Document:

Exhibit 10.1

 

DIVERSIFIED HEALTHCARE TRUST

 

Summary of Trustee Compensation

 

The following is a summary of the currently effective compensation
of the Trustees of Diversified Healthcare Trust (the “Company”) for services as Trustees, which is subject
to modification at any time by the Board of Trustees (the “Board”) or the Compensation Committee of the Board,
as applicable:

 

·      Each
Independent Trustee receives an annual fee of $75,000 for services as a Trustee. The annual fee for any new Independent Trustee
is prorated for the initial year.

 

·      Each
Independent Trustee who serves as a committee chair of the Board’s Audit Committee, Compensation Committee or Nominating
and Governance Committee receives an additional annual fee of $17,500, $12,500 and $12,500, respectively. The committee chair
fee for any new committee chair is prorated for the initial year.

 

·      The
Lead Independent Trustee receives an additional annual cash retainer fee of $15,000 for serving in this role.

 

·      Each
Trustee receives a grant of 10,000 of the Company’s common shares of beneficial interest on the date of the first Board
meeting following each annual meeting of shareholders (or, for Trustees who are first elected or appointed at other times, on
the day of the first Board meeting attended).

 

·      The
Company generally reimburses all Trustees for travel expenses incurred in connection with their duties as Trustees and for out
of pocket costs incurred in connection with their attending certain continuing education programs.EX-10.1

 EXHIBIT 10.1 

EAGLE MATERIALS INC. 

SALARIED INCENTIVE COMPENSATION PROGRAM 

FOR FISCAL YEAR 2021 
  

	1.	 Purpose 

The purpose of the Eagle Materials Inc. Salaried Incentive Compensation Program for Fiscal Year 2021 (the “Plan”) is to establish an
incentive bonus program which: (i) focuses on the performance of Eagle Materials Inc. (the “Company”) as well as individual performance; and (ii) aligns the interest of participants with those of the Company’s shareholders.
The Plan is adopted by the Compensation Committee of the Board of Directors (the “Committee”) under the structure of the Company’s Amended and Restated Incentive Plan (the “Incentive Plan”) and is subject to all the terms
and conditions of such Incentive Plan, including, without limitation the limits set forth in Section 8 of the Incentive Plan. The Plan shall be in effect for the fiscal year ending March 31, 2021. 

 

	2.	 Eligibility 

The Company’s Chief Executive Officer (the “CEO”) and his direct reports are eligible to participate in the Plan. The CEO may
propose to also include in the Plan additional exempt salaried employees at the corporate level of the Company. 
 Participants must be an
exempt salaried manager or professional. No hourly or non-exempt employee may participate. Participants in the Plan may not participate in any other Company incentive plan providing for monetary awards, except
for the Eagle Materials Long Term Compensation Program and the Eagle Materials Special Situation Program. 
  

	3.	 Bonus Pool 

To ensure reasonableness and affordability, available funds for bonus payments under the Plan are to be determined as a percentage of operating
earnings of the Company. The actual percentage may vary from year to year as recommend by the CEO and approved by the Committee. For Fiscal Year 2021, 1.2% of the Company’s operating earnings, as determined by the Committee, will fund
the corporate bonus pool. 
 Participants must be employed on March 31, 2021 to be eligible for any bonus award. Awards may be adjusted
for partial year participation for participants who enter the program after April 1, 2020. 
  

	4.	 Allocation of Corporate Pool 

Each participant’s allocated percentage of the corporate pool, and his/her individual performance relative to the goals and objectives
(and bonus award) shall be approved by the Committee, which may seek input from the CEO. For each participant, the maximum annual bonus award opportunity is represented by the percentage of the corporate pool assigned to such participant. 

	5.	 Goals and Objectives  

At the beginning of the fiscal year goals and objectives shall be established for each participant, and shall be 50% goal based, 10% budget
based and 40% discretionary. The actual bonus award paid at the end of the fiscal year shall be based on the individual participant’s performance relative to the previously established goals and objectives and the participant’s individual
performance during the fiscal year. The goals and objectives to be used for participants in the Plan may be comprised of objective and subjective criteria and should generally have a broader scope than the goals and objectives for subsidiary
companies. However, at the same time the goals must also contain specific criteria regarding execution that links subsidiary company performance to corporate performance. 
  

	6.	 Plan Administration 

The Plan shall be administered by the Committee, which shall have full and exclusive power to interpret this Plan and to adopt such rules,
regulations and guidelines for carrying out this Plan as it may deem necessary or appropriate in its sole discretion. All decisions of the Committee shall be binding and conclusive on the participants. The Committee shall determine all terms and
conditions of the bonus awards. 
 No member of the Committee shall be liable for anything done or omitted to be done by him or by any
member of the Committee in connection with the performance of any duties under this Plan, except for his own willful misconduct or as expressly provided by statute. 
  

	7.	 No Employment Guaranteed 

No provision of this Plan hereunder shall confer any right upon any executive officer to continued employment. 

 

	8.	 Governing Law 

This Plan and all determinations made and actions taken pursuant hereto, shall be governed by and construed in accordance with the laws of the
State of Texas, without reference to any conflicts of law principles thereof that would require the application of the laws of another jurisdiction. 

  
 - 2 -EX-10.2

 EXHIBIT 10.2 

EAGLE MATERIALS INC. 

SPECIAL SITUATION PROGRAM 

FOR FISCAL YEAR 2021 

1.    The Eagle Materials Inc. Special Situation Program for Fiscal Year 2021 (the “SSP” or the
“Plan”) shall be funded by: (i) 0.2% of Eagle Material Inc.’s EBITDA, as determined by the Compensation Committee of the Board of Directors (“Committee”); (ii) the portions of subsidiary company and corporate annual
incentive compensation bonus pools not paid out (not earned); and (iii) the portion of the subsidiary companies long-term compensation plans not paid out (not earned). All full-time employees of Eagle Materials Inc. (“Eagle” or the
“Company”) or a subsidiary company will be eligible to receive an SSP award. 
  

	 	A.	 An SSP award is intended to recognize outstanding individual performances during the current fiscal year
based on contributions that dramatically improve the Company’s profitability or worth. 

  

	 	B.	 An SSP award may also be made to individuals at Eagle or at subsidiary companies whose operating profit has
been adversely affected by market conditions in order to recognize superior performance of the participants at those companies. 

  

	 	C.	 SSP funds not awarded may be retained by the Company for use in future fiscal years.

 2.    SSP awards may be recommended by subsidiary company Presidents, Eagle EVP’s and/or
the Eagle Chief Executive Officer (“CEO”). The approval of the Eagle CEO is required for all SSP awards; provided, that an SSP award to any senior executive officers who are required to make disclosures under Section 16 of the
Securities Exchange Act of 1934, as amended (“Executive Officers”), shall require the approval of the Committee. 

3.    The SSP shall be administered by the CEO, who shall have full and exclusive power to interpret the Plan and to adopt
such rules, regulations and guidelines for carrying out this Plan as the CEO may deem necessary or appropriate in the CEO’s sole discretion. All decisions of the CEO shall be binding and conclusive on the participants. Notwithstanding the
foregoing, any matter affecting an SSP award to an Executive Officer (including, without limitation, any interpretation of the Plan or the adoption of any rules, regulations or guidelines affecting an award to an Executive Officer) shall be approved
by the Committee. Any decision by the Committee with respect to an Executive Officer shall be final and binding. 

4.    This Plan and all determinations made and actions taken pursuant hereto, shall be governed by and construed in
accordance with the laws of the State of Texas, without reference to any conflicts of law principles thereof that would require the application of the laws of another jurisdiction.Exhibit 10.1

FOURTEENTH AMENDMENT TO Loan
AND SECURITY AGREEMENT AND WAIVER

THIS FOURTEENTH
AMENDMENT TO Loan AND SECURITY AGREEMENT AND WAIVER (this “Amendment”)
is made and entered into as of May 13, 2020, by and among INTRICON CORPORATION, a Pennsylvania corporation (“IntriCon”),
INTRICON, INC., a Minnesota corporation (“Inc.”), HEARING HELP EXPRESS, INC., an Illinois corporation (“HHE”,
and, together with Inc., and IntriCon, the “Borrowers”, and, each, individually, a “Borrower”),
and CIBC BANK USA, an Illinois banking corporation (the “Bank”).

RECITALS:

A.       The
Borrowers and the Bank are parties to a certain Loan and Security Agreement dated as of August 13, 2009, as amended by a First
Amendment dated as of March 12, 2010, as further amended by a Second Amendment dated as of August 12, 2011, as further amended
by a Third Amendment dated as of March 1, 2012, as further amended by a Fourth Amendment dated as of August 6, 2012, as further
amended by a Fifth Amendment dated December 21, 2012, as further amended by a Sixth Amendment dated February 14, 2014, as further
amended by a Seventh Amendment dated March 31, 2015, as further amended by a Eighth Amendment dated April 15, 2016, as further
amended by a Ninth Amendment dated August 15, 2016, as further amended by a Tenth Amendment dated March 9, 2017, as further
amended by a Eleventh Amendment dated December 15, 2017, as further amended by a Twelfth Amendment dated July 23, 2018, and as
further amended by a Thirteenth Amendment dated as of April 17, 2019 (as so amended, the “Loan Agreement”).
All capitalized terms not otherwise defined herein shall have the meanings given to them in the Loan Agreement.

B.       The
Borrowers have requested that the Bank (i) waive certain instances of non-compliance with the Loan Agreement and (ii) amend certain
provisions of the Loan Agreement, and the Bank has agreed to so waive and so amend the Loan Agreement upon the terms and subject
to the conditions set forth in this Amendment.

AGREEMENTS:

NOW, THEREFORE, in
consideration of the mutual covenants and agreements hereinafter set forth, and for other good and valuable consideration, the
nature, receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

Section 1.                  
Waiver.

(a)               
Pursuant to Section 10.3 of the Loan Agreement, the Borrowers are not permitted to allow the Fixed Charge Coverage
Ratio, determined as of the end of each calendar quarter for the period of twelve consecutive calendar months then-ended, to be
less than 1.25 to 1.00. The Borrowers have informed the Bank that the Fixed Charge Coverage Ratio for the twelve month period ended
on the last day of the calendar quarter ended March 31, 2020 was less than 1.25 to 1.00. Such instance of non-compliance constitutes
an Event of Default under Section 11.3 of the Loan Agreement (the “Existing Default”).

(b)               
The Borrowers have requested that the Bank waive the Existing Default, and, subject to the satisfaction of the conditions
precedent set forth in Section 3 hereof and the effectiveness of this Amendment, the Bank hereby so waives the Existing
Default. Except as expressly provided herein, all provisions of the Loan Agreement and the other Loan Documents remain in full
force and effect. The foregoing waiver shall not apply to any other or subsequent failure to comply with the sections
identified above or any other provision of the Loan Agreement or the other Loan Documents, and shall not give rise to any
course of dealing or course of performance with respect to any future requests.

 

     

     

    

Section 2.                  
Amendments. Upon satisfaction of the conditions set forth in Section 2 hereof, the Loan Agreement is hereby
amended as follows:

 

(a)               
The following defined terms appearing in Section 1.1 of the Loan Agreement are hereby amended and restated in their
entirety to read as follows:

"LIBOR
Rate" shall mean a per annum rate of interest equal to the greater of (a) 0% and (b) LIBOR for the relevant Interest Period,
which LIBOR Rate shall remain fixed during such Interest Period.

“Revolving
Loan Commitment” shall mean Twelve Million and 00/100 Dollars ($12,000,000.00).

(b)               
The following new Section 2.15 is hereby added to the Loan Agreement in its proper order:

2.15       Effect
of Benchmark Transition Event.

(a) Benchmark Replacement.
Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event
or an Early Opt-in Election, as applicable, Bank (without, except as specifically provided in the two following sentences, any
action or consent by any other party to this Agreement) may amend this Agreement to replace the LIBOR Rate with a Benchmark Replacement.
Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (Chicago time) on the fifth
(5th) Business Day after Bank has posted such proposed amendment to Borrowing Agent. Any such amendment with respect to an Early
Opt-in Election will become effective on the date that Borrowing Agent has delivered to Bank written notice that Borrowers accept
such amendment. No replacement of LIBOR with a Benchmark Replacement pursuant to this Section titled “Effect of Benchmark
Transition Event” will occur prior to the applicable Benchmark Transition Start Date.

(b) Benchmark Replacement Conforming
Changes. In connection with the implementation of a Benchmark Replacement, Bank will have the right to make Benchmark Replacement
Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments
implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other
party to this Agreement.

(c) Notices; Standards for Decisions
and Determinations. Bank will promptly notify Borrowing Agent of (i) any occurrence of a Benchmark Transition Event or an Early
Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition Start Date, (ii) the implementation
of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the commencement
or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by Bank
pursuant to this Section titled “Effect of Benchmark Transition Event,” including any determination with
respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any
decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made in
its sole discretion and without consent from any other party hereto, except, in each case, as expressly required pursuant to
this Section titled “Effect of Benchmark Transition Event.”

 

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(d) Benchmark Unavailability
Period. Upon Borrowing Agent’s receipt of notice of the commencement of a Benchmark Unavailability Period, Borrowers
will be deemed to have converted any pending request for a LIBOR Loan, and any conversion to or continuation of any LIBOR Loans
to be made, converted or continued during any Benchmark Unavailability Period into a request for a borrowing of or conversion to
Base Rate Loans.

(e) Certain Defined Terms.
As used in this Section titled “Effect of Benchmark Transition Event”:

“Benchmark Replacement”
means the sum of: (a) the alternate benchmark rate (which may include Term SOFR) that has been selected by Bank giving
due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by
the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a rate of interest as
a replacement to the LIBOR Rate for U.S. dollar-denominated syndicated credit facilities and (b) the Benchmark Replacement Adjustment;
provided that, if the Benchmark Replacement as so determined would be less than zero, the Benchmark Replacement will be deemed
to be zero for the purposes of this Agreement.

“Benchmark Replacement
Adjustment” means, with respect to any replacement of the LIBOR Rate with an Unadjusted Benchmark Replacement for
each applicable Interest Period, the spread adjustment, or method for calculating or determining such spread adjustment, (which
may be a positive or negative value or zero) that has been selected by Bank giving due consideration to (i) any selection or recommendation
of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the LIBOR Rate
with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (ii) any evolving or then-prevailing
market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the
replacement of the LIBOR Rate with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated syndicated credit
facilities at such time.

“Benchmark Replacement
Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational
changes (including changes to the definition of “Interest Period,” timing and frequency of determining rates and making
payments of interest and other administrative matters) that Bank decides may be appropriate to reflect the adoption and implementation
of such Benchmark Replacement and to permit the administration thereof by Bank in a manner substantially consistent with
market practice (or, if Bank decides that adoption of any portion of such market practice is not administratively feasible or
if Bank determines that no market practice for the administration of the Benchmark Replacement exists, in such other manner of
administration as Bank decides is reasonably necessary in connection with the administration of this Agreement).

 

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“Benchmark Replacement
Date” means the earlier to occur of the following events with respect to the LIBOR Rate:

		(1)	in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,”
the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the
administrator of the LIBOR Rate permanently or indefinitely ceases to provide the LIBOR Rate; or

		(2)	in the case of clause (3) of the definition of “Benchmark Transition Event,” the date
of the public statement or publication of information referenced therein.

“Benchmark Transition
Event” means the occurrence of one or more of the following events with respect to the LIBOR Rate:

		(1)	a public statement or publication of information by or on behalf of the administrator of the LIBOR
Rate announcing that such administrator has ceased or will cease to provide the LIBOR Rate, permanently or indefinitely, provided
that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBOR
Rate;

		(2)	a public statement or publication of information by the regulatory supervisor for the administrator
of the LIBOR Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the LIBOR
Rate, a resolution authority with jurisdiction over the administrator for the LIBOR Rate or a court or an entity with similar insolvency
or resolution authority over the administrator for the LIBOR Rate, which states that the administrator of the LIBOR Rate has ceased
or will cease to provide the LIBOR Rate permanently or indefinitely, provided that, at the time of such statement or publication,
there is no successor administrator that will continue to provide the LIBOR Rate; or

		(3)	a public statement or publication of information by the regulatory supervisor for the administrator
of the LIBOR Rate announcing that the LIBOR Rate is no longer representative.

“Benchmark Transition
Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement
Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the
90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected
date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication)
and (b) in the case of an Early Opt-in Election, the date specified by Bank by notice to Borrowing Agent.

 

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“Benchmark Unavailability
Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect
to the LIBOR Rate and solely to the extent that the LIBOR Rate has not been replaced with a Benchmark Replacement, the period (x)
beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced
the LIBOR Rate for all purposes hereunder in accordance with the Section titled “Effect of Benchmark Transition Event”
and (y) ending at the time that a Benchmark Replacement has replaced the LIBOR Rate for all purposes hereunder pursuant to the
Section titled “Effect of Benchmark Transition Event.”

“Early Opt-in Election”
means the occurrence of:

(1) a determination by Bank or (2)
a notification by Borrowing Agent to Bank, that U.S. dollar-denominated syndicated credit facilities being executed at such time,
or that include language similar to that contained in this Section titled “Effect of Benchmark Transition Event,” are
being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace the LIBOR Rate, and,
in the case of clause (2) the agreement by Bank to amend this Agreement as a result of such election.

“Federal Reserve Bank
of New York’s Website” means the website of the Federal Reserve Bank of New York at http://www.newyorkfed.org,
or any successor source.

“Relevant Governmental
Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed
or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.

“SOFR” with
respect to any day means the secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as
the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York’s Website.

“Term SOFR” means
the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

“Unadjusted Benchmark
Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.

(c)               
The table set forth in Section 10.2 of the Loan Agreement is hereby amended and restated in its entirety to read
as follows:

 

	Measurement
    Date	Maximum
    Leverage Ratio
	June
    30, 2017	4.75
    to 1.00
	September
    30, 2017	3.00
    to 1.00
	December
    31, 2017 and the last day of each calendar quarter thereafter through March 31, 2020	2.50
    to 1.00
	September
    30, 2020 and the last day of each calendar quarter ending thereafter	2.50
    to 1.00

 

 

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(d)               
The table set forth in Section 10.3 of the Loan Agreement is hereby amended and restated in its entirety to read
as follows:

 

	Measurement Date	
     Minimum Fixed Charge Coverage Ratio
	June 30, 2017	1.05 to 1.00
	September 30, 2017	
     1.25 to 1.00
	December 31, 2017 and the last day of each calendar quarter thereafter through March 31, 2020	
    1.25 to 1.00
	September 30, 2020 and the last day of each calendar quarter ending thereafter	
     1.25 to 1.00

 

(e)           
The following new Section 10.4 is hereby added to the Loan Agreement in its proper order:

10.4           Liquidity.
At all times until September 30, 2020, the Borrowers shall maintain at least $15,000,000 of liquidity, calculated as the sum of
(a) cash on hand, plus (b) Cash Equivalent Investments, plus (c) the sum of (i) Revolving Loan Availability minus
(ii) Revolving Loans outstanding.

(f)              The second sentence of Section 13.3 of the Loan Agreement is hereby amended and restated in its entirety to read
as follows:

Except as set forth in Section
2.15(b), no amendment, modification or waiver of, or consent with respect to, any provision of this Agreement or the other
Loan Documents shall in any event be effective unless the same shall be in writing and acknowledged by the Bank, and then any such
amendment, modification, waiver or consent shall be effective only in the specific instance and for the specific purpose for which
given.

 

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Section 3.                  
Delivery of Documents. At or prior to the execution of this Amendment, and as a condition precedent to the effectiveness
of this Amendment, the Borrowers shall have satisfied the following conditions and delivered or caused to be delivered to the
Bank the following documents each dated such date and in form and substance satisfactory to the Bank and duly executed by all
appropriate parties:

(a)               
This Amendment.

(b)               
The Amended and Restated Revolving Note.

(c)               
Execution and delivery of a copy of the resolutions of the Board of Directors of each Borrower, duly adopted, which authorize
the execution, delivery and performance by such Borrower of this Amendment and the other documents, instruments and agreements
set forth in this Section 3 (collectively, the “Amendment Documents”), certified as true and accurate
by the Secretary of each Borrower, along with a certification by such Secretary (i) certifying that there has been no amendment
to the Articles of Incorporation or Bylaws of such Borrower since true and accurate copies of the same were last delivered and
certified to Bank, and that said Articles of Incorporation and Bylaws remain in full force and effect as of the date of this Amendment;
and (ii) identifying each officer of such Borrower authorized to execute this Amendment, the other Amendment Documents and any
other instrument or agreement executed by such Borrower in connection with this Amendment, and certifying as to specimens of such
officer’s signature and such officer’s incumbency in such offices as such officer holds.

(d)               
An amendment fee paid to the Bank in the amount of $15,000, which fee shall be non-refundable when paid and wholly earned
when received.

(e)               
Such other documents or instruments as the Bank may reasonably require.

Section 4.                  
Representations; No Default. Each Borrower represents and warrants that: (a) the representation and warranties contained
in Section 7 of the Loan Agreement are true and correct in all material respects, as though made on the date hereof, except
to the extent such representation and warranty, by its express terms, relates solely to a prior date, and except that the representations
and warranties contained in Section 7.26 of the Loan Agreement shall be true and correct in all material respects, as though
made on the date of the financial statements most recently delivered to the Bank pursuant to Section 8.8(a) of the Loan
Agreement; (b) such Borrower has the power and legal right and authority to enter into this Amendment and has duly authorized the
execution and delivery of this Amendment and other agreements and documents executed and delivered by such Borrower in connection
herewith; (c) neither this Amendment nor the agreements contained herein contravene or constitute an Unmatured Event of Default
or Event of Default under the Loan Agreement or a default under any other agreement, instrument or indenture to which such Borrower
is a party or a signatory, or any provision of such Borrower’s Articles of Incorporation or Bylaws or, to the best of such
Borrower’s knowledge, any other agreement or requirement of law, or result in the imposition of any lien or other encumbrance
on any of its property under any agreement binding on or applicable to such Borrower or any of its property except, if any, in
favor of the Bank; (d) no consent, approval or authorization of or registration or declaration with any party, including but not
limited to any governmental authority, is required in connection with the execution and delivery by the Borrower of this Amendment
or other agreements and documents executed and delivered by such Borrower in connection herewith or the performance of obligations
of such Borrower herein described, except for those which such Borrower has obtained or provided and as to which such Borrower
has delivered certified copies of documents evidencing each such action to the Bank; (e) no events have taken place and no circumstances
exist at the date hereof which would give such Borrower grounds to assert a defense, offset or counterclaim to the obligations
of such Borrower under the Loan Agreement or any of the other Loan Documents; (f) there are no known claims, causes of action,
suits, debts, liens, obligations, liabilities, demands, losses, costs and expenses (including attorneys’ fees) of
any kind, character or nature whatsoever, fixed or contingent, which such Borrower may have or claim to have against the Bank,
which might arise out of or be connected with any act of commission or omission of the Bank existing or occurring on or prior
to the date of this Amendment, including, without limitation, any claims, liabilities or obligations arising with respect to
the indebtedness evidenced by the Notes (as defined in the Loan Agreement); and (g) after giving effect to this Amendment, no
Unmatured Event of Default or Event of Default has occurred and is continuing under the Loan Agreement.

 

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Section 5.                  
Affirmation; Further References. The Bank and each Borrower acknowledge and affirm that the Loan Agreement, as hereby
amended, is hereby ratified and confirmed in all respects and all terms, conditions and provisions of the Loan Agreement (except
as amended by this Amendment) and of each of the other Loan Documents shall remain unmodified and in full force and effect. All
references in any document or instrument to the Loan Agreement are hereby amended and shall refer to the Loan Agreement as amended
by this Amendment.

Section 6.                  
Severability. Whenever possible, each provision of this Amendment and any other statement, instrument or transaction
contemplated hereby or thereby or relating hereto or thereto shall be interpreted in such manner as to be effective, valid and
enforceable under the applicable law of any jurisdiction, but, if any provision of this Amendment or any other statement, instrument
or transaction contemplated hereby or thereby or relating hereto or thereto shall be held to be prohibited, invalid or unenforceable
under the applicable law, such provision shall be ineffective in such jurisdiction only to the extent of such prohibition, invalidity
or unenforceability, without invalidating or rendering unenforceable the remainder of such provision or the remaining provisions
of this Amendment or any other statement, instrument or transaction contemplated hereby or thereby or relating hereto or thereto
in such jurisdiction, or affecting the effectiveness, validity or enforceability of such provision in any other jurisdiction.

Section 7.                  
Successors. This Amendment shall be binding upon the Borrowers, the Bank and their respective successors and assigns,
and shall inure to the benefit of the Borrowers, the Bank and to the respective successors and assigns of the Bank.

Section 8.                  
Costs and Expenses. Each Borrower agrees to reimburse the Bank, upon execution of this Amendment, for all reasonable
out-of-pocket expenses (including attorneys’ fees and legal expenses of counsel for the Bank) incurred in connection with
the Loan Agreement, including in connection with the negotiation, preparation and execution of this Amendment and all other documents
negotiated, prepared and executed in connection with this Amendment, and in enforcing the obligations of the Borrowers under this
Amendment, and to pay and save the Bank harmless from all liability for, any stamp or other taxes which may be payable with respect
to the execution or delivery of this Amendment.

Section 9.                  
Headings. The headings of various sections of this Amendment have been inserted for reference only and shall not
be deemed to be a part of this Amendment.

Section 10.              
Counterparts; Digital Copies. This Amendment may be executed in several counterparts as deemed necessary or convenient,
each of which, when so executed, shall be deemed an original, provided that all such counterparts shall be regarded as one and
the same document, and any party to this Amendment may execute any such agreement by executing a counterpart of such agreement.
A facsimile or digital copy (.pdf) of this signed Amendment shall be deemed to be an original thereof.

 

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Section 11.              
Release of Rights and Claims. Each Borrower, for itself and its successors and assigns, hereby releases, acquits,
and forever discharges Bank and its successors and assigns for any and all manner of actions, suits, claims, charges, judgments,
levies and executions occurring or arising from the transactions entered into with Bank prior to entering into this Amendment whether
known or unknown, liquidated or unliquidated, fixed or contingent, direct or indirect which such Borrower may have against Bank.

Section 12.              
Governing Law. This Amendment shall be governed by the internal laws of the State of Minnesota, without giving effect
to conflict of law principles thereof.

Section 13.              
No Waiver. Except as expressly set forth in Section 1 hereof, nothing contained in this Amendment (or in any
other agreement or understanding between the parties) shall constitute a waiver of, or shall otherwise diminish or impair, the
Bank’s rights or remedies under the Loan Agreement or any of the other Loan Documents, or under applicable law.

 

[Remainder of page intentionally blank;
signature page follows]

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed as of the day and year first above written.

 

	BORROWERS:	
        INTRICON CORPORATION,

        a Pennsylvania corporation

        By: /s/ Scott Longval

        Name: Scott Longval

        Title: Chief Financial Officer

         

         

	 	
        INTRICON, INC.,

        a Minnesota corporation

        By: /s/ Scott Longval

        Name: Scott Longval

        Title: Chief Financial Officer

         

	 	
        HEARING HELP EXPRESS, INC.,

        an Illinois corporation

        By: /s/ Scott Longval

        Name: Scott Longval

        Title: CFO

         

         

 

 

 

[Signature
page to Fourteenth Amendment to Loan and Security Agreement and Waiver]

 

     

     

    

 

	BANK:	
        CIBC BANK USA ,

        an Illinois banking corporation

        By: /s/ Leanne Manning

        Name: Leanne Manning

        Title: Managing Director

         

         

 

 

 

 

 

[Signature
page to Fourteenth Amendment to Loan and Security Agreement and Waiver]

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