Document:

Exhibit 10.1

 

ASSET PURCHASE AND

INTELLECTUAL PROPERTY
ASSIGNMENT AGREEMENT

 

This
Asset Purchase and Intellectual Property Assignment Agreement (this “Agreement”) dated as of October 29, 2014,
is by and between Point Medical, Inc., a Delaware corporation (“PMI”) with offices located at 665 Martinsville
Rd, Suite 219, Basking Ridge, NJ 07920, and Leveraged Developments LLC, a New Hampshire limited liability company (“LD”)
with offices located at 75 Congress Street, Portsmouth, NH 03801. PMI and LD are individually each a “Party”,
and together are the “Parties,” to this Agreement.

 

WITNESSETH

 

WHEREAS,
LD is the owner of inventions and technology relating to Infusion Pump Systems for delivery of medication or nutrients into a patient’s
circulatory system (“Assigned Intellectual Property Rights”, as defined herein), know how relating thereto (“LD
Know How”, as defined herein), and tangible assets relating thereto (“Tangible Assets”, as defined
herein) (the Assigned Intellectual Property Rights, LD Know How and Tangible Assets, collectively, the “Transferred Assets”,
as defined herein);

 

WHEREAS,
LD and PMI are parties to the Point Medical, Inc. Leveraged Developments LLC License/Development/Intellectual Property and Collaboration
Agreement Terms dated 28 March 2014 (the “Term Sheet”), which contemplates this Agreement as well as the Development
Agreement (as hereafter defined), and the Parties have been performing pursuant to the terms of the Term Sheet, it being understood
that this Agreement and the Development Agreement will supersede and terminate the Term Sheet effective upon the Closing (as hereafter
defined) under this Agreement with respect to the matters contemplated hereby and effective as of the execution of the Development
Agreement as to the matters contemplated thereby;

 

WHEREAS,
as provided for by the Term Sheet, PMI has determined that it is in its business interest to acquire the Transferred Assets and
LD has determined it is in its business interest to sell such Transferred Assets to PMI;

 

WHEREAS,
PMI and LD are simultaneously entering into a development, commercialization and license agreement (“Development Agreement”)
relating to infusion pump technology disclosed within the Assigned Intellectual Property Rights, effective as of March 28, 2014,
which is the date of the Term Sheet; and

 

WHEREAS,
LD desires to and is agreeable upon the terms and conditions herein set forth to sell, transfer and convey the Transferred Assets
to PMI;

 

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

 

1.            Recitals.   The
representations contained in the foregoing recitals are incorporated into this Agreement as is fully set forth herein.

 

     

     

    

 

2.             Definitions.   For
the purpose of this Agreement, the following definitions shall be applicable:

 

2.1           “Action”
means any Claim, action, cause of action or suit (whether in contract or tort or otherwise), litigation (whether at law or in
equity, whether civil or criminal), controversy, assessment, arbitration, investigation, hearing, charge, complaint, demand, patent
interference, opposition, Third Party requested patent re-examination, notice or proceeding, in each case, to, from, by or before
any governmental authority.

 

2.2           “Affiliate”
of a specified person (natural or juridical) means a person that now or hereafter directly, or indirectly through one or more
intermediaries, controls, or is controlled by, or is under common control with, the person specified. “Control”
shall mean ownership of more than 50% of the shares of stock entitled to vote for the election of directors in the case of a corporation,
and more than 50% of the voting power in the case of a business entity other than a corporation.

 

2.3           “Assigned
Copyright Rights” means (a) all Copyright Rights owned or controlled by, in whole or in part, LD as of the Closing Date
which relate to the Product and/or the Technology; (b) all HTML code, compilations, collections, databases and database rights,
toolsets, and other rights relating to the Website, the Product and/or the Technology; and (c) all counterpart Copyright Rights
to the Copyright Rights in subpart (a) and subpart (b).

 

2.4           “Assigned
Intellectual Property Rights” means all Assigned Patent Rights, all Assigned Trademark Rights and all Assigned Copyright
Rights of LD as of the Closing Date which are necessary or useful to the production and/or sale of the Product and/or to practice
the Technology, inclusive of and together with all rights arising under the Carlisle Intellectual Property Assignment Agreement.

 

2.5           “Assigned
Patent Rights” means (a) the Patent Rights as set forth in Exhibit A hereto and as may be obtained through the
Closing Date; (b) all Patent Rights owned or controlled by, in whole or in part, LD as of the Closing Date which relate to the
Product and/or the Technology; and (c) all counterpart Patent Rights of any of the Patent Rights in subpart (a) and subpart (b).

 

2.6           “Assigned
Trademark Rights” means (a) the Trademark Rights related to the non- registered trademarks set forth on Exhibit A hereto
and as may be obtained through the Closing Date; and (b) all counterpart Trademark Rights of any of the Trademark Rights in subpart
(a).

 

2.7           “Business
Days” means any weekday other than a weekday on which banks located in Philadelphia, PA are authorized or required to
be closed.

 

2.8           “Carlisle
Intellectual Property Assignment Agreement” means that Intellectual Property Assignment made 5 December 2012 between
LD and Jeffrey A. Carlisle.

 

2.9           “Claim”
means any assertion of right whatsoever (including those arising from debts, bonds, promises, damages, equitable claims and judgments),
whether liquidated or unliquidated, known or unknown, fixed or contingent, direct or indirect, or imputed.

 

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2.10         “Closing”
is defined in Section 3.3.

 

2.11         “Confidential
Information” means (i) the non-public information in this Agreement; (ii) the details of the discussions and drafts
leading up to the execution of this Agreement; and (iii) any information or compilation of information of one of the Parties hereto
(the “Disclosing Party”) which becomes known to another Party (the “Receiving Party”) with
regard to this Agreement that is not generally known to the public, including information regarding intellectual property such
as discoveries, inventions, know how (including LD Know How), patent applications, patents, trademarks, service marks, trade dress
and/or trade secrets, whether disclosed before or after the date of this Agreement, excluding information which:

 

(a)          was
already in the possession of the Receiving Party prior to the Receiving Party’s receipt from the Disclosing Party (provided that
the Receiving Party is able to provide the Disclosing Party with reasonable documentary proof thereof and, if received from a third
party, that such information was acquired without breach of a confidentiality or non-disclosure obligation related to such information);

 

(b)          is
or becomes a matter of public knowledge through no act of the Receiving Party or its Affiliates or Representatives in violation
of this Agreement;

 

(c)          is
disclosed to the Receiving Party or its Affiliates on a nonconfidential basis by a Third Party who lawfully obtained such information
and is under no obligation to maintain the confidentiality of such information; or

 

(d)          has
been independently developed by the Receiving Party without breach of this Agreement or use of any Confidential Information of
the Disclosing Party (provided that the Receiving Party is able to provide the Disclosing Party with reasonable documentary proof
thereof).

 

Information
meeting the above definition shall be treated as Confidential Information regardless of its source, and all information identified
as being “confidential” or “trade secret” or labeled with words of similar import shall be
presumed to be Confidential Information. Confidential Information includes information being held in confidence by a Disclosing
Party for the benefit of a third party.

 

2.12         “Consents”
is defined in Section 4.1.3

 

2.13         “Copyright
Rights” shall mean all rights in or to any copyrightable works, whether or not registered, including but not limited
to all rights in all software (including both source code and object code), instructions, brochures, flyers, hand-outs, web pages,
web sites, designs, literature, advertising materials, plans, blueprints, artwork, patterns, drawings, specifications, and technical
information.

 

2.14         “Disclosing
Party” is defined in “Confidential Information.”

 

2.15         “Development
Agreement” is defined in the Preamble to this Agreement.

 

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2.16         “Encumbrance”
means any interest relating to or arising out any lien, license; covenant not to sue, option, pledge, security interest, mortgage,
right of first offer or first refusal, buy/sell agreement and any other restriction or covenant with respect to, or condition
governing the use, construction, transfer, receipt of income or exercise of any other attribute of legal or equitable ownership.

 

2.17         “Filings”
is defined in Section 4.1.3 (Consents).

 

2.18         “Indemnified
Party” means a Person to whom indemnification is provided under this Agreement.

 

2.19         “Indemnifying
Party” means a Person providing indemnification under this Agreement.

 

2.20         “Instruments
of Assignment” means those documents and instruments necessary for LD to effect the sale, conveyance, assignment, transfer
and delivery of the Transferred Assets to PMI or its designees, including but not limited to an executed patent assignment (attached
as Exhibit B), an executed trademark assignment (attached as Exhibit C), and an executed release and assignment
of intellectual property of security interest presently held by Mack Holding Company in certain of LD’s intellectual property
(attached as Exhibit E), each in recordable form to the extent necessary to duly assign such rights from LD to PMI.

 

2.21         “Losses”
means all Actions, Claims, Liabilities, damages, judgments, amounts paid in settlement, assessments, taxes, losses, fines, penalties,
expenses, costs and fees (including reasonable attorneys’ fees), and amounts, costs and reasonable attorneys’ fees
associated with seeking indemnification hereunder.

 

2.22         “LD”
is defined in the Preamble to this Agreement.

 

2.23         “LD
Know-How” shall mean all proprietary knowledge, information (including Confidential Information existing as of the Closing
Date) and expertise possessed by LD or to which LD has rights relating to the Technology existing as of Closing Date, whether or
not covered by any patent, patent application or future patent application, software, derivative works, and other works, whether
copyrightable or not, copyrights, designs, trademarks, trade secrets or other industrial or intellectual property rights. For the
avoidance of doubt, this definition excludes any such knowledge, information and expertise disclosed or covered within the Assigned
Intellectual Property Rights, including but not limited to the Assigned Trademark Rights and Assigned Copyright Rights.

 

2.24         “LD
Note to PMI” shall mean the $600,000 promissory note delivered by LD to PMI pursuant to Section 3.4.2(d) hereof.

 

2.25         “Mack”
shall mean Mack Molding Company, a Vermont corporation.

 

2.26         “Mack
Agreements” shall mean the Mack Loan Agreements and the Mack Manufacturing Agreement.

 

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2.27         “Mack
Loan” shall mean the $600,000 loan by Mack to LD evidenced by the Mack Loan Agreements.

 

2.28         “Mack
Loan Agreements” shall mean the following agreements between Mack and LD dated December 1, 2012: the Promissory Note;
the Loan and Security Agreement; and the Membership Interest Pledge Agreement.

 

2.29         “Mack
Manufacturing Agreement” shall mean the Manufacturing Agreement dated 6 December 2012 between Mack and LD.

 

2.30         “Material
Adverse Effect” shall mean any change that has, or would be reasonably expected to have, a material adverse effect on
the Transferred Assets, taken as a whole; provided, however, that none of the following shall be deemed either alone or
in combination to constitute, and none of the following shall be taken into account in determining whether there has been or would
be, a Material Adverse Effect: (a) any adverse effect resulting from or arising out of the announcement or pendency of the Agreement
or the Transaction; (b) any adverse effect resulting from or arising out of general economic conditions; (c) any adverse effect
resulting from or arising out of general conditions in the industry applicable to the Transferred Assets; or (d) any adverse effect
resulting from or arising out of any natural disaster or any acts of terrorism, sabotage, military action or war or any escalation
or worsening thereof.

 

2.31         “Notices”
is defined in Section 4.1.3 (Consents).

 

2.32         “Party”
and “Parties” are defined in the Preamble.

 

2.33         “Patent
Rights” means any and all U.S. and foreign: (a) patents (including utility and design patents); (b) patent applications
(including utility and design patent applications), including all provisional applications, substitutions, continuations, continuations-in-part,
divisions, renewals, and all patents granted thereon; (c) any additional inventions not covered under subpart (a) or subpart (b)
which are owned or controlled by LD, in whole or in part which relate to the Technology; and (d) patents-of-addition, reissues,
reexaminations and extensions or restorations by existing or future extension or restoration mechanisms, including supplementary
protection certificates or the equivalent thereof.

 

2.34         “Person”
means any individual or corporation, association, partnership, limited liability company, joint venture, joint stock or other
company, business trust, trust, organization, governmental authority or other entity of any kind.

 

2.35         “Pre-Closing
Period” means the time period between the date hereof through the Closing Date.

 

2.36         “Product”
shall mean the product relating to the BreezeTM infusion pump Technology as claimed and/or disclosed within the Assigned
Intellectual Property Rights in addition to any and all components thereof (disposable or non-disposable), cassettes, and other
accessories associated with the Technology including without limitation Product Accessories and any other components, items, technology
including owned controlled by LD or its Affiliates or which LD or its Affiliates has an interest useful or necessary to constitute
the full product to be offered for commercial sale, to be developed under the Development Agreement under the Development Plan.

 

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2.37         “Product
Accessories” shall mean accessories that have been incorporated or will be incorporated into the Product during development
or otherwise or which are otherwise useful or necessary to obtain a minimally viable marketable product, including but not necessarily
limited to a ruggedized pump case, housing and mounting options, and other accessories.

 

2.38         “Purchase
Price” is defined in Section 3.2.

 

2.39         “PMI”
is defined in the Preamble to this Agreement.

 

2.40         “Receiving
Party” is defined under the definition of “Confidential Information” in Section 2.10 of this Agreement.

 

2.41         “Representative”
means, with respect to any Person, any director, officer, employee, agent, consultant, advisor, partner, trustee or other representative
of such Person, including legal counsel, accountants and financial advisors.

 

2.42         “Tangible
Assets” is defined in Section 3.1. A list of items compromising the Tangible Assets is set forth as Exhibit D.

 

2.43         “Technology”
means any technology related to the Product (which includes without limitation the Product Accessories) including without limitation
any technology related to the infusion pump technology for delivery of medication, blood, fluids, nutrients or other substances
into a patient or other person or being which is disclosed within the Assigned Intellectual Property Rights. The term “Technology”
includes without limitation LD Know How, Confidential Information and Assigned Intellectual Property Rights.

 

2.44         “Third
Party” means any Person other than the Parties and their Affiliates.

 

2.45         “Third
Party Claim” means any Claim by a Third Party with respect to any matter that may give rise to a Claim for indemnification
under this Agreement.

 

2.46         “Trademark
Rights” means all United States and foreign registered and non registered trademarks, registered and non-registered
service marks, domain names, and all trademark and service mark applications, trade dress, logos, trade names, fictitious names,
brand names, brand marks, and corporate names, together with all translations, adaptations, derivations and combinations thereof.

 

2.47         “Transactions”
shall mean: (a) the execution and delivery of this Agreement and the Development Agreement; and (b) all of the transactions contemplated
by this Agreement and the Development Agreement, including: (i) the sale of the Transferred Assets by LD to PMI in accordance
with this Agreement; and (ii) performance by LD’s of its obligations under the Development Agreement, and (c) the exercise
by LD and PMI of their respective rights under this Agreement and the Development Agreement.

 

2.48         “Transferred
Assets” is defined in Section 3.1.

 

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2.49         “Website”
shall mean the www.ivbreeze.com website (including both the domain name and the content of the website), including but not limited
to all rights therein and related thereto and all data collected through such Website.

 

3.             Purchase
and Sale of Assets. Subject to the terms and conditions herein set forth, and on the basis of the representations, warranties
and agreements herein:

 

3.1           Transferred
Assets. Effective as of the Closing, subject to the terms of this Agreement, LD hereby sells, conveys, assigns and transfers
to PMI all its interests in and to (i) the Assigned Intellectual Property Rights, (ii) the LD Know How, (iii) the Website, and
(iv) any tools, components, physical prototypes and other tangible assets relating to the Product (including without limitation
the Product Accessories) and/or the Technology, whether located at LD or offsite at vendors or suppliers for LD or otherwise (the
foregoing (iii) the “Tangible Assets” and the foregoing items (i), (ii), (iii) and (iv) collectively the “Transferred
Assets”), free and clear of all Encumbrances, interests, or other limitations or restrictions whatsoever, as partially
evidenced by each of the Instruments of Assignment. LD shall take all actions reasonably necessary to vest all such rights in
Buyer and to assist in enforcing such rights, including executing all documents necessary for the recordation of ownership, including
but not limited to any relevant Instrument of Assignment to be executed and delivered to PMI as of the Closing Date. PMI accepts
the Transferred Assets; provided, that PMI does not assume any liabilities or obligations of LD related to the Transferred Assets,
except as expressly set forth in this Agreement.

 

3.2           Purchase
Price. At Closing, subject to the terms and conditions of this Agreement and in reliance upon the representations, warranties
and covenants of LD herein contained and in full consideration of such sale, conveyance, transfer, assignment and delivery of
the Transferred Assets under Section 3.1 and all other
rights, benefits and consideration flowing from LD to PMI, PMI shall deliver to LD the documentation and/or releases of LD by
Mack as provided for in Section 3.4. l(c) hereof. LD acknowledges that a stock certificate for 120,997 shares of PMI common stock
(the “Shares”) has already been delivered
by PMI to LD pursuant to the Term Sheet in consideration of the matters set forth therein and herein. Any payment by LD pursuant
to its indemnification obligations under Section 5.1 hereof shall be treated as a reduction of the purchase price of the Transferred
Assets.

 

3.3           Closing
- Time and Place. The “Closing” contemplated by this Agreement shall take place at the offices of PMI,
located at 665 Martinsville Rd, Suite 219, Basking Ridge, NJ 07920, not later than one (1) day after the satisfaction or waiver
of all conditions to Closing as set forth in Section 3.4 hereto, upon no less than one (1) day prior written notice from one Party
to the other. At the Closing, the Parties shall deliver all documents as specified herein. The date upon which the Closing shall
occur shall be referred to as the Closing Date. In the event that the conditions to Closing set forth in Section 3.4 shall not
be satisfied or waived by December 31, 2014, either Party may, upon ten (10) days prior written notice, terminate this Agreement.

 

3.4           Conditions
to Obligations for Closing.

 

3.4.1        Condition
to Obligation of LD to Close. The obligation of LD to close upon this Agreement and to consummate the transactions contemplated
hereby shall be subject to the satisfaction of each of the following conditions (any of which may be waived by LD, in whole or
in part, in writing):

 

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(a)          The
representations and warranties made by PMI in this Agreement shall have been accurate in all respects as of the Closing Date as
if made on the Closing Date (except for such representations or warranties which address matters only as of a particular time,
which shall have been accurate in all respects as of such particular time), except that any inaccuracies in such representations
and warranties shall be disregarded if such inaccuracies (considered collectively) do not constitute a Material Adverse Effect;

 

(b)          All
of the covenants and obligations that PMI is required to comply with or to perform at or prior to the Closing shall have been duly
complied with and performed, except where the failure to comply with or perform such covenants and obligations (considered collectively)
do not constitute a Material Adverse Effect;

 

(c)          PMI
shall present documentation signed by Mack reasonably evidencing the release by Mack of LD from and/or termination of the Mack
Loan Agreements; provided, however, that if after PMI has made diligent and reasonable efforts Mack has not released LD from and/or
terminated the Mack Loan Agreements by November 30, 2014, PMI may satisfy this condition by agreeing in writing to defend, indemnify,
and hold harmless LD from any and all obligations and liabilities arising from the Mack Loan Agreements upon the terms of the letter
agreement the form of which is attached hereto as Exhibit 3.4.l (c) (the “Mack Loan Indemnification Letter”) ; and

 

(d)          LD
shall have received the following documents, each of which shall be in full force and effect:

 

(i)          a
certificate, duly executed by PMI, certifying that the conditions set forth in Sections 3.4.1(a) and 3.4.1(b) have been duly satisfied;
and

 

(ii)         such
other documents as LD may request in good faith for the purpose of evidencing the satisfaction of any condition set forth in this
Section 3.4.1 or otherwise facilitating the consummation or performance of any of the Transactions.

 

3.4.2           Conditions
to Obligations of PMI to Close. The obligation of PMI to close upon this Agreement and to consummate the Transactions contemplated
hereby shall be subject to the satisfaction of each of the following conditions (any of which may be waived by PMI, in whole or
in part, in writing):

 

(a)          The
representations and warranties made by LD in this Agreement shall have been accurate in all respects as of the Closing Date as
if made on the Closing Date (except for such representations or warranties which address matters only as of a particular time,
which shall have been accurate in all respects as of such particular time), except that any inaccuracies in such representations
and warranties shall be disregarded if such inaccuracies (considered collectively) do not constitute a Material Adverse Effect;

 

(b)          All
of the covenants and obligations that LD is required to comply with or to perform at or prior to the Closing shall have been duly
complied with and performed, except where the failure to comply with or perform such covenants and obligations (considered collectively)
do not constitute a Material Adverse Effect;

 

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(c)          PMI
shall have entered into agreements with Mack with respect to PMI’s assumption of the Mack Loan (unless PMI shall deliver the Mack
Loan Indemnification Letter pursuant to Section 3.4.l (c)) and the Mack Manufacturing Agreement, in each case upon terms acceptable
to PMI in its sole discretion;

 

(d)          LD
shall have delivered its executed promissory note in the amount of $600,000 in principal amount, in form and substance reasonably
satisfactory to PMI, in consideration for PMI’ s assumption pursuant to Section 3.4.1(c) hereof of the Mack Loan or agreement to
indemnify LD in respect thereto pursuant to the Mack Loan Indemnification Letter (the “LD Note to PMI”). The LD Note
to PMI shall bear interest at 5% per annum, payable quarterly. PMI may elect to receive payment of such interest by way of reduction
of amounts it is due to pay LD under Section 3.6 of the Development Agreement. As provided for by Section 5.3 of the Development
Agreement, 25% of the Success Fees payable to LD shall be applied to the payment of principal on the LD Note to PMI; provided that
all unpaid principal due under the LD Note to PMI shall otherwise mature and be payable on the tenth (10th) year anniversary of
the date of this Agreement and shall otherwise accelerate and be payable in full upon any breach by LD of its obligations under
this Agreement or the Development Agreement.

 

(e)          PMI
shall have received the following documents, each of which shall be in full force and effect:

 

(i)          a
certificate, duly executed by the Seller, certifying that the conditions set forth in Sections 3.4.2(a) and 3.4.2 (b) have been
duly satisfied;

 

(ii)         recordable
assignment agreements with respect to any of the Assigned Intellectual Property Rights, in a form reasonably satisfactory to PMI
including without limitation an assignment agreement with respect to the Carlisle Intellectual Property Assignment Agreement;

 

(iii)        the
Release and Assignment of Intellectual Property Security Interest (Exhibit E) together with a UCC-3 and any other termination statements
in appropriate form for filing with the USPTO;

 

(iv)        such
bills of sale, deeds, endorsements, assignments, business transfer agreements and other documents as PMI may, acting reasonably
and in good faith, determine to be necessary or appropriate to assign, convey, transfer and deliver to PMI good and valid title
to the Transferred Assets;

 

(v)         LD
shall have delivered the Tangible Assets to PMI, it being understood that such delivery may be to LD to be held and used by LD
for PMI under the terms of the Development Agreement; and

 

(vi)        such
other documents as PMI may request in good faith for the purpose of evidencing the satisfaction of any condition set forth in this
Section 3.4.2 or otherwise facilitating the consummation or performance of any of the Transactions.

 

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3.5           Post-Closing
Obligations of LO. Any Assigned Patent Rights which as of the Closing Date have not been the subject of the filing of a patent
application(s) in the U.S. Patent & Trademark
Office or any foreign patent office will, upon receipt by LD of the filing date and application serial number (“Filing
Information”) subsequent to the filing of a patent application(s) in the U.S. Patent &
Trademark Office or within the patent office of any foreign jurisdiction, shall be subject
to a fully executed transfer (via an appropriate assignment document as approved by PMI) of all rights, title and interest in
the patent application(s), which shall occur no later than fifteen (15) days from receipt of the Filing Information by LD from
the respective patent office.

 

3.6           Post-Closing
Obligations of PMI. PMI shall use commercially reasonable efforts to raise no less than $2,000,000 of equity, convertible
note or debt financing (inclusive of amounts raised prior to the date hereof) prior to December 31, 2014. Upon a failure to raise
such financing by such date, LD may give written notice thereof to PMI, whereupon PMI shall have a sixty (60) day period to cure
such failure. If PMI shall fail to raise such financing prior
to the expiration of such sixty (60) day cure period, (i) PMI shall transfer to LD the Assigned Intellectual Property Rights and
the LD Know-How (which for the avoidance of doubt shall be as of March 28, 2014 and which shall exclude any Intellectual Property
paid for by PMI under the Development Agreement or the Term Sheet), (ii) LD and/or Jeff Carlisle shall transfer to PMI the 120,997
shares of PMI common stock previously transferred by PMI to Jeff Carlisle; and (iii) LD shall have the right, at its option, to
terminate the Development Agreement pursuant to the termination provisions thereof, which termination shall not affect rights
of PMI that shall have accrued prior to the date of such termination.

 

4.            Representations
and Warranties

 

4.1           As
to LO. LD represents and warrants to PMI that the statements contained in this Section 4.1 are true, correct and complete
as of the date hereof and as of the Closing, subject to such exceptions as are disclosed in the indicated section of the Disclosure
Schedule attached hereto and forming a part hereof.

 

4.1.1        Authorization.
LD is a limited liability company duly organized, validly existing and in good standing under the laws of the State of New
Hampshire. LD has the full corporate power and authority to execute and deliver this Agreement and to perform its respective obligations
under this Agreement. All corporate actions or proceedings required to be taken by or on the part of LD to authorize and permit
the execution and delivery by LD of this Agreement and to perform its respective obligations under this Agreement have been taken.
This Agreement has been duly executed and delivered by LD and constitutes the legal, valid and binding obligation of LD, enforceable
in accordance with its terms and conditions subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws
of general application affecting the rights and remedies of creditors and to general principles of equity.

 

4.1.2        Noncontravention.
Except as set forth in Schedule 4.1.2 of the Disclosure Schedule, neither the execution and delivery of this Agreement upon
meeting all LD obligations for Closing pursuant to Sections 3.4 nor the consummation of any additional transactions contemplated
hereby and thereby by LD will (i) violate any material legal requirement to which any of LD or its Affiliates or any of their
assets or property is subject, (iii) conflict with or result in a breach of, default under, right to accelerate payment under
or obligation to make any payment pursuant to or loss of material rights under, or modify or terminate any material contractual
obligation by which LD or its Affiliates or any of their assets or property is bound or subject, (iii) result in the creation
or imposition of any Encumbrance upon or forfeiture of any of the Transferred Assets, or (iv) result in the creation of any Claim
that could result in the creation or imposition of any Encumbrance upon or forfeiture of any of the Transferred Assets.

 

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4.1.3        Consents.
Except as set forth in Schedule 4.1.3 of the Disclosure Schedule, no approval, authorization, permit, license, waiver or consent
is required from any Third Party (including any governmental authority) (collectively, the “Consents”) and no
filing or notice is required to be made with or given to any Third Party (including any governmental authority) (respectively,
the “Filings” and the “Notices”) for LD and its Affiliates to accomplish the transactions
contemplated by this Agreement beyond any such Consent, Filing or Notice which must be satisfied and delivered by LD as a prior
condition to PMI’ s obligation the complete the Closing.

 

4.1.4        Litigation.
There is no Action pending or, to the knowledge of LD, threatened against or involving any of LD or its Affiliates that could
adversely affect (i) the Transferred Assets or (ii) the ability of LD or its Affiliates to consummate the Closing or perform any
obligations under this Agreement. For purposes of this Section 4.1.4, threatened Actions shall include, without limitation, requests
for interference, Third Party requests for re examination and requests for oppositions.

 

4.1.5        Title.
Except as set forth in Schedule 4.1.5 of the Disclosure Schedule, LD owns all rights, title and interests in and to the Transferred
Assets including without limitation the Technology, and has the full right and power to assign, transfer and sell good title to
the Transferred Assets including without limitation the Technology, in each case free and clear of all Encumbrances and all Claims.
Except as set forth in Schedule 4.1.5 of the Disclosure Schedule, no Third Party including without limitation Fluidnet Corporation,
its predecessors and Affiliates, nor any employee, contractor, consultant or Affiliate of LD, has any right, title or interest
in any of the Transferred Assets including without limitation the Technology, and there is no agreement or understanding, written
or otherwise, granting rights under or to any of the Transferred Assets including without limitation the Technology or imposing
obligations or limitations with respect to any of the Transferred Assets including without limitation the Technology.

 

4.1.6        Additional
Intellectual Property Representations and Warranties.

 

(a)          Completeness. 
The Assigned Intellectual Property Rights listed in Exhibit A include all Patent Rights, Trademark Rights and Copyright
Rights in which LD or any of its Affiliates has any right, title or interest in the Technology, including without limitation
any rights under licenses. Without limiting the foregoing, Jeffrey A. Carlisle
has assigned all of his Intellectual Property Rights existing as of the Closing in the Development (as such terms are
defined in the Carlisle Intellectual Property Assignment Agreement) to LD, and each other employee, consultant or Affiliate
of LD, and any other person including Third Parties who may have any right, title or interest in the Technology or any of the
other Transferred Assets has assigned all right, title and interest in the Technology and any of the other Transferred Assets
to LD. LD has provided PMI with correct and complete copies of all such Patent Rights, Trademark Rights and Copyright Rights,
and LD has obtained appropriate executed assignment of any and all Assigned Intellectual Property Rights from each named
inventor of all Patent Rights listed in Exhibit A.

 

    	 	11	 

     

    

 

(b)          Representations
Regarding the Assigned Intellectual Property Rights. With respect to each patent and patent application included within the
Assigned Intellectual Property Rights:

 

(i)          to
the knowledge of LD, each pending application listed under Patent Rights in Exhibit A is being properly obtained in accordance
with all applicable rules and regulations governing the prosecution of applications for such patent, and LD and its Affiliates
and their Representatives have not engaged in any fraud or other misconduct with regard to the prosecution or procurement of such
patent;

 

(ii)         no
Claim has been asserted or threatened by any person, with respect to the use of the Assigned Intellectual Property Rights or challenging
or questioning the validity or effectiveness of any license or agreement with respect thereto, and, to the knowledge of LD, no
valid basis for any such claim exists;

 

(iii)        for
each issued, unexpired patent or pending patent application listed under Patent Rights in Exhibit A, in all material respects,
(A) all necessary application, annuity, maintenance and renewal fees in connection with all patent applications have been paid
and (B) all necessary documents and certificates in connection therewith have been filed with the relevant authority for the purpose
of maintaining the patent registrations or applications.

 

(c)          Neither
LD nor any of its Affiliates have any knowledge that any of the statements or opinions expressed in the November 29, 2012 opinion
from McLane, Graf, Raulerson & Middleton
with respect to the Technology, a copy of which is attached as Exhibit 4.1.6(c) of this Agreement and which is incorporated herein
by reference, are not true, correct or complete with respect to the Technology as it exists as of the date of this Agreement and
as of the Closing Date or that the Technology infringes upon the intellectual property rights of any Third Party including without
limitation Fluidnet Corporation, its predecessors and Affiliates.

 

4.1.7           The
list of items included on Exhibit D (Tangible Assets) is a true, correct and complete list of all tangible items and components
related to the Product (including without limitation the Product Accessories) in existence as of the date hereof and as of Closing.
All such items are on-site at the premises of LD unless otherwise indicated on Exhibit D.

 

4.1.8           LD
hereby confirms that the Shares were acquired for investment for LD’s own account, not as a nominee or agent, and not with a view
to the resale or distribution of any part thereof, and that LD has no present intention of selling, granting any participation
in, or otherwise distributing the same. By executing this Agreement, LD further represents that LD does not presently have any
contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participants to such person or to any
third person, with respect to any of the Shares. LD has not been formed for the specific purpose of acquiring the Shares.

 

    	 	12	 

     

    

 

4.1.9        LD
has had an opportunity to discuss PMI’s business, management, financial affairs and the terms of the conditions of the offering
of the Shares with PMI’s management.

 

4.1.10      LD
understands that the Shares have not been, and will not be, registered under the Securities Act, by reason of a specific exemption
from the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment
intent and the accuracy of LD’s representations as expressed herein. LD understands that the Shares are “restricted
securities” under applicable United States federal and state securities laws and that, pursuant to these laws, LD must
hold the Shares indefinitely unless they are registered with the Securities and Exchange Commission and qualified by state authorities
or an exemption from such registration and qualification requirements is available. LD acknowledges that PMI has no obligation
to register or qualify the Shares. LD further acknowledges that if an exemption from registration or qualification is available,
it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for
the Shares, and on requirements relating to PMI which are outside of LD’s control, and which PMI is under no obligation
and may not be able to satisfy.

 

4.1.11      LD
understands that no public market now exists for the Shares, and that PMI has made no assurances that a public market will ever
exist for the Shares.

 

4.1.12      LD
understands that the certificate representing Shares may bear any one or more of the following legends: (a) any legend set forth
in, or required by, the other Transaction Agreements; (b) any legend required by the securities laws of any state to the extent
such laws are applicable to the Shares represented by the certificate so legended; and (c) the following legend:

 

“THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED
FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO TRANSFER MAY BE EFFECTED WITHOUT
AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO THE COMPANY THAT
SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.”

 

4.1.13      LD
is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. LD is an investor in
securities of companies in the development stage and acknowledges that LD is able to fend for itself, can bear the economic risk
of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the
merits and risks of the investment in the Shares.

 

4.1.14      Neither
LD nor any of its officers, directors, employees, agents, shareholders or partners has either directly or indirectly, including
through a broker or finder (a) engaged in any general solicitation with respect to the offer and sale of the Shares, or (b) published
any advertisement in connection with the offer and sale of the Shares.

 

    	 	13	 

     

    

 

4.1.15         LD
has read in their entirety and fully understands the risk factors set forth on Appendix A attached hereto (the “Risk Factors”).
LD has decided to enter into this Agreement, and is purchasing the Shares, fully cognizant of the Risk Factors and is willing to
assume the risk of making an investment in PMI, which includes without limitation the risk of loss of LD’s entire investment in
the Shares.

 

4.1.16         LD
acknowledges and agrees that except for the representations and warranties of PMI set forth in Section 4.2, PMI has not made any
representation or warranty, expressed or implied, as to PMI or as to any other matter, and LD is not relying upon any representation
or warranty except for the representation and warranties set forth in Section 4.2. LD acknowledges and agrees that PMI has disclaimed
any other representations and warranties made by PMI or by any officer, director, employee, agent, attorney or other representative
of PMI with respect to the execution and delivery of this Agreement or any of the transactions contemplated by this Agreement,
notwithstanding the delivery or disclosure to LD of any document or any other information with respect to one or more of the foregoing.

 

4.1.17         LD
has conducted, directly or through its representatives, to the extent it deems sufficient, a review and analysis of the business,
assets, liabilities, risks, regulatory issues, prospects of and other matters pertaining to PMI and acknowledges that it has been
provided with such access to PMI as has been requested for such purposes. In entering into this Agreement, LD has relied solely
upon the representations and warranties set forth in Section 4.2, any such investigation and analysis of PMI, and such other factors
or considerations as LD has deemed appropriate and sufficient, and LD acknowledges and agrees that it has not been induced by and
has not relied upon any representations, warranties or statements, whether express or implied, made by PMI or any other representative
or agent of PMI that are not set forth in Section 4.2, whether or not such representations, warranties or statements were made
in writing or orally.

 

4.2           As
to PMI. PMI represents and warrants to LD that the statements contained in this Section 4.2 are true, correct and complete
as of the date hereof and as of the Closing.

 

4.2.1           Authorization.
PMI is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. PMI has
the full corporate power and authority to execute and deliver this Agreement and to perform its respective obligations under this
Agreement. All corporate actions or proceedings required to be taken by or on the part of PMI to authorize and permit the execution
and delivery by PMI of this Agreement and to perform its respective obligations under this Agreement have been taken. This Agreement
has been duly executed and delivered by PMI and constitutes the legal, valid and binding obligation of PMI, enforceable in accordance
with its terms and conditions subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws of general application
affecting the rights and remedies of creditors and to general principles of equity.

 

4.2.2           Noncontravention.
Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby and thereby
by PMI will (i)  conflict with or result in a breach of or default under the organizational documents of PMI, or (ii)  violate
any material legal requirement to which PMI or any of its assets or property is subject.

 

    	 	14	 

     

    

 

4.2.3         Consents.
No Consents, Filings or Notices are required for PMI to accomplish the transactions contemplated by this Agreement.

 

4.2.4         Litigation.
There is no Action pending or, to the knowledge of PMI, threatened against or involving any of PMI or its Affiliates that could
adversely affect the ability of PMI to consummate the Closing or perform any obligations under this Agreement.

 

4.2.5        Capitalization.
The authorized capital of PMI consists, immediately prior to the date hereof, of fifty million shares of common stock, $0.001
par value per share (the “Common Stock”), 5,640,817 shares of which are issued and outstanding as of the date hereof.
All of the outstanding shares of Common Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance
with all applicable federal and state securities laws. As of the date hereof, except for common stock purchase warrants exercisable
at $3.00 per share to purchase 4,052,412 shares of common stock issued in connection with PMI’s financing, PMI has no stock options,
warrants or stock rights or plans related to the same for officers, directors, employees or consultants of PMI and all of PMI’s
outstanding shares of Common Stock are fully vested.

 

4.2.6        Valid
Issuance of Shares. The Shares have been validly issued and are fully paid and non-assessable, free and clear of any liens
or encumbrances, other than the transfer restrictions described in this Agreement, transfer restrictions imposed by PMI’s bylaws,
if any, and transfer restrictions imposed under state and federal securities laws. Assuming the accuracy and completeness of LD’s
representations hereunder, the Shares were offered, issued and sold in compliance with all Federal and state securities law and
were exempt from registration thereunder.

 

4.2.7        No
Other Representations and Warranties. Except as expressly set forth in Section 4.2 of this Agreement, PMI makes no representation
or warranty, express or implied, at law or in equity with respect to this Agreement, or otherwise.

 

5.             Indemnification

 

5.1           Indemnification
by LD. LD shall indemnify, defend and hold harmless PMI and its Affiliates and Representatives, whether or not involving a
Third Party Claim, against all Losses relating to or arising out of:

 

(a)          the
breach of any representation or warranty of LD under Section 4.1 of this Agreement or the breach of any covenant or obligation
in this Agreement or the Development Agreement; provided, however, LD and Jeffrey Carlisle shall jointly and severally indemnify,
defend and hold harmless PMI and its Affiliates and Representatives with respect to the breach of any representation or warranty
set forth in Section 4.1.5 and Section 4.1.6 hereof and for Claims or Actions by any Third Party relating to the ownership of
the Technology;

 

    	 	15	 

     

    

 

(b)          any
Claims or Actions by any Third Party arising under or relating to the Transferred Assets arising during, or otherwise relating
to, the time period prior to the Closing; and

 

(c)          any
obligation or liability of LD or its Affiliates to any Third Party not expressly assumed by PMI under this Agreement.

 

5.2           Indemnification
by PMI. PMI shall indemnify, defend and hold harmless LD and its Affiliates and Representatives, whether or not involving
a Third Party Claim, against all Losses relating to or arising out of:

 

(a)          the
breach of any representation or warranty of PMI in Section 4.2 of this Agreement or the breach of any covenant or obligation of
PMI in this Agreement or the Development Agreement;

 

(b)          any
Claims or Actions by any Third Party arising out of or relating to the exploitation by PMI or its Affiliates of or relating to
products, product systems or procedures derived from or based on the Transferred Assets including claims that the practice of the
Technology infringes the intellectual property rights of Third Parties, except to the extent that the Claim or Action shall be
an obligation of LD under Sections 5.l(b) or 5.l(c) or a breach of LD’s representation or warranties under Section 4.1; and

 

(c)          any
obligation or liability of PMI or its Affiliates to any Third Party except for those retained by LD hereunder.

 

5.3           Notice
of Claims. If an Indemnified
Party intends to seek indemnification pursuant to this Agreement, such Indemnified Party shall promptly notify the Indemnifying
Party in writing of the Claim for which indemnification is sought, including any Third Party Claims in respect of which indemnification
is sought under this Agreement. Any such notice shall set forth in reasonable detail, in light of the circumstances then known
to the Indemnified Party, the facts, circumstances and basis of the Claim and, if the Claim relates to a Third Party Claim, shall
include copies of all papers served upon or received by the Indemnified Party relating thereto. Any delay in the provision of
such notice and accompanying materials shall not affect any rights under this Agreement except to the extent that the Indemnifying
Party is actually and materially prejudiced thereby (and except that the Indemnifying Party shall not be liable for any expenses
incurred during the period in which the Indemnified Party failed to give such notice).

 

5.4           Third
Party Claims. The Indemnified Party shall have the sole and exclusive right to control of the defense of any Third Party Claim
with counsel of its choice, and the Indemnified Party’s reasonable legal fees and expenses shall constitute part of the
Losses indemnified under this Agreement. The Indemnified Party may consent to the entry of any judgment or enter into any compromise
or settlement with respect to, the Third Party Claim; provided, that the Indemnifying Party will not be bound by the entry of
any such judgment consented to, or any such compromise or settlement effected, without its prior written consent (which consent
will not be unreasonably withheld or delayed).

 

    	 	16	 

     

    

 

6.             Covenants.

 

(a)          LD
shall ensure that, at all times during the Pre-Closing Period, on reasonable notice, PMI is provided with reasonable access to
the personnel and assets of LD, and to all existing books, records, work papers and other documents and information relating to
the Acquired Intellectual Property Rights. PMI hereby agrees that any information or knowledge obtained pursuant to this Section
6(a) shall be subject to the terms of that certain Confidential Agreement dated as of February 18, 2014 between LD and PMI (the
“NDA”).

 

(b)          LD
shall use its reasonable efforts to ensure that, during the Pre- Closing Period, the following covenants are complied with, but
only as they relate to Transferred Assets:

 

(i)          LD
conducts its operations in the ordinary course of business consistent with past practice

 

(ii)         LD
shall pay as they become due any material undisputed trade and supplier payables;

 

(iii)        LD
shall not sell, transfer, lease, assign, license or otherwise dispose of any of the Transferred Assets or creates or incurs any
material Encumbrance thereon; and

 

(iv)        LD
shall not (i) enter into any contract that limits in any material respect the conduct of the business; or (ii) waive, release or
assign any material rights, claims or benefits of its business.

 

(c)          Notices
of Certain Events. During the Pre-Closing Period, each Party shall promptly notify the other Party of:

 

(i)          any
Action commenced pertaining to the respective Party that, if pending on the date of this Agreement, would have been required to
have been disclosed pursuant to Section 4.1.4 or that seeks to prohibit the consummation of the Transactions;

 

(ii)         any
inaccuracy of any representation or warranty contained in this Agreement that could reasonably be expected to cause the conditions
set forth in Section

3.4.1 or 3.4.2 not to be satisfied;

 

(iii)        any
failure to comply with any covenant or agreement to be complied with by it hereunder to the extent that such failure would reasonably
be expected to cause the conditions set forth in Sections 3.4.1 or 3.4.2 not to be satisfied;

 

(iv)        provided,
however, that, except as otherwise provided in this Agreement, the delivery of any notice pursuant to this Section shall not limit
or otherwise affect the remedies available hereunder to the party receiving that notice.

 

(d)          During
the Pre-Closing Period, the Parties shall use its reasonable efforts to cause the conditions set forth in Section 3.4.1 and 3.4.2
to be satisfied on a timely basis.

 

    	 	17	 

     

    

 

7.             Further
Assurances. From time to time upon request by PMI, LD will, and will cause its Affiliates to, execute, acknowledge and deliver,
or will cause to be done, executed, acknowledged and delivered, all such further acts, deeds, assignments, transfers, license grants,
conveyances, powers of attorney, and assurances that may be required to carry out the purposes of this Agreement. Without limiting
the foregoing, following the Closing, LD shall take such further actions that are reasonably necessary to accomplish the complete
transfer and assignment of LD’s rights, title and interests in and to the Transferred Assets to PMI. LD shall provide to PMI all
correspondence relating to the prosecution of the Assigned Patent Rights (unless PMI shall have requested the delivery of same
as part of the Transferred Assets).

 

8.             Third
Party Action. Except as agreed to by the Parties in writing, following the Closing, PMI will have the sole and exclusive right
and discretion to enforce the rights, title and interests in and to the Transferred Assets against Third Parties. If
PMI is unable to enforce any obligation or other right without LD being party to an Action, then LD shall voluntarily join
as a party in such Action as necessary to enforce any such obligation or other right; provided, that PMI agrees in advance to reimburse
LD for its reasonable fees, costs and expenses relating thereto. Following the Closing, LD shall not testify (whether by declaration,
affidavit, or in person) and LD shall not challenge or assist any Third Party in challenging the validity, enforceability or value
of the Assigned Intellectual Property Rights or other Transferred Assets, in each case other than under subpoena or similar legal
order.

 

9.             Confidentiality.
The Receiving Party agrees to maintain the confidentiality of the Confidential Information of the Disclosing Party and agrees
not to disclose or use (except as permitted or required for performance by the Receiving Party of its rights or duties hereunder)
any Confidential Information of the Disclosing Party. The Receiving Party further agrees to cause its and its Affiliates’ present
and future employees, officers, agents and consultants to comply with the foregoing. If
the Receiving Party is requested or required to disclose any Confidential Information of the Disclosing Party pursuant to
any order or decree of a court of competent jurisdiction or any applicable law, the Receiving Party shall endeavor to provide the
Disclosing Party with advance written notice of any such request or requirement (to the extent practicable) and shall provide reasonable
assistance to the Disclosing Party if the Disclosing Party desires to seek a protective order or other appropriate remedy. If,
in the absence of a protective order or other remedy, the Receiving Party is nonetheless legally compelled to disclose Confidential
Information, the Receiving Party may, without liability hereunder, disclose that portion of the Disclosing Party’s Confidential
Information that the Receiving Party’s legal counsel advises is legally required to be disclosed.

 

    	 	18	 

     

    

 

10.           Public
Statements. The Parties acknowledge and agree that no Party or its Affiliate shall publicly disclose information regarding
the terms of this Agreement or the transactions contemplated hereunder or thereunder. Notwithstanding the foregoing provision,
the Parties and their respective Affiliates shall not be prohibited from making any disclosure or release that is required by
law, court order, or applicable regulation or that is required to protect any intellectual property right in any territory; provided,
however, that prior to any such disclosure or release, the Party proposing to so disclose or release information regarding the
terms of this Agreement shall notify the other Party, and the Parties shall cooperate to seek applicable limitations on the public
availability of any information that either PMI or LD considers sensitive or confidential; provided further that the Parties may
disclose the terms of this Agreement to bona fide potential corporate partners, prospective investors, acquirers and merger partners,
and other persons, who, in the reasonable opinion of the disclosing party, have a need to know such information.

 

11.          Survival.
The terms of this Agreement and all provisions hereof, including all representations, warranties, promises, agreements and covenants,
are contractual and shall survive the execution and delivery of this Agreement and the Closing for an indefinite period of time;
provided, however, that the representations and warranties set forth in Sections 4.1.4; 4. l.6(b)(i); 4. l.6(b)(ii) except for
the last clause which reads “and, to the knowledge of LD, no valid basis for any such claim exists”; 4. l.6(b)(iii);
4.1.6(c) except for the representation and warranty at the end thereof as to the lack of knowledge that the Technology infringes
upon the intellectual property rights of any Third Party including without limitation Fluidnet Corporation, its predecessors and
Affiliates; 4.1.7; 4.1.8; 4.1.10; 4.1.11; 4.1.12; 4.1.13; 4.1.14; and 4.2.4 (collectively the “Expiring Representations”)
shall survive for a period of eighteen (18) months following the Closing. Claims for indemnification with respect to any of the
Expiring Representations must be asserted pursuant to the provisions in Section 5.3 of this Agreement within eighteen months following
the Closing.

 

12.           No
Third Party Beneficiaries. Except as specifically provided in this Agreement, this Agreement shall not confer any rights or
remedies upon any Person other than the Parties and their respective successors and permitted assigns.

 

13.          Entire
Agreement. Except as agreed to by the parties in writing, this Agreement, together with the Exhibits, attachments, appendices
and schedules hereto, together with the Development Agreement and any exhibits, attachments, appendices and schedules thereto,
constitute the entire agreement among the Parties and supersedes any prior understandings, agreements or representations by or
among the Parties, whether written or oral, with respect to the subject matter hereof including, without limitation, effective
upon the Closing with respect to the matters contemplated by this Agreement, the Term Sheet.

 

    	 	19	 

     

    

 

14.          Successors
and Assigns. Neither this Agreement nor the rights or obligations of the Parties under this Agreement shall be assignable without
the written consent of the non-assigning Party and any such purported assignment without the written consent of the non-assigning
Party shall be void and without effect; provided, however that PMI may assign its rights hereunder at the closing of a sale of
all or substantially all of the assets relating to the Technology or a change of control transaction in which the holders of the
voting securities of PMI immediately before such transaction own less than 50% of the voting securities of the surviving entity
immediately after giving effect to such transaction. Except as otherwise provided herein, this Agreement and all covenants and
agreements contained herein shall be binding upon and inure to the benefit of the Parties hereto, their permitted successors, permitted
representatives and permitted assigns.

 

15.         Severability.
Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect
the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction. In the event that any term or provision of this Agreement
would, under applicable law, be invalid or unenforceable in any respect, each Party intends that such provision will be construed
by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable
law. For any such invalid or unenforceable provision, the Parties shall use commercially reasonable efforts to negotiate a substitute
valid and enforceable provision while preserving to the fullest extent possible the intent and agreements of the Parties set forth
herein.

 

16.         Counterparts.
This Agreement, and the Closing, may be executed in one or more counterparts, each of which shall be deemed an original but all
of which together shall constitute one and the same instrument, notwithstanding variations in format or file designation which
may result from the electronic transmission, storage and printing of copies of this Agreement from separate computers or printers.
Facsimile signatures and signatures transmitted via PDF shall or by any other electronic means shall be treated as original signatures.
Notwithstanding the foregoing, and for the avoidance of doubt, LD shall deliver to PMI the original, executed Patent Assignment
and Trademark Assignment for their safekeeping.

 

17.         Headings.
The Section headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning
or interpretation of this Agreement.

 

18.           Notices.
All communications between LD and PMI relating to this Agreement and the subject matter hereof shall be directed to the persons
designated to receive notices set forth in this Section 18 or such other individuals as they may designate. All notices, requests,
demands, Claims and other communications under this Agreement shall be in writing. Any notice, request, demand, Claim or other
communication under this Agreement shall be deemed duly given (i) when delivered personally to the recipient, (ii) upon confirmation
of facsimile (with a confirmation copy to be sent by overnight delivery) or (iii) one business day following the date sent when
sent by overnight delivery, at the following address:

 

    	 	20	 

     

    

 

 

lf to LD:

Jeffrey Carlisle, Member

Leveraged Developments LLC

75 Congress St, LL05

Portsmouth, NH 03801

 

lf to PMI:

Jerry Ruddle,
President and COO 

Point Medical, Inc.

665 Martinsville Rd, Ste 219 

Basking Ridge, NJ 07920

 

Either
Party may change the named party and address to which notices, requests, demands, Claims and other communications under this Agreement
are to be delivered by giving the other Party notice in the manner herein set forth.

 

19.         Governing
Law. This Agreement shall be governed by and construed in accordance with the domestic laws of the State of Delaware without
giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of Delaware. The Parties hereto submit to
the exclusive jurisdiction of the State and Federal courts in the State of Delaware and New Castle County with respect to any
dispute.

 

20.         Amendments
and Waivers. No amendment of any provision of this Agreement shall be valid unless the same shall be in writing and signed
by PMI and LD. No waiver by any Party of any provision of this Agreement or any default, misrepresentation or breach of warranty
or covenant under this Agreement, whether intentional or not, shall be valid unless the same shall be in writing and signed by
the Party making such waiver nor shall such wavier be deemed to extend to any prior or subsequent default, misrepresentation or
breach of warranty or covenant under this Agreement or affect in any way any rights arising by virtue of any prior or subsequent
such occurrence. Any consent, waiver or amendment signed by LD shall be deemed the consent, waiver or amendment of LD and its
Affiliates and any consent, waiver or amendment signed by PMI shall be deemed the consent, waiver or amendment of PMI’s
and its Affiliates pursuant hereto.

 

21.         Expenses.
Except as expressly stated otherwise, each of the Parties will bear his or its own costs and expenses (including legal and accounting
fees and expenses) incurred in connection with this Agreement and transactions contemplated hereby and thereby.

 

IN WITNESS WHEREOF, PMI
and LD intending legally to be bound hereby have caused this Asset Purchase and Intellectual Property Assignment Agreement to
be duly executed as of the date first above written.

 

[Signature Page Follows]

 

    	 	21	 

     

    

 

	POINT MEDICAL, INC.	 
	 	 	 
	By:	/s/ Jerry C Ruddle	 
	Name:	Jerry C Ruddle	 
	Title:	President and COO	 
	Data:	10/24/14	 

 

	LEVERAGED DEVELOPMENTS LLC	 
	 	 
	By:	/s/ Jeffrey Carlisle	 
	Name:	Jeffrey Carlisle.	 
	Title:	Member	 
	Date:	10/24/14	 
	 	 
	SOLELY WITH RESPECT TO SECTION 5.1(a):	 
	 	 
	/s/ Jeffrey Carlisle	 
	 	 
	Jeffrey Carlisle  individually	 
	 	 
	Date:  10/24/14	 

 

    	 	22	 

     

    

 

APPENDIX A

(to Asset Purchase
and Intellectual Property Assignment Agreement dated October 29, 2014)

 

Risk Factors

 

Risk Factors. Any investment in
our securities involves a high degree of risk. You should consider carefully the following information contained in this
Subscription Agreement, before you decide to invest in our Units. If any of the following risks actually occurs, our business,
results of operations and financial condition would likely suffer. In these circumstances, you might lose all or part of
the money you paid to invest in our Units.

 

1. Forward Looking Statements.
There are disclosures contained in this Private Placement Offering, Subscription Agreement and Disclosure Document and the Exhibits
attached hereto that contain forward-looking statements. All statements, other than statements of historical fact, including,
without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein or in the Exhibits
incorporated by reference herein and those preceded by or that include the words “believes,” “expects,”
“given,” “targets,’’ “intends,” “anticipates,
“plans,” “projects,” “forecasts” or similar expressions,
are “forward-looking statements”. Although the Company’s management believes that such forward-looking statements
are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve
a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated.
The Company assumes no obligation to update any of the information contained or referenced in this Private Placement Offering,
Subscription Agreement Disclosure Document and in the Exhibits incorporated by reference herein beyond the date hereof.

 

2. Limited Operating History.
 Our future development hinges to a significant degree upon market acceptance of a new generation of pumps under development
for which there exists no operating history so far. You should evaluate the likelihood of the Company’s financial and operational
success in light of the significant uncertainties and complexities present with a smaller company with limited resources, many
of which are beyond our control, including, without limitation:

 

- the Company’s
potential inability to successfully complete development and bring to market its new generation of infusion pumps, in the highly
competitive medical devices marketplace;

 

- the Company’s
inability to retain qualified personnel;

 

- the Company’s
inability to effectively manage its business relationships with customers, and strategic partners; and

 

- The Company’s
inability to attain FDA approval for the newly designed pump

 

If our business becomes subject to any
one or more of the above negative conditions, our business, financial condition and results of operations could be subject to
materially adverse consequences and potential investors could lose their entire investment.

 

     

     

    

 

3. Business
Prospects and Potential Growth. Our success shall depend to a significant degree upon the economic and other business conditions
affecting the market in which we operate. Our ability to grow our business will be subject to those risks inherent to business
expansion: availability of a sufficient number of qualified personnel, adequate information technology, equipment and financial
controls to support such growth. If there is any decrease in the demand for our products and services any such deficiency could
have a material, adverse effect on such business, financial condition, results of operations and cash flows, and, thereby, have
a corresponding material adverse impact on our business, assets and financial condition.

 

4. No Public or Other Market currently
exists for our Common Stock. There is currently no public or other market for our Common Stock offered in our Private Offering.
In addition to the transfer restrictions set forth above and elsewhere in this Subscription Agreement, your investment in our
securities is a very illiquid investment and you may not be able to offer to sell or sell our shares of Common Stock in any marketplace,
or if at all, at prices comparable to the price paid for them. Potential investors should be able to bear the risk of an investment
in our Units for an indefinite period of time.

 

5. The Subscription Price for our Units
was not based upon any Recognizable Measure of Value. We arbitrarily determined the purchase price for our Units offered hereby.
There is no economic relationship between the offering price of our Units and any component of our financial condition, our assets,
the book value of such assets or earnings.

 

FOR ALL OF THE AFORESAID REASONS, AND
OTHERS, INCLUDING THOSE SET FORTH HEREIN, THESE UNITS OF INVOLVE A HIGH DEGREE OF RISK. ANY PERSON CONSIDERING AN INVESTMENT IN
OUR UNITS OFFERED HEREBY SHOULD BE AWARE OF THESE AND OTHER FACTORS SET FORTH IN THIS PRIVATE PLACEMENT OFFERING, SUBSCRIPTION
AGREEMENT DISCLOSURE DOCUMENT AND THE EXHIBITS ATTACHED HERETO, SOME OF WHICH ARE INCORPORATED HEREIN BY REFERENCE. THESE UNITS
SHOULD ONLY BE PURCHASED BY PERSONS WHO CAN AFFORD A TOTAL LOSS OF THEIR INVESTMENT IN THE COMPANY AND HAVE NO IMMEDIATE NEED
FOR A RETURN ON THEIR INVESTMENT. 

 

     

     

    

 

EXHIBIT
A

 

LISTING OF ASSIGNED PATENT RIGHTS AND ASSIGNED
TRADEMARK RIGHTS

 

Patents

 

		1.	PNEUMATICALLY COUPLED
                                         DIRECT DRIVE FLUID CONTROL SYSTEM AND PROCESS

 

	Country	Filing Date	Appl.  Serial No.
	 	 	 
	United States	May 22, 2014	14/285,278
	 	 	 
	Patent  Cooperation Treaty (PCT)	May 22, 2014	PCT/US2014/03 9207

 

		2.	PNEUMATICALLY COUPLED
                                         FLUID CONTROL SYSTEM AND PROCESS WITH AIR DETECTION AND ELIMINATION

 

	Country	Filing Date	Appl.  Serial No.
	 	 	 
	United States	May 22, 2014	14/285,314
	 	 	 
	Patent Cooperation Treaty (PCT)	May 22, 2014	PCT/US2014/039211

 

Trademarks

 

		1.	“BREEZETM”

		2.	“BREEZETALKTM”

		3.	“MULTI SOURCE
                                         SELECTORTM”

 

Domain Name

 

		1.	www.ivbreeze.com

 

     

     

    

 

EXHIBIT B

 

     

     

    

 

ASSIGNMENT OF PATENTS AND PATENT APPLICATIONS

 

For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Leveraged
Developments LLC, a New Hampshire limited liability company with an address of 75 Congress Street, Portsmouth NH 03801 (“Assignor”),
for itself and its successors and assigns, hereby assigns to Point Medical Inc., a Delaware corporation having an office at 665
Martinsville Road, Basking Ridge, NJ 07920, its successors and assigns (“Assignee”), all right, title and interest
in and to the patents and patent applications set forth on Schedule A attached hereto and made a part hereof, together
with all rights to any inventions and discoveries disclosed therein, any divisional, renewal, substitute, continuation or convention
applications based in whole or in part upon any of such inventions or discoveries or upon such patents and/or patent applications,
and any letters patent and extension or reissue patents hereafter granted in respect of such inventions and/or discoveries or
any such patents and/or patent applications (collectively, the “Patents”).

 

This Assignment is being
executed in connection with that certain Asset Purchase and Intellectual Property Assignment Agreement dated October 29, 2014.

 

This Assignment of Patents
and Patent Applications includes the right to file patent applications in any countries with respect to any of the Patents in
Assignee’s own name or such other name(s) as Assignee may choose, the right to claim for any and all damages by reason of
past infringement of the rights so sold, transferred and assigned, and the right to sue for and collect the same for Assignee’s
own use and enjoyment and for the use and enjoyment of its successors and assigns, the same to be held and enjoyed by Assignee,
its successors and assigns, to the full end of the term thereof. Assignor authorizes the Commissioner of Patents to issue or transfer
to Assignee all letters patent issued with respect to any of such Patents.

 

IN WITNESS WHEREOF,
Assignor has executed this Assignment of Patents and Patent Applications as of this_____day of__________2014.

 

	 	[ASSIGNOR]
	 	 
	 	LEVERAGED  DEVELOPMENTS  LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

     

     

    

 

SCHEDULE A

 

U.S. PATENTS

 

	Patent No. 	 	Date Filed 	 	Date Issued
	 	 	 	 	 
	None	 	 	 	 

 

U.S.
PATENT APPLICATIONS

 

	Application

Serial
No.
	 	Title	 	Date Filed
	 	 	 	 	 
	14/285,324	 	PNEUMATICALLY COUPLED FLUID CONTROL SYSTEM AND PROCESS WITH AIR DETECTION AND ELIMINATION	 	05/22/2014
	 	 	 	 	 
	14/285,278	 	PNEUMATICALLY COUPLED DIRECT DRIVE FLUID CONTROL SYSTEM AND PROCESS	 	05/22/2014

 

INTERNATIONAL PATENT APPLICATIONS

 

	PCT/US2014/039211	 	PNEUMATICALLY COUPLED FLUID
    CONTROL SYSTEM     AND PROCESS WITH AIR DETECTION AND ELIMINATION	 	05/22/2014
	 	 	 	 	 
	PCT/US2014/039207	 	PNEUMATICALLY COUPLED DIRECT DRIVE FLUID CONTROL SYSTEM AND PROCESS	 	05/22/2014

 

     

     

    

 

	STATE OF ________	 
	 	ss.
	COUNTY OF _______________	 

 

Before me, a notary public, in and for the state
and county aforesaid, on this ____day of __________, 20__, personally appeared                                      who, having been by me duly sworn and having
executed the foregoing instrument in my presence, did depose and say that she/he intends to be legally bound thereby and
intends that said instrument be properly recorded.

 

	 	 
	 	NOTARY PUBLIC
	 	 
	 	My Commission Expires:

 

     

     

    

 

	STATE OF ________	 
	 	ss.
	COUNTY OF ____________	 

 

Before me, a notary public,
in and for the state and county aforesaid, on this _______ day of __________ 20_, personally appeared who, having been by me
duly sworn and having executed the foregoing instrument in my presence, did depose and say that he is the _________of
 ______________the corporation that executed the foregoing instrument; that he executed said instrument on behalf of
said corporation; and that he was duly authorized to do so,___________, intending to be legally bound thereby and intending
that said instrument be properly recorded.

 

	 	 
	 	NOTARY PUBLIC
	 	 
	 	My Commission Expires:

 

     

     

    

 

EXHIBIT C

 

     

     

    

 

ASSIGNMENT OF TRADEMARKS AND SERVICE
MARKS

 

For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, LEVERAGED
DEVELOPMENTS LLC, a New Hampshire limited liability company with an address of 75 Congress Street, Portsmouth, NH 03801 (“Assignor”),
for itself and its successors and assigns, hereby transfers and assigns to Point Medical, Inc., a Delaware corporation with an
address of 665 Martinsville Road, Basking Ridge, NJ 07920 (“Assignee”), its successors and assigns, all right,
title and interest that Assignor may have in and to any and all trademarks and service marks set forth on Schedule A attached
hereto and made a part hereof, together with all goodwill associated therewith (collectively, the “Marks”).

 

This Assignment is being
executed in connection with a certain Asset Purchase and Intellectual Property Assignment Agreement dated October 29, 2014.

 

This Assignment of Trademarks
and Service Marks includes the right to apply for registration of any and all of the Marks in any and all jurisdictions where
such registration is desired by Assignee, the right to renew any existing registrations, and the right to claim for any and all
damages by reason of past infringement of any of such Marks, with the right to sue for and collect the same for Assignee’s
own use and enjoyment and for the use and enjoyment of its successors and assigns.

 

IN WITNESS WHEREOF, Assignor has
caused this Assignment of Trademarks and Service Marks to be executed by its duly authorized officer and its corporate seal to
be hereunto affixed on this _____day of                   ,
2014.

 

	 	ASSIGNOR
	 	LEVERAGED DEVELOPMENTS LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

     

     

    

 

SCHEDULE A

 

TRADEMARKS AND SERVICE
MARKS

 

U.S. Trademark/Service Mark Registrations:
None.

 

U.S. Trademark/Service Mark Applications:
None.

 

Unregistered Marks:

 

BREEZE for pumping modules
for IV infusion pumps and disposable IV infusion cassettes

 

BREEZETALK for a control language for IV infusion
pumping modules

 

MULTI SOURCE SELECTOR
for selector modules for IV infusion pumps that allow for automatic selection of multiple medications and fluids

 

Confusingly similar variations
of any of the registered or unregistered trademarks and/or service marks listed on this Schedule A.

 

All other registered and
unregistered trademarks and service marks used and owned by Assignor in connection with its IV fluid flow control systems business,
together with the goodwill associated therewith.

 

Domain Names:

 

IVBreeze.com

 

     

     

    

 

	STATE  OF _________________	 
		ss.
	COUNTY OF _______	 

 

Before me, a notary public, in and for the state and county
aforesaid, on this _ day of _________, 20_, personally appeared _________, who, having been by me duly sworn and having executed
the foregoing instrument in my presence, did depose and say that he is the President of __________ [Assignor], the limited liability
company that executed the foregoing instrument; that he executed said instrument on behalf of said limited liability company on;
and that he was duly authorized to do so,_______________ [Assignor] intending to be legally bound thereby and intending that said
instrument be properly recorded.

 

	 	 
	 	NOTARY PUBLIC
	 	 
	 	My Commission Expires:

 

     

     

    

 

EXHIBIT D

 

TANGIBLE ASSETS

 

		1.	Labview, DELL based workstation with Labview RT and FPGA
boards.

		2.	Volumetric scale 0-200 g , 5 mg resolution, 2 HZ

		3.	2 size weight appearance models of Breeze pump

		4.	1 size weight/ power charger modules

		5.	3 prototype modules for Multi Source Selector

		6.	FileMaker licenses (3)

		7.	Solidworks licenses (2)

		8.	70+ pilot run cassettes

		9.	2 life cycle pump fixtures

		10.	Reatlime pump testing platforms (4)

		11.	BTLE modules, TI (3)

		12.	Cassette proto tooling and laser

 

     

     

    

 

EXHIBIT E

 

RELEASE OF INTELLECTUAL
PROPERTY SECURITY INTEREST

 

This Release of Intellectual
Property Security Interest, dated as of                    , 2014, by and between Mack Holding Company,
a Vermont corporation with offices located at Warm Brook Road, Arlington, VT 05250 (“Mack”) and Leveraged Developments
LLC, a New Hampshire limited liability company with offices located at 75 Congress Street, Portsmouth, NH 03801 (‘LD”).
Mack and LD are individually a “Party”, and together are the “Parties,” to this Agreement.

 

WITNESSETH

 

WHEREAS, pursuant to the terms of the Loan and Security
Agreement, dated December 1, 2012, between Mack and LD for the purpose Mack providing to LD a loan of up to Six Hundred
Thousand Dollars ($600,000) and in securing said loan LD granted to Mack a security interest in various LD Collateral (as
defined within the Loan and Security Agreement) to Mack;

 

WHEREAS, a portion of this
LD Collateral covers General Intangibles (as defined within the Loan and Security Agreement) which in part covers (i) Patents,
Patent Applications, and Patent Licenses, and (ii) Trademarks, Trademark Applications and Trademark Licenses (both (i) and (ii)
as defined in the Loan and Security Agreement and as applied identically herein);

 

WHEREAS, Mack has agreed
to terminate and release its security interest and all of its right, title and interest in each of LD “Patents, Patent Applications,
and Patent Licenses” and LD “Trademarks, Trademark Applications and Trademark Licenses” as herein provided;

 

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

 

1.          Recitals.
The representations contained in the foregoing ‘WHEREAS clauses’ are incorporated into this Agreement as if fully
set forth herein.

 

2.          Release
and Assignment. Mack hereby terminates and releases its security interest in and lien on all of LD’s (i) Patents, Patent
Applications, and Patent Licenses and (ii) Trademarks, Trademark Applications and Trademark Licenses, and Mack hereby assigns
and transfers to LD, without recourse, all of the Mack’s right, title and interest in and to each of LD’ s (i) Patents,
Patent Applications, and Patent Licenses, and (ii) Trademarks, Trademark Applications and Trademark Licenses, as of the date set
forth above.

 

3.          Acknowledgment
and Acceptance. LD hereby acknowledges and accepts the foregoing release and assignment by Mack of the Collateral pursuant
to Section 2.

 

     

     

    

 

4.          Counterparts.
This Release may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument, notwithstanding variations in format or file designation which may result from the
electronic transmission, storage and printing of copies of this Agreement from separate computers or printers. Facsimile signatures
and signatures transmitted via PDF shall or by any other electronic means shall be treated as original signatures.

 

5.          Entire
Agreement. Except as agreed to by the parties in writing, this Agreement constitutes the entire agreement among the Parties
and supersedes any prior understandings, agreements or representations by or among the Parties, whether written or oral, with
respect to the subject matter hereof.

 

6.          Governing
Law. This Agreement shall be governed by and construed in accordance with the domestic laws of the State of New Hampshire
without giving effect to any choice or conflict of law provision or rule (whether of the State of New Hampshire or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of New Hampshire. The Parties hereto submit
to the exclusive jurisdiction of the State and Federal courts in the State of New Hampshire and Merrimack County with respect
to any dispute.

 

IN
WITNESS WHEREOF, MACK and LD intending legally to be bound hereby have caused this Release of lntellectual Property Security Interest
to be duly executed as of the date first above written.

 

	MACK HOLDING COMPANY
	 	 
	By:	 	 
	 	 	 
	Name:
	 	 
	 	 	 
	Title: 	 	 
	 	 	 
	Date:
	 	 

 

	LEVERAGED DEVELOPMENTS LLC	 
	 	 
	By:	 	 
	 	 	 
	Name:	Jeffrey Carlisle	 
	 	 	 
	Title:	Member

	 
	 	 	 
	Date:	 	 

 

     

     

    

 

Exhibit 3.4.l(c)

 

Mack Loan Indemnification
Letter

 

Point
Medical, Inc.

665 Martinsville Road

Basking Ridge, NJ 07920

 

 

______________,
2014

 

Leveraged Developments, LLC

75 Congress Street

Portsmouth, NH 03801

Attn:
Mr. Jeffrey Carlisle

 

Dear Mr. Carlisle:

 

Point
Medical, Inc. (“PMI”) hereby agrees to defend, indemnify and hold Leverage Developments, LLC (“LD”)
and LD’s Affiliates, managers, members, officers, agents, and employees (the “Indemnified Parties”) harmless
to the fullest extent permitted by law, from and against any and all liabilities, demands, debts, losses, expenses (including
reasonable attorneys’ fees), claims, damages, or obligations which the Indemnified Parties have, had, or may have under
the “Mack Loan Agreements” (as defined in that certain Asset Purchase and Intellectual Property Assignment Agreement
by and between PMI and LD dated October 24, 2014 (the “APA”), such agreements being (i) the Promissory Note
in the amount of $600,000, (ii) the Loan and Security Agreement, and (iii) the Membership Agreement, each between LD and Mack
Holding Company (“Mack”) dated December 1, 2012). Terms used but not defined herein shall have the meaning
ascribed to them by the APA.

 

This
agreement is made and entered into pursuant to Section 3.4.1(c) of the APA and is in consideration of the matters set forth in
the APA including without limitation the delivery by LD to PMI of the LD Note to PMI.

 

LD
shall give prompt written notice to PMI of receipt of any written notice or demand by any of the Indemnified Parties made by Mack
under the Mack Loan Agreement in accordance with the terms of the notice provisions of Section 18 of the APA.
Failure to give prompt notice shall not relieve PMI of its obligations hereunder, unless the failure to so notify actually
results in damage or material prejudice to PMI.

 

LD
shall reasonably cooperate with and assist PMI in respect of any demand or claim by Mack under the Mack Loan Agreements; provided,
however, that such cooperation and assistance shall not be deemed to require any payment by LD on account of the Mack Loan Agreements
or other payment by LD. Without limiting the foregoing, upon receipt of any such notice or demand from Mack, PMI in its sole discretion
may determine to exclusively deal with Mack in respect thereto, and in such event, LD, following written notice as to same from
PMI, shall not negotiate, confer or communicate with Mack in respect of same except as directed by PMI.

 

     

     

    

 

In
the event of any breach of PMI’s agreements and obligations under this letter agreement as set forth above, PMI, following
written notice thereof and a ten day opportunity to cure, shall be liable to the Indemnified Parties, in addition to any other
remedies, for any Indemnified Party’s reasonable attorney’s fees and costs incurred in enforcing its rights under
this letter agreement; provided however that PMI shall not be liable for such fees and costs in the event that LD shall be in
breach of its obligations provided for in this letter agreement or in the event that LD shall be in default of its obligations
under the LD Note to PMI.

 

Very truly yours,

 

	POINT MEDICAL,  INC.
	 
	BY:
	Jerry Ruddle, President and COO

 

     

     

    

 

Disclosure Schedule

to

Point Medical, Inc/Leveraged
Developments LLC

Asset Purchase and Intellectual Property Assignment
Agreement

 

Section 4.1.2

Mack Loan Agreement

 

Section 4.1.3

Mack Loan Agreement

 

Section 4.1.5

Mack Loan Agreement

Mack Manufacturing AgreementExhibit 10.5

 

ASSIGNMENT
AND ASSUMPTION, CONSENT AND MODI FICATJON AGREEMENT

 

This
Assignment and Assumption, Consent and Modification Agreement (this “Agreement") dated as of February 24, 2015 (the
"Effective .Date"), is made by and among Leveraged Developments LLC, a New Hampshire limited liability company ("LD"),
TurnPoint Medical Devices, lnc., a Delaware corporation formerly known as Point Medical, lnc. ("TPMD") and Mack Molding
Company, a Vermont corporation ("Mack").

 

Preliminary Statement.

 

A.           Mack
and LD are parties to a Loan and Security Agreement dated as of December 1, 2012 (the "Loan Agreement"), pursuant to
which LD has borrowed $600,000 from Mack (the "Loan'').

 

B.           The
Loan is evidenced by the Loan Agreement dated December 6, 2012 and a Promissory Note dated as of December 1, 2012 issued by LD
to Mack (the "Note"). LD is also obligated under the Loan Agreement to make certain Revenue Participation Payments (as
defined in the Loan Agreement) to Mack for a period of 25 years that runs through 2017,

 

C.           The
Loan and revenue Participation Payments are secured by security interest in all LD assets and a pledge of all membership interests
in LD.

 

D.           Mack
and LD also entered into a Manufacturing Agreement dated December 6, 2012 (tbc ''Manufacturing Agreement"), pursuant to which
(i) Mack agreed to manufacture certain products on an exclusive basis for LD and (ii) LD granted Mack an exclusive license to
use certain intellectual property owned by LD.

 

E.           The
Loan Agreement, Note and Manufacturing Agreement, together with any transaction documents referred to therein are collectively
referred to herein as the "Transaction Agreements." The term "Transaction Agreements" specifically excludes
the Membership interest Pledge Agreement given by Jeffrey Carlisle in favor of Mack (the '"Carlisle Membership Pledge'')
from and after the Assignment Date (as hereinafter defined).

 

F.           LD
and TPMD entered into Asset Purchase and Intellectual Property Assignment Agreement dated as of October 29, 2014 (the "Purchase
Agreement'') pursuant to which TPMD agreed to purchase the Transferred Assets (as defined therein, and hereafter, the 'Transferred
Assets"). That purchase, which closed on January19, 2015, requires the approval of Mack to the transfer of the LD assets.

 

G.           LD
and TPMD entered into a Development Agreement dated as of October 29, 20 14 (the "Development Agreement" and together
the Purchase Agreement , the "TPMD Agreements") which provides, among other things, for the payment by
TPMD of certain development work with respect to the Product (as defined therein) to be performed by LD and the ownership
by TPMD of all Intellectual Property Rights (as defined !herein and hereafter, the ''lntellectual Property Rights") created
by LD since March 28, 2014 .

 

H.           LD
and TPMD have requested that Mack give its consent to the transfer of the Transferred Assets to TPMD, and Mack is willing to do
so provided that TPM D assumes all obligations under Transaction Agreements, and the parties are entering into this Agreement
to reflect the terms of their Agreements.

 

     

     

    

 

Agreement. For
and in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration,
the receipt, adequacy and legal suffic1ency of which are hereby acknowledged, the parties do hereby agree as follows:

 

1.           Capitalized
terms. Capitalized terms used herein and not defined shall have the meanings ascribed to them in the Loan Agreement.

 

2.           Assignment
and Assumption.

 

a.           Effective
as of January l 9, 2015 (the "Assignment Date"), LD hereby assigns, sells, transfers and sets over to TPMD all of LD's
right, title, benefit, privileges and interest in and to, and all of LD's burdens, obligations and liabilities in connection with
and under the Transaction Agreements.

 

b.           .Effective
as of the Assignment Date, TPM D accepts the assignment of the Transaction Agreements and assumes and agrees to observe and perform
all of the duties, obligations, terms, provisions and covenants with respect to the Transaction Agreements from and after the
Assignment Date, and to pay and discharge all of the liabilities of LD to be observed, performed, paid or discharged in connection
with or under the Mack Contracts from and after the Assignment Date, including without limitation, all obligations under the Note
and all Revenue Participation Payments required under the Loan Agreement, subject in all instances to the modification and amendment
of the Transaction Agreements as provided for by Section 5 hereof

 

c.           LD
shall remain liable for all obligations and liabilities under the Transaction Agreements from the effective date of the Transaction
Agreements through and up to the Assignment Date and the Carlisle Membership Pledge shall remain in effect only insofar as to
secure such LD obligations and liabilities, but shall not secure any obligations under the Transaction Agreements accruing from
and after the Assignment Date.

 

3.           Representations
and Warranties.

 

a.           LD
represents and warrants that as of the Assignment Date, it (i) has not previously assigned the Transaction Agreements to any third
party, except to TPM D to the extent provided by the terms of the binding letter of intent which LD and TPMD entered into on March
28, 2014 (the “LOI”), (ii) has full power, capacity and authority to sell, transfer and assign its rights in connection
with the Transaction Agreements as provided in this Agreement, ( iii) owned all of the Transferred Assets up to and including
the Assignment Date except to the extent arising m connection with the LOI; (iv) it is not retaining any rights to the Transferred
Assets under the TPMD Agreements, other than the license to make products outside of the Field (as defined in the Development
Agreement); and ( v) is not in default under the Transaction Agreements except to the extent (x) arising in connection with the
LOI and (y) that the sale of the Transferred Assets to TPMD required Mack s prior consent.

 

    	 	2	 

     

    

 

b.           
LD and TPMD represent and warrant that true and correct copies of (i) the fully executed Purchase Agreement, including all exhibits
thereto, is attached hereto as Exhibit A; (11) the fully executed Development Agreement, including all exhibits
thereto, is attached hereto as Exhibit B·(iii) the fully executed Assignment of Patents and Patent Applications
by LD is attached hereto as Exhibit C,; (iv) the fully executed copy of the Assignment of Trademarks and Service
Marks is at1ached hereto as Exhibit D and (v) the fully executed copy of the bill of sale or transfer document for
the Tangible Assets, as defined in the Purchase Agreement, is attached hereto as Exhibit E.

 

c.           
LD and TPMD represent and warrant that as of the Assignment Date, and subject. to Mack's consent hereunder, all of the Transferred
Assets, as defined in the Purchase Agreement, were duly conveyed to and are the property of TPMD.

 

4.           Grant
of Security Interest. By its execution below, TPMD confirms that to secure prompt payment of all Obligations under the Transaction
Agreements, it grants, sells, assigns, conveys, mortgages, pledges, hypothecates and transfers to the Mack a continuing security
interest i n and lien on all of the TPMD's right. title and interest in and to the following as of the Assignment Date, whether
now existing or hereafter developed or acquired (the ''Collateral"):

 

Accounts;
Chattel Paper, including Electronic Chattel Paper; Equipment, including computer programs embedded in goods, machinery, fixtures,
furniture., tools, parts, vehicles, and materials relating to the use, operation or structure of any of the foregoing; Deposit
Accounts; Documents; Fixtures; intellectual property and General Intangibles (including, without limitation, Patents, Patent Applications
and Patent Licenses, and Trademarks, Trademark Applications and Trademark Licenses), including business name(s), website(s), telephone
numbers, customer lists, computers and Software and further including all rights under the Manufacturing Agreement dated December
6, 2012 by and between TPMD (as assignee of LD) and Mack; as well as any intellectual property developed by LD for TPMD under
the Development Agreement dated as of October 29. 2014 and any intellectual property related to infusion pump technology, whether
now existing or hereafter developed or acquired, relating to the Transferred Assets and the Intellectual Property Rights (as such
terms are defined in the Asset Purchase and Intellectual Property Assignment Agreement dated as of October 29, 2014 between LD
and TPMD); instruments, including Promissory Notes; Inventory; Investment Property, including Securities Accounts; Letter-of-Credit
Rights; Money; Supporting Obligations; and all Proceeds and Products of any of the foregoing to the extent not listed above as
original collateral, including money and cash proceeds, deposit accounts, securities accounts, insurance proceeds, and proceeds
i n the form of any of the types of property included in this collateral description.

 

5.           Modification
of Transaction Agreements.

 

a.           References
to Borrower.  From and after the Assignment Date, all references
to “Borrower” and/or “LD” in the Transaction Agreements shall mean TPMD, and references to the Borrower’s
chief executive office shall mean 665 Martinsville R d., Suite 219, Basking Ridge, NJ 07920.

 

    	 	3	 

     

    

 

b.           Amendments
to Loan Agreement. From and after the Assignment Date, the Loan Agreement shall be amended as follows:

 

i.            Numbering.
The parties hereto acknowledge and agree that the automatic numbering on the Loan Agreement executed at closing did not print
properly. The parties acknowledge and agree that the Loan Agreement numbering shall be corrected as marked in the copy of the
executed Loan Agreement attached hereto as Exhibit F.

 

ii.           References
to “Manufactured". All references to the defined term "Manufactured" in the Loan Agreement shall be changed
to "Sold."

 

iii.          Section
1.d. Section 1.d of the Loan Agreement is deleted in its entirety and replaced with the following:

 

'”d.           The
Obligations as defined in Section 4, shall be secured by this Loan Agreement."

 

iv.          Section
2.b. Section. 2.b. i s deleted in its ent irety and replaced with the following:

 

“Revenue
Participation Payments shall be paid quarterly in arrears beginning on April 1, 2013, within fifteen (15) days of the end of each
fiscal quarter. Borrower shall provide Lender with a Compliance Certificate in the form attached hereto as Exhibit A on
a quarterly basis, certifying as to the Devices Sold, at the earlier of the (0 date that the Revenue Participation Payments are
due, or (ii) the date for delivery of the financial statements and the other deliverables required under Section 8 hereof "

 

v.           Section
2.c.v. The first line of Section 2.c.v. of the Loan Agreement (definition of "Manufactured") is deleted in its entirety,
and replaced with the following:

 

“ ''Sold"
means the transfer, distribution, shipment, sale, license or lease of a Device to Lender or a third party1 by Borrower, Lender,
or by any third party that has received or acquired, directly or indirectly, from Borrower, or any successor in interest to Borrower,
a license, assign men t, or any other transfer of any rights in any of the Technology."

 

vi.          Section
7.a. Section 7.a. of the Loan Agreement is deleted in its entirety and replaced with the following:

 

''a.    Organization,
Etc. The Borrower is duly organized, validly existing and in good standing under the law of the State of Delaware and its legal
name is TurnPoint Medical Devices, Inc. and that this is not a trade name. Borrower does not conduct business through any other
business entity or name except as set forth in this Agreement. Borrower possesses full power and authority to conduct business
in its name and as now conducted. The execution, delivery and performance of the Transaction Agreements has been duly authorized
by Borrower each of the Transaction Agreements has been executed by a duly authorized agent of Borrower, and the execution, delivery
and performance of the Transaction Agreements by Borrower will not violate any provision of Borrower's organizational documents,
in each case as the. Transaction Agreements have been modified and amended by the Assignment and Assumption, Consent and Modification
Agreement dated as of February 24, 2015 by and among Borrower, Leveraged Developments LLC and Lender."

 

    	 	4	 

     

    

 

 

viiSection
7.b. Section 7.b. of the Loa n Agreement is deleted in its entirety and replaced with the following:

 

“ b.           Chief
Office. Borrower's chief executive office is located at 665 Martinsville Rd, Suite 219, Basking Ridge, NJ 07920, and that
is the Borrower’s only place of business."

 

viii.         Section
8.f.(i) and (ii). Sections 8.f.(i) and (ii) of the Loan Agreement are amended by adding the following at the end of each clause
(ii): ", together with a Compliance Certificate certified by an officer of the Borrower in the form attached hereto as Exhibit
A."

 

ix.            Section
8.g. Section 8.g. of the Loan Agreement is deleted in its entirety and replaced with the following:

 

"g.           Change
of Control Transaction; Name Change; Capitalization. Not to complete a Change of Control Transaction without Lender' prior
written consent, ,which will not be un reasonably conditioned, delayed or withheld; or change the name of Borrower or conduct
business under any other name other than Borrower' s name except upon sixty (60) days prior written notice to Lender. "Change
of Control Transaction" means (i) the acquisition by any person of Borrower if, after the acquisition, the acquiring person
is entitled to exercise more than thirty percent (30%) of the voting rights of Borrower; (ii) the merger or consolidation with
one or more persons or entities as a result of which the shift in voting rights referenced in the foregoing Section 8.g.i has
occurred or (iii) the sale of all or substantially all of the assets or Borrower. For clarity, Lender's consent shall not be required
if Borrower sells less than thirty percent (30%) of its voting rights in one or more transactions to a person or entity."

 

x.             Section
8.i. A new Section 8.i. shall be added to the Loan Agreement as follows

 

“i.            TPMD
Agreements. To comply with all provisions in the TPMD Agreements and .to use reasonable commercial efforts to cause Leveraged
Developments LLC to comply with all provisions in the TPMD Agreements, and provide Lender with prompt written notice of any defaults
under the TPMD Agreements.”

 

    	 	5	 

     

    

 

xi.            Section
9.a Subject to the terms of Section 9 below, Section 9.a. of the Loan Agreement is amended to provide that the collateral
also may be kept at the LD location at 75 Congress Street, Portsmouth, New Hampshire.

 

xii.         Section
9.c. Section 9.c. of the Loan Agreement is deleted in its entirety and replaced with the following:

 

"c.           No
Other Liens Except Permitted Liens. To keep the Collateral free and clear of all claims, liens, charges, encumbrances, taxes
and assessments, other than Permitted Liens. ''Permitted Liens" means any mortgage, pledge, hypothecation, assignment, deposit
arrangement, security interest, encumbrance, lien (statutory or otherwise), preference, priority or charge of any kind, which
is junior in lien priority to the security interest and l ien of Lender; provided, however, that no lien or security interest
which would otherwise be a Permitted Lien shall be held by any person who not a bank or institutional lender or other provider
of working capital or term loan indebtedness to Borrower. "

 

xiii.         Section
11e. Section 11.e. of the Loan Agreement is deleted in its entirety and replaced with the following:

 

''e.           Receipt
of evidence indicating that Lender's security interest i s not prior to all other security interests, or if a security interest
in or other encumbrance on any of the Collateral, other than Permitted Liens, is granted by Borrower, or any tax lien is filed
against Borrower."

 

xiv.         Section11f.
Section 11.f. of the Loan Agreement is deleted in its entirety and replaced with the following:

 

"f.            Upon
failure of Borrower to maintain its entity registration with the State of Delaware, business failure or cessation of business
operations of Borrower, or any change for any reason whatsoever in the ownership or control of Borrower, except as permitted hereunder."

 

xv.           Compliance
Certificate. A new Exhibit A is added to the Loan Agreement, attaching the form, of Compliance Certificate are attached hereto
as Schedule 1as Loan Agreement Exhibit A.

 

6.           Affirmation
of Transaction Agreements. TPMD does hereby (i) affirm and ratify the Transaction Agreements and (ii) affirm that the representations
and warranties set forth in the Transaction Agreements are true and correct as of the date hereof: and were true and correct as
of the Assignment Date, in each case as modified or amended herein. TPMD further agrees and affirms that the Loan Agreement as
modified or amended hereby shall continue to secure to Mack the Loan, including repayment of the indebtedness as evidenced by
the Note, together with The Revenue Participation Payments, interest and all other obligations arising under said Note and the
Transaction Agreements.

 

    	 	6	 

     

    

 

7.           Covenant
Regarding Filing Patent Assignment. Each of TPM and LD covenant and agree that they shall cause the Patent Assignment to be
filed with the United States Patent and Trademark Office (''US PTO") on or before March 6, 2015, together with documentation
reflecting the name change of Point Medical Inc. to TPMD, and provide Mack with written evidence of such filing. In addition,
TPMD and LD covenant and agree that they shall provide Mack with prompt notice of the US PTO's acceptance of such filing, together
with a copy of the correspondence regarding such acceptance from
the US PTO.

 

8.           Mack
Consent. Effective upon receipt of executed signature pages to this Agreement from both LD and TPMD, Mack, by
its execution hereof, hereby consents to the assignment of the Transaction Agreements by
LD to TPMD, such assignment to be effective as of the Assignment Date. Notwithstanding the foregoing, in the event that
Mack has not received signature pages from each of LD and TPMD to this Agreement on or before March 6, 2015, together with evidence
that the Patent Assignment and documentation of the name change of Point Medical Inc. to TPMD has been filed with the United States
Patent and Trademark Office, Mack's consent to the assignment shall be automatically revoked with no further action by Mack.

 

9.           No
Novation or Extinguishment. TPMD does not intend for the substitution and replacement of the Note and nothing in this Agreement
shall constitute, nor shall such be deemed to constitute a novation or extinguishment of the said Note and any obligations of
any kind or nature accruing or due thereunder, and the amendments and modifications effected hereby shall in no event impair,
limit, reduce or otherwise discharge the liability of TPMD or any obligor of the Note, which liability is hereby reaffirmed by
TPMD.

 

10.          LD
Waiver With Respect to Collateral. Mack understands that LD and TPMD have entered into the Development Agreement pursuant
to which LD shall continue to assist TPMD with product development and in connection therewith, LD is in possession of certain
of the Collateral. In consideration of the consents and releases granted herein, LD agrees as follows:

 

a.           To
the extent that any Collateral may be located on any of LD’s premises, LD waives any right it may now have or hereafter
have, whether such right arises by operation of law, by contract or otherwise, to distrain or levy upon, or to attach, seize or
otherwise assert ant security interest, lien or other claim with respect to, any of the Collateral.

 

b.           LD
further agrees that subject to the provision set forth in Section 9.c. below Mack shall have the right from time to time to enter
upon the LD premises in order to inspect, remove, take possession of, sell, or otherwise deal with the Collateral, and LD agrees
not to interfere with any sale or other disposition of the Collateral conducted by or at the direction of Mack under the terms
of the Transaction Documents.

 

c.           In
the exercise of its rights under the Transaction Agreements, Mack shall have no liability with respect to any LD premises except
for physical damage to such premises actually caused by Mack. In no event shall Mack be responsible to cure or otherwise satisfy
all unpaid or unperformed obligations of TPMD to LD.

 

    	 	7	 

     

    

 

l I .          No
Other Amendments: Except as expressly provided in this Agreement, the terms and conditions of the Transaction Agreements shall
remain unchanged and continue in full force and effect. Mack's agreement as set forth herein does not constitute a waiver of any
rights under the Transaction Agreements, including without limitation waiver of rights and remedies for any defaults that may
currently exist except to the extent expressly set forth herein.

 

12.         Conflicts.
In the event of a conflict between the terms and conditions of this Agreement, the Transaction Agreements and the terms and conditions
of the Purchase Agreement, the terms and conditions of this Agreement shall govern, supersede and prevail. This Agreement (including
the documents referred to herein, to the extent they have related in any way to the subject matter hereof) constitutes the entire
agreement between the parties and supersedes any prior understandings, agreements, or representations by or between the patties,
written or oral.

 

13.       Further
Assurances; Subordination. Each of the patties hereto covenants and agrees, at its own expense, to execute and deliver, at
the request of the other patty hereto, such further instruments of transfer and assignment and to take such other action as such
other party may reasonably request to more effectively consummate the assignments contemplated by this Agreement. At any time
and from time to time, as reasonably requested by Mack, TPMD will, at its own expense, take such further actions and execute,
acknowledge, deliver and record or file such further documents to create, maintain, or confirm the lien or security interest in
the Collateral. TPMD further agrees that upon request of the Mack, it shall take all necessary steps to subordinate any other
debt between TPMD and third-party lenders to the Loan, and obtain all necessary evidence of such subordinations, including written
subordination agreements from any other lienholders.

 

[Signature
pages follow.]

 

    	 	8	 

     

    

 

IN
WlTNESS WHEREOF, the undersigned have executed this Assignment and Assumption. Consent and Modification Agreement as of the date
first above written.

 

	TURNPOINT MEDICAL
    DEVICES, INC.	 
	 	 
	

        

        By:
	/s/ JERRY
    C. RUDDLE	 
	 	Name: 	JERRY
    C. RUDDLE	 
	 	Title:	PRESIDENT AND CEO	 

 

	LEVERAGED
    DEVE LDPMENTS LLC	 
	 	 
	By:	/s/ Jeffrey A. Caclule	 
	 	Name: 	Jeffrey A. Caclule	 
	 	Title: 	Founder, member	 

 

	MACK MOLDING COMPANY	 
	 	 
	By:	/s/ Florence M. Belnap	 
	 	Name: 	Florence M. Belnap	 
	 	Title: 	Secretary	 

 

    	 	9	 

     

    

 

EXHIBIT
F           LOAN AND SECURITY AGREEMENT

 

This
Loan and Security Agreement (the "Agreement") is made as of the 1st day of December, 2012 by and between Leveraged Developments
LLC, a New Hampshire limited liability company, with its chief executive office at 103 Winnicutt Road, P.O. Box 267, Stratham,
New Hampshire 03885-0267 ("Borrower"), and Mack Molding Company, a Vermont corporation, having a mailing address of
Warm Brook Road, Arlington, Vermont 05250 ("Lender").

 

Preliminary
Statement. Borrower is in the process of developing improvements to intravenous pumps and associated disposables for
use with intravenous (IV) pumps, with potential for use in other IV applications, and requires working capital for further
development of its technology. Lender is willing to provide a loan of up to Six Hundred Thousand Dollars $600,000.00) (the
"Loan") subject to obtaining a security interest in all of Borrower's assets of the Borrower and agreement on
future revenue participation payments, as more particularly set forth below, and upon the other terms and conditions set
forth herein.

 

Agreement.
In consideration of the mutual agreements and undertakings of the parties set forth in this Agreement and the other Transaction
Documents, Borrower hereby agrees with Lender as follows:

 

1.           Loan;
Term; Disbursement; Security:

 

a.           Subject
to the terms and conditions of this Agreement, Lender agrees to extend to Borrower a term loan in the original principal amount
of up to Six Hundred Thousand Dollars ($600,000.00) for a term of twenty five years from the date hereof, which shall be evidenced
by this Agreement and a promissory note of even date herewith (the "Note"). Proceeds of the Loan shall be used by
Borrower to facilitate the development, production and licensing of the Device, as defined below.

 

b.           Lender
will disburse Two Hundred Thousand Dollars ($200,000.00) as of the date of this Agreement (the "Funding
Date").

 

c.           Lender
will disburse an additional Two Hundred Thousand Dollars ($200,000.00) on April 1, 2013 (the "Second Loan Installment")
and also on August l, 2013 (the "Third Loan Installment"), subject to Lender's satisfaction, in its sole discretion,
with progress made in development, intellectual property protection,
production and licensing of the Device.

 

d.           The
Obligations, as defined in Section 4 below, shall be secured by this Loan Agreement and a pledge of all membership interests in
the Borrower by its principal Jeff Carlisle.

 

2:            Revenue
Participation Payments. In addition to the Loan payments provided
for in Section 1 and under the Note and as material consideration for Lender's agreement to make the Loan to Borrower, Borrower
agrees that it shall make the following revenue participation payments (collectively, the "Revenue Participation Payments")
to Lender:

 

    	 	10	 

     

    

 

LEVERAGED
DEVELOPMENT, LLC - LOAN AND SECURITY AGREEMENT

 

a            Payment
equal to Twenty Four Cents ($0.24) per Disposable Pump Set Manufactured and One Hundred Twenty Dollars ($120.00) per Pump Assembly
Manufactured, provided, however, that if (i) the Third Loan Installment is not made, the per unit rates shall decrease to Sixteen
Cents ($0.16) and Eighty Dollars ($80.00), respectively; and (iii) if the Second Loan Installment and Third Loan Installment are
not made, the per unit rate shall be Eight Cents ($0.08) and Forty Dollars ($40.00), respectively.

 

b.           Revenue
Participation Payments shall be paid quarterly in arrears beginning on April
1, 2013.

 

c.           As
used herein:

 

i.            Disposable
Pump Set means any and all disposable pump sets, devices, kits or parts including '"IV kits" and "administration
kits" that use, rely on, or otherwise incorporate any portions of the Technology.

 

ii.         Pump
Assembly means any and all pump assemblies, sub-assemblies or
control systems that use, rely on, or otherwise incorporate any portions of the Technology.

 

111.        Technology
means (i) the inventions disclosed in one or more of the patents or patent applications referenced in Schedule I, attached hereto
and made a part hereof; and (ii) the technology described in Schedule
III, attached hereto and made a part hereof.

 

iv.         Device
means a Disposable Pump Set, a Pump Assembly, and/or a combination of a Disposable Pumps Set and Pump Assembly.

 

iv.         Manufactured
means the manufacture, assembly, distribution, shipment, or sale of the Device by either Borrower, Lender or by any other third
party who has received or acquired, directly or indirectly, from Borrower, or any successor in
interest to Borrower, a license, assignment, or any other transfer of any rights in any of the Technology. Borrower agrees
that Borrower shall not license, assign or otherwise transfer any rights in the Technology without the prior written approval
of Lender, and without limiting the foregoing, any such license, assignment or other transfer must provide assurance adequate
to Lender that Borrower will, following such license, assignment or transfer, continue to collect and remit to Lender all applicable
Revenue Participation Payments.

 

d.           Revenue
Participation Payments shall continue for a period of 25 years from the date of this Agreement, and this Agreement shall remain
in effect until all Obligations hereunder have been fully paid and satisfied. Borrower acknowledges and agrees that the Revenue
Participation Payments are a separate and distinct payment obligation from the Loan obligations, and that the term of the Revenue
Participation Payments may continue beyond the term of the Note, and shall at all times be secured by the Collateral granted to
Lender under this Agreement. Borrower further acknowledges and agrees that Lender would not be making the Loan to Borrower but
for the parties' agreement for Revenue Participation Payments as provided in this Agreement

 

    	 	11	 

     

    

 

LEVERAGED
DEVELOPMENT, LLC - LOAN AND SECURITY AGREEMENT

 

e.           Upon
reasonable prior written notice for an audit, Borrower shall permit auditors designated by
Lender, together with such legal and technical support as Lender deems necessary, to examine and copy, during ordinary
business hours, all records and materials of Borrower for the purpose of verifying compliance with this Agreement. Borrower shall
cooperate with any audit. Lender shall be responsible for payment of the auditors; provided, however, however, in the event that
the audit establishes underpayment greater than five percent (5%) of the Revenue Participation Payments due for any period under
audit, Borrower shall reimburse Lender for the cost of the audit. Borrower shall pay any underpayment established by an audit,
with interest at the rate of one and one half percent (11/2
%) per month commencing on the date such payment became due, within thirty (30) days after receipt of an invoice from Lender.

 

3.            Prepayment.
Borrower shall have the right to prepay the Note at any time without prior Lender approval. The Revenue Participation Payments
shall continue for the 25-year term as provided in Section 2, and are not subject to prepayment without prior Lender agreement,
which may be withheld for any or no reason.

 

4.            Grant
of Security Interest. To secure prompt payment of all principal, interest, charges and expenses outstanding under the Note,
the Revenue Participation Payments, and performance of all obligations arising under the Transaction Documents (which term shall
mean the Note, this Loan and security Agreement, the manufacturing Agreement if the Option is exercised and all other documents
executed in connection with the Loan), and all extensions, modifications, substitutions and renewals thereof, including without
limitation any costs or expenses incurred by the Lender in connection with the same, together with any other indebtedness or obligations
now or hereafter owed by the Borrower to the Lender from time to time
(collectively, the "Obligations"), the Borrower hereby grants, sells, assigns, conveys, mortgages, pledges, hypothecates
and transfers to the Lender a continuing security interest in and lien on all of the Borrower's right, title and interest in
and to all of the following, whether now existing or hereafter developed or acquired (the “collateral"):

 

Accounts;
Chattel Paper, including Electronic Chattel Paper; Equipment, including computer programs embedded in
goods, machinery, fixtures, furniture, tools, parts, vehicles, and materials relating to the use, operation or structure
of any of the foregoing;

 

Deposit Accounts; Documents; Fixtures; intellectual property and General Intangibles (including without
limitation, Patents, Patent Applications and Patent Licenses, and Trademarks, Trademark Applications and Trademark Licenses),
including business name(s), website(s), telephone numbers, customer lists, computers and Software and further including all rights
under the Manufacturing Agreement; Instruments, including Promissory Notes; Inventory; Investment Property, including Securities
Accounts; Letter-of-Credit Rights; Money; Supporting Obligations; and all Proceeds and Products of any of the foregoing to the
extent not listed above as original collateral , including money and cash proceeds, deposit accounts, securities accounts, insurance
proceeds, and proceeds in the form of any of the types of property included in this collateral description.

 

As
used herein, the capitalized terms above shall have the meaning given to the term in the Uniform Commercial Code to be effective
in the State of New Hampshire, as amended from time to
time ("UCC'). The terms “include”, “includes” and "including" in this section and elsewhere
in this Agreement are not limiting and shall be construed to mean
'without limitation."

 

    	 	12	 

     

    

 

LEVERAGED DEVELOPMENT, LLC - LOAN ANDSECURITY
AGREEMENT

 

As
used herein, the following terms shall have the following meanings:

 

"General
Intangibles" means all of the Borrower's present and future
general intangibles as defined in the UCC and other personal property, including permits, licenses, choses in
action, copyrights and renewal thereof, copyright applications, mask works, mask work applications, trade secrets, goodwill,
patents, patent applications, trade names, trademarks, trademark applications, service marks, trade secrets, blueprints, drawings,
purchase orders, customer lists, monies due or recoverable from pension funds, route lists, claims under insurance policies (whether
or not proceeds), rights of set off, infringement claims, product lines, research and development, computer programs, computer
software, computer discs, computer tapes, literature, reports, catalogs, deposit amounts, insurance premium rebates, tax refunds,
tax refund claims and all leasehold interests of the Borrower to the extent considered personal property under applicable law.

 

"Patents,
Patent Applications and Patent Licenses" means all of the Borrower's present and future patents, patent applications
and patent licenses in which it possesses an ownership interest, including without limitation, .all those patents, patent applications,
and patent licenses referred to on Schedule I hereto.

 

"Trademarks,
Trademark Applications and Trademark Licenses" means all of the Borrower's present and future trademarks, trademark applications
and trademark licenses in which it possesses an ownership interest, including without limitation, all
of those trademarks, trademark applications and trademark licenses referred to on Schedule II hereto.

 

5.           Grant
of Option. Borrower hereby grants and conveys to Lender the exclusive option ("Option") and right to enter into
a contract for the exclusive manufacture of the Devices, subject to and in accordance with the terms and conditions of this Agreement.
The Option shall be , exercisable by Lender during the one (1) year period after the date of this Agreement (“Option Period").
The Option may not be revoked by Borrower during the Option Period. Lender may exercise the Option by
giving Borrower written notice of such exercise (the "Option Notice"), which written notice may be given at any
time after the date of this Agreement and on or before 11:59 p.m. (ET) on the last day of the Option Period. Immediately following
delivery of the Option Notice, the parties shall execute the Manufacturing Agreement in the form attached as Schedule IV
hereto and made a part hereof. After the Option Period expires, the Option will be of no further force and effect.

 

6.           Lender's
Obligations to Close. Lender's obligation to close shall be conditioned
upon Lender's receipt of the following:

 

a.           Patent
Search; IP Ownership: Lender's review of a patent search provided by Borrower. The cost of this search was estimated at Eight
Thousand Dollars ($8,000.00), which Lender has previously advanced to Borrower; and which Lender shall deduct from the initial
Loan disbursement. Borrower shall have provided Lender with evidence that Borrower's principal Jeffrey Carlisle shall have transferred
all intellectual property rights that he has or may claim in the Device to Borrower.

 

    	 	13	 

     

    

 

LEVERAGED
DEVELOPMENT, LLC - LOAN AND SECURITY AGREEMENT

 

b.           Authority
Documents: Evidence of Borrower's authority to enter into the Loan transaction, including copies of all of Borrower's organizational
documents and resolutions or authorizations concerning the Loan, all as certified by the
keeper of Borrower's records, together with evidence of Borrower's good standing as an entity, and an incumbency certificate as
to those authorized to execute Transaction Documents on behalf of Borrower.

 

c.           Legal
Opinion: An opinion of Borrower's counsel that the Transaction Documents have been duly authorized, executed and delivered
by Borrower, and constitute legal; valid and binding obligations of Borrower, in accordance with their respective terms.

 

d.           Insurance:
Evidence of insurance as required below.

 

7.             Representations
and Warranties. Borrower represents and warrants to Lender, as of the date hereof and during the term. of the Loan that:

 

a.           Organization.
Etc.     The Borrower is duly organized, validly existing and in
good standing under the law of the State of New Hampshire, and its legal name is correctly stated in the first paragraph
of this Agreement, and that this is not a trade name. Borrower does not conduct business through any other business entity or
name except as set forth in this Agreement. Borrower possesses full power and authority to conduct business in its name and as
now conducted. The execution, delivery and performance of the Transaction Documents has been duly authorized by Borrower. Each
of the Transaction Documents has been executed by a duly authorized agent of Borrower. The execution, delivery and performance
of the Transaction Documents by Borrower will not violate any provision of Borrower's organizational documents.

 

b.           Chief
Office. Borrower's chief executive office is located at the address set forth at the head of this agreement, and that is Borrower's
only place of business

 

c.           No
Conflicts. Neither the execution and delivery of this Agreement nor any of the Transaction Documents violates or conflicts
with any existing law or regulation, any order or decree of any
court or governmental authority, bureau or agency, or result in a
violation of or constitute a default by Borrower under any contract, agreement or instrument
by which Borrower is a party or by
which any of its properties are bound.

 

d.           Good
Title. Borrower has good and marketable title to, or the power to transfer, all of the Collateral, free and clear of any liens,
security interests or encumbrances. None of the Collateral is subject to any consignment agreement or is in possession of any
bailee, warehouseman, agent or processor.

 

e.           Litigation:
Violations: Defaults. There are no actions, litigation, suits, proceedings, inquiries or investigations, at law or in equity,
or before or by any court, public board or body, pending, threatened against or affecting Borrower that could adversely affect
Borrower's business, profits or :financial condition or their ability to perform its obligations under the Transaction Documents.
Borrower is not in breach of any contract, agreement, license, permit or approval that could materially adversely affect Borrower's
business, profits or financial condition or the Borrower's ability to perform its obligations under the Transaction Documents. 

 

    	 	14	 

     

    

 

LEVERAGED DEVELOPMENT,
LLC - LOAN AND. SECURITY AGREEMENT

 

f.            No
Pending Insolvency. Any borrowings made by Borrower subject to this Agreement do not and shall not render Borrower insolvent;
Borrower is not contemplating the filing of a petition under any state,
federal or provincial bankruptcy or insolvency laws or a petition for the liquidation of or to appoint a receiver for all or a
major portion of its property,

nor
does Borrower have any knowledge of any person contemplating the filing of any such petition against Borrower or its
assets.

 

g.           Financial
Statements. All financial statements of Borrower including balance sheets, statements of income, retained earnings and other
related schedules heretofore submitted to Lender fairly represent the financial condition of Borrower as of the dates shown on
each such statement.

 

h.           Intellectual
Property. Borrower possesses all requisite patents, patent rights, licenses, trademarks, trademark rights, trade names and
copyrights that are required to conduct. its business as now conducted without conflict with the rights of others.

 

i.            Compliance
with Laws. Borrower is in material compliance with all statutes, regulations, rules and ordinances applicable to Borrower
or any of its properties. Borrower has obtained all licenses, permits and approvals (including all regulatory approvals) necessary
to operate its business and execute, deliver and perform the Transaction Documents.

 

j.            Binding
Effect. The Transaction Documents and all of the other instruments and documents executed by Borrower and delivered to Lender
pursuant to this Agreement, constitute the legal, valid and binding obligations of Borrower and are enforceable in accordance
with their respective terms.

 

Borrower
acknowledges that the representations and warranties set forth in this paragraph are material to
Lender's agreement to extend credit to Borrower and that Lender has relied on these representations and warranties, which
shall remain in effect for so long as the Obligations remain outstanding. Borrower agrees to notify Lender promptly in writing
of any change in the information referenced in this section.

 

8.          General
Covenants. For so long as the Obligations remain outstanding, Borrower covenants and warrants to Lender as follows:·

 

a.           Laws
and Permits. To comply with all laws, regulations, ordinances and other legal requirements applicable to Borrower or its properties
and with all licenses, permits and approvals required in connection with operation of Borrower's business.

 

b.           Taxes
and Obligations. To pay and discharge when due all of its indebtedness and obligations, including, but not limited to, all
taxes, assessments and governmental charges prior to the due date, unless and only to the extent that such truces, assessments
and governmental charges are contested in good faith in appropriate proceedings.

 

    	 	15	 

     

    

 

LEVERAGED DEVELOPMENT, LLC - LOAN
AND SECURITY AGREEMENT

 

c.           Insurance.
To make its best efforts to secure commercially available insurance within thirty (30) days of closing of this Agreement and to
maintain such insurance with insurers acceptable to Lender in such amounts as are acceptable to Lender, including hazard and extended
coverage covering all Collateral; such liability and casualty policies shall name Lender under a standard loss payable clause,
and shall provide for at least thirty (30) days prior written notification to Lender of any termination, cancellation, or material
modification of such policies, and within :fifteen (15) days after written notice from Lender, Borrower shall obtain such additional
insurance as Lender may reasonably request. Certificates of such insurance shall be deposited with Lender. Borrower shall give
immediate written notice to Lender and to insurers of loss or damage to the Collateral and shall promptly file proofs of loss
with insurers. Lender is authorized, but under no duty, at Borrower's expense, to obtain such insurance or file proofs of loss
upon failure of the Borrower to do so.

 

d.           Books
and Records. To keep proper books of record and account in accordance with generally accepted accounting principles consistently
applied at its place of business as stated above, to permit Lender
to review such records during business hours on reasonable notice and not to remove the
business records from that location without the prior
consent of Lender.

 

e.           Additional
Instruments. On demand of the Lender to promptly do the following: furnish further assurance of title, execute any written
agreement or do any other acts necessary to effectuate the provisions of this Agreement; execute such instruments or statements
as the Lender may reasonably require in order to perfect, continue or maintain the security interest of the Lender in the Collateral
and to pay all costs of filing in connection therewith; and execute
additional promissory notes evidencing future extensions of credit. To the extent permitted by law, for the term of this Agreement
the Borrower authorizes the Lender to act as its attorney-in-fact and agent for the purpose of executing or authorizing any financing
statements or similar instruments in the name of the Borrower from time to time and at such times as the Lender deems necessary
to attach, perfect or continue perfection of a security interest in the Collateral.

 

f.            Financial
Statements. To provide Lender with (i) annual, accountant-prepared financial statements within
45 days of
year end, (ii) quarterly
management-prepared financial statements within 15 days of the end of each quarter, (iii) a copy of all Borrower's federal and
state tax returns within 15 days of filing, and such other financial information as Lender shall reasonably request.

 

g.           Reorganization;
Ownership Change. To not merge or consolidate with or acquire any sole proprietorship, limited or general partnership, corporation,
limited liability company, or other business entity; permit any change in the ownership or level of ownership of Borrower, or
issue, sell or purchase any interest in Borrower's business; or change the name of Borrower or conduct business under any other
name other than Borrower's name.

 

h.           Loan
Proceeds. To not permit any of the proceeds of the Loan to
be used directly or indirectly for the benefit of or by any affiliated person or entity of
Borrower that is not now or in the future made a party to this Agreement. Payment of reasonable amounts of salary or compensation
to the member of Borrower for his services does not violate this provision.

 

    	 	16	 

     

    

 

LEVERAGED
DEVELOPMENT, LLC - LOAN AND SECURITY
AGREEMENT

 

9.             Additional
Covenants as to Collateral For so long as the Obligations remain outstanding, Borrower further covenants and warrants to Lender
as follows:

 

a.           Location.
To keep the Collateral at the address set forth above; or, if the
Borrower wishes to keep Collateral at another location, to notify the Lender in writing at least thirty (30) days prior to the
movement or location of any of Collateral to a new location and to obtain the Lender's written consent prior to moving any items
of Collateral to the new location.

 

b.           Condition.
To keep the Collateral, at the Borrower's own cost and expense, in good condition and available for inspection by
Lender at all reasonable times.

 

c.           No
Other Liens. To keep the Collateral free and clear of all claims, liens, charges, encumbrances, taxes and assessments, other
than liens and encumbrances permitted under the Transaction Documents.

 

d.           Possession.
To retain possession of the Collateral during the existence of this Agreement and not to sell, exchange, assign, loan, deliver,
lease or otherwise dispose of same

·without
the written consent of Lender, except that Borrower may sell the Collateral in the ordinary course of its business.

 

e.           Sales
and Licensing Records. To keep detailed records of all sales or licensing of the Collateral and, upon request of the Lender,
to furnish copies of such records or permit inspection of relevant records at the Borrower's premises, at the Lender's discretion.

 

f.            Location
Lease. To comply with all terms of any lease pertaining to the premises where the Collateral may be located, and with all
laws, ordinances and governmental rules, orders and regulations pertaining to the Borrower's business and the premises where the
Collateral is kept.

 

g.           Inventory
Schedule. To furnish from time to time, at the Borrower's expense, within fifteen (15) days after requested by the Lender,
a schedule of inventory prepared by a party satisfactory to the Lender and such other information relating to the Borrower's business
as the Lender may reasonably request.

 

h.           Protection
of lntellectual Property Rights. Borrower shall ensure that all employees or parties developing any
intellectual property on behalf of Borrower are obligated to assign all rights in such property to Borrower. Borrower shall
defend the Collateral from and make all commercially reasonable efforts to prosecute any
misappropriation or unauthorized use.

 

10.           Power
of Attorney. The Borrower hereby grants to the Lender a Power
of Attorney, which shall be deemed coupled with an interest and shall be irrevocable, (a) to demand, sue for, and give an effectual
discharge of any sum payable to the Borrower for Collateral assigned to the Lender; (b) to endorse in the Lender's favor any negotiable
instrument drawn in the Borrower's favor in payment of the Collateral assigned to the Lender; (c) to execute on behalf of the
Borrower any notes, chattel paper, UCC financing statements, amendments thereto and continuations thereof (or similar statements
of notice, registration, amendment or continuation under the laws of any jurisdiction), or other writing in connection with this
Agreement or the Collateral as the Lender may require for the purpose of protecting, maintaining or enforcing the Collateral or
the security interest granted to the Lender in the Collateral; (d) to adjust, make, pursue, settle and collect any
insurance claim in connection with this Agreement; and (e) to discharge taxes and encumbrances at any time levied or placed
on the Collateral, or otherwise protect the Collateral, and to make repairs thereof. The Borrower agrees to reimburse the Lender
on demand for any and all expenditures made in connection with
any of the foregoing powers exercised by the Lender hereunder.

 

    	 	17	 

     

    

 

LEVERAGED DEVELOPMENT,
LLC • LOAN AND SECURITY AGREEMENT

 

11.         Events
of Default. Without
limitation of the rights
or remedies of the parties otherwise at law, any of the following shall constitute an "Event of Default" by
the Borrower under this Agreement:

 

a.           If
Borrower defaults in the payment of any amount due under the Note, this Agreement or any
of the Transaction Documents within five (5) days of when due.

 

b.           If
Borrower defaults in the performance of any term or provision of this Agreement or any of the Transaction Documents, other
than a payment default or a default specified in another provision of this section.

 

c.           If
any custodian, liquidator, trustee or receiver is appointed for Borrower for
a material portion of its assets; or Borrower becomes insolvent or bankrupt, is generally not paying its debts as they become
due or makes an assignment for the benefit of creditors; or Borrower or any
guarantor applies for or consents to the appointment of a custodian, liquidator, trustee or receiver for itself or any
material portion of its assets; or bankruptcy, reorganization, or insolvency proceedings or other proceedings for relief under
any bankruptcy or similar law or laws for relief of debtors, are instituted by or against Borrower.

 

d.           If
any statement or representation contained in this Agreement, any Loan Document, or any financial statement or certificate
delivered to Lender shall be determined to have been materially false when made; or if any representation or warranty contained
in this Agreement shall be breached, and such breach is not ·cured within 10 days.

 

e.           Receipt
of any information indicating that Lender's security interest is not prior to all other security interests, or if a security interest
in or other encumbrance on any of the Collateral is granted by
Borrower, or any tax lien is filed against Borrower.

 

f.           Upon
failure of Borrower to maintain its entity registration with the State of New Hampshire, business failure or cessation of business
operations of, Borrower or any change
for any reason whatsoever in the management, majority ownership
or control of Borrower.

 

12.           Remedies
Upon Default. Upon the occurrence of an Event of Default under the this Agreement or the other Transaction Documents, which
continues beyond any applicable cure period, the Lender may exercise any one or more of the following remedies: (a) declare the
Obligations secured by this Agreement to be due and payable in full without notice or demand; (b)
demand that the Borrower assemble the Collateral and make it available to the Lender at the place and at the time designated in
the demand; (c) to the extent permitted by law, enter, without process of law, all locations where the Collateral is kept, take
possession of the Collateral; (d) operate the Borrower's business (directly or indirectly, including through appointment
of a receiver) using the Collateral; (e) conduct a public or private sale of the Collateral at its discretion and in accordance
with the UCC; (f) contact account debtors and direct that future payments be made directly to the Lender; and (g) exercise any
other right, remedy or privilege provided under the UCC or otherwise at law.

 

    	 	18	 

     

    

 

LEVERAGED DEVELOPMENT, LLC - LOAN
AND SECURITY AGREEMENT

  

In addition
to all rights and remedies provided in this Agreement or by law. if an Event of Default occurs, the Lender may dispose of any
of the Collateral at public auction or private sale in its then present condition or following such preparation and processing
as Lender deems commercially reasonable. Lender has no duty to the Borrower to prepare or process the Collateral prior to sale.
Lender may disclaim warranties of title, possession, quiet enjoyment and the like. Such actions by the Lender shall not affect
the commercial reasonableness of the sale.

 

Further, the Lender may comply with any applicable state or federal law requirements
in connection with a disposition of the Collateral and compliance
will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral.

 

Lender
may purchase all or any part of the Collateral at public or private sale, and in
lieu of actual payment of such purchase price, may set-off the amount of such price against the Obligations.

 

The
Borrower hereby waives any and all rights that it may have to judicial hearing in advance of the enforcement of any of the Lender's
rights hereunder, including without limitation Lender's right following an Event of Default to take immediate possession of the
Collateral and exercise its rights with respect thereto. All payments received by the Borrower under or in connection with any
of the Collateral after the occurrence of an Event of Default shall be held by the Borrower in
trust for the benefit of the Lender, shall be segregated from other funds of the Borrower and shall forthwith upon receipt
by the Borrower be turned over to the Lender, inthe same form
as received by the Borrower (duly endorsed by the Borrower to the Lender, if
required).

 

The
Lender may perform any defaulted obligations for the Borrower's account and any expense incurred in so doing shall be chargeable
with interest at the Note rate to the Borrower and added, to the
Obligations.

 

The
Borrower shall remain liable for any deficiency resulting from a sale of the Collateral and shall pay any such deficiency forthwith
on demand.

 

13.           Limitation
on the Lender's Duty in Respect to Collateral and Indemnification.
It is
expressly agreed by the Borrower that, notwithstanding anything to the contrary contained in this Agreement, the Borrower shall
remain liable with respect to all Accounts, Negotiable Collateral, General Intangibles and other Collateral to observe and perform
all the conditions and obligations to be observed and performed by it, the Lender shall not have any obligation or liability under
any Accounts, Negotiable Collateral, General Intangibles and other Collateral (which terms shall have the meaning given them in
the UCC unless otherwise defined in this Agreement) by reason of, or arising out of, this Agreement or the assignment by the Borrower
to the Lender of, or the receipt by the Lender of any payment relating to any Accounts, Negotiable Collateral, General Intangibles
and other Collateral pursuant
hereto, nor shall the Lender be required or obligated in any manner to perform or fulfill any
of the obligations of the Borrower under or pursuant thereto to make any payment, to make any inquiry as to the nature or the
sufficiency of any payment received by it or the sufficiency of any performance by any person thereunder or by any account debtor,
to present or file any claim or to take any action to collect or enforce any performance or the payment of any amounts that may
have been assigned to the Borrower or to which the Borrower may be entitled at any time or times.

 

    	 	19	 

     

    

 

LEVERAGED DEVEWPMENT,
LLC - LOAN ANO SECURITY AGREEMENT

 

Beyond
the safe custody thereof, the Lender shall have no duty as to any Collateral in its possession or in
its nominee's possession or any income thereon or as to the preservation of
rights against prior parties or any other rights pertaining thereto. In any suit, proceeding or action brought by
the Lender under any Accounts, Negotiable Collateral, General Intangibles and other Collateral for any sum owing thereunder
or to enforce any provision thereof, the Borrower will defend, indemnify and hold harmless the Lender from and against all expense,
loss or damage suffered by reason of any defense, setoff, counterclaim, recoupment or reduction or liability whatsoever of the
obligee thereunder arising out of a breach by the
Borrower of any agreement, indebtedness or liability at any time
owing to or in favor of such obligee or its successors from the Borrower, and all such obligations of the Borrower shall be and
remain enforceable against the Borrower and shall not be enforceable against the Lender.

 

14.         Borrower
Not Released. Lender may from time to time, either before or after the maturity of the Obligations, take any one or more of
the following actions without affecting the liability of Borrower or any other person (except any person expressly released in
writing) under the Note, this Agreement or the other Transaction Documents, and without affecting the rights of Lender
with respect to any security not expressly released in writing: (i) release any person or entity liable for payment of all or
any part of the Obligations or for performance of any obligation contained in the Transaction Documents; (ii) make any agreement
extending the time or otherwise altering the terms of payment of all or any part of the Obligations, or modifying or waiving any
obligation in the Transaction Documents, or subordinating, modifying or otherwise dealing with the lien or charge hereof; (iii)
exercise or refrain from exercising or waive any right Lender may have W1der this Agreement, under the Transaction Documents,
or otherwise available under applicable law; (iv) accept additional security of any kind; or (v) release or otherwise deal with
any property, real or personal, seeming the Obligations.

 

15.         Notices.
All notices required to be delivered pursuant to
this Agreement or the Transaction Documents shall be in writing and shall be delivered by
hand, facsimile, electronic mail, recognized overnight courier or deposited in the U.S. Mail postage pre-paid, and shall
be addressed to the parties at the addresses set forth
in the first paragraph of this Agreement, or to such other addresses as the
parties may designate in writing from time to time. Such notices are deemed received on the date delivered by hand, facsimile
or electronic mail if delivered before 5:00 p.m. EST, and the next day if delivered thereafter, on the day after placement with
recognized overnight courier for next-day delivery, and two days after deposit in the U.S. Mail.

 

16.         Expenses.
Borrower and Lender will each pay their respective expenses in
connection with this Agreement and the preparation of the initial Transaction Documents, including attorneys' fees. Borrower shall
be responsible for and shall pay forthwith on demand any and all
reasonable expenses, including reasonable attorneys' fees and recording costs, reasonably incurred
by Lender in connection with any
subsequent amendment of
the Transaction. Documents, any waiver of any conditions of the Transaction Documents requested by Borrower, or enforcing any
of Lender's rights hereunder or under any of the other Transaction Documents.

 

    	 	20	 

     

    

 

LEVERAGED DEVELOPMENT,
LLC - LOAN AND SECURITY AGREE1\1ENT

 

·17.         Consent
to Jurisdiction; Waiver of Jury Trial. In the event that Lender brings any action or proceeding in connection herewith in
any court of record of New Hampshire, Borrower hereby irrevocably consents to and confers personal jurisdiction of such court
over Borrower by such court. In any such action or proceeding, Borrower hereby waives personal service of any summons, complaint,
or other process and agrees that service thereof may be made upon Borrower by mailing a copy
of such summons, complaint or other process by certified mail to Borrower at its address designated pursuant to the notice
provisions of this Agreement.

 

Borrower
hereby waives 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 Borrower and Lender.

 

18.         General.
The terms, warranties and agreements herein contained shall bind and inure to the benefit of the respective parties hereto,
and their respective legal representatives, successors and assigns. Waiver of or acquiescence in any default by the Borrower,
or failure of the Lender to insist upon strict performance by the Borrower of any provision of this Agreement, shall not
constitute a waiver of any subsequent or other default or failure. Notices to any party shall be in \\rr.iting
and shall be delivered personally or by mail
addressed to the party at the address herein set forth or otherwise designated in writing. This Agreement may only be
modified by a writing
signed by the Borrower and the Lender. The laws of the State
of New Hampshire, including the UCC, shall govern the rights, duties and remedies of the parties. In the event of any provision
or clause of this Agreement conflicts with applicable law, such conflict shall not affect other provisions which can be given
effect without the conflicting provision, and to this end the provisions of this Agreement are declared to be severable. All
rights and remedies hereunder shall be governed by the
laws of the State of New Hampshire without resort to principles of conflicts of laws.

 

[Signature
pages follow.]

 

    	 	21	 

     

    

 

IN
WITNESS WHEREOF, the parties have respectively duly executed this Loan and Security Agreement the day and year first above written.

 

	Mack Molding Company	 	Leveraged Developments
    LLC
	 	 	 	 
	Signature:	 	 	Signature:	/s/ Jeffrey
    Carlisle
	Name:	 	 	Name: 	Jeffrey Carlisle 
	Title:	 	 	Title:	Member
	Date:	 	 	Date:	06. December 2012

 

     

     

    

 

LEVERAGED DEVELOPMENT,
LLC • LOAN ANO SECURITY AGREEMENT

 

SCHEDULE
I

 

PATENTS,
PATENT APPLICATIONS 

AND PATENT LICENSES

 

	Code	 	Heading	 	Number
	 	 	 	 	 

 

No
patents have been filed as of 1st December 2012.

 

This
schedule will be updated as intellectual property protections are filed, as described in INTELLECTUAL PROPERTY AGREEMENT of 5
December 2012.

 

     

     

    

 

LEVERAGED DEVELOPMENT,
LLC • LOAN AND SECURJTY AGREEMENT

 

SCHEDULE
II

 

TRADEMARKS.
TRADEMARK APPLICATIONS

AND
TRADEMARK LICENSES

 

	Title	 	Registration
    No.	 	Reg.
    Date

 

No TRADEMARKS have been filed as of 1st
December, 2012

 

This schedule will
be updated as intellectual property protections are filed, as described in INTELLECTUAL PROPERTY AGREEMENT of 5 December 2012.

 

     

     

    

 

LEVERAGED DEVELOPMENT,
LLC - LOAN AND SECURITY AGREEMENT

 

SCHEDULE
III

 

DESCRIPTION
OF TECHNOLOGY

 

Refer
to the description of the Technology in

INTELLECTUAL
PROPERTY AGREEMENT of 5 December 2012.

 

     

     

    

 

LEVERAGED DEVELOPMENT,
LLC – LOAN AND SECURITY AGREEMENT

 

SCHEDULE
IV MANUFACTURING AGREEMENT

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