Document:

EX-10.1

 Exhibit 10.1 

SEPARATION AND GENERAL RELEASE AGREEMENT 

This Separation and General Release Agreement (“Agreement”) is made as of the 5th day of December 2017, (the “Signature
Date”) between comScore, Inc. (“Company”), a Delaware corporation, and Cameron Meierhoefer (“Executive”). 

WHEREAS, Company employed Executive as Executive Vice President, Chief Operating Officer. 

WHEREAS, the Company has undergone an involuntary reduction in force in December 2017 during which the Company determined that
Executive’s employment as Executive Vice President, Chief Operating Officer would be terminated. 
 WHEREAS, Executive and Company
desire to set forth the terms of Executive’s separation from the Company. 
 THEREFORE, in consideration of the mutual promises
contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned, intending to be legally bound, state and agree as provided below. 

1.    Separation. Executive and Company mutually agree that Executive’s role as Executive Vice
President, Chief Operating Officer will cease as of December 6, 2017; however, he will thereafter continue to be a Company employee and will serve in the role of Special Advisor at his current base salary, as set forth under Paragraph 2(c)
below, until March 30, 2018 (the “Separation Date”) at which time his employment with the Company will terminate. Executive acknowledges that he will cease to be an employee of the Company, in any capacity, as of the Separation Date.
As of December 6, 2017, and to the extent consistent with applicable practices and procedures, Executive is also deemed to have resigned from all other elected, appointed or otherwise held positions within the Company or from any organization
in which he represents the Company. Executive further agrees to execute promptly upon reasonable request by the Company any additional documents to effect the provisions of this Section 1. 

2.    Payments, Benefits and Perquisites. Provided that Executive does not revoke and complies in all
material respects with (and continues to comply with) all terms of this Agreement, including but not limited to his obligations under Paragraphs 6, 7 and 17 of this Agreement, and fulfills all obligations thereunder, Executive will be entitled to
the following severance benefits: 
  

	 	a.	The Company will continue to pay Executive his annual base salary of $383,640.00, less applicable taxes and withholdings as required by law (“Severance Payments”), in accordance with the Company’s
current normal payroll cycle, beginning on the first pay period after the Separation Date and continuing for a period of 12 months following the Separation Date (the “Severance Period”), unless Executive has breached any provision of this
Agreement. 

  
 Page 1 of 9 

	 	b.	The Company will pay Executive $759,683, less applicable taxes and withholdings as required by law, in a lump-sum cash payment on June 30, 2018, unless Executive has
breached any provision of this Agreement. 

  

	 	c.	The Company and Executive agree that notwithstanding any provisions of this Agreement to the contrary, Executive will receive continued payment of Executive’s current base salary through the Separation Date,
less appropriate federal and state withholdings, in accordance with the Company’s current normal payroll practices, which amount shall not be subject to adjustment. 

 

	 	d.	Executive’s health insurance will terminate on the last day of the month in which the Separation Date occurs. If eligible, and notwithstanding any provisions of this Agreement, Executive may thereafter elect
to continue Executive’s health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) or state insurance laws, if applicable, at Executive’s own expense (or, if Executive enters into this
Agreement, at the Company’s expense as provided in paragraph 2(f) below). Notice of Executive’s COBRA rights will be sent to Executive under separate cover. Executive’s rights to elect such coverage are not contingent upon his
entering into this Agreement. 

  

	 	e.	Executive agrees that, within 10 days following the Separation Date, Executive will submit Executive’s final documented expense reimbursement statement reflecting all business expenses he incurred through
the Separation Date, if any, for which Executive seeks reimbursement. The Company will reimburse Executive for these expenses and for all reasonable expenses incurred by Executive on behalf of the Company prior to the Separation Date and pre-approved by the Company pursuant to its regular business practice. 

  

	 	f.	If Executive elects continuation coverage pursuant to COBRA within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, and for so long as Executive has not yet
elected replacement coverage, then the Company will pay the COBRA premiums for such coverage for Executive and Executive’s eligible dependents (at the coverage levels in effect immediately prior to Executive’s termination) during the
Severance Period. 

  

	 	g.	 Executive expressly understands and acknowledges that the Company agrees to provide the above-stated
payments and benefits in exchange for Executive’s compliance with the terms set out in this Agreement. Executive further acknowledges and agrees that he is not entitled to receive payment of any of the benefits set forth in Paragraph 2, except
for awards under the Company’s 2007 Equity Incentive Plan (the “Equity Plan”) vested as of the Signature Date, and the benefits described in Paragraphs 2(c) and 2(e), absent execution of this Agreement and the Reaffirmation. With the
exception of the benefits described in 

  
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Paragraphs 2(c) and 2(e), Executive understands and agrees that the Company shall not provide any of the consideration set forth in this Agreement (including without limitation the payments or
additional benefits listed in this Paragraph 2) until after the Separation Date and only after Executive’s execution of an additional release covering the period from the Signature Date through the Separation Date (which Reaffirmation of
Release of All Claims is attached hereto as Exhibit C). If Executive fails to comply with any of his obligations under this Agreement during the term for payment described above, Executive understands and acknowledges that the Company may
cease making any of the above-described payments and benefits. Executive also acknowledges that if any payments are made to him under the terms of this Agreement, but are suspended as a result of a breach by Executive of any provision of this
Agreement, including but not limited to his continuing obligations under Paragraphs 6, 7 and 17, then the payments made to Executive are satisfactory and adequate consideration for the covenants and releases made by Executive herein.

 3.    Other Compensation or Benefits. Executive acknowledges that he is not entitled to and will
not receive any additional compensation, severance, or benefits from the Company after the Separation Date other than vested compensation or benefits under the Company’s employee benefit plans in accordance with the respective terms thereof or
as otherwise may be required under applicable law (including but not limited to accrued vacation). Executive further understands and agrees that any options, restricted stock, and restricted stock units and other equity awards that are not vested on
or before the Separation Date shall be forfeited, except for awards under the Equity Plan in which Executive is vested but have not been delivered to Executive as of the Signature Date. Awards under the Equity Plan that have vested on or before the
Signature Date shall be distributed to Executive on or before March 15, 2018, and all other Awards under the Equity Plan that vest on or before the Separation Date shall be distributed to Executive as soon as practicable after the Separation
Date but not later than May 30, 2018. The Company acknowledges that there are no trading restrictions that will be imposed on Executive with respect to the shares of the Company’s common stock that Executive receives upon the distribution
to him of the awards under the Equity Plan. If Employee elects to exercise Employee’s vested stock options, if any, Employee must exercise such vested stock options within the specified terms and conditions as indicated under the
comScore, Inc. 2007 Equity Incentive Plan, 1999 Stock Plan agreements, or Rentrak Equity Incentive Plan under which the options were granted. Pursuant to these plans, and as per a vote by the Board of Directors on April 26, 2016, the
expiration date of these exercisable options has been extended to 180 days following comScore’s compliance with SEC filings. 

4.    Compensation Clawback. Executive acknowledges and agrees that, in addition to any other rights the
Company may have, if the Company is required to claw back any incentive or other compensation pursuant to the Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, any regulations promulgated thereunder, or any other
laws or regulations that may apply to Executive whether in effect now or in the future, the Company shall be entitled to cease any Severance Payments, and apply those Severance Payment amounts toward any such claw back. Nothing in this Agreement
shall prevent Executive from commencing an action to challenge a termination of his Severance Payments if he believes (i) the Company was not required to claw back his Severance Payments or (ii) the Company terminated

  
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the Severance Payments in breach of this Agreement. In addition, nothing in this Agreement shall prevent or waive Executive’s ability or right to contest or defend against any claim made
against him for disgorgement, penalties, fines, forfeiture, or the return of any compensation or benefits of any kind in any government inquiry or proceeding or in any litigation brought against the Company or the Executive. 

5.    Return of Company Property. Executive agrees to return all Company Property that Executive has in his
possession to the Company no later than the Separation Date. Executive further agrees not to retain any Company documents or any copies thereof except as provided below. “Company Property” shall include, but not be limited to: Company
files; manuals; notes; drawings; records; business plans and forecasts; financial information; specifications; computer-recorded information; tangible property (including, but not limited to: computers; smart phones; cell phones; PDAs); credit
cards; entry cards; identification badges and keys; and any materials of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof). Notwithstanding the foregoing, (a) Executive
and his counsel may retain copies of documents relating to this Agreement, his employment relationship with the Company, and his benefits, compensation and equity interests; and (b) Executive’s counsel (and any experts engaged by such
counsel) may retain any Company documents provided to such counsel by the Company, by the Executive or by counsel for any party for the purpose of assisting in their defense of Executive in any government inquiries or proceedings or in any
litigation brought against the Company or Executive (the “permitted purposes”) and any copies thereof, provided that Executive’s counsel and experts use such Company documents only for the permitted purposes, maintain the
confidentiality of such Company documents (including, if they must be filed in court, filing them under seal if possible), and return them to the Company when they are no longer needed for the permitted purposes (or, in the case of Company documents
reflecting Executive’s attorneys’ work product or attorney-client communications between Executive and his attorneys, certifying their destruction when they are no longer legally required to be maintained), and provided further that
Executive and his counsel return to the Company promptly upon request, and share with no other party without the Company’s express written consent, any Company documents containing the Company’s attorney-client privileged information or
attorney work product of the Company’s counsel other than documents referenced in subparagraph (a) above. 

6.    Proprietary Information and Noncompetition Obligations. Executive acknowledges his continuing
obligations under the At-Will Employment, Confidential Information, Invention Assignment and Arbitration Agreement, executed by Executive on December 4, 2014 (the “Confidentiality Agreement”), a
copy of which is attached hereto as Exhibit A, including but not limited to, Executive’s obligations related to confidentiality, noncompetition, and noninterference with personnel relations. For purposes of Paragraph
7(d) of Exhibit A only, the parties agree that the term “person, firm, corporation or other entity that competes with the business of the Company” shall include, but not be limited to, the following entities: Nielsen, Moat, IAS,
DoubleVerify, Kantar, SimilarWeb, GfK, Mediametrie, Embee, RealityMine, and Conversant as well as business lines within Vizio, AT&T, Comcast, Oracle or Adobe that compete directly or indirectly with comScore (collectively, the “Restricted
Companies”); provided, however, that Executive may request that the Company consider a waiver of this Section 6 and Paragraph 7(d) of Exhibit A with respect to a specific opportunity, and the

  
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Company will consider such request in good faith. Notwithstanding the terms of the Confidentiality Agreement, Executive shall not be restricted from entering into either an employment or
consulting relationship with business lines of other companies other than the Restricted Companies so long as such business lines do not compete directly or indirectly with the business of the Company. Notwithstanding anything herein or in
Exhibit A to the contrary, Executive shall not be held liable under this Agreement, Exhibit A or any other agreement or any federal or state trade secret law for making any confidential disclosure of a Company trade secret or other
confidential information to a government official or an attorney for purposes of reporting a suspected violation of law or regulation, or in a court filing under seal. 

7.    Non-Disparagement. Executive agrees to refrain from making any
statement(s) that disparage the Company, its directors or executive officers. Nothing in this provision, or in any other provision of this Agreement, should be construed to limit the Executive from (i) complying with any valid subpoena or court
order (about which Executive shall provide the Company with prompt notice , a copy of the subpoena or court order, and a transcript of any testimony, all to the maximum extent permitted by applicable law or policy); (ii) cooperating with any
government investigation; (iii) voluntarily communicating, without notice to or approval by the Company, with any government agency regarding a potential violation of any law or regulation; (iv) cooperating with any reasonable requests by
the other party hereto; or (v) responding to untruthful statements made about him or defending himself in connection with any litigation or investigation. 

8.    Cooperation. Executive is permitted to cooperate fully and truthfully with any government authority
conducting an investigation into any potential violation of any law or regulation. Nothing in this Agreement is intended to or shall prohibit Executive from providing such cooperation. Executive also agrees to cooperate and assist comScore and/or
its Board of Directors or any committees thereof in any litigation or formal or informal investigation into matters which Executive has relevant knowledge to the extent reasonably requested. Executive agrees and acknowledges that such assistance and
cooperation may include, but not be limited to, providing all relevant information and documents reasonably available to Executive about matters on which he worked. Executive agrees as soon as reasonably practicable to make himself available to
comScore or its representatives at a mutually agreeable time for interviews and meetings regarding any matter relating to his employment or matters on which he worked while employed at comScore as may be reasonably requested. The Company shall
reimburse Executive for the reasonable time and expenses he incurs in the course of cooperating with such Company requests. 

9.    Release of All Claims. Except as otherwise set forth in this Agreement, Executive hereby releases,
acquits and discharges the Company and its affiliates, and their officers, directors, agents, servants, employees, attorneys, shareholders, successors and assigns (collectively, the “Released Parties”), of and from any and all claims,
liabilities, demands, causes of action, costs, expenses, attorneys’ fees, damages, indemnities (except those indemnification rights excluded below) and obligations of every kind and nature, in law, equity or otherwise, known or unknown,
suspected or unsuspected, disclosed and undisclosed, arising out of or in any way related to any and all agreements, events, acts or conduct executed or occurring at any time prior to and including the date on which Executive executes this
Agreement, including but not 

  
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limited to: all such claims and demands directly or indirectly arising out of or in any way connected with Executive’s employment with the Company or the termination of that employment;
claims or demands related to salary, incentive payments, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of compensation;
claims pursuant to federal, state or local law, statute or cause of action including, but not limited to, the federal Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act, as amended (the “ADEA”); the federal
Americans with Disabilities Act of 1990, as amended; tort law; contract law; wrongful discharge; discrimination; harassment; fraud; defamation; emotional distress; and breach of the implied covenant of implied good faith and fair dealing. 

EXECUTIVE HEREBY ACKNOWLEDGES AND AGREES THAT 

THIS RELEASE IS A GENERAL RELEASE AND THAT BY 

SIGNING THIS AGREEMENT, EXECUTIVE IS EXPRESSLY WAIVING ALL RIGHTS 

FOR ALL KNOWN AND UNKNOWN CLAIMS. 

Nothing in this Agreement shall be construed to prohibit Executive from commencing, instituting, participating, providing truthful
information, or otherwise assisting in any investigation or proceeding conducted by the Equal Employment Opportunity Commission, the National Labor Relations Board, the Securities and Exchange Commission or any other government agency; provided,
however, that by signing this Agreement, Executive agrees to waive and release any right Executive may have to recover monetary relief or compensation from the Released Parties in connection with any such proceeding or investigation. For the
avoidance of doubt, nothing herein prevents Executive from receiving any whistleblower or similar award. Further, this release shall not be deemed to affect a release of any claim that may not be released by law, including rights to unemployment or
workers compensation, and rights to vested benefits governed by ERISA or under any other of the Company’s employee benefit and incentive plans, nor shall it be deemed to affect a release of any right to enforce the terms of this Agreement or
any rights Executive may have to indemnification under the Indemnification Agreement (attached hereto as Exhibit B), the Company’s By-Laws or applicable law. 

Executive understands that this Agreement: (i) does not preclude him from challenging the validity of this Agreement, including the
waiver and release provisions, under the ADEA; and (ii) does not waive any rights or claims which first arise after the Signature Date. 

Executive represents and warrants that Executive has not previously filed or joined in any claim released herein. 

10.    Waiver and Release Acknowledgement. Executive acknowledges that Executive is knowingly and
voluntarily making the above waiver and release. Executive also acknowledges that the consideration given for the waiver and the release in the preceding paragraphs hereof is in addition to anything of value to which Executive was already
entitled. Executive further acknowledges that: 
  

	 	a.	Executive has been and is advised to consult an attorney regarding this Agreement prior to executing it and that he has been given sufficient time to do so; 

  
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	 	b.	Executive has received full and adequate consideration for this Agreement, including the waiver and release herein; and 

  

	 	c.	Executive fully understands and acknowledges the significance and consequences of this Agreement and represents by his signature that the terms of this Agreement are fully understood and voluntarily accepted by
him. This Agreement has been individually negotiated by Executive. 

11.    Acknowledgment Regarding the Age Discrimination in Employment Act and, specifically, 29
U.S.C. § 626(f). Executive understands that as part of this Agreement, he voluntarily and knowingly waives rights or claims under the ADEA, and acknowledges that the knowing and voluntary waiver of his claims is in accordance with the ADEA,
and, specifically, 29 U.S.C. § 626(f). 
 12.    Acceptance and Revocation. This Agreement
was presented to Executive for review and consideration on December 1, 2017 (“Review Date”). Executive understands that he has had at least forty-five (45) days from the Review Date within which to decide whether to sign this
Agreement and return it to Company. Executive further acknowledges that on December 1, 2017, he also received an attachment describing the eligibility criteria for selection for the Company’s December 2017 reduction in force, the job
titles and ages of all individuals selected for involuntary separation from the Company within the Decisional Unit (as defined in that attachment), and the job titles and ages of all individuals who were not selected for involuntary separation
within the Decisional Unit. Executive agrees and understands that any changes to this Agreement that may be negotiated between Executive and Company, whether material or immaterial, will not restart the time Executive has to consider and sign the
Agreement. Executive understands that he may sign and return the Agreement at any time before the expiration of the forty-five (45) day period. Executive further understands that he has seven (7) days after signing this Agreement to revoke
it in writing submitted to Carol DiBattiste, General Counsel and Chief Privacy, People, and Compliance Officer, at cdibattiste@comscore.com. (“Revocation Period”). This Agreement shall not become effective until (1) Executive has
signed the Agreement, and (2) the Revocation Period has expired without Company having received written notice of a revocation (“Effective Date”). 

13.    Enforcement. Except as otherwise provided herein, if any action at law or in equity is necessary to
enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 

14.    Costs. Other than any costs recoverable under the “Enforcement” Section above, the parties
intend that each shall bear its own costs, if any, that may have been incurred relating to this Agreement. 

15.    No Admission of Liability. This Agreement is not an admission of liability by any party. 

  
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 16.    Notice. In the event that any notice is to be given to
any party under this Agreement, it shall be given by certified mail, return receipt requested, and addressed to the party as follows (including any changes in address concerning a party hereto that have been provided to the other party): 

 

			
	To Company:	 	comScore, Inc.
		 	Attention: General Counsel
		 	11950 Democracy Drive, Suite 600
		 	Reston, VA 20190
		
	To Executive:	 	Cameron Meierhoefer
		 	Address on File
		
	With a copy to :	 	Benjamin Y. Lieber
		 	Potomac Law Group PLLC
		 	1300 Pennsylvania Avenue, NW
	 	 	Suite 700
		 	Washington, D.C. 20004

 17.    Continuing Obligations. The parties agree that the terms of the
Confidentiality Agreement and the Indemnification Agreement, attached hereto as Exhibits A and B, respectively, continue in full force and effect except as modified by the terms of this Agreement. For the avoidance of doubt, nothing
herein alters: (i) Executive’s rights or obligations with respect to indemnification as set forth in the Indemnification Agreement, the Company’s By-Laws or applicable law; or
(ii) Executive’s obligations and the Company’s rights under the Confidentiality Agreement as stated above in Paragraph 6. 

18.    Section 409A. It is intended that all amounts or benefits provided under this Agreement comply with
or be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury regulations relating thereto, so as not to subject Executive to the payment of any interest and tax penalty which may be
imposed under Section 409A of the Code, and this Agreement shall be interpreted, construed, and administered accordingly; provided, however, that the Company and the other Released Parties shall not be responsible for any taxes, penalties,
interest or other losses or expenses incurred by Executive due to any failure to comply with Section 409A of the Code. In furtherance thereof, the terms of this Agreement, to the extent necessary, may be modified to be exempt from and so comply
with Section 409A of the Code. Each payment under this Agreement as a result of the separation of Executive’s service shall be considered a separate payment for purposes of Section 409A of the Code. 

19.    Miscellaneous. This Agreement, along with the Confidentiality Agreement and the Indemnification
Agreement, constitutes the full and entire understanding and agreement between the parties regarding the subjects hereof. It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained
herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in writing signed by both Executive and a duly authorized officer of the Company. This Agreement shall bind the
heirs, personal representatives, successors and assigns of both Executive and the Company, and inure to the benefit of both Executive and the 

  
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Company, their heirs, successors and assigns. Executive represents and warrants that Executive has not previously assigned or transferred, or purported to assign or transfer, to any person or
entity, any of the claims released herein and Executive agrees to indemnify and hold harmless the Released Parties from any claim, demand, debt, obligation, liability, cost, expense, right of action or cause of action based on, arising out of or in
assignment. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question shall be modified by the court
so as to be rendered enforceable. The waiver by the Company of any provision of this Agreement (including but not limited to Section 6) shall not operate or be construed as a waiver of any other provision or an agreement to any other request
for waiver of the same provision. This Agreement shall be governed in all respects by the laws of the Commonwealth of Virginia, without reference to its choice of law rules. This Agreement may be signed electronically and in counterparts. 

The undersigned state that they have carefully read this Agreement, that they know and understand its terms, and they sign it freely. 

December 6, 2017 
  

	
	COMPANY:
	
	COMSCORE, INC.
	
	 /s/ Carol DiBattiste

	Carol DiBattiste
	General Counsel and Chief Privacy, People, and Compliance Officer
	
	EXECUTIVE:
	
	 /s/ Cameron Meierhoefer

	Cameron Meierhoefer

  
 Page 9 of 9LOAN
AGREEMENT

 

This
LOAN AGREEMENT (this “Agreement”) is entered into at Albany, New York, as of  December 1, 2017,
between Plastic Printing Professionals, Inc., a New York corporation, with its chief executive office located at 28
East Main Street, Suite 1525, Rochester, New York 14614 (the “Borrower”) and Citizens Bank, N.A.,
a national banking association, with an address of 833 Broadway, Albany, New York 12207 (the “Bank”).

 

FOR
VALUE RECEIVED, and in consideration of the granting by the Bank of financial accommodations to or for the benefit of the Borrower,
including without limitation respecting the Obligations (as hereinafter defined), the Borrower represents to and agrees with the
Bank, as of the date hereof and as of the date of each loan, credit and/or other financial accommodation, as follows:

 

1.
THE LOAN

 

1.1       Loan.
The Bank agrees, subject to the terms and conditions set forth herein, to establish an equipment acquisition line of credit (the
“Equipment Line”) for the Borrower pursuant to which the Bank agrees to lend to the Borrower upon the Borrower’s
request up to Eight Hundred Thousand Dollars and Zero Cents ($800,000.00) (the “Line Loan Amount”),
provided there is no continuing uncured Event of Default (as hereinafter defined) and subject to the terms and conditions set
forth herein, for the purpose of enabling the Borrower to purchase equipment (the “Purchased Equipment”) for use in
the Borrower’s current line of business. The Equipment Line shall be evidenced by that certain Term Note Non- Revolving
Line of Credit, of even date herewith (the “Equipment Note”), by Plastic Printing Professionals, Inc. in favor of
the Bank in the face amount of the Line Loan Amount. Each advance shall be limited to a maximum of 100% of the Hard Costs
(as hereinafter defined) of the applicable item of Purchased Equipment. Hard Costs shall mean the invoice price of such Purchased
Equipment less delivery and installation costs and taxes. Each request for financing will be reviewed by the Bank along with all
invoices or other evidence acceptable to the Bank, indicating the purchase, delivery and acceptance of such Purchased Equipment,
and all advances shall be approved by the Bank in its sole discretion. Advances may be made respecting this line of credit from
time to time from the date of this Agreement up to and including  December 1, 2018. This Agreement, the Equipment Note, and any
and all other documents, amendments or renewals executed and delivered in connection with any of the foregoing are collectively
hereinafter referred to as the “Loan Documents”.

 

	1.2	Definitions.
    The following definitions shall apply:

 

	 	(a)	“Bank
    Affiliate” shall mean any “Affiliate” of the Bank or any lender acting as a participant under any loan arrangement
    between the Bank and the Borrower(s). The term “Affiliate” shall mean with respect to any person, (a) any person
    which, directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control
    with, such person, or (b) any person who is a director or officer (i) of such person, (ii) of any subsidiary of such person,
    or (iii) any person described in clause (a) above. For purposes of this definition, control of a person shall mean the power,
    direct or indirect, (x) to vote 5% or more of the Capital Stock having ordinary voting power for the election of directors
    (or comparable equivalent) of such person, or (y) to direct or cause the direction of the management and policies of such
    person whether by contract or otherwise. Control may be by ownership, contract, or otherwise.

 

    	 	 	 

     

    

 

	 	(b)	“Code”
    shall mean the New York Uniform Commercial Code as amended from time to time.
	 	 	 
	 	(c)	“Obligation(s)”
    shall mean, without limitation, all loans, advances, indebtedness, notes, liabilities, rate swap transactions, basis swaps,
    forward rate transactions, commodity swaps, commodity options, equity or equity index swaps, equity or equity index options,
    bond options, interest rate options, foreign exchange transactions, cap transactions, floor transactions, collar transactions,
    forward transactions, currency swap transactions, cross-currency rate swap transactions, currency options (provided, however,
    that if and only if the Borrower is not an “eligible contract participant” (as defined in the Commodity Exchange
    Act (7 U.S.C. § 1 et seq.) and any applicable rules, as amended), then to the extent applicable law prohibits such Borrower
    from entering into an agreement to secure any obligations in respect of a “swap” (as defined in the Commodity
    Exchange Act and any applicable rules, as amended, and referred to herein as a “Swap”), Obligations shall not
    include obligations of the Borrower to Bank under any Swap) and amounts, liquidated or unliquidated, owing by the Borrower
    to the Bank or any Bank Affiliate at any time, of each and every kind, nature and description, whether arising under this
    Agreement or otherwise, and whether secured or unsecured, direct or indirect (that is, whether the same are due directly by
    the Borrower to the Bank or any Bank Affiliate; or are due indirectly by the Borrower to the Bank or any Bank Affiliate as
    endorser, guarantor or other surety, or as borrower of obligations due third persons which have been endorsed or assigned
    to the Bank or any Bank Affiliate, or otherwise), absolute or contingent, due or to become due, now existing or hereafter
    arising or contracted, including, without limitation, payment when due of all amounts outstanding respecting any of the Loan
    Documents. Said term shall also include all interest and other charges chargeable to the Borrower or due from the Borrower
    to the Bank or any Bank Affiliate from time to time and all costs and expenses referred to in this Agreement.
	 	 	 
	 	(d)	“Person”
    or “party” shall mean individuals, partnerships, corporations, limited liability companies and all other entities.

 

All
words and terms used in this Agreement other than those specifically defined herein shall have the meanings accorded to them in
the Code.

 

2.
REPRESENTATIONS AND WARRANTIES

 

2.1       Organization
and Qualification. Borrower is a duly organized and validly existing corporation under the laws of the State of its incorporation
with the exact legal name set forth in the first paragraph of this Agreement. Borrower is in good standing under the laws of said
State, has the power to own its property and conduct its business as now conducted and as currently proposed to be conducted,
and is duly qualified to do business under the laws of each state where the nature of the business done or property owned requires
such qualification.

 

2.2       Subsidiaries.
Borrower has no subsidiaries other than as previously specifically consented to in writing by the Bank, if any, and the Borrower
has never consolidated, merged or acquired substantially all of the assets of any other entity or person other than as previously
specifically consented to in writing by the Bank, if any.

 

2.3       Corporate
Records. Borrower’s corporate charter, articles or certificate of organization or incorporation and all amendments thereto
have been duly filed and are in proper order. All outstanding capital stock issued by the Borrower was and is properly issued
and all books and records of the Borrower, including but not limited to its minute books, bylaws and books of account, are accurate
and up to date and will be so maintained.

 

2.4       Title
to Properties; Absence of Liens. Borrower has good and clear record and marketable title to all of its properties and assets,
and all of its properties and assets are free and clear of all mortgages, liens, pledges, charges, encumbrances and setoffs, except
those mortgages, deeds of trust, leases of personal property and security interests previously specifically consented to in writing
by the Bank.

 

    	 	2	 

     

    

 

2.5       Places
of Business. Borrower’s chief executive office is correctly stated in the preamble to this Agreement, and Borrower shall,
during the term of this Agreement, keep the Bank currently and accurately informed in writing of each of its other places of business,
and shall not change the location of such chief executive office or open or close, move or change any existing or new place of
business without giving the Bank at least thirty (30) days prior written notice thereof.

 

2.6       Valid
Obligations. The execution, delivery and performance of the Loan Documents have been duly authorized by all necessary corporate
action and each represents a legal, valid and binding obligation of Borrower and is fully enforceable according to its terms,
except as limited by laws relating to the enforcement of creditors’ rights.

 

2.7       Conflicts.
There is no provision in Borrower’s organizational or charter documents, if any, or in any indenture, contract or agreement
to which Borrower is a party which prohibits, limits or restricts the execution, delivery or performance of the Loan Documents.

 

2.8       Governmental
Approvals. The execution, delivery and performance of the Loan Documents does not require any approval of or filing with any
governmental agency or authority.

 

2.9       Litigation,
etc. There are no actions, claims or proceedings pending or to the knowledge of Borrower threatened against Borrower which
might materially adversely affect the ability of Borrower to conduct its business or to pay or perform the Obligations.

 

2.10       Taxes.
The Borrower has filed all Federal, state and other tax returns required to be filed (except for such returns for which current
and valid extensions have been filed), and all taxes, assessments and other governmental charges due from the Borrower have been
fully paid. The Borrower has established on its books reserves adequate for the payment of all Federal, state and other tax liabilities
(if any).

 

2.11       Use
of Proceeds. No portion of any loan is to be used for (i) the purpose of purchasing or carrying any “margin security”
or “margin stock” as such terms are used in Regulations U and X of the Board of Governors of the Federal Reserve System,
12 C.F.R. 221 and 224 or (ii) primarily personal, family or household purposes.

 

2.12       Environmental.
As of the date hereof neither the Borrower nor any of Borrower’s agents, employees or independent contractors (1) have caused
or are aware of a release or threat of release of Hazardous Materials (as defined herein) on any of the premises or personal property
owned or controlled by Borrower (“Controlled Property”) or any property abutting Controlled Property (“Abutting
Property”), which could give rise to liability under any Environmental Law (as defined herein) or any other Federal, state
or local law, rule or regulation; (2) have arranged for the transport of or transported any Hazardous Materials in a manner as
to violate, or result in potential liabilities under, any Environmental Law; (3) have received any notice, order or demand from
the Environmental Protection Agency or any other Federal, state or local agency under any Environmental Law; (4) have incurred
any liability under any Environmental Law in connection with the mismanagement, improper disposal or release of Hazardous Materials;
or (5) are aware of any inspection or investigation of any Controlled Property or Abutting Property by any Federal, state or local
agency for possible violations of any Environmental Law.

 

To
the best of Borrower’s knowledge, neither Borrower, nor any prior owner or tenant of any Controlled Property, committed
or omitted any act which caused the release of Hazardous Materials on such Controlled Property which could give rise to a lien
thereon by any Federal, state or local government. No notice or statement of claim or lien affecting any Controlled Property has
been recorded or filed in any public records by any Federal, state or local government for costs, penalties, fines or other charges
as to such property. All notices, permits, licenses or similar authorizations, if any, required to be obtained or filed in connection
with the ownership, operation, or use of the Controlled Property, including without limitation, the past or present generation,
treatment, storage, disposal or release of any Hazardous Materials into the environment, have been duly obtained or filed.

 

    	 	3	 

     

    

 

Borrower
agrees to indemnify and hold the Bank and any Bank Affiliate harmless from all liability, loss, cost, damage and expense, including
attorney fees and costs of litigation, arising from any and all of its violations of any Environmental Law (including those arising
from any lien by any Federal, state or local government arising from the presence of Hazardous Materials) or from the presence
of Hazardous Materials located on or emanating from any Controlled Property or Abutting Property whether existing or not existing
and whether known or unknown at the time of the execution hereof and regardless of whether or not caused by, or within the control
of Borrower. Borrower further agrees to reimburse Bank upon demand for any costs incurred by Bank in connection with the foregoing.
Borrower agrees that its obligations hereunder shall be continuous and shall survive the repayment of all debts to Bank and shall
continue so long as a valid claim may be lawfully asserted against the Bank.

 

The
term “Hazardous Materials” includes but is not limited to any and all substances (whether solid, liquid or gas) defined,
listed, or otherwise classified as pollutants, hazardous wastes, hazardous substances, hazardous materials, extremely hazardous
wastes, or words of similar meaning or regulatory effect under any present or future Environmental Law or that may have a negative
impact on human health or the environment, including but not limited to petroleum and petroleum products, asbestos and asbestos-
containing materials, polychlorinated biphenyls, lead, radon, radioactive materials, flammables and explosives.

 

The
term “Environmental Law” means any present and future Federal, state and local laws, statutes, ordinances, rules,
regulations and the like, as well as common law, relating to protection of human health or the environment, relating to Hazardous
Materials, relating to liability for or costs of remediation or prevention of releases of Hazardous Materials or relating to liability
for or costs of other actual or threatened danger to human health or the environment. The term “Environmental Law”
includes, but is not limited to, the following statutes, as amended, any successor thereto, and any regulations promulgated pursuant
thereto, and any state or local statutes, ordinances, rules, regulations and the like addressing similar issues: the Comprehensive
Environmental Response, Compensation and Liability Act; the Emergency Planning and Community Right-to-Know Act; the Hazardous
Materials Transportation Act; the Resource Conservation and Recovery Act (including but not limited to Subtitle I relating to
underground storage tanks); the Solid Waste Disposal Act; the Clean Water Act; the Clean Air Act; the Toxic Substances Control
Act; the Safe Drinking Water Act; the Occupational Safety and Health Act; the Federal Water Pollution Control Act; the Federal
Insecticide, Fungicide and Rodenticide Act; the Endangered Species Act; the National Environmental Policy Act; the River and Harbors
Appropriation Act; and the New York Environmental Conservation Law, Chapter 43-B of the New York Consolidated Laws.

 

3.
AFFIRMATIVE COVENANTS

 

3.1       Payments
and Performance. Borrower will duly and punctually pay all Obligations becoming due to the Bank and will duly and punctually
perform all Obligations on its part to be done or performed under this Agreement.

 

3.2       Books
and Records; Inspection. Borrower will at all times keep proper books of account in which full, true and correct entries will
be made of its transactions in accordance with generally accepted accounting principles, consistently applied and which are, in
the opinion of a Certified Public Accountant acceptable to Bank, adequate to determine fairly the financial condition and the
results of operations of Borrower. Borrower will at all reasonable times make its books and records available in its offices for
inspection, examination and duplication by the Bank and the Bank’s representatives and will permit inspection of all of
its properties by the Bank and the Bank’s representatives. Borrower will from time to time furnish the Bank with such information
and statements as the Bank may request in its sole discretion with respect to the Obligations.

 

    	 	4	 

     

    

 

3.3       Financial
Statements. Borrower will furnish to Bank:

 

	 	(a)	as
    soon as available to Borrower, but in any event within 120 days after the close of each fiscal year, a full and complete
    signed copy of financial statements, prepared by certified public accountants acceptable to Bank, which shall include a balance
    sheet of the Borrower, as at the end of such year, statement of cash flows and statement of profit and loss of the Borrower
    reflecting the results of its operations during such year, bearing the opinion of such certified public accountants and prepared
    on a reviewed basis in accordance with generally accepted accounting principles, consistently applied together with any so-called
    management letter;
	 	 	 
	 	(b)	within
    120 days after the close of each annual fiscal period of Borrower, an Accounts Receivable aging report in form satisfactory
    to Bank showing the total amount due from each account debtor, the month in which each Account Receivable was created, as
    well as an accounts payable aging report and such other information as Bank shall request;
	 	 	 
	 	(c)	within
    120 days after the close of each fiscal year of Borrower, an inventory report in form satisfactory to Bank showing
    a list of the Borrower’s inventory, location of such inventory and such other information as Bank shall request;
	 	 	 
	 	(d)	from
    time to time, such financial data and information about Borrower as Bank may reasonably request; and
	 	 	 
	 	(e)	any
    financial data and information about any guarantors of the Obligations as Bank may reasonably request.

 

3.4       Conduct
of Business. The Borrower will maintain its existence in good standing and comply with all laws and regulations of the United
States and of any state or states thereof and of any political subdivision thereof, and of any governmental authority which may
be applicable to it or to its business; provided that this covenant shall not apply to any tax, assessment or charge which is
being contested in good faith and with respect to which reserves have been established and are being maintained.

 

3.5       Contact
with Accountant. The Borrower hereby authorizes the Bank to directly contact and communicate with any accountant employed
by Borrower in connection with the review and/or maintenance of Borrower’s books and records or preparation of any financial
reports delivered by or at the request of Borrower to Bank.

 

3.6       Operating
and Deposit Accounts. The Borrower shall maintain with the Bank its primary operating and deposit accounts. At the option
of the Bank, all loan payments and fees will automatically be debited from the Borrower’s primary operating account and
all advances will automatically be credited to the Borrower’s primary operating account.

 

3.7       Taxes.
Borrower will promptly pay all real and personal property taxes, assessments and charges and all franchise, income, unemployment,
retirement benefits, withholding, sales and other taxes assessed against it or payable by it before delinquent; provided that
this covenant shall not apply to any tax assessment or charge which is being contested in good faith and with respect to which
reserves have been established and are being maintained.

 

3.8       Maintenance.
Borrower will keep and maintain its properties, if any, in good repair, working order and condition. Borrower will immediately
notify the Bank of any loss or damage to or any occurrence which would adversely affect the value of any such property.

 

    	 	5	 

     

    

 

3.9       Insurance.
Borrower will maintain in force property and casualty insurance on any property of the Borrower, if any, against risks customarily
insured against by companies engaged in businesses similar to that of the Borrower containing such terms and written by such companies
as may be satisfactory to the Bank, such insurance to be payable to the Bank as its interest may appear in the event of loss and
to name the Bank as insured pursuant to a standard loss payee clause; no loss shall be adjusted thereunder without the Bank’s
approval; and all such policies shall provide that they may not be canceled without first giving at least Ten (10) days written
notice of cancellation to the Bank. In the event that the Borrower fails to provide evidence of such insurance, the Bank may,
at its option, secure such insurance and charge the cost thereof to the Borrower. At the option of the Bank, all insurance proceeds
received from any loss or damage to any property shall be applied either to the replacement or repair thereof or as a payment
on account of the Obligations. From and after the occurrence of an Event of Default, the Bank is authorized to cancel any insurance
maintained hereunder and apply any returned or unearned premiums, all of which are hereby assigned to the Bank, as a payment on
account of the Obligations.

 

3.10       Notification
of Default. Immediately upon becoming aware of the existence of any condition or event which constitutes an Event of Default,
or any condition or event which would upon notice or lapse of time, or both, constitute an Event of Default, Borrower shall give
Bank written notice thereof specifying the nature and duration thereof and the action being or proposed to be taken with respect
thereto.

 

3.11       Notification
of Material Litigation. Borrower will immediately notify the Bank in writing of any litigation or of any investigative proceedings
of a governmental agency or authority commenced or threatened against it which would or might be materially adverse to the financial
condition of Borrower or any guarantor of the Obligations.

 

3.12       Pension
Plans. With respect to any pension or benefit plan maintained by Borrower, or to which Borrower contributes (“Plan”),
the benefits under which are guarantied, in whole or in part, by the Pension Benefit Guaranty Corporation created by the Employee
Retirement Income Security Act of 1974, P.L. 93-406, as amended (“ERISA”) or any governmental authority succeeding
to any or all of the functions of the Pension Benefit Guaranty Corporation (“Pension Benefit Guaranty Corporation”),
Borrower will (a) fund each Plan as required by the provisions of Section 412 of the Internal Revenue Code of 1986, as amended;
(b) cause each Plan to pay all benefits when due; (c) furnish Bank (i) promptly with a copy of any notice of each Plan’s
termination sent to the Pension Benefit Guaranty Corporation (ii) no later than the date of submission to the Department of Labor
or to the Internal Revenue Service, as the case may be, a copy of any request for waiver from the funding standards or extension
of the amortization periods required by Section 412 of the Internal Revenue Code of 1986, as amended and (iii) notice of any Reportable
Event as such term is defined in ERISA; and (d) subscribe to any contingent liability insurance provided by the Pension Benefit
Guaranty Corporation to protect against employer liability upon termination of a guarantied pension plan, if available to Borrower.

 

4.
NEGATIVE COVENANTS

 

4.1       Financial
Covenants. The Borrower will not at any time or during any fiscal period (as applicable) fail to be in compliance with any
of the financial covenants in this section.

 

		(a)	Definitions.
                                         The following definitions shall apply to this Section:

 

(i)       “Current
Maturity of Long-Term Debt” (“CMLTD”) shall mean, for any period, the current scheduled principal or capital
lease payments required to be paid during the applicable period.

 

(ii)       “Distributions”
shall mean all cash dividends to shareholders, and all cash distributions to shareholders of Subchapter S corporations, to partners
of partnerships, to members of limited liability companies or to beneficiaries of trusts.

 

    	 	6	 

     

    

 

(iii)       “Earnings”
shall mean earnings as defined under GAAP.

 

(iv)       “EBITDA”
shall mean, for any period, Earnings from continuing operations before payment of federal, state and local income taxes, plus
Interest Expense, depreciation and amortization, in each case for such period, computed and calculated in accordance with GAAP.

 

(v)       “GAAP”
shall mean generally accepted accounting principles in effect from time to time in the United States.

 

(vi)       “Interest
Expense” shall mean, for any period, ordinary, regular, recurring and continuing expenses for interest on all borrowed money.

 

(vii)       “Indebtedness”
shall mean (x) all indebtedness for borrowed money or for the deferred purchase price of property or services, and all obligations
under leases which are or should be, under GAAP, recorded as capital leases, in respect of which a person is directly or contingently
liable as borrower, guarantor, endorser or otherwise, or in respect of which a person otherwise assures a creditor against loss,
(y) all obligations for borrowed money or for the deferred purchase price of property or services secured by (or for which the
holder has an existing right, contingent or otherwise, to be secured by) any lien upon property (including without limitation
accounts receivable and contract rights) owned by a person, whether or not such person has assumed or become liable for the payment
thereof, and (z) all other liabilities and obligations which would be classified in accordance with GAAP as liabilities on a balance
sheet or to which reference should be made in footnotes thereto.

 

(viii)       “Intangible
Assets” shall mean, as of the date of determination thereof, assets that in accordance with GAAP are properly classifiable
as intangible assets, including, but not limited to, goodwill, franchises, licenses, patents, trademarks, trade names and copyrights.

 

(ix)       “Tangible
Net Worth” shall mean, as of the date of determination thereof, total assets, excluding all Intangible Assets and all obligations
owed from affiliates or any employee, less total liabilities.

 

	 	(b)	EBITDA
    (after Taxes and Distributions) to Interest Expense plus CMLTD. The Borrower shall not permit the ratio of its EBITDA,
    minus taxes paid in cash and Distributions, to Interest Expense plus CMLTD to be less than 1.15 to 1.0 for any fiscal
    year.
	 	 	 
	 	(c)	Current
    Ratio. The Borrower shall maintain a current ratio of 1.25:1.0;
	 	 	 
	 	(d)	Max
    TL/TNW. The Borrower shall maintain a maximum total liabilities to Tangible Net Worth ratio of 3.0 to 1.0.

 

4.2       Limitations
on Indebtedness. Borrower shall not issue any evidence of indebtedness or create, assume, guarantee, become contingently liable
for, or suffer to exist indebtedness in addition to indebtedness to the Bank, except indebtedness or liabilities of Borrower,
other than for money borrowed, incurred or arising in the ordinary course of business.

 

4.3       Sale
of Interest. There shall not be any sale or transfer of ownership of any interest in the Borrower without the Bank’s
prior written consent.

 

4.4       Loans
or Advances. Borrower shall not make any loans or advances to any individual, partnership, corporation, limited liability
company, trust, or other organization or person, including without limitation its officers and employees; provided, however, that
Borrower may make advances to its employees, including its officers, with respect to expenses incurred or to be incurred by such
employees in the ordinary course of business which expenses are reimbursable by Borrower; and provided further, however, that
Borrower may extend credit in the ordinary course of business in accordance with customary trade practices.

 

    	 	7	 

     

    

 

4.5       Dividends
and Distributions. Borrower shall not, without prior written consent of the Bank, pay any dividends on or make any distribution
on account of any class of Borrower’s capital stock in cash or in property (other than additional shares of such stock),
or redeem, purchase or otherwise acquire, directly or indirectly, any of such stock, except, so long as Borrower is not in default
hereunder, if Borrower is a Subchapter S corporation, under the regulations of the Internal Revenue Service of the United States,
distributions to the Shareholders of Borrower in such amounts as are necessary to pay the tax liability of such Shareholders due
as a result of such Shareholders’ interest in the Borrower.

 

4.6       Investments.
The Borrower shall not make investments in, or advances to, any individual, partnership, corporation, limited liability company,
trust or other organization or person other than as previously specifically consented to in writing by the Bank. The Borrower
will not purchase or otherwise invest in or hold securities, nonoperating real estate or other nonoperating assets or purchase
all or substantially all the assets of any entity other than as previously specifically consented to in writing by the Bank.

 

4.7       Merger.
Borrower shall not merge or consolidate or be merged or consolidated with or into any other entity.

 

4.8       Capital
Expenditures. The Borrower shall not, directly or indirectly, make or commit to make capital expenditures by lease, purchase,
or otherwise, except in the ordinary and usual course of business for the purpose of replacing machinery, equipment or other personal
property which, as a consequence of wear, duplication or obsolescence, is no longer used or necessary in the Borrower’s
business.

 

4.9       Sale
of Assets. Borrower shall not sell, lease or otherwise dispose of any of its assets, except in the ordinary and usual course
of business and except for the purpose of replacing machinery, equipment or other personal property which, as a consequence of
wear, duplication or obsolescence, is no longer used or necessary in the Borrower’s business, provided that fair consideration
is received therefor; provided, however, in no event shall the Borrower sell, lease or otherwise dispose of any equipment purchased
with the proceeds of any loans made by the Bank.

 

4.10       Restriction
on Liens. Borrower shall not grant any security interest in, or mortgage of, any of its properties or assets. Borrower shall
not enter into any agreement with any person other than the Bank that prohibits the Borrower from granting any security interest
in, or mortgage of, any of its properties or assets.

 

4.11       Other
Business. Borrower shall not engage in any business other than the business in which it is currently engaged or a business
reasonably allied thereto.

 

4.12       Change
of Name, etc. Borrower shall not change its legal name or the State or the type of its organization, without giving the Bank
at least 30 days prior written notice thereof.

 

5.
DEFAULT

 

5.1       Default.
“Event of Default” shall mean the occurrence of one or more of any of the following events:

 

	 	(a)	default
    of any liability, obligation, covenant or undertaking of the Borrower or any guarantor of the Obligations to the Bank, hereunder
    or otherwise, including, without limitation, failure to pay in full and when due any installment of principal or interest
    or default of the Borrower or any guarantor of the Obligations under any other Loan Document or any other agreement with the
    Bank;

 

    	 	8	 

     

    

 

	 	(b)	failure
    of the Borrower or any guarantor of the Obligations to maintain aggregate collateral security value satisfactory to the Bank;
	 	 	 
	 	(c)	default
    of any material liability, obligation or undertaking of the Borrower or any guarantor of the Obligations to any other party;
	 	 	 
	 	(d)	if
    any statement, representation or warranty heretofore, now or hereafter made by the Borrower or any guarantor of the Obligations
    in connection with this Agreement or in any supporting financial statement of the Borrower or any guarantor of the Obligations
    shall be determined by the Bank to have been false or misleading in any material respect when made;
	 	 	 
	 	(e)	if
    the Borrower or any guarantor of the Obligations is a corporation, trust, partnership or limited liability company, the liquidation,
    termination or dissolution of any such organization, or the merger or consolidation of such organization into another entity,
    or its ceasing to carry on actively its present business or the appointment of a receiver for its property;
	 	 	 
	 	(f)	the
    death of the Borrower or any guarantor of the Obligations and, if the Borrower or any guarantor of the Obligations is a partnership
    or limited liability company, the death of any partner or member;
	 	 	 
	 	(g)	the
    institution by or against the Borrower or any guarantor of the Obligations of any proceedings under the Bankruptcy Code 11
    USC §101 et seq. or any other law in which the Borrower or any guarantor of the Obligations is alleged to be insolvent
    or unable to pay its debts as they mature, or the making by the Borrower or any guarantor of the Obligations of an assignment
    for the benefit of creditors or the granting by the Borrower or any guarantor of the Obligations of a trust mortgage for the
    benefit of creditors;
	 	 	 
	 	(h)	the
    service upon the Bank of a writ in which the Bank is named as trustee of the Borrower or any guarantor of the Obligations;
	 	 	 
	 	(i)	a
    judgment or judgments for the payment of money shall be rendered against the Borrower or any guarantor of the Obligations,
    and any such judgment shall remain unsatisfied and in effect for any period of thirty (30) consecutive days without a stay
    of execution;
	 	 	 
	 	(j)	any
    levy, lien (including mechanics lien), seizure, attachment, execution or similar process shall be issued or levied on any
    of the property of the Borrower or any guarantor of the Obligations;
	 	 	 
	 	(k)	the
    termination or revocation of any guaranty of the Obligations; or
	 	 	 
	 	(l)	the
    occurrence of such a change in the condition or affairs (financial or otherwise) of the Borrower or any guarantor of the Obligations,
    or the occurrence of any other event or circumstance, such that the Bank, in its sole discretion, deems that it is insecure
    or that the prospects for timely or full payment or performance of any obligation of the Borrower or any guarantor of the
    Obligations to the Bank has been or may be impaired.

 

5.2       Acceleration.
If an Event of Default shall occur, at the election of the Bank, all Obligations shall become immediately due and payable without
notice or demand, except with respect to Obligations payable on DEMAND, which shall be due and payable on DEMAND, whether or not
an Event of Default has occurred.

 

5.3       Nonexclusive
Remedies. All of the Bank’s rights and remedies not only under the provisions of this Agreement but also under any other
agreement or transaction shall be cumulative and not alternative or exclusive, and may be exercised by the Bank at such time or
times and in such order of preference as the Bank in its sole discretion may determine.

 

    	 	9	 

     

    

 

6.
MISCELLANEOUS

 

6.1       Waivers.
The Borrower waives notice of intent to accelerate, notice of acceleration, notice of nonpayment, demand, presentment, protest
or notice of protest of the Obligations, and all other notices, consents to any renewals or extensions of time of payment thereof,
and generally waives any and all suretyship defenses and defenses in the nature thereof.

 

6.2       Waiver
of Homestead. To the maximum extent permitted under applicable law, the Borrower hereby waives and terminates any homestead
rights and/or exemptions respecting any of its property under the provisions of any applicable homestead laws, including without
limitation, Section 5206 of the Civil Practice Law and Rules of New York.

 

6.3       Deposit
Collateral. The Borrower hereby grants to the Bank a continuing lien and security interest in any and all deposits or other
sums at any time credited by or due from the Bank or any Bank Affiliate to the Borrower and any cash, securities, instruments
or other property of the Borrower in the possession of the Bank or any Bank Affiliate, whether for safekeeping or otherwise, or
in transit to or from the Bank or any Bank Affiliate (regardless of the reason the Bank or Bank Affiliate had received the same
or whether the Bank or Bank Affiliate has conditionally released the same) as security for the full and punctual payment and performance
of all of the liabilities and obligations of the Borrower to the Bank or any Bank Affiliate and such deposits and other sums may
be applied or set off against such liabilities and obligations of the Borrower to the Bank or any Bank Affiliate at any time,
whether or not such are then due, whether or not demand has been made and whether or not other collateral is then available to
the Bank or any Bank Affiliate.

 

6.4       Indemnification.
The Borrower shall indemnify, defend and hold the Bank and any Bank Affiliate and their directors, officers, employees, agents
and attorneys (each an “Indemnitee”) harmless of and from any claim brought or threatened against any Indemnitee by
the Borrower, any guarantor or endorser of the Obligations, or any other person (as well as from reasonable attorneys’ fees
and expenses in connection therewith) on account of the Bank’s relationship with the Borrower, or any guarantor or endorser
of the Obligations (each of which may be defended, compromised, settled or pursued by the Bank with counsel of the Bank’s
election, but at the expense of the Borrower), except for any claim arising out of the gross negligence or willful misconduct
of the Bank. The within indemnification shall survive payment of the Obligations, and/or any termination, release or discharge
executed by the Bank in favor of the Borrower.

 

6.5       Costs
and Expenses. The Borrower shall pay to the Bank on demand any and all costs and expenses (including, without limitation,
reasonable attorneys’ fees and disbursements, court costs, litigation and other expenses) incurred or paid by the Bank in
establishing, maintaining, protecting or enforcing any of the Bank’s rights or the Obligations, including, without limitation,
any and all such costs and expenses incurred or paid by the Bank in defending the Bank’s security interest in, title or
right to any collateral or in collecting or attempting to collect or enforcing or attempting to enforce payment of any Obligation.

 

6.6       Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which shall constitute
but one agreement.

 

6.7       Severability.
If any provision of this Agreement or portion of such provision or the application thereof to any person or circumstance shall
to any extent be held invalid or unenforceable, the remainder of this Agreement (or the remainder of such provision) and the application
thereof to other persons or circumstances shall not be affected thereby.

 

6.8       Complete
Agreement. This Agreement and the other Loan Documents constitute the entire agreement and understanding between and among
the parties hereto relating to the subject matter hereof, and supersedes all prior proposals, negotiations, agreements and understandings
among the parties hereto with respect to such subject matter.

 

    	 	10	 

     

    

 

6.9       Binding
Effect of Agreement. This Agreement shall be binding upon and inure to the benefit of the respective heirs, executors, administrators,
legal representatives, successors and assigns of the parties hereto, and shall remain in full force and effect (and the Bank shall
be entitled to rely thereon) until released in writing by the Bank. The Bank may transfer and assign this Agreement and deliver
it to the assignee, who shall thereupon have all of the rights of the Bank; and the Bank shall then be relieved and discharged
of any responsibility or liability with respect to this Agreement. The Borrower may not assign or transfer any of its rights or
obligations under this Agreement. Except as expressly provided herein or in the other Loan Documents, nothing, expressed or implied,
is intended to confer upon any party, other than the parties hereto, any rights, remedies, obligations or liabilities under or
by reason of this Agreement or the other Loan Documents.

 

6.10       Further
Assurances. Borrower will from time to time execute and deliver to Bank such documents, and take or cause to be taken, all
such other or further action, as Bank may request in order to effect and confirm or vest more securely in Bank all rights contemplated
by this Agreement and the other Loan Documents (including, without limitation, to correct clerical errors) or to comply with applicable
statute or law.

 

6.11       Amendments
and Waivers. This Agreement may be amended and Borrower may take any action herein prohibited, or omit to perform any act
herein required to be performed by it, if Borrower shall obtain the Bank’s prior written consent to each such amendment,
action or omission to act. No course of dealing and no delay or omission on the part of Bank in exercising any right hereunder
shall operate as a waiver of such right or any other right and waiver on any one or more occasions shall not be construed as a
bar to or waiver of any right or remedy of Bank on any future occasion.

 

6.12       Terms
of Agreement. This Agreement shall continue in full force and effect so long as any Obligations or obligation of Borrower
to Bank shall be outstanding, or the Bank shall have any obligation to extend any financial accommodation hereunder, and is supplementary
to each and every other agreement between Borrower and Bank and shall not be so construed as to limit or otherwise derogate from
any of the rights or remedies of Bank or any of the liabilities, obligations or undertakings of Borrower under any such agreement,
nor shall any contemporaneous or subsequent agreement between Borrower and the Bank be construed to limit or otherwise derogate
from any of the rights or remedies of Bank or any of the liabilities, obligations or undertakings of Borrower hereunder, unless
such other agreement specifically refers to this Agreement and expressly so provides.

 

6.13       Notices.
Any notices under or pursuant to this Agreement shall be deemed duly received and effective if delivered in hand to any officer
or agent of the Borrower or Bank, or if mailed by registered or certified mail, return receipt requested, addressed to the Borrower
or Bank at the address set forth in this Agreement or as any party may from time to time designate by written notice to the other
party.

 

6.14       Governing
Law. This Agreement shall be governed by federal law applicable to the Bank and, to the extent not preempted by federal law,
the laws of the State of New York.

 

6.15       Reproductions.
This Agreement and all documents which have been or may be hereinafter furnished by Borrower to the Bank may be reproduced by
the Bank by any photographic, photostatic, microfilm, xerographic or similar process, and any such reproduction shall be admissible
in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and
whether or not such reproduction was made in the regular course of business).

 

6.16       Jurisdiction
and Venue. Borrower irrevocably submits to the nonexclusive jurisdiction of any Federal or state court sitting in New York,
over any suit, action or proceeding arising out of or relating to this Agreement. Borrower irrevocably waives, to the fullest
extent it may effectively do so under applicable law, any objection it may now or hereafter have to the laying of the venue of
any such suit, action or proceeding brought in any such court and any claim that the same has been brought in an inconvenient
forum. Borrower hereby consents to any and all process which may be served in any such suit, action or proceeding, (i) by mailing
a copy thereof by registered and certified mail, postage prepaid, return receipt requested, to the Borrower’s address shown
in this Agreement or as notified to the Bank and (ii) by serving the same upon the Borrower in any other manner otherwise permitted
by law, and agrees that such service shall in every respect be deemed effective service upon Borrower.

 

    	 	11	 

     

    

 

6.17       JURY
WAIVER. THE BORROWER AND BANK EACH HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY, AND AFTER AN OPPORTUNITY TO CONSULT WITH
LEGAL COUNSEL, (A) WAIVE ANY AND ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING IN CONNECTION WITH THIS AGREEMENT,
THE OBLIGATIONS, ALL MATTERS CONTEMPLATED HEREBY AND DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND (B) AGREE NOT TO SEEK TO CONSOLIDATE
ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE, OR HAS NOT BEEN, WAIVED. THE BORROWER CERTIFIES THAT NEITHER
THE BANK NOR ANY OF ITS REPRESENTATIVES, AGENTS OR COUNSEL HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE BANK WOULD NOT IN
THE EVENT OF ANY SUCH PROCEEDING SEEK TO ENFORCE THIS WAIVER OF RIGHT TO TRIAL BY JURY.

 

Executed
as of  December 1, 2017.

 

	 	Borrower:
	 	Plastic
    Printing Professionals, Inc.
	 	 	 
	 	By: 	
	 	 	Philip
    Jones, Treasurer

 

Accepted:
Citizens Bank, N.A.

 

	By:
    	   	 
	Name: 
    	Douglas
    Dandurand	 
	Title:
    	Vice
    President	 

 

    	 	12

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