Committee, constitute Qualified Performance-Based Compensation. Accordingly, the terms of Section 13.6, including the definitions of
Covered Employee and other terms used therein, shall be interpreted in a manner consistent with Code Section 162(m). If any provision of the Plan, the applicable Award Agreement,
or any other agreement relating to any such Performance-Based Award does not comply or is inconsistent with the requirements of Code Section 162(m), such provision shall be
construed or deemed amended to the extent necessary to conform to such requirements. 

14.   FORMS OF PAYMENT 

14.1   General Rule. 

Payment of the Option Price for the shares of Stock purchased pursuant to the exercise of an Option or the purchase price, if any, for Restricted Stock, vested Restricted Stock Units,
and/or vested Deferred Stock Units shall be made in cash or in cash equivalents acceptable to the Company. 

                                                                          19

14.2   Surrender of Shares of Stock.

To the extent that the applicable Award Agreement so provides, payment of the Option Price for shares of Stock purchased pursuant to the exercise of an Option or the purchase
price, if any, for Restricted Stock, vested Restricted Stock Units, and/or vested Deferred Stock Units may be made all or in part through the tender or attestation to the Company of shares of
Stock, which shall be valued, for purposes of determining the extent to which such Option Price or purchase price has been paid thereby, at their Fair Market Value on the date of such tender
or attestation. 

14.3   Cashless Exercise. 

To the extent permitted by Applicable Laws and to the extent the Award Agreement so provides, payment of the Option Price for shares of Stock purchased pursuant to the exercise
of an Option may be made all or in part by delivery (on a form acceptable to the Committee) of an irrevocable direction to a licensed securities broker acceptable to the Company to sell
shares of Stock and to deliver all or part of the proceeds of such sale to the Company in payment of such Option Price and/or any withholding taxes described in Section 18.3.

14.4   Other Forms of Payment. 

To the extent that the applicable Award Agreement so provides and/or unless otherwise specified in an Award Agreement, payment of the Option Price for shares of Stock purchased
pursuant to exercise of an Option or the purchase price, if any, for Restricted Stock, vested Restricted Stock Units, and/or vested Deferred Stock Units may be made in any other form that is
consistent with Applicable Laws, including (a) with respect to Restricted Stock, vested Restricted Stock Units, and/or vested Deferred Stock Units only, Service rendered or to be
rendered by the Grantee thereof to the Company or an Affiliate and (b) with the consent of the Company, by withholding the number of shares of Stock that would otherwise vest or be
issuable in an amount equal in value to the Option Price or purchase price and/or the required tax withholding amount. 

15.   REQUIREMENTS OF LAW 

15.1   General. 

The Company shall not be required to offer, sell, or issue any shares of Stock under any Award, whether pursuant to the exercise of an Option, a SAR, or otherwise, if the offer, sale,
or issuance of such shares of Stock would constitute a violation by the Grantee, the Company, an Affiliate, or any other Person of any provision of the Company's articles of incorporation or
bylaws or of Applicable Laws, including any federal or state securities laws or regulations. If at any time the Company shall determine, in its discretion, that the listing, registration, or
qualification of any shares of Stock subject to an Award upon any Stock Exchange or Securities Market or under any governmental regulatory body is necessary or desirable as a condition of,
or in connection with, the offering, sale, issuance, or purchase of shares of Stock in connection with any Award, no shares of Stock may be offered, sold, or issued to the Grantee or any other
Person under such Award, whether pursuant to the exercise of an Option, a SAR, or otherwise, unless such listing, registration, or qualification shall have been effected or obtained free of
any conditions not acceptable to the Company, and any delay caused thereby shall in no way affect the date of termination of such Award. Without limiting the generality of the foregoing,
upon the exercise of any Option or any SAR that may be settled in shares of Stock or the delivery of any shares of Stock underlying an Award, unless a registration statement under the
Securities Act is in effect with respect to the shares of Stock subject to such Award, the Company shall not be required to offer, sell, or issue such shares of Stock unless the Committee shall
have received evidence satisfactory to it that the Grantee or any other Person exercising such Option or SAR or accepting delivery of such shares may acquire such shares of Stock pursuant
to an exemption from registration under the Securities Act. Any determination by the Committee in connection with the foregoing shall be final, binding, and conclusive. The Company may
register, but shall in no event be obligated to register, any shares of Stock or other securities issuable pursuant to the Plan pursuant to the Securities Act. The Company shall not be obligated
to take any affirmative action in order to cause the exercise of an Option or a SAR or the issuance of shares of Stock or other securities issuable pursuant to the Plan or any Award to comply
with any Applicable Laws. As to any jurisdiction that expressly imposes the requirement that an Option or SAR that may be settled in shares of Stock shall not be exercisable until the shares
of Stock subject to such Option or SAR are registered under the securities laws thereof or are exempt from such registration, the exercise of such Option or SAR under circumstances in
which the laws of such jurisdiction apply shall be deemed conditioned upon the effectiveness of such registration or the availability of such an exemption. 

                                                                          20

15.2   Rule 16b-3. 

During any time when the Company has any class of common equity securities registered under Section 12 of the Exchange Act, it is the intention of the Company that Awards
pursuant to the Plan and the exercise of Options and SARs granted hereunder that would otherwise be subject to Section 16(b) of the Exchange Act shall qualify for the exemption
provided by Rule 16b-3 under the Exchange Act. To the extent that any provision of the Plan or action by the Committee does not comply with the requirements of such Rule 16b-3, such
provision or action shall be deemed inoperative with respect to such Awards to the extent permitted by Applicable Laws and deemed advisable by the Committee and shall not affect the
validity of the Plan. In the event that such Rule 16b-3 is revised or replaced, the Committee may exercise its discretion to modify the Plan in any respect necessary or advisable in its
judgment to satisfy the requirements of, or to permit the Company to avail itself of the benefits of, the revised exemption or its replacement. 

16.   EFFECT OF CHANGES IN CAPITALIZATION 

16.1   Changes in Stock. 

If the number of outstanding shares of Stock is increased or decreased or the shares of Stock are changed into or exchanged for a different number of shares or kind of Capital Stock
or other securities of the Company on account of any merger, reorganization, recapitalization, reclassification, stock split, reverse stock split, spin-off, combination of stock, exchange of stock,
stock dividend or other distribution payable in capital stock, or other increase or decrease in shares of Stock effected without receipt of consideration by the Company occurring after the
Effective Date, the number and kinds of shares of Capital Stock for which grants of Options and other Awards may be made under the Plan, including the Share Limit set forth in Section
4.1 and the individual share limitations set forth in Section 6.2, shall be adjusted proportionately and accordingly by the Committee. In addition, the number and kind of
shares of Capital Stock for which Awards are outstanding shall be adjusted proportionately and accordingly by the Committee so that the proportionate interest of the Grantee therein
immediately following such event shall, to the extent practicable, be the same as immediately before such event. Any such adjustment in outstanding Options or SARs shall not change the
aggregate Option Price or SAR Price payable with respect to shares that are subject to the unexercised portion of such outstanding Options or SARs, as applicable, but shall include a
corresponding proportionate adjustment in the per share Option Price or SAR Price, as the case may be. The conversion of any convertible securities of the Company shall not be treated as
an increase in shares effected without receipt of consideration. Notwithstanding the foregoing, in the event of any distribution to the Company's shareholders of securities of any other entity or
other assets (including an extraordinary dividend, but excluding a non-extraordinary dividend, declared and paid by the Company) without receipt of consideration by the Company, the Board
or the Committee constituted pursuant to Section 3.1.2 shall, in such manner as the Board or the Committee deems appropriate, adjust (a) the Share limit set forth in
Section 4.1 and the individual share limitations set forth in Section 6.2, (b) the number and kind of shares of Capital Stock subject to outstanding Awards and/or
(c) the aggregate and per share Option Price of outstanding Options and the aggregate and per share SAR Price of outstanding SARs as required to reflect such distribution. 

16.2   Reorganization in Which the
Company Is the Surviving Entity Which Does Not Constitute a Change in Control. 

Subject to Section 16.3, if the Company shall undergo any reorganization, merger, or consolidation of the Company with one or more other entities which does not
constitute a Change in Control, any Award theretofore granted pursuant to the Plan shall pertain to and apply to the Capital Stock to which a holder of the number of shares of Stock subject to
such Award would have been entitled immediately following such reorganization, merger, or consolidation, with a corresponding proportionate adjustment of the per share Option Price or
SAR Price of any outstanding Option or SAR so that the aggregate Option Price or SAR Price thereafter shall be the same as the aggregate Option Price or SAR Price of the shares of Stock
remaining subject to the Option or SAR as in effect immediately prior to such reorganization, merger, or consolidation. Subject to any contrary language in an Award Agreement, in another
agreement with the Grantee, or as otherwise set forth in writing, any restrictions applicable to such Award shall apply as well to any replacement shares of Capital Stock subject to such
Award, or received by the Grantee, as a result of such reorganization, merger, or consolidation. In the event of any reorganization, merger, or consolidation of the Company referred to in this
Section 16.2, Performance-Based Awards shall be adjusted (including any adjustment to the Performance Measures applicable to such Awards deemed appropriate by the
Committee) so as to apply to the Capital Stock that a holder of the number of shares of Stock subject to the Performance-Based Awards would have been entitled to receive immediately
following such reorganization, merger, or consolidation. 

16.3   Change in Control in Which Awards Are Not Assumed. 

Except as otherwise provided in the applicable Award Agreement, in another agreement with the Grantee, or as otherwise set forth in writing, upon the occurrence of a Change in
Control in which outstanding Awards are not being assumed or continued, the following provisions shall apply to such Award, to the extent not assumed or continued: 

                                                                          21

	Immediately prior to the occurrence of such Change in Control, in each case with the exception of Performance-Based Awards, all outstanding shares of
Restricted Stock, and all Restricted Stock Units, Deferred Stock Units, and Dividend Equivalent Rights shall be deemed to have vested, and all shares of Stock and/or cash subject to such
Awards shall be delivered; and either or both of the following two (2) actions shall be taken: 

	At least fifteen (15) days prior to the scheduled consummation of such Change in Control, all Options and SARs outstanding hereunder shall become immediately exercisable and
shall remain exercisable for a period of fifteen (15) days. Any exercise of an Option or SAR during this fifteen (15)-day period shall be conditioned upon the consummation of the
applicable Change in Control and shall be effective only immediately before the consummation thereof, and upon consummation of such Change in Control, the Plan and all outstanding but
unexercised Options and SARs shall terminate, with or without consideration (including, without limitation, consideration in accordance with clause (ii) below) as determined by the Committee
in its sole discretion. The Committee shall send notice of an event that shall result in such a termination to all Persons who hold Options and SARs not later than the time at which the
Company gives notice thereof to its shareholders. 

and/or 

	The Committee may elect, in its sole discretion, to cancel any outstanding Awards of Options, SARs, Restricted Stock, Restricted Stock Units, Deferred Stock Units, and/or Dividend
Equivalent Rights and pay or deliver, or cause to be paid or delivered, to the holder thereof an amount in cash or Capital Stock having a value (as determined by the Committee acting in good
faith), in the case of Restricted Stock, Restricted Stock Units, Deferred Stock Units, and Dividend Equivalent Rights (for shares of Stock subject thereto), equal to the formula or fixed price per
share paid to holders of shares of Stock  pursuant to such Change in Control and, in the case of Options or SARs, equal to the product of the number of shares of Stock subject to such
Options or SARs multiplied by the amount, if any, by which (x) the formula or fixed price per share paid to holders of shares of Stock pursuant to such transaction exceeds (y) the
Option Price or SAR Price applicable to such Options or SARs. For the avoidance of doubt, if the formula or fixed price per share paid to holders of shares of Stock pursuant to such
transaction is equal to or less than the Option Price or SAR Price applicable to a given Option or SAR, then such Option or SAR may be cancelled without payment therefore. 

	Performance-Based Awards shall vest on a pro rata basis determined based on the portion of the applicable Performance Period that has elapsed through
the date of the consummation of the Change in Control, as determined by the Committee in its sole discretion. Actual performance to date shall be determined as of a date reasonably
proximal to the date of consummation of the Change in Control as determined by the Committee, in its sole discretion, and that level of performance thus determined shall be treated as
achieved immediately prior to occurrence of the Change in Control. For purposes of the preceding sentence, if, based on the discretion of the Committee, actual performance is not
determinable, the Performance-Based Awards shall be treated as though target performance has been achieved. After application of this Section 16.3(b), if any Awards arise from
application of this Article 16, such Awards shall be settled under the applicable provision of Section 16.3(a). 

	Other Equity-Based Awards shall be governed by the terms of the applicable Award Agreement. 

16.4   Change in Control in Which Awards Are Assumed. 

Except as otherwise provided in the applicable Award Agreement, in another agreement with the Grantee, or as otherwise set forth in writing, upon the occurrence of a Change in
Control in which outstanding Awards are being assumed or continued, the following provisions shall apply to such Award, to the extent assumed or continued: 

The Plan and the Options, SARs, Restricted Stock, Restricted Stock Units, Deferred Stock Units, Dividend Equivalent Rights, and Other Equity-Based Awards granted under the Plan
shall continue in the manner and under the terms so provided in the event of any Change in Control to the extent that provision is made in writing in connection with such Change in Control
for the assumption or continuation of such Options, SARs, Restricted Stock, Restricted Stock Units, Deferred Stock Units, Dividend Equivalent Rights, and Other Equity-Based Awards, or for
the substitution for such Options, SARs, Restricted Stock, Restricted Stock Units, Deferred Stock Units, Dividend Equivalent Rights, and Other Equity-Based Awards of new stock options,
stock appreciation rights, restricted stock, restricted stock units, deferred stock units, dividend equivalent rights, and other equity-based awards relating to the Capital Stock of a successor
entity, or a parent or subsidiary thereof, with appropriate adjustments as to the number of shares (disregarding any consideration that is not common stock) and exercise prices of options and
stock appreciation rights. 

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In the event an Award (other than a Performance-Based Award) is assumed, continued, or substituted upon the consummation of any Change in Control and the Service of such Grantee
with the Company or an Affiliate is terminated without Cause or for Good Reason, in each case within twelve (12) months following the consummation of such Change in Control, (i) such
Award shall become fully vested and exercisable, and (ii) the restrictions, payment conditions, and forfeiture conditions applicable to any such Award shall lapse. In the event a Performance-
Based Award is assumed, continued, or substituted upon the consummation of any Change in Control and the Service of such Grantee with the Company or an Affiliate is terminated without
Cause or for Good Reason, in each case within twelve (12) months following the consummation of such Change in Control, (i) such Performance-Based Award shall become vested and
exercisable on a pro rata basis determined based on the portion of the applicable Performance Period that has elapsed through the date of the Grantee's termination of Service, as
determined by the Committee in its sole discretion, (ii) the restrictions, payment conditions, and forfeiture conditions applicable to any such Performance-Based Award shall lapse on the same
pro rata basis, and (iii) actual performance to date shall be determined as of a date reasonably proximal to the date of the Grantee's termination of Service as determined by the Committee, in
its sole discretion, and that level of performance thus determined shall be treated as achieved immediately prior to occurrence of the Grantee's termination of Service; provided, that, if, based
on the discretion of the Committee, actual performance is not determinable, the Performance-Based Award shall be treated as though target performance has been achieved.

16.5   Adjustments. 

Adjustments under this Article 16 related to shares of Stock or other Capital Stock of the Company shall be made by the Committee, whose determination in that
respect shall be final, binding, and conclusive. No fractional shares or other securities shall be issued pursuant to any such adjustment, and any fractions resulting from any such adjustment
shall be eliminated in each case by rounding downward to the nearest whole share. The Committee may provide in the applicable Award Agreement as of the Grant Date, in another
agreement with the Grantee, or otherwise in writing at any time thereafter with the consent of the Grantee, for different provisions to apply to an Award in place of those provided in
Sections 16.1, 16.2, 16.3, and 16.4. This Article 16 shall not limit the Committee's ability to provide for alternative treatment of Awards outstanding under the
Plan in the event of an internal reorganization change in control event involving the Company that is not a Change in Control. 

16.6   No Limitations on Company. 

The making of Awards pursuant to the Plan shall not affect or limit in any way the right or power of the Company to make adjustments, reclassifications, reorganizations, or changes
of its capital or business structure or to merge, consolidate, dissolve, or liquidate, or to sell or transfer all or any part of its business or assets (including all or any part of the business or assets
of any Subsidiary or other Affiliate) or to engage in any other transaction or activity. 

17.   PARACHUTE LIMITATIONS 

If any Grantee is a Disqualified Individual, then, notwithstanding any other provision of the Plan or of any Other Agreement to the contrary and notwithstanding any Benefit
Arrangement, any right of the Grantee to any exercise, vesting, payment, or benefit under the Plan shall be reduced or eliminated: 

	to the extent that such right to exercise, vesting, payment, or benefit, taking into account all other rights, payments, or benefits to or for the Grantee under the Plan, all Other Agreements,
and all Benefit Arrangements, would cause any exercise, vesting, payment, or benefit to the Grantee under the Plan to be considered a Parachute Payment; and 
	if, as a result of receiving such Parachute Payment, the aggregate after-tax amounts received by the Grantee from the Company under the Plan, all Other Agreements, and all Benefit
Arrangements would be less than the maximum after-tax amount that could be received by the Grantee without causing any such payment or benefit to be considered a Parachute Payment.

Except as required by Code Section 409A or to the extent that Code Section 409A permits discretion, the Committee shall have the right, in the Committee's sole discretion, to designate
those rights, payments, or benefits under the Plan, all Other Agreements, and all Benefit Arrangements that should be reduced or eliminated so as to avoid having such rights, payments, or
benefits be considered a Parachute Payment; provided, however, to the extent any payment or benefit constitutes deferred compensation under Code Section 409A, in order to comply with
Code Section 409A, the Company shall instead accomplish such reduction by first reducing or eliminating any cash payments (with the payments to be made furthest in the future being
reduced first), then by reducing or eliminating any accelerated vesting of Performance-Based Awards, then by reducing or eliminating any accelerated vesting of Options or SARs, then by
reducing or eliminating any accelerated vesting of Restricted Stock, Restricted Stock Units, or Deferred Stock Units, then by reducing or eliminating any other remaining Parachute
Payments.

                                                                          23

18.   GENERAL PROVISIONS 

18.1   Disclaimer of Rights. 

No provision in the Plan, any Award, or any Award Agreement shall be construed (a) to confer upon any individual the right to remain in the Service of the Company or an Affiliate, (b)
to interfere in any way with any contractual or other right or authority of the Company or an Affiliate either to increase or decrease the compensation or other payments to any Person at any
time, or (c) to terminate any Service or other relationship between any Person and the Company or an Affiliate. In addition, notwithstanding any provision of the Plan to the contrary, unless
otherwise stated in the applicable Award Agreement, in another agreement with the Grantee, or otherwise in writing, no Award granted under the Plan shall be affected by any change of
duties or position of the Grantee thereof, so long as such Grantee continues to provide Service. The obligation of the Company to pay any benefits pursuant to the Plan shall be interpreted as
a contractual obligation to pay only those amounts provided herein, in the manner and under the conditions prescribed herein. The Plan and Awards shall in no way be interpreted to require
the Company to transfer any amounts to a third-party trustee or otherwise hold any amounts in trust or escrow for payment to any Grantee or beneficiary under the terms of the Plan. 

18.2   Nonexclusivity of the Plan. 

Neither the adoption of the Plan nor the submission of the Plan to the shareholders of the Company for approval shall be construed as creating any limitations upon the right
and authority of the Board or the Committee to adopt such other incentive compensation arrangements (which arrangements may be applicable either generally to a class or classes of
individuals or specifically to a particular individual or particular individuals) as the Board or the Committee in their discretion determine desirable. 

18.3   Withholding Taxes. 

The Company or an Affiliate, as the case may be, shall have the right to deduct from payments of any kind otherwise due to a Grantee any federal, state, or local taxes of any kind
required by Applicable Laws to be withheld with respect to the vesting of or other lapse of restrictions applicable to an Award or upon the issuance of any shares of Stock upon the exercise of
an Option or pursuant to any other Award. At the time of such vesting, lapse, or exercise, the Grantee shall pay in cash to the Company or an Affiliate, as the case may be, any amount that
the Company or such Affiliate may reasonably determine to be necessary to satisfy such withholding obligation; provided that if there is a same-day sale of shares of Stock subject to an
Award, the Grantee shall pay such withholding obligation on the day on which such same-day sale is completed. Subject to the prior approval of the Company or an Affiliate, which may be
withheld by the Company or such Affiliate, as the case may be, in its sole discretion, the Grantee may elect to satisfy such withholding obligation, in whole or in part, (a) by causing the
Company or such Affiliate to withhold shares of Stock otherwise issuable to the Grantee or (b) by delivering to the Company or such Affiliate shares of Stock already owned by the
Grantee. The shares of Stock so withheld or delivered shall have an aggregate Fair Market Value equal to such withholding obligation. The Fair Market Value of the shares of Stock used to
satisfy such withholding obligation shall be determined by the Company or such Affiliate as of the date on which the amount of tax to be withheld is to be determined. A Grantee who has
made an election pursuant to this Section 18.3 may satisfy such Grantee's withholding obligation only with shares of Stock that are not subject to any repurchase, forfeiture,
unfulfilled vesting, or other similar requirements. The maximum number of shares of Stock that may be withheld from any Award to satisfy any federal, state, or local tax withholding
requirements upon the exercise, vesting, or lapse of restrictions applicable to any Award or payment of shares of Stock pursuant to such Award, as applicable, may not exceed such number
of shares of Stock having a Fair Market Value equal to the maximum statutory amount required by the Company or the applicable Affiliate to be withheld and paid to any such federal, state, or
local taxing authority with respect to such exercise, vesting, lapse of restrictions, or payment of shares of Stock. 

18.4   Captions. 

The use of captions in the Plan or any Award Agreement is for convenience of reference only and shall not affect the meaning of any provision of the Plan or such Award Agreement.

18.5   Construction.

Unless the context otherwise requires, all references in the Plan to "including" shall mean "including without limitation."

                                                                          24

18.6   Other Provisions. 

Each Award granted under the Plan may contain such other terms and conditions not inconsistent with the Plan as may be determined by the Committee, in its sole discretion. 

18.7   Number and Gender. 

With respect to words used in the Plan, the singular form shall include the plural form, and the masculine gender shall include the feminine gender, as the context requires. 

18.8   Severability. 

If any provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and
thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction. 

18.9   Governing Law. 

The validity and construction of the Plan and the instruments evidencing the Awards hereunder shall be governed by, and construed and interpreted in accordance with, the laws of
the State of Maryland, other than any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan and the instruments evidencing the Awards
granted hereunder to the substantive laws of any other jurisdiction.

18.10   Foreign Jurisdictions.

To the extent the Committee determines that the material terms set by the Committee imposed by the Plan preclude the achievement of the material purposes of the Plan in
jurisdictions outside the United States, the Committee shall have the authority and discretion to modify those terms and provide for such additional terms and conditions as the Committee
determines to be necessary, appropriate, or desirable to accommodate differences in local law, policy, or custom or to facilitate administration of the Plan. The Committee may adopt or
approve sub-plans, appendices, or supplements to, or amendments, restatements, or alternative versions of the Plan as in effect for any other purposes. The special terms and any
appendices, supplements, amendments, restatements, or alternative versions, however, shall not include any provisions that are inconsistent with the terms of the Plan as in effect, unless the
Plan could have been amended to eliminate such inconsistency without further approval by the Company's stockholders.

18.11   Section 409A of the Code. 

The Plan is intended to comply with Code Section 409A to the extent subject thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and
administered to be in compliance with Code Section 409A. Any payments described in the Plan that are due within the Short-Term Deferral Period shall not be treated as deferred
compensation unless Applicable Laws require otherwise. Notwithstanding any provision of the Plan to the contrary, to the extent required to avoid accelerated taxation and tax penalties under
Code Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six (6)-month period immediately following the
Grantee's Separation from Service shall instead be paid on the first payroll date after the six (6)-month anniversary of the Grantee's Separation from Service (or the Grantee's death, if earlier).

Furthermore, notwithstanding anything in the Plan to the contrary, in the case of an Award that is characterized as deferred compensation under Code Section 409A, and pursuant
to which settlement and delivery of the cash or shares of Stock subject to the Award is triggered based on a Change in Control, in no event shall a Change in Control be deemed to have
occurred for purposes of such settlement and delivery of cash or shares of Stock if the transaction is not also a "change in the ownership or effective control of" the Company or "a change in
the ownership of a substantial portion of the assets of" the Company as determined under Treasury Regulation Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).
If an Award characterized as deferred compensation under Code Section 409A is not settled and delivered on account of the provision of the preceding sentence, the settlement and
delivery shall occur on the next succeeding settlement and delivery triggering event that is a permissible triggering event under Code Section 409A. No provision of this paragraph shall
in any way affect the determination of a Change in Control for purposes of vesting in an Award that is characterized as deferred compensation under Code Section 409A.
Notwithstanding the foregoing, neither the Company nor the Committee shall have any obligation to take any action to prevent the assessment of any excise tax or penalty on any Grantee
under Code Section 409A, and neither the Company or an Affiliate nor the Board or the Committee shall have any liability to any Grantee for such tax or penalty.

                                                                          25

18.12   Limitation on Liability. 

No member of the Board or the Committee shall be liable for any action or determination made in good faith with respect to the Plan, any Award, or any Award Agreement.
Notwithstanding any provision of the Plan to the contrary, neither the Company, an Affiliate, the Board, the Committee, nor any person acting on behalf of the Company, an Affiliate, the
Board, or the Committee shall be liable to any Grantee or to the estate or beneficiary of any Grantee or to any other holder of an Award under the Plan by reason of any acceleration of
income, or any additional tax (including any interest and penalties), asserted by reason of the failure of an Award to satisfy the requirements of Code Section 422 or Code Section 409A or by
reason of Code Section 4999, or otherwise asserted with respect to the Award; provided, that this Section 18.12 shall not affect any of the rights or obligations set forth in an
applicable agreement between the Grantee and the Company or an Affiliate.

   

   

   

   

                                                                          26

To record adoption of the Plan by the Board as of September 19, 2017 and approval of the Plan by the Company's shareholders as of November 15, 2017, the Company has caused its
authorized officer to execute the Plan. 

PERNIX THERAPEUTICS HOLDINGS, INC.

By:__________________________________________

      Name:

      Title:

   

   

                                                                          27

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