Document:

Exhibit 10.6

 

SCHEDULE IV

 

MANUFACTURING AGREEMENT

 

This Manufacturing Agreement ("Agreement") is made
as of 6 December 2012 ("Effective Date") between Mack Molding Company, a Vermont corporation having a mailing address
at Warm Brook Road, Arlington, VT 05250 ("Mack") and Leveraged Developments LLC, a New Hampshire limited liability company
having a mailing address at103 Winnicutt Rd., P.O. Box 267, Stratham, N.H. 03885-0267 ("LD"). Mack and LD agree that
the following terms and conditions will govern the purchase by LD of certain products manufactured and/or assembled by Mack and
its Affiliates for or on behalf of LD. All Attachments referenced in this Agreement are an integral part of this Agreement. For
the purpose of this Agreement, an "Affiliate" shall mean any entity controlled by, under common control with, or controlling
Mack, where "control", and its derivatives, shall mean the ability to make management decisions for or on behalf of such
entity as a result of the ownership of a majority equity interest in such entity, the ability to appoint or remove management,
the existence of a management contract or other management vehicle.

 

Section 1           Scope of Work

 

1.1           This
Agreement is a contract for the exclusive manufacture of products described in Attachment A ("Products"), except as otherwise
provided herein. LD hereby grants to Mack for the entire term of this Agreement an irrevocable, exclusive, world-wide right and
license under all intellectual property owned by LD in or related to the Products, including but not limited to all patent, copyrights,
trademarks and trade secrets, to manufacture the Products. For the avoidance of doubt, LD will not manufacture the Products by
itself or purchase the Products from any other source except as provided in this Agreement. The aforesaid license shall include
the right of Affiliates to manufacture the Products, or any of them, with the approval of Mack. The terms of this Agreement shall
also apply to Affiliates to the extent an Affiliate manufactures and/or assembles Products for or on behalf of LD, and accordingly,
where the context so permits herein, "Mack" shall also mean "Affiliate.” Any license granted by LD for the
sale of the Products by third parties, whether or not affiliated with LD, shall be subject to this Agreement and the exclusive
license granted herein.

 

1,2           Notwithstanding the provisions of Section 1.1, LD will
have the absolute right, during the term of this Agreement, and for any reason whatsoever, to have third parties manufacture one
or more of the Products in any quantity” upon a monthly payment to Mack by LD of an amount equal to $0.07 per Disposable
Pump Set, $16.00 per Pump Assembly, and for the other Products an amount equal to 20% of the then current Mack sales price for
each unit of the specific Product, produced by such third party during such month for the term of this Agreement ("Manufacturing
Fee").

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 2

 

1.3           LD
shall be responsible for Product design and shall provide Mack with applicable product specifications as mutually agreed upon
by the parties in writing, including labeling (the "Product Specifications"), as well as any Engineering Change Orders
("ECO") impacting product design and Product Specifications. LD shall also be responsible for obtaining all Food and
Drug Administration of the United States of America ("FDA") and safety agency approvals that are required to
market the Products. LD shall provide Mack a list of approved suppliers and vendors ("AVL") which may be amended
from time to time by a writing signed by both Parties, and shall work with Mack to approve additional suppliers and vendors as
may be proposed by Mack. Product changes are to be implemented only through the ECO process originated by either Party and approved
by both Parties as required according to the Device Master Record Index. Any change to a document listed in the Device Master
Record Index that requires mutual approval of both Mack and LD cannot be implemented until both Parties have approved in writing
ihe proposed change. The approval may also be in the form of Electronic Signature according to 21 CFR Part 11.

 

1.4           Mack
shall perform. all actions necessary to ensure that the Products are manufactured in accordance with all Product Specifications,
current Good Manufacturing Practices ("GMP") and all applicable regulatory and quality standards including, without limitation,
the Food, Drug and Cosmetic Act, the Medical Device Amendments of 1976, the Safe Medical Devices Act of 1990, FDA 21 CFR, Part
820, Quality System Regulation ("QSR"), 1996 ISO 9000 Guidelines and similar foreign laws, rules and regulations, including
without limitation, the European Medical Device Directive. Mack shall manufacture the Products to no less than the quality standards
of its other customers. Mack shall register with the FDA as a medical device manufacturer, provide LD with documentation necessary
to establish the Product's compliance with all applicable QSR and FDA regulations and maintain the manufacturing portion of the
Device Master Record ("DMR") and Device History Record ("DHR") in compliance with QSR requirements. Mack shall
make the DMR and DHR accessible to LD or any applicable government agency upon request. Mack shall maintain its ISO 9000 certification
and all necessary medical device manufacturer registration(s) including its registration with the FDA throughout the term of this
Agreement. Mack shall not make any changes to, or deviate from, any Product Specifications (including the DMR), labeling instructions,
or AVL except upon prior written approval of LD. Mack shall be responsible for all costs of implementing its production of Products
and actual production of Products, including the parts, material, labor and overhead to be utilized in production and excluding
tooling and special assembly and test equipment. Mack shall use all reasonable efforts to manufacture in a timely manner and sell
to LD, in accordance with all Product Specifications and in compliance with all FDA and other regulations and applicable laws,
all Products LD shall order under the terms of this Agreement. Mack's name shall not appear on Products or literature.

 

1.5           LD
shall be primarily responsible for handling customer complaints and government inquires regarding the safety and/or efficacy of
the Products. Mack shall support LD in a timely manner in the analysis of, and response to, customer complaints and government
inquiries regarding the Products. LD shall have the right to review manufacturing related causes for liability. Both LD and Mack
shall, within five (5) business days, advise the other Party of any safety-related problem of which either Party becomes aware
regarding the Products, and shall cooperate and implement any engineering change at LD's expense that must be implemented for
safety reasons, as soon as possible after discovery of a safety-related problem. The Parties shall cooperate in the implementation
of safety changes in Products that have already been produced and/or shipped, at LD's expense. The Parties agree to cooperate
fully with each other in effecting any recall of, or corrective action with respect to, the
Products, including communications with any purchasers or users, at LD's expense.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 3

 

1.6           LD
and Mack shall maintain complete and accurate records, for such periods as may be required by applicable law, of all the Products
sold and manufactured under this Agreement.

 

Section 2           Forecasts
and Orders

 

2.1           LD
shall provide Mack with a twelve (12) month forecast estimating the number of Products, according to LD's market projections, that
LD anticipates it shall purchase from Mack during the upcoming twelve (12) month period. LD shall thereafter update the rolling
forecast on a monthly basis for the then-upcoming twelve-month period ("Current Rolling Forecast"). Mack shall use the
Current Rolling Forecast to procure materials and plan manufacturing capacity. LD shall purchase 100% of the Product requirements,
and Mack agrees to use all reasonable efforts to ship I 00% of the Product requirements, indicated in the first two (2) months
of any then Current Rolling Forecast. For the second two (2) months of any then Current Rolling Forecast, LD shall commit to purchase
a minimum of 70%, and Mack shall commit to use all reasonable efforts to supply up to a maximum 130%, of the forecasted amount
of Product. For the third two (2) months of any then Current Rolling Forecast, LD shall commit to purchase a minimum of
50%, and Mack shall commit to use all reasonable efforts to supply up to a maximum 150%, of the forecasted amount of Product. The
final six (6) months of any then Current Rolling Forecast shall be for planning purposes only. Purchase Orders spelling out specific
quantities, delivery dates and destinations shall be issued in accordance with this Agreement, and shall be incorporated into,
and be a material part of this Agreement All delivery schedules are by mutual agreement and subject to the capacity of available
Tooling. Mack will notify LD of the Tooling capacity limitations. Long lead time components will be covered by a separate authorization-to-buy
from LD.

 

2.2 The terms of this Agreement shall govern orders for Products.
Except as specifically provided in Section 2.1 above, pre-printed or other terms and conditions contained in LD's purchase orders
shall not apply unless agreed by Mack in writing.

 

2.3 Mack agrees to use all commercially reasonable efforts to
fill all Purchase Orders for Products placed by LD under this Agreement, if within the Current Rolling Forecast and purchase order
lead time as agreed upon by the parties, and to notify LD within five

(5) business days of receipt of an order of any anticipated
delays in filling orders.

 

Section 3           Prices

 

3.1           The
prices for the Products shall be determined in accordance with the Pricing Formula set forth in Attachment A.

 

3.2           The
prices set forth in Attachment A are net of all taxes, duties and other governmental charges, and LD will reimburse Mack for any
taxes imposed upon Mack in connection with this Agreement, except taxes based upon Mack's net income.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 4

 

3.3           Mack
shall cooperate with LD in making commercially reasonable efforts to reduce the costs of manufacturing the Products. To that end,
Mack shall use commercially reasonable efforts to identify opportunities for cost reductions, including process enhancements and
selection of alternative materials. Any opportunities for cost reductions, including process enhancements and selection of alternative
materials, and the associated expenditures to implement such cost reductions, shall require LD's review and written approval before
implementation. The benefits of any cost reductions developed by LD shall accrue solely to the account of LD after any cost of
implementation by Mack is deducted from the cost savings due LD. The benefits of any cost reductions developed by Mack shall accrue
50% to LD and 50% to Mack after any cost of development and implementation by Mack is deducted from the cost savings realized.

 

Section 4           Payment

 

Mack shall send LD an invoice after Mack ships Products to LD,
or otherwise incurs costs for which LD is responsible under this Agreement. Payment of all Mack invoices shall be due thirty (30)
days from the invoice date. LD shall pay to Mack all amounts due under each invoice, without deduction or offset, in United States
dollars delivered to Mack at the address stated on the invoice. Interest shall accrue on any payments not paid when due at the
rate of 1.5% per month. Payment terms for tooling and special equipment ordered from or through Mack are 50% with order, 25% on
delivery, and 25% on approval. Mack reserves the right to demand cash in advance or require other credit arrangements.

 

Section 5           Inspection, Delivery
and Risk of Loss

 

5.1           Before
delivering Products to LD, Mack will perform factory inspection and quality assurance tests on the Products as mutually agreed
from time to time in writing. If LD requests, Mack will, in LD's discretion, either certify that Mack has completed those tests
and that tested Products have passed such tests, or permit LD' s representatives to witness them to ensure that tested Products
have passed such tests. LD's acceptance of the Products will not waive any of LD's warranty rights under this Agreement.

 

5.2           Mack
will pack the Products for shipment and storage in accordance with LD's written packing instructions. Unless LD furnishes Mack
with special written instructions regarding shipment, Mack will choose the method of shipment and carrier to be used.

 

5.3           Mack
will use reasonable efforts to meet the delivery dates LD requests Mack will notify LD promptly when any delivery will be
delayed. Mack will not be liable to LD for any expense or damages LD may encounter as a result of the delay.

 

5.4           Delivery shall be accomplished, and title and risk of loss or damage will pass to
LD, ExWorks (INCOTERMS, 2000). Transportation will then be at LD's risk, and any loss or damage after delivery to the carrier
will be LD's responsibility and will not relieve LD of its payment obligations to Mack under this Agreement.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 5

 

Section 6           Mack's Warranty

 

6.1           Mack
represents and warrants that the Products manufactured and/or assembled for LD under this Agreement will be, at the time of delivery
to LD, free from any liens or other defects in title, will conform to the Product Specifications as defined in Section 1.4, and
will be free from material defects in workmanship under normal use and service. Mack will not, however, be responsible for, and
this warranty will not apply to, any defects in the Products arising out of LD's design or the use of materials or components that
LD furnished to Mack or directed Mack to use. Mack further represents and warrants that Mack will comply with all applicable laws,
including all international, federal, state, and local laws and regulations relating to the manufacture and/or assembly of the
Products. A claim under this warranty must be made by LD in writing within twelve (12) months from the date of delivery of the
applicable unit(s) of Product. Mack's sole obligation to LD and LD's exclusive remedy under this warranty is as follows:

 

		(a)	Mack shall, at LD's option, repair or replace without charge
to LD and in an expeditious manner, any unit of the defective
Products within the terms of this warranty if LD returns it, freight prepaid, to Mack. However, if repairing or replacing the
Product is impractical due to that Product model being out of production, Mack shall first elect to accept return of the unit
and replace the unit with a newer model, if so agreed by LD or, if not so agreed by LD, refund to LD the purchase price LD paid
for it. Repaired or replaced Product shall carry this same warranty
for the balance of the warranty period.

 

		(b)	Mack will not be required to
ship replacement Products until Mack has confirmed through prompt examination that the returned unit(s) is defective within
the terms of this warranty. Mack will pay freight costs to ship any repaired or replacement unit(s) to LD. If
Mack is unable to repair or replace the returned unit(s)
within a reasonable time, then LD will be entitled to the refund of its purchase price for that unit(s).

 

		(c)	This warranty does not apply to any defect attributed to
purchased components specified by LD, or to any unit(s) of Product which Mack determines has been subjected by a party other than
Mack to (i) operating or environmental conditions beyond those normally expected for the Product based upon the materials specified;
or (ii) improper application, improper maintenance or repair, improper installation, alteration, accident or any other
negligent act or omission in use or handling.

 

		(d)	Units of Products returned
to Mack which Mack determines are not defective within the terms of this warranty will be returned to
LD, and LD will reimburse Mack upon invoice for return transportation charges and Mack's normal hourly charge applicable
to inspection of the unit.

 

		(e)	Purchased components of the
Products specified by LD are warranted only to the extent, and subject to the terms of the original warranty given by the manufacturer
to Mack Mack's sole obligation with respect to such components shall be, at LD's expense, to prosecute on behalf of LD all warranty
claims against such component manufacturers upon receipt of written authorization of LD.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 6

 

6.2           This
Section 6 sets forth Mack's only warranties for the Products. Mack expressly disclaims all other warranties, guarantees or remedies,
whether express, implied or statutory, including any implied warranty of merchantability or fitness for a particular purpose. Mack
also disclaims any implied warranty arising out of trade usage or out of a course of dealing or previous course of performance.

 

6.3           LD's
exclusive remedies with respect to Mack's performance or non-performance under this Agreement are those expressly stated in this
Section 6. Under no circumstances will Mack be liable for reprocurement costs, lost revenues or profits, or for any indirect, special,
incidental, economic or consequential damages. Mack will not be liable for any damages claimed by LD based upon any third party
claim.

 

6.4           Mack's
total liability to LD for damages under this Agreement will not exceed the total price LO paid Mack for the Products at issue in
LD's claim. This limitation will apply regardless of the form of the action (i.e. whether the lawsuit is in contract or in tort,
including negligence).

 

Section 7           LD's Warranty

 

7.1           LD
hereby represents and warrants that it has full right and authority to perform its obligations and grant the rights and licenses
herein granted, and that it has neither assigned nor otherwise entered into any agreement by which it purports to assign or transfer
any interest in any intellectual property right that would conflict with its obligations under this Agreement, and will not do
so during the term of this Agreement. LD specifically represents and warrants that no other entity has any right to manufacture
or assemble the Products that would conflict with the terms of this Agreement. LD further represents and warrants that (i) there
is currently no actual or threatened litigation by any third party based on any alleged violation of any copyright, patent, trademark,
trade secret or other intellectual property rights with respect to the intellectual property licensed in
Section I .I that could reasonably be expected to affect Mack's use of such intellectual property; (ii) Mack's exercise
of the license rights granted in Section I.I
and Mack's manufacture of the Products does not and will not infringe or violate the copyright, patent, trademark, trade secret
or other intellectual property rights or contract rights of any third party.

 

7.2           LD
shall indemnify and hold Mack harmless from any claim, loss, and expense arising out of LD's breach of Section 7.1 above.

 

8.            Product
Liability, Indemnity and Insurance

 

8.1          LD will be solely responsible for all third party liability allegations or claims related to the
design, specifications, manufacture, assembly, use, functionality, and safety of the Products manufactured and/or assembled by
Mack hereunder. In this regard, LD will defend Mack from any and all such claims, and indemnify and hold Mack harmless
from all judgments or awards, and any related costs (including attorneys' fees and other expenses associated with litigation or
dispute resolution proceedings) arising out of such claims.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 7

 

8.2           LD
shall at its own costs and expense within four (4) weeks following signature of this Agreement take out and maintain during the
term of this Agreement and for three years thereafter, with an insurance company or companies rated no less than "A"
by A.M. Best, a product liability insurance policy covering the Products and their use with a coverage limit of no less than Ten
Million Dollars ($10,000,000) for each individual occurrence and naming Mack and its Affiliates as additional insureds. Such insurance
policy shall be primary insurance and shall not be cancelable without at least thirty (30) days prior notice to Mack. LD shall
furnish to Mack a certificate of insurance coverage at any time upon request. If
LD is unable to name Mack as an additional insured, or is unable to purchase insurance that permits LD to indemnify Mack
from third party claims for damages as provided for in this Agreement, LD will reimburse Mack for the extra cost to carry equivalent
insurance.

 

Section 9           Tooling and Capital
Equipment

 

Molds, dies, automated assembly, test and any other equipment
required to manufacture and/or assemble the Products (hereinafter collectively called "Tooling") shall be owned and paid
for by LD. Mack shall use the Tooling solely to produce and supply the Products hereunder.

 

Section 10         Intellectual Property
Indemnity

 

10.1         At
LD's expense, LD will defend, indemnify and hold Mack harmless from any allegation or claim that (a) the design of any of the Products,
(b) any engineering or manufacturing processes LD directs Mack to use or (c) any materials, components or trademarks directed by
LD to be used in or with the Products, infringes any third party patent, copyright, trademark trade secret or any other intellectual
property right. LD will pay all costs and expenses, including reasonable attorneys' fees, and any settlement or damages awarded
against which arise out of any such claim. Mack will give LD prompt notice of any such claim after Mack learns of it and will cooperate
with LD, at LD's expense, in the defense of the claim. LD will have sole control over the defense and settlement of a claim, provided
it undertakes such defense promptly upon notice of the claim and carries out such defense with due diligence. Notwithstanding the
foregoing, LD may not settle the claim in the name of Mack without Mack's prior written consent, which Mack will not unreasonably
withhold.

 

10.2         In
the event of an infringement claim described in Section I 0.1,
Mack may stop production of the applicable Products immediately pending adequate assurances from LD of LD's ability to meet the
on-going indemnity outlined in Section 10.1 above.

 

Section 11         Term/Renewal

 

This Agreement shall commence on the date signed by both parties,
and shall continue for 25 years unless terminated earlier in accordance with Section 12.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 8

 

Section 12         Termination

 

		12.l	Either party shall be in default of this Agreement if such party:

 

		(a)	substantially fails to perform any material provision of
this Agreement;

 

		(b)	assigns this Agreement, or any obligation or right under
this Agreement to a third party that is not an affiliate of such party (except as permitted in Section 18.5); or

 

		(c)	becomes insolvent or makes an assignment for the benefit
of creditors, or a receiver or similar officer is appointed to take charge of all or part of that party's assets.

 

In the event of a default, the non-defaulting party may terminate
the Agreement and any outstanding orders if the other party has failed to cure such default within thirty (30) calendar days after
its receipt of a written notice of default and intent to terminate. Notwithstanding the previous sentence, if a cure is not possible
within such thirty (30) days, and if the defaulting party diligently pursues a cure of such default during such thirty (30) day
period and thereafter, then the cure period shall extend up to a total of sixty (60)
calendar days.

 

		12.2	If Mack terminates this Agreement due to LD's default,
LD will:

 

		(a)	remove all unused vendor material that Mack has ordered
in anticipation of its performance under this Agreement and pay Mack's cost therefor;

 

		(b)	hold Mack harmless from all vendor commitments Mack has
made in anticipation of its performance under this Agreement;

 

		(c)	remove all conforming finished Product inventory manufactured
to LD orders and pay the price therefor;

 

		(d)	remove all work in process as of the date of termination
and pay Mack's cost therefor; and

 

		(e)	pay Mack all its other costs associated with its performance
prior to such termination, plus anticipated overhead expenses and profit allocated to the quantity of Products Mack would have
produced in accordance with LD's latest 12-month forecast.

 

		12.3	If LD terminates this Agreement due to Mack's default,
LD will:

 

		(a)	remove all unused vendor material that Mack has ordered
in reasonable anticipation of its performance under this Agreement and pay Mack's cost therefor;

 

		(b)	hold Mack harmless from all vendor commitments Mack has
made in anticipation of its performance under this Agreement;

 

		(c)	remove all conforming finished Product inventory manufactured
to LD orders and pay the price therefor; and

 

		(d)	remove all work in process as of the date of termination
and pay to Mack Mack's cost to produce the same.

 

		12.4	In addition to those provisions which by their nature are
intended to survive expiration or termination of this Agreement, Sections 1, 4, 6, 7, 8, I 0, 16, 17, and 18 shall survive any
such expiration or termination.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 9

 

		12.5	In the event this Agreement is terminated, for any reason,
all licenses granted hereunder shall terminate, and Mack shall immediately cease to use all intellectual property owned by LD
in or related to the Products. In addition, Mack shall immediately desist from all conduct or representations that imply or indicate
that Mack is an authorized manufacturer of the Product.

 

Section 13         Force Majeure

 

Neither party shall be liable for any delay or failure to perform
under this Agreement if the delay or failure is caused by acts of God or other causes beyond the reasonable control and without
fault or negligence of the delayed or failing party.

 

Section 14         Notices

 

Any notice required under this Agreement will be in writing
and will be hand delivered, or sent by prepaid registered or certified mail, postage prepaid, return receipt requested (if available),
or sent by facsimile and confirmed by such mail, addressed to the other party at the address shown at the beginning of this Agreement.
The notice address may be changed by proper notice as set forth above.

 

Section 15         Independent Contractors

 

Each party is an independent contractor and not an agent, joint
venturer, or representative of the other, and neither party may create any obligation or responsibility on behalf of, or in the
name of, the other.

 

Section 16         Compliance Requirements

 

Pursuant to the requirements of 42 CFR 420.300 et seq., Mack
agrees to make available to the Secretary of Health and Human Services ("HHS"), the Comptroller General of the Government
Accounting Office ("GAO") or their authorized representatives, all contracts, books, documents and records relating to
the nature and extent of costs hereunder for a period of four (4) years after the furnishing of Products or Services hereunder
for any and all Product furnished under this Agreement if applicable.

 

Section 17         General

 

17.l        This Agreement, the Promissory Note and the Loan and
Security Agreement, together with all referenced Attachments, constitutes the entire agreement between LD and Mack with respect
to Mack's manufacture and/or assembly of Products. It supersedes
any terms or conditions contained on printed forms submitted as part of a Purchase Order, sales acknowledgment or invoice. It
also supersedes all previous oral or written communications between LD and Mack regarding the manufacture and/or assembly
of Products or Molds. This Agreement may not be modified except by a written document signed by the party against whom enforcement
is sought. If any provision of this Agreement is held invalid,
all other provisions will remain valid, unless such invalidity would frustrate the purpose of this Agreement.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 10

 

17.2         Any
breach of the Promissory Note or Loan and security Agreement that is not cured within the applicable cure period constitutes a
breach of the Agreement.

 

17.3         Except
as otherwise expressly set forth in this Agreement, the remedies set forth in this Agreement shall be cumulative and in addition
to any other remedies available to the parties at law or in equity.

 

17,4         This Agreement will be governed by and construed in
accordance with the laws of the State of New Hampshire without regard to its conflict of laws rules. The parties specifically agree
that the United Nations Convention on the International Sale of Goods shall not apply to this Agreement.

 

17.5         The
parties agree that the exclusive jurisdiction and venue of any legal action arising out of this Agreement, including disputes that
may arise following termination of this Agreement, shall be the state or federal courts sitting within the State of New Hampshire,
and each party hereby submits itself to the exclusive jurisdiction and venue of those courts for the purposes of such action.

 

17.6         This
Agreement and the rights, duties and obligations under this Agreement may not be assigned in whole or in part by operation of law
or otherwise without the prior written consent of the other Party, except LD may assign the Agreement as part of the sale of the
majority of its business or assets or merger or similar transaction with notice to Mack. Any attempted prohibited assignment of
any rights, duties or obligations under this Agreement without such consent shall be null and void. This Agreement shall be binding
on each Party's respective successors and permitted assigns.

 

Section 18         Inventions

 

18.1         Title
(including all patent, copyrights and trade secrets) to all data, materials, inventions, information, enhancements, developments,
discoveries and improvements relating to the design and engineering of the Products ("LD Inventions") shall be owned
by LD. Mack hereby assigns
and agrees to assign to LD the entire right, title and interest in each LD Invention, agrees to obtain an assignment thereof from
each employee or agent involved and agrees to furnish and execute all such documents and provide such further assistance (at LD's
expense) as LD may reasonably require in order to perfect and maintain LD's rights in LD Inventions.

 

18.2         Title
(including all patent, copyrights and trade secrets) to all data, materials, inventions, information, enhancements, developments,
discoveries and improvements conceived by Mack relating to the manufacture of the Products ("Mack Inventions") shall
be owned by Mack. Upon termination or expiration of this Agreement, LD shall have the nonexclusive right to use and sublicense,
at no charge, such Mack Inventions solely for the purpose of manufacturing Products, or any derivative or later generation Products.

 

18.3         Any
new invention and discovery that occurs under this Agreement and that is not subject to the provisions of sections 18.1 and 18.2
above, shall be jointly owned by LD and Mack with all of the appertaining rights of both LD and Mack to make and use the jointly
owned invention or discovery. Either LD or Mack may pursue the establishment of formal patent or copyright protection with no change
to the other Party's right to make .and use the jointly owned invention or discovery. The licensing, to third parties, of such    ''
jointly owned inventions and discoveries shall be subject to the separate, written mutual agreement of LD and Mack.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 11

 

18:4         Upon termination or expiration of this Agreement, Mack
shall negotiate in good faith with LD on charges related to the transfer
to LD of Mack know-how, manufacturing process documentation, etc., related to the manufacture of Product and developed by Mack
solely at Mack's expense during the term of this Agreement.

 

	Mack Molding Company	 	Leveraged Developments LLC 
	 	 	 	 	 
	Signature: 	 	 	Signature:	/s/ Jeffrey A. Carlisle
	 	 	 	 	 
	 	 	 	 
	 	 	 	 
	Name:	 	 	Name: Jeffrey A. Carlisle
	 	 	 	 
	Title:	 	 	Title: Member
	 	 	 	 
	Date:	 	 	Date: 6 December 2012

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 12

 

Attachment A

 

Products and Pricing Formula

 

Products

 

All products related to the Device including but not limited
to succeeding generations of the Device.

 

Pricing Formula:

 

Unit Price equals the sum of Material Cost + Labor
Cost divided by the Gross Margin Factor,

 

where:

 

Material Cost is the sum of direct material
cost + incoming freight cost + scrap (2% of landed material cost) + material overhead (15% of the sum of the previous items);

 

Labor Cost is calculated at the following rates:

 

$55/man hour for assembly, testing, inspection, set-up
and utility labor

$55/man hour for 75 ton press time (automatic)

$63/man hour for 150 ton press time (automatic)

$76/man hour for 300 ton press time (automatic)

 

If operator is required at molding press, add $26/man
hour. Assumed yield is 95%.

 

If a clean room is required, add 20% to the labor
rate.

 

These labor rates will be adjusted each January 1
during the term of the Agreement by the annual change in the United States Consumer Price Index for all Urban Centers (CPI-U);

 

and

 

Gross Margin Factor is .85

 

Engineering and Tooling

 

Engineering Assistance (if requested by LD) will be charged
at $125/hour plus reasonable expenses (including travel). Tooling and special assembly and test equipment will carry a 20% markup
over installed costs to cover management and
engineering related to the tooling.

 

     

     

    

 

	Mack/Leveraged Developments Manufacturing Agreement	Page 13

 

Cassette Unit Price Calculation Example

 

	Material Cost:	 	 	 	 
	 	 	 	 	 
	.039 lbs. Zylan 94 @ $1.58/lb + 2% scrap + 15% mark-up =	 	$	.072	 
	I diaphragm @ $.23 + $.02 (freight) + 2% scrap + 15% mark-up =	 	$	.293	 
	I blue valve @ $.13 + $.01 (freight) + 2% scrap + 15% mark-up =	 	$	.164	 
	Iwhite valve @ $.13 + $.01 (freight) + 2% scrap + 15% mark-up =	 	$	.164	 
	Packaging @ $.02 + 2% scrap + 15% mark-up	 	$	.023	 
	 	 	 	 	 
	Total Material Cost =	 	$	.716	 
	 	 	 	 	 
	Labor Cost:	 	 	 	 
	 	 	 	 	 
	Housing –75 ton molding @ $50/hr, 4 cavities, 12 sec. cycle, 95% yield	 	$	.044	 
	Top – 75 ton molding @ $50/hr, 8 cavities, 12 sec. cycle, 95% yield	 	$	.021	 
	Bottom - 75 ton molding @ $50/hr, 8 cavities, 14 sec. cycle, 95% yield	 	$	.025	 
	Plunger - 75 ton molding @ $50/hr, 8 cavities, 10 sec. cycle, 95% yield	 	$	.018	 
	Cap - 75 ton molding @ $50/hr, 8 cavities, 10 sec. cycle, 95% yield	 	$	.018	 
	Assembly + testing — 600 per hour @ $55/hr	 	$	.091	 
	Inspection + utility – 1,000 per hour @ $55/hr	 	$	.055	 
	 	 	 	 	 
	Total Labor Cost =	 	$	.272	 
	 	 	 	 	 
	Unit Price = ($,716 + $,272) | ,85 = $1.162Exhibit
10.7

 

LOAN
AND SECURITY AGREEMENT

 

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

 

Preliminary
Statement. Borrower is in the process of developing improvements to intravenous pumps and associated disposables for use
with intravenous (IV) pumps, with potential for use in other IV applications, and requires working capital for further development
of its technology.

 

Lender
is willing to provide a loan of up to Six Hundred Thousand Dollars $600,000.00) (the “Loan”) subject to obtaining
a security interest in all of Borrower’s assets of the Borrower and agreement on future revenue participation payments,
as more particularly set forth below, and upon the other terms and conditions set forth herein.

 

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

 

1.           Loan;
Term; Disbursement; Security:

 

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

 

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

 

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

 

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

 

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

 

     

     

    

 

LEVERAGED DEVELOPMENT,
LLC - LOAN AND SECURITY AGREEMENT

 

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

 

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

 

c.           As
used herein:

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	2	 

     

    

 

leveraged
development, LLC - loan and security agreement

 

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

 

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

 

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

 

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

 

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

 

    	 	3	 

     

    

 

leveraged
development, LLC - loan and security agreement

 

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

 

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

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

 

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

 

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

 

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

 

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

 

    	 	4	 

     

    

 

leveraged
development, LLC - loan and security agreement

 

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

 

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

 

d.           Insurance:
Evidence of insurance as required below.

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	5	 

     

    

 

leveraged
development, LLC - loan and security agreement

  

f.            No
Pending Insolvency. Any borrowings made by Borrower subject to this Agreement do not and shall not render Borrower insolvent;
Borrower is not contemplating the filing of a petition under any state,
federal or provincial bankruptcy or insolvency laws or a petition for the liquidation of or to appoint a receiver for all or a
major portion of its property, nor does Borrower have any knowledge of any person contemplating the filing of any such petition
against Borrower or its assets.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	6	 

     

    

 

leveraged
development, LLC - loan and security agreement

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	7	 

     

    

 

leveraged
development, LLC - loan and security agreement

  

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

 

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

 

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

 

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

 

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

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

 

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

 

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

 

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

 

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

 

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

 

    	 	8	 

     

    

 

leveraged
development, LLC • loan and security agreement

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	9	 

     

    

 

leveraged
development, LLC - loan and security agreement

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	10	 

     

    

 

leveraged
development, LLC - loan and security agreement

 

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

 

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

 

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

 

16.         Expenses.
Borrower and Lender will each pay their respective expenses in
connection with this Agreement and the preparation of the initial Transaction Documents, including attorneys’ fees. Borrower
shall be responsible for and shall pay forthwith on demand any
and all reasonable expenses, including reasonable attorneys’ fees and recording costs, reasonably incurred by Lender in
connection with any subsequent amendment of the Transaction .

 

    	 	11	 

     

    

 

leveraged
development, LLC - loan and security agreement

 

Documents, any waiver of any
conditions of the Transaction Documents requested by Borrower, or enforcing any of Lender’s rights hereunder or under any
of the other Transaction Documents.

 

17.         Consent
to Jurisdiction; Waiver of Jury Trial. In the event that Lender brings any action or proceeding in connection herewith in
any court of record of New Hampshire, Borrower hereby irrevocably consents to and confers personal jurisdiction of such court
over Borrower by such court. In any such action or proceeding, Borrower hereby waives personal service of any summons, complaint,
or other process and agrees that service thereof may be made upon Borrower by mailing a copy
of such summons, complaint or other process by certified mail to Borrower at its address designated pursuant to the notice
provisions of this Agreement. Borrower hereby waives trial by jury in any
litigation in any court with respect to, in connection with, or arising out of this Agreement or any instrument or document
delivered in connection herewith, or the validity, protection, interpretation, collection or enforcement thereof, or any other
claim or dispute howsoever arising between Borrower and Lender.

 

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

 

[Signature
pages follow.]

 

    	 	12	 

     

    

 

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

 

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

 

     

     

    

 

leveraged
development, LLC • loan and security agreement

 

SCHEDULE
I

 

PATENTS,
PATENT APPLICATIONS

AND
PATENT LICENSES

 

	Code	 	Heading	 	Number

	 	 	 	 	 

 

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

This
schedule will be updated as intellectual property protections are filed, as described

in INTELLECTUAL PROPERTY AGREEMENT of 5 December 2012.

 

     

     

    

 

leveraged
development, LLC • loan and security agreement

  

SCHEDULE
II

 

TRADEMARKS.
TRADEMARK APPLICATIONS

AND
TRADEMARK LICENSES

 

	Title	Registration No.	Reg. Date 
	 	 	 

 

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

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

 

     

     

    

 

leveraged
development, LLC - loan and security agreement

  

SCHEDULE
III

 

DESCRIPTION
OF TECHNOLOGY

 

Refer
to the description of the Technology in

INTELLECTUAL
PROPERTY AGREEMENT of 5 December 2012.

 

     

     

    

 

leveraged
development, LLC – loan and security agreement

  

SCHEDULE
IV

 

MANUFACTURING
AGREEMENT

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