Document:

TISSUEINFORMATICS.INC 2001 STOCK OPTION PLAN

 Exhibit 10.1 
  
 TISSUEINFORMATICS.INC 2001 STOCK OPTION PLAN 
  
 The purposes of the TissueInformatics.Inc 2001 Stock Option Plan (the “Plan”) are to encourage former employees of
TissueInformatics.Inc and eligible employees, directors and consultants of Paradigm Genetics, Inc. (the “Company”) to increase their efforts to make the Company more successful, to provide an additional inducement for such persons to
remain with the Company, to reward such persons by providing an opportunity to acquire shares of the Common Stock, par value $0.01 per share, of the Company (the “Stock”) on favorable terms and to provide a means through which the Company
may attract able persons to enter the service of the Company. 
  
 Section 1 
 Administration 
  
 The Plan shall be administered by a Committee (the “Committee”) appointed by the Board of Directors of the Company (the “Board”) and
consisting of not less than two members of the Board. The Committee shall interpret the Plan and prescribe such rules, regulations and procedures in connection with the operations of the Plan as it shall deem to be necessary and advisable for the
administration of the Plan consistent with the purposes of the Plan. 
  
 The Committee shall keep records of action taken at its meetings. A majority of the Committee shall constitute a quorum at any meeting, and the acts of a majority of the members present at any meeting at which a quorum is present, or acts
approved in writing by all the members of the Committee, shall be the acts of the Committee. 
  
 Section 2 
 Eligibility 
  
 Any full- or part-time employee of the Company, any member of the Board or an Advisory Board of the Company, and any
consultant or advisor to the Company who either (i) was a full- or part-time employee, Board member, Advisory Board member, consultant or advisor to TissueInformatics.Inc on the closing date of the merger of TissueInformatics.Inc with and into the
Company on March 11, 2004 or (ii) who became a full- or part-time employee, Board member, Advisory Board member, consultant or advisor to the Company on or after March 11, 2004 shall be eligible for selection by the Committee to be granted a
nonstatutory stock option under the Plan. Only nonstatutory stock options may be granted under the Plan. 
  
 No member of the Committee shall be eligible to be granted an option during the period of his service on the Committee, nor shall any member of the
Committee participate in any decision of the Committee regarding an option previously granted to such Committee member. 
  
 Section 3 
 Shares Available under the
Plan 
  
 The aggregate number of shares of the Stock which may
be issued or delivered and as to which stock options may be granted under the Plan is 452,548 shares provided however, that in accordance with Section 7 of the Plan and the merger agreement between TissueInformatics.Inc and the Company, such number
will be increased up to a maximum of 813,275 shares as 

 milestone shares are issued to common stockholders of the Company, and is subject to additional adjustment and
substitution as set forth in Section 7. If any stock option is cancelled by mutual consent or terminates or expires for any reason without having been exercised in full, the shares of Stock subject thereto shall again be available for the grant of
options under the Plan. If any shares of Stock acquired on exercise of an option granted under the Plan are repurchased by the Company, such shares shall again be available for the grant of options under the Plan. The shares which may be issued
under the Plan may be either authorized but unissued shares or shares previously issued and thereafter acquired by the Company, or partly each, as shall be determined from time to time by the Board. 
  
 Section 4 
 Grant of Stock Options 
  
 Subject to the provisions of the Plan, the Committee shall have full and final authority, in its discretion, (1) to determine the eligibility of any individual to be granted an option under the Plan, (2) to select
from among the eligible individuals the persons who are to be granted options and (3) to determine the number of shares of Stock to be subject to any option granted to any eligible person selected by the Committee and, subject to the provisions of
the Plan, the other terms and conditions of the option. Any individual who is granted an option under the Plan is hereinafter referred to as a “Participant.” In determining the number of shares of Stock to be subject to an option granted
to any Participant and the other terms and conditions of such option, the Committee shall consider the position and responsibilities of the individual being considered, the nature and value to the Company of his or her services, his or her present
and/or potential contribution to the success of the Company, and such other factors as the Committee may deem relevant. 
  
 Section 5 
 Terms and Conditions of
Stock Options 
  
 Stock options granted under the Plan shall
be subject to the following terms and conditions: 
  
 (a) Option Price. The purchase price at which each stock option may be exercised (the “option price”) shall be such price as the Committee, in its discretion, shall determine, subject to the one limitation that it at
least equals the par value per share of the Stock. 
  
 (b) Exercisability and Expiration. A stock option shall become exercisable and shall expire at such time or times and/or upon the occurrence of such event or events as may be determined by the Committee at the time of grant of
the stock option or at any time thereafter during the term of the stock option. Unless otherwise determined by the Committee and reflected in the Stock Option Agreement or an amendment thereto, a stock option shall be exercisable from its date of
grant. A stock option to the extent exercisable at any time may be exercised in whole or in part. 
  
 (c) Manner of Exercise. Payment of the purchase price for the Stock as to which any stock option is being exercised shall be
made (i) in United States dollars in 
  

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 cash or by check, (ii) at the discretion of the Committee, through delivery of shares of Stock having a
Fair Market Value (as defined in Section 6 below) equal as of the date of the exercise to the cash option price of the stock option and held for at least six months, (iii) at the discretion of the Committee, by delivery of the grantee’s
personal note, for full, partial or no recourse, bearing interest payable not less than annually at market rate on the date of exercise and at no less than 100% of the applicable Federal rate, as defined in Section 1274(d) of the Internal Revenue
Code of 1986, as amended (the “Code”), with or without the pledge of such Stock as collateral, (iv) at the discretion of the Committee, in accordance with a cashless exercise program established with a securities brokerage firm, and
approved by the Committee, or (v) at the discretion of the Committee, by any combination of (i), (ii), (iii) and (iv) above. The date of exercise of a stock option shall be determined under procedures established by the Committee, and as of the date
of exercise the person exercising the stock option shall be considered for all purposes to be the owner of the shares with respect to which the stock option has been exercised, subject only to the restrictions and other terms and conditions
specified in the Plan or in the Stock Option Agreement. 
  
 (d) Nontransferability of Options. Except to the extent otherwise determined by the Committee and reflected in the Stock Option Agreement or an amendment thereto, no stock option shall be transferable by
the Participant otherwise than by Will, or if the Participant dies intestate, by the laws of descent and distribution of the state of domicile of the Participant at the time of death. Except to the extent otherwise determined by the Committee and
reflected in the Stock Option Agreement or an amendment thereto, all stock options shall be exercisable during the lifetime of the Participant only by the Participant. 
  
 (e) Termination of Service. Unless the Committee, in its discretion, shall otherwise determine
and the Stock Option Agreement shall so provide, the exercisability of any option granted under the Plan shall be subject to a requirement that the Participant shall have remained continuously in the service of the Company as an employee, director,
member of an Advisory Board, consultant, advisor and/or in such other capacity or capacities as the Committee may specify (hereinafter referred to as the Participant’s “Service”) from the date of grant of the option through the date
of exercise, except as follows: 
  
 (i) If the
Service of a Participant who is not disabled within the meaning of Section 422(c)(6) of the Code (a “Disabled Participant”) is voluntarily terminated with the consent of the Company or a Participant retires under any retirement plan of the
Company, any then outstanding stock option of such Participant shall be exercisable (but only to the extent exercisable immediately prior to the termination of Service) at any time prior to the expiration date of the stock option or within one year
after the date of termination of Service, whichever is the shorter period; 
  
 (ii) If the Service of a Disabled Participant is voluntarily terminated with the consent of the Company, any then outstanding stock option of such Participant shall be exercisable in full (whether or not so
exercisable immediately 
  

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 prior to the Participant’s termination of Service) at any time prior to the expiration date of such
stock option or within one year after the date of termination of Service, whichever is the shorter period; 
  
 (iii) Following the death of a Participant during Service to the Company, any stock option of the Participant outstanding at the time of
death shall be exercisable in full (whether or not so exercisable immediately prior to the death of the Participant) by the person entitled to do so under the Will of the Participant, or, if the Participant shall fail to make testamentary
disposition of the stock option or shall die intestate, by the legal representative of the Participant (or, if permitted under the Stock Option Agreement, by the Participant’s inter vivos transferee) at any time prior to the expiration
date of such stock option or within one year after the date of death, whichever is the shorter period; 
  
 (iv) Following the death of a Participant after termination of Service during a period when a stock option is exercisable, any stock
option of the Participant outstanding at the time of death shall be exercisable (but only to the extent the stock option was exercisable immediately prior to the death of the Participant) by such person entitled to do so under the Will of the
Participant or by such legal representative (or by such inter vivos transferee) at any time prior to the expiration date of such stock option or within one year after the date of death, whichever is the shorter period; and 
  
 (v) If the Service of a Participant terminates for any
reason other than voluntary termination with the consent of the Company, retirement under any retirement plan of the Company or death, all stock options of the Participant outstanding at the time of such termination of Service (whether or not then
held by the Participant) shall automatically terminate. 
  
 Whether a termination of Service is a voluntary termination with the consent of the Company and whether a Participant is a Disabled Participant shall be determined in each case, in its discretion, by the Committee,
and any such determination by the Committee shall be final, binding and conclusive. 
  
 (f) Non-Competition. If a Participant engages in the operation or management of a business (whether as owner, partner,
officer, director, employee or otherwise and whether during or after termination of Service) which is in competition with the Company, the Committee may immediately terminate all outstanding stock options held by the Participant. Whether a
Participant has engaged in the operation or management of a business which is in competition with the Company shall be determined, in its discretion, by the Committee, and any such determination by the Committee shall be final and binding.

  
 (g) Stock Option Agreements.
All stock options shall be confirmed by an agreement (a “Stock Option Agreement”), or an amendment thereto, executed by the Company and the Participant. 
  

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 (h) Securities Law Restrictions. No shares of Stock shall be issued upon
the exercise of a stock option under the Plan, and no certificates for such shares shall be delivered to any Participant, unless the Company shall be satisfied (and if requested by the Company, unless it has received an opinion of counsel selected
by the Company to such effect) that the issuance or delivery of the shares will not cause the Company to violate the Securities Act, any applicable state or foreign securities law or any applicable rules or regulations under the Securities Act or
under any such state or foreign securities law. Pursuant to this Plan, the Company is under no obligation to register any shares of Stock issuable under the Plan, or take any other action, under the Securities Act or under any state or foreign
securities law in connection with the offer or sale of such shares under the Plan or to prepare any disclosure document for distribution to Participants under the Securities Act or any state or foreign securities law in connection with such offer or
sale. As a condition precedent to the issuance or delivery of shares upon the exercise of a stock option, the person exercising the option may be required to represent, warrant and agree (i) that the shares are being acquired for the account of such
person for investment and not with a view to the resale or other distribution thereof and (ii) that such person will not, directly or indirectly, transfer, sell, assign, pledge, hypothecate or otherwise dispose of any such shares unless the
transfer, sale, assignment, pledge, hypothecation or other disposition of the shares is pursuant to effective registrations under the Securities Act and any applicable state or foreign securities laws or pursuant to appropriate exemptions from any
such registrations. The certificate or certificates representing the shares to be issued or delivered upon exercise of a stock option may bear a legend to this effect and other legends required by any applicable securities laws, and if the Company
should at some time engage the services of a stock transfer agent, appropriate stop-transfer instructions may be issued to the stock transfer agent with respect to such shares. In addition, also as a condition precedent to the issuance or delivery
of shares upon the exercise of a stock option, the person exercising the option may be required to make certain other representations and warranties and to provide certain other information to enable counsel for the Company to render an opinion
under the first sentence of this Section 5(h). 
  
 Subject to the foregoing provisions of this Section 5 and the other provisions of the Plan, any stock option granted under the Plan may be exercised at such times and in such amounts and be subject to such other restrictions and such other
terms and conditions, if any, as shall be determined, in its discretion, by the Committee and set forth in the Stock Option Agreement or an amendment thereto. 
  

Section 6 
 Valuation of the Stock

  
 (a) As used in the Plan, the following
terms shall have the following definitions: 
  
 (i) “Current Value” as of any date shall mean the Fair Market Value of a share of Stock as of the most recent Valuation Date for which a determination of Fair Market Value pursuant to this Section 6 has been made by the Committee
on or before such date, as adjusted for any stock splits, stock dividends, recapitalizations, reclassifications or other changes in the Stock occurring since such Valuation Date. 
  

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 (ii) “Valuation Date” shall mean the date of grant of any stock option under
the Plan or such other date or dates, if any, as the Committee may, in its discretion, determine. 
  
 (iii) “Fair Market Value” of a share of Stock means: (A) if the Stock is listed on a national securities exchange or traded in
the over-the-counter market and sales prices are regularly reported for the Stock, the closing or last price of the Stock on the Composite Tape or other comparable reporting system for the trading day immediately preceding the applicable date; (B)
if the Common Stock is not traded on a national securities exchange but is traded on the over-the-counter market, if sales prices are not regularly reported for the Stock for the trading day referred to in clause (A), and if bid and asked prices for
the Stock are regularly reported, the mean between the bid and the asked price for the Stock at the close of trading in the over-the-counter market for the trading day on which Stock was traded immediately preceding the applicable date; and (C) if
the Stock is neither listed on a national securities exchange nor traded in the over-the-counter market, such value as the Committee, in good faith, shall determine. 
  
 (b) In the absence of manifest error, any determination of Fair Market Value made pursuant to this Section 6
shall, for all purposes of the Plan, be final, binding and conclusive on the Company, on each Participant, and on any heirs, legatees, personal representatives or any other person claiming through any Participant. 
  
 Section 7 
 Adjustment and Substitution of Shares 
  
 If a dividend or other distribution shall be declared upon the Stock, payable in shares of the Stock, the number of shares of Stock then subject to any
outstanding stock options under the Plan and the number of shares of stock which may be issued under the Plan but are not then subject to outstanding stock options shall be adjusted by adding thereto the number of shares of Stock which would have
been distributable thereon if such shares had been outstanding on the date fixed for determining the shareholders entitled to receive such stock dividend or distribution. 
  
 If the outstanding shares of the Stock shall be converted into or exchangeable for a different number or kind of shares of
stock or other securities of the Company or another corporation or entity, or cash or other property, whether through reorganization, reclassification, recapitalization, stock split, combination of shares, merger or consolidation, then there shall
be substituted for each share of Stock then subject to any outstanding stock option, and for each share of stock which may be issued under the Plan but which is not then subject to any outstanding stock option, the number and kind of shares of stock
or other securities (and in the case of outstanding options, the cash or other property) into which each outstanding share of the Stock shall be so converted or for which each such share shall be exchangeable. 
  

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 In case of any adjustment or substitution as provided for in this Section 7, the aggregate option price
for all shares subject to each then outstanding stock option prior to such adjustment or substitution shall be the aggregate option price for all shares of stock or other securities (including any fraction), cash or other property to which such
shares shall have been adjusted or which shall have been substituted for such shares. Any new option price per share or other unit shall be carried to at least three decimal places with the last decimal place rounded upwards to the nearest whole
number. No adjustment or substitution provided for in this Section 7 shall require the Company to issue or sell a fraction of a share or other security. Accordingly, all fractional shares or other securities which result from any such adjustment or
substitution shall be eliminated and not carried forward to any subsequent adjustment or substitution. 
  
 Section 8 
 Withholding Taxes 
  
 A Participant shall be advised by the Company as to the amount of any Federal
income or employment taxes required to be withheld by the Company on the compensation income resulting from the exercise of a stock option. State, local or foreign income or employment taxes may also be required to be withheld by the Company as a
result of the grant or exercise of a stock option. A Participant shall pay any taxes required to be withheld directly to the Company in cash upon request. No shares of Stock shall be issued or delivered to a Participant upon exercise of any option
unless and until the Participant shall have satisfied any obligation for withholding taxes with respect thereto as provided in the preceding sentence. If a Participant does not pay any income or employment taxes required to be withheld by the
Company within 10 days after a request for the payment of such taxes, the Company may withhold such taxes from any other compensation to which the Participant is entitled from the Company or any of its subsidiaries. 
  
 Section 9 
 Effect of the Plan on the Rights of Participants and the Company 
  
 Neither the adoption of the Plan nor any action of the Board or the Committee pursuant to the Plan shall be deemed to give any individual any right to be
granted a stock option under the Plan. Nothing in the Plan, in any stock option granted under the Plan or in any agreement providing for any of the foregoing shall confer upon any Participant any right to continue in the Service of the Company or
interfere in any way with the rights of the Company to terminate the Service of any Participant at any time. 
  
 Section 10 
 Arbitration 
  
 In the event any dispute shall arise between the Company and a Participant
with respect to any of the terms and conditions of the Plan or any Stock Option Agreement, then such dispute shall be submitted and finally settled by arbitration in Pittsburgh, Pennsylvania under the rules of the American Arbitration Association.
The award rendered by the arbitrator shall be final and binding upon the Company, the Participant and all persons claiming through either or them, and judgment on the award may be entered by either party in any court that would ordinarily have
jurisdiction over the parties or the subject matter of the controversy or claim. Each party shall 
  

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 pay its own expenses incident to such arbitration, including attorneys’ fees. By the grant and acceptance of any
option, the Company and the Participant shall be deemed to have agreed, on behalf of themselves and their successors and assigns, not to institute any litigation or proceedings against each other in connection with the Plan or any Stock Option
Agreement hereunder except as provided in this Section 10. 
  
 Section 11 
 Amendment 
  
 The right to amend the Plan at any time and from time to time and the right to terminate the Plan are hereby specifically reserved to the Board; provided
always that no termination of the Plan shall terminate any outstanding stock option granted under the Plan. No amendment or termination of the Plan shall, without the written consent of the holder of a stock option previously granted under the Plan,
adversely affect the rights of such holder with respect thereto. 
  
 Section 12 
 Termination of the Plan 
  
 The Plan shall terminate on May 1, 2013. 
  

 - 8 -FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT

 Exhibit 10.2 
  
 FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT 
  
 This First Amendment to Loan and Security Agreement is entered into as of April 26, 2004, by and between PARADIGM
GENETICS, INC. (“Borrower”) whose address is 108 T.W. Alexander Drive, Research Triangle Park, North Carolina 27709-4528 and Silicon Valley Bank (“Lender”) whose address is 3003 Tasman Drive, Santa Clara, California 95054.

  
 1. DESCRIPTION OF EXISTING INDEBTEDNESS: Among other indebtedness which
may be owing by Borrower to Lender, Borrower is indebted to Lender pursuant to, among other documents, a Loan and Security Agreement, dated July 10, 2003 (as may be amended from time to time, the “Loan Agreement”). The Loan
Agreement provides for, among other things, a Committed Revolving Line in the original principal amount of Two Million Five Hundred Thousand Dollars ($2,500,000.00) (the “Revolving Facility”) and a Term Loan in the original principal
amount of Five Million Dollars ($5,000,000.00). Hereinafter, all indebtedness owing by Borrower to Lender shall be referred to as the “Indebtedness.” Capitalized terms not otherwise defined in this First Amendment to Loan and Security
Agreement shall have the meanings given to them in the Loan Agreement. 
  
 2.
DESCRIPTION OF COLLATERAL AND GUARANTIES. Repayment of the Indebtedness is secured by the Collateral as described in the Loan Agreement. Hereinafter, the above-described Loan Agreement, together with all other documents securing repayment of
the Indebtedness shall be referred to as the “Security Documents”. Hereinafter, the Security Documents, together with all other documents evidencing or securing the Indebtedness shall be referred to as the “Existing Loan
Documents”. 
  
 3. DESCRIPTION OF CHANGE IN TERMS. 
  

	 	A.	Section 6.6 of the Loan Agreement is hereby amended and restated in its entirety as follows: 

  
 6.6 Primary Accounts. Borrower will maintain its primary depository and operating accounts with Bank or Bank’s
Affiliate, which shall include not less than ninety five percent (95%) of Borrower’s cash, cash equivalents and other investments satisfactory to Bank, other than cash currently securing letters of credit issued by any institution which are for
the purpose of securing one or more leases of Borrower. Borrower shall be permitted to maintain Account Number 1891667741 at Comerica Bank (the “Comerica Account”) for the sole purpose of receiving accounts receivable from the Advance
Technology Program and the National Institute of Environmental Health Services; provided, however, that Borrower shall send all funds received in the Comerica Account to Bank by wire transfer no later than the next Business Day after Borrower’s
receipt of such funds. 
  

	 	B.	Section 6.7 of the Loan Agreement is hereby amended and restated in its entirety as follows: 

  
 6.7 Financial Covenants. 
  
 Liquidity Coverage. Borrower will maintain as of the last day of each month a ratio of Unrestricted Cash (as defined below) divided
by the aggregate Obligations (including Sublimit Outstandings) of not less than 1.75 to 1.00. As used in this Section 6.7, (a) “Sublimit Outstandings” shall mean at any time the sum of the amount of all outstanding Letters of Credit issued
under this Agreement (including drawn but unreimbursed Letters of Credit), and the amount 

 of Cash Management Services being used under this Agreement, and (b) “Unrestricted Cash” shall
mean the sum of (i) unrestricted cash (and equivalents) (as determined in accordance with GAAP) held at Bank or Bank’s Affiliate, plus (ii) all funds in the Comerica Account (as defined in Section 6.6), provided that such funds are sent by wire
transfer to Bank in accordance with Section 6.6, plus (iii) all confirmed incoming wire transfers that have not yet been posted to Borrower’s account. 
  

	 	C.	Exhibit D to the Loan Agreement is hereby replaced in its entirety with Exhibit D attached hereto. 

  
 4. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever
necessary to reflect the changes described above. 
  
 5. PAYMENT OF AMENDMENT
FEE. Borrower shall pay to Lender a fee in the amount of Five Thousand Dollars ($5,000) (the “Amendment Fee”) plus all out-of-pocket expenses. 
  
 6. NO DEFENSES OF BORROWER. Borrower agrees that it has no defenses against the obligations to pay any amounts under the Indebtedness. 
  
 7. CONTINUING VALIDITY. Borrower understands and agrees that in modifying the existing
Indebtedness, Lender is relying upon Borrower’s representations, warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified pursuant to this First Amendment to Loan and Security Agreement, the terms of
the Existing Loan Documents remain unchanged and in full force and effect. Lender’s agreement to modifications to the existing Indebtedness pursuant to this First Amendment to Loan and Security Agreement in no way shall obligate Lender to make
any future modifications to the Indebtedness. Nothing in this First Amendment to Loan and Security Agreement shall constitute a satisfaction of the Indebtedness. It is the intention of Lender and Borrower to retain as liable parties all makers and
endorsers of Existing Loan Documents, unless the party is expressly released by Lender in writing. No maker, endorser, or guarantor will be released by virtue of this First Amendment to Loan and Security Agreement. 
  
 8. CONDITIONS. The effectiveness of this First Amendment to Loan and
Security Agreement is conditioned upon Borrower’s payment of the Amendment Fee; 
  
 This First Amendment to Loan and Security Agreement is executed as of the date first written above. 
  

							
	BORROWER:	 	LENDER:
		
	PARADIGM GENETICS, INC.	 	SILICON VALLEY BANK
				
	By:	 	 /s/    Philip R. Alfano

	 	By:	 	 /s/    Andrew A. Rico

	Name:	 	 Philip R. Alfano

	 	Name:	 	 Andrew A. Rico

	Title:	 	 Vice President, Finance
 Chief Financial Officer and
Treasurer

	 	Title:	 	 Senior Vice President

  

 2 

 EXHIBIT D 
 COMPLIANCE CERTIFICATE 
  

			
	 TO:
	  	 SILICONVALLEY BANK

	 	  	 3003 Tasman Drive

	 	  	 Santa Clara, CA 95054

		
	 FROM:
	  	 Paradigm Genetics, Inc.

	

	

  

	

  
 The
undersigned authorized officer of Paradigm Genetics, Inc. (“Borrower”) certifies that under the terms and conditions of the Loan and Security Agreement between Borrower and Bank, as amended (the “Agreement”), (i) Borrower is in
complete compliance for the period ending                              with all required covenants
except as noted below and (ii) all representations and warranties in the Agreement are true and correct on this date. Attached are the required documents supporting the certification. The Officer certifies that these are prepared in accordance with
Generally Accepted Accounting Principles (GAAP) consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The Officer acknowledges that no borrowings may be requested at any time or date of
determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered. 
  
 Please indicate compliance status by circling Yes/No under “Complies” column. 
  

							
	 Reporting Covenant

	  	 Required

	  	 Complies

	 Monthly financial statements + CC
	  	Monthly within 30 days	  	Yes    No
	Annual (Audited)	  	FYE within 120 days	  	Yes    No
	SEC Filings	  	Within 10 days	  	Yes    No
	A/R Agings	  	Monthly within 30 days during Formula Period	  	Yes    No
	 During Formula Period Borrowing Base Certificate
	  	Monthly within 30 days the Formula
Period in which there are outstanding Advances	  	Yes    No
				
	 Financial Covenant

	  	 Required

	  	 Actual

	  	 Complies

	Maintain on a Monthly Basis:	  	 	  	 	  	 
	 Minimum Liquidity as calculated pursuant to Section 6.7 of the Agreement
	  	1.75:1.00	  	            :1.00	  	Yes    No

  

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