Document:

Exhibit 10.42

 

AMENDMENT NO. 1 TO 

PATENT AND TECHNOLOGY LICENSE AGREEMENT

 

This Amendment No.
1 dated effective July 12, 2015 (the “Effective Date”)amends the Patent and Technology License Agreement (“Agreement”),
effective as of the 12th day of July, 2012 by and between Quick-Med Technologies, Inc., a Nevada corporation
having offices at 902 NW 4 Street, Gainesville, Florida 32601 and Derma Sciences, Inc., a Delaware corporation having offices
at 214 Carnegie Center, Suite 300, Princeton, New Jersey 08540 (each singularly a “Party” and collectively
the “Parties”).

 

WHEREAS, the parties
desire to amend the Agreement as set forth below;

 

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

 

1.Amendment.
Section 1.12 (Definitions; “Field”), is hereby amended to read in its entirety as follows:

 

“Field”
means Traditional Wound Care Products sold to the institutional market and the OTC/retail market, and products sold to the veterinary
and dental institutional market except for (i) mouth cotton and (ii) the Biosara 100% rayon products for sale to the sport medicine
and institutional market.  

 

2.Full
Force and Effect. Except for the terms and conditions expressly modified above, all other terms and conditions of the
Agreement shall remain unmodified and in full force and effect. 

 

IN WITNESS WHEREOF,
the Parties have caused this Amendment No. 1 to be executed by their duly authorized representatives as of the date first written
above.

 

	 	DERMA SCIENCES, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Edward J. Quilty	 
	 	 	Edward J. Quilty	 
	 	 	President and Chief Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	QUICK-MED TECHNOLOGIES, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Bernd Liesenfeld	 
	 	 	Bernd Liesenfeld	 
	 	 	President	 

 

    	 	 -1-Exhibit 10.15

 

SECOND
AMENDMENT TO

SECOND AMENDED AND RESTATED LOAN AGREEMENT

 

This Second Amendment
to Second Amended and Restated Loan Agreement (the “Amendment”) is made and entered into as of March 11, 2016
by and among Black Diamond, Inc., a Delaware corporation, Black Diamond Equipment, Ltd., a Delaware corporation, Black Diamond
Retail, Inc., a Delaware corporation, Everest/Sapphire Acquisition, LLC, a Delaware limited liability company, BD North American
Holdings, LLC, a Delaware limited liability company, PIEPS Service, LLC, a Delaware limited liability company, and BD European
Holdings, LLC, a Delaware limited liability company (collectively, the “Borrowers”), and ZB, N.A. dba Zions
First National Bank (the “Lender”).

 

Recitals

 

1.Lender has previously
extended a loan to the Borrowers consisting of a revolving loan in the maximum principal amount of $30,000,000 (the “Loan”),
which is governed by that certain Second Amended and Restated Loan Agreement dated as of October 31, 2014 among the Borrowers,
the other Loan Parties from time to time party thereto and the Lender, as amended by that certain First Amendment to Second Amended
and Restated Credit Agreement dated November 9, 2015 among the Borrowers and the Lender (as amended from time to time, the “Loan
Agreement”). The Loan is evidenced by that certain Second Amended and Restated Promissory Note (Revolving Loan) dated
October 31, 2014 executed by the Borrowers in favor of the Lender in the maximum principal amount of $30,000,000 (the “Note”).

 

2.The Borrowers
and the Lender desire to modify and amend the Loan Agreement as provided herein.

 

Amendment

 

For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Lender and the Borrowers hereby agree and amend
and modify the Loan Agreement as follows:

 

1.Recitals.
Each of the Borrowers and the Lender hereby acknowledges the accuracy of the Recitals, which are incorporated herein by reference.

 

2.Definitions.
Except as otherwise provided herein, terms defined in the Loan Agreement shall have the same meaning when used herein. Terms defined
in the singular shall have the same meaning when used in the plural and vice versa.

 

3.Amendment
of Loan Agreement. The Loan Agreement is hereby modified and amended as follows:

 

(a)Amended
Definition. Section 1.1 Definitions of the Loan Agreement is hereby amended by amending and restating the following
definition its entirety:

 

“Lender”
means ZB, N.A. dba Zions First National Bank, its successors, and assigns.

 

    	 	1	 

     

    

 

 

 

 

(b)Net
Worth. Section 6.14(b) Net Worth is hereby amended and restated in its entirety to read as follows:

 

b.Net
Worth. Black Diamond and its Subsidiaries, on a Consolidated basis, will maintain a Net Worth, measured at each reporting period
set forth in Section 6.7 Financial Statements and Reports, of not less than $140,000,000 through the Fiscal Year End for
2015, plus an increase of $2,000,000 during each Fiscal Year thereafter.

 

4.Conditions
Precedent to Closing this Amendment. This Amendment shall not become effective until the following conditions have been completed
and proof of their completion has been provided to the Lender:

 

(a)On
or prior to the execution and delivery of this Amendment, the Borrowers shall have executed and delivered, or caused to be executed
and delivered, to the Lender, each in form and substance satisfactory to the Lender, such other documents, instruments, resolutions,
subordinations, and other agreements as the Lender may require in its sole discretion, including, without limitation, the documents
set forth on Schedule 1 hereto.

 

(b)Each
of the Borrowers shall perform all of the obligations of such Borrower under the Loan Documents or this Amendment to be performed
contemporaneously with the execution and delivery of this Amendment.

 

(c)The
Borrowers shall pay the Lender an amendment fee in the amount of $20,000 in cash. No portion of such fee shall be refunded in the
event of early termination of the Loan Documents or any termination or reduction of the right of the Borrowers to request advances
under the Loan Documents. The Lender is authorized and directed to disburse a sufficient amount of the Loan proceeds to pay this
amendment fee in full.

 

(d)The
Borrowers shall pay all fees and expenses in accordance with Section 6.

 

All conditions precedent
set forth in this Amendment are for the sole benefit of the Lender and may be waived unilaterally by the Lender.

 

5.Conforming
Modifications. Each of the Loan Documents is modified to be consistent herewith and to provide that it shall be a default or
an Event of Default thereunder if the Borrowers shall fail to comply with any of the covenants of the Borrowers herein or if any
representation or warranty by the Borrowers herein is materially incomplete, incorrect, or misleading as of the date hereof.

 

    	 	2	 

     

    

 

 

 

 

6.Fees and Expenses;
Closing Fee

 

(a)Fees
and Expenses. In consideration of the Lender’s agreement to amend and modify the Loan and the Loan Documents, each of
the Borrowers has agreed to pay to the Lender (i) all reasonable legal fees and expenses incurred by the Lender in connection herewith
or with the Loan and the Loan Documents accrued and unpaid as of the date hereof and (ii) all other reasonable costs and expenses
incurred by the Lender in connection with this Amendment.

 

(b)Method
of Payment. The foregoing fees and expenses shall be paid by the Borrowers to the Lender on the date hereof or at such later
date as such fees, costs and expenses are incurred by the Lender; provided, however, that if such fees and expenses are not promptly
paid, the Lender is authorized and directed, upon execution of this Amendment and fulfillment of all conditions precedent hereunder,
to disburse a sufficient amount of the Loan to pay these fees and expenses in full. Each of the Borrowers acknowledges and agrees
that such fees, costs, and expenses are fully earned and nonrefundable as of the date this Amendment is executed and delivered
by the parties hereto, and that no portion of such fee shall be refunded in the event of early termination of the Loan Agreement
or any termination or reduction of the right of any Borrower to request advances under the Loan Agreement or the Note.

 

7.Borrowers
Representations and Warranties. Each of the Borrowers hereby affirms and again makes the representations and warranties set
forth in Section 5 of the Loan Agreement as of the date of this Amendment, except to the extent that any such representations and
warranties refer specifically to an earlier date.

 

8.Borrowers
Covenants

 

(a)The
Borrowers shall execute, deliver, and provide to the Lender such additional agreements, documents, and instruments as reasonably
required by the Lender to effectuate the intent of this Amendment.

 

(b)Each
of the Borrowers fully, finally, and forever releases and discharges the Lender and its successors, assigns, directors, officers,
employees, agents, and representatives from any and all actions, causes of action, claims, debts, demands, liabilities, obligations,
and suits, of whatever kind or nature, in law or equity, that such Borrower has or in the future may have, whether known or unknown,
in respect of the Loan, the Loan Documents, or the actions or omissions of the Lender in respect of the Loan or the Loan Documents
arising from events occurring prior to the date of this Amendment.

 

9.Loan Documents
Remain in Full Force and Effect; Collateral. The Loan Documents are ratified and affirmed by each of the Borrowers and shall
remain in full force and effect as modified hereby. Any property rights or rights to or interests in property granted as security
in the Loan Documents shall remain as security for the Loan and the obligations of the Borrowers in the Loan Documents.

 

    	 	3	 

     

    

 

 

 

 

10.Integrated
Agreement; Amendment. This Amendment, together with the Loan Agreement and the other Loan Documents, constitutes the entire
agreement between the Lender and the Borrowers concerning the subject matter hereof, and may not be altered or amended except by
written agreement signed by Lender. PURSUANT TO UTAH CODE SECTION 25-5-4, EACH BORROWER IS NOTIFIED THAT THESE AGREEMENTS
ARE A FINAL EXPRESSION OF THE AGREEMENT BETWEEN THE LENDER AND THE BORROWERS AND THESE AGREEMENTS MAY NOT BE CONTRADICTED BY EVIDENCE
OF ANY ALLEGED ORAL AGREEMENT.

 

11.Governing
Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS (WITHOUT REGARD TO THE CONFLICT OF
LAWS PROVISIONS) OF THE STATE OF UTAH.

 

12.Time.
Time is of the essence with respect to this Amendment.

 

13.Counterpart
Execution. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and all of
which together shall constitute one and the same document. Signature pages may be detached from the counterparts and attached to
a single copy of this Amendment to physically form one document. Receipt by the Lender of an executed copy of this Amendment by
facsimile or electronic mail shall constitute conclusive evidence of execution and delivery of this Amendment by the signatory
thereto.

 

All other prior and
contemporaneous agreements, arrangements, and understandings between the parties hereto as to the subject matter hereof are, except
as otherwise expressly provided herein, rescinded.

 

This Amendment and
the Loan Agreement (together with any other amendment thereto) shall be read and interpreted together as one agreement.

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF,
this Amendment has been executed and becomes effective as of the date first written above.

 

Lender:

 

ZB, N.A. dba Zions First National Bank

 

 

By:/s/ Michael R. Brough

Name: Michael R. Brough

Title: Senior Vice President

 

Borrowers:

 

Black Diamond, Inc.

 

 

By: /s/ Aaron J. Kuehne

Name: Aaron J. Kuehne

Title: Chief Financial Officer, Secretary

and Treasurer

 

Black Diamond Equipment, Ltd.

 

 

By: /s/ Aaron J. Kuehne

Name: Aaron J. Kuehne

Title: Chief Financial Officer and Secretary

 

Black Diamond Retail, Inc.

 

 

By: /s/ Aaron J. Kuehne

Name: Aaron J. Kuehne

Title: Chief Financial Officer and Secretary

 

Everest/Sapphire Acquisition, LLC

 

 

By: /s/ Aaron J. Kuehne

Name: Aaron J. Kuehne

Title: Secretary and Treasurer

 

    
SECOND AMENDMENT TO SECOND AMENDED AND RESTATED
LOAN AGREEMENT
Signature Pages

     

    

 

 

BD North American Holdings, LLC

 

 

By: /s/ Aaron J. Kuehne

Name: Aaron J. Kuehne

Title: Treasurer

 

PIEPS Service, LLC

 

 

By: /s/ Aaron J. Kuehne

Name: Aaron J. Kuehne

Title: Secretary and Treasurer

 

BD European Holdings, LLC

 

 

By: /s/ Aaron J. Kuehne

Name: Aaron J. Kuehne

Title: Secretary and Treasurer

 

 

 

 

    
SECOND AMENDMENT TO SECOND AMENDED AND RESTATED
LOAN AGREEMENT
Signature Pages

     

    

 

SCHEDULE 1

 

Second Amendment 

Documentation List

 

		1.	Second Amendment to Second Amended and Restated Loan Agreement

 

		2.	Disbursement Instructions

 

		3.	Secretary’s Certificate

 

		a.	Black Diamond, Inc.

 

		b.	Black Diamond Equipment, Ltd.

 

		c.	Black Diamond Retail, Inc.

 

		d.	Everest/Sapphire Acquisition, LLC

 

		e.	BD North American Holdings, LLC

 

		f.	PIEPS Service, LLC

 

		g.	BD European Holdings, LLC

 

		4.	Form W-9

 

		a.	Black Diamond, Inc.

 

		b.	Black Diamond Equipment, Ltd.

 

		c.	Black Diamond Retail, Inc.

 

		d.	Everest/Sapphire Acquisition, LLC

 

		e.	BD North American Holdings, LLC

 

		f.	PIEPS Service, LLC

 

		g.	BD European Holdings, LLC

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