Document:

Exhibit 10(iii)(A)(1)

 Exhibit 10(iii)(A)(1) 

IMPERIAL OIL LIMITED 
 SHORT TERM INCENTIVE
PROGRAM 
 (as amended October 26, 2016) 
  

	I.	Purposes 

 The Short Term Incentive Program is intended to help reward, retain, and motivate selected employees of
the Company and its affiliates by recognizing efforts and accomplishments which contribute materially to the success of the Company’s business interests and to promote continued loyalty to the Company and avoidance of conflict of interest
during the period following termination of Continued Employment. 
  

	II.	Definitions 

 In this Program, except where the context otherwise indicates, the following definitions apply: 

 

	 	(1)	“Administrative authority” means the Board, a committee designated by the Board, the Chairman of the Board, or the Chairman’s delegates authorized to administer outstanding awards under this Program,
establish requirements and procedures for the operation of the Program, and to exercise other powers assigned to the administrative authority under this Program. 

 

	 	(2)	“Affiliate” means a legal entity which controls, or which is controlled by, or which is controlled by an entity which controls, the Company. 

 

	 	(3)	“Award” means a bonus, bonus unit, or other award under this Program. 

	 	(4)	“Board” means the Board of Directors of the Company. 

  

	 	(5)	“Bonus” means a cash award specific in amount. 

  

	 	(6)	“Bonus unit” means a potential cash award whose amount is based upon specified measurement criteria. The term bonus unit includes, but is not limited to, earnings bonus units. 

 

	 	(7)	“Company” means Imperial Oil Limited, its wholly owned subsidiaries, and partnerships, or its successors. 

  

	 	(8)	“Continued Employment” means continued employment after the date of grant with the Company or an affiliate. 

  

	 	(9)	“Control” means the power to direct or cause the direction of the management and policies of another person or entity whether through the ownership of shares or partnership interest, a contract, trust
arrangement or any other means, either directly or indirectly, that results in control in fact and without restricting the generality of the foregoing includes, with respect to the control of or by a corporation or a partnership, the ownership of
shares or partnership interest carrying not less than 50% of the voting rights regardless of whether such ownership occurs directly or indirectly, as contemplated above. “Controls” and “Controlled by” and other derivatives shall
be construed accordingly. 

  

	 	(10)	“Designated beneficiary” means a person designated by the grantee of an award pursuant to Section XIII to be entitled, on the death of the grantee, to any remaining rights arising out of such award.

  

	 	(11)	 “Detrimental activity” of a grantee means with respect to the grantee’s retention of outstanding awards
under this Program, activity at any time that is determined in individual cases by the administrative authority to be (a) a 

  
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material violation of applicable standards, policies, or procedures of the Company or an affiliate; or (b) a material breach of legal or other duties owed by the grantee to the Company or an
affiliate; or (c) a material breach of any contract between the grantee and the Company or an affiliate; or (d) acceptance by grantee of duties to a third party under circumstances that create a material conflict of interest, or the
appearance of a material conflict of interest, with respect to the grantee’s retention of outstanding awards under this Program. Detrimental activity includes, without limitation, activity that would be a basis for termination of employment for
cause under applicable law in Canada. With respect to material conflict of interest or the appearance of material conflict of interest, such conflict or appearance might occur when, for example and without limitation, a grantee holding an
outstanding award becomes employed or otherwise engaged by an entity that regulates, deals with, or competes with the Company or an affiliate. With respect to employees of the Company or an affiliate, detrimental activity may occur at any time prior
to, or subsequent to, termination of Continued Employment of the employee. 

  

	 	(12)	“Employee” means an employee of the Company or an affiliate, including a part-time employee or an employee on military, family, or other approved temporary leave. 

 

	 	(13)	“Executive Officer” for any calendar year means the individuals designated as executive officers, including named executive officers, by the Company in its Annual Report on Form 10-K for such calendar year, or
in the event that the Company does not file an Annual Report on Form 10-K for such calendar year, such individuals as are otherwise designated as executive officers by the company. 

 

	 	(14)	“Executive Resources Committee” means the committee of the Board so designated. 

  
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	 	(15)	“Exchange Act” means the U.S. Securities Exchange Act of 1934, as in effect from time to time. 

  

	 	(16)	“Grantee” means a recipient of an award under this Program. 

  

	 	(17)	“Granting authority” means the Board or any appropriate committee authorized to grant and amend awards under this Program and to exercise other powers assigned to the granting authority. 

 

	 	(18)	“Imperial earnings bonus unit” or “IEBU” means an award of the potential right to receive from the Company at the settlement date specified in the award instrument, or at any later payment dates so
specified, an amount of cash, up to the specified maximum settlement value per IEBU, equal to the Company’s cumulative Net Income Per Common Share (Basic), as reflected in its quarterly earnings statements as initially filed in its quarterly or
annual reports with the U.S. Securities and Exchange Commission, commencing with earnings for the first full quarter after the date of grant through the twelfth full quarter following the date of grant. 

 

	 	(19)	“Net Income Per Common Share (Basic)” means the published net earnings per common share or earnings per share, as applicable. 

 

	 	(20)	“Normal retirement time” means for each employee, the first day of the month immediately following the normal retirement date, as determined in the Imperial Oil Limited Retirement Plan (or the provision in any
plan or plans of the Company substituted therefore). 

  

	 	(21)	“Program” means this Short Term Incentive Program, as amended from time to time. 

  

	 	(22)	 “Terminate” means cease to be an employee for any reason, whether at the initiative of the employee, the
employer, or otherwise. That reason could 

  
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include, without limitation, resignation or retirement by the employee; discharge of the employee by the employer, with or without cause; death; transfer of employment to an entity that is a not
an affiliate; or a sale, divestiture, or other transaction as a result of which an employer ceases to be an affiliate. A change of employment from the Company or one affiliate to another affiliate, or to the Company, is not a termination. The time
or date of termination is not necessarily the employee’s last day on the payroll. 

  

	 	(23)	“TSX Company Manual” means the Company Manual issued by the TSX to govern companies listed on the TSX. 

  

	 	(24)	“Year” means calendar year. 

  

	III.	Administration 

 The Board is the ultimate administrative authority for this Program, with the power to interpret
and administer its provisions. The Board may delegate its authority to a committee which, except in the case of the Executive Resources Committee, need not be a committee of the Board. Subject to the authority of the Board or an authorized
committee, the Chairman and his delegates will serve as the administrative authority for purposes of establishing requirements and procedures for the operation of this Program; making final determinations and interpretations with respect to
outstanding awards; and exercising other powers assigned to the administrative authority under this Program. 
  

	IV.	No Equity-Security Awards 

 It is intended that this Program not be subject to the provisions of the Exchange Act
and that awards granted hereunder not be considered equity securities of the Company within the meaning of the Exchange Act and that the awards not be considered security based compensation arrangements for the purposes of the TSX Company Manual.
Accordingly, no award under this Program will be payable in any equity security or result in the issuance of securities of the Company. In the event an award under this Program should 

  
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be deemed to be an equity security of the Company within the meaning of the Exchange Act or security based compensation arrangements for the purposes of the TSX Company Manual, such award may, to
the extent permitted by law and deemed advisable by the granting authority, be amended so as not to constitute such an equity security or security based compensation arrangement, or may be annulled. Each award under this Program will be deemed
issued subject to the foregoing qualification. 
  

	V.	Annual Ceiling 

 In respect to each year under this Program, the Executive Resources Committee will, pursuant to
authority delegated by the Board, establish a ceiling on the aggregate dollar amount that can be awarded under this Program. With respect to bonuses and bonus units granted in a particular year under this Program, the sum of (1) the aggregate
amount of bonuses, and (2) the aggregate maximum settlement value of bonus units will not exceed such ceiling. The Executive Resources Committee may revise the ceiling from time to time as it deems appropriate. 

 

	VI.	Right to Grant Awards; Reserved Powers; Eligibility 

  

	 	(1)	The Board is the ultimate granting authority for this Program, with the power to select eligible persons for participation and to make all decisions concerning the grant or amendment of awards. The Board may delegate
this authority in whole or in part (a) to the Executive Resources Committee; or (b) to a committee of two or more persons who may, but need not, be directors of the Company. 

 

	 	(2)	The granting authority has sole discretion to select persons for awards under this Program, except that grants may be made only to persons who at the time of grant are, or within the immediately preceding 12 months have
been, employees of the Company or of an affiliate. No person is entitled to an award as a matter of right, and the grant of an award under this Program does not entitle a grantee to any future or additional awards. 

  
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	 	(3)	No award may be granted to a member of the Executive Resources Committee. 

  

	VII.	Term 

 This Program will continue until terminated by the Board. 

 

	VIII.	Form of Bonus 

 A bonus may be granted either wholly in cash, wholly in bonus units, or partly in each. 

 

	IX.	Settlement of Bonuses 

 Each grant will specify the time and method of settlement as determined by the granting
authority. Each grant, any portion of which is in bonus units, will specify as the regular time of settlement for that portion a settlement date, which may be accelerated to an earlier time specified in the award instrument. 

 

	X.	Extended Disability Benefits 

 In case the grantee becomes entitled on or before receipt of payment with respect
to a bonus or bonus unit, to payment of extended disability benefits under the Company’s extended disability benefit plan, the grantee shall continue to have to have the right to receive cash payment of bonus or bonus units, or in case of death
after entitlement as aforesaid, by the grantee’s legal representatives. 
  

	XI.	Termination; Detrimental Activity 

  

	 	(1)	 If a grantee terminates before normal retirement time, other than by reason of death, all outstanding awards of the grantee
under this Program (including bonuses, bonus units, IEBUs, and other awards not yet paid or settled) will automatically expire and be forfeited as of the date of 

  
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termination except to the extent the administrative authority determines otherwise. Notwithstanding the foregoing, the Company’s practice is not to forfeit any awards upon termination in the
event that the grantee’s Continued Employment terminates on or after the date grantee reaches normal retirement time in circumstances where grantee becomes entitled to an annuity under the Imperial Oil Limited Retirement Plan (or the provision
in any plan or plans of the Company substituted therefore.) 

  

	 	(2)	For purposes of this Program, the administrative authority may determine that the time or date an employee resigns or otherwise terminates is the time or date the employee gives notice of resignation, accepts employment
with another employer, otherwise indicates an intent to resign, or is discharged. The time or date of termination for this purpose is not necessarily the employee’s last day on the payroll. 

 

	 	(3)	If the administrative authority determines that a grantee has engaged in detrimental activity, whether or not the grantee is still an employee, then the administrative authority may, effective as of the time of such
determination, cancel and cause to expire all or part of the grantee’s outstanding awards under this Program (including bonuses, bonus units, IEBUs, and other awards not yet paid or settled). 

 

	 	(4)	If the administrative authority is advised or has reason to believe that a grantee (a) may have engaged in detrimental activity; or (b) may have accepted employment with another employer or otherwise indicated
an intent to resign, the authority may suspend the exercise, delivery, or settlement of all or any specified portion of such grantee’s outstanding awards pending an investigation of the matter. 

 

	 	(5)	 If the administrative authority determines the conditions lined out in section XI are applicable to the grantee, at its
discretion the authority may require the grantee to pay the Company the equivalent cash payment for each 

  
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bonus or each bonus unit paid on any settlement date up to 180 days prior to termination of the grantee’s Continued Employment. 

 

	XII.	Material Negative Restatement 

  

	 	(1)	If the Company’s reported financial or operating results become subject to a material negative restatement, the Executive Resources Committee may determine that all or a portion of the bonus or bonus units granted
to a grantee during the three year period prior to such material restatement, where such grantee was an Executive Officer during all or any portion of such three year period, would not have been granted if the Company’s results as originally
published had been equal to the Company’s results as subsequently restated (the “restatement forfeiture bonus or bonus units”). In such event, at the company’s discretion, the restatement bonus or bonus units are forfeited and
the company shall make no payment with respect to such restatement forfeiture bonus or bonus units. 

  

	 	(2)	Notwithstanding any payment with respect to a cash bonus or bonus units to a grantee, if the Company’s financial results become subject to a material negative restatement, the Executive Resources Committee may
determine that all or a portion of such cash bonus or payment with respect to bonus units received by a grantee during the five year period prior to such material restatement, where such cash bonus or bonus units were granted during a calendar year
in which such grantee was an Executive Officer, or where such cash payment was received during a calendar year in which such grantee was an Executive Officer, would not have been granted or payable if the Company’s Results as originally
published had been equal to the Company’s results as subsequently restated (the “restatement claw back amount”). The Company, at its discretion, may require such grantee to pay to the Company a cash amount equal to the restatement
claw back amount. 

  
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	 	(3)	The obligations of grantees to make payments under this Section XII are independent of any involvement by those grantees in events that led to the restatement. The provisions of this Section XII are in addition to, not
in lieu of, any remedies that the Company may have against any persons whose misconduct caused or contributed to a need to restate the Company’s reported results. 

 

	XIII.	Death; Beneficiary Designation 

 Any rights and obligations of a grantee under this Program in effect at that
grantee’s death will apply to that grantee’s designated beneficiary or, if there is no designated beneficiary, to that grantee’s estate representative or lawful heirs, as demonstrated to the satisfaction of the administrative
authority. Beneficiary designations must be made in writing and in accordance with such requirements and procedures as the administrative authority may establish. Unless specified otherwise in the award instrument, if a grantee dies, the
administrative authority may accelerate or otherwise alter the settlement of deferred awards to that grantee. 
  

	XIV.	Amendments to this Program and Outstanding Awards 

  

	 	(1)	The Board may without the approval of the grantees from time to time (a) amend this Program with respect to awards previously issued without any fresh or further consideration and (b) amend the Plan with
respect to awards to be issued in future. An amendment of this Program will, unless the amendment provides otherwise, be immediately and automatically effective for all outstanding awards. 

 

	 	(2)	Without amending this Program, the granting authority may amend any one or more outstanding awards under this Program to incorporate in those awards any terms that could be incorporated in a new award under this
Program. An award as amended must satisfy any conditions or limitations applicable to the particular type of award under the terms of this Program. 

  
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	XV.	Withholding Taxes 

 The Company has the right, in its sole discretion, to deduct or withhold at any time cash
otherwise payable or deliverable in order to satisfy any required withholding requirements with respect to awards under this Program. 
  

	XVI.	Non-Resident of Canada Awards 

 Subject to the limitations contained in this Program, the granting authority may
establish different terms and conditions for awards to persons who are residents or nationals of countries other than Canada in order to accommodate the local laws, tax policies, or customs of such countries or the laws of Canada. The granting
authority may adopt one or more supplements or sub-plans under this Program to implement those different terms and conditions. 
  

	XVII.	General Provisions 

  

	 	(1)	An award under this Program is not transferable except by will or the laws of descent and distribution, and is not subject to attachment, execution, or levy of any kind. The designation by a grantee of a designated
beneficiary is not a transfer for this purpose. 

  

	 	(2)	A particular form of award may be granted to a grantee either alone or in addition to other awards hereunder. The provisions of particular forms of award need not be the same for each grantee. 

 

	 	(3)	An award may be granted for no consideration, for the minimum consideration required by applicable law, or for such other consideration as the granting authority may determine. 

  
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	 	(4)	An award may be evidenced in such manner as the administrative authority determines, including by physical instrument, by electronic communication, or by book entry. In the event of any dispute or discrepancy regarding
the terms of an award, the records of the administrative authority will be determinative. 

  

	 	(5)	The grant of an award under this Program does not constitute or imply a contract of employment and does not in any way limit or restrict the ability of the employer to terminate the grantee’s employment, with or
without cause, even if such termination results in the expiration, cancellation, or forfeiture of outstanding awards. 

  

	 	(6)	A grantee will have only a contractual right to the amounts, if any, payable in settlement of an award under this Program, unsecured by any assets of the Company or any other entity. 

 

	 	(7)	This Program is conclusively deemed to be an agreement made under the laws of the Province of Ontario and, for all purposes and in respect of any claim or dispute arising hereunder or in connection herewith, shall be
constituted and construed in accordance with the laws of the Province of Ontario, without regard to principles of conflict of law. 

  
 12Exhibit 10.1

 

TERM LOAN NOTE

 

August 11, 2016

 

1.             Promise to Pay. For value received, _________, a Nevada corporation having its headquarters at ______ (the
“Borrower”), promises to pay to Integrated Surgical Systems, Inc. (the “Holder”), with an
office at 2425 Cedar Springs Rd, Dallas, TX 75201 (the “Payment Office”), in lawful money of the United States
of America, the Loan Amount (herein defined), along with interest thereon at a rate per annum as set forth below and such other
unpaid obligations owing from time to time hereunder (together the principal, interest and other obligations are referred to as
the “Obligations”).

 

2.             (a)      Certain Defined Terms. The following terms as used in this promissory note (this “Note”)
shall have the respective meanings set forth opposite such terms below, such meanings to be applicable equally to both the singular
and plural forms of such terms:

 

“Applicable
Rate” means a rate per annum equal to 8%.

 

“Borrower’
Business” means, a curated social media website business.

 

“Business Day”
means any day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required
to close.

 

“Fundamental
Change” shall mean any of the following: (i) termination of the Borrower’s Business, or (ii) either _______. ceases
to actively be involved in the day to day activity of the Borrower’s Business.

 

“Loan Amount”
means the principal sum of One Hundred Fifty Thousand United States Dollars ($150,000.00) advanced upon execution of this Note,
and an additional Three Hundred Fifty Thousand United States Dollars ($350,000.00) that shall be advanced by Holder only after
____ provides the mortgages in favor of the Holder as indicated in Section 6, plus the reasonable expenses of the Holder
in creating this facility and obtaining the security interest of the mortgages, which will be added to the principle sum from time
to time, as reflected on Schedule 1, and notified to the Borrower by the Holder.

 

“Maturity Date”
means the earlier of (i) February 13, 2017 (or such earlier date on which this Note and the indebtedness evidenced hereby shall
become due and payable in accordance with its terms), and (ii) the occurrence of a Fundamental Change.

 

“Person”
means an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated
association, joint venture, governmental authority or other entity of whatever nature.

 

     

     

    

 

(b)      
Other Defined Terms. Other terms defined are in the other parts of this Note indicated below:

 

	“Borrower”	Section 1
	“Event of Default”	Section 8
	“Holder”	Section 1
	“Loan Amount”	Section 1
	“Mortgage Documents”	Section 6
	“Note”	Section 2(a)
	“Obligations” 	Section 1
	“Payment Office”	Section 1

 

3.             Maturity Date. This Note shall mature on the Maturity Date.

 

4.             Scheduled Payments of Principal, Interest and Default Interest.

 

(a)      
Borrower agrees to repay the outstanding principal amount evidenced by this Note on the Maturity Date.

 

(b)      
The unpaid principal amount of this Note shall accrue interest, as of the date hereof, at the Applicable Rate, shall be
payable on the Maturity Date, and shall be paid in cash.

 

(c)      
Interest shall be calculated on the basis of a 360-day year based on the actual number of days during the period for which
such interest is payable. If any payment on this Note becomes due and payable on a day that is not a Business Day, the due date
thereof shall be extended to the next succeeding Business Day. Payments of principal and interest on this Note shall be made to
Holder at the Payment Office. Upon repayment in full of the loans, interest and other Obligations evidenced by this Note, the Borrower
may require Holder to surrender this Note.

 

(d)       Each payment made hereunder will be applied, first, to the payment of any indemnified costs payable under Section 10(d)
of this Note, then to the payment of accrued and unpaid interest, and the balance, if any, to the unpaid principal balance of this
Note and any other Obligations evidenced hereby.

 

(e)      
To the extent permitted by law, upon the occurrence and during the continuance of an Event of Default, the principal amount
of this Note shall bear interest from the date such Event of Default occurred until cured or waived, at the rate per annum equal
to the Applicable Rate plus 5% per annum. Any interest accruing pursuant to this paragraph (e) shall be payable on demand.

 

5.             Prepayments. This Note may be prepaid in whole or in part, at any time or from time to time, without any penalty
or premium, provided, that such prepayment shall be accompanied by accrued and unpaid interest on that portion of the Note
being prepaid to the date of prepayment. Upon prepayment of part of the principal amount of this Note, the Borrower may require
Holder to present this Note for notation on Schedule 2 hereto of such adjustment and payment.

 

     

     

    

  

6.             Collateral. The Obligations of Borrower under this Note shall be secured by a personal guarantee of _________,
the President and the largest shareholder of the Borrower. The extension of the additional Loan Amount of $350,000 is subject to
the provision of additional security of the Obligations through mortgages pursuant to mortgage documentation, reasonably acceptable
to Holder, on the two condominiums owned by ____, located in Whistler, British Columbia, Canada (the “Mortgage Documents”).
The guarantee of and the mortgages for the Obligations of the Borrower under this Note is being provided as an accommodation to
Holder to extend the Loan Amount, which the Holder would not otherwise make to the Borrower.

 

7.             Covenants. The Borrower hereby covenants and agrees with the Holder that that so long as the Obligations (other
than contingent indemnification obligations as to which no claim has been asserted) under this Note remain outstanding, that Borrower
not shall, without the prior written consent of Holder, sell, assign, transfer, encumber or otherwise dispose of all or
any portion of the Borrower’s rights, title and interest in the Borrower or in its Business, except for (a) disposal
of damaged, obsolete or worn out equipment, in each case in the ordinary course of the Borrower’s Business, (b) the sale
or licensing of other intellectual property of the Borrower on an arms-length basis and in the ordinary course of the Borrower’s
Business, and (c) investment securities of or rights in the Borrower or its Business sold or issued by the Company to __________.

 

8.             Events of Default. It shall constitute an event of default (“Event of Default”) of this
Note if any one or more of the following shall occur for any reason:

 

(a)      
any failure to pay principal and interest on this Note pursuant to Section 3, Section 4 (including any default
interest as prescribed by Section 4(e)) or Section 5 after the same shall become due (whether by scheduled maturity,
acceleration, demand or otherwise); or

 

(b)      
any representation or warranty made or deemed made by or on behalf of either Borrower under or in connection with this Note
or in the Mortgage Documents shall have been incorrect in any respect when made or deemed made;

 

(c)      
The Borrower shall fail to perform or observe any term, covenant (including without limitation, any covenant under Section
7 of this Note) or agreement contained in this Note or the Mortgage Documents;

 

(d)      
The Borrower or _____ shall (i) become insolvent or shall fail generally to pay its debts as they mature or shall apply
for, shall consent to, or shall acquiesce in the appointment of a custodian, trustee or receiver for itself or for a substantial
part of his property or assets; or, in the absence of such application, consent or acquiescence, a custodian, trustee or receiver
shall be appointed for any Borrower or for a substantial part of any Borrower’s property or assets, or any Borrower shall
make an assignment for the benefit of creditors; or (ii) be the subject of any bankruptcy, reorganization, debt arrangement or
other proceedings under any bankruptcy or insolvency act or law, state, federal or foreign, now or hereafter existing, whether
voluntary or involuntary, which shall not have been dismissed within 60 days or an order for relief shall have been entered against
such Borrower; or

 

     

     

    

 

(e)      
Any Mortgage Document entered into in conjunction with the Loan shall at any time after its execution and delivery and for
any reason cease: (1) to create a valid and perfected security interest in and to the property purported to be subject to such
Mortgage Document with a priority as required by this Note; or (2) to be in full force and effect or shall be declared null and
void, or the validity or enforceability thereof shall be contested by Borrower or ______, or Borrower or ___________, as applicable,
shall deny it/he has any further liability or obligation under any Mortgage Document, or Borrower or ___ shall fail to perform
any of Borrower’s or ____ obligations under any Mortgage Document;

 

(f)       The occurrence of any event that could reasonably be expected to have a material adverse effect on the Borrower or ________
in respect of any of the obligations of this Note or under the guarantee or Mortgage Documents and the security interest provided
thereby.

 

9.            
Remedies. Upon the occurrence and during the continuance of an Event of Default, Holder shall have the right
to, without notice to or demand on the Borrower, to declare the outstanding principal and all accrued and unpaid interest hereunder
immediately due and payable, provided, that, upon the occurrence of an Event of Default specified in Section 8(d),
all amounts owing under this Note shall immediately become due and payable. In addition to the right of acceleration, upon the
occurrence of an Event of Default, Holder shall have any and all of the rights and remedies available at law or in equity.

 

10.          
Miscellaneous Provisions.

 

(a)      
This Note may not be amended or modified, and revision hereto shall not be effective, except by an instrument in writing
executed by the Borrower and Holder.

 

(b)       Any
notice or communication by the Borrower, on the one hand, or Holder on the other hand, to the other is duly given if in writing
and delivered in Person or mailed by first class mail (registered or certified, return receipt requested), or overnight air courier
guaranteeing next day delivery, to the others’ address set forth in Section 1 to this Note. Holder or the Borrower,
by notice to the other party, may designate additional or different addresses for subsequent notices or communications. All notices
and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; three Business
Days after being deposited in the mail, postage prepaid, if mailed; and the next Business Day after timely delivery to the courier,
if sent by overnight air courier guaranteeing next day delivery.

 

(c)       Every
provision of this Note is intended to be severable. In the event any term or provision hereof is declared by a court of competent
jurisdiction to be illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the balance of
the terms and provisions hereof, which terms and provisions shall remain binding and enforceable.

 

(d)       The
Borrower shall jointly and severally pay to Holder, on demand, all costs of administration, enforcement and collection (including
without limitation, any fees, disbursements and other charges of primary and special counsel to Holder) of this Note, whether or
not any action or proceeding is brought to enforce the provisions hereof.

 

(e)       No
failure on the part of Holder to exercise, and no delay in exercising, any right, power, privilege or remedy hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise thereof by Holder preclude any other or further exercise thereof
or the exercise of any other right, power, privilege or remedy of Holder.

 

     

     

    

 

(f)       Headings
at the beginning of each numbered Section of this Note are intended solely for convenience of reference and are not to be deemed
or construed to be a part of this Note.

 

(g)       This
Note may not be sold, transferred or otherwise hypothecated, in whole or in part by the Borrower. Any attempted sale, transfer
or hypothecation of this Note in violation of this provision shall be null and void.

 

(h)       The
obligations of the Borrower, including the Obligations, under this Note shall be automatically reinstated if and to the extent
that for any reason any payment by or on behalf of the Borrower in respect of this Note is rescinded or must be otherwise restored
by Holder, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, and the Borrower agrees that it
will indemnify Holder on demand for all reasonable costs and expenses (including, without limitation, reasonable fees of counsel)
incurred by Holder in connection with any such rescission or restoration, including any such costs and expenses incurred in defending
against any claim alleging that such payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy,
insolvency or similar law. The provisions of this paragraph (h) shall survive the termination of this Note.

 

(i)       This
Note shall be governed and controlled as to validity, enforcement, interpretation, construction, effect and in all other respects,
including, but not limited to, the legality of the interest charged hereunder, by the statutes, laws and decisions of the State
of New York without giving effect to such State’s conflicts of laws principles. 

 

The Borrower hereby irrevocably
consents to the venue and jurisdiction of the federal and state courts located in New York with respect to any proceeding which
may be brought in connection with the Note. The Borrower hereby expressly and irrevocably waives the right to a trial by jury in
any action or proceeding arising out of this Note. The Borrower waives any and all rights under the laws of the State of New York
to object to the jurisdiction of, or the commencement of any such claim, action or proceeding in, the State courts of the State
of New York or the federal courts of the State of New York as hereinabove set forth.

 

 

 

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intentionally blank]

 

     

     

    

 

IN WITNESS WHEREOF, the Borrower has executed
this Note as of the date first set forth above.

 

 

	 	By:  	  	 	 
		Name 	[Printed]:  	 	 
	 	Title:	  	 	 

 

 

 

 

 

     

     

    

 

Schedule 1

 

 

	Principle Amount 	Date of Extension of Credit	Aggregate Principle Amount Due	Notes
	 	 	 	 
	$150,000	August 11, 2016	$150,000	Loan extension
	$3,500	August 11, 2016	$153,500	Expenses of first tranche – note, guarantee, corporate authorization
	 	 	 	 
	 	 	 	 

  

 

Schedule 2

 

	Date of Payment	Principal Paid or Prepaid	Aggregate Principal Balance	Notation Made By

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