Document:

Exhibit 10.25

 

GUARANTY AGREEMENT

 

THIS GUARANTY AGREEMENT,
dated as of February 24, 2021 by GOLD LIMITED LIABILITY COMPANY, a California limited liability company; GOLD/GOLD/GOLD, INC.,
a California corporation; LOGOART LLC, a Kentucky limited liability company; QGM, LLC, an Ohio limited liability company;
QG REFINING, LLC, an Ohio limited liability company; J&M GROUP HOLDINGS, INC., a Delaware corporation, and J&M
GROUP HOLDINGS ITALY, LLC, an Ohio corporation (together, the “Guarantors”) in favor of BANK OF MONTREAL,
a Canadian chartered bank with offices located at First Canadian Place, 100 King Street West, 20th Floor, Toronto, ON M5X 1A1 (the “Lender”).

 

WITNESSETH:

 

Background. Pursuant
to that certain Master Bullion Consignment Agreement dated as of the date hereof among QUALITY GOLD, INC., an Ohio corporation
with a place of business at 500 Quality Boulevard, Fairfield, Ohio 45014 (“Quality Gold”) and MTM, INC., a
Delaware corporation with a place of business at 500 Quality Boulevard, Fairfield, Ohio 45014 (“MTM”) (Quality Gold
and MTM are hereinafter sometimes collectively referred to, “singly, as a “Borrower” and, together, as the “Borrowers”),
and the Lender, as amended from time to time (as amended, the “Consignment Agreement”), the Lender has agreed to extend
an uncommitted precious metal consignment facility to the Borrowers. The Guarantors are affiliates of the Borrowers through common ownership,
and the financing of the Borrowers by the Lender will result in a financial benefit to the Guarantors. In order to induce the Lender
to extend the credit facilities to the Borrowers pursuant to the Consignment Agreement, the Guarantors have agreed to guaranty the payment
and performance of the obligations, indebtedness and liabilities of the Borrowers to the Lender on the tennis and conditions, and subject
to the limitations, hereinafter set forth.

 

NOW, THEREFORE, in consideration
of the foregoing and intending to be legally bound hereby, the Guarantors hereby agree as follows:

 

1.            
In consideration of any and all loans, advances, acceptances, consignments of precious metal, discounts and extensions of credit
made by the Lender to, for the account of, or on behalf of the Borrowers, and as an inducement for the Lender to make future loans, consignments,
advances, acceptances, discounts and extensions of credit to, for the account of, or on behalf of the Borrowers, the Guarantors hereby
absolutely and unconditionally, jointly and severally, guaranty to the Lender the punctual payment in full of the principal, interest
and all other sums and amounts due and to become due from the Borrowers to the Lender at any time and from time to time from the date
hereof until termination of the liability of the Guarantors hereunder to the extent hereinafter provided, on account of any and all obligations,
indebtedness and liabilities of the Borrowers to the Lender, whether now existing or hereafter incurred, whether direct, indirect or
contingent, whether otherwise guaranteed or secured, and whether on open account or evidenced by a note, draft, check or other agreement,
instrument or document (all of which obligations, indebtedness and liabilities are hereinafter referred to individually as an “Obligation”
and collectively as the “Obligations”), including, without limitation, all obligations, indebtedness and liabilities
evidenced by or incurred pursuant to the Consignment Agreement (collectively, the “Financing Agreements”).

 

     

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2.             
All capitalized terms used herein without definition shall have the meanings assigned by the Consignment Agreement.

 

3.            
The Guarantors hereby expressly waive the following: notice of the incurring of indebtedness by the Borrowers; presentment and
demand for payment, protest, notice of protest and notice of dishonor or non-payment of any instrument evidencing Obligations of the
Borrowers; any right to require suit against the Borrowers or any other party before enforcing this Guaranty Agreement; any right to
have security applied before enforcing this Guaranty Agreement; notice of acceptance of this Guaranty Agreement; notice of any default
hereunder or under any agreement evidencing any of the Obligations; all other notices and demands otherwise required by law which the
Guarantors may lawfully waive; and any right of subrogation to the Lender’s rights against the Borrowers until the Borrowers’
Obligations are paid in full. The Guarantors hereby expressly agree that the Lender may, in its sole and absolute discretion, without
notice to or further assent of the Guarantors, and without in any way releasing, affecting or impairing the obligations and liabilities
of the Guarantors hereunder: (a) waive compliance with, or any default under, or grant any other indulgences with respect to, any of
the Obligations or any agreement or instrument securing any of the Obligations; (b) modify, amend or change any provisions of any of
the Obligations; (c) grant extensions or renewals of or with respect to any of the Obligations, and/or effect any release, compromise
or settlement in connection therewith; (d) agree to the substitution, exchange, release or other disposition of all or any part of the
collateral at any time securing any Obligation; (e) make advances for the purposes of performing any term or covenant contained in any
agreement evidencing any of the Obligations or any instrument or agreement securing the Obligations, with respect to which the Borrowers
shall be in default; (f) assign or otherwise transfer any agreement evidencing any of the Obligations and any instrument or agreement
securing the Obligations, including without limitation, this Guaranty Agreement, or any interest therein; and (g) deal in all respects
with the Borrowers as if this Guaranty Agreement were not in effect. The obligations of the Guarantors under this Guaranty Agreement
shall be unconditional, irrespective of the genuineness, validity, regularity or enforceability of any agreement evidencing any of the
Obligations or any other circumstances which might otherwise constitute a legal or equitable discharge of a surety or guarantor.

 

4.            
The liability of the Guarantors under this Guaranty Agreement shall be primary, joint and several, direct and immediate and not
conditional or contingent upon pursuit by the Lender of any remedies they may have against the Borrowers or any other party with respect
to the Obligations or any instrument or agreement securing the Obligations, whether pursuant to the terms thereof or otherwise. No exercise
or nonexercise by the Lender of any right given to it hereunder or under any agreement evidencing any of the Obligations or any instrument
or agreement securing any of the Obligations, and no change, impairment or suspension of any right or remedy of the Lender shall in any
way affect any of the Guarantors’ obligations hereunder or give the Guarantors any recourse against the Lender. Without limiting
the generality of the foregoing, the Lender shall not be required to make any demand on the Borrowers and/or any other party, or otherwise
pursue or exhaust its remedies against the Borrowers or any other party, before, simultaneously with or after, enforcing its rights and
remedies hereunder against the Guarantors or any of them. Any one or more successive and/or concurrent actions may be brought hereon
against any of the Guarantors either in the same action, if any, brought against the Borrowers and/or any other party, or in separate
actions, as often as any holder of an Obligation, in its sole discretion, may deem advisable. Any action brought on this Guaranty Agreement
with respect to one or more Obligations shall not prevent the commencement of subsequent or separate actions with respect to any other
Obligations.

 

     

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5.            
As a material inducement to the Lender, the Guarantors hereby represent and warrant to the Lender (which representations and warranties
shall survive the execution of this Guaranty Agreement) that:

 

(a)           
Each Guarantor (i) is duly organized, validly existing and in good standing under the laws of its state of organization or formation,
(ii) has the requisite corporate or limited liability company power and authority to own its properties and to carry on business as now
being conducted, and holds all material permits, authorizations and licenses, without material restrictions or limitations, which are
necessary for such ownership or business activity, (iii) is qualified to do business in every jurisdiction where such qualification is
necessary except where the failure to so qualify does not have a material adverse effect on the business or operations of the Guarantor
taken as a whole, and (iv) has the requisite corporate or limited liability company power to execute, deliver and perform this Guaranty
Agreement. No Guarantor has any reason to believe that any such material permits, authorizations or licenses will be revoked, canceled,
rescinded, modified or lost.

 

(b)         
The execution, delivery and performance by the Guarantors of the terms and provisions of this Guaranty Agreement have been duly
authorized by all requisite corporate or limited liability company action and will not violate any provision of law, any order of any
court or other agency of government, the articles of incorporation or association or by-laws or operating agreement of the Guarantors
or any indenture, agreement or other instrument to which any of the Guarantors is a party, or by which any of the Guarantors is bound,
or be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under, or, except as
may be provided by this Guaranty Agreement, result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever
upon any of the property or assets of the Guarantors pursuant to, any such indenture, agreement or other instrument.

 

(c)           
There is no action, suit or proceeding at law or in equity or by or before any governmental instrumentality or other agency now
pending or, to the knowledge of the Guarantors, threatened, against or affecting the Guarantors which, if adversely determined, would
have a material adverse effect on the business, operations, properties, assets or condition, financial or otherwise, of the Guarantors.

 

(d)          
No Guarantor is party to any agreement or instrument or subject to any charter or other corporate restriction adversely affecting
its business, properties or assets, operations or conditions, financial or otherwise.

 

(e)          
The Guarantors are not in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions
contained in any agreement or instrument to which it is a party which has not been disclosed to the Lender in writing.

 

     

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(f)           
The Guarantors have good title to all of their properties and assets, free and clear of all mortgages, security interests, restrictions,
liens and encumbrances of any kind, except for Permitted Liens.

 

(g)          
To the best of the Guarantors’ knowledge, no statement of fact made by or on behalf of the Guarantors in this Guaranty Agreement
or in any certificate or schedule furnished to the Lender pursuant hereto, contains any untrue statement of a material fact or omits
to state any material fact necessary to make statements contained therein or herein not misleading. There is no fact presently known
to the Guarantors specific to the Guarantors’ business or their assets or operations which has not been disclosed to the Lender
which materially affects adversely, nor as far as the Guarantors can reasonably foresee, will materially affect adversely the property,
business, operations or condition (financial or otherwise) of the Guarantors provided however that this representation does not apply
to any facts relating to or arising from (i) changes in GAAP generally applicable to companies engaged in a business which is the same
or similar to the Guarantors’ business, or (ii) changes in laws applicable to companies engaged in the same or similar business
as the Guarantors’ business.

 

(h)          
The Guarantors have filed or has obtained extensions to file all federal, state and local tax returns required to be filed and
has paid or made adequate provision for the payment of all federal, state and local taxes, charges and assessments./ow

 

(i)           
This Guaranty Agreement and all other agreements executed by the Guarantors in connection herewith have been duly executed and
delivered by the Guarantors and constitute legal, valid and binding obligations of the Guarantors, enforceable in accordance with their
respective terms, subject to bankruptcy, insolvency, reorganization and other similar laws of general application affecting the rights
of creditors generally.

 

(j)            
No Event of Default, and no event which, with the passage of time or the giving of notice, or both, would become such an Event
of Default, has occurred and is continuing.

 

(k)          
The Guarantors are in compliance in all material respects with all federal, state and local statutes relating to the handling,
storage, use or disposal of chemicals and other hazardous substances used in the course of their business.

 

(l)          
To the best of the Guarantors’ knowledge, the Guarantors possess all patents, patent rights and licenses, trademarks, tradenames
and copyrights which are required to conduct its business without conflict with the rights of others.

 

(m)         
The Guarantors do not intend to, or believe that they will, incur debts beyond their ability to pay such debts as they mature,
taking into account the timing of and amounts of cash to be received by the Guarantors and the timing of and amounts of cash to be payable
on or in respect of Indebtedness of the Guarantors.

 

(n)          
Neither the Guarantors nor any of their Affiliates or any of their respective agents acting or benefiting in any capacity in connection
with the transactions contemplated by this Guaranty Agreement (a) is a person whose property or interest in property is blocked or subject
to blocking pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With
Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)), (b) engages in or conspires to engage in any
dealings or transactions prohibited by Section 2 of such executive order, or is otherwise associated with any such person in any manner
violative of Section 2, or (c) is a person on the list of Specially Designated Nationals and Blocked Persons or subject to the limitations
or prohibitions under any other U.S. Department of Treasury’s Office of Foreign Assets Control regulation or executive order or
any similar international order or regulation.

 

     

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(o)          
The Guarantors and the Guarantors’ Affiliates are in compliance, in all material respects, with (i) the Trading with the
Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle
B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) the Uniting And Strengthening
America By Providing Appropriate Tools Required To Intercept And Obstruct Terrorism (USA Patriot Act of 2001). No part of the proceeds
of the credit facilities extended to the Guarantors will be used, directly or indirectly, for any payments to any governmental official
or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity,
in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices
Act of 1977, as amended.

 

(p)          
The Guarantors and their Affiliates are in compliance in all material respects with all relevant export, re-export and import
laws applicable to the Guarantors and such Affiliates, as the case may be. Neither the Guarantors nor any of their Affiliates have shipped
or provided any item for delivery to, and are not currently providing any services in or to, a country, entity or individual in violation
of any applicable export or re-export laws, including, without limitation, such laws and regulations promulgated or enforced by the United
States Department of Treasury, United States Department of Commerce, or United States Department of State, and are not currently providing
any services, to a country or an individual in violation of any export or re-export laws.

 

(q)          
None of the Guarantors nor any of their Affiliates, nor any director or officer, or any employee, agent, or Affiliate of the Guarantors
or any of their Affiliates is a Person that is, or is owned or controlled by Persons that are, (i) the subject of any sanctions administered
or enforced by the United States Department of the Treasury’s Office of Foreign Assets Control, the United States Department of
State, the United Nations Security Council, the European Union, Her Majesty’s Treasury, the Hong Kong Monetary Authority or other
relevant sanctions authority (collectively, “Sanctions”), or (ii) located, organized or resident in a country or territory
that is, or whose government is, the subject of Sanctions, including, without limitation, currently, Cuba, the Crimea region of Ukraine,
Iran, North Korea, Sudan and Syria.

 

(r)           
Neither the Guarantors nor any of their Affiliates, nor to the knowledge of the Guarantors, any director, officer, agent, employee,
Affiliate or other person acting on behalf of the Guarantors or any of their Affiliates is aware of or has taken any action, directly
or indirectly, that would result in a violation by such Persons of any applicable anti-bribery law, including but not limited to, the
United Kingdom Bribery Act 2010 (the “UK Bribery Act”) and the United States Foreign Corrupt Practices Act of 1977
(the “FCPA”). Furthermore, the Guarantors and, to the knowledge of the Guarantors, their Affiliates and Subsidiaries,
have conducted their businesses in compliance with the UK Bribery Act, the FCPA and similar laws, rules or regulations and have instituted
and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance
therewith.

 

     

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6.            
From the date hereof and until (a) the Obligations have been paid in full, and (b) the Consignment Facility and the Forward Contract
Facility have been terminated, the Guarantors shall:

 

(a)          
Do or cause to be done all things necessary to preserve, renew and keep in full force and effect their corporate existence, rights,
licenses, permits and franchises and comply with all laws and regulations applicable to the Guarantors; at all times maintain, preserve
and protect all franchises and trade names and preserve all the remainder of their property used or useful in the conduct of their business
and keep the same in good repair, working order and condition, and from time to time, make, or cause to be made, all needful and proper
repairs, renewals, replacements, betterments and improvements thereto, so that the business carried on in connection therewith may be
properly and advantageously conducted at all times.

 

(b)          
Comply with all applicable laws and regulations, whether now in effect or hereafter enacted or promulgated by any governmental
authority having jurisdiction in the premises.

 

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

 

(d)          
Unless otherwise explicitly waived by the Lender in writing, furnish to the Lender promptly, from time to time, such information
regarding their operations, assets, business, affairs and financial condition, including, without limitation, accounts receivable reports
and agings as the Lender may reasonably request.

 

(e)           
With respect to environmental matters:

 

(i)              comply
strictly and in all respects with the requirements of all federal, state, and local environmental laws; notify the Lender promptly in
the event of any spill, hazardous waste pollution or contamination affecting the Premises, the removal of which in accordance with law
would involve the expenditure of in excess of Twenty-Five Thousand Dollars ($25,000); forward to the Lender promptly any notices relating
to such matters received from any governmental agency; and pay promptly when due any fine or assessment against the Premises;

 

(ii)             
immediately contain and remove any hazardous or toxic material found on the Premises in violation of applicable law, which work
must be done in compliance with applicable laws and at the Guarantors’ reasonable expense; and the Guarantors hereby agree that
the Lender has the right, in its sole discretion but at the Guarantors’ expense, to have an environmental engineer or other representative
review the work being done;

 

     

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(iii)           
promptly upon the request of the Lender, based upon the Lender’s reasonable belief that a hazardous waste or other environmental
problem exists with respect to the Premises in violation of applicable law, provide the Lender with an environmental site assessment
report or an update of any existing report, all in scope, form and content and performed by the Guarantors as may be reasonably satisfactory
to the Lender; and

 

(iv)          
indemnify, defend, and hold the Lender harmless from and against any claim, cost, damage (including, without limitation, consequential
damages), expense (including, without limitation, reasonable attorneys’ fees and expenses), loss, liability, or judgment now or
hereafter arising as a result of any claim for environmental cleanup costs, any resulting damage to the environment and any other environmental
claims against the Guarantors, the Lender, or the Premises. The provisions of this subparagraph (iv) shall continue in effect and shall
survive (among other events) any termination of this Guaranty Agreement, foreclosure, a deed in lieu of foreclosure transaction, payment
and satisfaction of the obligations evidenced hereby or incurred pursuant hereto, and release of any collateral.

 

(f)           
Keep their insurable properties adequately insured at all times, by financially sound and reputable insurers, to such extent and
against such risks, including fire and other risks insured against by extended coverage, and maintain liability and such other insurance
as is customarily maintained by companies engaged in similar businesses. All insurance provided shall be effected under valid and enforceable
policies, in such forms and in such amounts as may from time to time be reasonably required by the Lender, issued by financially sound
and responsible insurance companies which are rated in the current edition of Best’s Key Rating Guide Property - Casualty
as A- or better and which are admitted in the jurisdiction in which the assets are located, or are approved under the applicable states’
surplus lines insurance laws, and all premiums with respect to such insurance shall be paid as and when due. Not less than fifteen (15)
days prior to the expiration dates of insurance policies theretofore furnished pursuant to this Guaranty Agreement, the Guarantors shall
deliver to the Lender copies of all insurance policies (together with Acord Form 27 (2/84) or other similar forms satisfactory to the
Lender) evidencing the insurance coverage required by the Lender. All policies of insurance shall provide for thirty (30) days notification
in advance of any cancellation, non-renewal or material change in policy conditions, including cancellation for non-payment of premium.
All policies of insurance provided for or contemplated by this Guaranty Agreement shall name the Lender as an additional insured and
loss payee, as its interests may appear. All policies of insurance provided for in this Guaranty Agreement shall, to the extent obtainable,
contain clauses or endorsements to the effect that:

 

(i)             
no act or negligence of the Guarantors, or anyone acting for the Guarantors, which might otherwise result in a forfeiture of such
insurance or any part thereof shall in any way affect the validity or enforceability of such insurance insofar as the Lender is concerned;
and

 

     

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(ii)             
the Lender shall not be liable for any premiums or subject to any assessments on the policies.

 

Losses under each policy of insurance provided
for or contemplated by this Paragraph shall be adjusted with the insurers and/or underwriters and paid directly to the Lender and the
Guarantors as their interests may appear. The Guarantors shall pay all costs and expenses of collecting or recovering any insurance proceeds
under such policies, including, but not limited to, any and all fees of attorneys, appraisers and adjusters.

 

(g)          
Neither the Guarantors nor any of their Affiliates will, directly or indirectly, use the proceeds of the Consignment Facility
or the Forward Contract Facility or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner
or other Person, for the purpose of facilitating the activities of any person, or in any country or territory, in violation of the applicable
requirements of the United States Export Administration Regulations, the rules and regulations thereunder and any related or similar
rules, regulations or guidelines, issued, administered or enforced by any Governmental Agency.

 

(h)          
None of the Guarantors nor any of their Affiliates will, directly or indirectly, use the proceeds of the Consignment Facility
or the Forward Contract Facilities or lend, contribute or otherwise make available such proceeds to any Affiliate, joint venture partner
or other Person, (a) to fund any activities or business of or with any Person, or in any country or territory, that, at the time of such
funding, is, or whose government is, the subject of Sanctions, or (b) in any other manner that would result in a violation of Sanctions
by any Person (including any Person participating in the Consignment Facility whether as underwriter, advisor, investor or otherwise).

 

(i)            
No part of the proceeds of the Consignment Facility or the Forward Contract Facility will be used, directly or indirectly, for
any payments that could constitute a violation of any applicable anti-bribery law.

 

7.            
Any notice, demand, request or other communication given hereunder or in connection herewith (hereinafter “Notices”)
shall be deemed sufficient if in writing; and shall be sent by any one of the following: certified mail, return receipt requested; overnight
courier; confirmed telecopier; or by hand and shall be addressed (a) if to the Guarantors, to the Guarantors at the Guarantors’
addresses as set forth herein, and (b) if to the Lender, to the Lender at the Lender’s Address set forth herein. Notices shall
be deemed effective three (3) days after deposit in the mail, if sent by certified mail; the next business day, if sent by overnight
courier; upon confirmation, if sent by confirmed telecopier; upon delivery, if sent by hand. and upon confirmation of receipt, if sent
by electronic mail. Without affecting the effectiveness of a notice sent by telecopier, a courtesy copy of any notice sent by telecopier
may be sent by regular mail. The address of any party hereto for such demands, notices and other communications may be changed by giving
notice in writing at any time to the other party hereto.

 

8.            
All payments shall be made by the Guarantors at the office of the Lender herein set forth or such other place as the Lender may
from time to time specify in writing in lawful currency of the United States of America in immediately available funds, without counterclaim
or setoff and free and clear of, and without any deduction or withholding for, any taxes or other payments.

 

     

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9.            
All rights and remedies afforded to the Lender by reason of this Guaranty Agreement or by law are separate and cumulative and
the exercise of one shall not in any way limit or prejudice the exercise of any other such rights or remedies. No delay or omission by
the Lender in exercising any such right or remedy shall operate as a waiver thereof. No waiver of any rights or remedies hereunder, and
no modification or amendment hereof, shall be deemed made by the Lender unless in writing and duly executed. Any such written waiver
shall apply only to the particular instance specified therein and shall not impair the further exercise of such right or remedy or of
any other right or remedy of the Lender, and no single or partial exercise of any right or remedy hereunder shall preclude further exercise
of any other right or remedy.

 

10.          
The obligation of the Guarantors to make payment in accordance with the terms of this Guaranty Agreement shall not be impaired,
modified, changed, released or limited in any manner whatsoever by any impairment, modification, change, release or limitation of the
liability of the Borrowers or their estates in bankruptcy or reorganization resulting from the operation of any present or future provision
of Title 11 of the United States Code or other statute or from the decision of any court. The obligations of the Guarantors hereunder
shall survive any judgment, order, or decree subordinating or voiding in whole or in part the obligations of the Borrowers to the Lender
and shall extend to the repayment of any sums recovered from the Lender on any basis (including any provision of Chapter 5 of Title 11,
United States Code) either before or after satisfaction in full by the Borrowers of their obligations to the Lender.

 

11.          
In the event of any breach of any covenants set forth herein, all indebtedness of the Borrowers, regardless of its terms, shall,
at the Lender’s election, be deemed for the purposes of this Guaranty Agreement to have become matured, and at the Lender’s
election, the Guarantors shall promptly pay to the Lender the entire amount of said indebtedness of the Borrowers, and the Lender may
take any action deemed necessary or advisable to enforce this Guaranty Agreement.

 

12.         
If an Event of Default shall occur which shall be continuing, all indebtedness of the Borrowers shall, for the purpose of this
Guaranty Agreement, be deemed at the Lender’s election to have become immediately due and payable.

 

13.         
The Guarantors further agree to pay the Lender any and all costs, expenses and reasonable attorneys’ fees paid or incurred
by the Lender in collecting or endeavoring to enforce this Guaranty Agreement (the “Reimbursable Expenses”). All accounts,
deposits, and property of the Guarantors with or in the hands of the Lender shall be and stand pledged as collateral security for the
indebtedness of the Guarantors, and the Lender shall have the same rights of setoff with respect to deposits and other credits of the
Guarantors as the Lender may have with respect to the deposits and other credits of the Borrowers.

 

14.         
This Guaranty Agreement shall operate as an irrevocable and continuing guaranty of all obligations, liabilities and indebtedness
of the Borrowers incurred under the Financing Agreements. As to Obligations not incurred pursuant to the Financing Agreements, this Guaranty
Agreement shall operate as a continuing guaranty and shall terminate as to the Guarantors only upon written notice signed by the Guarantors
and actually received by the Lender, but such termination shall be effective only as to indebtedness of the Borrowers incurred subsequent
to the receipt of such notice by the Lender, and this Guaranty Agreement shall remain in full force and effect as to all indebtedness
and Obligations of the Borrowers theretofore incurred.

 

     

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15.          
All agreements between the Guarantors and the Lender are hereby expressly limited so that in no contingency or event whatsoever,
whether by reason of acceleration of maturity of the indebtedness evidenced hereby or otherwise, shall the amount paid or agreed to be
paid to the Lender for the use or the forbearance of the indebtedness evidenced hereby exceed the maximum permissible under applicable
law. As used herein, the term “applicable law” shall mean the law in effect as of the date hereof; provided, however, that
in the event there is a change in the law which results in a higher permissible rate of interest, then this Guaranty Agreement shall
be governed by such new law as of its effective date. In this regard, it is expressly agreed that it is the intent of the Guarantors
and the Lender in the execution, delivery and acceptance of this Guaranty Agreement to contract in strict compliance with the laws of
the State of New York from time to time in effect. If, under or from any circumstances whatsoever, fulfillment of any provision hereof
or of any of the credit documents at the time of performance of such provision shall be due, shall involve transcending the limit of
such validity prescribed by applicable law, then the obligation to be fulfilled shall automatically be reduced to the limits of such
validity, and if under or from circumstances whatsoever the Lender should ever receive as interest an amount which would exceed the highest
lawful rate, such amount which would be excessive interest shall be applied to the reduction of the principal balance evidenced hereby
and not to the payment of interest. This provision shall control every other provision of all agreements between the Guarantors and the
Lender.

 

16.          
The Guarantors hereby grant to the Lender, a continuing lien, security interest and right of setoff as security for all liabilities
and obligations to the Lender, whether now existing or hereafter arising, upon and against all deposits, credits, collateral and property,
now or hereafter in the possession, custody, safekeeping or control of the Lender or any entity under the control of the Lender and its
successors and assigns or in transit to any of them. At any time, without demand or notice (any such notice being expressly waived by
the Guarantors), the Lender may setoff the same or any part thereof and apply the same to any liability or obligation of the Guarantors
even though unmatured and regardless of the adequacy of any other collateral securing this Guaranty Agreement. ANY AND ALL RIGHTS TO
REQUIRE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THIS GUARANTY AGREEMENT OR THE CONSIGNMENT
AGREEMENT, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE GUARANTORS, ARE HEREBY
KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

 

     

    - 11 -

    

 

17.           
THE GUARANTORS AGREE THAT ANY ACTION, DISPUTE, PROCEEDING, CLAIM OR CONTROVERSY BETWEEN THE GUARANTORS AND THE LENDER WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE (“DISPUTE” OR “DISPUTES”) SHALL, AT THE LENDER’S ELECTION, WHICH
ELECTION MAY BE MADE AT ANY TIME PRIOR TO THE COMMENCEMENT OF A JUDICIAL PROCEEDING BY THE LENDER, OR IN THE EVENT OF A JUDICIAL PROCEEDING
INSTITUTED BY THE GUARANTORS AT ANY TIME PRIOR TO THE LAST DAY TO ANSWER AND/OR RESPOND TO A SUMMONS AND/OR COMPLAINT MADE BY THE GUARANTORS,
BE RESOLVED BY ARBITRATION IN ACCORDANCE WITH THE PROVISIONS OF THIS PARAGRAPH AND SHALL, AT THE ELECTION OF THE LENDER, INCLUDE ALL
DISPUTES ARISING OUT OF OR IN CONNECTION WITH (A) THIS GUARANTY AGREEMENT OR ANY RELATED AGREEMENTS, NOTES OR INSTRUMENTS, (B) ALL PAST,
PRESENT AND FUTURE AGREEMENTS INVOLVING THE GUARANTORS AND THE LENDER, (C) ANY TRANSACTION RELATED TO THIS GUARANTY AGREEMENT AND ALL
PAST, PRESENT AND FUTURE TRANSACTIONS INVOLVING THE GUARANTORS AND THE LENDER, AND (D) ANY ASPECT OF THE PAST, PRESENT OR FUTURE RELATIONSHIP
OF THE GUARANTORS AND THE LENDER. The Lender may elect to require arbitration of any Dispute with the Guarantors without thereby being
required to arbitrate all Disputes between the Lender and the Guarantors. Any such Dispute shall be resolved by binding arbitration in
accordance with Article 75 of the New York Civil Practice Law and Rules and the Commercial Arbitration Rules of the American Arbitration
Association (“AAA”). In the event of any inconsistency between such Rules and these arbitration provisions, these provisions
shall supersede such Rules. All statutes of limitations which would otherwise be applicable shall apply to any arbitration proceeding
under this Paragraph. In any arbitration proceeding subject to this Paragraph, the arbitration panel (the “arbitrator”) is
specifically empowered to decide (by documents only, or with a hearing, at the arbitrator’s sole discretion) pre-hearing motions
which are substantially similar to pre-hearing motions to dismiss and motions for summary adjudication. In any such arbitration proceeding,
the arbitrator shall not have the power or authority to award punitive damages to any party. Judgment upon the award rendered may be
entered in any court having jurisdiction. Whenever an arbitration is required, the parties shall select an arbitrator in the manner provided
in this Paragraph. No provision of, nor the exercise of any rights under, this Paragraph shall limit the right of the Lender (a) to foreclose
against any real or personal property collateral through judicial foreclosure, by the exercise of the power of sale under a deed of trust,
mortgage or other security agreement or instrument, pursuant to applicable provisions of the Uniform Commercial Code, or otherwise herein
pursuant to applicable law, (b) to exercise self-help remedies including but not limited to setoff and repossession, or (c) to request
and obtain from a court having jurisdiction before, during or after the pendency of any arbitration, provisional or ancillary remedies
and relief including but not limited to injunctive or mandatory relief or the appointment of a receiver. The institution and maintenance
of an action or judicial proceeding for, or pursuit of, provisional or ancillary remedies or exercise of self-help remedies shall not
constitute a waiver of the right of the Lender and, even if the Lender is the plaintiff, to submit the Dispute to arbitration if the
Lender would otherwise have such right. Whenever an arbitration is required under this Paragraph, the arbitrator shall be selected, except
as otherwise herein provided, in accordance with the Commercial Arbitration Rules of the AAA. A single arbitrator shall decide any claim
of $100,000 or less and he or she shall be an attorney with at least five years’ experience. Where the claim of any party exceeds
$100,000, the Dispute shall be decided by a majority of three arbitrators, at least two of whom shall be attorneys (at least one of whom
shall have not less than five years’ experience representing commercial banks). The arbitrator shall have the power to award recovery
of all costs and fees (including attorneys’ fees, administrative fees, arbitrator’s fees, and court costs) to the prevailing
party. In the event of any Dispute governed by this Paragraph, each of the parties shall, subject to the award of the arbitrator, pay
an equal share of the arbitrator’s fees.

 

18.          
THE GUARANTORS AGREE THAT ANY ACTION, SUIT OR PROCEEDING IN RESPECT OF OR ARISING OUT OF THIS GUARANTY AGREEMENT MAY BE INITIATED
AND PROSECUTED IN THE STATE OR FEDERAL COURTS, AS THE CASE MAY BE, LOCATED IN NEW YORK COUNTY, NEW YORK AND ANY ARBITRATION PROCEEDING
PURSUANT HERETO SHALL BE CONDUCTED IN NEW YORK, NEW YORK. EACH GUARANTOR CONSENTS TO AND SUBMITS TO THE EXERCISE OF JURISDICTION OVER
ITS PERSON BY ANY SUCH COURT HAVING JURISDICTION OVER THE SUBJECT MATTER, WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT AND
CONSENTS THAT ALL SUCH SERVICE OF PROCESS BE MADE BY CERTIFIED MAIL DIRECTED TO THE GUARANTOR AT ITS ADDRESS SET FORTH HEREIN OR TO ANY
OTHER ADDRESS AS MAY APPEAR IN THE LENDER’S RECORDS AS THE ADDRESS OF THE GUARANTOR. THE GUARANTOR AGREES THAT A FINAL JUDGMENT
IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY LAW.

 

     

    - 12 -

    

 

19.          
THE GUARANTORS AND THE LENDER MUTUALLY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN RESPECT
OF ANY CLAIM BASED HEREON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY AGREEMENT OR ANY OTHER CREDIT DOCUMENTS CONTEMPLATED
TO BE EXECUTED IN CONNECTION HEREWITH OR ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS
OF ANY PARTY, INCLUDING, WITHOUT LIMITATION, ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS OR ACTIONS OF THE LENDER RELATING
TO THE ADMINISTRATION OF THE CREDIT FACILITY, OR THE ENFORCEMENT OF THIS GUARANTY AGREEMENT OR THE CONSIGNMENT DOCUMENTS, AND AGREE THAT
NEITHER THE GUARANTORS NOR THE LENDER WILL SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE
OR HAS NOT BEEN WAIVED. EXCEPT AS PROHIBITED BY LAW, THE GUARANTORS HEREBY WAIVE ANY RIGHT GUARANTORS MAY HAVE TO CLAIM OR RECOVER IN
ANY LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES.
THE GUARANTORS CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE LENDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE LENDER
WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER. THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR LENDER
TO ACCEPT THIS GUARANTY AGREEMENT AND TO EXTEND THE CREDIT FACILITIES TO THE BORROWERS.

 

20.          
Neither this Guaranty Agreement nor any provision hereof may be changed, waived, discharged or terminated orally but only by a
statement in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought.

 

21.          
This Guaranty Agreement shall be construed in accordance with and governed by the laws of the State of New York (excluding the
laws applicable to conflicts or choice of law). If any provision of this Guaranty Agreement is held to be illegal or unenforceable for
any reason whatsoever, such illegality or unenforceability shall not affect the validity of any other provision hereof.

 

     

    - 13 -

    

 

22.          
This Guaranty Agreement shall be binding upon the Guarantors and the Guarantors’ heirs, executors, successors and assigns,
and shall inure to the benefit of Lender and its successors and assigns. The terms “Guarantors” and “Borrowers”
and any pronouns referring thereto as used herein shall be construed in the masculine, feminine, neuter, singular or plural as the context
may require.

 

23.          
The Lender shall not be required to make any demand on the Borrowers or to exhaust its remedies against the Borrowers before,
concurrently with or after enforcing its rights hereunder against the Guarantors. Any number of separate, successive or concurrent actions
may be brought against the Borrowers or the Guarantors as the Lender may determine in its sole discretion.

 

*The next page is a signature page*

 

     

     

    

 

IN WITNESS WHEREOF, this
Guaranty Agreement has been executed and delivered to the Lender by the duly authorized officers of the undersigned Guarantors as of
the date first above written.

 

	WITNESS	 	GOLD LIMITED LIABILITY
    COMPANY
	 	 	 
	/s/
    Dennis Horn	 	By:	/s/
    Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: Chief Financial Officer

 

	 	 	Address for notices:
	 	 	 
	 	 	500
    Quality Blvd.
	 	 	Fairfield
    OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Guaranty Agreement]

 

     

     

    

 

	WITNESS	 	GOLD/GOLD/GOLD, INC.
	 	 	 
	/s/
    Dennis Horn	 	By:	/s/
    Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: Chief Financial Officer

 

	 	 	Address for notices:
	 	 	 
	 	 	500
    Quality Blvd.
	 	 	Fairfield
    OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Guaranty Agreement]

 

     

     

    

 

	WITNESS	 	LOGOART LLC
	 	 	 
	/s/
    Dennis Horn	 	By:	/s/
    Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: Manager

 

	 	 	Address for notices:
	 	 	 
	 	 	500
    Quality Blvd.
	 	 	Fairfield
    OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Guaranty Agreement]

 

     

     

    

 

	WITNESS	 	QGM, LLC
	 	 	 
	/s/
    Dennis Horn	 	By:	/s/
    Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: Manager

 

	 	 	Address for notices:
	 	 	 
	 	 	500
    Quality Blvd.
	 	 	Fairfield
    OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Guaranty Agreement]

 

     

     

    

 

	WITNESS	 	QG REFINING, LLC
	 	 	 
	/s/
    Dennis Horn	 	By:	/s/
    Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: President / Treasurer

 

	 	 	Address for notices:
	 	 	 
	 	 	500
    Quality Blvd.
	 	 	Fairfield
    OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Guaranty Agreement]

 

     

     

    

 

	WITNESS	 	J&M GROUP HOLDINGS, INC.
	 	 	 
	/s/
    Dennis Horn	 	By:	/s/
    Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: President / Secretary

 

	 	 	Address for notices:
	 	 	 
	 	 	500
    Quality Blvd.
	 	 	Fairfield
    OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Guaranty Agreement]

 

     

     

    

 

	WITNESS	 	J&M GROUP HOLDINGS ITALY, LLC
	 	 	 
	/s/
    Dennis Horn	 	By:	/s/
    Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: President / Treasurer

 

	 	 	Address for notices:
	 	 	 
	 	 	500
    Quality Blvd.
	 	 	Fairfield
    OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Guaranty Agreement]Exhibit 10.26

 

SECURITY AGREEMENT

 

THIS AGREEMENT (the “Security
Agreement”) made as of February 24, 2021 by and between GOLD LIMITED LIABILITY COMPANY, a California limited liability
company; GOLD/GOLD/GOLD, INC., a California corporation; LOGOART LLC, a Kentucky limited liability company; QGM, LLC,
an Ohio limited liability company; QG REFINING, LLC, an Ohio limited liability company; J&M GROUP HOLDINGS, INC., a
Delaware corporation, and J&M GROUP HOLDINGS ITALY, LLC, an Ohio corporation (together, the “Debtors” and
individually a “Debtor”); and BANK OF MONTREAL, a Canadian chartered bank with offices located at First Canadian
Place, 100 King Street West, 20th Floor, Toronto, ON M5X 1A1 (the “Secured Party”).

 

1.            
The Security Interests.

 

(a)          
In order to secure the due and punctual payment and performance of (i) that certain Guaranty Agreement of the Debtors in favor
of the Secured Party dated as of the date hereof, as amended from time to time (as amended from time to time, the “Guaranty Agreement”)
pursuant to which the Debtors have guaranteed the payment and performance of all obligations, liabilities and indebtedness of QUALITY
GOLD, INC., an Ohio corporation (“Quality Gold”) and MTM, INC., a Delaware corporation (“MTM”)
(Quality Gold and MTM are hereinafter sometimes collectively referred to herein as the “Borrowers”) to the Secured
Party, including without limitation, all obligations, liabilities and indebtedness of the Borrowers to Secured Party pursuant to that
certain Master Bullion Consignment Agreement among the Borrowers and the Secured Party dated as of the date hereof, as amended from time
to time (as amended, the “Consignment Agreement”), and (ii) all other future advances to the Debtors or the Borrowers
by the Secured Party and the due and punctual payment and performance of all other indebtedness, liabilities and obligations of the Debtors
and the Borrowers to the Secured Party, of every kind and description, whether direct, indirect or contingent, now or hereafter existing,
due or to become due, and howsoever arising, incurred or evidenced (all of the foregoing are hereinafter called the “Secured
Obligations”), the Debtors hereby grant to the Secured Party a continuing security interest in the following described personal
property (hereinafter collectively called the “Collateral”):

 

All fixtures and all
tangible and intangible personal property of the Debtors, whether now owned or hereafter acquired by the Debtors, or in which the Debtors
may now have or hereafter acquire an interest, including, without limitation, (a) all Equipment (including all machinery, tools and furniture),
Inventory (including all merchandise, raw materials, work in process, finished goods and supplies), and Goods, whether now owned or hereafter
acquired by the Debtors or acquired on consignment, or in which the Debtors may now have or hereafter acquire an interest (the “Tangible
Collateral”); (b) all Accounts, accounts receivable, other receivables, contract rights, Chattel Paper, and General Intangibles
of the Debtors (including, without limitation, goodwill, patents, trademarks, tradenames, blueprints, designs, product lines and research
and development), whether now owned or hereafter acquired by the Debtors, or in which the Debtors may now have or hereafter acquire an
interest; (c) all Instruments, documents of title, policies and certificates of insurance, securities, bank deposits, Deposit Accounts,
checking accounts and cash now or hereafter owned by the Debtors, or in which the Debtors may now have or hereafter acquire an interest;
(d) all the Debtors’ rights under consignment agreements with vendors of the Debtors’ memo programs and all security therefor;
(e) Commercial Tort Claims, Documents, Fixtures, Investment Property and Letter-of-Credit Rights presently owned or hereinafter acquired
by the Debtors, including, without limitation, books and records, supporting obligations, contract rights or rights to the payment of
money, trademarks, service marks, tradenames, copyrights and trade secrets, policies and certificates of insurance and all amounts payable
to the Debtors or rights of the Debtors under or with respect to any such insurance, including, without limitation, all proceeds, refunds
and premium rebates, whether any such proceeds, refunds and premium rebates, arise out of any of the foregoing, or otherwise, money, cash
or other property, federal, state and local tax refunds and/or abatements to which the Debtors is, or shall become, entitled, no matter
how or when arising, including, but not limited to, any carryback tax refunds, all liens, guarantees, rights, remedies and privileges
pertaining to any of the foregoing, including the right of stoppage in transit; (f) all accessions, additions or improvements, to all
replacements, substitutions and parts for, and all proceeds and products to all of the foregoing; and (g) all books, records and documents
relating to all of the foregoing.

 

     

     

    

 

(b)          
All Collateral consisting of Accounts, contract rights, Chattel Paper and General Intangibles of the Debtors, whether now existing
or hereafter existing, and arising from the sale, delivery or provision of goods and/or services are sometimes hereafter collectively
called the “Customer Receivables”.

 

(c)         
The security interests granted pursuant to this Section 1 (the “Security Interests”) are granted as security only and
shall not subject the Secured Party to, or transfer or in any way affect or modify, any obligation or liability of the Debtors under any
of the Collateral or any transaction which gave rise thereto.

 

(d)         
In the event that any of the contract rights would be or become voidable or would be violated on account of the security interest
contemplated herein, the security interest in the specific contract right which requires such consent shall be void ab initio and in such
event the Debtors covenant and agree to exercise all of their rights and remedies under such contract at the direction of and for the
benefit of the Secured Party.

 

(e)         
“Accounts”, “Chattel Paper”, “Commercial Tort Claim”, “Consumer Goods”, “Deposit
Accounts”, “Documents”, “Equipment”, “Fixtures”, “General Intangibles”, “Goods”,
 “Instruments”, “Inventory”, “Investment Property” and “Letter-of-Credit Rights”
shall have the meaning assigned to each in the Uniform Commercial Code in effect in the State of New York from time to time (the “UCC”).

 

2.            
Delivery of Chattel Paper. The Secured Party may at any time or from time to time, at its sole reasonable discretion, require
the Debtors to cause any chattel paper included in the Customer Receivables to be delivered to the Secured Party or any agent or representative
designated by it, or to cause a legend referring to the Security Interests to be placed on such chattel paper and upon any ledgers or
other records concerning the Customer Receivables.

 

    - 2 -

     

    

 

3.            
Letter of Credit Rights. If the Debtors are now or at any time hereafter shall become a beneficiary under a letter of credit,
the Debtors shall promptly notify the Secured Party thereof and, at the request and option of the Secured Party, the Debtors shall, pursuant
to an agreement in form and substance satisfactory to the Secured Party, either (a) arrange for the issuer and any conformer or other
nominated person of such letter of credit to consent to an assignment to the Secured Party of the proceeds of the letter of credit, or
(b) arrange for the Secured Party to become the transferee beneficiary of the letter of credit, with the Secured Party agreeing, in each
case, that the proceeds of the letter of credit are to be applied to the Obligations.

 

4.            
Commercial Tort Claims. If the Debtors now hold or shall at any time hereafter acquire a commercial tort claim (as defined
in Revised Article 9 of the UCC, regardless of whether Revised Article 9 is then in effect in such jurisdiction), the Debtors shall immediately
notify the Secured Party of the brief details thereof and shall grant to the Secured Party a security interest therein and in the proceeds
thereof (in form satisfactory to the Secured Party); and such claim and proceeds shall thereafter be deemed Collateral under the terms
of this Security Agreement.

 

5.            
Filing; Further Assurances. The Debtors will, at their expense, execute, deliver, file and record (in such manner and form
as the Secured Party may require), or permit the Secured Party to execute, authenticate, file and record, with or without any signature
and by electronic means, any financing statements, continuation statement or amendments thereto, any carbon, photographic or other reproduction
of a financing statement or this Security Agreement (which shall be sufficient as a financing statement hereunder), any specific assignments
or other paper that may be necessary or desirable, or that the Secured Party may request, in order to create, preserve, perfect or validate
any Security Interest or to enable the Secured Party to exercise and enforce its rights hereunder with respect to any of the Collateral,
including, without limitation, any filing which further describes for identification any commercial tort claim which may come into existence
in the future. The Debtors hereby appoint the Secured Party as the Debtors’ attorney-in-fact to execute, if necessary, and to file
in the name and behalf of the Debtors such financing statements, continuation statement or amendments as such Secured Party may request.

 

6.            
Representations and Warranties of the Debtors. The Debtors hereby represent and warrant to the Secured Party (a) that except
as permitted under the Consignment Agreement, the Debtors are, or to the extent that certain of the Collateral is to be acquired after
the date hereof, will be, the owner of the Collateral free from any adverse lien, security interest or encumbrance; (b) that except for
such financing statements as may be described on Exhibit A attached hereto and made a part hereof, no financing statement covering the
Collateral is on file in any public office, other than the financing statements filed pursuant to this Security Agreement; and (c) that
all additional information, representations and warranties contained in Exhibit B-1, B-2, B-3, B-4, B¬5, B-6 and B-7 attached hereto
and made a part hereof are true, accurate and complete on the date hereof.

 

7.            
Covenants of the Debtors. The Debtors hereby covenant and agree with the Secured Party that the Debtors (a) except for Permitted
Liens (as defined below), will defend the Collateral against all claims and demands of all persons at any time claiming any interest therein;
(b) will not change their respective jurisdiction of organization without the prior written consent of the Secured Party; (c) will provide
the Secured Party with twenty (20) days prior written notice of (i) any change in the principal office of the Debtors or the office where
the Debtors maintain their books and records pertaining to the Customer Receivables, or (ii) the movement or location of Collateral to
or at any address other than as set forth in said Exhibit B-1, B-2, B-3, B-4, B-5, B-6 and B-7; (d) will promptly pay any and all taxes,
assessments and governmental charges upon the Collateral prior to the date penalties are attached thereto, except to the extent that such
taxes, assessments and charges shall be contested in good faith by the Debtors; (e) will immediately notify the Secured Party of any event
causing a substantial loss or diminution in the value of all or any material part of the Collateral and the amount or an estimate of the
amount of such loss or diminution; (f) will have and maintain insurance at all times with respect to the Tangible Collateral against risks
of fire (including so-called extended coverage) and theft, and such other risks as the Secured Party may reasonably require in writing,
containing such terms, in such form, for such periods and written by such companies as may be reasonably satisfactory to the Secured Party,
such insurance to be payable to the Secured Party and the Debtors as its interests may appear, and shall provide for thirty (30) days’
prior written minimum cancellation notice to the Secured Party, and the Debtors shall furnish the Secured Party with certificates or other
evidence satisfactory to the Secured Party of compliance with the foregoing insurance provisions; (g) except as permitted by the Consignment
Agreement or in the ordinary course of business, will not sell or offer to sell or otherwise assign, transfer or dispose of the Collateral
or any interest therein, without the prior written consent of the Secured Party; (h) except for Permitted Liens, will keep the Collateral
free from any adverse lien, security interest or encumbrance and in good order and repair, reasonable wear and tear excepted, and will
not waste or destroy the Collateral or any part thereof; (i) will use the Collateral for business purposes and not in violation of any
statute or ordinance; (j) will keep the Collateral in good repair, working order and condition, and from time to time will make to such
Collateral all needful and proper repairs, renewals, replacements, extensions, additions, betterments and improvements thereto, to the
extent and in the manner customary for companies in similar lines of business under similar circumstance; and (k) upon the occurrence
of an Event of Default, will stamp all books and records pertaining to accounts, instruments and general intangibles to evidence the Secured
Party’s security interest therein in form satisfactory to the Secured Party immediately upon the Secured Party’s written demand.

 

    - 3 -

     

    

 

For purposes hereof, the term “Permitted
Liens” means, so long as execution thereon has been stayed, (i) liens in favor of the Secured Party, (ii) liens consented to by
the Secured Party in writing, (iii) existing liens set forth on Exhibit A hereof, and (iv) carriers’, warehousemens’, mechanics’,
materialmen’s, repairmens’, bailees’ or other like liens arising in the ordinary course of business or the operation
of law.

 

8.            
Records Relating to Collateral. The Debtors will keep their records concerning the Collateral, including the Customer Receivables
and all chattel paper included in the Customer Receivables, at their office at 500 Quality Boulevard, Fairfield, Ohio 45014 or at such
other place or places of business as the Secured Party may approve in writing. The Debtors will hold and preserve such records and chattel
paper and, will permit representatives of the Secured Party at any time during normal business hours to examine and inspect the Collateral
and to make abstracts from such records and chattel paper, and will furnish to the Secured Party such information and reports regarding
the Collateral as the Secured Party may from time to time reasonably request.

 

9.            
Collections with Respect to Customer Receivables.

 

The Debtors will, at their
expense, and subject at all times to the Secured Party’s right upon the occurrence, and during the continuance, of an Event of Default
to give reasonable directions and instructions:

 

(i)              
endeavor to collect or cause to be collected from customers indebted on Customer Receivables, as and when due, any and all amounts,
including interest, owing under or on account of each Customer Receivable; and

 

    - 4 -

     

    

 

(ii)             
take or cause to be taken such appropriate action to repossess goods, the sale or rental of which gave rise to any Customer Receivable,
or to enforce any rights or liens under Customer Receivables, as the Debtors or the Secured Party may deem proper, and in the name of
the Debtors or the Secured Party, as the Secured Party may deem proper;

 

provided that (x) the Debtors will use their best
judgment to protect the interests of the Secured Party and (y) the Debtors shall not be required under this Section 9 to take any action
which would be contrary to any applicable law or court order. The Debtors shall, at the request of the Secured Party upon the occurrence
of an Event of Default, notify the account s of the Security Interests of the Secured Party in any of the Customer Receivables and the
Secured Party may itself at any such time so notify account debtors. The Secured Party shall have full power at any time after such notice
to collect, compromise, endorse, sell or otherwise deal with any or all outstanding Customer Receivables or the proceeds thereof in the
name of the Secured Party or the Debtors. In the event that, after notice to any account debtors to pay the Secured Party, the Debtors
receive any payment on a Customer Receivable, any such payments shall be held by the Debtors in trust for the Secured Party and immediately
turned over to the Secured Party, as aforesaid.

 

10.          
General Authority. Each of The Debtors hereby appoints the Secured Party such Debtor’s lawful attorney, with full
power of substitution, in the name of such Debtor, for the sole use and benefit of the Secured Party, but at the Debtors’ expense,
to exercise all or any of the following powers with respect to all or any of the Collateral:

 

(a)          
to demand, sue for, collect, receive and give acquittance for any and all monies due or to become due,

 

(b)          
to receive, take, endorse, assign and deliver all checks, notes, drafts, documents and other negotiable and non-negotiable instruments
and chattel paper taken or received by the Secured Party,

 

(c)           
to settle, compromise, compound, prosecute or defend any action or proceeding with respect thereto,

 

(d)              
to sell, transfer, assign or otherwise deal in or with the same or the proceeds or avails thereof or the related goods securing
the Customer Receivables, as fully and effectually as if the Secured Party was the absolute owner thereof,

 

(e)           
to extend the time of payment of any or all thereof and to make any allowance and other adjustments with reference thereto, and

 

(f)           
to discharge any taxes, liens, security interests or other encumbrances at any time placed thereon;

 

provided that the Secured Party shall give the
Debtors not less than ten (10) days’ prior written notice of the time and place of any sale or other intended disposition of any
of the Collateral, except any Collateral which is of a type customarily sold on a recognized market or which is perishable or threatens
to decline speedily in value.

 

    - 5 -

     

    

 

11.          
Events of Default. The Debtors shall be in default under this Security Agreement upon the occurrence of any of the following
events (herein referred to as an “Event of Default”):

 

(a)          
default by the Debtors in the due observance or performance of any covenant or agreement contained herein or breach by the Debtors
of any representation or warranty herein contained;

 

(b)          
any default in the payment of the principal of, or any interest on, or any sum in respect of, any indebtedness of the Debtors or
the Borrowers to the Secured Party, including, without limitation, indebtedness evidenced by or incurred pursuant to the Consignment Agreement
or the Guaranty Agreement; or

 

(c)          
the occurrence of any event of default under the provisions of the Consignment Agreement or the Guaranty Agreement or any agreement
now or hereafter evidencing or securing any of the Secured Obligations.

 

12.           
Remedies Upon Event of Default.

 

(a)          
If any Event of Default shall have occurred and be continuing, the Secured Party may exercise all the rights and remedies of a
secured party under the Uniform Commercial Code (whether or not the Uniform Commercial Code is in effect in the jurisdiction where such
rights and remedies are exercised) and, in addition, the Secured Party may, without being required to give any notice, except as herein
provided or as may be required by mandatory provisions of law, (i) apply the cash, if any, then held by it as Collateral, and (ii) if
there shall be no such cash or if such cash shall be insufficient to pay all the Secured Obligations in full then, after ten (10) days
written notice by the Secured Party to the Debtors of acceleration of the Secured Obligations, sell the Collateral, or any part thereof,
at public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery,
at such price or prices as the Secured Party shall deem satisfactory. The Secured Party may require the Debtors to assemble all or any
part of the Collateral and make it available to the Secured Party at a place to be designated by the Secured Party which is reasonably
convenient. Any holder of an Obligation may be the purchaser of any or all of the Collateral so sold at any public sale (or, if the Collateral
is of a type customarily sold in a recognized market or is of a type which is the subject of widely distributed standard price quotations,
at any private sale) and thereafter hold the same, absolutely, free from any right or claim of whatsoever kind. Upon any such sale the
Secured Party shall have the right to deliver, assign and transfer to the purchaser thereof the Collateral so sold. Each purchaser at
any such sale shall hold the Collateral so sold absolutely, free from any claim or right of whatsoever kind, including any equity or right
of redemption of the Debtors. The Secured Party shall give the Debtors ten (10) days’ prior written notice of its intention to make
any such public or private sale or sale at a broker’s board or on a securities exchange. Such notice, in case of a public sale,
shall state the time and place fixed for such sale, and in case of sale at a broker’s board or on a securities exchange, shall state
the board or exchange at which such sale is to be made and the day on which the Collateral, or the portion thereof so being sold, will
first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business
hours and at such place or places as the Secured Party may fix in the notice of such sale. At any such sale the Collateral may be sold
in one lot as an entirety or in separate parcels, as the Secured Party may determine. The Secured Party shall not be obligated to make
such sale pursuant to any such notice. The Secured Party may, without notice or publication, adjourn any public or private sale or cause
the same to be adjourned from time to time by announcement at the time and place fixed for the sale, and such sale may be made at any
time or place to which the same may be adjourned. In case of any sale of all or any part of the Collateral on credit or for future delivery,
the Collateral so sold may be retained by the Secured Party until the selling price is paid by the purchaser thereof, but the Secured
Party shall not incur any liability in case of the failure of such purchaser to take up and pay for the Collateral so sold and, in case
of any such failure, such Collateral may again be sold upon like notice.

 

    - 6 -

     

    

 

(b)          
The Secured Party, instead of exercising the power of sale herein conferred upon it, may proceed by a suit or suits at law or in
equity to foreclose the Security Interests and sell the Collateral, or any portion thereof, under a judgment or decree of a court or courts
of competent jurisdiction.

 

13.          
Application of Collateral and Proceeds. Subject to the Metals Intercreditor and the Metals/Dollar Intercreditor (as such
terms are defined in the Consignment Agreement), the proceeds of any sale of, or other realization upon, all or any part of the Collateral
shall be applied in the following order of priorities: (a) first, to pay the expenses of such sale or other realization, including reasonable
commission to Secured Party and its agents and counsel, and all expenses, liabilities and all advances incurred or made by the Secured
Party in connection therewith, and any other unreimbursed expenses for which the Secured Party is to be reimbursed pursuant to Section
14; (b) second, to pay the Secured Obligations in such manner as the Secured Party, in its sole reasonable discretion, shall determine;
and (c) finally, to pay to the Debtors, or its successors or assigns, or as a court of competent jurisdiction may direct, any surplus
then remaining from such proceeds.

 

14.          
Expenses: Secured Party’s Lien. The Debtors will forthwith upon request pay to the Secured Party: (a) the amount of
any taxes which the Secured Party may have been required to pay by reason of the Security Interests (including any applicable transfer
taxes) or to free any of the Collateral from any lien thereon, and (b) the amount of any and all reasonable out-of-pocket expenses, including
the reasonable fees and disbursements of its counsel and of any agents not regularly in its employ, which the Secured Party may incur
in connection with (w) the preparation and administration of this Security Agreement, (x) the collection, sale or other disposition of
any of the Collateral, (y) the exercise by the Secured Party of any of the powers conferred upon it hereunder or (z) any default on the
Debtors’ part hereunder.

 

15.          
Termination of Security Interests, Release of Collateral. Upon the repayment and performance in full of all the Secured
Obligations, and termination of the Secured Party’s obligation, if any, to extend further credit facilities to the Debtors, the
Security Interests shall terminate and all rights to the Collateral shall revert to the Debtors. Upon any such termination of the Security
Interests or release of Collateral, the Secured Party will, at the Debtors’ expense to the extent permitted by law, promptly execute
and deliver to the Debtors such documents as the Debtors shall reasonably request to evidence the termination of the Security Interests
or the release of such Collateral, as the case may be.

 

16.          
Notices. All notices, communications and distributions hereunder shall be given or made to the parties at their respective
addresses set forth herein, or at such other address as the addressee may hereafter specify for the purpose by written notice to the other
party hereto.

 

17.          
Right of Set-Off. The Debtors hereby grant to the Secured Party, a lien, security interest and right of set off as security
for all liabilities and obligations to the Secured Party, whether now existing or hereafter arising, upon and against all deposits, credits,
collateral and property, now or hereafter in the possession, custody, safekeeping or control of the Secured Party, its successors or assigns,
or in transit to any of them. At any time and from time to time, the Secured Party may set off the same or any part thereof and apply
the same to any liability or obligation of the Debtors even though unmatured and regardless of the adequacy of any other collateral securing
the Secured Obligations. ANY AND ALL RIGHTS TO REQUIRE THE SECURED PARTY TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER
COLLATERAL WHICH SECURES THE SECURED OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SET OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER
PROPERTY OF THE DEBTORS, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

 

    - 7 -

     

    

 

18.          
Miscellaneous.

 

(a)           
No failure on the part of the Secured Party to exercise, and no delay in exercising, and no course of dealing with respect to,
any right, power or remedy under this Security Agreement shall operate as a waiver thereof; nor shall any single or partial exercise by
the Secured Party of any right, power or remedy under this Security Agreement preclude any other right, power or remedy. The remedies
in this Security Agreement are cumulative and are not exclusive of any other remedies provided by law. This Security Agreement is in addition
to and without limitation of any right of the Secured Party under the Consignment Agreement and any other ancillary document executed
in connection therewith or any other security agreement, mortgage or guaranty granted by the Debtors or any other person to the Secured
Party.

 

(b)          
THE DEBTORS AGREE THAT ANY ACTION, DISPUTE, PROCEEDING, CLAIM OR CONTROVERSY BETWEEN THE DEBTORS AND THE SECURED PARTY WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE (“DISPUTE” OR “DISPUTES”) SHALL, AT THE SECURED PARTY’S ELECTION,
WHICH ELECTION MAY BE MADE AT ANY TIME PRIOR TO THE COMMENCEMENT OF A JUDICIAL PROCEEDING BY THE SECURED PARTY, OR IN THE EVENT OF A JUDICIAL
PROCEEDING INSTITUTED BY THE DEBTORS AT ANY TIME PRIOR TO THE LAST DAY TO ANSWER AND/OR RESPOND TO A SUMMONS AND/OR COMPLAINT MADE BY
THE DEBTORS, BE RESOLVED BY ARBITRATION IN ACCORDANCE WITH THE PROVISIONS OF THIS PARAGRAPH AND SHALL, AT THE ELECTION OF THE SECURED
PARTY, INCLUDE ALL DISPUTES ARISING OUT OF OR IN CONNECTION WITH (A) THIS AGREEMENT OR ANY RELATED AGREEMENTS, NOTES OR INSTRUMENTS, (B)
ALL PAST, PRESENT AND FUTURE AGREEMENTS INVOLVING THE DEBTORS AND THE SECURED PARTY, (C) ANY TRANSACTION RELATED TO THIS AGREEMENT AND
ALL PAST, PRESENT AND FUTURE TRANSACTIONS INVOLVING THE DEBTORS AND THE SECURED PARTY, AND (D) ANY ASPECT OF THE PAST, PRESENT OR FUTURE
RELATIONSHIP OF THE DEBTORS AND THE SECURED PARTY. The Secured Party may elect to require arbitration of any Dispute with the Debtors
without thereby being required to arbitrate all Disputes between the Secured Party and the Debtors. Any such Dispute shall be resolved
by binding arbitration in accordance with Article 75 of the New York Civil Practice Law and Rules and the Commercial Arbitration Rules
of the American Arbitration Association (“AAA”). In the event of any inconsistency between such Rules and these arbitration
provisions, these provisions shall supersede such Rules. All statutes of limitations which would otherwise be applicable shall apply to
any arbitration proceeding under this Paragraph. In any arbitration proceeding subject to this Paragraph, the arbitration panel (the “arbitrator”)
is specifically empowered to decide (by documents only, or with a hearing, at the arbitrator’s sole discretion) pre-hearing motions
which are substantially similar to pre-hearing motions to dismiss and motions for summary adjudication. In any such arbitration proceeding,
the arbitrator shall not have the power or authority to award punitive damages to any party. Judgment upon the award rendered may be entered
in any court having jurisdiction. Whenever an arbitration is required, the parties shall select an arbitrator in the manner provided in
this Paragraph. No provision of, nor the exercise of any rights under, this Paragraph shall limit the right of the Secured Party (a) to
foreclose against any real or personal property collateral through judicial foreclosure, by the exercise of the power of sale under a
deed of trust, mortgage or other security agreement or instrument, pursuant to applicable provisions of the Uniform Commercial Code, or
otherwise herein pursuant to applicable law, (b) to exercise self-help remedies including but not limited to setoff and repossession,
or (c) to request and obtain from a court having jurisdiction before, during or after the pendency of any arbitration, provisional or
ancillary remedies and relief including but not limited to injunctive or mandatory relief or the appointment of a receiver. The institution
and maintenance of an action or judicial proceeding for, or pursuit of, provisional or ancillary remedies or exercise of self-help remedies
shall not constitute a waiver of the right of the Secured Party and, even if the Secured Party is the plaintiff, to submit the Dispute
to arbitration if the Secured Party would otherwise have such right. Whenever an arbitration is required under this Paragraph, the arbitrator
shall be selected, except as otherwise herein provided, in accordance with the Commercial Arbitration Rules of the AAA. A single arbitrator
shall decide any claim of $100,000 or less and he or she shall be an attorney with at least five years’ experience. Where the claim
of any party exceeds $100,000, the Dispute shall be decided by a majority of three arbitrators, at least two of whom shall be attorneys
(at least one of whom shall have not less than five years’ experience representing commercial banks). The arbitrator shall have
the power to award recovery of all costs and fees (including attorneys’ fees, administrative fees, arbitrator’s fees, and
court costs) to the prevailing party. In the event of any Dispute governed by this Paragraph, each of the parties shall, subject to the
award of the arbitrator, pay an equal share of the arbitrator’s fees.

 

    - 8 -

     

    

 

(c)          
THE DEBTORS AND SECURED PARTY MUTUALLY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN RESPECT
OF ANY CLAIM BASED HEREON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS SECURITY AGREEMENT OR ANY OTHER CONSIGNMENT DOCUMENTS CONTEMPLATED
TO BE EXECUTED IN CONNECTION HEREWITH OR ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS
OF ANY PARTY, INCLUDING, WITHOUT LIMITATION, ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS OR ACTIONS OF THE SECURED PARTY RELATING
TO THE ENFORCEMENT OF THIS SECURITY AGREEMENT OR THE CONSIGNMENT DOCUMENTS, AND AGREE THAT NEITHER THE DEBTORS NOR THE SECURED PARTY WILL
SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. EXCEPT AS PROHIBITED
BY LAW, THE DEBTORS HEREBY WAIVE ANY RIGHT THEY MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL
DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. THE DEBTORS CERTIFY THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
THE SECURED PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE SECURED PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE
THE FOREGOING WAIVER. THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR SECURED PARTY TO ACCEPT THIS SECURITY AGREEMENT AND TO EXTEND
THE CONSIGNMENT FACILITY.

 

(d)          
Neither this Security Agreement nor any provision hereof may be changed, waived, discharged or terminated orally but only by a
statement in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought.

 

(e)          
This Security Agreement shall be construed in accordance with and governed by the laws of the State of New York (excluding the
laws applicable to conflicts or choice of law). THE DEBTORS AGREE THAT ANY SUIT FOR THE ENFORCEMENT OF THIS SECURITY AGREEMENT MAY BE
BROUGHT IN THE COURTS OF THE STATE OF NEW YORK, AS WELL AS ALL COURTS FROM WHICH AN APPEAL MAY BE TAKEN FROM THE AFORESAID COURTS, AND
CONSENT TO THE NONEXCLUSIVE JURISDICTION OF SUCH COURTS AND SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON DEBTORS BY MAIL AT THE
ADDRESS SET FORTH IN THIS SECURITY AGREEMENT. THE DEBTORS HEREBY WAIVE ANY OBJECTION THAT THEY MAY NOW OR HEREAFTER HAVE TO THE VENUE
OF ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH SUIT IS BROUGHT IN AN INCONVENIENT FORUM. Unless otherwise defined herein, or unless the
context otherwise requires, all terms used herein which are defined in the New York Uniform Commercial Code have the meanings therein
stated.

 

(f)           
This Security Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their successors and assigns;
provided, that the Debtors cannot assign their obligations or interest herein without the prior written consent of the Secured Party.

 

(g)          
If any provision hereof is invalid or unenforceable in any jurisdiction, the other provisions hereof shall remain in full force
and effect in such jurisdiction.

 

[The next page is a signature page]

 

    - 9 -

     

    

 

IN WITNESS WHEREOF, this Security
Agreement has been executed by the parties hereto all as of the day and year first above written.

 

	WITNESS	 	GOLD LIMITED LIABILITY COMPANY
	 	 	 
	/s/ Dennis Horn	 	By: 	/s/ Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: Chief Financial Officer
	 	 	 
	 	 	Address for notices:
	 	 	 
	 	 	500 Quality Blvd.
	 	 	Fairfield OH 45014
	 	 	 

	 	Facsimile:	513-642-2452

 

[Signature Page to Security Agreement]

 

     

     

    

 

	 	 	GOLD/GOLD/GOLD, INC.
	 	 	 
	/s/ Dennis Horn 	 	By:	/s/ Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: Chief Financial Officer
	 	 	 
	 	 	Address for notices:
	 	 	 
	 	 	500
    Quality Blvd.
	 	 	Fairfield
    OH 45014
	 	 	 

	 	Facsimile:	513-642-2452

 

[Signature Page to Security Agreement]

 

     

     

    

 

	 	 	LOGOART LLC
	 	 	 
	/s/ Dennis Horn	 	By:	/s/ Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: Manager

	 	 
	 	Address for notices:
	 	 
	 	500 Quality Blvd.
	 	Fairfield OH 45014
	 	 
	 	Facsimile: 	513-642-2452

 

[Signature Page to Security Agreement]

 

     

     

    

 

	 	 	QGM, LLC
	 	 	 
	/s/ Dennis Horn	 	By:	/s/ Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: Manager

	 	 	 
	 	 	Address for notices:
	 	 	 
	 	 	500 Quality Blvd.
	 	 	Fairfield OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Security Agreement]

 

     

     

    

 

	 	 	QG REFINING, LLC
	 	 	 
	/s/ Dennis Horn	 	By:	 /s/ Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: President / Treasurer

	 	 	 
	 	 	Address for notices:
	 	 	 
	 	 	500 Quality Blvd.
	 	 	Fairfield OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Security Agreement]

 

     

     

    

 

	 	 	J&M GROUP HOLDINGS, INC.
	 	 	 
	/s/ Dennis Horn	 	By:	/s/ Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: President / Secretary

	 	 	 
	 	 	Address for notices:
	 	 	 
	 	 	500 Quality Blvd.
	 	 	Fairfield OH 45014
	 	 	 
	 	 	Facsimile: 	513-642-2452

 

[Signature Page to Security Agreement]

 

     

     

    

 

	 	 	J&M GROUP HOLDINGS ITALY, LLC
	 	 	 
	/s/ Dennis Horn	 	By:	/s/ Michael Langhammer
	 	 	 	Name: Michael Langhammer
	 	 	 	Title: President / Treasurer

	 	 	 
	 	 	Address for notices:
	 	 	 
	 	 	500 Quality Blvd.
	 	 	Fairfield OH 45014
	 	 	 
	 	 	Facsimile:	513-642-2452

 

[Signature Page to Security Agreement]

 

     

     

    

 

	 	BANK OF MONTREAL
	 	 
	 	By: 	/s/ Paul Rosica
	 	 	Name: Paul Rosica
	 	 	Title: Managing Director

 

[Signature Page to Security Agreement]

 

     

     

    

 

EXHIBIT A

 

FINANCING STATEMENTS ON FILE ON DATE HEREOF

 

UCC financing statements in favor of HSBC Bank
USA, National Association

 

UCC financing statements in favor of PNC Bank,
National Association

 

     

     

    

 

EXHIBIT B-1

 

ADDITIONAL REPRESENTATIONS AND WARRANTIES

 

OF

 

GOLD LIMITED LIABILITY COMPANY

 

	1.	The exact title of the Debtor is Gold Limited Liability Company. The Debtor has not conducted business
under any other name during the preceding ten (10) years except: None.

 

	2.	The Debtor uses in its business and owns the following trade names: Gold, LLC.

 

	3.	The Debtor was organized on September 18, 2002, under the laws of the State of California and is in good
standing under those laws.

 

	4.	The chief executive officer of the Debtor is: Boris Bystritsky, Managing Member.

 

	5.	The Debtor is qualified to transact business in the following states: California.

 

	6.	The Debtor has places of business at: 3575 W. Cahuenga Boulevard, Suite 680, Los Angeles, CA 90068.

 

	7.	The Debtor owns or has an interest in personal property located elsewhere at: No other locations.

 

     

     

    

 

EXHIBIT B-2

 

ADDITIONAL REPRESENTATIONS AND WARRANTIES

 

OF

 

GOLD/GOLD/GOLD, INC.

 

	1.	The exact title of the Debtor is Gold/Gold/Gold, Inc. The Debtor has not conducted business under any
other name during the preceding ten (10) years except: None.

 

	2.	The Debtor uses in its business and owns the following trade names: Gold/Gold/Gold, Inc.

 

	3.	The Debtor was organized on March 2, 2004, under the laws of the State of California and is in good standing
under those laws.

 

	4.	The chief executive officer of the Debtor is: Boris Bystritsky, President.

 

	5.	The Debtor is qualified to transact business in the following states: California.

 

	6.	The Debtor has places of business at: 3575 W. Cahuenga Boulevard, Suite 680, Los Angeles, CA 90068.

 

	7.	The Debtor owns or has an interest in personal property located elsewhere at: 500 Quality Boulevard, Fairfield,
Ohio 45014.

 

     

     

    

  

EXHIBIT B-3

 

ADDITIONAL REPRESENTATIONS AND WARRANTIES

 

OF

 

LOGOART LLC

 

	1.	The exact title of the Debtor is LogoArt LLC. The Debtor has not conducted business under any other name
during the preceding ten (10) years except: None.

 

	2.	The Debtor uses in its business and owns the following trade names: LogoArt LLC.

 

	3.	The Debtor was organized on May 7, 2015, under the laws of the State of Kentucky and is in good standing
under those laws.

 

	4.	The president of the Debtor is: Michael Langhammer.

 

	5.	The Debtor is qualified to transact business in the following states: Kentucky and Ohio.

 

	6.	The Debtor has places of business at: 500 Quality Boulevard, Fairfield, OH 45014.

 

	7.	The Debtor owns or has an interest in personal property located elsewhere at: No other locations.

 

     

     

    

 

EXHIBIT B-4

 

ADDITIONAL REPRESENTATIONS AND WARRANTIES

 

OF

 

QGM, LLC

 

	1.	The exact title of the Debtor is QGM, LLC. The Debtor has not conducted business under any other name
during the preceding ten (10) years except: None.

 

	2.	The Debtor uses in its business and owns the following trade names: QGM, LLC.

 

	3.	The Debtor was organized on March 23, 2001, under the laws of the State of Ohio and is in good standing
under those laws.

 

	4.	The manager of the Debtor is: Michael Langhammer.

 

	5.	The Debtor is qualified to transact business in the following states: Ohio.

 

	6.	The Debtor has places of business at: 500 Quality Boulevard, Fairfield, OH 45014.

 

	7.	The Debtor owns or has an interest in personal property located elsewhere at: No other locations.

 

     

     

    

 

EXHIBIT B-5

 

ADDITIONAL REPRESENTATIONS AND WARRANTIES

 

OF

 

QG REFINING, LLC

 

	1.	The exact title of the Debtor is QG Refining, LLC. The Debtor has not conducted business under any other
name during the preceding ten (10) years except: None.

 

	2.	The Debtor uses in its business and owns the following trade names: QG Refining, LLC.

 

	3.	The Debtor was organized on September 1, 2011, under the laws of the State of Ohio and is in good standing
under those laws.

 

	4.	The president of the Debtor is: Michael Langhammer.

 

	5.	The Debtor is qualified to transact business in the following states: Ohio.

 

	6.	The Debtor has places of business at: 500 Quality Boulevard, Fairfield, OH 45014.

 

	7.	The Debtor owns or has an interest in personal property located elsewhere at: No other locations.

 

     

     

    

 

EXHIBIT B-6

 

ADDITIONAL REPRESENTATIONS AND WARRANTIES

 

OF

 

J & M GROUP HOLDINGS INC.

 

	1.	The exact title of the Debtor is J & M Group Holdings Inc. The Debtor has not conducted business under
any other name during the preceding ten (10) years except: None.

 

	2.	The Debtor uses in its business and owns the following trade names: J & M Group Holdings Inc.

 

	3.	The Debtor was organized on November 5, 2015, under the laws of the State of Delaware and is in good standing
under those laws.

 

	2.	The president of the Debtor is: Michael Langhammer.

 

	3.	The Debtor is qualified to transact business in the following states: Delaware.

 

	4.	The Debtor has places of business at: 500 Quality Boulevard, Fairfield, OH 45014.

 

	5.	The Debtor owns or has an interest in personal property located elsewhere at: No other locations.

 

     

     

    

 

EXHIBIT B-7

 

ADDITIONAL REPRESENTATIONS AND WARRANTIES

 

OF

 

J & M GROUP HOLDINGS ITALY, LLC

 

	1.	The exact title of the Debtor is J & M Group Holdings Italy, LLC. The Debtor has not conducted business
under any other name during the preceding ten (10) years except: None.

 

	2.	The Debtor uses in its business and owns the following trade names: J & M Group Holdings Italy, LLC.

 

	3.	The Debtor was organized on May 23, 2017, under the laws of the State of Ohio and is in good standing
under those laws.

 

	2.	The president of the Debtor is: Michael Langhammer.

 

	3.	The Debtor is qualified to transact business in the following states: Ohio.

 

	4.	The Debtor has places of business at: 500 Quality Boulevard, Fairfield, OH 45014.

 

	5.	The Debtor owns or has an interest in personal property located elsewhere at: No other locations.

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