Document:

Exhibit 10.9

SIERRA MONITOR CORPORATION

 

2006 STOCK PLAN

 

RESTRICTED STOCK AGREEMENT

 

Unless otherwise defined
herein, the terms defined in the Sierra Monitor Corporation 2006 Stock Plan (the “Plan”) will have the same defined
meanings in this Restricted Stock Agreement (the “Agreement”), including the Notice of Restricted Stock Grant (the
“Notice of Grant”) and Terms and Conditions of Restricted Stock Grant, attached hereto as Exhibit A.

NOTICE OF RESTRICTED STOCK GRANT

 

	Participant Name:	 	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 

 

You have been granted
the right to receive an Award of Restricted Stock, subject to the terms and conditions of the Plan and this Agreement, as follows:

 

	Grant Number	 	 
	 	 	 
	Date of Grant	 	 
	 	 	 
	Vesting Commencement Date	 	 
	 	 	 
	Total Number of Shares Granted	 	 

 

Vesting Schedule:

 

Subject to any acceleration
provisions contained in the Plan or set forth below, the Restricted Stock will vest and the Company’s right to reacquire
the Restricted Stock will lapse in accordance with the following schedule:

 

[Insert vesting
schedule]

 

     

    	

    

 

By Participant’s
signature and the signature of the representative of Sierra Monitor Corporation (the “Company”) below, Participant
and the Company agree that this Award of Restricted Stock is granted under and governed by the terms and conditions of the Plan
and this Agreement, including exhibits hereto, all of which are made a part of this document. Participant has reviewed the Plan
and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement
and fully understands all provisions of the Plan and Agreement. Participant hereby agrees to accept as binding, conclusive and
final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Agreement. Participant
further agrees to notify the Company upon any change in the residence address indicated below.

 

	PARTICIPANT	 	SIERRA MONITOR CORPORATION
	 	 	 
	 	 	 
	Signature	 	 
	By	 	 
	 	 	 
	 	 	 
	Print Name	 	 
	Title	 	 

 

     

    	

    

 

EXHIBIT A

 

TERMS AND CONDITIONS OF RESTRICTED STOCK
GRANT

 

Grant
of Restricted Stock. The Company hereby grants to the Participant named in the Notice of Grant (the “Participant”)
under the Plan for past services and as a separate incentive in connection with his or her services and not in lieu of any salary
or other compensation for his or her services, an Award of Shares of Restricted Stock, subject to all of the terms and conditions
in this Agreement and the Plan, which is incorporated herein by reference. Subject to Section 19(c) of the Plan, in the event
of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the terms and conditions
of the Plan will prevail.

 

Escrow
of Shares.

 

All
Shares of Restricted Stock will, upon execution of this Agreement, be delivered and deposited with an escrow holder designated
by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such
time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider.

 

The
Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in
escrow while acting in good faith and in the exercise of its judgment.

 

Upon
Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such
termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company.
Participant hereby appoints the Escrow Holder with full power of substitution, as Participant’s true and lawful attorney-in-fact
with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and
instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing
such unvested Shares of Restricted Stock to the Company upon such termination.

 

The
Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they
vest following Participant’s request that the Escrow Holder do so.

 

Subject
to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow,
including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon.

 

In
the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization,
stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange
of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares,
the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will
in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of
stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares,
cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions
and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Agreement. If Participant receives
rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by
Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities
acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject
to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Agreement.
The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional
shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise
of such rights or warrants.

 

     

    	

    

 

The
Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted
Stock or otherwise note its records as to the restrictions on transfer set forth in this Agreement.

 

Vesting
Schedule. Except as provided in Section 4, and subject to Section 5, the Shares of Restricted Stock awarded by this Agreement
will vest in accordance with the vesting provisions set forth in the Notice of Grant. Shares of Restricted Stock scheduled to
vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of the
provisions of this Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the
date such vesting occurs.

 

Administrator
Discretion. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the
balance, of the unvested Restricted Stock at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock
will be considered as having vested as of the date specified by the Administrator.

 

Forfeiture
upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Agreement, the balance of
the Shares of Restricted Stock that have not vested as of the time of Participant’s termination as a Service Provider for
any or no reason will be forfeited and automatically transferred to and reacquired by the Company at no cost to the Company upon
the date of such termination and Participant will have no further rights thereunder. Participant will not be entitled to a refund
of the price paid for the Shares of Restricted Stock, if any, returned to the Company pursuant to this Section 5. Participant
hereby appoints the Escrow Agent with full power of substitution, as Participant’s true and lawful attorney-in-fact with
irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments,
including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such
unvested Shares to the Company upon such termination of service.

 

Death
of Participant. Any distribution or delivery to be made to Participant under this Agreement will, if Participant is then deceased,
be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor
of Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her status
as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with
any laws or regulations pertaining to said transfer.

 

Withholding
of Taxes. Notwithstanding any contrary provision of this Agreement, no certificate representing the Shares of Restricted Stock
may be released from the escrow established pursuant to Section 2, unless and until satisfactory arrangements (as determined
by the Administrator) will have been made by Participant with respect to the payment of income, employment, social insurance,
payroll and other taxes which the Company determines must be withheld with respect to such Shares. Prior to vesting of the Restricted
Stock, Participant will pay or make adequate arrangements satisfactory to the Company and/or the Participant’s employer
(the “Employer”) to satisfy all withholding and payment obligations of the Company and/or the Employer. In this regard,
Participant authorizes the Company and/or the Employer to withhold all applicable tax withholding obligations legally payable
by Participant from his or her wages or other cash compensation paid to Participant by the Company and/or the Employer or from
proceeds of the sale of Shares. Alternatively, or in addition, if permissible under applicable local law, the Administrator, in
its sole discretion and pursuant to such procedures as it may specify from time to time, may permit or require Participant to
satisfy such tax withholding obligation, in whole or in part (without limitation) by (a) paying cash, (b) electing to have the
Company withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum amount required to be withheld,
(c) delivering to the Company already vested and owned Shares having a Fair Market Value equal to the amount required to be withheld,
or (d) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the Company may determine
in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld. To the extent determined
appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any tax withholding obligations
by reducing the number of Shares otherwise deliverable to Participant and, until determined otherwise by the Company, this will
be the method by which such tax withholding obligations are satisfied. If Participant fails
to make satisfactory arrangements for the payment of any required tax withholding obligations hereunder at the time any applicable
Shares otherwise are scheduled to vest pursuant to Sections 3 or 4 or tax withholding obligations related to the applicable Shares
otherwise are due, Participant will permanently forfeit such Shares and the Shares will be returned to the Company at no cost
to the Company.

 

     

    	

    

 

Rights
as Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges
of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such
Shares will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant
or the Escrow Agent. Except as provided in Section 2(f), after such issuance, recordation and delivery, Participant will
have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions
on such Shares.

 

No
Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE SHARES OF RESTRICTED STOCK PURSUANT
TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR
SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS RESTRICTED STOCK OR
ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER
AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE
PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR
THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP
AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

 

Address
for Notices. Any notice to be given to the Company under the terms of this Agreement will be addressed to the Company at Sierra
Monitor Corporation, 1991 Tarob Court, Milpitas, CA 95035, or at such other address as the Company may hereafter designate in
writing.

 

Grant
is Not Transferable. Except to the limited extent provided in Section 6, the unvested Shares subject to this grant and the
rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation
of law or otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of any unvested Shares of Restricted Stock subject to this grant, or any right
or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the
rights and privileges conferred hereby immediately will become null and void.

 

Binding
Agreement. Subject to the limitation on the transferability of this grant contained herein, this Agreement will be binding
upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

 

     

    	

    

 

Additional
Conditions to Release from Escrow. The Company will not be required to issue any certificate or certificates for Shares hereunder
or release such Shares from the escrow established pursuant to Section 2 prior to fulfillment of all the following conditions:
(a) the admission of such Shares to listing on all stock exchanges on which such class of stock is then listed; (b) the
completion of any registration or other qualification of such Shares under any state or federal law or under the rulings or regulations
of the Securities and Exchange Commission or any other governmental regulatory body or the securities exchange on which the Shares
are then registered, which the Administrator will, in its absolute discretion, deem necessary or advisable; (c) the obtaining
of any approval or other clearance from any state or federal governmental agency, which the Administrator will, in its absolute
discretion, determine to be necessary or advisable; and (d) the lapse of such reasonable period of time following the date
of grant of the Restricted Stock as the Administrator may establish from time to time for reasons of administrative convenience.

 

Plan
Governs. This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one or more
provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan will govern. Capitalized terms
used and not defined in this Agreement will have the meaning set forth in the Plan.

 

Administrator
Authority. The Administrator will have the power to interpret the Plan and this Agreement and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules
(including, but not limited to, the determination of whether or not any Shares of Restricted Stock have vested). All actions taken
and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant,
the Company and all other interested persons. No member of the Administrator will be personally liable for any action, determination
or interpretation made in good faith with respect to the Plan or this Agreement.

 

Electronic
Delivery. The Company may, in its sole discretion, decide to deliver any documents related to the Shares of Restricted Stock
awarded under the Plan or future Restricted Stock that may be awarded under the Plan by electronic means or request Participant’s
consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery
and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or another
third party designated by the Company.

 

Captions.
Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

 

Agreement
Severable. In the event that any provision in this Agreement will be held invalid or unenforceable, such provision will be
severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions
of this Agreement.

 

Modifications
to the Agreement. This Agreement constitutes the entire understanding of the parties on the subjects covered. Participant
expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements
other than those contained herein. Modifications to this Agreement or the Plan can be made only in an express written contract
executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Agreement,
the Company reserves the right to revise this Agreement as it deems necessary or advisable, in its sole discretion and without
the consent of Participant, to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)
or to otherwise avoid imposition of any additional tax or income recognition under Section 409A of the Code in connection to this
Award of Restricted Stock.

 

Amendment,
Suspension or Termination of the Plan. By accepting this Award, Participant expressly warrants that he or she has received
an Award of Restricted Stock under the Plan, and has received, read and understood a description of the Plan. Participant understands
that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time.

 

Governing
Law. This Agreement will be governed by the laws of California without giving effect to the conflict of law principles thereof.
For purposes of litigating any dispute that arises under this Award or this Agreement, the parties hereby submit to and consent
to the jurisdiction of the State of California and agree that such litigation will be conducted in the courts of Santa Clara County,
California, or the federal courts for the United States for the Northern District of California, and no other courts, where this
Award is made and/or to be performed.

 

     

    	

    

 

CONSENT OF SPOUSE

 

The undersigned spouse
of Participant has read and hereby approves the terms and conditions of the Plan and this Agreement. In consideration of the Company's
granting his or her spouse the right to purchase Shares as set forth in the Plan and this Agreement, the undersigned hereby agrees
to be irrevocably bound by the terms and conditions of the Plan and this Agreement and further agrees that any community property
interest shall be similarly bound. The undersigned hereby appoints the undersigned’s spouse as attorney-in-fact for the
undersigned with respect to any amendment or exercise of rights under the Plan or this Agreement.

 

	 	 
	 	Spouse of ParticipantExhibit 10.1

 

AMENDMENT TO LOAN AND SECURITY AGREEMENT

 

This AMENDMENT
(“Amendment”) to that certain Loan and Security Agreement is entered into as of this 28th
day of March, 2016, by and among Superior Drilling Products, Inc., a Utah corporation (“Superior”), Superior
Drilling Solutions, LLC, a Utah limited liability company (“Drilling”), Hard Rock Solutions, LLC, a Utah
limited liability company (“Hard Rock”), Extreme Technologies, LLC, a Utah limited liability company
(“Extreme”, and together with Superior, Drilling and Hard Rock, “Borrower” or “Borrowers”),
and FEDERAL NATIONAL PAYABLES, INC., a Delaware corporation doing business as Federal National Commercial Credit (“Lender”).

 

BACKGROUND

 

On March 8, 2016, Borrower and Lender entered
into a certain Loan and Security Agreement (the “Loan Agreement”) and other Credit Documents, as that
term is defined in the Loan Agreement. Lender and Borrower have agreed to modify and amend certain provisions of the Loan Agreement,
as more fully provided herein.

 

NOW THEREFORE, with the
foregoing Background deemed incorporated by reference and for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto, intending to be legally bound, covenant and agree as follows:

 

Section
1. AMENDMENT.

 

Section 7.15 (a) of the Loan Agreement is
hereby amended to read as follows:

 

(a)Maintain Fixed
Charge Coverage Ratio of not less than:

 

		1.	0.10x tested monthly from June 30, 2016 through August 31, 2016;

 

		2.	0.35x tested on September 30, 2016 and October 31, 2016; then

 

		3.	1.00x tested on November 30, 2016 and each month thereafter.

 

The ratio will be measured monthly on a
rolling three month basis. The Fixed Charge Ratio is defined as the ratio of (i) Earnings Before Interest, Taxes, Depreciation,
Amortization and Non-Cash Stock Compensation Expense (“EBITDA”) less (a) income taxes paid in cash for each period
of measurement and less (b) the cash portion paid for any capital expenditures made for each period of measurement, all as determined
in accordance with GAAP, to (ii) fixed charges.  For purposes of this calculation, fixed charges shall mean the sum of, interest
expense actually paid, loan fees, fees with respect to Indebtedness, principal payments made with respect to Indebtedness, payments
on capitalized leases, taxes, dividends or distributions, unfinanced capital expenditures, plus loans or advances to any officers,
directors or shareholders of Borrower for each  period of measurement.

 

     

     

    

 

Section 2. 
MISCELLANEOUS

 

2.1Counterparts. This Amendment
may be executed in any number of counterparts, each of which will constitute an original and all of which together shall constitute
one instrument. Signature by facsimile shall bind the parties hereto.

 

2.2Third-Party Rights. No
rights are intended to be created hereunder for the benefit of any third-party donee, creditor, or incidental beneficiary.

 

2.3Modifications. No modification
hereof or any agreement referred to herein shall be binding or enforceable unless in writing and signed on behalf of the party
against whom enforcement is sought.

 

2.5Integrated Agreement.
This Amendment shall be deemed incorporated into and made a part of the Credit Documents. Except as expressly set forth herein,
all of the terms, conditions and agreements of the Credit Documents are ratified and confirmed. The Credit Documents and this Amendment
shall be construed as integrated and complementary of each other, and as augmenting and not restricting Lender’s rights,
remedies and security. If, after applying the foregoing, an inconsistency still exists, the provisions of this Amendment shall
control.

 

2.6Survival. All warranties,
representations and covenants made by Borrower herein, or in any agreement referred to herein or on any certificate, document or
other instrument delivered by them or on their behalf under this Amendment, shall be considered to have been relied upon by Lender.
All statements in any such certificate or other instrument shall constitute warranties and representations by Borrower hereunder.
All warranties, representations, indemnities and covenants made by Borrower hereunder or under any other agreement or instrument
shall be deemed continuing until the Obligations are indefeasibly paid and satisfied in full.

 

2.7Successors and Assigns.
This Amendment shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto. No delegation
by Borrower of any duty or obligation of performance may be made or is intended to be made to Lender. No rights are intended to
be created hereunder or under any related instruments, documents or agreements for the benefit of any third party donee, creditor,
incidental beneficiary or affiliate of Borrower.

 

2.8Governing Law. This Amendment
shall be governed by and construed in accordance with the laws of the State of Maryland. The provisions of this Amendment are to
be deemed severable, and the invalidity or unenforceability of any provision shall not affect or impair the remaining provisions
which shall continue in full force and effect.

 

2.9Waiver of Jury Trial.
Borrower and Lender each hereby waives any and all rights any of them may have to a jury trial in connection with any litigation
commenced by or against any of the parties to this Amendment with respect to rights and obligations of the parties hereto under
this Amendment or under the Credit Documents.

 

     

     

    

 

2.10Exclusive Jurisdiction.
Borrower and Lender each irrevocably consent to the non-exclusive jurisdiction of the State of Maryland and the United States District
Court for the District of Maryland, in any and all actions and proceedings whether arising hereunder or under the Credit Documents.
Borrower irrevocably agrees to service of process by certified mail return receipt requested to the address currently contained
in Lender’s records.

 

2.11Charges and Fees. Nothing
contained in this Amendment shall be deemed to limit, affect or impair the imposition of or provision for late charges, default
charges and default interest as provided in the Credit Documents.

 

2.12Capitalized Terms. Any
Capitalized terms not otherwise defined pursuant to this Amendment shall have their meaning pursuant to the Agreement and/or the
Credit Documents.

 

2.13Severability. The provisions
of the Agreement, as amended by this Amendment, are to be deemed severable; the illegality, invalidity or unenforceability of any
provision shall not affect or impair the remaining provisions, which shall continue in full force and effect, as if such illegal,
invalid or unenforceable provision were not part of the Agreement, as amended by this Amendment (but only to the extent of such
illegality, invalidity or unenforceability).

 

[signatures
continue on next page]

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned parties
have executed this Agreement the day and year first above written.

 

	BORROWERS:	SUPERIOR DRILLING PRODUCTS, INC.
	 	 	 
	 	By:	/s/ Troy Meier
	 	 	, [Title]
	 	Name:	Troy Meier
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:	1583 South 1700 East
	 	 	Vernal, UT 84078
	 	 	 
	 	SUPERIOR DRILLING SOLUTIONS, LLC
	 	 	 
	 	By:	/s/ Troy Meier
	 	 	, [Title]
	 	Name:	Troy Meier
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:	1583 South 1700 East
	 	 	Vernal, UT 84078
	 	 	 
	 	HARDROCK SOLUTIONS, LLC
	 	 	 
	 	By:	/s/ Troy Meier
	 	 	, [Title]
	 	Name:	Troy Meier
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:	1583 South 1700 East
	 	 	Vernal, UT 84078
	 	 	 
	 	EXTREME TECHNOLOGIES, LLC
	 	 	 
	 	By:	/s/ Troy Meier
	 	 	, [Title]
	 	Name:	Troy Meier
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:	1583 South 1700 East
	 	 	Vernal, UT 84078

  

     

     

    

 

	LENDER:	FEDERAL NATIONAL PAYABLES, INC.
	 	 	 
	 	By:	/s/ William Seibold
	 	Name:	William Seibold
	 	Title:	Chief Credit Officer
	 	 	 
	 	Address:	7315 Wisconsin Avenue, Suite 600W
	 	 	Bethesda, MD 20814

  

ACKNOWLEDGMENT AND CONSENT OF VALIDITY
GUARANTOR

 

The undersigned guarantor
hereby acknowledges and consents to the provisions of the foregoing Amendment and agrees that the each of the undersigned’s
obligations under the Validity Guaranty executed in accordance with the Loan Agreement and the Credit Documents shall be unimpaired
by the said Amendment and that the undersigned has no defenses or set offs against Lender, its officers, directors, employees,
agents or attorneys, with respect to such Validity Guaranty, and that all of the terms, conditions and covenants in such Validity
Guaranty remain unaltered and in full force and effect and are hereby ratified and confirmed. The undersigned hereby certifies
that the representations and warranties made in the Validity Guaranty are true and correct as of the date hereof. The undersigned
hereby ratifies and confirms the waiver of jury trial provision (if applicable) contained in the Validity Guaranty. 

 

WITNESS the
due execution hereof as a document under seal, as of March 28th, 2016, intending to be legally bound hereby.

 

	 	/s/ G. Troy Meier                      	 (SEAL)
	 	G. Troy Meier	 

 

	STATE OF TEXAS	:	 
	 	:	 
	COUNTY OF HARRIS	:	 

  

     

     

    

 

On this, the 28th
day of March, 2016, before me, the undersigned Notary Public, personally appeared G. Troy Meier , known to me (or satisfactorily
proven) to be the individual described in and who executed the foregoing, instrument and he duly acknowledged to me that he executed
the same for the purposes therein contained.

 

WITNESS my hand and
seal the day and year aforesaid.

 

	 	 
	 	Notary Public
	 	My Commission Expires:

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