Document:

Exhibit 10.66

 

AMENDMENT NO. 4 TO CREDIT AND SECURITY
AGREEMENT 

AND LIMITED WAIVER

 

THIS
AMENDMENT NO. 4 TO CREDIT AND SECURITY AGREEMENT AND LIMITED WAIVER (this “Amendment”) is made as of this
30th day of June, 2015, by and among TWINLAB CONSOLIDATED HOLDINGS, INC., a Nevada corporation (“TCHI”),
TWINLAB CONSOLIDATION CORPORATION, a Delaware corporation (“TCC”), TWINLAB HOLDINGS, INC., a Michigan
corporation, ISI BRANDS INC., a Michigan corporation, TWINLAB CORPORATION, a Delaware corporation, NUTRASCIENCE
LABS, INC., a Delaware corporation (formerly known as TCC CM Subco I, Inc.), and NUTRASCIENCE LABS IP CORPORATION, a
Delaware corporation (formerly known as TCC CM Subco II, Inc.) (each
of the foregoing Persons being referred to herein individually as a “Borrower”, and collectively as “Borrowers”),
and MIDCAP FUNDING X TRUST, a Delaware statutory trust, as successor-by-assignment from MidCap Financial Trust (as Agent
for Lenders, “Agent”, and individually, as a Lender), and the other financial institutions or other entities
from time to time parties to the Credit Agreement referenced below, each as a Lender.

 

RECITALS

 

A.           Pursuant
to that certain Credit and Security Agreement dated as of January 22, 2015 by and among Borrowers, Agent and Lenders (as amended
by that certain Amendment No. 1 to Credit and Security Agreement and Limited Consent dated as of February 4, 2015, by that certain
Amendment No. 2 to Credit and Security Agreement dated as of April 7, 2015, by that certain Amendment No. 3 and Limited Consent
to Credit and Security Agreement dated as of April 30, 2015, as further amended hereby and as it may be further amended, modified
and restated from time to time, the “Credit Agreement”), Agent and Lenders agreed to make available to Borrowers
a secured revolving credit facility in a principal amount of up to $15,000,000 from time to time (as amended, modified, supplemented,
extended and restated from time to time, collectively, the “Loans”). Capitalized terms used but not otherwise
defined in this Amendment shall have the meanings set forth in the Credit Agreement.

 

B.           Borrowers
have failed to satisfy Section 6.2 (Minimum Adjusted EBITDA) of the Credit Agreement because Borrowers’ Adjusted EBITDA was
less than $ -2,500,000 with respect to the measurement period from January 1, 2015 to March 31, 2015, and such failure constitutes
an Event of Default under the Credit Agreement (the “Existing Event of Default”). Borrowers have requested that
Agent and the Lenders waive the Existing Event of Default, and Agent and Lenders have agreed to do so, in accordance with the terms
and subject to the conditions set forth herein.

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the foregoing, the terms and conditions set forth in this Amendment, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Agent, Lenders and Borrowers hereby agree as follows:

 

1.          Recitals.
 This Amendment shall constitute a Financing Document and the Recitals set forth above shall be construed as part of this Amendment
as if set forth fully in the body of this Amendment.

 

    	 

    	 

    

 

2.          Acknowledgement
of Existing Event of Default. Prior to the effectiveness of this Amendment, the existence of the Existing Event
of Default (a) relieved Agent and Lenders from any obligation to provide any financial accommodations under the Credit Agreement
or other Financing Documents, and (b) permitted Agent and Lenders to, among other things, (i) accelerate all or any portion of
the Obligations, (ii) commence any legal or other action to collect any or all of the Obligations from Borrowers and/or any Collateral,
(iii) foreclose or otherwise realize on any or all of the Collateral, and/or appropriate, set-off and apply to the payment of any
or all of the Obligations, any or all of the Collateral, and/or (iv) take any other enforcement action or otherwise exercise any
or all rights and remedies provided for by any or all of the Credit Agreement, the other Financing Documents or applicable law.

 

3.          Limited
Waiver.  Each of the Borrowers hereby acknowledges and agrees that the Existing Event of Default continues to exist
as of the date hereof. At the request of and as an accommodation to Borrowers and subject to the terms and conditions set forth
herein, Agent and Lenders hereby waive the Existing Event of Default. The limited waiver set forth in this Section 3 is effective
solely for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) except as expressly
provided herein, be a consent to any amendment, waiver or modification of any term or condition of the Credit Agreement or of any
other Financing Document; (b) prejudice any right that Agent or the Lenders have or may have in the future under or in connection
with the Credit Agreement or any other Financing Document, including, without limitation, the rights of the Agent under Section
2.1(b)(i) of the Credit Agreement; (c) waive any other Event of Default that may exist as of the date hereof; (d) waive compliance
with Section 6.2 of the Credit Agreement for any period other than with respect to the measurement period from January 1,
2015 to March 31, 2015; or (e) establish a custom or course of dealing among any of the Credit Parties, on the one hand, or Agent
or any Lender, on the other hand.

 

4.           Amendment
to Credit Agreement. 

 

(a)         Section
1.1 of the Credit Agreement is hereby amended to add the defined term “Fourth Amendment Closing Date” in its alphabetical
order:

 

“Fourth Amendment Closing
Date” means June 30, 2015.

 

(b)         The
Credit Agreement is hereby amended to add new Section 3.25 as follows:

 

Fourth
Amendment Closing Date Capitalization. The authorized equity
securities of each of the Credit Parties as of the Fourth Amendment Closing Date are as set forth on Schedule 3.4(B). All
issued and outstanding equity securities of each of the Credit Parties are duly authorized and validly issued, fully paid, nonassessable,
free and clear of all Liens other than those in favor of Agent and/or Lenders and Permitted Liens that are the subject of a Subordination
Agreement, and such equity securities were issued in compliance with all applicable Laws. The identity of the holders of the equity
securities of each of the Credit Parties and the percentage of their fully-diluted ownership of the equity securities of each of
the Credit Parties as of the Fourth Amendment Closing Date is set forth on Schedule 3.4(B). No shares of the capital stock
or other equity securities of any Credit Party, other than those described above, are issued and outstanding as of the Fourth Amendment
Closing Date. Except as set forth on Schedule 3.4(B), as of the Fourth Amendment Closing Date there are no preemptive or other
outstanding rights, options, warrants, conversion rights or similar agreements or understandings for the purchase or acquisition
from any Credit Party of any equity securities of any such entity.

 

    	 

    	 

    

  

(c)          Section
6.2 of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

Minimum
Adjusted EBITDA. Commencing with the month ending July 31, 2015 and until such time as all Obligations are paid, satisfied
and discharged in full, the Borrowers shall not, as of the end of any measurement period set forth below, permit the Adjusted EBITDA
for such measurement period to be less than the amount set forth in the table below opposite such measurement period.

 

	Measurement Period	 	Minimum Adjusted EBITDA	 
	July 1, 2015 to July 31, 2015	 	$	-700,000	 
	August 1, 2015 to August 31, 2015	 	$	-700,000	 

 

(d)        The
Schedules of the Credit Agreement are hereby amended to add new Schedule 3.4(B) in the form of Schedule 3.4(B) attached to and
made a part of this Amendment.

 

5.          Confirmation
of Representations and Warranties; Reaffirmation of Security Interest.  Each Borrower hereby (a) confirms that all of the
representations and warranties set forth in the Credit Agreement are, after giving effect to this Amendment and the transactions
contemplated hereby, true and correct with respect to such Borrower as of the date hereof to the same extent as though made on
and as of such date, except (i) to the extent such representations and warranties specifically relate to an earlier date and (ii)
without limiting any rights or remedies of Agent and Lenders under any other section in the Credit Agreement, with respect to the
respresentation and warranty in Section 3.8 the Agent acknowledges that Borrowers has not repaid the Nutricap Seller First Note
at its stated maturity, and (b) covenants to perform its respective obligations under the Credit Agreement. Each Borrower
confirms and agrees that all security interests and Liens granted to Agent continue in full force and effect, and all Collateral
remains free and clear of any Liens, other than those granted to Agent and Permitted Liens. Nothing herein is intended to impair
or limit the validity, priority or extent of Agent’s security interests in and Liens on the Collateral. 

 

5.          Enforceability.
 This Amendment constitutes the legal, valid and binding obligation of each Borrower, and is enforceable against each of the
Borrowers in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or other
similar laws relating to the enforcement of creditors’ rights generally and by general equitable principles.

 

    	 

    	 

    

  

6.           Costs
and Fees. In consideration of Agent’s agreement to enter into this Amendment, Borrower shall pay to Agent a modification
fee equal to One Hundred Thousand and No/100 Dollars ($100,000.00), of which (i) Fifty Thousand and No/100 Dollars ($50,000) shall
be due and payable on the date hereof and (ii) Fifty Thousand and No/100 Dollars ($50,000) shall be due and payable with the next
invoice provided to Borrower by Agent following the date hereof for the month ended July 31, 2015 to be capitalized to the Revolving
Loans on August 1, 2015. Furthermore, Borrowers shall be responsible for the payment of all reasonable costs and fees of Agent’s
counsel incurred in connection with the preparation of this Amendment and any related documents. If Agent or any Lender uses in-house
counsel for any of these purposes, Borrowers further agree that the Obligations include reasonable charges for such work commensurate
with the fees that would otherwise be charged by outside legal counsel selected by Agent or such Lender for the work performed.
Borrowers hereby authorize Agent to deduct all of such fees set forth
in this Section 6 from the proceeds of one or more Revolving Loans made under the Credit Agreement.

 

7.
           Conditions to Effectiveness. This Amendment shall become
effective as of the date on which each of the following conditions has been satisfied (the “Effective Date”):

 

(a)          Borrowers
shall have delivered to Agent this Amendment, duly executed by an authorized officer of each Borrower;

 

(b)          [Reserved.];

 

(c)          all
representations and warranties of Borrowers contained herein shall be true and correct in all material respects as of the Effective
Date (and such parties’ delivery of their respective signatures hereto shall be deemed to be its certification thereof);

 

(d)          [Reserved.];

 

(e)          Agent
shall have received from Borrowers the $50,000 of fees owing pursuant to Section 6(i) of this Amendment and Agent’s reasonable
out-of-pocket legal fees and expenses;

 

(f)          Agent
shall have received (i) a fully executed waiver to the Subordinated Loan Agreement (as that term is defined in the Subordination
Agreement (Penta)) in the form attached hereto as Exhibit A, (ii) a fully executed copy of the Share Purchase Agreement, dated
as of the date hereof, between Penta Mezzanine SBIC Fund I, L.P. and Parent in the form attached hereto as Exhibit B and (iii)
the fully executed Warrant No. W-4 in the form attached hereto as Exhibit C.

 

(g)          Agent
shall have received (i) a fully executed waiver to the Subordinated Loan Agreement (as that term is defined in the Subordination
Agreement (Subordination Agreement (JL-BBNC) in the form attached hereto as Exhibit D, (ii) a fully executed copy of the Share
Purchase Agreement, dated as of the date hereof, between JL-BBNC Mezz Utah, LLC and Parent in the form attached hereto as Exhibit
E and (iii) a fully executed copy of the Warrant, dated as of the date hereof, issued by Parent to Subordinated Lender in the form
attached hereto as Exhibit F.

 

    	 

    	 

    

 

(h)          The
Agent shall have received (i) evidence satisfactory to the Agent that the David L. Van Andel Trust, under Trust Agreement dated
November 30, 1993 (the “David L. Van Andel Trust”) has invested at least $2,500,000 in cash in the Equity Interests
of Parent, (ii) a fully executed copy of the Share Purchase Agreement, dated as of the date hereof, among Parent and David L. Van
Andel Trust in the form attached hereto as Exhibit G, (iii) evidence that David L. Van Andel Trust surrendered to Parent that certain
Warrant No. 1, dated as of September 5, 2014, issued by TCC to David L. Van Andel and assumed by Parent on September 16, 2014,
and such warrant has been cancelled and (iv) fully executed copies of the Warrants, dated as of the date hereof, issued by Parent
to David L. Van Andel Trust in the forms attached hereto as Exhibit H.

 

(i)          The
Agent shall have received (i) a fully executed copy of the Share Purchase Agreement, dated as of the date hereof, among Parent
and Little Harbor, LLC in the form attached hereto as Exhibit I and (ii) a fully executed copy of the Warrant, dated as of the
date hereof, issued by Parent to Little Harbor, LLC, in the form attached hereto as Exhibit J.

 

8.          Release.
Each Borrower, voluntarily, knowingly, unconditionally and irrevocably, with specific and express intent, for and on behalf of
itself and all of its respective parents, subsidiaries, affiliates, members, managers, predecessors, successors, and assigns, and
each of their respective current and former directors, officers, shareholders, agents, and employees (collectively, “Releasing
Parties”), does hereby fully and completely release, acquit and forever discharge each Indemnitee of and from any and
all actions, causes of action, suits, debts, disputes, damages, claims, obligations, liabilities, costs, expenses and demands of
any kind whatsoever, at law or in equity, whether matured or unmatured, liquidated or unliquidated, vested or contingent, choate
or inchoate, known or unknown that the Releasing Parties (or any of them) has against the Indemnitees (or any of them) that directly
or indirectly arise out of, are based upon or are in any manner connected with any Prior Related Event. “Prior Related
Event” means any transaction, event, circumstance, action, failure to act, occurrence of any type or sort, whether known
or unknown, which occurred, existed, was taken, was permitted or begun in accordance with, pursuant to or by virtue of (a) any
of the terms of this Amendment or any other Financing Document, (b) any actions, transactions, matters or circumstances related
hereto or thereto, (c) the conduct of the relationship between any Indemnitee and any Borrower, or (d) any other actions
or inactions by any Indemnitee, all on or prior to the Effective Date. Each Borrower acknowledges that the foregoing release is
a material inducement to Agent’s and Lender’s decision to enter into this Amendment and to agree to the modifications
contemplated hereunder.

 

9.          No
Waiver or Novation. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided
in this Amendment, operate as a waiver of any right, power or remedy of Agent, nor constitute a waiver of any provision of the
Credit Agreement, the Financing Documents or any other documents, instruments and agreements executed or delivered in connection
with any of the foregoing. Nothing herein is intended or shall be construed, except as expressly provided in this Amendment, as
a waiver of any existing Defaults or Events of Default under the Credit Agreement or other Financing Documents or any of Agent’s
rights and remedies in respect of such Defaults or Events of Default. This Amendment (together with any other document executed
in connection herewith) is not intended to be, nor shall it be construed as, a novation of the Credit Agreement.

 

    	 

    	 

    

 

10.        Affirmation.
Except as specifically amended and waived pursuant to the terms hereof, the Credit Agreement and all other Financing Documents
(and all covenants, terms, conditions and agreements therein) shall remain in full force and effect, and are hereby ratified and
confirmed in all respects by Borrowers. Each Borrower covenants and agrees to comply with all of the terms, covenants and conditions
of the Credit Agreement (as amended hereby) and the Financing Documents, notwithstanding any prior course of conduct, waivers,
releases or other actions or inactions on Agent’s or any Lender’s part which might otherwise constitute or be construed
as a waiver of or amendment to such terms, covenants and conditions.

 

11.         Miscellaneous.

 

(a)          Reference
to the Effect on the Credit Agreement.  Upon the effectiveness of this Amendment, each reference in the Credit Agreement
to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of similar import
shall mean and be a reference to the Credit Agreement, as amended by this Amendment. Except as specifically amended and waived
above, the Credit Agreement, and all other Financing Documents (and all covenants, terms, conditions and agreements therein),
shall remain in full force and effect, and are hereby ratified and confirmed in all respects by Borrowers.

 

(b)          Incorporation
of Credit Agreement Provisions. The provisions contained in Section 11.6 (Indemnification), Section 12.8 (Governing Law; Submission
to Jurisdiction) and Section 12.9 (Waiver of Jury Trial) of the Credit Agreement are incorporated herein by reference to the same
extent as if reproduced herein in their entirety.

 

(c)          Headings.
Section headings in this Amendment are included for convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

 

(d)          Counterparts.
This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument. Signatures by facsimile or by electronic mail delivery of an electronic
version (e.g., .pdf or .tif file) of an executed signature page shall be treated as delivery of an original and shall bind
the parties hereto. This Amendment constitutes the entire agreement and understanding among the parties hereto and supersede any
and all prior agreements and understandings, oral or written, relating to the subject matter hereof.

  

[SIGNATURES APPEAR ON FOLLOWING PAGES]

 

    	 

    	 

    

 

(Signature
Page to Amendment No. 4 to Credit and Security Agreement and Limited Waiver) 

 

IN WITNESS WHEREOF,
intending to be legally bound, and intending that this document constitute an agreement executed under seal, the undersigned have
executed this Amendment under seal as of the day and year first hereinabove set forth.

 

	AGENT:	MIDCAP
    FUNDING X TRUST, a Delaware statutory trust, as successor-by-assignment from MidCap Financial Trust
	 	 	 
	 	By:	Apollo
    Capital Management, L.P.,
	 	 	its
    investment manager
	 	 	 
	 	By:	Apollo
    Capital Management GP, LLC,
	 	 	its
    general partner
	 	 	 
	 	By:
    /s/ Michael Levin                                        (SEAL)
	 	Name:  	Michael
    Levin
	 	Title:	Authorized
    Signatory
	 	 	 
	LENDER:	MIDCAP
    FUNDING X TRUST, a Delaware statutory trust, as successor-by-assignment from MidCap Financial Trust
	 	 	 
	 	By:	Apollo
    Capital Management, L.P.,
	 	 	its
    investment manager
	 	 	 
	 	By:	Apollo
    Capital Management GP, LLC,
	 	 	its
    general partner
	 	 	 
	 	By:
    /s/ Michael Levin                                        (SEAL)
	 	Name:  	Michael
    Levin
	 	Title:	Authorized
    Signatory

 

    	 

    	 

    

 

(Signature Page to Amendment No.
4 to Credit and Security Agreement and Limited Waiver)

 

	BORROWERS:	 	TWINLAB
    CONSOLIDATION CORPORATION
	 	 	 
	 	 	By:
    /s/ Thomas A. Tolworthy                         (Seal)
	 	 	Name:
    Thomas A. Tolworthy
	 	 	Title:   Chief
    Executive Officer and President 
	 	 	 
	TWINLAB
    CONSOLIDATED HOLDINGS, INC.	 	TWINLAB
    HOLDINGS, INC.
	 	 	 
	By:
    /s/ Thomas A. Tolworthy                         (Seal)	 	By:
    /s/ Thomas A. Tolworthy                         (Seal)
	Name:  Thomas
    A. Tolworthy	 	Name:  Thomas
    A. Tolworthy
	Title:  Chief
    Executive Officer and President 	 	Title:  Chief
    Executive Officer and President 
	 	 	 
	TWINLAB
    CORPORATION	 	ISI
    BRANDS INC.
	 	 	 
	By:
    /s/ Thomas A. Tolworthy                         (Seal)	 	By:
    /s/ Thomas A. Tolworthy                         (Seal)
	Name:  Thomas
    A. Tolworthy	 	Name:  Thomas
    A. Tolworthy
	Title:  Chief
    Executive Officer and President 	 	Title:  Chief
    Executive Officer and President 
	 	 	 
	NUTRASCIENCE
    LABS, INC.	 	NUTRASCIENCE
    LABS IP CORPORATION
	 	 	 
	By:
    /s/ Thomas A. Tolworthy                         (Seal)	 	By:
    /s/ Thomas A. Tolworthy                         (Seal)
	Name:  Thomas
    A. Tolworthy	 	Name:  Thomas
    A. Tolworthy
	Title:  Chief
    Executive Officer and President 	 	Title:  Chief
    Executive Officer and President 
	 	 	 

    	 

    	 

    

 

SCHEDULE 3.4(B)

 

[Attached Fourth Amendment Closing
Date Capitalization Table]Exhibit 10.67

 

 

AMENDMENT NO. 5 TO CREDIT AND SECURITY
AGREEMENT 

AND LIMITED CONSENT

 

THIS
AMENDMENT NO. 5 TO CREDIT AND SECURITY AGREEMENT AND LIMITED CONSENT (this “Amendment”) is made as of this
30th day of June, 2015, by and among TWINLAB CONSOLIDATED HOLDINGS, INC., a Nevada corporation (“TCHI”),
TWINLAB CONSOLIDATION CORPORATION, a Delaware corporation (“TCC”), TWINLAB HOLDINGS, INC., a Michigan
corporation, ISI BRANDS INC., a Michigan corporation, TWINLAB CORPORATION, a Delaware corporation (“Twinlab
Corporation”), NUTRASCIENCE LABS, INC., a Delaware corporation (formerly known as TCC CM Subco I, Inc.), and NUTRASCIENCE
LABS IP CORPORATION, a Delaware corporation (formerly known as TCC CM Subco II, Inc.) (each
of the foregoing Persons being referred to herein individually as a “Borrower”, and collectively as “Borrowers”),
and MIDCAP FUNDING X TRUST, a Delaware statutory trust, as successor-by-assignment from MidCap Financial Trust (as Agent
for Lenders, “Agent”, and individually, as a Lender), and the other financial institutions or other entities
from time to time parties to the Credit Agreement referenced below, each as a Lender.

 

RECITALS

 

A.           Pursuant
to that certain Credit and Security Agreement dated as of January 22, 2015 by and among Borrowers, Agent and Lenders (as amended
by that certain Amendment No. 1 to Credit and Security Agreement and Limited Consent dated as of February 4, 2015, by that certain
Amendment No. 2 to Credit and Security Agreement dated as of April 7, 2015, by that certain Amendment No. 3 to Credit and Security
Agreement and Limited Consent dated as of April 30, 2015, by that certain Amendment No. 4 to Credit and Security Agreement and
Limited Consent dated as of June 30, 2015, as further amended hereby and as it may be further amended, modified and restated from
time to time, the “Credit Agreement”), Agent and Lenders agreed to make available to Borrowers a secured revolving
credit facility in a principal amount of up to $15,000,000 from time to time (as amended, modified, supplemented, extended and
restated from time to time, collectively, the “Loans”). Capitalized terms used but not otherwise defined in
this Amendment shall have the meanings set forth in the Credit Agreement.

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the foregoing, the terms and conditions set forth in this Amendment, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Agent, Lenders and Borrowers hereby agree as follows:

 

1.          Recitals.
 This Amendment shall constitute a Financing Document and the Recitals set forth above shall be construed as part of this Amendment
as if set forth fully in the body of this Amendment.

 

    	 

    	 

    

 

2.          Limited
Consent for new Essex Lease.  At the request of and as an accommodation to Borrowers and subject to the strict compliance
with the terms, conditions and requirements set forth herein (including, without limitation, satisfaction of each of the conditions
set forth in Section 7 below), Agent and Lenders hereby consent to (i) a sale/leaseback and refinancing transaction with Essex
Capital Corporation in the principal rental amount of $2,750,000 consisting of the sale/leaseback of existing Twinlab Corporation
equipment described on Exhibit A (the “First 2015 Essex Lease”) and (ii) a sale/leaseback and refinancing
transaction with Essex Capital Corporation in the principal rental amount of $150,000 consisting of the sale/leaseback of existing
Twinlab Corporation equipment described on Exhibit B (the “Second 2015 Essex Lease” and together, collectively,
the “2015 Essex Leases”). Consent for the 2015 Essex Leases includes consent for Twinlab Corporation to sell
the equipment described on Exhibit A and Exhibit B to Essex Capital Corporation, and Agent shall execute such lien releases and
file such financing amendments to evidence lien releases of the equipment described on Exhibit A and Exhibit B as reasonably requested
by Twinlab Corporation or Essex Capital Corporation. The limited consent set forth in this Section 2 is effective solely for the
purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) except as expressly provided
herein, be a consent to any amendment, waiver or modification of any term or condition of the Credit Agreement or of any other
Financing Document; (b) prejudice any right that Agent or the Lenders have or may have in the future under or in connection with
the Credit Agreement or any other Financing Document; (c) waive any Event of Default that exists as of the date hereof; or (d)
establish a custom or course of dealing among any of the Credit Parties, on the one hand, or Agent or any Lender, on the other
hand.

 

3.          Amendment
to Credit Agreement. 

 

(a)          The
defined terms “Essex Lease”, “Nutricap Seller First Note” “Permitted Contingent Obligations”
in Section 1.1 of the Credit Agreement are hereby amended and restated in their entirety as follows:

 

“Essex Lease” means
collectively, (i) that certain Commercial Lease Agreement, dated as of November 13, 2013, between Twinlab Corporation and Essex
Capital Corporation, (ii) that certain Commercial Lease Agreement, dated as of August 21, 2014 (which Commercial Lease Agreement
refreshes and supersedes a Commercial Lease Agreement dated March 19, 2013), between Twinlab Corporation and Essex Capital Corporation,
and (iii) new sale/leaseback and refinancing agreements, referenced above as the 2015 Essex Leases, to be entered into between
Twinlab Corporation and Essex Capital Corporation, in the form previously provided to and approved by the Agent and for which Essex
Capital Corporation has agreed to be subject to an Agreement Regarding Equipment and Lease in form and substance satisfactory to
the Agent in its sole discretion; the rental installments of all such lease agreements identified in subclauses (i) through (iii)
together is not to exceed an aggregate principal rental amount of $5,800,000.

 

“Nutricap Seller First
Note” means the Amended and Restated Unsecured Promissory Note dated June 30, 2015 in the form previously approved by the
Agent in the principal amount of $2,750,000 issued by Subco I to Nutricap Labs, LLC, a New York limited liability company, in connection
with the Target 2 Acquisition, the principal and interest repayment of which shall have a maturity of January 1, 2016 and bear
interest at 8.5% per annum, an executed copy of which has been provided to the Agent.

 

    	 

    	 

    

 

“Permitted Contingent
Obligations” means (a) Contingent Obligations arising in respect of the Debt under the Financing Documents; (b) Contingent
Obligations resulting from endorsements for collection or deposit in the Ordinary Course of Business; (c) Contingent Obligations
outstanding on the date of this Agreement and set forth on Schedule 5.1 (but not including any refinancings, extensions, increases
or amendments to the indebtedness underlying such Contingent Obligations other than extensions of the maturity thereof without
any other change in terms); (d) Contingent Obligations incurred in the Ordinary Course of Business with respect to surety
and appeal bonds, performance bonds and other similar obligations not to exceed $250,000 in the aggregate at any time outstanding;
(e) Contingent Obligations arising under indemnity agreements with title insurers to cause such title insurers to issue to
Agent mortgagee title insurance policies; (f) Contingent Obligations arising with respect to customary indemnification obligations
in favor of purchasers in connection with dispositions of personal property assets permitted under Section 5.6; (g) that certain
Payment Guaranty by TCC of the Nutricap Seller First Note and (h) other Contingent Obligations not permitted by clauses (a)
through (g) above, not to exceed $250,000 in the aggregate at any time outstanding. 

 

(b)          The
defined term “Distribution” in Section 1.1 of the Credit Agreement is hereby amended by restating subclause (e) in
its entirety as follows:

 

(e) except for payments under
the Essex Lease permitted by the applicable Agreement Regarding Equipment and Lease relating thereto, repayments of or debt service
on loans or other indebtedness held by any Person holding an equity interest in a Borrower or a Subsidiary of a Borrower, an Affiliate
of a Borrower or an Affiliate of any Subsidiary of a Borrower unless permitted under and made pursuant to a Subordination Agreement
applicable to such loans or other indebtedness.

 

4.          Confirmation
of Representations and Warranties; Reaffirmation of Security Interest.  Each Borrower hereby (a) confirms that all of the
representations and warranties set forth in the Credit Agreement are true and correct with respect to such Borrower as of the date
hereof, and (b) covenants to perform its respective obligations under the Credit Agreement. Each Borrower confirms and agrees
that all security interests and Liens granted to Agent continue in full force and effect, and all Collateral remains free and clear
of any Liens, other than those granted to Agent and Permitted Liens. Nothing herein is intended to impair or limit the validity,
priority or extent of Agent’s security interests in and Liens on the Collateral. 

 

    	 

    	 

    

 

5.           Enforceability.
 This Amendment constitutes the legal, valid and binding obligation of each Borrower, and is enforceable against each Borrowers
in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or other similar laws
relating to the enforcement of creditors’ rights generally and by general equitable principles.

 

6.            Costs and Fees.
Borrowers shall be responsible for the payment of all reasonable costs and fees of Agent’s counsel incurred in connection
with the preparation of this Amendment and any related documents. If Agent or any Lender uses in-house counsel for any of these
purposes, Borrowers further agree that the Obligations include reasonable charges for such work commensurate with the fees that
would otherwise be charged by outside legal counsel selected by Agent or such Lender for the work performed. Borrowers hereby authorize
Agent to deduct all of such fees set forth in this Section 6 from the proceeds of one or more Revolving Loans made under the Credit
Agreement.

 

7.           Conditions
to Effectiveness. This Amendment shall become effective as of the date on which each of the following conditions has been
satisfied (the “Effective Date”):

 

(a)          Borrowers
shall have delivered to Agent this Amendment, duly executed by an authorized officer of each Borrower;

 

(b)          Agent
shall have received from Borrowers executed copies of all documents and agreements relating to the 2015 Essex Leases and the Nutricap
Seller First Note, including, but not limited to, the Payment Guaranty of Essex Capital Corporation and Ralph T. Iannelli of the
Nutricap Seller First Note and each Bill of Sale with respect to the 2015 Essex Leases, duly executed by an authorized officer
of each of the parties thereto;

 

(c)          all
representations and warranties of Borrowers contained herein shall be true and correct in all material respects as of the Effective
Date (and such parties’ delivery of their respective signatures hereto shall be deemed to be its certification thereof);

 

(d)          [Reserved.];

 

(e)          Agent
shall have received from Borrowers of all of the fees owing pursuant to this Amendment and Agent’s reasonable out-of-pocket
legal fees and expenses;

 

(f)          Borrowers
shall have delivered to Agent a fully executed copy of the Amendment No. 1 to Standstill Agreement, duly executed by an authorized
officer of each of the parties thereto, including but not limited to NUTRICAP LABS, LLC, as junior lender, and such amendment shall
be satisfactory in form and substance to Agent; and

 

(g)          Borrowers
shall have delivered to Agent a fully executed Agreement Regarding Equipment and Lease with respect to the 2015 Essex Leases, and
such agreement shall be satisfactory in form and substance to Agent.

 

    	 

    	 

    

 

8.          Release.
Each Borrower, voluntarily, knowingly, unconditionally and irrevocably, with specific and express intent, for and on behalf of
itself and all of its respective parents, subsidiaries, affiliates, members, managers, predecessors, successors, and assigns, and
each of their respective current and former directors, officers, shareholders, agents, and employees (collectively, “Releasing
Parties”), does hereby fully and completely release, acquit and forever discharge each Indemnitee of and from any and
all actions, causes of action, suits, debts, disputes, damages, claims, obligations, liabilities, costs, expenses and demands of
any kind whatsoever, at law or in equity, whether matured or unmatured, liquidated or unliquidated, vested or contingent, choate
or inchoate, known or unknown that the Releasing Parties (or any of them) has against the Indemnitees (or any of them) that directly
or indirectly arise out of, are based upon or are in any manner connected with any Prior Related Event. “Prior Related
Event” means any transaction, event, circumstance, action, failure to act, occurrence of any type or sort, whether known
or unknown, which occurred, existed, was taken, was permitted or begun in accordance with, pursuant to or by virtue of (a) any
of the terms of this Amendment or any other Financing Document, (b) any actions, transactions, matters or circumstances related
hereto or thereto, (c) the conduct of the relationship between any Indemnitee and any Borrower, or (d) any other actions
or inactions by any Indemnitee, all on or prior to the Effective Date. Each Borrower acknowledges that the foregoing release is
a material inducement to Agent’s and Lender’s decision to enter into this Amendment and to agree to the modifications
contemplated hereunder.

 

9.          No
Waiver or Novation. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided
in this Amendment, operate as a waiver of any right, power or remedy of Agent, nor constitute a waiver of any provision of the
Credit Agreement, the Financing Documents or any other documents, instruments and agreements executed or delivered in connection
with any of the foregoing. Nothing herein is intended or shall be construed as a waiver of any existing Defaults or Events of Default
under the Credit Agreement or other Financing Documents or any of Agent’s rights and remedies in respect of such Defaults
or Events of Default. This Amendment (together with any other document executed in connection herewith) is not intended to be,
nor shall it be construed as, a novation of the Credit Agreement.

 

10.        Affirmation.
Except as specifically amended pursuant to the terms hereof, the Credit Agreement and all other Financing Documents (and all covenants,
terms, conditions and agreements therein) shall remain in full force and effect, and are hereby ratified and confirmed in all respects
by Borrowers. Each Borrower covenants and agrees to comply with all of the terms, covenants and conditions of the Credit Agreement
(as amended hereby) and the Financing Documents, notwithstanding any prior course of conduct, waivers, releases or other actions
or inactions on Agent’s or any Lender’s part which might otherwise constitute or be construed as a waiver of or amendment
to such terms, covenants and conditions.

 

11.          Miscellaneous.

 

(a)          Reference
to the Effect on the Credit Agreement.  Upon the effectiveness of this Amendment, each reference in the Credit Agreement
to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of similar import
shall mean and be a reference to the Credit Agreement, as amended by this Amendment. Except as specifically amended above, the
Credit Agreement, and all other Financing Documents (and all covenants, terms, conditions and agreements therein), shall remain
in full force and effect, and are hereby ratified and confirmed in all respects by Borrowers.

 

    	 

    	 

    

 

(b)          Incorporation
of Credit Agreement Provisions. The provisions contained in Section 11.6 (Indemnification), Section 12.8 (Governing Law; Submission
to Jurisdiction) and Section 12.9 (Waiver of Jury Trial) of the Credit Agreement are incorporated herein by reference to the same
extent as if reproduced herein in their entirety.

 

(c)          Headings.
Section headings in this Amendment are included for convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

 

(d)          Counterparts.
This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument. Signatures by facsimile or by electronic mail delivery of an electronic
version (e.g., .pdf or .tif file) of an executed signature page shall be treated as delivery of an original and shall bind
the parties hereto. This Amendment constitutes the entire agreement and understanding among the parties hereto and supersede any
and all prior agreements and understandings, oral or written, relating to the subject matter hereof.

  

[SIGNATURES APPEAR ON FOLLOWING PAGES]

 

    	 

    	 

    

 

(Signature Page to Amendment No.
5 to Credit and Security Agreement and Limited Consent)

 

IN WITNESS WHEREOF,
intending to be legally bound, and intending that this document constitute an agreement executed under seal, the undersigned have
executed this Amendment under seal as of the day and year first hereinabove set forth.

 

	AGENT:	MIDCAP
    FUNDING X TRUST, a Delaware statutory trust, as successor-by-assignment from MidCap Financial Trust
	 	 	 
	 	By:	Apollo
    Capital Management, L.P.,
	 	 	its
    investment manager
	 	 	 
	 	By:	Apollo
    Capital Management GP, LLC,
	 	its
    general partner
	 	 	 
	 	By:
    /s/ Michael Levin                                        (SEAL)
	 	Name:  	Michael
    Levin
	 	Title:	Authorized
    Signatory
	 	 	 
	LENDER:	MIDCAP
    FUNDING X TRUST, a Delaware statutory trust, as successor-by-assignment from MidCap Financial Trust
	 	 	 
	 	By:	Apollo
    Capital Management, L.P.,
	 	 	its
    investment manager
	 	 	 
	 	By:	Apollo
    Capital Management GP, LLC,
	 	its
    general partner
	 	 	 
	 	By:
    /s/ Michael Levin                                        (SEAL)
	 	Name:  	Michael
    Levin
	 	Title:	Authorized
    Signatory

 

    	 

    	 

    

 

(Signature Page to Amendment No.
5 to Credit and Security Agreement and Limited Consent)

 

	BORROWERS:	 	TWINLAB
    CONSOLIDATION CORPORATION
	 	 	 
	 	 	By:
    /s/ Thomas A. Tolworthy                         (Seal)
	 	 	Name:
    Thomas A. Tolworthy
	 	 	Title:   Chief
    Executive Officer and President 
	 	 	 
	 	 	 
	TWINLAB
    CONSOLIDATED HOLDINGS, INC.	 	TWINLAB
    HOLDINGS, INC.
	 	 	 
	By:
    /s/ Thomas A. Tolworthy                         (Seal)	 	By:
    /s/ Thomas A. Tolworthy                         (Seal)
	Name:  Thomas
    A. Tolworthy	 	Name:  Thomas
    A. Tolworthy
	Title:  Chief
    Executive Officer and President 	 	Title:  Chief
    Executive Officer and President 
	 	 	 
	TWINLAB
    CORPORATION	 	ISI
    BRANDS INC.
	 	 	 
	By:
    /s/ Thomas A. Tolworthy                         (Seal)	 	By:
    /s/ Thomas A. Tolworthy                         (Seal)
	Name:  Thomas
    A. Tolworthy	 	Name:  Thomas
    A. Tolworthy
	Title:  Chief
    Executive Officer and President 	 	Title:  Chief
    Executive Officer and President 
	 	 	 
	NUTRASCIENCE
    LABS, INC.	 	NUTRASCIENCE
    LABS IP CORPORATION
	 	 	 
	By:
    /s/ Thomas A. Tolworthy                         (Seal)	 	By:
    /s/ Thomas A. Tolworthy                         (Seal)
	Name:  Thomas
    A. Tolworthy	 	Name:  Thomas
    A. Tolworthy
	Title:  Chief
    Executive Officer and President 	 	Title:  Chief
    Executive Officer and President 
	 	 	 

    	 

    	 

    

 

EXHIBIT A

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