Document:

Exhibit 10.1

 

SEPARATION
AND CONSULTING
AGREEMENT AND MUTUAL
RELEASE

THIS
SEPARATION AND
CONSULTING
AGREEMENT
AND MUTUAL
RELEASE ("Agreement")
is made
and entered into,
effective as of
the 15th
day of October, 2015 (the
“Effective Date”), by
and between LiveXLive,
Corp. (f/k/a FestreamTV,
Corp.), a Delaware
corporation (“LiveXLive”
or the “Company”),
on the one
hand, and
Bulldog DM,
LLC, a
California limited
liability company
("Consulting Company"),
and John Petrocelli
(“John” and with
Consulting Company,
collectively, “Consultant”), on the
other hand. The
Company
and Consultant are
sometimes
referred to collectively as the “Parties”
and individually as a “Party”.
References to the Consultant herein shall be deemed
to be references to John and Consulting Company,
on a joint and several
basis.

 

R
E C I
T A L
S

 

WHEREAS,
Consulting Company
and
its principal,
John, are
experienced in
the online streaming
business;

 

WHEREAS,
LiveXLive desires
to retain
the services
of Consulting
Company to assist LiveXLive
with various aspects of its online
streaming
business;

 

WHEREAS,
Consulting Company
desires to
provide consulting
services for
the benefit of LiveXLive,
using the business
knowledge,
skills, experience
and abilities
of John to
perform the duties
and responsibilities as
set forth
on Schedule
“A” hereto
(the “Services”), subject
to the terms
and conditions of this Agreement;

 

WHEREAS,
Consulting Company,
as an independent
contractor,
is willing to provide
the Services
as are set
forth on Schedule
“A” hereto, subject
to the terms
and conditions of this Agreement;

 

WHEREAS,
John was previously
employed by the
Company,
pursuant to an Employment
Agreement, dated as of March 4,
2015 (the “Employment
Agreement”);

 

WHEREAS,
prior to
entering into
the Employment
Agreement, John
was engaged as an
independent contractor
of LiveXLive or
an affiliate
thereof,
pursuant to a Consulting
Services Agreement,
dated as
of December
15, 2014,
by and
between John
and Loton, Corp.,
a Nevada corporation
(the “Initial Agreement”);

 

WHEREAS,
the Parties wish
to terminate
John’s employment
with the Company and enter into
an independent contractor relationship; and

 

WHEREAS,
the Parties wish
to resolve any
disputes that existed
through and including the
Effective Date by entering into
the mutual release
provided for
herein;

 

    	 		 

     

    

 

NOW
THEREFORE, in
consideration of the
premises, and
on the mutual
promises, covenants,
agreements and
conditions contained
in this
Agreement,
the parties
hereto hereby agree as
follows:

 

1.            
Termination of Agreements.

 

1.1.           Termination  of  Employment;
Officer Resignation.John’s employment
with the Company shall terminate and John shall cease to be an employee or officer of the Company, effective as of the Effective
Date. John shall receive payment
for all salary earned but unpaid through the Effective Date. Furthermore, John hereby
resigns as an officer of the Company, effective
as of the
Effective Date.

 

1.2            Forfeiture
of Stock.As of the Effective Date, all unvested restricted common stock of Loton, Corp,
a Nevada corporation, owned by John shall be forfeited. The Parties acknowledge and agree
that none of the 500,000 shares of restricted common stock granted to John pursuant to the Restricted Stock Agreement (the
"Restricted Stock Agreement")
attached as
Exhibit A to the Employment
Agreement have vested and all such
shares are automatically forfeited
as of the Effective Date.

 

1.3.           TerminationandSupersessionofAgreements.The
Employment Agreement (except for Section 7(d) thereof) and the Restricted Stock
Agreement shall automatically terminate as of the Effective Date and be of no further force and effect, and neither the Company nor John shall have any further obligations thereunder; provided, however, that the Company shall have the obligation to pay the
accrued obligations set forth in
Section 1.1 above. For the avoidance of doubt, John shall
not be entitled to receive any Termination Benefits (as defined in the Employment
Agreement), including, without limitation, any severance pay, continued salary, benefits or
any other compensation under the Employment
Agreement. Additionally, all prior
independent contractor or consulting agreements between
Consultant and any of its
affiliates, on the one hand, and the Company or any of its affiliates,
on the other hand, including, without limitation,
the Initial Agreement, shall
automatically terminate as of the
Effective Date and be of no further force and effect, and neither the Company,
or any of its affiliates, nor Consultant,
or any of Consultant’s affiliates,
shall have any further
obligations under such agreements.

 

1.4.           Cooperation.John agrees that he shall cooperate with the Company, as reasonably requested and for a reasonable period of time, in connection
with his separation from the Company and the transition of his duties to any new or existing employee of the Company, including, without limitation,
taking all requested actions and executing all requested documents necessary to further the purpose of this
Agreement. If the Company is unable to secure John’s signature on any document
for this purpose following its reasonable efforts to do so within seven
(7) business days of such request by the Company, then John hereby irrevocably designates and appoints the Company
and its duly authorized officers and agents as John’s agent and attorney-in-fact, to act for and on John’s behalf and stead to
execute any documents and to do all other lawfully permitted acts
in connection with the foregoing;
provided, however, that in no event
does this power apply to any signature or action required on behalf of Consulting Company.

 

    	 	2	 

     

    

 

1.5.         
LimitationonAssignmentAgreementConsideration.
Consulting Company
hereby releases the
Company from
any
obligations arising
under Section 2
of the
Assignment
Agreement
dated March
4, 2015
between the
Company (f/k/a Festream
TV, Corp.) and
Bulldog DM, LLC
(the “Assignment
Agreement”). The Parties
agree
that as
of the
Effective Date,
the Assignment Agreement
shall lapse
and not be of
further force and
effect and that,
accordingly,
(i) the
Company
shall not
have any
obligation to
pay any
consideration under
the Assignment
Agreement or
assume any
of Consulting Company’s liabilities
(except as assumed
or paid for
prior to the
Effective Date), and that (ii) Consultant
shall not have any obligation to transfer any rights or interests
pursuant to the
Assignment
Agreement
or under
any one
or more
of the
Rights Agreements
(as defined in
the Assignment
Agreement).

 

2.            Consultant Services.Subject to
the terms and conditions of this
Agreement, LiveXLive hereby engages Consulting
Company to provide services to
LiveXLive as set forth on Schedule “A” hereto
(the "Services"). The parties hereto agree
and understand that Consulting Company
shall make John available to render the
Services to LiveXLive on behalf of Consulting
Company and that no one else shall
render such Services, without the express permission
of LiveXLive, which may
be given or withheld at the sole reasonable discretion of LiveXLive. Consultant represents that neither
John nor Consulting Company is subject to any preexisting
obligation or obligations inconsistent with
the provisions
of this Agreement.

 

3.             Right
of Control; Relationship of Parties. Consulting Company is an independent
contractor and, as such, shall have reasonable control over the means and manner by which the Services called for by this
Agreement, and as reasonably requested
by LiveXLive, are performed, consistent
with Section 8 hereof.

 

4.            Devotion
of Time; Non-Exclusive Engagement. Consulting Company
agrees to devote such time, on a part-time
basis, as may be required to the satisfactory
performance of the Services in accordance herewith. LiveXLive acknowledges that Consultant has a business separate and apart from the engagement
of Consultant hereunder, and that Consultant
shall be free
to conduct such business so long as
Consultant timely performs
Services required of it hereunder. Accordingly,
and without limitation, Consultant may render streaming business services, whether in the form of obtaining
sponsorships for festival right holders,
acquiring festival streaming rights
or as otherwise determined
by Consultant. Notwithstanding the preceding
terms of this
Section 4, Consulting Company
and John agree that neither it nor he will
take such action as would cause John to violate Section
7(d) of the Employment
Agreement.

 

5.            Place
to Render Services.Consulting Company shall perform the
Services at such location
or locations as Consulting Company deems
appropriate or necessary to the efficient
rendering of Services
after taking into consideration
the needs of LiveXLive.

 

    	 	3	 

     

    

6.            Compensation;
Expense Reimbursement.

 

6.1            Consultant
Fees. LiveXLive shall
pay, and Consulting Company
shall be entitled
to receive from LiveXLive, in exchange for consulting services,
fees in accordance with the fee schedule set forth as Schedule “B” hereto through the
Termination Date, as defined below.

 

6.2            No
Additional Benefits. Consulting Company is not, and shall
not be, eligible for any benefits provided by LiveXLive to its employees
(including, but not limited
to, sick pay, vacation, paid time
off, health insurance,
life insurance, worker's
compensation, disability insurance
or retirement plans).

 

6.3            Payment
of Business Expense.Consulting Company shall
be reimbursed
by LiveXLive for reasonable out-of-pocket expenses actually incurred and paid by Consulting Company, consistent with the rendering of the Services to LiveXLive,
as provided for in this Agreement, upon presentation of appropriate documentation for
such expenses; provided, however, that Consultant
shall not
incur any expenses in excess of Five Hundred Dollars ($500.00) without the prior written consent of LiveXLive or its
authorized agents. Consulting Company shall
be responsible for all normal
overhead expenses of operating its consulting business. 

 

7.            Duration
of Consulting Services; Termination.

 

7.1           Duration
of Consulting Services. The obligations
under Sections 2 through 6 hereof, inclusive, shall be deemed
effective as of the Effective Date set forth
on the initial
page of this Agreement
and shall end on such date as provided
in Section 7.2 hereof (the "Termination Date").

 

7.2
           Termination.

 

  a.                  Termination
By LiveXLive.LiveXLive may terminate
the consulting relationship, at any time
(whether prior to or after completion of the
Services) and for any reason, by providing Consulting Company with not less than
twenty (20) days’ advance written notice; provided, however, that LiveXLive may
terminate the consulting relationship in the event
that Consulting
Company is in breach
of this Agreement and does not cure the breach within five (5) business
days of its receipt
of written notice from
LiveXLive setting forth the grounds for the breach and what must
be done to cure the breach.

 

  b.                  Termination
By Consulting Company.Consulting Company may terminate
the consulting relationship, at any time
(whether prior to or after
completion of the Services) and for any reason, by providing LiveXLive with not less than twenty (20) days’ advance written notice;
provided, however, that Consulting
Company may terminate the consulting relationship in the event that LiveXLive is in
breach of this Agreement and does not cure the breach within five (5) business days of its
receipt of written notice from Consulting Company setting forth the grounds for the breach
and what must be done to cure the breach.

 

    	 	4	 

     

    

 

In
the event
of any termination
in accordance
with this Section
7.2, Consulting Company
shall
be paid for
Services rendered
through the date
of termination.
In the event of termination, all
other provisions of
this Agreement
shall survive.

 

8.            
Independent Contractor.

 

8.1            Nature
of Relationship.Consulting Company
is retained hereunder as an independent
contractor
of LiveXLive. Consulting Company shall
determine the method, details, and means
of performing the Services. Consulting
Company is not an agent or employee
of LiveXLive and, as such, is not authorized to act
on behalf of LiveXLive unless specifically required to do so under this Agreement.
Consulting Company will also maintain Consulting Company’s
own records and bookkeeping concerning the Services and expenses pertaining to
this engagement. Nothing in this Agreement
shall constitute
or be construed as constituting
or establishing any partnership or joint venture between the parties
hereto for any purpose
whatsoever.

 

8.2            Responsibility
for Taxes. Consultant shall be responsible for, and
Consultant represents and warrants that Consultant shall make,
payment of all taxes due
based on compensation paid hereunder, whether such taxes are owed to the United States
federal government, the State of California, any local taxing authority within the State of
California, or otherwise. Consultant shall pay, when and as due, any and all taxes
incurred as a result of Consultant’s
compensation hereunder, including estimated
taxes. Consultant, and not the Company,
shall be responsible for determining what taxes are
owed, when they are due and
the entity to which they are payable. Consultant understands
and agrees that the Company shall not be subject to withholding or other
tax obligations with respect thereto. Consultant
shall indemnify and hold the Company,
and its officers, directors, shareholders, members,
managers and employees harmless
from any tax liability, including penalties
and interest, assessed against or charged to the
Company by any taxing authority due to services rendered by Consultant under the terms of
this Agreement. Consultant shall indemnify the Company
for any claims,
losses, costs, fees, liabilities,
damages or injuries suffered by
the Company arising out of Consultant’s breach
of this Section 8.

 

9.             Indemnification.

 

9.1           Indemnification
by Consultant. Consultant will indemnify, hold
harmless, and defend the Company
and its respective affiliates, officers, directors,
partners, members, managers, shareholders, employees and agents from and against
the losses, claims,
damages or liabilities (or actions in respect thereof) (“Covered
Claims”) arising out of or
relating to (i) any breach by
Consultant of any representation, warranty or agreement
contained in this Agreement,
or (ii) any willful
misconduct, bad faith or gross negligence by Consultant in the performance
of, or failure to perform, its obligations under this Agreement, except to
the extent that any such Covered
Claim is caused by the Company’s breach of this Agreement or willful
misconduct, bad faith or gross negligence in the performance of, or failure to perform, its obligations under
this Agreement.

 

    	 	5	 

     

    

 

9.2            Indemnification
by the Company.TheCompanywill indemnify,
hold harmless, and defend Consultant and its affiliates, officers, directors,
partners, members,
shareholders, employees
and agents from and against any
Covered Claims arising out of or relating to (i) the conduct of the Company’s business, whether before or after the Effective Date, (ii) any breach by the Company of any representation, warranty or agreement contained in this Agreement, (iii) any willful misconduct,
bad faith or gross negligence
by the Company in the performance or failure
to perform,
its obligations under this
Agreement, except to the extent
that any such Covered Claim is
caused by Consultant's breach of this
Agreement or willful misconduct,
bad faith or gross negligence
in the performance of, or failure to
perform, its obligations under this Agreement or (iv) any violation of securities laws or any other law
pertaining
to the dissemination
of information
to the public as it concerns the
Company or any affiliate thereof.

 

9.3           
Indemnification Procedures.
Promptly
after
receipt of
notice of any
Covered Claim with
respect to which
an indemnified
party is entitled
to seek indemnification
hereunder, the indemnified
party  will  notify
 the
other party
or parties,
as the case
may be,
in writing of
such Covered
Claim. The
indemnifying party
(or parties, as the case may be) shall be given a reasonable
opportunity to
defend the same at its (or their) expense
and with counsel of its (or their) selection; provided, however, that the indemnified
parties, and each of them, shall
at all times also have the right to fully
participate in the defense at his and/or
its and/or their own expense. If the indemnifying
party (or parties)
shall fail to
defend, within a
reasonable time
after its
receipt of
notice to
defend hereunder, then
the indemnified
party or parties
shall have the
right, but not
the obligation, to undertake
the defense of,
and to compromise
or settle (with
the exercise of reasonable business
judgment), the claim or other matter on
behalf, for the account, and at the
risk, of the
indemnifying party
or parties.

 

10.         
Confidentiality; Trade Secrets.

 

10.1          Confidential Information. LiveXLive
owns and has developed
and compiled, and will develop and compile,
certain trade
secrets, proprietary
techniques and confidential information that has great value to its business (referred to in this
Agreement collectively as “Confidential
Information”).
Confidential Information
includes not only information disclosed by LiveXLive to Consultant, but also
information developed or learned by Consultant during the course of Consultant’s engagement
hereunder, information developed or learned by John during the course of his
employment with the Company,
and information
developed or learned
by John or any
affiliate during
the course of his or its engagement as an independent contractor of the
Company in the past, including, without limitation,
pursuant to the Initial Agreement. Confidential
Information includes
all information that has or could have commercial value
or other utility in the business in which LiveXLive is engaged, and all
information of which the unauthorized disclosure could be detrimental
to the interests
of LiveXLive, whether or not such information is identified as Confidential
Information by LiveXLive. Consultant will not, directly or
indirectly, use, make available,
sell, disclose or otherwise
communicate to any third party, other than in Consultant’s assigned duties under this Agreement
and for the benefit of LiveXLive, any of the Confidential Information,
either during or after Consultant’s engagement hereunder.
Consultant acknowledges that Consultant is aware that the unauthorized
disclosure of Confidential Information may
be highly prejudicial
to the Company’s interests,
an invasion of privacy, and an improper
disclosure of
trade secrets.

 

    	 	6	 

     

    

 

 

10.2         
Limitations  Concerning 
Consultant’s  Obligations.The
obligations imposed upon Consultant
hereunder shall not apply to Confidential
Information
which is:
(i) or
becomes generally
available to
the public
or which
is or
becomes common
industry
knowledge through
no wrongful
act of
Consultant; (ii)
already lawfully
in the
possession of
Consultant,
as evidenced
by written
documentation,
and
not subject to
an existing agreement
of confidentiality
between the parties;
(iii) received from
a third party
without restriction
and without
breach of
this Agreement;
orreleased pursuant
to the
binding order
of a government
agency
or a
court
so long
as prior
to any
such release
the Consultant
provides
LiveXLive
with the
prompt
notice to
reasonably enable
the Company
to seek
a protective
order or
such other
remedy
as may
be available
under the
circumstances.

 

10.3         Terms
Supersede Those in Other Agreements.The
terms of this Section 10 shall supersede
and replace, in their entirety, any and all nondisclosure
provisions set forth
in the Initial Agreement
or the Employment
Agreement.

 

11.          
Mutual Release.

 

Except for such rights and
obligations as have been
created under this
Agreement, it is understood and agreed by the Company,
on the one
hand, and Consultant,
on the other hand,
that in consideration
of the mutual promises and
covenants contained in
this Agreement, and after consultation with
counsel or
the opportunity to
consult with counsel, the
Company irrevocably
and unconditionally releases and
forever discharges Consultant and each
of them,
including their respective
attorneys, current
and former
spouses, children, officers,
directors, employees,
partners, affiliates, members,
managers, shareholders,
agents, representatives, insurers,
heirs, successors and assigns (collectively, the “Consultant Released Parties”),
from any
and all causes
of action, claims,
actions, rights, judgments,
obligations, damages,
demands, accountings or liabilities
of whatever kind or character (collectively, “Claims”),
which the Company, or any one or more
of them, may
have against any
one or more
of the Consultant Released
Parties, for any matters
arising out of, touching upon or concerning John's employment
with or separation from the Company, the Employment
Agreement,
the Initial Agreement,
and/or the Assignment Agreement.
The Company further
agrees that
the Consultant
Released Parties, and each
of them,
shall be released
from any restriction on their ability
to do business, except as otherwise
provided in Section 7(d) of the Employment
Agreement.

 

    	 	7	 

     

    

 

Except for such rights and
obligations as have been
created under this
Agreement, it is understood and agreed by Consultant that
in consideration of the mutual promises
and covenants contained
in this Agreement,
and after consultation with counsel
or the opportunity to
consult with counsel,
Consultant, and each
of them, irrevocably and unconditionally
releases and forever
discharges the Company
and its attorneys,
managers, members,
officers, directors, employees,
partners, affiliates,
shareholders,
agents, representatives, insurers, heirs,
successors and
assigns (collectively, the “Company
Released Parties”), from
any and all
Claims that Consultant, or either
of them, may have against any one or more
of the Company Released
Parties, for any matters arising out of, based
upon or concerning,
John's employment
with or separation from the Company,
the Employment Agreement,
the Initial Agreement,
and/or the Assignment Agreement (the
“Released Claims”) other than
for salary due to John for services rendered under the Employment
Agreement through the day immediately
preceding the Effective Date and any documented
out-of-pocket expense reimbursement
due to John,
consistent with the terms
of the Employment Agreement
and applicable California law. For the avoidance of doubt, the "Released Claims"
include, without limitation,
any claim which
John may have
under the Age
Discrimination in
Employment Act, Title VII of
the Civil Rights
Act, as amended, the California Fair Employment
and Housing Act, the Americans with Disabilities
Act, the Family
and Medical Leave Act,
the California Labor
Code, the California Government
Code, the Worker Adjustment
and Retraining
Notification Act (“WARN”), or any other federal,
state or local
law or regulation
affecting employment
rights or prohibiting employment
discrimination, any
alleged breach of
any express
or implied contract of employment,
any alleged torts, including
any claim for
intentional or negligent infliction
of emotional distress, wrongful discharge,
violation of any
public policy or statute,
or any policy
of the Company
or any remedy for any such claim or breach,
any claim for
wages, compensation,
vacation pay, sick
pay, compensatory
time, commissions,
benefits and all
remedies of any type, including
but not limited to, damages and
injunctive relief, in
any action that may
be brought on John’s behalf against the Company
and/or the Company Released Parties by
any government
agency or other person.

 

Each
of the Company,
John and Consulting
Company
specifically waives any benefit
of the provisions
of Section 1542
of the California
Civil Code, which
states as follows:

 

"A
general release does
not extend
to claims
which the creditor
does not know
or suspect
to exist
in his
or her
favor at
the time
of executing
the release,
which if
known by him
or her must
have materially
affected his or
her settlement with the debtor."

 

It is understood by each of the Parties hereto
that claims may exist in his or its
favor against some
person or entity released
as provided in this Agreement which are not
presently known, suspected or understood by the Party, and which, if known, suspected
or understood by the Party would have materially affected the existence, form
or extent of the releases provided for in this Agreement. Each Party hereto assumes
the risk of the
discovery of such claims subsequent to the execution by such Party of this Agreement.
The Parties hereto agree that the
releases set forth
in this Agreement shall be in all
respects effective and not subject to termination,
rescission, alteration or reformation
as a result of or in connection with any such subsequently discovered
facts or claims. In the event that any waiver of the provisions of Section 1542
of the California Civil Code provided in this Agreement
should be judicially determined to
be invalid, voidable or unenforceable, for any reason, such waiver to that extent
shall be severable from the remaining
provisions of this Agreement,
and the invalidity, voidability
or unenforceability of the waiver shall not affect the validity, effect, enforceability
or interpretation
of the remaining provisions of this Agreement.

 

    	 	8	 

     

    

 

The
Company,
on the one
hand, and Consultant,
on the other
hand, represent to the
other that there
has been no
assignment or
other transfer of
any interest in
any claims that the Party making
the representation may have against the
other Party. The Company, on
the one hand,
and Consultant, on
the other hand,
represent to the
other that there
is no pending litigation
or claim pending
in a court
or other judicial
forum that
is subject
to the terms
of the release
set forth
herein. In
the event
of a
breach of
this representation,
the breaching
Party agrees
to indemnify
and hold
the other
non-breaching
Parties harmless from any liabilities,
claims, demands,
damages, costs, expenses and
attorneys' fees reasonably incurred by the other non-breaching
Parties as a result of any claimed assignment
or transfer of
such interest.

 

12.          Intellectual
Property.

 

12.1.       
 If, during the
engagement
by Company
of Consulting Company, Consultant,
specific to,
and for
the sole
purpose of
the scope
of the
engagement
hereunder, creates, invents,
designs, develops, contributes
to or improves
any works of authorship,
inventions, intellectual property,
materials, documents
or other
work product
(including, without limitation,
research, reports,
software, databases, systems,
applications, presentations,
textual works,
content, or audiovisual
materials) (“Works”),
either alone
or with third
parties, within
the scope
of such engagement
(collectively, the “Company Works”),
Consultant shall
promptly and
fully disclose
same
to the Company
and hereby irrevocably
assigns, transfers
and conveys,
to the maximum
extent permitted
by applicable law, all rights and intellectual property rights
in such Company
Works (including rights
under patent,
patent applications, industrial property, copyrights, copyright
registrations, trademarks, trade secrets,
unfair competition and related laws, and the right to prosecute and recover damages
for all past, present and future infringements or other violations
of the Company Works) to the Company
to the extent ownership of any such rights
does not vest originally in the Company. The Parties further agree and acknowledge
that Works do not include intellectual property rights unless they are
not created
specifically and for the
sole purpose of
a scope of
work performed hereunder during the course
of Consulting Company’s
engagement hereunder.

 

12.2.        Consultant understands
and agrees that (i) to the extent permitted
by law, all Company Works that are made by Consultant (solely or jointly with others)
shall be deemed a “work made for hire” within the meaning of that term under United States Copyright Act, 17 U.S.C. §§ 101 et seq., as amended or superseded, (ii) the
Company shall be deemed the exclusive author of such Company Works and the
exclusive owner of all rights, title and interest in and to such
Company Works
in any and
all media, languages, territories and jurisdictions throughout the world, now
known or hereafter devised and (iii) Consultant is compensated
for such Company Works by the
consulting payments hereunder. Consultant hereby assigns and transfers to the Company, effective
with respect to each item of the Company
Works, as of the date of its creation, any
and all rights, title and interest Consultant may
have or may acquire in and to the Company
Works (including any item of the Company Works
not deemed, for whatever reason, to have been created as a work made
for hire), in any and all media, languages, territories and jurisdictions
throughout the world, now known or hereafter devised, including any and all patents, patent applications, copyrights,
copyright registrations, trade secrets and other
intellectual property rights in the Company
Works, and the right to prosecute and recover damages for all past, present and future
infringements or other violations of the Company
Works. Furthermore, Company shall have the unrestricted right
to use, display, publish, perform, record,
copy, broadcast, transmit, distribute, augment,
subtract from, modify,
distort, translate, transfer, combine
with other information or materials,
create derivative
works based on, sell, or otherwise
exploit for any purpose, the Company
Works and any portion thereof, in any manner or media throughout the world, as the Company may
in its sole discretion determine. Consultant hereby irrevocably
waives and assigns
to the Company any and all so-called moral rights
or “droit moral” Consultant may
have in or with respect to any item of the Company Works. Notwithstanding the
foregoing, nothing contained herein
will require the Company to exercise
or exploit any of the Company’s rights
in or to the Company Works.

 

    	 	9	 

     

    

 

12.3.        
Consultant shall take
all requested
actions and execute
all requested documents
(including any licenses
or assignments
required by a
government contract) at
the Company’s
expense (but without
further remuneration)
to assist
the Company in
validating, maintaining,
protecting, enforcing,
perfecting,  recording,
patenting or
registering any
of the
Company’s
rights in the
Company Works.
If the Company
is unable to
secure Consultant’s signature
on any document
for this purpose following
its reasonable efforts
to do so
within seven (7)
business days of
such request by the
Company, then
Consultant hereby irrevocably
designates and appoints
the Company and its
duly authorized
officers and agents
as Consultant’s agent
and attorney-in-fact,
to act for and on Consultant’s behalf and
stead to execute any documents
and to do
all other lawfully permitted
acts in connection with the foregoing.

 

12.4.       
Subject to the
requirements of
applicable state law,
if any, Consultant understands
that the Company
Works
will not include,
and the provisions
of this Agreement
requiring
assignment of
Works
to the Company
do not apply
to, any Works which
qualify fully for
exclusion under the
provisions of applicable
state law, if
any, attached hereto
as Exhibit B.

 

12.5.       
The provisions of
this Section 12
shall survive
termination of Consultant's
relationship with
Company
for
any reason, including,
without limitation,
the termination of this Agreement.

 

    	 	10	 

     

    

 

13.          
Notices. All notices
or other communications
required or
permitted by this
Agreement or
by law to
be given by
any party
hereto shall be
in writing. All
such notices and communications
shall be deemed
duly served
and given to
the other party: when
delivered by
hand, if
personally delivered;
when delivered
by air
courier, messenger
or other courier,
if so delivered,
when receipt
is acknowledged,
if faxed or emailed;
and five (5)
calendar days after
mailed,
if sent by
registered or certified mail
with return receipt. For purposes hereof,
notices and other communications
hereunder shall be directed
to the parties hereto at the following
addresses:

 

		(a)	To
Consultant:
	 	 	 
	 	 	Bulldog DM, LLC
	 	 	1236 S. Sierra Bonita Ave
	 	 	Los Angeles, CA 90019
	 	 	 
	 	 	Attn: John Petrocelli
	 	 	Tel: 310.968.1414
	 	 	Email: john@bulldogdm.com

 

		(b)	To the
Company:
	 	 	 
	 	 	LiveXLive, Corp.
	 	 	269 S. Beverly Drive
	 	 	Suite 1450
	 	 	Beverly Hills, California 90212
	 	 	 
	 	 	Attn: Rob Ellin
	 	 	Tel: 310.529.2500
	 	 	Email: rellin@trinadcapital.com

 

Any
party hereto
may change
his or
its address
for the purpose
of receiving
notices and
other communications as
herein provided
by a written
notice given
in the manner
aforesaid to the
other party or
parties hereto.

 

14.          Applicable  Law/Venue;
Jurisdiction.This Agreement shall, in all
respects, be construed, interpreted and enforced in accordance with and governed by the
internal substantive laws of the State of California
applicable to agreements
executed and to be wholly performed
within the State of California, without regard to choice of law
rules thereof.
Each party submits
to the in personam jurisdiction
of the State of California.
Proper venue for any litigation or arbitration
concerning this Agreement shall
be in Los Angeles County, California.

 

    	 	11	 

     

    

 

15.          Dispute
Resolution.

 

15.1.        
Arbitration. The
Company
and Consultant agree
that any dispute,
disagreement, controversy
or claim
arising out
of or
relating to
this Agreement
or the interpretation
of this Agreement
or any arrangements
relating to
this Agreement
or contemplated in
this Agreement
or the breach,
termination or
invalidity thereof shall
be settled by final
and binding arbitration
administered
by JAMS in Los
Angeles, California in accordance
with the
JAMS Comprehensive
Arbitration Rules &
Procedures then
in effect. Arbitration
shall be
by a single
arbitrator chosen by the
parties; provided that,
if the parties
fail to
agree
and to
appoint a
single arbitrator
within
fifteen (15)
calendar days
from the date a party has made a
demand for arbitration, then the arbitrator
shall be chosen in
accordance with JAMS
rules then
in effect. Except
as provided
herein, the
Federal Arbitration
Act shall
govern the
interpretation, enforcement
and all arbitration proceedings.

 

15.2.        
Waiver of Jury
Trial. By submitting
a dispute
to arbitration,
the parties hereto
understand that
they will not enjoy
the benefits of a jury
trial. Accordingly, the parties
hereto expressly
waive the
right to
a jury trial.

 

15.3.        
Nonexclusive  Remedy.The
arbitration requirement
does not prohibit a
Party from exercising
his or its
right to pursue
injunctive relief or
other provisional remedies
provided under the
law in any
court having competent
jurisdiction.

 

16.          Severability. Any provision
in this
Agreement that
is illegal,
invalid or
unenforceable in
any jurisdiction shall,
as to such
jurisdiction, be
ineffective to the
extent of such illegality,
invalidity or
unenforceability
without invalidating the
remaining provisions hereof
or affecting the
legality, validity
or enforceability
of such
provision in
any other jurisdiction.
The Parties hereto
agree to
negotiate in good
faith to replace
any illegal, invalid or
unenforceable
provision
of this Agreement
with a legal,
valid and enforceable provision
that, to
the extent
possible,
will preserve the
economic
bargain of this Agreement,
or otherwise
to amend
this Agreement,
including the provision
relating to choice of law, to achieve
such result.

 

17.          Modification
or Amendment. No amendment,
change or modification of this Agreement shall
be valid unless
in writing and signed by all of the Parties hereto.

 

18.          Successors
and Assigns. No Party may assign, transfer, or pledge this
Agreement or any rights under this Agreement
or the performance
of any obligation arising under this Agreement,
without the prior
written consent of each of the Parties
hereto, which consent shall not be unreasonably withheld. All of the terms and
provisions contained herein shall
inure to the benefit of and shall be binding upon the
Parties hereto, their respective
heirs, personal
representatives, permitted assigns and
successors in interest.

 

19.      
   Entire Agreement.This document,
along with the Schedules and
Exhibits attached
hereto, constitutes
the entire understanding
and agreement of
the parties with respect
to the subject matter of this Agreement, and any and all prior agreements,
understandings or representations are
hereby terminated and canceled
in their entirety and are of no further force or effect.

 

    	 	12	 

     

    

 

20.         
Remedies.In the event
of any dispute
arising hereunder with respect to any of
the obligations which
have been performed
or which are
to be performed
hereunder or otherwise,
the Company
or Consultant, as
the case may
be, may
pursue, in addition
to any
rights specifically
granted hereunder,
any and
all legal
rights available
and at any
time may
seek such equitable
remedies as
are available or
necessary to pre- serve
the rights granted
hereby, it
being understood
that remedies
hereunder shall be deemed
cumulative and not
exclusive. In particular, Consultant
acknowledges that irreparable injury will
result to the Company if Consultant,
or either of them,
violates and continues to
violate any
of the
terms of
this Agreement
relating to
confidentiality
or intellectual property, and that the Company can
not be adequately compensated therefor by money
damages. Consultant expressly agrees
that the
Company shall be entitled,
in addition to damages and any other remedies
provided by law, to an injunction or
other equitable remedy respecting any such violation
by Consultant, or either of them.

 

21.         
Waiver.The waiver
by a
Party of
a breach
or any provision
of this Agreement
by another Party
or Parties
shall not
operate or
be construed
as a
waiver of
any subsequent breach of the same provision or any other provision of this Agreement.

 

22.          Advice
of Counsel/Time to Consider Agreement.John expressly acknowledges that he has been represented by counsel in connection with negotiation of
this Agreement. The Parties have read this Agreement
completely, and have had the
opportunity to seek the advice and assistance
of counsel. Accordingly, the language
contained within and comprising this Agreement shall not be construed in favor of or against any one party on the grounds that the party drafted the Agreement. John
represents and agrees that
he fully understands all provisions
of this Agreement,
and that he fully understands his right to discuss all provisions
and aspects of this Agreement with his attorney. John further represents and
agrees that he has carefully read and fully understands all the terms and
provisions of this Agreement, and that he is voluntarily entering into this
Agreement. John acknowledges and agrees that he has been given
a period of at least
twenty-one (21) days within which to consider this Agreement
and that he may accept and execute
this Agreement at any time
within said twenty-one (21) day period. John further acknowledges, understands and agrees that for
a period of seven (7) days
following the date he executes this Agreement, he may revoke this Agreement in
writing. John understands that he will
neither receive nor be entitled to
the payments and compensation
set forth in this Agreement unless he accepts and executes this Agreement,
and the seven (7) day revocation period has expired, at which
time this Agreement is final
and otherwise non-revocable.

 

23.          
Counterparts.This Agreement
may be executed
in multiple
original counterparts,
each of which
shall be
deemed an
original, but
all of which
together shall constitute one
and the same instrument.

 

    	 	13	 

     

    

 

24.           Further
Acts. Each Party to this Agreement agrees to execute
and deliver all documents and to perform all further acts and to take any and all further steps that may be reasonably necessary to carry out the provisions of this Agreement and the transactions contemplated hereby.

 

 

 

 

 

IN
WITNESS WHEREOF, the
parties hereto have
executed this Agreement
the day and
year first above
written.

 

	 	Bulldog DM, LLC
	 	 	 
	 	By:	 
	 	 	John Petrocelli, Manager
	 	 	 
	 	 
	 	John Petrocelli, an individual
	 	 	 
	 	 	 
	 	LiveXLive, Corp.
	 	 	 
	 	By:	 
	 	 	Rob Ellin, Founder & Chairman

 

 

    	 	14	 

     

    

Schedule “A”

 

SERVICES

 

 

 

John Petrocelli, acting on behalf of Bulldog
DM, LLC (“Consultant”),
agrees to perform the following
Services for the benefit of Consultant, and LiveXLive agrees to pay Consultant
compensation for
such Services as
provided in Schedule
B hereto.

 

Services to
be rendered: Consultant
shall provide
to LiveXLive multi-year
digital
rights aggregation consulting
services for live streamed
music festival.

 

Schedule “B”

 

CONSULTANT
FEE SCHEDULE

 

Consultant
shall be paid
by LiveXLive a
monthly consulting fee in the amount
of Twelve Thousand Five Hundred
Dollars ($12,500), payable
semi-monthly on the
sixteenth (16th)
day of the month and the last day of the month. If the scheduled date for payment
is a holiday or weekend
day, then payment
shall be due on the following business day.

 

    	 	15	 

     

    

 

Exhibit "A"

 

Restricted
Stock Agreement

 

 

 

 

    	 	16	 

     

    

 

 

Exhibit "B"

 

Section 2870 of the California Labor Code is as follows:

 

(a)            Any provision in
an employment
agreement which
provides that an employee
shall assign, or
offer to assign,
any of his
or her rights
in an invention
to his or her
employer shall
not apply to
an invention that
the employee
developed entirely on
his or her own
time without
using the employer’s
equipment, supplies,
facilities, or trade secret information
except for those inventions
that either:

 

(1)           
Relate at
the time
of conception or
reduction to
practice
of the invention to
the employer’s
business, or actual
or demonstrably
anticipated research or development
of the employer; or

 

(2)            Result from any work performed by the
employee for the employer.

 

(b)           To
the extent
a provision
in an employment
agreement purports to require
an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a),
the provision is against the
public policy
of this state
and is unenforceable.

 

 

17EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 LOAN
AND SECURITY AGREEMENT 
 By and among 

DENT-A-MED INC. 

DENT-A-MED RECEIVABLES CORPORATION 

HC RECOVERY, INC. 
 as
Borrowers 
  
  

WELLS FARGO PREFERRED CAPITAL, INC. 

as Agent 
  

 
 Each of the
financial institutions 
 now or hereafter a party hereto 

as Lenders 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
		
	 ARTICLE 1 DEFINITIONS
	  	 	1	  
		 	 Section 1.1
	  	 Certain Definitions
	  	 	1	  
		 	 Section 1.2
	  	 Rules of Construction
	  	 	13	  
		
	 ARTICLE 2 THE REVOLVING CREDIT FACILITY
	  	 	14	  
		 	 Section 2.1
	  	 The Loan
	  	 	14	  
		 	 Section 2.2
	  	 The Notes
	  	 	15	  
		 	 Section 2.3
	  	 Method of Payment
	  	 	15	  
		 	 Section 2.4
	  	 Extension and Adjustment of Maturity Date
	  	 	15	  
		 	 Section 2.5
	  	 Use of Proceeds
	  	 	15	  
		 	 Section 2.6
	  	 Interest
	  	 	15	  
		 	 Section 2.7
	  	 Advances
	  	 	16	  
		 	 Section 2.8
	  	 Prepayment
	  	 	19	  
		 	 Section 2.9
	  	 Fees
	  	 	19	  
		 	 Section 2.10
	  	 Regulatory Changes in Capital Requirements; Replacement of a Lender
	  	 	20	  
		 	 Section 2.11
	  	 Sharing of Payments
	  	 	21	  
		 	 Section 2.12
	  	 Pro Rata Treatment
	  	 	21	  
		 	 Section 2.13
	  	 Accordion Facility
	  	 	21	  
		
	 ARTICLE 3 SECURITY
	  	 	22	  
		 	 Section 3.1
	  	 Security Interest
	  	 	22	  
		 	 Section 3.2
	  	 Financing Statements
	  	 	22	  
		 	 Section 3.3
	  	 Collateral Requirements
	  	 	22	  
		 	 Section 3.4
	  	 Collections
	  	 	23	  
		 	 Section 3.5
	  	 Additional Rights of Agent; Power of Attorney
	  	 	23	  
		 	 Section 3.6
	  	 Additional Collateral Provisions
	  	 	24	  
		
	 ARTICLE 4 REPRESENTATIONS AND WARRANTIES
	  	 	25	  
		 	 Section 4.1
	  	 Representations and Warranties as to Receivables
	  	 	25	  
		 	 Section 4.2
	  	 Organization and Good Standing
	  	 	26	  
		 	 Section 4.3
	  	 Perfection of Security Interest
	  	 	26	  
		 	 Section 4.4
	  	 No Violations
	  	 	26	  
		 	 Section 4.5
	  	 Power and Authority
	  	 	26	  
		 	 Section 4.6
	  	 Validity of Agreements
	  	 	26	  
		 	 Section 4.7
	  	 Litigation
	  	 	27	  
		 	 Section 4.8
	  	 Compliance
	  	 	27	  
		 	 Section 4.9
	  	 Accuracy of Information; Full Disclosure
	  	 	27	  
		 	 Section 4.10
	  	 Taxes
	  	 	27	  
		 	 Section 4.11
	  	 Indebtedness
	  	 	28	  
		 	 Section 4.12
	  	 Investments
	  	 	28	  
		 	 Section 4.13
	  	 ERISA
	  	 	28	  
		 	 Section 4.14
	  	 Hazardous Wastes, Substances and Petroleum Products
	  	 	28	  

  
 i 

									
		 	 Section 4.15
	  	 Solvency
	  	 	28	  
		 	 Section 4.16
	  	 Business Location
	  	 	29	  
		 	 Section 4.17
	  	 Capital Stock
	  	 	29	  
		 	 Section 4.18
	  	 No Extension of Credit for Securities
	  	 	29	  
		 	 Section 4.19
	  	 Anti-Terrorism Laws
	  	 	29	  
		
	 ARTICLE 5 CONDITIONS TO LOAN
	  	 	30	  
		 	 Section 5.1
	  	 Documents to be Delivered to Agent Prior to Effectiveness
	  	 	30	  
		 	 Section 5.2
	  	 Conditions to all Advances
	  	 	32	  
		
	 ARTICLE 6 AFFIRMATIVE COVENANTS
	  	 	32	  
		 	 Section 6.1
	  	 Place of Business and Books and Records
	  	 	33	  
		 	 Section 6.2
	  	 Reporting Requirements
	  	 	33	  
		 	 Section 6.3
	  	 Books and Records
	  	 	33	  
		 	 Section 6.4
	  	 Financial Covenants
	  	 	34	  
		 	 Section 6.5
	  	 Compliance With Applicable Law
	  	 	35	  
		 	 Section 6.6
	  	 Notice of Default
	  	 	35	  
		 	 Section 6.7
	  	 Existence, Properties
	  	 	35	  
		 	 Section 6.8
	  	 Payment of Indebtedness; Taxes
	  	 	35	  
		 	 Section 6.9
	  	 Notice Regarding Any Plan
	  	 	36	  
		 	 Section 6.10
	  	 Other Information
	  	 	36	  
		 	 Section 6.11
	  	 Litigation
	  	 	36	  
		 	 Section 6.12
	  	 Business Location, Legal Name and State of Organization
	  	 	36	  
		 	 Section 6.13
	  	 Operations
	  	 	37	  
		 	 Section 6.14
	  	 Credit Card Agreement and Sale Agreement
	  	 	37	  
		 	 Section 6.15
	  	 Further Assurances
	  	 	37	  
		
	 ARTICLE 7 NEGATIVE COVENANTS
	  	 	37	  
		 	 Section 7.1
	  	 Payments to and Transactions with Affiliates
	  	 	37	  
		 	 Section 7.2
	  	 Restricted Payments
	  	 	37	  
		 	 Section 7.3
	  	 Indebtedness
	  	 	38	  
		 	 Section 7.4
	  	 Guaranties
	  	 	38	  
		 	 Section 7.5
	  	 Nature of Business
	  	 	38	  
		 	 Section 7.6
	  	 Negative Pledge
	  	 	38	  
		 	 Section 7.7
	  	 Investments
	  	 	38	  
		 	 Section 7.8
	  	 Compliance with Formula
	  	 	38	  
		 	 Section 7.9
	  	 Acquisitions
	  	 	38	  
		 	 Section 7.10
	  	 Use of Proceeds
	  	 	38	  
		 	 Section 7.11
	  	 Amendment to Subordinated Debt
	  	 	38	  
		 	 Section 7.12
	  	 Credit Card Agreements and Sale Agreements
	  	 	38	  
		 	 Section 7.13
	  	 Senior Management
	  	 	38	  
		 	 Section 7.14
	  	 Bulk Purchases
	  	 	39	  
		
	 ARTICLE 8 EVENTS OF DEFAULT
	  	 	39	  
		 	 Section 8.1
	  	 Failure to Make Payments
	  	 	39	  
		 	 Section 8.2
	  	 Information, Representations and Warranties
	  	 	39	  
		 	 Section 8.3
	  	 Covenants and Agreements
	  	 	39	  
		 	 Section 8.4
	  	 Collateral
	  	 	39	  

  
 ii 

									
		 	 Section 8.5
	  	 Defaults Under Other Agreements
	  	 	39	  
		 	 Section 8.6
	  	 Certain Events
	  	 	39	  
		 	 Section 8.7
	  	 Possession of Collateral
	  	 	40	  
		 	 Section 8.8
	  	 Credit Documents
	  	 	40	  
		 	 Section 8.9
	  	 Hedging Agreements
	  	 	40	  
		 	 Section 8.10
	  	 Material Adverse Change
	  	 	40	  
		
	 ARTICLE 9 REMEDIES OF AGENT AND WAIVER
	  	 	40	  
		 	 Section 9.1
	  	 Agent’s Remedies
	  	 	40	  
		 	 Section 9.2
	  	 Waiver and Release by Borrowers
	  	 	41	  
		 	 Section 9.3
	  	 No Waiver
	  	 	41	  
		 	 Section 9.4
	  	 Application of Proceeds
	  	 	41	  
		
	 ARTICLE 10 MISCELLANEOUS
	  	 	42	  
		 	 Section 10.1
	  	 Indemnification and Release Provisions
	  	 	42	  
		 	 Section 10.2
	  	 Amendments
	  	 	43	  
		 	 Section 10.3
	  	 APPLICABLE LAW
	  	 	44	  
		 	 Section 10.4
	  	 Notices
	  	 	44	  
		 	 Section 10.5
	  	 Termination and Release
	  	 	45	  
		 	 Section 10.6
	  	 Counterparts
	  	 	45	  
		 	 Section 10.7
	  	 Costs, Expenses and Taxes
	  	 	45	  
		 	 Section 10.8
	  	 Participations and Assignments
	  	 	46	  
		 	 Section 10.9
	  	 Effectiveness of Agreement
	  	 	48	  
		 	 Section 10.10
	  	 JURISDICTION AND VENUE
	  	 	48	  
		 	 Section 10.11
	  	 WAIVER OF JURY TRIAL
	  	 	48	  
		 	 Section 10.12
	  	 REVIEW BY COUNSEL
	  	 	48	  
		 	 Section 10.13
	  	 Exchanging Information
	  	 	48	  
		 	 Section 10.14
	  	 Patriot Act Notice
	  	 	48	  
		 	 Section 10.15
	  	 Acknowledgment of Receipt
	  	 	48	  
		 	 Section 10.16
	  	 Advertisement
	  	 	49	  
		
	 ARTICLE 11 AGENT
	  	 	49	  
		 	 Section 11.1
	  	 Appointment of Agent
	  	 	49	  
		 	 Section 11.2
	  	 Nature of Duties of Agent
	  	 	49	  
		 	 Section 11.3
	  	 Lack of Reliance on Agent
	  	 	49	  
		 	 Section 11.4
	  	 Certain Rights of Agent
	  	 	50	  
		 	 Section 11.5
	  	 Reliance by Agent
	  	 	50	  
		 	 Section 11.6
	  	 Indemnification of Agent
	  	 	50	  
		 	 Section 11.7
	  	 Agent in its Individual Capacity
	  	 	51	  
		 	 Section 11.8
	  	 Holders of Notes
	  	 	51	  
		 	 Section 11.9
	  	 Successor Agent
	  	 	51	  
		 	 Section 11.10
	  	 Collateral Matters
	  	 	52	  
		 	 Section 11.11
	  	 Delivery of Information
	  	 	52	  
		 	 Section 11.12
	  	 Defaults
	  	 	52	  
		
	 ARTICLE 12 INTER-BORROWER PROVISIONS
	  	 	53	  
		 	 Section 12.1
	  	 Certain Borrower Acknowledgments and Agreements
	  	 	53	  
		 	 Section 12.2
	  	 Maximum Amount of Joint and Several Liability
	  	 	54	  
		 	 Section 12.3
	  	 Authorization of Borrower Agent by Borrowers:
	  	 	54	  

  
 iii 

 LOAN AND SECURITY AGREEMENT 

This LOAN AND SECURITY AGREEMENT is made as of the 18th day of May, 2011 by and among DENT-A-MED INC., an Oklahoma corporation
(“Borrower Agent” or “Dent-A-Med”), DENT-A-MED RECEIVABLES CORPORATION, a Delaware corporation (“Receivables Corporation”), and HC RECOVERY, INC., an Oklahoma corporation (“HC
Recovery” and together with Borrower Agent and Receivables Corporation, the “Borrowers” and each individually is referred to as a “Borrower”), each with its chief executive office at 203 East Emma Avenue,
Springdale, Arkansas 72765, WELLS FARGO PREFERRED CAPITAL, INC., as agent for Lenders (“Agent”), an Iowa corporation with its principal office located at 800 Walnut Street, Des Moines, Iowa 50309, and the financial institutions from
time to time party hereto (collectively, the “Lenders” and each individually is referred to as a “Lender”). 

BACKGROUND 

Borrowers have requested and Agents and Lenders have agreed to make available to Borrowers a secured revolving credit facility in the initial
amount of the Maximum Principal Amount, all on the terms and subject to the conditions set forth herein 
 NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties covenant and agree as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.1 Certain Definitions. The terms defined in this Section 1.1, whenever used and capitalized in this Agreement shall,
unless the context otherwise requires, have the respective meanings herein specified. 
 “Account” as the meaning assigned
to that term in the UCC, including all rights to payment for goods sold or leased, or for services rendered. 
 “Acknowledgment and
Waiver Agreements” means the acknowledgment and waiver agreements, in form and substance acceptable to Agent, executed and delivered to Agent by mortgagees, landlords, warehousemen or other Persons in possession of any Collateral or at
whose premises any Collateral is located. 
 “Advance” means each advance of the Loan made to Borrowers pursuant to
Section 2.1 of this Agreement. 
 “Advance Rate” means (a) initially Sixty Five Percent (65%) and
(b) the following percentage based upon the Collateral Performance Indicator as of the end of each month then most recently ended for which monthly reports have been delivered to WFPC, pursuant to Section 6.2, commencing with the calendar
month ending June 30, 2011: 

  
 1 

					
	 Collateral Performance Indicator
	  	 Advance
Rate
	 
		
	 Less than or equal to 24%
	  	 	67	% 
		
	 Greater than 24% but less than or equal to 26%
	  	 	66	% 
		
	 Greater than 26% but less than or equal to 32%
	  	 	65	% 
		
	 Greater than 32% but less than or equal to 33%
	  	 	64	% 
		
	 Greater than 33% but less than or equal to 34%
	  	 	63	% 
		
	 Greater than 34% but less than or equal to 35%
	  	 	62	% 
		
	 Greater than 35%
	  	 	61	% 

 “Affiliate” means (i) any Person who or entity which directly or indirectly owns,
controls or holds Five Percent (5.0%) or more of the outstanding beneficial interest in a Borrower; (ii) any entity of which Five Percent (5.0%) or more of the outstanding beneficial interest is directly or indirectly owned,
controlled, or held by a Borrower; (iii) any entity which directly or indirectly is under common control with a Borrower; (iv) any officer, director, partner or employee of a Borrower or any Affiliate; or (v) any immediate family
member of any Person who is an Affiliate. For purposes of this definition, “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of an entity, whether
through the ownership of voting securities, by contract, or otherwise. 
 “Agreement” means this Loan and Security
Agreement and all exhibits and schedules hereto, as the same may be amended, modified or supplemented from time to time. 

“Assignment and Acceptance” means an assignment and acceptance entered into by an assigning Lender and an assignee Lender,
accepted by Agent, in accordance with Section 10.8 in form and substance satisfactory to Agent (in its sole and absolute discretion). 

“Annual Compliance Certificate” means a certificate in the form of Exhibit A attached hereto and made a part hereof.

 “Anti-Terrorism Laws” means any laws relating to terrorism or money laundering, including the Patriot Act. 

“Applicable Margin” means Five Percent (5.0%). 

“Availability Statement” means the certificate in substantially the form of Exhibit B attached hereto and made
part hereof. 
 “Backup Servicer” means Systems & Services Technologies, Inc. and any other Person selected by
Agent to act as a replacement backup servicer. 
 “Backup Servicing Agreement” means that certain Backup Servicing
Agreement dated as of the date hereof among Borrowers, Agent and Backup Servicer, as amended, modified, restated or extended from time to time, and any replacement backup servicing agreement with a Backup Servicer. 

  
 2 

 “Bankruptcy Code” means the United States Bankruptcy Code as now constituted or
hereafter amended and any similar statute or law affecting the rights of debtors. 
 “Bank Products” means any one or more
of the following types of services or facilities extended to a Borrower by Agent or any WFPC Affiliate: (a) Cash Management Services; (b) products under Hedging Agreements; (c) commercial credit card and merchant card services; and
(d) leases and other banking products or services as may be requested by any Borrower or Subsidiary. 
 “Books and
Records” means all of Borrowers’ original ledger cards, payment schedules, credit applications, contracts, lien and security instruments, guarantees relating in any way to the Collateral and other books and records or transcribed
information of any type, whether expressed in electronic form in tapes, discs, tabulating runs, programs and similar materials now or hereafter in existence relating to the Collateral. 

“Borrower Agent” has the meaning assigned to that term in the recitals. 

“Borrowers’ Loan Account” has the meaning assigned to that term in Section 2.1 of this Agreement. 

“Borrowing Base” means, as of the date of determination, and subject to change from time to time as described below, an
amount equal to (a) the Advance Rate multiplied by the aggregate balance of outstanding Eligible Receivables, minus (b) reserves established by Agent pursuant to Section 2.1(e). 

“Business Day” means any day except a Saturday, Sunday or other day on which national banks are authorized by law to close
including, without limitation, United States federal government holidays. 
 “Capital Base” means the sum of
(a) Borrowers’ Tangible Net Worth, plus (b) Subordinated Debt provided that at least Eighty Percent (80%) of the principal amount of Subordinated Debt is subordinated to the Obligations pursuant to a Subordination
Agreement. 
 “Cash Management Services” means any services provided from time to time by Agent, or any WFPC Affiliate to
any Borrower or Subsidiary in connection with operating, collections, payroll, trust, or other depository or disbursement accounts, including automated clearinghouse, e-payable, electronic funds transfer, wire transfer, controlled disbursement,
overdraft, depository, information reporting, lockbox and stop payment services. 
 “Change of Ownership” mean
(a) Harbert Private Equity Fund II, LLC or its affiliate funds fail to own directly or indirectly at least Eighty Percent (80%) of the Equity Interests that it owns as of the Closing Date of Dent-A-Med, (b) Dent-A-Med fails to own
directly One Hundred Percent (100%) of the Equity Interests of HC Recovery and Receivables Corporation, or (c) any Borrower fails to own directly One Hundred Percent (100%) of the Equity Interests that such Borrower owns as of the
Closing Date of each of its Subsidiaries. 
 “Closing Date” means May 18, 2011. 

  
 3 

 “Code” means the Internal Revenue Code of 1986, as amended from time to time,
and regulations with respect thereto in effect from time to time. 
 “Collateral” means any and all rights and interests in
or to personal Property of Borrowers, whether now owned or hereafter created or acquired, pledged from time to time as security for the Obligations, which shall specifically include, without limitation, all of the following with respect to each
Borrower: 
 (a) All now owned or existing and hereafter acquired, created, or arising Accounts and Receivables; 

(b) All collateral, security, and guaranties now or hereafter in existence for Accounts and Receivables; 

(c) All now owned and hereafter acquired, created or arising General Intangibles of every nature, kind and description, including, without
limitation, the Credit Card Agreements, the Sale Agreements, customer lists, choses in action, claims, books, records, goodwill, patents and patent applications, copyrights, trademarks, tradenames, service marks, tradestyles, trademark applications,
trade secrets, contracts, contract rights, royalties, licenses, franchises, deposits, license, franchise and royalty agreements, formulae, tax and any other types of refunds, returned and unearned insurance premiums, rights and claims under
insurance policies including without limitation, credit insurance and key man life insurance policies, and computer information, software, records and data; 

(d) All now owned and hereafter acquired Inventory and Equipment wherever located, and all replacements, parts, accessions, substitutions and
additions thereto; 
 (e) All now owned or hereafter acquired Fixtures, wherever located; 

(f) All now owned and hereafter acquired, created or arising Chattel Paper, Instruments and Documents (including bills of lading, warehouse
receipts and other documents of title) of every nature, kind and description; 
 (g) All now owned and hereafter acquired, created or
arising Supporting Obligations and Letter-of-Credit Rights of every nature, kind and description; 
 (h) All now existing and hereafter
acquired or arising Deposit Accounts, reserves and credit balances of every nature, wherever located, and all documents and records associated therewith; 

(i) All personal Property, now or hereafter in the possession of Agent; 

(j) All now owned or hereafter acquired Investment Property of every kind; and 

(l) The accessions to, and substitutions for an all replacements, products and Proceeds (including, without limitation, insurance proceeds and
insurance premiums), whether cash or non-cash, of all of the foregoing personal Property and interests in personal Property. 

“Collateral Performance Indicator” means as of the end of each calendar month, the sum of: 

  
 4 

 (a) the 31+ day delinquency percentage (the percentage defined as (x) Principal Receivables
for which payment is Thirty One (31) days or more contractually past due, divided by (y) total Principal Receivables at such date), plus 

(b) (i) net charge-offs for the six (6) month period ending on such date on an annualized basis, divided by (ii) average
Principal Receivables during the six (6) month period ending on such date on an annualized basis. 
 “Collateral Pledge
Agreements” means, collectively, (a) that certain Collateral Pledge Agreement dated as of the date hereof from Dent-A-Med in favor of Agent, (b) that certain Collateral Pledge Agreement dated as of the date hereof from Harbert
Private Equity Fund II, LLC in favor of Agent, and (c) that certain Collateral Pledge Agreement dated as of the date hereof from Dr. Warren Center in favor of Agent as amended, modified, restated or extended from time to time. 

“Collections” means payment of principal, interest and fees on Receivables, the cash and non-cash proceeds realized from the
enforcement of such Receivables and any security therefor, or the Collateral, proceeds of credit, group life or non-filing insurance, or proceeds of insurance on any real or personal property which is part of the collateral for the Receivables. 

“Commitment” means, with respect to each Lender, a commitment of such Lender to make its portion of the Advance in a
principal amount up to each such Lender’s Commitment Percentage of the Maximum Principal Amount. 
 “Commitment
Percentage” means, for any Lender, the percentage identified as the Commitment Percentage on Schedule I, as such percentage may be modified in connection with any assignment made in accordance with Section 10.8. 

“Consumer Finance Laws” means all applicable laws and regulations, federal, state and local, relating to the extension of
consumer credit, and the creation of a security interest in personal property or a mortgage in real property in connection therewith, as the case may be, and laws with respect to protection of consumers’ interests in connection with such
transactions, including without limitation, any usury laws, any privacy laws, the Credit Card Accountability, Responsibility and Disclosure Act of 2009, the Federal Consumer Credit Protection Act, the Federal Fair Credit Reporting Act, RESPA, the
Magnuson-Moss Warranty Act, the Gramm-Leach-Bliley Act, the Federal Trade Commission’s Rules and Regulations and Regulations B and Z of the Federal Reserve Board, as any of the foregoing may be amended from time to time. 

“Consumer Purpose Loans” means loans to one or more individuals the proceeds of which are used to purchase goods, services or
merchandise for personal, household or family use. 
 “Control Agreement” means, collectively, (a) that certain
deposit account control agreement dated as of even date herewith among Borrowers, Agent and Wells Fargo Bank, National Association, (b) that certain deposit account control agreement dated as of even date herewith among Borrowers, Agent and
Bank of Oklahoma, (c) that certain deposit account control agreement dated as of even date herewith among Borrowers, Agent and Arvest Bank and (d) any other deposit account control agreement entered into among Borrowers, Agent and a
financial institution, as each may be amended, modified, restated or extended from time to time. 

  
 5 

 “Credit Card Agreements” means, collectively, (a) that certain Program
Agreement dated as of May 30, 2007 between Dent-A-Med and CIT Bank and (b) with respect to each Borrower, all other agreements hereafter entered into by such Borrower with any Credit Card Issuer or any Credit Card Processor, as the same
now exist or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. 
 “Credit Card
Issuer” means any Person (other than a Borrower) who issues or whose members issue credit cards. 
 “Credit Card Processor
Notifications” means with respect to each Borrower, individually and collectively, the letter agreements executed by such Borrower and delivered to such Borrower’s Credit Card Issuers or Credit Card Processors who are parties to Credit
Card Agreements, acknowledging Agent’s first priority Lien in the monies due and to become due to such Borrower under the Credit Card Agreements of such Borrower, as the same now exist or may hereafter be amended, modified, supplemented,
extended, renewed, restated or replaced. 
 “Credit Card Processors” means with respect to each Borrower, any servicing or
processing agent or any financial intermediary who facilitates, services, processes or manages the credit authorization, billing transfer and/or payment procedures with respect to any of such Borrower’s sales transactions involving credit card
or debit card purchases by customers using credit cards or debit cards issued by any Credit Card Issuer. 
 “Credit
Documents” means this Agreement, the Notes, the Subordination Agreements, the Control Agreements, the Collateral Pledge Agreements, the Credit Card Processor Notifications, the Backup Servicing Agreement and any and all additional
documents, instruments, agreements and other writings executed and delivered pursuant to or in connection with this Agreement, as each may be amended, modified, restated or extended from time to time. 

“Cycle Jump Receivables” means a Receivable for which the applicable consumer borrower has requested and received a payment
cycle change. 
 “Debt” means as of the date of determination, all outstanding indebtedness (other than deferred loan
origination fees of Borrowers) including without limitation (a) all loans made hereunder to Borrowers; (b) accounts payable as of the date of determination; (c) income tax liabilities; (d) mortgages; (e) deposits, debenture
instruments, and other instruments, including all accruals of interest and fees related thereto; (e) all other obligations of a Person, which in accordance with GAAP would be classified upon a balance sheet as liabilities (except capital stock
and surplus earned or otherwise); and (f) Subordinated Debt. 
 “Default” means an event, condition or circumstance
which, with the giving of notice or the passage of time, or both, would constitute an Event of Default. 
 “Distributions”
means payments by Borrowers, or any of them, which constitute redemptions, repurchases, dividends or distributions of any kind with respect to a Borrower’s capital stock or any warrants, rights or options to purchase or otherwise acquire any
shares of a Borrower’s capital stock. 
 “EBITDA Ratio” means for Borrowers, on a consolidated basis as calculated on
a rolling twelve (12) month basis and in accordance with GAAP the ratio of (a) earnings before payments of 

  
 6 

 
interest, taxes, depreciation and amortization expenses, minus (i) any deficits from the amount required as an allowance for loan losses under Section 6.4(c) hereof and minus
(ii) the amount of any Receivables to be charged off, that have not been charged off, in Section 6.4(d) hereof to (b) the interest expense. 

“Eligible Receivables” means, as of the date of determination, Receivables (net of accrued interest and fees, deferred
discounts and promotional fees, and merchants’ and providers’ recourse reserves, but including deferred annual fees) which constitute Chattel Paper and conform to the warranties set forth in Section 4.1 hereof, in which is owned by a
Borrower and for which Agent has a validly perfected first priority Lien, and which are not any of the following: 
 (a) Receivables for
which a payment is more than Thirty (30) days past due on a contractual basis; 
 (b) Receivables for which the related collateral has
been assigned for repossession or has been repossessed; 
 (c) Receivables which are subject to bankruptcy or insolvency proceedings or the
account debtor with respect to which is a debtor under the Bankruptcy Code (including with respect to the applicable Credit Card Issuer or Credit Card Processor); 

(d) Receivables owing from officers, shareholders or employees of any Borrower or any Affiliate; 

(e) Receivables subject to litigation or any legal proceeding; 

(f) Receivables for which the original terms have been re-written, re-aged or otherwise modified (including, without limitation, Permanent
Hardship Receivables) other than Cycle Jump Receivables and Temporary Hardship Receivables; 
 (g) Receivables that do not require a monthly
principal payment of at least Three Percent (3.0%) of the account balance due or, for Receivables originated prior to the Closing Date, Two and Seven Tenths Percent (2.7%) of the highest principal balance thereunder; 

(h) Receivables with a remaining balance in excess of (i) Ten Thousand Dollars ($10,000) for Health Services Receivables and Specialty
Bed Receivables, and (ii) Seven Thousand Five Hundred Dollars ($7,500) for Home Exercise Equipment Receivables; 
 (i) Receivables with
more than one (1) Temporary Hardship Event during any rolling 12 month period or more than two (2) Temporary Hardship Events in the aggregate over the term of the contract; 

(j) Receivables currently on a deferred payment plan without Agent’s prior written consent; 

(k) Except as provided in clause (l) below, Receivables for which the amount, when aggregated with all other Receivables originated with
respect to a specific manufacturer, exceeds Twenty Five Percent (25%) of all Receivables of Borrowers then outstanding, to the extent of such excess; 

  
 7 

 (l) Receivables for which the amount, when aggregated with all other Receivables originated with
respect to Select Comfort, exceeds Thirty Percent (30%) of all Receivables of Borrowers then outstanding, to the extent of such excess; 

(m) Home Exercise Equipment Receivables which when aggregated with all other such Receivables exceeds Fifty Percent (50%) of all
Receivables of Borrowers then outstanding, to the extent of such excess; 
 (n) Specialty Bedding Receivables which when aggregated with all
other such Receivables exceeds Seventy Five Percent (75%) of all Receivables of Borrowers then outstanding, to the extent of such excess; 

(o) Receivables which feature a “same as cash” program greater than 18 months; 

(p) Receivables which provided for interest only, non-amortizing or balloon payment components; 

(q) Receivables underwritten with full recourse to a single merchant, to the extent they exceed Ten Percent (10%) of all Receivables of
Borrowers then outstanding, to the extent of such excess; 
 (r) Receivables not in compliance with Borrowers’ underwriting guidelines;

 (s) Receivables which indicate that a Person other than a Borrower is the payee or remittance party; 

(t) Receivables with a promotional payment plan not acceptable to Agent; or 

(u) Receivables which, in Agent’s sole but reasonable discretion, do not constitute acceptable collateral. 

“Environmental Control Statutes” means any federal, state, county, regional or local laws governing the control, storage,
removal, spill, release or discharge of Hazardous Substances, including without limitation CERCLA, the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976 and the Hazardous and Solid Waste Amendments of 1984,
the Federal Water Pollution Control Act, as amended by the Clean Water Act of 1976, the Hazardous Materials Transportation Act, the Emergency Planning and Community Right to Know Act of 1986, the National Environmental Policy Act of 1975, the Oil
Pollution Act of 1990, any similar or implementing state law, and in each case including all amendments thereto and all rules and regulations promulgated thereunder and permits issued in connection therewith. 

“EPA” means the United States Environmental Protection Agency, or any successor thereto. 

“Equity Interests” means, with respect to any Person, any and all shares, rights to purchase, options, warrants, general,
limited or limited liability partnership interests, member interests, participation or other equivalents of or interest in (regardless of how designated) equity of such Person, whether voting or nonvoting, including common stock, preferred stock,
convertible securities or any other “equity security” (as such term is defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the SEC under the Exchange Act). 

  
 8 

 “ERISA” means the Employee Retirement Income Security Act of 1974, all
amendments thereto, and any successor statute of similar import, and regulations thereunder, in each case as in effect from time to time. References to sections of ERISA shall be construed to refer to any successor sections. 

“Event of Default” has the meaning assigned to that term in Article 8 of this Agreement. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“GAAP” means generally accepted accounting principles in the United States of America applied on a consistent basis; provided
the requirement that such principles be applied on a consistent basis shall mean that the accounting principles observed in a current period are comparable in all material respects to those applied in a preceding period, or, in the event of a
material change in any accounting principle from that observed in any previous period (i) financial reports covering preceding periods during the term of this Agreement are restated to reflect such change and provide a consistent basis for
comparison among periods and (ii) the financial covenants set forth in Section 6.4 shall be adjusted as determined by Agent to reflect similar performance standards as those measured by the existing covenants using the previously observed
accounting principles. 
 “Hazardous Substance” means any toxic, reactive, corrosive, carcinogenic, flammable or hazardous
pollutant or other substance, including without limitation petroleum and items defined in Environmental Control Statutes as “hazardous substances,” “hazardous wastes,” “pollutants” or “contaminants.” 

“Health Services” means dental, chiropractic, or other services or procedures rendered by medical professionals, or for the
purchase of hearing aids or other medical devices. 
 “Health Services Receivables” means Receivables for which the account
debtor used amounts advanced for Health Services. 
 “Hedging Agreement” means an agreement relating to any interest rate
hedge, exchange, swap, cap, floor, collar, option, forward, cross right or obligation, or combination thereof or similar transaction, with respect to interest rate, foreign exchange, currency, commodity, credit or equity risk (including, without
limitation, any ISDA Master Agreement). 
 “Home Exercise Equipment” means equipment manufactured and designed for exercise
and physical fitness purposes. 
 “Home Exercise Equipment Receivables” means Receivables for which the account debtor used
amounts advanced for the purchase of Home Exercise Equipment. 
 “Intangible Assets” means all assets of any Person which
would be classified in accordance with GAAP as intangible assets, including without limitation (a) all franchises, licenses, permits, patents, applications, copyrights, trademarks, trade names, goodwill, experimental or organization expenses
and other like intangibles, and (b) unamortized debt discount and expense and unamortized stock discount and expense. 

  
 9 

 “LIBOR Rate” means the one (1) month London Interbank Offered Rate for any
day as found in the Wall Street Journal, Interactive Edition, or any successor edition or publication; provided any change in the LIBOR Rate during a calendar month that exists as of the last Business Day of a calendar month shall take effect for
purposes of Section 2.6 hereof on the first (1st) day of the immediately following month. 

“Lien” means any mortgage, deed of trust, pledge, lien, security interest, charge or other encumbrance or security
arrangement of any nature whatsoever, including without limitation any conditional sale or title retention arrangement, and any assignment, deposit arrangement or lease intended as, or having the effect of, security. 

“Loan” means the aggregate principal amount advanced by Lenders to Borrowers pursuant to Section 2.1 of this Agreement,
together with interest accrued thereon and fees and costs incurred in connection therewith. 
 “Local Authorities” means
individually and collectively the state and local governmental authorities which govern the business and operations owned or conducted by Borrowers or any of them. 

“Maturity Date” means May 18, 2014. 

“Maximum Principal Amount” means Forty Million Dollars ($40,000,000), subject to increases pursuant to Section 2.13
below. 
 “Notes” mean collectively, the promissory notes to this Agreement of Borrowers in favor of each Lender,
evidencing the joint and several obligation of Borrowers to repay the Loan, and any and all amendments, renewals, replacements or substitutions therefor, and each is referred to individually as a “Note.” 

“Obligations” means (a) each and every draft, liability and obligation of every type and description which Borrowers may
now or at any time hereafter owe to Agent and Lenders (whether such debt, liability or obligation now exists or is hereafter created or incurred, whether it arises in a transaction involving Agent and/or any Lender alone or in a transaction
involving other creditors of Borrowers, or any of them, and whether it is direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or sole, joint, several or joint and several), and
including specifically, but not limited to, all indebtedness of Borrowers arising under this Agreement, the Notes, any fee letter or any other loan or credit agreement between or among a Borrower or Borrowers and Agent and/or any Lender, whether now
in effect or hereafter entered into and including, without limitation, all Loans and (b) payment or performance, as the case may be, of all obligations of Borrowers with respect to Bank Products. 

“Participant” has the meaning assigned to that term in Section 10.8 of this Agreement. 

“Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272 (2001). 

  
 10 

 “PBGC” means the Pension Benefit Guaranty Corporation, or any successor thereto.

 “Permanent Hardship Event” means a permanent adjustment to interest rates, payment amounts or payment dates. 

“Permanent Hardship Receivables” means a Receivable for which there has been a Permanent Hardship Event. 

“Permitted Indebtedness” means (a) borrowings from Agent and Lenders hereunder; (b) trade indebtedness in the
normal and ordinary course of business for value received; (c) indebtedness and obligations incurred to purchase or lease fixed or capital assets, (d) the other indebtedness and obligations described on Schedule II attached hereto
and made part hereof, and (e) indebtedness in connection with Bank Products. 
 “Permitted Liens” means (a) Liens
granted to Agent by Borrowers pursuant to this Agreement, and (b) Liens existing as of the date hereof described on Schedule III attached hereto. 

“Person” means all natural persons, corporations, limited partnerships, general partnerships, joint stock companies, limited
liability companies, joint ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts or other organizations, whether or not legal entities, and federal and state governments and agencies or regulatory
authorities and political subdivisions thereof, or any other entity. 
 “Plan” means any employee benefit plan subject to
the provisions of Title IV of ERISA which is maintained in whole or in part for employees of Borrowers or any Affiliate of Borrowers. 

“Pledgor” means each Person from time to time executing a Collateral Pledge Agreement in favor of Agent. 

“Principal Receivables” means gross Receivables (including deferred discounts). 

“Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 “Receivables” means all consumer revolving lines of credit, all lien, title retention and security agreements, chattel
mortgages, chattel paper, bailment leases, installment sale agreements, instruments, consumer finance paper and/or promissory notes securing and evidencing loans made, and/or time sale transactions acquired, by a Borrower. 

“Replacement Lender” has the meaning assigned to that term in Section 2.10(b) of this Agreement. 

“Reportable Event” has the meaning assigned to that term in Section 4.13 of this Agreement. 

“Request for Advance” means the certificate in the form of Exhibit C attached hereto and made part hereof or an
online advance request. 

  
 11 

 “Required Lenders” shall mean, at any time, Lenders which are then in compliance
with their obligations hereunder and holding in the aggregate at least Sixty-Six and Two-Thirds Percent (66 2⁄3 %) of (a) the Commitment Percentage (and
participation interest) or (b) if this Agreement has been terminated, the outstanding Loans and participation interest. 

“Restricted Payments” means payments by Borrowers, or any of them, which constitute (a) a Distribution,
(b) payments of principal or interest on Subordinated Debt, or (c) repurchases of Equity Interests of such Borrower. 

“Sale Agreements” means, collectively, (a) that certain Receivables Sale Agreement dated as of May 30, 2007 between
Dent-A-Med and CIT Bank and (b) with respect to each Borrower, all other agreements hereafter entered into by such Borrower with any Credit Card Issuer for the sale of Receivables, as the same now exist or may hereafter be amended, modified,
supplemented, extended, renewed, restated or replaced. 
 “Schedule of Receivables and Assignment” means a schedule in form
and substance acceptable to Agent to be submitted by Borrowers to Agent. 
 “SEC” means the Securities and Exchange
Commission or any successor thereto. 
 “Select Comfort” means Select Comfort Corporation together with its subsidiaries
and affiliates. 
 “Senior Debt” means all indebtedness and liabilities (including accounts payable) of Borrowers, or any
of them, not expressed to be subordinated or junior to any other indebtedness of Borrowers, or any of them. 
 “Senior Debt to
Capital Base Ratio” means the ratio of Senior Debt to Capital Base. 
 “Specialty Bedding” means specialized
bedding that is adjustable or otherwise modified for medical needs. 
 “Specialty Bedding Receivables” means Receivables
for which the account debtor used amounts advanced for the purchase of Specialty Bedding. 
 “Subordinated Debt” means any
indebtedness of Borrowers for borrowed money which shall contain provisions subordinating the payment of such indebtedness and the liens and security interests securing such indebtedness to Senior Debt, in form, substance and extent acceptable to
Agent in its sole discretion. 
 “Subordination Agreement” means, individually, and “Subordination
Agreements” means, collectively, the Subordination Agreements executed in connection with the Subordinated Debt, from time to time, each in form and substance satisfactory to Agent in its sole discretion. 

“Subsidiary” of any entity means any corporation, limited liability company, partnership or other legal entity of which such
entity directly or indirectly owns or controls at least a majority of the outstanding Equity Interests having general voting power. For purposes of this definition, “control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management and policies of an entity, whether through the ownership of voting securities, by contract, or otherwise. 

  
 12 

 “Tangible Net Worth” means, at any date, the amount of the capital stock
liability of Borrowers on a consolidated basis (but excluding the effect of intercompany transactions) plus (or minus in the case of a deficit) its capital surplus and earned surplus minus, to the extent not otherwise excluded (a) the cost of
treasury shares, (b) the aggregate amount of Intangible Assets including the excess for assets acquired over their respective book values on the books of the corporation from which acquired, (c) investments in and loans to any Subsidiary
or Affiliate or to any shareholder, director or employee of a Borrower or an Affiliate of any Borrower and (d) any deficits from the amount required as an allowance for loan losses under Section 6.4(c) hereof and the amount of any
Receivables to be charged off, that have not been charged off, in Section 6.4(d) hereof. 
 “Temporary Hardship Event”
means a temporary or short term adjustments to interest rates, payment amounts or payment dates. 
 “Temporary Hardship
Receivables” means a Receivable for which there has been a Temporary Hardship Event. 
 “Termination Date” means
the earlier of: (a) the Maturity Date, as such date may be extended from time to time in accordance with the provisions of Section 2.4 of this Agreement, or (b) the date on which the Commitments are terminated and the Loan becomes due
and payable pursuant to Section 9.1. 
 “UCC” means the Uniform Commercial Code as in effect in the State of Iowa from
time to time. 
 “Unused Line Fee Percentage” means (a) for each calendar month for which the average outstanding
principal balance of the Loan is equal to or greater than Fifty Percent (50%) of the Maximum Principal Amount, One Half of One Percent (0.50%) per annum and (b) for each calendar month for which the average outstanding principal balance of
the Loan is less than Fifty Percent (50%) of the Maximum Principal Amount, Three Quarters of One Percent (0.75%) per annum, in each case computed on the basis of a Three Hundred Sixty (360) day year and the actual number of days elapsed.

 “WFPC Affiliate” means in relation to Agent, any entity controlled, directly or indirectly, by Agent, any entity that
controls, directly or indirectly, Agent or any entity directly or indirectly under common control with Agent. For this purpose, “control” of any entity means ownership of a majority of the voting power of the entity. 

Section 1.2 Rules of Construction. 

(a) Accounting Term. Except as otherwise provided herein, financial and accounting terms used in the foregoing definitions or elsewhere
in this Agreement shall be defined in accordance with GAAP. 
 (b) Uniform Commercial Code. Except as otherwise provided herein,
terms 

  
 13 

 
used in the foregoing definitions or elsewhere in this Agreement that are defined in the Uniform Commercial Code, including without limitation, “Accounts”, “Deposit
Accounts”, “Documents”, “Instruments”, “General Intangibles”, “Chattel Paper”, “Inventory”, “Goods”, “Equipment”,
“Fixtures”, “Supporting Obligations”, and “Letter of Credit Rights” shall have the respective meanings given to such terms in the UCC. 

ARTICLE 2 
 THE
REVOLVING CREDIT FACILITY 
 Section 2.1 The Loan. Until the Termination Date, Borrowers may request Lenders to make Advances
to Borrowers and, subject to the terms and conditions of this Agreement, each Lender severally and not jointly agrees to lend such Lender’s Commitment Percentage of each requested Advance up to such Lender’s Commitment which Borrowers may
repay and reborrow from time to time. The aggregate unpaid principal amount at any one time outstanding of all Advances shall not exceed the lesser of the Maximum Principal Amount or the Borrowing Base in effect as of the date of determination. 

(a) Agent shall establish on its books an account in the name of Borrowers (the “Borrowers’ Loan Account”). A debit
balance in Borrowers’ Loan Account shall reflect the amount of Borrowers’ indebtedness to Agent and Lenders from time to time by reason of Advances and other appropriate charges (including, without limitation, interest charges) hereunder.
At least once each month, Agent shall provide to Borrowers a statement of Borrowers’ Loan Account which statement shall be considered correct and accepted by Borrowers and conclusively binding upon Borrowers unless Borrowers notify Agent to the
contrary within Thirty (30) days of Agent’s providing such statement to Borrowers. 
 (b) Borrowers shall prepare a completed
Availability Statement as of each month end and forward such statement to Agent by the twentieth (20th) day of the following month or as may be more frequently required by Agent from time to
time. 
 (c) Each Advance made hereunder shall, in accordance with GAAP, be entered as a debit to Borrowers’ Loan Account, and shall be
in a principal amount which, when aggregated with all other Advances then outstanding, shall not exceed the lesser of the then effective Borrowing Base or Maximum Principal Amount. 

(d) The Loan shall be due and payable on the Termination Date. Upon the occurrence of an Event of Default, Agent shall have rights and
remedies available to it under Article 9 of this Agreement. 
 (e) Agent has the right at any time, and from time to time, in its
reasonable discretion (but without any obligation), to (i) set aside reasonable reserves against the Borrowing Base in such amounts as it may deem appropriate, including, without limitation, a reserve equal to the amount of outstanding
indebtedness, liabilities and obligations in connection with Bank Products and (ii) may adjust the advance rates in the Borrowing Base downward from time to time upon Fourteen (14) days notice to Borrowers, including, without limitation,
to reflect, in Agent’s judgment, the experience with Borrowers (including without limitation any increased credit, operational, legal, regulatory, political or reputational risk of Borrowers). 

  
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 Section 2.2 The Notes. The indebtedness of Borrowers to each Lender hereunder shall be
evidenced by a separate Note executed by Borrowers in favor of such Lender in the principal amount equal to each such Lender’s Commitment Percentage of the Maximum Principal Amount. The principal amount of the Notes will be the Maximum
Principal Amount; provided, however, that notwithstanding the face amount of the Notes, Borrowers’ liability under the Notes shall be limited at all times to the actual indebtedness (principal, interest and fees) then outstanding and
owing by Borrowers to Agent and Lenders hereunder. 
 Section 2.3 Method of Payment. Borrowers shall make all payments of principal
and interest on the Notes in lawful money of the United States of America and in funds immediately available by wire transfer or automated clearing house transfer, to Agent at its address referred to in Section 10.4 of this Agreement or at such
other address as Agent otherwise directs. Whenever any payment is due on a day, which is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and interest shall be paid for such extended time. As soon as
practicable after Agent receives payment from Borrowers, but in no event later than One (1) Business Day after such payment has been made, subject to Section 2.7, Agent will cause to be distributed like funds relating to the payment of
principal, interest or fees (other than amounts payable to Agent to reimburse Agent for fees and expenses payable solely to Agent pursuant to the terms of this Agreement) or expenses payable to Agent and Lenders in accordance with the terms of this
Agreement, in like funds relating to the payment of any such other amounts payable to Lenders. Borrowers’ obligations to Lenders with respect to such payment shall be discharged by making such payments to Agent pursuant to this Section 2.3
or, if not timely paid or any Event of Default or Default then exists, may be added to the principal amount of the Loans outstanding. 

Section 2.4 Extension and Adjustment of Maturity Date. Upon the written agreement of Borrowers, Agent and Lenders, the Maturity Date
may be extended. 
 Section 2.5 Use of Proceeds. The initial Advances made by Lender on the Closing Date shall be used to repay
certain existing indebtedness of Borrowers and to pay costs and expenses incurred in connection with this Agreement. Thereafter, Advances shall be used to finance Borrowers’ working capital, for other operational needs and for other lawful
purposes except as otherwise limited under this Agreement. 
 Section 2.6 Interest. 

(a) In the absence of an Event of Default or Default hereunder, and prior to maturity, the outstanding balance of the Loan will bear interest
at an annual rate at all times equal to the LIBOR Rate plus the Applicable Margin. 
 (b) Interest shall be payable monthly in arrears on
the first (1st) day of each month commencing on the first such date after the first Advance under the Loan and continuing until the Commitments are terminated and the Obligations are
indefeasibly paid in full. Unless otherwise required by Agent at any time and from time to time or Borrowers have otherwise paid or informed Agent that Borrowers will pay such amount in immediately available funds, Borrowers shall be deemed to have
requested an Advance on the first (1st) day of each calendar month in an amount equal to accrued and unpaid interest and any other accrued but unpaid fees due and owing hereunder and such
amount shall be added to the outstanding principal balance of the Obligations. Interest as provided hereunder will be calculated on the basis of a three hundred sixty (360) day year 

  
 15 

 
and the actual number of days elapsed. The rate of interest provided for hereunder is subject to increase or decrease when and as the LIBOR Rate increases or decreases in an amount corresponding
to the change in the LIBOR Rate. Any such change in the interest rate hereunder shall take effect the first (1st) day of the month following a change in the LIBOR Rate. 

(c) From and after the Maturity Date, or such earlier date as the outstanding principal balance of the Loan and other Obligations become due
and payable by acceleration or otherwise, or at Agent’s option upon the occurrence of an Event of Default, Borrowers hereby agree to pay interest on the outstanding principal balance of the Loan and other Obligations and, to the extent
permitted by law, overdue interest with respect thereto, at the rate of Two and a Half Percent (2.5%) per annum above the rate of interest otherwise applicable to the Loan. 

(d) Payments of interest and fees not received within Ten (10) days of the date due, are subject to a late charge equal to the greater of
Five Hundred Dollars ($500) or Five Percent (5.0%) of the amount past due, which late charge shall be in addition to any charge, fee or interest otherwise payable hereunder. 

Section 2.7 Advances. 

(a) Borrower Agent shall notify Agent in writing not later than 12:00 Noon Central time, on the date of each requested Advance, specifying the
date, amount and purpose of the Advance. Such notice shall be submitted via Agent’s online automatic request system in the form of the Request for Advance and shall be certified by the President or Treasurer (or such other authorized Person as
Borrower Agent directs from time to time) of Borrower Agent. 
 (b) Agent shall give to each Lender prompt notice (but in no event later
than 1:00 P.M., Central time on the date of Agent’s receipt of notice from Borrowers) of each Request for Advance by facsimile. No later than 2:00 P.M., Central time on the date on which an Advance is requested to be made pursuant to the
applicable Request for Advance, each Lender will make available to Agent at the address of Agent set forth in Section 10.4, in immediately available funds, its Commitment Percentage of such Advance requested to be made. Unless Agent shall have
been notified by any Lender prior to the date of Advance that such Lender does not intend to make available to Agent its portion of the Advance to be made on such date, Agent may assume that such Lender will make such amount available to Agent as
required above and Agent may, in reliance upon such assumption, make available the amount of the Advance to be provided by such Lender. Upon fulfillment of the conditions set forth in Sections 2.7(a) and 5.2 for such Advance, and as soon as
practicable after receipt of funds from Lenders (but in any event not later than 2:00 P.M., Central time) Agent will make such funds as have been received from Lenders available to Borrowers at the account specified by Borrowers in such Request for
Advance. 
 (c) To administer the Loan in an efficient manner and to minimize the transfer of funds between Agent and Lenders, Lenders
hereby instruct Agent, and Agent may (in its sole discretion, without any obligation) (i) make available, on behalf of Lenders, the full amount of all Advances requested by Borrowers, without giving each Lender prior notice of the proposed
Advance, of such Lender’s Commitment Percentage thereof and the other matters covered by the Request for Advance and (ii) if Agent has made any such amounts available as provided in clause (i), upon repayment of Loans by Borrowers, first
apply such amounts repaid directly to the amounts made available by Agent in accordance with clause (i) and not yet settled as described below. If 

  
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Agent makes an Advance on behalf of Lenders, as provided in the immediately preceding sentence, the amount of outstanding Loans and each Lender’s Commitment Percentage thereof shall be
computed weekly rather than daily and shall be adjusted upward or downward on the basis of the amount of outstanding Loans as of 5:00 P.M., Central time on the Business Day immediately preceding the date of each computation; provided,
however, that Agent retains the absolute right at any time or from time to time to make the afore-described adjustments at intervals more frequent than weekly. Agent shall deliver to each of Lenders at the end of each week, or such lesser period or
periods as Agent shall determine, a summary statement of the amount of outstanding Loans for such period (such week or lesser period or periods being hereafter referred to as a “Settlement Period”). If the summary statement is sent
by Agent and received by Lenders prior to 12:00 Noon, Central time on any Business Day each Lender shall make the transfers described in the next succeeding sentence no later than 3:00 P.M., Central time on the day such summary statement was sent;
and if such summary statement is sent by Agent and received by Lenders after 12:00 Noon, Central time on any Business Day, each Lender shall make such transfers no later than 3:00 P.M., Central time no later than the next succeeding Business Day
after such summary statement was sent. If in any Settlement Period, the amount of a Lender’s Commitment Percentage of the Loans is in excess of the amount of Loans actually funded by such Lender, such Lender shall forthwith (but in no event
later than the time set forth in the next preceding sentence) transfer to Agent by wire transfer in immediately available funds the amount of such excess; and, on the other hand, if the amount of a Lender’s Commitment Percentage of the Loans in
any Settlement Period is less than the amount of Loans actually funded by such Lender, Agent shall forthwith transfer to such Lender by wire transfer in immediately available funds the amount of such difference. The obligation of each of Lenders to
transfer such funds shall be irrevocable and unconditional, without recourse to or warranty by Agent and made without setoff or deduction of any kind. Each of Agent and Lenders agree to mark their respective books and records at the end of each
Settlement Period to show at all times the dollar amount of their respective Commitment Percentages of the outstanding Loans. Because Agent on behalf of Lenders may be advancing and/or may be repaid Loans prior to the time when Lenders will actually
advance and/or be repaid Loans, interest with respect to Loans shall be allocated by Agent to each Lender (including Agent) in accordance with the amount of Loans actually advanced by and repaid to each Lender (including Agent) during each
Settlement Period and shall accrue from and including the date such Advance is made by Agent to but excluding the date such Loans are repaid by Borrower in accordance with Section 2.3 or actually settled by the applicable Lender as described in
this Section 2.7(c). All such Advances made by Agent on behalf of Lenders hereunder shall bear interest at the interest rate applicable hereunder for Advances. 

(d) If the amounts described in subsection (b) or (c) of this Section 2.7 are not in fact made available to Agent by a Lender
(such Lender being hereinafter referred to as a “Defaulting Lender”) and Agent has made such amount available to Borrowers, Agent shall be entitled to recover such corresponding amount on demand from such Defaulting Lender. If such
Defaulting Lender does not pay such corresponding amount forthwith upon Agent’s demand therefor, Agent shall promptly notify Borrowers and Borrowers shall immediately (but in no event later than Two (2) Business Days after such demand) pay
such corresponding amount to Agent. Agent shall also be entitled to recover from such Defaulting Lender and Borrowers, (i) interest on such corresponding amount in respect of each day from the date such corresponding amount was made available
by Agent to Borrowers to the date such corresponding amount is recovered by Agent, at a rate per annum equal to either (A) if paid by such Defaulting Lender, the overnight federal funds rate or (B) if paid by Borrowers, the then applicable
rate of interest, calculated in accordance with Section 2.6, plus (ii) in each case, an amount equal to any costs (including reasonable legal expenses) and losses 

  
 17 

 
incurred as a result of the failure of such Defaulting Lender to provide such amount as provided in this Agreement. Nothing herein shall be deemed to relieve any Lender from its obligation to
fulfill its commitments hereunder or to prejudice any rights which Borrowers may have against any Lender as a result of any default by such Lender hereunder, including, without limitation, the right of Borrowers to seek reimbursement from any
Defaulting Lender for any amounts paid by Borrowers under clause (ii) above on account of such Defaulting Lender’s default. 
 (e)
The failure of any Lender to make its portion of the Advance to be made by it as part of any Advance shall not relieve any other Lender of its obligation, if any, hereunder to make its Advance on the date of such borrowing, but no Lender shall be
responsible for the failure of any other Lender to make the Advance to be made by such other Lender on the date of any Advance. The amounts payable by each Lender shall be a separate and independent obligation. 

(f) Each Lender shall be entitled to earn interest at the then applicable rate of interest, calculated in accordance with Section 2.6, on
outstanding Loans which it has funded to Agent from the date such Lender funded such Advance to, but excluding, the date on which such Lender is repaid with respect to the Loan. 

(g) Notwithstanding the obligation of Borrowers to send written confirmation of a Request for Advance, in the event that Agent agrees to
accept a Request for Advance made by telephone, such telephonic request shall be binding on Borrowers whether or not written confirmation is sent by Borrower or requested by Agent. Agent may act prior to the receipt of any requested written
confirmation, without any liability whatsoever, based upon telephonic notice believed by Agent in good faith to be from Borrowers or their agents. Agent’s records of the terms of any telephonic requests for Advances shall be conclusive on
Borrowers in the absence of gross negligence or willful misconduct on the part of Agent in connection therewith. 
 (h) Agent shall not be
obligated to transfer to any Defaulting Lender any payments made by Borrowers to the Agent for the Defaulting Lender’s benefit; nor will a Defaulting Lender be entitled to the sharing of any payments hereunder. Amounts payable to a Defaulting
Lender shall instead be paid to or retained by Agent. Agent may hold and, in its discretion, re-lend to Borrowers the amount of all such payments received or retained by it for the account of such Defaulting Lender. Any amounts so re-lent to
Borrowers shall earn interest at the interest rate applicable hereunder and for all other purposes of this Agreement shall be treated as if they were Advances; provided, however, that for purposes of voting or consenting to matters with
respect to the Credit Documents and determining Commitment Percentages, such Defaulting Lender shall be deemed not to be a “Lender”, and each of such Defaulting Lender’s Commitment and the unpaid principal balance of the Advances
owing to such Defaulting Lender shall be deemed to be zero (-0-). Until a Defaulting Lender cures its failure to fund its pro rata share of any Advance, such Defaulting Lender shall not be entitled to any portion of the unused line fee payable
pursuant to Section 2.9(b) of this Agreement. This Section 2.7(h) shall remain effective with respect to such Lender until such time as the Defaulting Lender shall no longer be in default of any of its obligations under this Agreement. The
terms of this Section 2.7(h) shall not be construed to increase or otherwise affect the Commitment of any Lender, or relieve or excuse the performance by Borrowers of their duties and obligations hereunder or under any of the other Credit
Documents. Nothing contained in this Section 2.7 or otherwise in this Agreement shall impair or limit any claim of Borrowers against a Defaulting Lender (including, without limitation, expenses incurred by Borrowers by reason of any such
default) who breaches its commitment to fund Advances hereunder. 

  
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 (i) Each request for an Advance pursuant to this Section 2.7 shall be irrevocable and
binding on Borrowers. 
 Section 2.8 Prepayment. 

(a) Optional Prepayments. Borrowers may prepay the Loan from time to time, in full or in part not to exceed Five Million Dollars
($5,000,000) without notice, and, in part, in excess of Five Million Dollars ($5,000,000) upon Seven (7) Business Day’s prior notice to Agent without premium or penalty, provided that (i) in the event Borrowers repay the Loan in full
or the Obligations are accelerated following the occurrence of an Event of Default at any time on or prior to the first anniversary of the Closing Date, Borrowers shall pay a sum equal to Two Percent (2.0%) of the Maximum Principal Amount as a
prepayment fee, (ii) in the event Borrowers repay the Loan in full or the Obligations are accelerated following the occurrence of an Event of Default at any time after the first anniversary of the Closing Date but on or prior to the second
anniversary of the Closing Date, Borrowers shall pay a sum equal to One and One Half Percent (1.50%) of the Maximum Principal Amount as a prepayment fee; (iii) in the event Borrowers repay the Loan in full or the Obligations are
accelerated following the occurrence of an Event of Default at any time thereafter, Borrowers shall pay a sum equal to One Percent (1.0%) of the Maximum Principal Amount as a prepayment fee; (iv) prepayments shall be in a minimum amount of
Ten Thousand Dollars ($10,000) and Ten Thousand Dollars ($10,000) increments in excess thereof; and (v) partial prepayments prior to the Termination Date shall not reduce Lenders’ Commitments under this Agreement and may be reborrowed,
subject to the terms and conditions hereof for borrowing, and partial prepayments will be applied first to accrued interest and fees and then to outstanding Advances. Each Borrower acknowledges that the above described fee is an estimate of
Lenders’ damages in the event of early termination and is not a penalty. In the event of termination of the credit facility established pursuant to this Agreement, all of the Obligations shall be immediately due and payable upon the termination
date stated in any notice of termination. All undertakings, agreements, covenants, warranties and representations of Borrowers contained in the Credit Documents shall survive any such termination, and Agent shall retain its liens in the Collateral
and all of its rights and remedies under the Credit Documents notwithstanding such termination until Borrowers have paid the Obligations to Agent and Lenders, in full, in immediately available funds, together with the applicable termination fee, if
any. Notwithstanding the foregoing, in the event any Borrower should enter into a Change of Ownership transaction acceptable to Lenders (as determined in their sole and absolute discretion) and Lenders enter into a modified or new financing with the
acquiring Person or Lenders otherwise consents to such Change in Ownership in writing, then the termination fee shall be waived by Lenders. 

(b) Mandatory Prepayments. In the event that amounts outstanding hereunder at any time exceed the Borrowing Base (whether established
by an Availability Statement or otherwise) Borrowers shall pay to Agent immediately and without demand or notice of any kind required, the amount by which Borrowers’ indebtedness hereunder exceeds the Borrowing Base then applicable, together
with all accrued interest on the amount so paid and any fees and costs incurred in connection therewith. 
 Section 2.9 Fees.
Borrowers shall pay to Agent, at Agent’s offices, the following: 
 (a) Administrative Fee. A non-refundable monthly
administrative fee of $3,000. Such administrative fee shall be payable to Agent, solely for its account, monthly in arrears on the first (1st) day of each month, and also payable on the
Termination Date, unless the Commitments are terminated on an earlier date, in which event the administrative fee shall be paid on the date of such termination. 

  
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 (b) Unused Line Fee. A non-refundable monthly unused line fee at the rate of the Unused
Line Fee Percentage on the average daily unused Commitments. Such unused line fee shall be payable to Agent, for the account of Lenders in accordance with their Commitment Percentages, monthly in arrears on the first (1st) day of each month, and also payable on the Termination Date, unless the Commitments are terminated on an earlier date, in which event the unused line fee shall be paid on the date of such
termination. 
 Section 2.10 Regulatory Changes in Capital Requirements; Replacement of a Lender. 

(a) Regulatory Changes in Capital Requirements. If any Lender shall have determined that the adoption or the effectiveness after the
date hereof of any law, rule, regulation or guideline regarding capital adequacy, or any change in any of the foregoing or in the interpretation or administration of any of the foregoing by any governmental authority, central lender or comparable
agency charged with the interpretation or administration thereof, or compliance by such Lender (or any lending office of such Lender) or such Lender’s holding company with any industry wide request or directive regarding capital adequacy
(whether or not having the force of law) of any such authority, central lender or comparable agency, has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company,
if any, as a consequence of this Agreement, to a level below that which such Lender or its holding company could have achieved on the portion of the Loans made by such Lender pursuant hereto but for such adoption, change or compliance (taking into
consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy) by an amount deemed by such Lender to be material, then from time to time Borrowers shall pay to such Lender on demand
such additional amount or amounts as will compensate such Lender or its holding company for any such reduction suffered together with interest on each such amount from the date demanded until payment in full thereof at the rate provided in
Section 2.6 with respect to amounts not paid when due. Agent will notify Borrowers of any event occurring after the date of this Agreement that will entitle a Lender to compensation pursuant to this Section 2.10(a) as promptly as
practicable after it obtains knowledge thereof and determines to request such compensation. 
 (b) Replacement of a Lender. If
Borrowers become obligated to pay additional amounts to any Lender pursuant to Section 2.10(a), then Borrowers may within Ninety (90) days thereafter designate another bank that is acceptable to Agent in its reasonable discretion (such
other bank being called a “Replacement Lender”) to purchase the Loans of such Lender and such Lender’s rights hereunder, without recourse to or warranty by, or expense to, such Lender, for a purchase price equal to the
outstanding principal amount of the Loans payable to such Lender plus any accrued but unpaid interest on such Loans and all accrued but unpaid fees owed to such Lender and any other amounts payable to such Lender under this Agreement, and to assume
all the obligations of such Lender hereunder, and, upon such purchase and assumption (pursuant to an Assignment and Acceptance), such Lender shall no longer be a party hereto or have any rights hereunder (other than rights with respect to
indemnities and similar rights applicable to such Lender prior to the date of such purchase and assumption) and shall be relieved from all obligations to Borrower hereunder, and the Replacement Lender shall succeed to the rights and obligations of
such Lender hereunder. 

  
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 Section 2.11 Sharing of Payments. If any Lender shall obtain any payment (whether
voluntary, involuntary, through the exercise of any right of setoff or otherwise) on account of the Loans made by it in excess of its pro rata share of such payment as provided for in this Agreement, such Lender shall forthwith purchase from the
other Lenders such participations in the Loans made by them as shall be necessary to cause such purchasing Lender to share the excess payment accruing to all Lenders in accordance with their respective ratable shares as provided for in this
Agreement; provided, however, that if all or any portion of such excess is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and each such Lender shall repay to the purchasing Lender the
purchase price to the extent of such recovery together with an amount equal to such Lender’s ratable share (according to the proportion of (a) the amount of such Lender’s required repayment to (b) the total amount so recovered
from the purchasing Lender) or any interest or other amount paid or payable by the purchasing Lender in respect to the total amount so recovered. Borrowers agree that any Lender so purchasing a participation from another Lender pursuant to this
Section 2.11 may, to the fullest extent permitted by law, exercise all of its rights of payment (including the right of setoff) with respect to such participation as fully as if such Lender were the direct creditor of Borrowers in the amount of
such participation. 
 Section 2.12 Pro Rata Treatment. Subject to Sections 2.7 and Section 9.4 hereof, each payment or
prepayment of principal of the Loan and each payment of interest on the Loans, actually received by Agent shall be allocated pro rata among Lenders in accordance with the respective principal amounts of their outstanding Loans; provided,
however, that the foregoing fees payable hereunder (other than the fees payable under Section 2.9(a) hereof) to Lenders shall be allocated to each Lender based on such Lender’s Commitment Percentage. 

Section 2.13 Accordion Facility. Subject to the terms and conditions set forth herein below, Borrowers shall have a right at any time
to increase the amount of the Maximum Principal Amount (the “Accordion Increase”) in an amount acceptable to Agent in its sole and absolute discretion (and without the approval of any Lenders); provided, however, that the aggregate
amount of the Accordion Increase shall not exceed Ten Million Dollars ($10,000,000). The following additional terms and conditions shall apply to the Accordion Increase: 

(a) the Accordion Increase shall constitute additional Obligations and shall be secured and guaranteed with the other Obligations on a pari
passu basis by the Collateral; 
 (b) Borrowers shall execute a new Note in favor of any new Lender or any existing Lender whose Commitment
is increased, as well as any other legal documentation and modification documents reasonably requested by Agent to consummate the Accordion Increase; 

(c) unless otherwise provided by Agent, the Accordion Increase shall be subject to the same terms (including interest rate and maturity date)
as the existing Loan; 
 (d) all documents, organizational documents and other documents evidencing and contemplated by the Accordion
Increase shall be in form and substance acceptable to Agent and Borrowers; 
 (e) Borrowers shall have delivered all due diligence materials
and other deliverables reasonably requested by Agent; 
 (f) each of the closing conditions set forth in Article 5 shall have been
satisfied; 

  
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 (g) no Default or Event of Default shall have occurred that has not been waived by Lenders
pursuant to the terms hereof; 
 (h) Agent shall have received from Borrowers updated financial statements and projections and a
certificate, in each case in form and substance reasonably satisfactory to Agent, demonstrating that, after giving effect to the Accordion Increase on a pro forma basis, Borrowers will be in compliance with all financial covenants set forth herein;

 (i) the Accordion Increase shall be subject to the ability of Agent to syndicate the Accordion Increase as determined by Agent in its
sole and absolute discretion; and 
 (j) Agent shall have received such other due diligence and credit committee approvals as it may require
with results satisfactory to Agent in its sole and absolute discretion. 
 Participation in the Accordion Increase shall be offered first to each of the
existing Lenders in an amount equal to each Lender’s Commitment Percentage of the Accordion Increase, but no such Lender shall have any obligation to provide all or any portion of the Accordion Increase. If the amount of the Accordion Increase
requested by Borrowers shall exceed the Commitments which the existing Lenders are willing to provide with respect to the Accordion Increase, then Agent may invite other banks or lending institutions acceptable to Agent and Borrowers to join this
Agreement as Lenders hereunder for the portion of such Accordion Increase not provided by the existing Lenders; provided, however, that such other banks, or financial institutions shall enter into such joinder agreements to give effect thereto as
Agent and Borrowers may reasonably request. Agent is authorized to enter into, on behalf of Lenders, any amendment to this Agreement or any other Credit Document as may be necessary to incorporate the terms of the Accordion Increase in accordance
with the terms hereof. 
 ARTICLE 3 

SECURITY 
 Section
3.1 Security Interest. To secure the payment and performance of the Obligations, each Borrower hereby grants to Agent, for the benefit of Lenders and WFPC Affiliates, a continuing general Lien on and a continuing security interest in all of
the Collateral, wherever located, whether now owned or hereafter acquired, existing or created, together with all replacements and substitutions therefor, and the cash and non-cash proceeds thereof, subject to Permitted Liens. The Liens and security
interests of Agent in the Collateral shall be first and prior perfected Liens and security interests, subject only to Permitted Liens, and may be retained by Agent until all of the Obligations have been indefeasibly satisfied in full and the
Commitments have expired or otherwise has been terminated. 
 Section 3.2 Financing Statements. Agent is hereby authorized by each
Borrower to file any financing statements covering the Collateral or any amendment adding collateral to any financing statement or an amendment that adds a debtor to a financing statement, in each case whether or not a Borrower’s signature
appears thereon. Borrowers agree to comply with the requirements of all state and federal laws and requests of Agent in order for Agent to have and maintain a valid and perfected first security interest in the Collateral. 

Section 3.3 Collateral Requirements. Borrowers shall mark their books and records 

  
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clearly identifying that the Collateral has been collaterally assigned to Agent pursuant to this Agreement. Borrowers shall (a) hold all original Collateral as the custodian for Agent for
the purposes of perfecting Agent’s Lien in the Collateral and upon the request of Agent following the occurrence of an Event of Default, deliver to Agent the Collateral and all Documents, General Intangibles and Instruments relating to
Collateral and, upon request of Agent, deliver to Agent or its designee any other property in which Borrowers have granted Agent a security interest hereunder, including, but not limited to, all of Borrowers’ Books and Records including all
computers, computer related equipment, tapes and software; and (b) execute and deliver to Agent, for the benefit of Lenders, such assignments, endorsements, allonges to promissory notes, mortgages, financing statements, amendments thereto and
continuation statements thereof, in form satisfactory to Agent, and such additional agreements, documents or instruments as Agent may, from time to time, require to evidence, perfect and continue to perfect Agent’s liens and security interests
granted hereunder. Agent may in its sole discretion record or file any such document, instrument or agreement, including, without limitation, this Agreement, as it may from time to time deem desirable. 

Section 3.4 Collections. 

(a) Notwithstanding the assignment (but not in any way to be deemed or construed to impair or affect the security interest granted hereunder)
of the Collateral by Borrowers to Agent, until the occurrence of a Default or an Event of Default, Borrowers may service, manage, enforce and receive Collections on Receivables for the account of Agent. Borrowers shall have no power to make any
allowance or credit to any obligor outside the ordinary course of Borrowers’ business without Agent’s prior written consent. At any time following the occurrence of a Default or an Event of Default, Agent may, in its sole discretion,
provide a Transfer Notice (as defined in the Backup Servicing Agreement) to Backup Servicer. 
 (b) All amounts received directly by
Borrowers from any account debtor in respect of any Receivables, as well as all Collections, shall be held in trust by Borrowers for the benefit of Agent and Lenders. 

(c) Borrowers shall instruct all account debtors on the Receivables to remit all payments to a deposit account or a lockbox subject to a
Control Agreement. All Collections received by Borrowers shall be deposited by Borrowers into a deposit account subject to a Control Agreement within One (1) Business Day of receipt. All funds deposited into a deposit account or a lockbox
subject to a Control Agreement shall immediately become the property of Agent and shall not, in any event, bear interest in favor of Borrowers or any other party. 

(d) The Control Agreements shall be irrevocable by Borrowers so long as Borrowers are indebted to Agent and Lenders under this Agreement and
this Agreement remains in effect. 
 Section 3.5 Additional Rights of Agent; Power of Attorney. 

(a) In addition to all the rights granted to Agent hereunder, Agent shall have the right, at any time following the occurrence of a Default or
an Event of Default, to notify the obligors and account debtors of all Collateral to make payment thereon directly to Agent, and to take control of the cash and non-cash proceeds of such Collateral; provided, however, that once

  
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such notification is given to such obligors, it shall not be vitiated by a subsequent cure of such Event of Default or Default without the prior written consent of Agent. When Collections
received by Agent have been converted into cash form, Agent shall forthwith apply the same first in discharge of all expenses, fees, costs and charges including attorneys’ fees and costs of Collections; second to pay all interest accrued under
the Notes and this Agreement; third to pay principal due under the Notes and this Agreement; and then to pay any other sums due to Agent and Lenders under the terms of this Agreement. 

(b) Each Borrower irrevocably appoints Agent its true and lawful attorney, with power of substitution, to act in the name of such Borrower or
in the name of Agent or otherwise, for the use and benefit of Agent, but at the cost and expense of Borrowers, without notice to Borrowers: to demand, collect, receipt for and give renewals, extensions, discharges and releases of any Collateral; to
institute and to prosecute legal and equitable proceedings to realize upon any Collateral; to settle, compromise, or adjust claims; to take possession and control in any manner and in any place of any cash or non-cash items of payment or proceeds
thereof; to endorse the name of such Borrower upon any notes, checks, drafts, money orders, or other evidences of payment of Collateral; to sign such Borrower’s name on any instruments or documents relating to any of the Collateral or on drafts
against account debtors; to do all other acts and things necessary, in Agent’s sole judgment, to effect collection of the Collateral or protect its security interest in the Collateral; and generally to sell in whole or in part for cash, credit
or property to others or to itself at any public or private sale, assign, make any agreement with respect to or otherwise deal with the Collateral as fully and completely as though Agent were the absolute owner thereof for all purposes, except to
the extent limited by any applicable laws and subject to any requirement of notice to Borrowers or other Persons under applicable laws. 

Section 3.6 Additional Collateral Provisions. 

(a) Borrowers will defend the Collateral against all Liens (other than Permitted Liens), and claims and demands of all Persons at any time
claiming the same or any interest therein. Borrowers agree to comply with the requirements of all state and federal laws and requests of Agent in order for Agent to have and maintain a valid and perfected first security interest and/or mortgage Lien
in the Collateral including, without limitation, executing such documents as Agent may require to obtain control over all Deposit Accounts, Letter-of-Credit Rights and Investment Property, as applicable. Furthermore, Borrowers shall promptly notify
Agent in writing upon incurring or otherwise obtaining a Commercial Tort Claim against any third party, and, upon the request of Agent, shall promptly enter into such security agreements and do such other things or acts deemed appropriate by Agent
to give Agent a fully valid, perfected and enforceable security interest in any such Commercial Tort Claim. Collateral shall include any such Commercial Tort Claim, and the authorization given by Borrowers to Agent in Section 3.2 above to file
financing statements covering the Collateral shall include the authorization to file financing statements with respect to any such Commercial Tort Claim. Borrowers warrant and represent that they do not own any Commercial Tort Claims as of the date
hereof. 
 (b) In addition to the foregoing, Borrowers shall perform all further acts that may be lawfully and reasonably required by Agent
to secure Agent and effectuate the intentions and objects of this Agreement, including, but not limited to, the execution and delivery of lockbox agreements, cash collateral account agreements, mortgages, security agreements, contracts and any other
documents required hereunder, as well as obtain Acknowledgment and Waiver Agreements. 

  
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At the request of Agent, Borrowers shall, immediately deliver (with execution by Borrowers of all necessary documents or forms to reflect, implement or enforce all Liens described herein thereon)
to Agent all certificates of title to note the Lien of Agent thereon and all items of Collateral for which Agent must receive possession to obtain and/or maintain perfected security interests. 

ARTICLE 4 

REPRESENTATIONS AND WARRANTIES 

Each Borrower represents and warrants and shall continue to represent and warrant to Agent and Lenders until the Obligations hereunder have
been indefeasibly satisfied in full and the Commitments have expired or otherwise have been terminated as follows: 
 Section 4.1
Representations and Warranties as to Receivables. 
 (a) As to the Receivables generally: 

(i) Each Borrower or, where a Borrower was not the original lender, to the best of such Borrower’s knowledge, the original lender or
seller had full power and authority to make the loans (or other extensions of credit) evidenced by the Receivables and all such Receivables and all Books and Records related thereto are genuine, based on enforceable contracts and are in all respects
what they purport to be; 
 (ii) All Receivables have been duly authorized, executed, delivered by the parties whose names appear thereon
and are valid and enforceable in accordance with their terms; any applicable filing, recording or lien notation law with respect to any collateral securing a Receivable will have been complied with to the extent such filing or recording is necessary
under applicable law to create or perfect such Borrower’s security interest in such collateral consistent with its present policy and as of the date of this Agreement, Borrowers do not have any Receivables secured by collateral; 

(iii) The form and content of all Receivables and the security related thereto, if any, and the transactions from which they arose comply in
all material respects with any and all applicable laws, rules and regulations, including without limitation, the Consumer Finance Laws; 

(iv) The original amount and unpaid balance of each Receivable on Borrowers’ Books and Records and on any statement or schedule
delivered to Agent and/or any Lender, including without limitation the Schedule of Receivables, is and will be the true and correct amount actually owing to a Borrower as of the date each Receivable is pledged to Agent, is not subject to any claim
of reduction, counterclaim, set-off, recoupment or any other claim, allowance or adjustment; and no Borrower has any knowledge of any fact which would impair the validity or collectability of any Receivables; 

(v) All security agreements, title retention instruments and other documents and instruments which are security for Receivables, if any,
contain a correct and sufficient description of the personal property covered thereby, and, subject to the rights of Agent hereunder and the interests of Borrowers as holder of such security agreements title retention instruments or other documents
or instruments, are or create security interests and Liens; 

  
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 (vi) Borrowers have made an adequate credit investigation of the obligor and/or co-applicant of
each Receivable and has determined in the ordinary course of Borrowers’ business in accordance with historic practice that his or her credit is satisfactory and is in conformity in all material respects with Borrowers’ policies and
standards; and 
 (vii) A Borrower has good and valid indefeasible title to the Receivables, free and clear of all prior assignments,
claims, liens, encumbrances and security interests, and has the right to pledge and grant Agent, for the benefit of Lenders and WFPC Affiliates, a first priority security interest in the same, in the manner provided in this Agreement. 

Section 4.2 Organization and Good Standing. Each Borrower is duly organized and validly existing in good standing under the laws of the
state identified on Schedule 4.2 attached hereto and made part hereof and has the power and authority to engage in the business it conducts and is qualified and in good standing in those states wherein the nature of business or property owned
by it requires such qualification, is not required to be qualified in any other state; or if not so qualified, no adverse effect would result therefrom. The organizational number assigned to each Borrower by the state of its organization is set
forth on Schedule 4.2 attached hereto and made part hereof. 
 Section 4.3 Perfection of Security Interest. Upon filing of
financing statements in all places as, in the opinion of counsel for Borrowers, are necessary to perfect the security interests granted in Article 3 of this Agreement, describing the Collateral and disclosing each Borrower as debtor and Agent
as secured party, Agent will have a first perfected security interest in the Collateral which can be perfected by the filing of a UCC financing statement in each Borrower’s state of organization, superior in right of interest to any other
Person (including, without limitation, purchasers from, or creditors or receivers or a trustee in bankruptcy of, Borrowers). 
 Section 4.4
No Violations. The making and performance of the Credit Documents do not and will not violate any provisions of any law, rule, regulation, judgment, order, writ, decree, determination or award or breach any provisions of the charter, bylaws
or other organizational documents of any Borrower, or constitute a default or result in the creation or imposition of any security interest in, or lien or encumbrance upon, any assets of any Borrower (immediately or with the passage of time or with
the giving of notice and passage of time, or both) under any other contract, agreement, indenture or instrument to which a Borrower is a party or by which a Borrower or its property is bound with failure to comply resulting in a material adverse
change in the business, operations, Property (including the Collateral), prospects or financial condition of any Borrower. 
 Section 4.5
Power and Authority. 
 (a) Each Borrower has full power and authority under the law of the state of its organization and under its
organizational documents to enter into, execute and deliver and perform the Credit Documents; to borrow monies hereunder, to incur the obligations herein provided for and to pledge and grant to Agent, for the benefit of Lenders, a security interest
in the Collateral; and 
 (b) All actions (corporate or otherwise) necessary or appropriate for each Borrower’s execution, delivery and
performance of the Credit Documents have been taken. 
 Section 4.6 Validity of Agreements. Each of the Credit Documents is, or when
delivered to Agent will be, duly executed and constitute valid and legally binding obligations of each Borrower enforceable against such Borrower, in accordance with their respective terms. 

  
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 Section 4.7 Litigation. There is no order, notice, claim, action, suit, litigation,
proceeding or investigation pending or, to Borrowers’ knowledge, threatened against or affecting any Borrower, whether or not fully covered by insurance, except as identified and described on Schedule 4.7 attached hereto and made part
hereof. 
 Section 4.8 Compliance. Each Borrower is in compliance in all material respects with all applicable laws and regulations,
federal, state and local (including all Consumer Finance Laws (including being in compliance with privacy notice requirements under the Gramm-Leach-Bliley Act)), material to the conduct of its business and operations; each Borrower possesses all the
franchises, permits, licenses, certificates of compliance and approval and grants of authority necessary or required in the conduct of its business and the same are valid, binding, enforceable and subsisting without any defaults thereunder or
enforceable adverse limitations thereon, and are not subject to any proceedings or claims opposing the issuance, development or use thereof or contesting the validity thereof; and no approvals, waivers or consents, governmental (federal, state or
local) or non-governmental, under the terms of contracts or otherwise, are required by reason of or in connection with such Borrower’s execution and performance of the Credit Documents. 

Section 4.9 Accuracy of Information; Full Disclosure. 

(a) All financial statements, including any related schedules and notes appended thereto, delivered and to be delivered to Agent and/or any
Lender pursuant to this Agreement have been or will be prepared in accordance with GAAP and do and will fairly present in all material respects the financial condition of each Borrower and its Subsidiaries, if any, on the dates thereof and results
of operations for the periods covered thereby and discloses all liabilities (including contingent liabilities) of any kind of such Borrower. 

(b) Since the date of the most recent financial statements furnished to Agent and/or any Lender, there has not been any material adverse
change in the financial condition, business or operations of any Borrower. 
 (c) All financial statements and other statements, documents
and information furnished by Borrowers, or any of them, to Agent and/or any Lender in connection with this Agreement and the Notes and the transactions contemplated hereunder do not and will not contain any untrue statement of material fact or omit
to state a material fact necessary in order to make the statements contained therein not misleading. Each Borrower has disclosed to Agent in writing any and all facts which materially and adversely affect the business, properties, operations or
condition, financial or otherwise, of such Borrower, or such Borrower’s ability to perform its obligations under this Agreement and the Notes. 

Section 4.10 Taxes. Except as described on Schedule 4.10 attached hereto and made part hereof, each Borrower has filed and will
file all tax returns which are required to be filed and has paid or will pay when due all taxes, license and other fees with respect to the Collateral and the business of such Borrower except taxes contested in good faith for which adequate reserves
have been established by such Borrower on its Books and Records. 

  
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 Section 4.11 Indebtedness. No Borrower has presently outstanding indebtedness or
obligations including contingent obligations and obligations under leases of property from others, except Permitted Indebtedness. 
 Section
4.12 Investments. No Borrower has direct or indirect Subsidiaries or Affiliates, or investments in or loans to any other individuals or business entities (other than Consumer Purpose Loans), except as described in Schedule 4.12
attached hereto and made part hereof. 
 Section 4.13 ERISA. Each Borrower and any Subsidiary, and each member of the controlled
group of corporations (as such term “controlled group of corporations” is defined in Section 1563 of the Internal Revenue Code of 1986, as amended) of which such Borrower is a member, is in compliance in all material respects
with all applicable provisions of ERISA and the regulations promulgated thereunder. No reportable event, as such term (hereinafter called a “Reportable Event”) is defined in Title IV of ERISA, has occurred with respect to, nor has
there been terminated, any Plan maintained for employees of any Borrower, or any Subsidiary, or any member of the controlled group of corporations of which a Borrower is a member. 

Section 4.14 Hazardous Wastes, Substances and Petroleum Products. 

(a) Each Borrower (i) has received all permits and filed all notifications necessary to carry on its respective business; and
(ii) is in compliance in all respects with all Environmental Control Statutes. 
 (b) No Borrower has given any written or oral notice
to the Environmental Protection Agency (“EPA”) or any state or local agency with regard to any actual or imminently threatened removal, spill, release or discharge of hazardous or toxic wastes, substances or petroleum products or
properties owned or leased by such Borrower or in connection with the conduct of its business and operations. 
 (c) No Borrower has
received notice that it is potentially responsible for costs of clean-up of any actual or imminently threatened spill, release or discharge of hazardous or toxic wastes or substances or petroleum products pursuant to any Environmental Control
Statute. 
 Section 4.15 Solvency. Each Borrower is, and after receipt and application of the first Advance will be, solvent such
that (a) the fair value of its assets (including without limitation the fair salable value of such Borrower’s Intangible Assets) is greater than the total amount of its liabilities, including without limitation, contingent liabilities,
(b) the present fair salable value of its assets (including without limitation the fair salable value of its Intangible Assets) is not less than the amount that will be required to pay the probable liability on its debts as they become absolute
and matured, and (c) it is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business. No Borrower intends to, or believes that it will,
incur debts or liabilities beyond its ability to pay as such debts and liabilities mature, and is not engaged in a business or transaction, or about to engage in a business or transaction, for which its property would constitute unreasonably small
capital after giving due consideration to the prevailing practice and industry in which it is engaged. For purposes of this Section 4.15, in computing the amount of contingent liabilities at any time, it is intended that such liabilities will
be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount that reasonably can be expected to become an actual matured liability. 

  
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 Section 4.16 Business Location. Each Borrower’s address set forth on Schedule
4.16 attached hereto and made part hereof is the location of such Borrower’s principal place of business and such address, together with the addresses set forth on Schedule 4.16 attached hereto and made part hereof, is the only
location where such Borrower keeps its records concerning the Collateral. The location of all other places of business of each Borrower and the names in which each Borrower conducts business at each such location are set forth in Schedule
4.16 attached hereto and made part hereof. 
 Section 4.17 Capital Stock. All of the issued and outstanding capital stock or
other ownership interest of each Borrower is owned as described on Schedule 4.17 attached hereto and made part hereof, and all such ownership interests are fully paid and non-assessable. 

Section 4.18 No Extension of Credit for Securities. No Borrower is, nor will it be, engaged principally or as one of its important
activities in the business of extending credit for the purpose of purchasing or carrying or trading in any margin stocks or margin securities (within the meaning of Regulations T, U and X of the Board of Governors of the Federal Reserve System) or
other securities, and no part of the proceeds of the Loan hereunder has been or will be applied for the purpose of purchasing or carrying or trading in any such stock or securities or of refinancing any credit previously extended, or of extending
credit to others, for the purpose of purchasing or carrying any such margin stock, margin securities or other securities in contravention of such Regulations. 

Section 4.19 Anti-Terrorism Laws. 

(a) No Borrower is in violation of any Anti-Terrorism Law or engages in or conspires to engage in any transaction that evades or avoids, or
has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 
 (b) No
Borrower or any of its respective agents acting or benefiting in any capacity in connection with the Loans or other transactions hereunder, is any of the following (each a “Blocked Person”): 

(i) a Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224; 

(ii) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to
the provisions of, Executive Order No. 13224; 
 (iii) a Person with which WFPC is prohibited from dealing or otherwise engaging in
any transaction by any Anti-Terrorism Law; 
 (iv) a Person that commits, threatens or conspires to commit or supports
“terrorism” as defined in Executive Order No. 13224; 

  
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 (v) a Person that is named as a “specially designated national” on the most current
list published by the U.S. Treasury Department Office of Foreign Asset Control at its official website; or 
 (vi) a Person who is known to
be affiliated or associated with a person or entity listed above. 
 (c) No Borrower (i) conducts any business or engages in making or
receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person, or (ii) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to Executive Order
No. 13224. 
 Section 4.20 Credit Card Agreements and Sale Agreements. Schedule 4.20 is a list of all Credit Card
Agreements and Sale Agreements as of the Closing Date. 
 ARTICLE 5 

CONDITIONS TO LOAN 

Section 5.1 Documents to be Delivered to Agent Prior to Effectiveness. Prior to the effectiveness of this Agreement, Borrowers shall
deliver or cause to be delivered to Agent (all documents to be in form and substance satisfactory to Agent in its sole and absolute discretion): 

(a) Credit Documents. This Agreement, the Notes, the Collateral Pledge Agreements (together with stock powers duly and properly
executed in blank and the original stock certificates evidencing the Equity Interests pledged thereunder) and all other Credit Documents duly and properly executed by the parties thereto; 

(b) Searches. Uniform Commercial Code, tax and judgment searches against each Borrower in those offices and jurisdictions as Agent
shall reasonably request which shall show that no financing statement, liens, or assignments or other filings have been filed or remain in effect against each Borrower or any Collateral except for Permitted Liens and those other Liens, financing
statements, assignments or other filings with respect to which the secured party or existing lender (i) has delivered to Agent Uniform Commercial Code termination statements or other documentation evidencing the termination of its Liens and
security interests in Collateral, (ii) has agreed in writing to release or terminate its Lien and security interest in Collateral upon receipt of proceeds of the Advances or (iii) has delivered a Subordination Agreement to Agent with
respect to its Lien and security interest in the Collateral, all in a form and substance satisfactory to Agent in its sole discretion; 

(c) Organizational Documents. 

(i) A copy of each Borrower’s (A) organization documents, certified as of a recent date by such Borrower’s secretary (or other
appropriate officer), and (B) bylaws, partnership agreement or operation agreement, as applicable, certified as of a recent date by such Borrower’s secretary (or other appropriate officer); together with certificates of good standing
existence or fact in such Borrower’s state of organization and in each jurisdiction in which such Borrower is qualified to do business, each dated within Thirty (30) days from the date of this Agreement; 

  
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 (ii) A copy of each Pledgor’s (unless if a Pledgor is an individual Person)
(A) organization documents, certified as of a recent date by such Pledgor’s secretary (or other appropriate officer), and (B) bylaws, partnership agreement or operation agreement, as applicable, certified as of a recent date by such
Pledgor’s secretary (or other appropriate officer); together with certificates of good standing existence or fact in such Pledgor’s state of organization and in each jurisdiction in which Pledgor’s is qualified to do business, each
dated within Thirty (30) days from the date of this Agreement; 
 (d) Authorization Documents. 

(i) A certified copy of resolutions of each Borrower’s board of directors, members, managers or partners, as applicable, authorizing the
execution, delivery and performance of the Notes, this Agreement and all other Credit Documents, the pledge of the Collateral to Agent as security for the Obligations made hereunder and the borrowing evidenced by the Notes and designating the
appropriate officers to execute and deliver the Credit Documents; 
 (ii) A certified copy of resolutions of Pledgor’s (unless if a
Pledgor is an individual Person) board of directors, members, managers or partners, as applicable, authorizing the execution, delivery and performance of the Collateral Pledge Agreement and the pledge of the collateral thereunder to Agent as
security for the Obligations and designating the appropriate officers to execute and deliver the Collateral Pledge Agreement; 
 (e)
Incumbency Certificates. 
 (i) A certificate of each Borrower’s secretary (or other appropriate officer) as to the incumbency
and signatures of officers of such Borrower signing this Agreement, the Notes and other Credit Documents; 
 (ii) A certificate of each
Pledgor’s (unless if a Pledgor is an individual Person) secretary (or other appropriate officer) as to the incumbency and signatures of officers of such Pledgor signing the Collateral Pledge Agreement; 

(f) Opinion of Counsel. Agent shall have received a written opinion of Borrowers’ and material Pledgors’ counsel addressed to
Agent and Lenders in form and substance satisfactory to Agent in its sole discretion; 
 (g) Officer’s Certificate. A
certificate, dated the date of this Agreement, signed by the President of each Borrower, to the effect that (i) all representations and warranties set forth in this Agreement are true and correct as of the date hereof in all material respects
and (ii) no Default or Event of Default hereunder has occurred, each Borrower’s seal being affixed to such certificate and each Borrower’s secretary attesting thereto; 

(h) Availability Statement/Request for Advance. A completed Availability Statement and Request for Advance; 

(i) Acknowledgment and Waiver Agreement. Acknowledgment and Waiver Agreements duly executed by the parties thereto no later than Sixty
(60) days from the Closing Date; 
 (j) Due Diligence. Completion of Agent’s due diligence of Borrowers and Pledgors
including due diligence with respect to Borrowers’ owners, key operators, and key management personnel with results satisfactory to Agent; 

  
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 (k) Financial Information. A copy of each of the reports required pursuant to
Section 6.2 of this Agreement for the period most recently ended prior to the date hereof; 
 (l) Subordination Documents.
Copies of the documents, instruments and writings evidencing the Subordinated Debt; 
 (m) Insurance. Evidence of insurance issued by
a reputable carrier with respect to each Borrower’s fire, casualty, liability, and other insurance covering its Property, and any key owner/operator insurance; 

(n) Data Tape. A data tape submitted as of the most recent month end; 

(o) Closing Agenda. Such other documents, information and reports listed on the Closing Agenda; and 

(p) Other Documents. Such additional documents as Agent reasonably may request. 

Section 5.2 Conditions to all Advances. The obligation of Lenders to make each subsequent Advance hereunder pursuant to
Section 2.1 is conditioned upon: 
 (a) Advance Requirements. Borrowers’ satisfaction of each of the conditions specified
in Sections 2.1 and 2.7; 
 (b) Representations and Warranties. The continuing accuracy of the representations and warranties
made by Borrowers under this Agreement in all respects; 
 (c) Event of Default or Default. The absence, after giving effect to such
Advance and the receipt of the proceeds thereof and the retirement of any indebtedness then being retired out of the proceeds of such Advance, of any Default or Event of Default. 

(d) Advance Amount. The aggregate amount of the requested Advance is not less than the lesser of Twenty Five Thousand Dollars ($25,000)
or the unborrowed balance of the Borrowing Base and shall be in multiples of Twenty Five Thousand Dollars ($25,000); and 
 (e) Material
Adverse Change. There has been no material adverse change in Borrowers’ financial condition, operations or business since the date of the monthly and audited annual financial statements most recently delivered by Borrowers to Agent pursuant
to this Agreement. 
 ARTICLE 6 

AFFIRMATIVE COVENANTS 

In addition to the covenants contained in Article 3 and 4 of this Agreement relating to the Collateral, until all Obligations have been
indefeasibly satisfied in full and the Commitments have expired or otherwise have been terminated, each Borrower covenants and agrees as follows: 

  
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 Section 6.1 Place of Business and Books and Records. Each Borrower will promptly advise
Agent in writing of (a) the establishment of any new places of business by such Borrower and of the discontinuance of any existing places of business of such Borrower; (b) the creation of any new Subsidiaries and (c) the acquisition
and or use of any trade name or trade style. 
 Section 6.2 Reporting Requirements. Borrowers will deliver to Agent (which Agent will
thereafter deliver to Lenders): 
 (a) within Twenty (20) days after the end of each month, company prepared consolidated and
consolidating financial statements of Borrowers’ business for such previous month, consisting of a balance sheet, income statement, and schedules as of the end of such month, all in reasonable detail, prepared in accordance with GAAP
consistently applied, subject to year-end adjustments, together with a covenant compliance certificate; 
 (b) within One Hundred Twenty
(120) days after the close of each fiscal year, consolidated and consolidating financial statements of Borrowers and their Subsidiaries for the fiscal year then ended consisting of a balance sheet, income statement, and statement of cash flow
of Borrowers their Subsidiaries as of the end of such fiscal year, all in reasonable detail, including all supporting schedules and footnotes, prepared in accordance with GAAP consistently applied, and shall be audited and certified without
qualification by an independent certified public accountant selected by Borrowers and acceptable to Agent and accompanied by the unqualified opinion of such accountant, a covenant compliance certificate and an Annual Compliance Certificate; and
cause Agent to be furnished at the time of completion thereof, a copy of any management letter for Borrowers prepared by such certified public accounting firm; 

(c) within Twenty (20) days after the end of each month, for the month then ending, reports in form and substance satisfactory to Agent,
setting forth an aging of Receivables, Schedule of Receivables and Assignment, an Availability Statement, summary listing of ineligible Receivables, static pool report, detailed delinquency report books and records consisting of data tape
information, and also such other documentation and information promptly after request therefor by Agent; 
 (d) upon request by Agent from
time to time, copies of Borrowers’ income tax returns (including any schedules attached thereto) filed with the Internal Revenue Service promptly after the filing thereof with the Internal Revenue Service; and 

(e) upon request by Agent from time to time, such other financial information and reports concerning Borrowers and their businesses and
property as Agent reasonably requests. 
 Section 6.3 Books and Records. Borrowers will keep accurate and complete Books and Records
concerning the Collateral and all transactions with respect thereto consistent with sound business practices (including, without limitation, accurately account for insurance commissions) and will comply with Agent’s reasonable requirements,
from time to time in effect, including those concerning the submission of reports on all items of Collateral including those which are deemed to be delinquent. The form of delinquency reports, the frequency with which such reports shall be submitted
to Agent (which in any case shall be no less frequently than monthly) and the standards for determining which Collateral transactions are deemed delinquent for this purpose, shall at all times be satisfactory to Agent. Agent shall have the right at
any time and from time to time during 

  
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regular business hours, at Borrowers’ sole cost and expense, to inspect, audit, and copy the Books and Records of Borrowers and inspect, audit and conduct appraisals of any Collateral;
provided, however, Borrowers shall not be responsible for the payment of such costs and expenses prior to the occurrence of an Event of Default or a Default. 

Section 6.4 Financial Covenants. At all times Borrowers shall maintain the following financial covenants: 

(a) EBITDA Ratio. An EBITDA Ratio of not less than: 

(i) 1.25 to 1 as of the end of each fiscal quarter commencing with the fiscal quarter ending June 30, 2011 through and including
December 31, 2011; 
 (ii) 1.50 to 1 as of the end of each fiscal quarter commencing with the fiscal quarter ending March 31,
2012 through and including June 30, 2012; 
 (iii) 1.75 to 1 as of the end of each fiscal quarter commencing with the calendar month
ending September 31, 2012 through and including the calendar month ending September 30, 2013; 
 (iv) 2.0 to 1 as of the end of
each fiscal quarter commencing with the fiscal quarter ending December 31, 2013 and thereafter. 
 (b) Senior Debt to Capital Base
Ratio. As of the end of each calendar month, a Senior Debt to Capital Base Ratio of not more than 2.0 to 1.0. 
 (c) Allowance for
Loan Losses. At all times the aggregate value of Borrowers’ allowance for loan losses (inclusive of deferred discounts and merchants’ and providers’ recourse reserves), as calculated in accordance with GAAP, shall not be less than
the greater of: 
 (i) Principal Receivables for the most recent month end multiplied by the rolling twelve (12) month ratio of net
charge-offs to average Principal Receivables during such twelve (12) month period; 
 (ii) Fifteen Percent (15.0%) of Principal
Receivables; 
 (iii) an amount pursuant to the recommendation of the independent certified public accountant auditing Borrowers’
financial statements. 
 (d) Charge off Policy. Receivables must be charged off (on a monthly basis) with respect to which no payment
due and owing thereunder has been made for a period that is equal to or greater than One Hundred Eighty (180) days, as determined on a contractual basis. 

(e) Collateral Performance Indicator. A Collateral Performance Indicator of less than or equal to Thirty Six Percent (36%). 

The determination of the financial covenants contained herein shall exclude any asset, liability, expense or income associated with Statement of Financial
Accounting Standard No. 133. Borrowers’ failure to comply with Section 6.4(c) or Section 6.4(d) shall not, in itself, constitute an Event of Default so long as such shortfalls are deducted, as contemplated by the terms of this
Agreement, in the determination of the other financial covenants contained herein. 

  
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 Section 6.5 Compliance With Applicable Law. 

(a) All Receivables shall comply in all material respects with all applicable federal, state and local laws, rules, regulations,
proclamations, statutes, orders and interpretations at the time when Agent obtains any interest therein pursuant to this Agreement. 
 (b)
Each Borrower shall comply in all material respects with all local, state and federal laws and regulations applicable to its business including without limitation the Consumer Finance Laws, (including complying with privacy notice requirements under
the Gramm-Leach-Bliley Act), Anti-Terrorism Laws, Environmental Control Statutes, and all laws and regulations of the Local Authorities, and the provisions and requirements of all franchises, permits, certificates of compliance and approval issued
by regulatory authorities and other like grants of authority held by Borrowers; and notify Agent immediately (and in detail) of any actual or alleged failure to comply with or perform, breach, violation or default under any such laws or regulations
or under the terms of any of such franchises or licenses, grants of authority, or of the occurrence or existence of any facts or circumstances which with the passage of time, the giving of notice or otherwise could create such a breach, violation or
default or could occasion the termination of any of such franchises or grants of authority. 
 (c) With respect to the Environmental Control
Statutes, Borrowers shall notify Agent when, in connection with the conduct of Borrowers’ business or operations, any Person (including, without limitation, EPA or any state or local agency) provides oral or written notification to any Borrower
or any Subsidiary with regard to an actual or imminently threatened removal, spill, release or discharge of hazardous or toxic wastes, substances or petroleum products; and notify Agent immediately (and in detail) upon the receipt by any Borrower of
an assertion of liability under the Environmental Control Statutes, of any actual or alleged failure to comply with or perform, breach, violation or default under any such statutes or regulations or of the occurrence or existence of any facts,
events or circumstances which with the passage of time, the giving of notice, or both, could create such a breach, violation or default. 

Section 6.6 Notice of Default. Borrowers will promptly notify Agent of the occurrence of any Default or Event of Default hereunder.

 Section 6.7 Existence, Properties. Borrowers will (a) do or cause to be done all things necessary to preserve and keep in
full force and effect its existence, rights and franchises and comply with all laws applicable to it; (b) maintain, preserve and protect all franchises, licenses and trade names and preserve all the remainder of its property used or useful in
the conduct of its business; and (c) maintain in effect insurance with responsible and reputable insurance companies or associations in such amounts and covering such risks as shall be consistent with prudent business practices in the industry
and furnish to Agent from time to time, upon their request therefor, evidence of same. 
 Section 6.8 Payment of Indebtedness; Taxes.
Borrowers will (a) pay all of their indebtedness and obligations promptly and in accordance with normal terms; and (b) pay and discharge or cause to be paid and discharged promptly all taxes, assessments, and governmental

  
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charges or levies imposed upon it or upon its income and profits, or upon any of its property, real, personal or mixed, or upon any part thereof, before the same shall become in default, as well
as all lawful claims for labor, materials and supplies or otherwise which, if unpaid, might become a lien or charge upon such properties or any part thereof; provided, however, that Borrowers shall not be required to pay and discharge or to
cause to be paid and discharged any such indebtedness, tax, assessment, charge, levy or claim so long as the validity thereof shall be contested in good faith by appropriate proceedings and Borrowers shall have set aside on their books adequate
reserves (as may be required in accordance with GAAP) with respect to any such indebtedness, tax, assessment, charge, levy or claim, so contested. 

Section 6.9 Notice Regarding Any Plan. Borrowers shall furnish to Agent: 

(a) as soon as possible, and in any event within Ten (10) days after any senior officer of Borrowers know or have reason to know that any
Reportable Event has occurred with respect to any Plan maintained in whole or in part for the employees of a Borrower or any of their Subsidiaries, a statement of the President or Treasurer of Borrowers setting forth details as to such Reportable
Event and the action which is proposed to be taken with respect thereto, together with a copy of the notice of such Reportable Event given to the PBGC; and 

(b) promptly after receipt thereof, a copy of any notice which a Borrower may receive from the PBGC relating to the intention of a Borrower to
terminate any Plan maintained in whole or in part for the benefit of employees of any Borrower or any of their Subsidiaries or to appoint a trustee to administer any such Plan. 

Section 6.10 Other Information. From time to time upon request of Agent, Borrowers will furnish to Agent such additional information
and reports regarding the Collateral and the operations, businesses, affairs, prospects and financial condition of Borrowers and their Subsidiaries as Agent may request. 

Section 6.11 Litigation. Borrowers will promptly notify Agent (a) of any litigation or action instituted or, to Borrowers’
knowledge, threatened in writing against any Borrower or any of their Subsidiaries, in an amount of One Hundred Thousand Dollars ($100,000) or more as to any separate action or litigation instituted or threatened or in an aggregate amount of Two
Hundred Thousand Dollars ($200,000) or more as to all actions or litigation instituted or threatened and (b) of the entry of any judgment or lien against any property of Borrower, in an amount of One Hundred Thousand Dollars ($100,000) or more
as to any separate judgment or lien entered or in an aggregate amount of Two Hundred Thousand Dollars ($200,000) or more as to all judgments or liens entered. 

Section 6.12 Business Location, Legal Name and State of Organization. Borrowers shall notify Agent at least Thirty (30) days prior
to: (a) any proposed change in a Borrower’s principal place of business, a Borrower’s legal name or a Borrower’s state of organization; (b) any additional places of business of any Borrower or any Subsidiaries; (c) the
change in the names in which a Borrower or any Subsidiary conducts business at each such location; and (d) the change of a Borrower’s jurisdiction of organization. Upon request of Agent, Borrowers will execute and deliver such additional
documents, instruments and writings, and take such other action as Agent shall request to obtain, maintain or continue its perfected and first priority Lien on and security interest in the Collateral. 

  
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 Section 6.13 Operations. Borrowers shall maintain satisfactory credit underwriting and
operating standards, including, with respect to each obligor of each Receivable, the completion of an adequate investigation of such obligor and a determination that the credit history and anticipated performance of such obligor is and will be
satisfactory in the ordinary course of Borrowers’ business in accordance with historic practice. 
 Section 6.14 Credit Card
Agreement and Sale Agreement. 
 (a) Borrowers shall at all times have and maintain a first perfected security interest in the
Collateral purchased under all Sale Agreements, superior in right of interest to any other Person (including, without limitation, purchasers from, or creditors or receivers or a trustee in bankruptcy) and each purchase under a Sale Agreement shall
be free and clear of all Liens. 
 (b) On or before April 30, 2012, Borrowers shall enter into a new Credit Card Agreement and Sale
Agreement with a Person reasonably acceptable to Agent (each to be in form and substance satisfactory to Agent). 
 Section 6.15 Further
Assurances. Borrowers shall from time to time execute and deliver to Agent such other documents and shall take such other action as may be requested by Agent in order to implement or effectuate the provisions of, or more fully perfect the rights
granted or intended to be granted by Borrowers to Agent pursuant to the terms of this Agreement, the Notes or any other Credit Documents. 

ARTICLE 7 

NEGATIVE COVENANTS 

Each Borrower covenants and agrees with Agent and Lenders that until all Obligations have been indefeasibly satisfied in full and the
Commitments have expired or otherwise have been terminated, no Borrower will do any of the following without the prior written consent of Agent: 

Section 7.1 Payments to and Transactions with Affiliates. (a) Make any loan, advance, extension of credit or payment to any
Affiliate, officer, employee, member, manager, shareholder or director of any Borrower or any Affiliate other than loans, advances and extensions of credit which do not exceed Fifty Thousand Dollars ($50,000) in the aggregate for all such loans,
advances and extensions of credit at any one time or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any
shareholder, officer, or employee of any Borrower or any Affiliate except for transactions with or services rendered to any Affiliate of a Borrower in the ordinary course of business and pursuant to the reasonable requirements of the business of
such Affiliate and upon terms found by the board of directors of a Borrower to be fair and reasonable and no less favorable to a Borrower than such Borrower would obtain in a comparable arms’ length transaction with a Person not affiliated with
or employed by a Borrower; provided, however, that Borrowers may in any event pay reasonable compensation to any such employee or officer in the ordinary course of Borrowers’ business consistent and commensurate with industry custom and
practice for the services provided by such Person. 
 Section 7.2 Restricted Payments. Make any Restricted Payment, except that a
Borrower may make (i) repurchases of treasury stock of such Borrower in an aggregate amount not to exceed 

  
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Two Hundred Fifty Thousand Dollars ($250,000) in an calendar year and (ii) regularly scheduled payments of principal and interest on the Subordinated Debt, so long as no Default or Event of
Default exists on the date of such repurchase or payment (after giving effect to the making of such payment). 
 Section 7.3
Indebtedness. Borrow any monies or create any Debt except for Permitted Indebtedness. 
 Section 7.4 Guaranties. Guaranty or
assume or agree to become liable in any way, either directly or indirectly, for any additional indebtedness or liability of others except to endorse checks or drafts in the ordinary course of business. 

Section 7.5 Nature of Business. Engage in any business other than the business in which such Borrower currently is engaged or make any
material change in the nature of the financings which such Borrower extends, (including without limiting the generality of the foregoing, matters relating to size, type, term, nature and dollar amount). 

Section 7.6 Negative Pledge. Assign, discount, pledge or grant a Lien in or encumber any Collateral. 

Section 7.7 Investments. Make any investments in any other Person; or enter into any new business activities or ventures not related to
such Borrower’s business existing as of Closing Date; or create or form any Subsidiary. 
 Section 7.8 Compliance with Formula.
Permit the aggregate amount of all Advances outstanding at any time to exceed the Borrowing Base. 
 Section 7.9 Acquisitions. Except
as provided in Section 7.14, acquire any Property from or Equity Interests in any Person. 
 Section 7.10 Use of Proceeds. Use
the proceeds of any loan or advance made by Agent or Lenders hereunder for purposes other than as permitted pursuant to this Agreement. 

Section 7.11 Amendment to Subordinated Debt. Amend or permit the amendment of the documents and instruments evidencing Subordinated
Debt or make any prepayment on account of such Subordinated Debt which is not otherwise allowed to be made under the subordination provisions applicable to such Subordinated Debt (including the applicable Subordination Agreements); provided however,
Borrowers may extend the maturity of any existing Subordinated Debt and all Subordinated Debt incurred from and after the date of this Agreement shall be on form promissory notes acceptable to Agent. 

Section 7.12 Credit Card Agreements and Sale Agreements. (a) Amend or permit the amendment of any Credit Card Agreement or any
Sale Agreement or (b) enter into any additional Credit Card Agreements or additional Sale Agreements other than those expressly contemplated in Section 4.20 and Section 6.14. 

Section 7.13 Senior Management. Allow a Borrower to be managed directly or indirectly by any Person other than senior management that
manage such Borrower as of the Closing Date or replacements reasonably acceptable to Agent. 

  
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 Section 7.14 Bulk Purchases. In any purchase transaction, purchase Receivables in an
aggregate amount exceeding One Hundred Thousand Dollars ($100,000) without prior written consent of Agent. 
 ARTICLE 8 

EVENTS OF DEFAULT 

Each of the following events shall constitute an Event of Default under this Agreement: 

Section 8.1 Failure to Make Payments. The failure of Borrowers to make any payment of principal or interest under the Notes or this
Agreement or any other payment hereunder or in respect of any other Obligation when due. 
 Section 8.2 Information, Representations and
Warranties. Any financial statement, written information furnished or representation or warranty, certificates, document or instrument made or given by any Borrower herein or furnished in connection herewith shall be false, misleading or
incorrect in any material respect the time made or deemed made or furnished, provided, however, that should any representation or warranty by Borrowers under Section 4.1(a) be false, misleading or incorrect with respect to the
Receivables, such default shall not, in itself, constitute an Event of Default so long as the aggregate amount of such Receivables failing to meet the representations and warranties in Section 4.1(a) at any time does not exceed Five Percent
(5.0%) of the Receivables. 
 Section 8.3 Covenants and Agreements. The failure of Borrowers to observe, perform or comply with
any covenant, agreement or provision of this Agreement or any other Credit Document. 
 Section 8.4 Collateral. Agent’s security
interest in and Lien upon any portion of the Collateral shall for any reason cease to be a valid and subsisting first priority and only security interest and Lien on such Collateral. 

Section 8.5 Defaults Under Other Agreements. Any default, breach by any Borrower under or termination of (a) any Credit Card
Agreement or any Sale Agreement or (b) any other agreement to which such Borrower is a party and with respect to which the amount claimed exceeds Two Hundred Fifty Thousand Dollars ($250,000). 

Section 8.6 Certain Events. The occurrence of any of the following with respect to any Borrower: 

(a) Voluntary Proceedings. It shall (i) apply for or consent to the appointment of a receiver, custodian, trustee or liquidator of
itself or of all or a substantial part of its property, (ii) be generally not paying its debts as such debts become due as defined in the United States Bankruptcy Code, (iii) make a general assignment for the benefit of its creditors,
(iv) commence a voluntary case under the Bankruptcy Code, (v) fail to controvert in a timely or appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or
(vi) take any action for the purpose of effecting any of the foregoing. 
 (b) Involuntary Proceeding. A proceeding or case
shall be commenced against it without its application or consent in any court of competent jurisdiction, seeking (i) the liquidation, reorganization, dissolution, winding up, or composition or readjustment of debts, of it, (ii) the

  
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appointment of a trustee, receiver, custodian, liquidator or the like for it or of all or any substantial part of its assets, or (iii) similar relief in respect of it under any law providing
for the relief of debtors, and such proceeding or case shall continue undismissed or unstayed and in effect, for a period of Forty Five (45) days, or an order for relief against it shall be entered in an involuntary case under the Bankruptcy
Code. 
 (c) Reportable and Other Events. (i) The occurrence of any Reportable Event which Agent determines in good faith
constitutes grounds for the termination of any Plan by the PBGC or for the appointment by the United States District Court of a trustee to administer any Plan; (ii) the institution by the PBGC of proceedings to terminate any Plan; or
(iii) the failure of Borrower, or any Subsidiary to meet the minimum funding standards established in Section 412 of the Internal Revenue Code of 1986, as amended. 

Section 8.7 Possession of Collateral. A judgment creditor of any Borrower shall take possession or file proceedings to attempt to take
possession of any of the Collateral by any means including without limitation, by levy, distraint, replevin, self-help, seizure or attachment. 

Section 8.8 Credit Documents. An event of default following the expiration of any cure period (however defined) shall occur under any
Credit Document or under any other security agreement, guaranty, mortgage, deed of trust, assignment or other instrument or agreement securing or supporting any obligation of any Borrower under this Agreement or under the Notes. 

Section 8.9 Hedging Agreements. Any default by Borrowers under any Hedging Agreement. 

Section 8.10 Material Adverse Change. A material adverse change in the business, operations, property (including the Collateral),
prospects or financial condition of any Borrower shall occur. 
 Section 8.11 Change of Ownership. The occurrence of a Change of
Ownership without the prior written consent of Agent. 
 ARTICLE 9 

REMEDIES OF AGENT AND WAIVER 

Section 9.1 Agent’s Remedies. Upon the occurrence of any Event of Default or Default, Agent may, or at the direction of Required
Lenders shall, cease making Advances hereunder. Upon the occurrence of an Event of Default, Agent may, or at the direction of Required Lenders shall, (i) immediately terminate this Agreement or (ii) declare the Obligations immediately due
and payable without presentment, notice of dishonor, protest or further notice of any kind, all of which Borrowers hereby expressly waive. Upon such occurrence and/or declaration, Agent shall have, in addition to the rights and remedies given to it
by the Notes, this Agreement and the other Credit Documents, all the rights and remedies of a secured party as provided in the UCC (regardless of whether such Code has been adopted in the jurisdiction where such rights and remedies are asserted) and
without limiting the generality of the foregoing, and without demand of performance and without other notice (except as specifically required by the Notes, this Agreement or the documents executed in connection herewith) or demand whatsoever to
Borrowers, all of which are hereby expressly waived, Agent may, in addition to all the rights conferred upon it by law, exercise one or more of the following rights successively or concurrently: (a) to take possession of the Collateral, or

  
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any evidence thereof, proceeding without judicial process or by judicial process (without a prior hearing or notice thereof, which Borrowers hereby expressly waive), (b) to lawfully dispose
of the whole or any part of the Receivables or any other Collateral, or any other personal Property, instrument or document pledged as security for any Obligation at public or private sale, without advertisement or demand upon Borrowers, or upon any
obligor of Receivables, the Collateral, or any other security, the same being hereby waived, except to the extent otherwise required by law, with the right on the part of Agent or their respective nominees to become the purchaser thereof as provided
by law absolutely freed and discharged from any equity of redemption, and all trusts and other claims whatsoever; (c) after deduction of all reasonable legal and other costs and expenses permitted by law, including attorneys’ fees, to
apply the Collateral or all or any portion of proceeds thereof on account of, or to hold as a reserve against, all Obligations; and (d) to exercise any other rights and remedies available to it by law or agreement. Any remainder of the proceeds
after indefeasible satisfaction in full of the Obligations shall be distributed as required by applicable law. Notice of any sale or disposition of Collateral shall be given to Borrowers at least Ten (10) days before any intended public sale or
the time after which any intended private sale or other disposition of the Collateral is to be made, which Borrowers agree shall be reasonable notice of such sale or other disposition. Notwithstanding the foregoing, upon the occurrence of an Event
of Default described in Section 8.6(a) or (b) hereof, the Commitments shall immediately terminate and the Loan made pursuant to this Agreement and all other Obligations, together with all accrued interest, shall be immediately due and
payable in full without presentment, demand, or protest or notice of any kind, all of which Borrowers hereby expressly waive. 
 Section 9.2
Waiver and Release by Borrowers. To the extent permitted by applicable law, each Borrower: (a) waives (i) presentment and protest of the Notes and this Agreement or any Receivables held by Agent on which any Borrower is any way
liable and (ii) notice and opportunity to be heard, after acceleration in the manner provided in Article 9 of this Agreement, before exercise by Agent of the remedies of self-help or set-off permitted by law or by any agreement with any
Borrower, and except where required hereby or by law, notice of any other action taken by Agent; and (b) releases Agent, Lenders and their respective officers, attorneys, agents and employees from all claims for loss or damage caused by any act
or omission on the part of Agent, Lenders or their respective officers, attorneys, agents and employees, except willful misconduct or gross negligence. 

Section 9.3 No Waiver. Neither the failure nor any delay on the part of Agent or any Lender to exercise any right, power or privilege
under the Notes or this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege preclude any other further exercise of any right, power or privilege. 

Section 9.4 Application of Proceeds. Notwithstanding any other provisions of this Agreement or any other Credit Document to the
contrary, following acceleration of the Obligations after the occurrence of an Event of Default, all amounts collected or received by Agent or any Lender on account of the Obligations (whether in an insolvency or bankruptcy case or proceeding or
otherwise) or any other amounts outstanding under any of the Credit Documents or in respect of the Collateral shall be paid over or delivered as follows: 

FIRST, to the payment of all costs, fees, expenses, and other amounts owing to Agent, pursuant to Section 10.7, in
connection with enforcing the rights of Agent and Lenders under the Credit Documents, any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of the Credit Documents; 

  
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 SECOND, to payment of any costs, fees or expenses owed to Agent or to any WFPC
Affiliate hereunder or under any other Credit Document; 
 THIRD, to the payment of all costs, fees, expenses of each of
Lenders owing hereunder in connection with enforcing its rights under the Credit Documents; 
 FOURTH, to the payment of all
Obligations consisting of accrued fees and interest payable to Lenders hereunder (excluding amounts relating to Bank Products); 

FIFTH, to the payment of the outstanding principal amount of the Obligations (excluding amounts relating to Bank Products);

 SIXTH to the payment of all liabilities and obligations now or hereafter arising from or in connection with respect to
any Bank Products, any fees, premiums and scheduled periodic payments due with respect thereto and any interest accrued thereon; 

SEVENTH, to all other Obligations which shall have become due and payable under the Credit Documents and not repaid pursuant
to clauses “FIRST” through ‘SIXTH” above; and 
 EIGHTH, to the payment of the surplus, if any, to
whoever may be lawfully entitled to receive such surplus. 
 In carrying out the foregoing, (a) amounts received shall be applied in the numerical
order provided until exhausted prior to application to the next succeeding category; and (b) each of Lenders shall receive an amount equal to its pro rata share (based on the proportion that its then outstanding Loans and Obligations
outstanding of amounts available to be applied pursuant to clauses “THIRD,” “FOURTH,” “FIFTH,” “SIXTH” and “SEVENTH” above. 

ARTICLE 10 

MISCELLANEOUS 

Section 10.1 Indemnification and Release Provisions. Each Borrower hereby agrees to defend Agent, Lenders and their directors,
officers, agents, employees and attorneys from, and hold each of them harmless against, any and all losses, liabilities (including without limitation settlement costs and amounts, transfer taxes, documentary taxes, or assessments or charges made by
any governmental authority), claims, damages, interests, judgments, costs, or expenses, including without limitation, reasonable fees and disbursements of attorneys, incurred by any of them arising out of or in connection with or by reason of this
Agreement, the making of the Loan or any Collateral, or any other Credit Document, or related transaction, including without limitation, any and all losses, liabilities, claims, damages, interests, judgments, costs or expenses relating to or arising
under any Consumer Finance Laws or Environmental Control Statute or the application of any such statute to Borrowers’ properties or assets. Each Borrower hereby releases Agent, Lenders and their respective directors, officers, agents, employees
and attorneys from any and all claims for loss, damages, costs or expenses caused or alleged to be caused by any act or omission on the part of any of them, other 

  
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than such loss, damage cost or expense which has been determined by a court of competent jurisdiction to have been caused by the gross negligence or willful misconduct of Agent and Lenders. All
obligations provided for in this Section 10.1 shall survive any termination of this Agreement or the Commitments and the repayment of the Loan. 

Section 10.2 Amendments. 

(a) Neither the amendment nor waiver of any provision of this Agreement or any other Credit Document, nor the consent to any departure by
Borrowers therefrom, shall in any event be effective unless the same shall be in writing and signed by the Required Lenders, or if Lenders shall not be parties thereto, by the parties thereto and consented to by the Required Lenders, and each
such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided that no amendment, waiver or consent shall unless in writing and signed by all Lenders, do any of the
following: (a) modify the definition of Maximum Principal Amount, (b) modify the Commitments of Lenders or subject Lenders to any additional obligations, (c) except as otherwise expressly provided in this Agreement, reduce the
interest on any Note, (d) postpone any date fixed for any payment in respect of principal of, or interest on, any Note or any fees hereunder, (e) change the percentage of the Commitments, or any minimum requirement necessary for Lenders or
the Required Lenders to take any action hereunder, (f) amend or waive this Section 10.2, or change the definition of Required Lenders, (g) except as otherwise expressly provided in this Agreement, and other than in connection with the
financing, refinancing, sale or other disposition of any Property of Borrowers permitted under this Agreement, release any Liens in favor of Lenders on any portion of the Collateral, (h) permit Borrowers to delegate, transfer or assign any of
its, his or her obligations to any Lender, (i) release or compromise the obligations of Borrowers to any Lender, or (j) amend the definition of “Advance Rate” or “Borrowing Base” (or any defined term used in either such
definition), or increase any advance rate, and, provided, further, that no amendment, waiver or consent affecting the rights or duties of Agent under any Credit Document shall in any event be effective, unless in writing and signed by
Agent, as applicable, in addition to Lenders required hereinabove to take such action. Notwithstanding any of the foregoing to the contrary, the consent of Borrowers shall not be required for any amendment, modification or waiver of the provisions
of Article 11. In addition, Borrowers and Lenders hereby authorize Agent to modify this Agreement by unilaterally amending or supplementing Schedule I from time to time in the manner requested by Borrowers, Agent or any Lender in order to
reflect any assignments or transfers of the Loans as provided for hereunder; provided, however, that Agent shall promptly deliver a copy of any such modification to Borrowers and each Lender. Without regard to any other provision hereof, if
any Lender (for such purpose, a “Dissenting Lender”) dissents to any action Agent desires to take requiring either the unanimous consent of Lenders or the consent of Required Lenders or fails to respond to Agent within Five
(5) Business Days of Agent’s request for a consent, either Borrowers (if no Event of Default or Default is outstanding and with the prior written consent of Agent, in its sole and absolute discretion) or Agent may compel such Dissenting
Lender to assign its entire Commitment (either to one or more existing Lenders or other financial institution(s) who is to become a Lender pursuant to the terms hereof) so long as (i) such Dissenting Lender receives written notice of such
intended assignment (and the proposed effective date thereof) within One Hundred Twenty (120) days of its providing its dissent to Agent or such Dissenting Lender failing to respond to Agent within the required Five (5) Business Day period
and the effective date of such intended assignment is not later than Ten (10) days thereafter and (ii) the Dissenting Lender receives full payment on the effective date of such assignment of its entire portion of the outstanding
Obligations, with accrued interest and unpaid fees to such date (but excluding any otherwise applicable early termination fee under Section 2.8(a) hereof). 

  
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 (b) Notwithstanding anything contained in clause (a) above, any other provision of this
Agreement or whether there exists a Default or Event of Default, Agent may at its discretion and without the consent of Required Lenders, voluntarily permit the outstanding Advances at any time to exceed the Borrowing Base by up to Five Percent
(5.0%) of the Borrowing Base, but in no event in excess of the Maximum Principal Amount (the “Out of Formula Loans”). 

(c) If Agent is willing in its sole and absolute discretion to permit such Out of Formula Loans, such Out of Formula Loans shall be payable on
demand and shall bear interest at Two and a Half Percent (2.50%) per annum above the rate otherwise applicable to the Advances; provided, however, that, if Agent, on behalf of Lenders, permits Out of Formula Loans (and thereafter
continues to make, on behalf of Lenders, Advances under such conditions), neither Agent nor Lenders shall be deemed to have changed the limits contained in Section 2.1. 

Section 10.3 APPLICABLE LAW. THIS AGREEMENT AND ALL DOCUMENTS EXECUTED IN CONNECTION HEREWITH SHALL BE DEEMED TO HAVE BEEN
MADE AND TO BE PERFORMABLE IN THE STATE OF IOWA AND SHALL, TOGETHER WITH ALL MATTERS ARISING HEREUNDER OR RELATED HERETO, BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF IOWA. 

Section 10.4 Notices. All communications provided for hereunder shall be in writing and shall be deemed to have been delivered, if
delivered in person, or sent by certified mail, postage pre-paid, return receipt requested, by reliable overnight courier or by facsimile, as follows: 

If to Agent: 
 Wells Fargo
Preferred Capital, Inc. 
 123 South Broad Street, 7th Floor 

MAC: Y1379-075 
 Philadelphia,
Pennsylvania 19109 
 Attn: Mr. William M. Laird, Senior Vice President 

Facsimile: (215) 670-6120 

With a copy to: 
 Blank Rome LLP

 One Logan Square 

Philadelphia, Pennsylvania 19103 

Attn: Kevin J. Baum, Esquire 

Facsimile: (215) 832-5612 

If to Borrowers: 
 Dent-A-Med
Inc. 
 203 East Emma Avenue 

Springdale, Arkansas 72764 
 Attn:
Mr. Cliff Scogin 
 Facsimile: (479) 751-9055 

  
 44 

 With a copy to: 

Conner & Winters, LLP 

4000 One Williams Center 
 Tulsa,
Oklahoma 74172 
 Attn: Gentra Abbey Sorem, Esquire 

Facsimile: (918) 586-8696 

If to any Lender: 
 To the
address set forth on Schedule I 
 or to such other address as any party shall specify to the other party in writing in accordance with this
Section 10.4. 
 Section 10.5 Termination and Release. This Agreement shall not terminate until all amounts due under the Notes,
this Agreement and any other Credit Document and other Obligations, together with all interest and costs due, shall have been indefeasibly paid in full and the Commitments have expired or otherwise have been terminated. Upon such termination and
payment of amounts owing under this Agreement, the Collateral securing the Loan, the Notes, this Agreement and the other Obligations shall be released from the provisions of this Agreement and any right, title and interest of Agent in or to the same
shall cease. Thereafter, Agent agrees to deliver to Borrowers such documents as Borrowers are required to release of record any security interest or lien of Agent in the Collateral. 

Section 10.6 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and
it shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart. Signature by facsimile or electronic transmission shall bind the parties hereto. 

Section 10.7 Costs, Expenses and Taxes. Borrowers agree to pay immediately upon demand out-of-pocket expenses and reasonable legal fees
of Agent related to the preparation, negotiation, documentation, execution, filing or delivery of this Agreement or any other Credit Document and any and all waivers, amendments or modifications of any of the Credit Documents or any of the terms and
provisions thereof and any and all audits and required inspections permitted under this Agreement or any other Credit Documents. Borrowers shall also pay immediately upon demand therefor all fees (including without limitation, legal fees and
expenses), costs and other expenses incurred in connection with collection of the Loan, the maintenance or preservation of the security interest in the Collateral, the sale, disposition or other realization on the Collateral, or the enforcement of
Agent’s and Lenders’ rights hereunder or under any Credit Document, including, without limitation, such fees, costs and expenses incurred by Agent which Agent, in its reasonable business judgment, deems reasonably necessary to preserve or
protect the business conducted by Borrowers, the Collateral, or any portion thereof. In addition, Borrowers shall also pay any and all 

  
 45 

 
stamp and other taxes or filing fees payable or determined to be payable in connection with the execution and delivery of the Notes and this Agreement, the Collateral and other documents to be
delivered hereunder, and agrees to save Agent and Lenders harmless from and against any and all liabilities with respect to or resulting from any delay in payment or omission to pay such taxes. 

Section 10.8 Participations and Assignments. 

(a) This Agreement shall bind and inure to the benefit of each signatory, its successors and assigns; provided, however that, Borrowers
shall not have the right to assign or delegate their obligations and duties under this Agreement or any other Credit Documents or any interest therein except with the prior written consent of Agent and Lenders. 

(b) Notwithstanding subsection (c) of this Section 10.8, nothing herein shall restrict, prevent or prohibit any Lender from
(i) pledging its Loans hereunder to a Federal Reserve Bank in support of borrowings made by such Lender from such Federal Reserve Bank or (ii) granting assignments or participations in such Lender’s Loans hereunder to its parent
and/or to any affiliate of such Lender or to any existing Lender or affiliate thereof. Any Lender may make, carry or transfer Loans at, to or for the account of, any of its branch offices or the office of an affiliate of such Lender except to the
extent such transfer would result in increased costs to Borrower. 
 (c) Each Lender may, with the prior written consent of Agent and (if no
Default or Event of Default is outstanding) with the consent of Borrowers, assign to one or more banks or other financial institutions all or a portion of its rights and obligations under this Agreement and the Notes. In connection with each
assignment: (i) the parties thereto shall execute and deliver to Agent, for its acceptance (if properly completed and executed in accordance with the terms hereof) and recording in its books and records, an Assignment and Acceptance, together
with any Note or Notes subject to such assignment and a processing and recordation fee of Three Thousand Five Hundred Dollars ($3,500) to be paid by the assignee, (ii) no such assignment shall be for less than Twenty Million Dollars
($20,000,000) or, if less, the entire remaining Commitment of such Lender, each such assignment shall be of a uniform, and not a varying, percentage of all rights and obligations under and in respect of both the Commitment of such Lender and all
Loans of such Lender. Upon such execution and delivery of the Assignment and Acceptance to Agent, from and after the date specified as the effective date in the Assignment and Acceptance (“Acceptance Date”), (x) the assignee
thereunder shall be a party hereto, and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, such assignee shall have the rights and obligations of a Lender hereunder and
(y) the assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights (other than any rights it may have pursuant to Section 10.1
which will survive) and be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto). 
 (d) Within Two (2) Business Days after demand by Agent, Borrowers shall execute and
deliver to Agent in exchange for any surrendered Note or Notes (which the assigning Lender agrees to promptly deliver to Borrowers) a new Note or Notes to the order of the assignee in an amount equal to the Commitment assumed by it pursuant to such
Assignment and Acceptance and, if the assigning Lender has retained a Commitment hereunder, a new Note or Notes to the order of the assigning Lender in an amount equal to the Commitment retained by it hereunder.

  
 46 

 
Such new Note or Notes shall re-evidence the indebtedness outstanding under the old Notes or Notes and shall be in an aggregate principal amount equal to the aggregate principal amount of such
surrendered Note or Notes and shall otherwise be in substantially the form of the Note or Notes subject to such assignments. 
 (e) Each
Lender may, with the prior written consent of Agent, but without the consent of any other Lender or Borrowers, sell participations to one or more parties (a “Participant”) in or to all or a portion of its rights and obligations
under this Agreement (including, without limitation, all or a portion of its Commitments, the Loans owing to it and the Note or Notes held by it); provided that if such Lender obtains the consents required under this clause (e) then
(i) such Lender’s obligations under this Agreement (including, without limitation, its Commitment to Borrowers hereunder) shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the
performance of such obligations, (iii) such Lender shall remain the holder of any such Note for all purposes of this Agreement, (iv) Borrowers, Agent, and the other Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement and (v) such Lender shall not transfer, grant, assign or sell any participation under which the Participant shall have rights to approve any amendment or waiver of
this Agreement. 
 (f) Each Lender agrees that, without the prior written consent of Borrowers and Agent, it will not make any assignment or
sell a participation hereunder in any manner or under any circumstances that would require registration or qualification of, or filings in respect of, any Advance, Note or other Obligation under the securities laws of the United States of America or
of any jurisdiction. 
 (g) In connection with the efforts of any Lender to assign its rights or obligations or to participate interests,
Agent or such Lender may disclose any information in its possession regarding Borrowers, their finances and/or Collateral. By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the assignee thereunder confirm
to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other Loan Document furnished pursuant hereto;
(ii) such assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrowers or the performance or observance by the Borrowers of any of their obligations under this
Agreement or any other Loan Document furnished pursuant hereto; (iii) such assignee confirms that it has received a copy of this Agreement, together with such other documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into such Assignment and Acceptance; (iv) such assignee will, independently and without reliance upon Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (v) such assignee appoints and authorizes Agent to take such action as agent on its behalf and to exercise such powers under
this Agreement as are delegated to Agent by the terms hereof, together with such powers as are reasonably incidental thereto; and (vi) such assignee agrees that it will perform in accordance with their terms all of the obligations which by the
terms of this Agreement are required to be performed by it as a Lender. 

  
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 Section 10.9 Effectiveness of Agreement. Anything to the contrary in this Agreement
notwithstanding, the provisions hereof shall not be effective until this Agreement is: (a) duly executed, and delivered by authorized officers of Borrowers to Agent; and (b) duly signed by an authorized officer of Agent. 

Section 10.10 JURISDICTION AND VENUE. IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER ARISING OUT OF OR
RELATED TO THIS AGREEMENT OR ANY CREDIT DOCUMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER, BORROWERS HEREBY IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED IN POLK COUNTY, IOWA AND AGREE NOT TO RAISE ANY
OBJECTION TO SUCH JURISDICTION OR TO THE LAYING OR MAINTAINING OF THE VENUE OF ANY SUCH PROCEEDING IN SUCH COUNTY. BORROWERS AGREE THAT SERVICE OF PROCESS IN ANY SUCH PROCEEDING MAY BE DULY EFFECTED UPON IT BY MAILING A COPY THEREOF, BY REGISTERED
MAIL, POSTAGE PREPAID, TO BORROWERS. 
 Section 10.11 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY
JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY CREDIT DOCUMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER. THIS
PROVISION IS A MATERIAL INDUCEMENT FOR AGENT AND LENDERS TO ENTER INTO THIS AGREEMENT. 
 Section 10.12 REVIEW BY COUNSEL. BORROWERS
ACKNOWLEDGE THAT THEY HAVE HAD THE ASSISTANCE OF COUNSEL IN THE REVIEW AND EXECUTION OF THIS AGREEMENT AND, SPECIFICALLY, SECTIONS 10.10 AND 10.11 HEREOF, AND FURTHER ACKNOWLEDGE THAT THE MEANING AND EFFECT OF THE FOREGOING WAIVER OF JURISDICTION
AND VENUE OBJECTION AND JURY TRIAL HAVE BEEN FULLY EXPLAINED TO BORROWERS BY THEIR COUNSEL. 
 Section 10.13 Exchanging Information.
Agent, Lenders, Wells Fargo & Company, Wells Fargo Financial, Inc. and all direct and indirect subsidiaries of Agent, Lenders, Wells Fargo & Company or Wells Fargo Financial, Inc. may exchange and share any and all information they
may have in their possession regarding Borrowers and their Affiliates with Agent’s and Lenders’ prospective participants, affiliates, accountants, lawyers and other advisors, Agent, Lenders, Wells Fargo & Company, Wells Fargo
Financial, Inc. and all direct and indirect subsidiaries of Agent, Lenders, Wells Fargo & Company or Wells Fargo Financial, Inc., and Borrowers waive any right of confidentiality it may have with respect to such exchange of such
information. 
 Section 10.14 Patriot Act Notice. Agent hereby notify Borrowers that pursuant to the requirements of the Patriot Act,
Agent and Lenders are required to obtain, verify and record information that identifies Borrowers, including their legal names, address, tax ID numbers and other information that will allow Agent and Lenders to identify Borrowers in accordance with
the Patriot Act. 
 Section 10.15 Acknowledgment of Receipt. Each Borrower acknowledges receipt of a copy of this Agreement, the
Notes, each Credit Document and each other document and agreement executed by Borrowers in connection with the Agreement or the Obligations. 

  
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 Section 10.16 Advertisement. Each Lender and each Borrower hereby authorizes Agent to
publish the name of such Lender and Borrower, the existence of the financing arrangements referenced under this Agreement, the primary purpose and/or structure of those arrangements, the title and role of each party to this Agreement and the total
amount of the financing evidenced hereby in any “tombstone”, comparable advertisement or press release which Agent elects to submit for publication (“Press Release”). With respect to any of the foregoing, Agent shall
provide Lenders and Borrowers with an opportunity to review and confer with Agent regarding the contents of any Press Release prior to its submission for publication. 

ARTICLE 11 

AGENT 
 Section 11.1
Appointment of Agent. 
 (a) Each Lender hereby designates Wells Fargo Preferred Capital, Inc. as Agent to act as herein specified.
Each Lender hereby irrevocably authorizes, and each holder of any Note by the acceptance of a Note or participation, shall be deemed irrevocably to authorize Agent to take such action on its behalf under the provisions of this Agreement and the
Notes and any other Credit Documents and to exercise such powers and to perform such duties hereunder and thereunder as are specifically delegated to or required of Agent by the terms hereof and thereof and such other powers as are reasonably
incidental thereto. Agent shall hold all Collateral and all payments of principal, interest, fees (other than any fees payable solely for the account of Agent), charges and expenses received pursuant to this Agreement or any other Credit Document
for the ratable benefit of Lenders except as otherwise provided herein. Agent may perform any of its duties hereunder by or through its agents or employees. 

(b) The provisions of this Article 11 are solely for the benefit of Agent and Lenders, and Borrowers shall not have any rights as a third
party beneficiary of any of the provisions hereof (except for the applicable provision of Section 11.9(a)). In performing its functions and duties under this Agreement, Agent shall act solely as agent of Lenders and does not assume and shall
not be deemed to have assumed any obligation toward or relationship of agency or trust with or for Borrowers. 
 Section 11.2 Nature of
Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in this Agreement. Neither Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it as
such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this Agreement a fiduciary
relationship in respect of any Lender; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement except as expressly set forth herein. 

Section 11.3 Lack of Reliance on Agent. 

(a) Independently and without reliance upon Agent, each Lender, to the extent it 

  
 49 

 
deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial or other condition and affairs of Borrowers in connection with the taking or not
taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of Borrowers, and, except as expressly provided in this Agreement, Agent shall have no duty or responsibility, either initially or on a continuing
basis, to provide any Lender with any credit or other information with respect thereto, whether coming into its possession before the making of Advances or at any time or times thereafter. In addition to the foregoing, Agent agrees to provide
summary reports to Lenders in connection with inspections and audits performed under Section 6.3 for informational purposes only and Agent shall not be responsible for the accuracy of any information contained therein. 

(b) Agent shall not be responsible to any Lender for any recitals, statements, information, representations or warranties herein or in any
document, certificate or other writing delivered in connection herewith or for the execution, effectiveness, genuineness, validity, enforceability, collectibility, priority or sufficiency of this Agreement, the Notes, the Credit Documents or the
financial or other condition of Borrowers. Agent shall not be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes, or the financial condition of
Borrowers, or the existence or possible existence of any Default or Event of Default, unless specifically requested to do so in writing by any Lender. 

Section 11.4 Certain Rights of Agent. Without limiting Agent’s rights and discretion under any provision hereof, Agent shall have
the right to request instructions from the Required Lenders or, as required, each of Lenders. If Agent shall request instructions from the Required Lenders or each of Lenders, as the case may be, with respect to any act or action (including the
failure to act) in connection with this Agreement, Agent shall be entitled to refrain from such act or taking such action unless and until Agent shall have received instructions from the Required Lenders or each of Lenders, as the case may be, and
Agent shall not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no Lender shall have any right of action whatsoever against Agent as a result of Agent acting or refraining from acting hereunder in accordance
with the instructions of the Required Lenders or each of Lenders, as the case may be. 
 Section 11.5 Reliance by Agent. Agent shall
be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, statement, certificate, facsimile, telex teletype or telecopier message, e-mail or other electronic transmission, cablegram, radiogram, order
or other documentary, teletransmission or telephone message believed by it to be genuine and correct and to have been signed, sent or made by the proper person. Agent may consult with legal counsel (including counsel for Borrowers with respect to
matters concerning Borrowers), independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with the advice of such counsel, accountants or
experts. 
 Section 11.6 Indemnification of Agent. To the extent Agent is not reimbursed and indemnified by Borrowers, each Lender
will reimburse and indemnify Agent, in proportion to its respective Commitment, for and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including reasonable counsel fees and
disbursements) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against Agent in any way relating to or arising out of this Agreement, provided that no Lender shall be liable for any portion of such
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting solely from Agent’s gross negligence or willful misconduct. 

  
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 Section 11.7 Agent in its Individual Capacity. With respect to its obligation to lend
under this Agreement, the Advances made by it and the Notes issued to it and all of its rights and obligations as a Lender hereunder and under other Credit Documents, Agent shall have the same rights and powers hereunder as any other Lender or
holder of a Note or participation interests and may exercise the same as though it was not performing the duties specified herein; and the terms “Lenders”, “Required Lenders”, “holders of Notes”, or any similar terms
shall, unless the context clearly otherwise indicates, include Agent in its individual capacity. Agent may accept deposits from, lend money to, acquire Equity Interests in, and generally engage in any kind of banking, trust, financial advisory or
other business with Borrowers or any Affiliate of Borrowers as if it were not performing the duties specified herein, and may accept fees and other consideration from Borrowers for services in connection with this Agreement and otherwise without
having to account for the same with Lenders. 
 Section 11.8 Holders of Notes. Agent may deem and treat the payee of any Note as the
owner thereof for all purposes hereof unless and until a written notice of the assignment or transfer thereof shall have been filed with Agent. Any request, authority or consent of any Person who, at the time of making such request or giving such
authority or consent, is the holder of any Note, shall be conclusive and binding on any subsequent holder, transferee or assignee of such Note or of any Note or Notes issued in exchange therefor. 

Section 11.9 Successor Agent. 

(a) Agent may, upon Five (5) Business Days notice to Lenders and Borrowers, resign at any time (effective upon the appointment of a
successor Agent pursuant to the provisions of this Section 11.9(a)) by giving written notice thereof to Lenders and Borrowers. Upon any such resignation, the Required Lenders shall have the right, upon Five (5) days notice, to appoint a
successor Agent. If no successor Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within Thirty (30) days after the retiring Agent’s giving of notice of resignation, then, upon Five
(5) days notice, the retiring Agent may, on behalf of Lenders, appoint a successor Agent, which shall be a bank or other financial institution which maintains an office in the United States, or a commercial bank organized under the laws of the
United States of America or of any State thereof, or any affiliate of such bank or trust or other financial institution which is engaged in the banking business, having a combined capital and surplus of at least Five Hundred Million Dollars
($500,000,000); provided, however, that Required Lenders may, upon Five (5) days notice, replace any such successor Agent appointed by a retiring Agent. 

(b) Upon the acceptance of any appointment as Agent hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become
vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations under this Agreement. After any retiring Agent’s resignation hereunder as Agent, the
provisions of this Article 11 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement. In the event Agent or its assets are taken over by any state or federal agency having jurisdiction
over Agent or its assets, a majority of the Lenders other than Agent may appoint a successor to Agent. 

  
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 Section 11.10 Collateral Matters. 

(a) Each Lender authorizes and directs Agent to accept the other Credit Documents for the benefit of Lenders. Agent is hereby authorized, on
behalf of all Lenders, without the necessity of any notice to or further consent from any Lender, from time to time prior to an Event of Default, to take any action, in its sole discretion, with respect to any Collateral or Credit Document which may
be necessary or appropriate to perfect and maintain perfected or enforce the Liens upon the Collateral granted pursuant to this Agreement. 

(b) Lenders hereby authorize Agent, at its option and in its discretion, to release any Lien granted to or held by Agent upon any Collateral
(i) upon termination of the Commitments and payment in immediately available funds and satisfaction of all of the Obligations at any time arising under or in respect of this Agreement or the Credit Documents or the transactions contemplated
hereby or thereby, (ii) constituting Collateral being sold or disposed of upon receipt of the proceeds of such sale by Agent if the sale or disposition is permitted under this Agreement or any other Credit Document or is made by Agent in the
enforcement of its rights hereunder following the occurrence of an Event of Default or (iii) if approved, authorized or ratified in writing by the Required Lenders, unless such release is required to be approved by all Lenders hereunder;
provided, however, that Agent may, in its discretion, upon request by Borrowers, release Agent’s Liens on Collateral value in the aggregate not in excess of Five Million Dollars ($5,000,000) during any one year period without the prior
written approval or authorization of any of the other Lenders. Upon request by Agent at any time, Lenders will confirm in writing Agent’s authority to release particular types or items of Collateral pursuant to this Section 11.10(b). 

(c) Agent shall have no obligation whatsoever to Lenders or to any other Person to assure that the Collateral exists or is owned by Borrowers
or is cared for, protected or insured or that the Liens granted to Agent herein or pursuant hereto have been properly or sufficiently or lawfully created, perfected, protected or enforced or are entitled to any particular priority, or to exercise or
to continue exercising at all or in any manner or under any duty of care, disclosure or fidelity any of the rights, authorities and powers granted or available to Agent in this Section 11.10 or in any of the Credit Documents, it being
understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, Agent may act in any manner it may deem appropriate, in its sole discretion, given Agent’s own interest in the Collateral as one of Lenders
and that Agent shall have no duty or liability whatsoever to Lenders, except for its gross negligence or willful misconduct. 
 Section
11.11 Delivery of Information. Agent shall not be required to deliver to any Lender originals or copies of any documents, instruments, agreements, notices, communications or other information received by Agent from Borrowers, the Required
Lenders, any Lender or any other Person under or in connection with this Agreement or any other Credit Document except (a) as specifically provided in this Agreement or any other Credit Document and (b) as requested from time to time in
writing by any Lender with respect to documents, instruments, notices or other written communications from Borrowers received by and in the possession of Agent. 

Section 11.12 Defaults. Agent shall not be deemed to have knowledge of the occurrence of a Default or Event of Default (other than the
non-payment of principal of or interest on the Loan to the extent the same is required to be paid to Agent for the account of Lenders) unless Agent has actual knowledge thereof or has received notice from a Lender or Borrowers specifying such
Default 

  
 52 

 
or Event of Default and stating that such notice is a “Notice of Default.” In the event that Agent has such knowledge of or receives such a notice of the occurrence of a Default or
Event of Default, Agent shall give prompt notice thereof to Lenders. Agent shall (subject to Article 9) take such action with respect to such Default or Event of Default or refrain from taking such action, with respect to such Default or Event of
Default as Agent shall deem advisable in the best interest of Lenders and shall, without limiting Agent’s rights or discretion under this Agreement, use reasonable efforts under the circumstances to consult with Lenders before taking any
material enforcement action; and provided further that Agent shall not be required to take any such action which it determines to be contrary to law. 

ARTICLE 12 

INTER-BORROWER PROVISIONS 

Section 12.1 Certain Borrower Acknowledgments and Agreements. 

(a) Each Borrower acknowledges that it will enjoy significant benefits from the business conducted by the other Borrowers because of,
inter alia, their combined ability to bargain with other Persons including without limitation their ability to receive this credit facility on favorable terms granted by this Agreement and other Credit Documents which would not have
been available to an individual Borrower acting alone. Each Borrower has determined that it is in its best interest to procure this credit facility which each Borrower may utilize directly and which receive the credit support of the other Borrowers
as contemplated by this Agreement and the other Credit Documents. 
 (b) Agents and Lenders have advised Borrowers that they are unwilling
to enter into this Agreement and the other Credit Documents and make available this credit facility extended hereby to any Borrower unless each Borrower agrees, among other things, to be jointly and severally liable for the due and proper payment of
the Obligations of each other Borrower under this Agreement and other Credit Documents. Each Borrower has determined that it is in its best interest and in pursuit of its purposes that it so induce Agents and Lenders to extend credit pursuant to
this Agreement and the other Credit Documents executed in connection herewith (i) because of the desirability to each Borrower of this credit facility, the interest rates and the modes of borrowing available hereunder, (ii) because each
Borrower may engage in transactions jointly with other Borrowers and (iii) because each Borrower may require, from time to time, access to funds under this Agreement for the purposes herein set forth. 

(c) Each Borrower has determined that it has and, after giving effect to the transactions contemplated by this Agreement and the other Credit
Documents (including, without limitation, the inter-Borrower arrangement set forth in this Section 12.1) will have, assets having a fair saleable value in excess of the amount required to pay its probable liability on its existing debts as they
fall due for payment and that the sum of its debts is not and will not then be greater than all of its Property at a fair valuation, that such Borrower has, and will have, access to adequate capital for the conduct of its business and the ability to
pay its debts from time to time incurred in connection therewith as such debts mature and that the value of the benefits to be derived by such Borrower from the access to funds under this Agreement (including, without limitation, the inter-Borrower
arrangement set forth in this Section 12.1) is reasonably equivalent to the obligations undertaken pursuant hereto. 

  
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 (d) Borrower Agent (on behalf of each Borrower) shall maintain records specifying (a) all
Obligations incurred by each Borrower, (b) the date of such incurrence, (c) the date and amount of any payments made in respect of such Obligations and (d) all inter-Borrower obligations pursuant to this Section 12. Borrower
Agent shall make copies of such records available to Agents, upon request. 
 Section 12.2 Maximum Amount of Joint and Several
Liability. To the extent that applicable law otherwise would render the full amount of the joint and several obligations of any Borrower hereunder and under the other Credit Documents invalid or unenforceable, such Borrower’s obligations
hereunder and under the other Credit Documents shall be limited to the maximum amount which does not result in such invalidity or unenforceability, provided, however, that each Borrower’s obligations hereunder and under the other Credit
Documents shall be presumptively valid and enforceable to their fullest extent in accordance with the terms hereof or thereof, as if this Section 12.2 were not a part of this Agreement. 

Section 12.3 Authorization of Borrower Agent by Borrowers: 

(a) Each Borrower hereby irrevocably authorizes Borrower Agent to give notices, make requests, make payments, receive payments and notices,
give receipts and execute agreements, make agreements or take any other action whatever on behalf of such Borrower under and with respect to any Credit Document and each Borrower shall be bound thereby. This authorization is coupled with an interest
and shall be irrevocable, and Agents may rely on any notice, request, information supplied by Borrower Agent, every document executed by Borrower Agent in respect of Borrowers or any thereof as if the same were supplied, made or taken by any or all
Borrowers. Without limiting the generality of the foregoing, the failure of one or more Borrowers to join in the execution of any writing in connection herewith shall not, unless the context clearly requires, relieve any such Borrower from
obligations in respect of such writing. 
 (b) Borrowers acknowledge that the credit facility provided hereunder is on terms more favorable
than any Borrower acting alone would receive and that each Borrower benefits directly and indirectly from all Advances hereunder. 

[SIGNATURES ON FOLLOWING PAGE(S)] 

  
 54 

 IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE
ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. 

Dated the date and year first set forth above. 
  

									
	BORROWERS:	 		 	DENT-A-MED INC.
					
		 		 		 	By:	 	/s/ Clifton C. Scogin
		 		 		 	Name:	 	Clifton C. Scogin
		 		 		 	Title:	 	CFO
			
		 		 	DENT-A-MED RECEIVABLES CORPORATION
					
		 		 		 	By:	 	/s/ Thomas W. Center
		 		 		 	Name:	 	Thomas W. Center
		 		 		 	Title:	 	Pres & CEO
			
		 		 	HC RECOVERY, INC.
					
		 		 		 	By:	 	/s/ T. Warren Center
		 		 		 	Name:	 	T. Warren Center
		 		 		 	Title:	 	Pres & CEO

  
  
  

[SIGNATURE PAGE TO LOAN AND SECURITY AGREEMENT] 

  
 S-1 

									
	AGENT AND LENDER:	 		 	WELLS FARGO PREFERRED CAPITAL, INC.
					
		 		 		 	By:	 	/s/ William M. Laird
		 		 		 		 	William M. Laird, Senior Vice President

  
  
  

 
 [SIGNATURE PAGE TO LOAN AND SECURITY AGREEMENT] 

  
 S-2 

 EXHIBITS 
  

			
	Exhibit A:	  	Form of Annual Compliance Certificate
	Exhibit B:	  	Form of Availability Statement
	Exhibit C:	  	Form of Request for Advance
	  
 SCHEDULES

 

	Schedule I:	  	Lenders
	Schedule II:	  	Permitted Indebtedness
	Schedule III:	  	Permitted Liens
	Schedule 4.2:	  	Organization and Good Standing
	Schedule 4.7:	  	Litigation
	Schedule 4.10:	  	Taxes
	Schedule 4.12:	  	Investments
	Schedule 4.16:	  	Business Locations
	Schedule 4.17:	  	Capital Stock
	Schedule 4.20:	  	Credit Card Agreements and Sale Agreements

 SCHEDULE I 

Commitments 
  

					
	 Lender
	  	 Commitment
Percentage
	  	 Commitment

	 Wells Fargo Preferred Capital, Inc.

123 South Broad Street, 7th Floor

MAC: Y1379-075

Philadelphia, Pennsylvania

Attn: Mr. William M. Laird, Senior Vice President

Facsimile: (215) 670-6120
	  	100%	  	$40,000,000

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