Document:

Exhibit 10.1

 

Execution

 

FIFTH Amendment
TO AmenDed and Restated LOAN AGREEMENT, FIFTH Amendment to promissory note AND FIRST AMENDMENT TO seCOND aMENDED AND rESTATED pROMISSORY
nOTE

 

This FIFTH
Amendment TO Amended and Restated LOAN AGREEMENT, fifth Amendment TO PROMISSORY NOTE AND FIRST AMENDMENT TO SECOND AMENDED AND
RESTATED PROMISSORY NOTE (this “Agreement”) is made as of December 20, 2022, by and among RANOR, INC., a Delaware corporation
(“Ranor”), Stadco New Acquisition, LLC, a Delaware limited liability
company (the “Initial Stadco Borrower”), STADCO, a California corporation
(“Stadco”), Westminster Credit Holdings, LLC, a Delaware limited liability
company (“Westminster”; together with Ranor, Initial Stadco Borrower and Stadco, jointly and severally, each a “Borrower”
and collectively, the “Borrowers”), and BERKSHIRE BANK, a savings bank organized and existing under the laws of the
Commonwealth of Massachusetts (“Lender” or “Bank”), successor by merger to Commerce Bank & Trust
Company, in the following circumstances:

 

A.               
Lender has made (i) a term loan to Ranor in the original principal amount of $2,850,000.00 (the “Ranor Term Loan”),
which Ranor Term Loan is evidenced by that certain Promissory Note dated December 20, 2016, made by Ranor in favor of Lender in the stated
principal amount of $2,850,000.00 (as amended by the First Amendment, Second Amendment, Third Amendment and Fourth Amendment, each as
hereafter defined, and as further amended, amended and restated, supplemented or otherwise modified from time to time, the “Ranor
Term Note”), which Ranor Term Loan matures on December 15, 2022, (ii) a revolving line of credit loan to the Borrowers in the
maximum principal amount of $5,000,000.00 (the “Line of Credit”), which Line of Credit is evidenced by that certain
Second Amended and Restated Promissory Note dated August 25, 2021, made by the Borrowers in favor of Lender in the stated principal amount
of $5,000,000.00 (the “Line of Credit Note”) and (iii) a term loan to the Initial Stadco Borrower, Stadco and Westminster
in the original principal amount of $4,000,000.00 (the “Stadco Term Loan” and together with the Ranor Term Loan and
the Line of Credit, collectively, the “Loans”), which Stadco Term Loan is evidenced by that certain Promissory Note
dated August 25, 2021, made by the Initial Stadco Borrower, Stadco and Westminster in the stated principal amount of $4,000,000.00 (the
 “Stadco Term Note” and together with the Ranor Term Note and the Line of Credit Note, collectively, the “Notes”).
The Notes are governed by the Amended and Restated Loan Agreement by and between Borrowers and Lender dated August 25, 2021 (as amended
by that certain First Amendment to Amended and Restated Loan Agreement and First Amendment to Promissory Note (the “First Amendment”)
dated as of December 17, 2021, as further amended by that certain Second Amendment to Amended and Restated Loan Agreement and Second Amendment
to Promissory Note (the “Second Amendment”) dated as of March 18, 2022, as further amended by that certain Third Amendment
to Amended and Restated Loan Agreement and Third Amendment to Promissory Note (the “Third Amendment”) dated as of June
16, 2022, as further amended by that certain Fourth Amendment to Amended and Restated Loan Agreement and Fourth Amendment to Promissory
Note (the “Fourth Amendment”) dated as of September 15, 2022, and as further amended, amended and restated, supplemented or
otherwise modified from time to time, the “Loan Agreement”). Any capitalized terms used but not expressly defined herein
shall be given the same meaning given to such term in the Loan Agreement.

 

    	 		 

     

    

 

B.                
Borrowers have requested that Lender extend the maturity of the Ranor Term Loan and the Line of Credit, and modify certain provisions
of the Loan Agreement, Ranor Term Note and Line of Credit Note, and Lender has agreed to such modification on the terms and subject to
the conditions set forth herein.

 

NOW, THEREFORE, in consideration
of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties
hereby agree as follows:

 

1.                 Amendment to Loan Agreement. The Loan Agreement is hereby amended as follows:

 

1.1              
The definition of “Appraised Value” in Section 2.3 of the Loan Agreement is hereby deleted in its entirety and following
is inserted in place thereof and substituted therefor:

 

                  “Appraised Value”
means the value of the Eligible Equipment as set forth on Schedule I attached hereto, which value was selected by Lender in its
reasonable discretion.

 

1.2             
Sections 2.6 and 2.7 of the Loan Agreement are hereby deleted in their entirety and the following are inserted in place thereof
and substituted therefor:

 

“2.6           Intentionally
omitted.

 

2.7              Intentionally
omitted.”

 

1.3
              
Section 6.3 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in place thereof and substituted
therefor:

 

“6.3             Records
and Reports. Furnish to Bank: (i) consolidated annual financial reports (“10 K”) of the condition of the Borrowers
and the Tech Guarantor, in each case, including a balance sheet, statement of cash flows, and profit and loss statement (reflecting all
adjustments to surplus and capital accounts), prepared in accordance with GAAP, within one hundred twenty (120) days after the end of
each fiscal year, audited by certified public accountants acceptable to Bank, together with a covenant compliance certificate demonstrating
compliance with the financial covenants set forth herein, in a form reasonably satisfactory to Bank; (ii) consolidating annual financial
reports of the condition of the Borrowers and the Tech Guarantor, in each case, including a balance sheet, statement of cash flows, and
profit and loss statement (reflecting all adjustments to surplus and capital accounts), prepared by the Borrowers, within one hundred
twenty (120) days after the end of each fiscal year; (iii) annual projections by the Borrowers for the next fiscal year’s income
statements, balance sheets and statement of cash flows within one hundred twenty (120) days after the end of each fiscal year; (iv) within
thirty (30) days following the end of each month, the Borrowers shall provide the Bank with (a) an inventory report and an aging report
of Borrowers’ accounts receivables and payables as of the end of the subject month; and (b) a borrowing base certificate, in the
form satisfactory to the Bank, showing the Borrowers’ availability and all amounts necessary in order to calculate the Borrowers’
availability; (v) within sixty (60) days of the end of each quarter, the Borrowers shall deliver to the Bank a management prepared financial
statements of the Borrowers and the Tech Guarantor, on a consolidated and consolidating basis, (“10 Q”) including,
at a minimum, a balance sheet and income statement compared with the previous year period, in form and substance reasonably satisfactory
to the Bank, and a covenant compliance certificate demonstrating compliance with the financial covenants contained herein, in form reasonably
satisfactory to the Bank; and (vi) with reasonable promptness, such other information bearing upon the credit and the status of business
and operations of the Borrowers and the Tech Guarantor as Bank may from time to time reasonably request. The non-provision of the information
required in this Section 6.3 by the time required will constitute an Event of Default (after the applicable cure period) hereunder.”

 

    	 	2	 

     

    

 

1.4             Section 6.10 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in place thereof and substituted
therefor:

 

“6.10         Debt
Service Coverage Ratio. The Borrowers agree to maintain the ratio of the Cash Flow of the Tech Guarantor to the Total Debt Service
of the Tech Guarantor of not less than 1.20 to 1.00 for the fiscal quarters ending September 30, 2021, through and including September
30, 2022, 1.10 to 1.00 for the fiscal quarter ending December 31, 2022, and 1.20 to 1.00 for the fiscal quarter ending March 31, 2023,
and each fiscal quarter end thereafter, in each case measured on a trailing twelve (12) month basis. Calculations will be based on the
audited (year-end) and unaudited (quarterly) consolidated financial statements of the Tech Guarantor. Quarterly tests will be measured
based on the 10 Q reports within sixty (60) days of the end of each quarter, and annual tests will be measured based on 10 K reports
within one hundred twenty days (120) after the end of each fiscal annual period. “Cash Flow” means an amount, without duplication,
equal to the sum of net income of Tech Guarantor plus (i) interest expense, plus (ii) taxes, plus (iii) depreciation
and amortization, plus (iv) stock based compensation expense taken by the Tech Guarantor, plus (v) non-cash losses and
charges and one time or non-recurring expenses at the Bank’s discretion, less (vi) the amount of cash distributions, if
any, made to shareholders or owners of Tech Guarantor, less (vii) cash taxes paid by the Tech Guarantor, all as determined in
accordance with GAAP, less (viii) operating lease amortization. “Total Debt Service” shall mean an amount, without
duplication, equal to the sum of (i) all amounts of cash interest paid on liabilities, obligations and reserves of Tech Guarantor paid
by Tech Guarantor, (ii) all amounts paid by Tech Guarantor in connection with current maturities of long-term debt and preferred dividends,
and (iii) all payments on account of capitalized finance leases (not operating leases), all as determined in accordance with GAAP, except
with respect to the impact of the adoption of the ASC 842 GAAP standard.”

 

    	 	3	 

     

    

 

 

1.5             Appendix I of the Loan Agreement is hereby amended by deleting the definitions of “Base Rate”, “Business
Day”, “Prime Rate”, “Ranor Term Loan Maturity Date” and “Revolver Maturity Date” and inserting
the following definitions in place thereof and substituted therefor:

 

 “Base Rate”
means a variable rate of interest per annum equal to the Prime Rate with such adjustments (which may be positive or negative) to the spread
or margin as the Bank deems reasonably necessary in its sole discretion to maintain an all-in yield on the Revolver Note substantially
equivalent to the Daily Simple SOFR Rate.

 

 “Business Day”
means any day other than a Saturday or a Sunday on which the head office of the Bank is open for transaction of all of its normal and
customary business; provided that, for purposes of determining SOFR, Daily Simple SOFR or Term SOFR, “Business Day” means
any day other than a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments
of its members be closed for the entire day for purposes of trading in U.S. government securities.

 

 “Prime Rate”
means, for any day, the per annum “prime rate” published for such day by The Wall Street Journal in its “Money
Rate” column. In the event (A) The Wall Street Journal stops publishing prime rates or (B) The Wall Street Journal ceases
to be available, then a substitute index rate shall be selected by the Bank from a comparable publication which publishes a rate which
has historical fluctuations similar to that of the “prime rate” appearing in The Wall Street Journal. Any announced
changes in said published “prime rate” rate shall result in an immediate and corresponding change in the Prime Rate without
notice to or consent from the Borrower.

 

 “Ranor Term Loan
Maturity Date” means December 15, 2027.

 

“Revolver
Maturity Date” means December 20, 2023.

 

    	 	4	 

     

    

 

1.6             
Appendix I of the Loan Agreement is hereby amended by inserting the following new definitions therein:

 

  “Daily Simple SOFR”
means, for any day (a “SOFR Rate Day”), a rate per annum equal to the greater of (A) zero percent (0.00%) and (B) SOFR
with a term equivalent to one month for the day (each such day a “Rate Set Day”) that is five (5) Business Days prior
to (y) if such SOFR Rate Day is a Business Day, such SOFR Rate Day, or (z) if such SOFR Rate Day is not a Business Day, the
Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator’s
Website. If by 5:00pm (ET) on the second (2nd) Business Day immediately following any Rate Set Day, SOFR in respect of such
Rate Set Day has not been published on the SOFR Administrator’s Website, then SOFR for such Rate Set Day will be SOFR as published
in respect of the first preceding Business Day for which such SOFR was published on the SOFR Administrator’s Website. Any change
in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR without notice
to or consent from the Borrower.

 

“Daily Simple SOFR
Rate” means a variable rate of interest per annum equal to the sum of (A) the applicable Daily Simple SOFR, plus (B) 0.11448%
(11.448 basis points), plus (C) the Term SOFR Margin.

 

“Interest Payment
Date” means (A) the last day of each Interest Period, and (B) the Revolver Maturity Date.

 

“Interest Period”
means (A) December 20, 2022, and ending on the date one month thereafter, and (B) thereafter, the period commencing on the day immediately
following the expiration of the prior Interest Period and ending on the date one month thereafter; provided, that (1) any Interest Period
that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business
Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day, (2) if any Interest
Period would end on a day for which there is no numerically corresponding day in the calendar month, such Interest Period shall end on
the last Business Day of the relevant calendar month, and (3) no Interest Period shall extend beyond the Revolver Maturity Date.

 

    	 	5	 

     

    

 

“SOFR”
means, with respect to any Business Day, the secured overnight financing rate published for such Business Day on the SOFR Administrator’s
Website.

 

“SOFR Administrator”
means the Federal Reserve Bank of New York (or a successor administrator of SOFR).

 

“SOFR Administrator’s
Website” means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor
source for SOFR identified as such by the SOFR Administrator from time to time.

 

“Term SOFR”
means, for any Interest Period, the greater of (A) zero percent (0.00%) and (B) the one-month forward-looking term rate based on SOFR
published on the Term SOFR Administrator’s Website, or other commercially available source providing such quotations as may be selected
by the Bank from time to time, two Business Days prior to the commencement of such Interest Period (as adjusted for any reserve requirement
and any subsequent costs arising from a change in government regulation); provided that if the Term SOFR is not published on a Business
Day due to a holiday or other circumstance, the applicable Term SOFR shall be the Term SOFR last published prior to such Business Day.

 

“Term SOFR Administrator”
means CME Group Benchmark Administration Limited (or a successor administrator of Term SOFR).

 

“Term SOFR Administrator’s
Website” means the website or any successor source for Term SOFR identified by the Term SOFR Administrator (or a successor administrator
of Term SOFR).

 

“Term SOFR Margin”
means Two and One-Quarter percent (2.25%) per annum.

 

“Term SOFR Rate”
means a variable rate of interest per annum equal to the sum of (A) the applicable Term SOFR, plus (B) 0.11448% (11.448 basis points),
plus (C) the Term SOFR Margin.

 

1.7            Schedule I of the Loan Agreement is hereby deleted in its entirety
and the attached Schedule I is inserted in place thereof and substituted therefor.

 

2.             Amendment to Ranor Term Note. The Ranor Term Note is hereby amended as follows:

 

    	 	6	 

     

    

 

2.1             The
second paragraph on page 1 of the Ranor Term Note is hereby deleted in its entirety and the following is inserted in place thereof and
substituted therefor:

 

“together with interest thereon on unpaid
balances (a) from the date hereof through and including December 19, 2022 at a fixed rate equal to 5.21% per annum, and (b) from and including
December 20, 2022 at a fixed rate equal to 6.05% per annum. Commencing on January 20, 2017 and continuing on the 20th day of
each month thereafter through and including December 20, 2022, the Borrower shall make monthly payments of principal and interest in the
amount of $19,260.46 each, and commencing on January 20, 2023, and continuing on the 20th day of each month thereafter, the
Borrower shall make monthly payments of principal and interest in the amount of $16,601.89 each, with all outstanding principal and accrued
interest due and payable on December 15, 2027. Interest shall be calculated on the basis of actual days elapsed and a 360-day year.”

 

3.              Amendment to Line of Credit Note. The Line of Credit Note is hereby amended as follows:

 

3.1             The second paragraph on page 1 of the Line of Credit Note is hereby deleted in its entirety and the following are
inserted in place thereof and substituted therefor:

 

“(a)             The
Borrowers shall pay interest only on the unpaid balance hereunder until paid in full, which interest shall be paid on each Interest Payment
Date. The aggregate unpaid principal balance of this Note shall be paid, plus any accrued and unpaid interest, on December 20, 2023.
Interest on the unpaid principal balance hereof from time to time outstanding shall be a fluctuating rate equal to, at the election of
the Borrowers, either (i) the Term SOFR Rate (or, if applicable under clauses (c), (d) or (e) of this Note, the Daily Simple SOFR Rate
or the Base Rate, as applicable), or (ii) the Adjusted Prime Rate, which fluctuating rate will change when the Prime Rate changes. The
Borrowers may elect to have the interest rate converted to the Term SOFR Rate (or, if applicable under clauses (c), (d) or (e) of this
Note, the Daily Simple SOFR Rate or the Base Rate, as applicable) or to the Adjusted Prime Rate, as applicable, at any time during the
term of this Note upon notice to the Bank at least two (2) Business Days prior to the end of the existing Interest Period, if the Term
SOFR Rate is in effect, or at least two (2) Business Days prior to the end of the month if any other interest rate is in effect hereunder.

 

    	 	7	 

     

    

 

(b)             Computations. Interest due with respect to this Note shall be computed on the basis of a year of 360 days and paid in arrears for
the actual number of days elapsed. If the due date for any payment required under this Note is extended by operation of law, interest
shall be payable for such extended time. If any payment required under this Note is due on a day which is not a Business Day, such payment
shall be made on the next succeeding Business Day, and such extension shall be included in computing interest in connection with such
payment.

 

(c)              Illegality.
If the Bank determines (which determination shall be conclusive absent manifest error) that any law has made it unlawful, or that any
governmental authority has asserted it is unlawful, for the Bank to determine or charge interest by reference to Term SOFR or Daily Simple
SOFR, then, upon notice thereof by the Bank to the Borrower, any obligation of the Bank to make or maintain the interest rate hereunder
by reference to Term SOFR or Daily Simple SOFR shall be suspended, and the interest shall thereafter accrue on the outstanding principal
balance of this Note at the Base Rate until the Bank notifies the Borrower that the circumstances giving rise to such determination no
longer exist.

 

(d)             Temporary
Unavailability of Term SOFR or Daily Simple SOFR. If the Bank determines (which determination shall be conclusive absent manifest
error) that (i) the circumstances under clause (e) of this Section have occurred and such circumstances are likely to be temporary, (ii)
adequate and reasonable means do not exist for determining Term SOFR, or (iii) the Term SOFR Rate does not adequately and fairly reflect
the cost to the Bank of funding the loan evidenced by this Note, then, upon notice thereof by the Bank to the Borrower, any obligation
of the Bank to make or maintain the interest rate hereunder by reference to Term SOFR shall be suspended, and interest shall thereafter
accrue on the outstanding principal balance of this Note at a variable rate per annum equal to the Daily Simple SOFR Rate (or, if the
Bank makes any of the foregoing determinations with respect to Daily Simple SOFR or the Daily Simple SOFR Rate, the Base Rate) until
the Bank notifies the Borrower that the circumstances giving rise to such determination no longer exist.

 

    		8	 

     

    

 

(e)              Permanent
Unavailability of Term SOFR or Daily Simple SOFR. If the Bank determines (which determination shall be conclusive absent manifest
error) that (i) adequate and reasonable means do not exist for determining Term SOFR, including, because SOFR or Term SOFR is not available
or published on a current basis, and such circumstances are unlikely to be temporary, (ii) the SOFR Administrator or Term SOFR Administrator,
or a governmental authority having jurisdiction over the Bank or any such administrator, has announced that SOFR or Term SOFR will no
longer be provided, (iii) any relevant agency or authority has announced that SOFR or Term SOFR is no longer representative, or (iv)
any similar circumstance exists such that SOFR or Term SOFR has become permanently unavailable or ceased to exist, any obligation of
the Bank to make or maintain the interest rate hereunder by reference to Term SOFR shall be suspended, and the interest shall thereafter
accrue on the outstanding principal balance of this Note at a variable rate per annum equal to the Daily Simple SOFR Rate (or, if the
Bank makes any of the foregoing determinations with respect to Daily Simple SOFR or the Daily Simple SOFR Rate, the Base Rate).

 

(f)             Interest
Rate Protection Agreement. Notwithstanding anything to the contrary herein, during any time that a transaction under an interest
rate swap agreement or hedging contract with the Bank is in effect with respect to this Note (i) Interest Periods and Interest Payment
Dates shall be adjusted as necessary to conform to the corresponding periods and dates applicable under such applicable under such interest
rate swap agreement or hedging contract, and (ii) “Prime Rate” means, for any day, the rate published for such day opposite
the caption “Bank prime loan” in Federal Reserve Publication H.15-519 (or any successor publication as published by the Board
of Governors of the Federal Reserve System), and any announced changes in said published “Bank prime loan” rate shall result
in an immediate and corresponding change in the Prime Rate without notice to or consent from the Borrower.”

 

4.             Conditions Precedent. The effectiveness of this Agreement is conditioned upon the occurrence of the following events, or
the Lender’s receipt of the following items, as applicable, in each case in form and content acceptable to the Lender:

 

4.1            a
fully-executed counterpart of this Agreement from the Borrowers and the Tech Guarantor, in form satisfactory to the Lender; and

 

4.2            receipt by Lender of payment of all reasonable and documented fees and expenses incurred in connection with this Agreement for
which invoices have been presented to the Borrowers, including, without limitation, all reasonable legal fees and expenses.

 

5.             All
security for the Loans and Notes now existing or hereafter granted to Lender, including without limitation all security evidenced, granted
or governed by the Loan Agreement as amended hereby, the Security Agreements, the Mortgage, and any guaranty given in connection with
the Loans or Notes, shall be security for the Loans, as amended hereby, and the Notes and for all obligations of Borrower under this
Agreement, under the Notes and under the Loan Agreement, as previously amended and as amended by this Agreement.

 

    	 	9	 

     

    

 

6.             All
references to the Loan Agreement, the Ranor Term Note and the Line of Credit Note, respectively, wherever, whenever or however made or
contained, are hereby deemed to be references to the Loan Agreement, the Ranor Term Note and the Line of Credit Note, respectively, as
previously modified and as modified by this Agreement. By signing this Agreement in the space indicated below, each Borrower hereby affirms
and restates all of the covenants and agreements made and set forth in the Loan Agreement and does hereby warrant, represent and covenant
that, after giving effect to this Agreement, the representations and warranties in the Loan Agreement are true, accurate and complete
in all material respects on and as of the date hereof (provided, however, that such materiality qualifier shall not be applicable to
any representations and warranties that already are qualified or modified by materiality in the text thereof, and provided, further,
that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material
respects as of such date). ALL OF THE PROVISIONS OF THE LOAN AGREEMENT, THE RANOR TERM NOTE AND THE LINE OF CREDIT NOTE, EACH AS AMENDED
HEREBY, REMAIN IN FULL FORCE AND EFFECT.

 

7.             By signing this Agreement on behalf of the Borrowers in the space designated below, the individual so signing represents and warrants
to Lender that he or she has full power and authority to execute this Agreement and to bind such Borrower, and that all corporate actions
necessary to authorize and approve execution of this Agreement, and by such individual, have been taken prior to the execution hereof.

 

8.              This Agreement shall be binding upon and shall inure to the benefit of Borrowers and Lender, and their respective successors and
assigns. This Agreement has been made in the Commonwealth of Massachusetts and shall be governed, construed, applied and enforced in accordance
with the laws of said Commonwealth without resort to its conflict of laws rules. Wherever possible, each provision of this Agreement shall
be interpreted in such a manner as to be effective and valid under applicable law; should any portion of this Agreement be declared invalid
for any reason in any jurisdiction, such declaration shall have no effect upon the remaining portions of this Agreement; furthermore,
the entirety of this Agreement shall continue in full force and effect in all jurisdictions and said remaining portions of this Agreement
shall continue in full force and effect in the subject jurisdiction as if this Agreement had been executed with the invalid portions thereof
deleted.

 

9.             IN THE EVENT THAT LENDER BRINGS ANY ACTION OR PROCEEDING IN CONNECTION HEREWITH IN ANY COURT OF RECORD OF MASSACHUSETTS OR THE
UNITED STATES IN MASSACHUSETTS, EACH BORROWER HEREBY IRREVOCABLY CONSENTS TO AND CONFERS PERSONAL JURISDICTION OF SUCH COURT OVER SUCH
BORROWER BY SUCH COURT. IN ANY SUCH ACTION OR PROCEEDING, EACH BORROWER HEREBY WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER
PROCESS AND AGREES THAT SERVICE THEREOF MAY BE MADE UPON SUCH BORROWER BY MAILING A COPY OF SUCH SUMMONS, COMPLAINT OR OTHER PROCESS BY
CERTIFIED MAIL TO SUCH BORROWER AT ITS ADDRESS REFERENCED IN THE LOAN AGREEMENT. EACH BORROWER AND LENDER HEREBY WAIVE TRIAL BY JURY IN
ANY LITIGATION IN ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THIS AGREEMENT OR ANY INSTRUMENT OR DOCUMENT DELIVERED
IN CONNECTION HEREWITH, OR THE VALIDITY, PROTECTION, INTERPRETATION, COLLECTION OR ENFORCEMENT THEREOF, OR ANY OTHER CLAIM OR DISPUTE
HOWSOEVER ARISING BETWEEN BORROWERS AND LENDER.

 

    	 	10	 

     

    

 

10.             This
Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature
page of this Agreement by facsimile, email or other electronic format (.pdf or .tif) shall be effective as delivery of a manually executed
counterpart of this Agreement.

 

11.             All outstanding Loans that were LIBOR Loans (as defined in the Loan Agreement immediately prior to the effectiveness of this Agreement)
immediately prior to the effectiveness of this Amendment are hereby converted to Loans bearing interest at the Term SOFR Rate (the “SOFR
Conversion”). Notwithstanding anything to the contrary set forth in the Loan Agreement, no amounts shall be owed by the Borrowers
in respect of any LIBOR breakage costs associated with the SOFR Conversion.

 

[Signatures appear on the
following page]

 

    
	 	11	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto, by their duly authorized representatives, have executed this Agreement on the date first above written.

 

 

	 	RANOR, INC.
	 	 	 
	 	By:	/s/ Thomas Sammons
	 	Name:	Thomas Sammons
	 	Title:	Vice President – Finance
	 	 	 
	 	Stadco New Acquisition, LLC
	 	 	 
	 	By:	/s/ Thomas Sammons
	 	Name:	Thomas Sammons
	 	Title:	Chief Financial Officer
	 	 	 
	 	Westminster Credit Holdings, LLC
	 	 	 
	 	By:	/s/ Thomas Sammons
	 	Name:	Thomas Sammons
	 	Title:	Chief Financial Officer
	 	 	 
	 	STADCO
	 	 	 
	 	By:	/s/ Thomas Sammons
	 	Name:	Thomas Sammons
	 	Title:	Assistant Secretary
	 	 	 
	 	BERKSHIRE BANK
	 	 	 
	 	By:	/s/ Thomas McCarthy
	 	Name:	Thomas McCarthy
	 	Title:	Senior Vice President –
    Commercial Lending

 

[Signature Page to Fifth Amendment]

 

    
	 		 

     

    

 

CONSENT OF GUARANTOR

 

The undersigned Guarantor
of the Obligations of the Borrowers as further described in the Loan Agreement and that certain Amended and Restated Unlimited Guaranty
dated as of August 25, 2021, by such Guarantor in favor of the Lender (the “Guaranty”) hereby consents to the execution
of the foregoing Agreement, hereby waives any claims, offsets or defenses which might otherwise arise by reason of the execution of the
foregoing, and hereby ratifies and affirms the Guaranty, and all agreements securing such Guaranty, all of which shall remain in full
force and effect until Borrowers’ Obligations have been paid and performed in full to Lender’s satisfaction. The undersigned
Guarantor hereby agrees that, as of the date hereof, it has no claim or defense of any kind by way of offset or otherwise to the payment
and satisfaction in full of Borrowers’ or the undersigned Guarantor’s obligations under said documents or to the extent that
such a claim or defense may exist, the undersigned hereby waives it in consideration of the execution of the Agreement. The undersigned
Guarantor further waives any and all defenses arising by reason of (a) any and all amendments or modifications of any documents or instrument,
(b) any and all alterations, accelerations, extensions or other changes in the time or manner of payment or performance of Obligations,
(c) the release, substitution or addition of any collateral or any guarantees, (d) any failure of the Lender to give notice of default
to Borrowers or the undersigned Guarantor, (e) any failure of the Lender to pursue any Borrower or any of its property with due diligence,
(f) any failure of the Lender to resort to collateral or to remedies which may be available to it, (g) any and all defenses arising out
of the relationship of the undersigned to Borrowers, and none of the defenses shall operate to release the undersigned as guarantor, (h)
all rights of Borrowers, and (i) the benefit of all other principles or provisions of law, statutory or otherwise, which are or might
be in conflict with the terms hereof.

 

The failure or refusal
of the undersigned Guarantor to execute this Consent of Guarantor shall not void such Guarantor’s Obligations, nor shall such failure
or refusal be grounds for any relief of the undersigned Guarantor from its Obligations.

 

Guarantor:

 

	TECHPRECISION CORPORATION	 
	 	 	 
	By:	/s/ Thomas Sammons	 
	Name:	Thomas Sammons	 
	Title:	Chief Financial Officer	 

 

     

     

    

 

SCHEDULE I

 

[Omitted]EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDMENT TO INVESTMENT MANAGEMENT TRUST AGREEMENT 

THIS AMENDMENT TO INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Amendment Agreement”), dated as of
December 27, 2022, is made by and between USHG Acquisition Corp., a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC, a New York limited liability trust company (the
“Trustee”), and amends that certain Investment Management Trust Company, effective as of February 24, 2021 (the “Trust Agreement”), by and between the Company and the Trustee. Capitalized terms
used but not defined in this Amendment Agreement have the meanings assigned to such terms in the Trust Agreement. 

WHEREAS, following the closing of the Company’s initial public offering of 28,750,000 units (the
“Offering”) and as of March 1, 2021, a total of $287,500,000.00 of the net proceeds from the Offering was placed in the Trust Account; 

WHEREAS, Section 1(i) of the Trust Agreement provides that the Trustee is to liquidate the Trust
Account and distribute the Property in the Trust Account, including interest not previously released to the Company to pay its franchise and income taxes as well as expenses relating to the administration of the Trust Account, (x) upon receipt
of, and only in accordance with, the terms of a Termination Letter in a form substantially similar to that attached to the Trust Agreement as Exhibit A or Exhibit B, as applicable, or (y) upon
the date which is the later of (i) 24 months after the closing of the Offering and (ii) such later date as may be approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate of
incorporation, if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as
Exhibit B and the Property in the Trust Account, shall be distributed to the Public Stockholders of record as of such date; 

WHEREAS, Section 6(d) of the Trust Agreement provides that the Trust Agreement may not be changed,
amended or modified without the affirmative vote of sixty-five percent (65%) of the then outstanding shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”) and
Class B common stock, par value $0.0001 per share (the “Class B Common Stock”), of the Company, voting together as a single class; and 

WHEREAS, at a meeting of the stockholders of the Company held on or about the date hereof (the “Special
Meeting”), at least sixty five percent (65%) of the voting power of all then outstanding shares of the Common Stock and the Class B Common Stock have voted to approve this Amendment Agreement; 

WHEREAS, at the Special Meeting, the stockholders of the Company also voted to approve an amendment to the Company’s
second amended and restated certificate of incorporation (the certificate of incorporation, as so amended, the “Amended Certificate”); and 

WHEREAS, each of the Company and the Trustee desires to amend the Trust Agreement as provided herein. 

 NOW, THEREFORE, in consideration of the mutual agreements contained herein
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows: 

1. Amendment to the Trust Agreement. Effective as of the execution hereof, Section 1(i) of
the Trust Agreement is hereby amended and restated in its entirety as follows: 
 ‘(i) Commence liquidation of the Trust
Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from the Company (“Termination Letter”) in a form substantially similar to that attached hereto as
either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer, Secretary or Chairman of the board of directors
of the Company (the “Board”) or other authorized officer of the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest not previously released to the
Company to pay its franchise and income taxes as well as expenses relating to the administration of the Trust Account, only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date which is the
later of (i) the Amended Termination Date (as such term is defined in the Company’s amended and restated certificate of incorporation) and (ii) such later date as may be approved by the Company’s stockholders in accordance with
the Company’s amended and restated certificate of incorporation, if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in
the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest not previously released to the Company to pay its franchise and income taxes as well as expenses relating to the administration of the
Trust Account (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses), shall be distributed to the Public Stockholders of record as of such date; provided, however, that in the event the Trustee receives a
Termination Letter in a form substantially similar to Exhibit B hereto, or if the Trustee begins to liquidate the Property because it has received no such Termination Letter by the date specified in clause (y) of
this Section 1(i), the Trustee shall keep the Trust Account open until twelve (12) months following the date the Property has been distributed to the Public Stockholders’; 

2. Amendment to Exhibit B. Effective as of the execution hereof,
Exhibit B of the Trust Agreement is hereby amended and restated in its entirety with Exhibit B attached hereto. 

3. No Further Amendment. The parties hereto agree that except as provided in this Amendment Agreement, the Trust
Agreement shall continue unmodified, in full force and effect and constitute legal and binding obligations of all parties thereto in accordance with its terms. This Amendment Agreement forms an integral and inseparable part of the Trust Agreement.

 4. References. 

(a) All references to the “Trust Agreement” (including “hereof,” “herein,”
“hereunder,” “hereby” and “this Agreement”) in the Trust Agreement shall refer to the Trust Agreement as amended by this Amendment Agreement. Notwithstanding the foregoing, references to the date of the Trust Agreement
(as amended hereby) and references in the Trust Agreement to 

  
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“the date hereof,” “the date of this Trust Agreement” and terms of similar import shall in all instances continue to refer to February 24, 2021. 

(b) All references to the “amended and restated certificate of incorporation” in the Trust Agreement (as amended by
this Amendment Agreement) and terms of similar import shall mean the Amended Certificate. 
 5. Governing Law;
Jurisdiction. This Amendment Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the
substantive laws of another jurisdiction. The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York, for purposes of resolving any disputes hereunder. AS TO ANY
CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY. 

6. Counterparts. This Amendment Agreement may be executed in several original or facsimile counterparts, each one of
which shall constitute an original, and together shall constitute but one instrument. 
 7. Other Miscellaneous
Terms. The provisions of Sections 6(i), 6(j) and 6(k) of the Trust Agreement shall apply mutatis mutandis to this Amendment Agreement, as if set forth in full herein. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement to be duly
executed by their duly authorized representatives, all as of the day and year first above written. 
  

			
	AMERICAN STOCK TRANSFER & TRUST
	COMPANY, LLC, as Trustee
		
	 By:
	 	 /s/ Barbara J. Robbins

	 Name: Barbara J. Robbins

	 Title: Sr. Vice President

	
	USHG ACQUISITION CORP.
		
	 By:
	 	 /s/ Adam D. Sokoloff

	 Name: Adam D. Sokoloff

	 Title: Chief Executive Officer

 [Signature Page to Amendment to Investment Management Trust Agreement] 

 EXHIBIT B 

USHG ACQUISITION CORP. 

853 Broadway, 17th Floor 

New York, New York 10003 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, NY 11219 
 Attn:
[                 ] 
 Re: Trust Account
Termination Letter 
 Ladies and Gentlemen: 

Pursuant to Section 1(i) of the Investment Management Trust Agreement between USHG Acquisition Corp.
(the “Company”) and American Stock Transfer & Trust Company, LLC (the “Trustee”), dated as of February 24, 2021 (the “Trust Agreement”), this is to advise you that
the Company has been unable to effect a business combination with a Target Business (the “Business Combination”) within the time frame specified in the Company’s amended and restated certificate of incorporation.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 
 In accordance
with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into the trust operating account at J.P. Morgan Chase Bank, N.A. to await distribution to the
Public Stockholders. Subject to the effectiveness of the amendment to the amended and restated certificate of incorporation of the Company, the Company has selected [ ] as the record date for the purpose of determining the Public Stockholders
entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public Stockholders in accordance
with the terms of the Trust Agreement and the Amended Certificate. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust
Agreement shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust Agreement. 
  

			
	 Very truly yours,

	
	 USHG ACQUISITION CORP.

		
	 By:
	 	          

		 	 Name:

		 	 Title:

 cc: Goldman Sachs & Co. LLC and Piper Sandler & Co. 

[Exhibit B to Investment Management Trust Agreement]

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