Document:

Amended & Restated 2007 Stock Appreciation Right Plan

 Exhibit 10.1 
 LECROY CORPORATION 
 AMENDED AND RESTATED 
 2007 STOCK APPRECIATION RIGHT PLAN 
  

	1.	Purposes of the SAR Plan. 

 The purposes of this
Amended and Restated Stock Appreciation Right Plan (the “SAR Plan”) of LeCroy Corporation (the “Company”) are to promote the interests of the Company and its stockholders by strengthening the Company’s ability
to attract, motivate, and retain employees of exceptional ability, to ensure that the compensation provided to selected employees is competitive with the market peers of such selected employees and to provide an additional competitive long-term
incentive value to those key employees of the Company upon whose judgment, initiative, and efforts the financial success and growth of the business of the Company largely depend. 
  

	2.	Definitions. 

 (a) “Beneficial
Ownership” means beneficial ownership as defined in Securities and Exchange Commission Rule 13d-3 under the Exchange Act. 
 (b)
“Board” means the Board of Directors of the Company. 
 (c) “Code” means the Internal Revenue of 1986, as
amended, including any successor law thereto, and the rules and regulations promulgated thereunder. 
 (d) “Committee” means
a committee appointed by the Board consisting of at least two members of the Board. 
 (e) “Change in Control” means a
change in ownership or control of the Company effected through either of the following transactions: 
 (i) any person or
related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with the Company) directly or indirectly acquires Beneficial Ownership of securities possessing more than
50% of the total fair market value or total voting power of the Company’s outstanding securities, or 
 (ii) over a
period of 12 consecutive months or less, there is a change in the composition of the Board such that a majority of the Board members (rounded up to the next whole number, if a fraction) is replaced by directors whose election is not endorsed by a
majority of the members of the Company’s Board before the date of the election. 
 Solely with respect to any grant that is subject to Section 409A
of the Code and that is payable upon a Change of Control, and to the extent that the above definition does not comply with Section 409A, such definition shall be modified, to the extent required to ensure that this 

 
definition complies with the requirements of Section 409A of the Code, as set forth in regulations or other regulatory guidance issued under
Section 409A of the Code by the appropriate governmental authority and the Plan shall be operated in accordance with the above definition of Change in Control as modified to the extent necessary to ensure that the above definition complies with
the definition prescribed in such regulations or other regulatory guidance. 
 (f) “Common Stock” means the authorized
common stock of the Company, par value $0.01. 
 (g) “Company” means LeCroy Corporation. 
 (h) “Date of Grant” means the effective date of the grant of a Stock Appreciation Right as set forth in the Grant Document. 

(i) “Eligible Employee” means any person who is, at the time of the grant of a Stock Appreciation Right, an employee of the Company
or any Subsidiary. 
 (j) “Exchange Act” means the Securities Exchange Act of 1934, as amended and in effect from time to
time. 
 (k) “Fair Market Value” means the value of a share of Common Stock on any relevant date as determined in accordance
with the following provisions: 
 (i) If the Common Stock is at the time listed on the Nasdaq Stock Market, then the Fair Market Value shall
be the closing selling price per share of Common Stock on the relevant date, as such price is reported by the National Association of Securities Dealers on the Nasdaq Stock Market and published in The Wall Street Journal. If there is no closing
selling price for Common Stock on the relevant date, then the Fair Market Value shall be the closing selling price on the last preceding date for which such closing selling price exists. 
 (ii) If the Common Stock is at the time listed on any stock exchange, then the Fair Market Value shall be the closing selling price per share of Common
Stock on the relevant date on the stock exchange determined by the Committee to be the primary market for the Common Stock, as such price is officially quoted in the composite tape of transactions on such exchange and published in the Wall Street
Journal. If there is no closing selling price for the Common Stock on the relevant date, then the Fair Market Value shall be the closing selling price on the last preceding date for which such closing selling price exists. 
 (iii) If the Common Stock is at the time neither listed on any stock exchange nor the Nasdaq Stock Market, then the Fair Market Value shall be a value
determined by the Committee, in its sole discretion, by the reasonable application of a reasonable valuation method taking into consideration all available information material to the value of the Company. 
 Notwithstanding anything in this Plan, to the extent that the above definition does not comply with Section 409A, such definition shall be modified, to the extent
required to ensure that this definition complies with the requirements of Section 409A of the Code, as set forth in 

  

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regulations or other regulatory guidance issued under Section 409A of the Code by the appropriate governmental authority and the Plan shall be operated
in accordance with the above definition of Fair Market Value as modified to the extent necessary to ensure that the above definition complies with the definition prescribed in such regulations or other regulatory guidance. 
 (l) “Grant Document” means the written agreement, notice of grant or other documentation governing the grant of a Stock Appreciation
Right under the SAR Plan, in a form approved by the Committee, which shall contain terms and conditions not inconsistent with the SAR Plan and which shall incorporate the SAR Plan by reference. 
 (m) “Participant” means an Eligible Employee selected to receive a Stock Appreciation Right pursuant to the SAR Plan. 
 (n) “SAR Plan” means this 2007 Stock Appreciation Right Plan as set forth herein and as amended and/or restated from time to time.

 (o) “Stock Appreciation Right” means a contractual right granted to a Participant, pursuant to the SAR Plan, to receive
the value of the appreciation of the specified number of shares of Common Stock that were granted over the specified period of time, less the applicable withholding taxes. Such value will be determined by the following formula: ((Fair Market Value
– exercise price) X number of shares) – withholding taxes)), as determined in accordance with the SAR Plan and subject to such other terms and condition as are set forth in the SAR Plan and in the applicable Grant Document. The value will
be provided to Participant in cash, shares of Common Stock or a combination thereof, at the discretion of the Company, and as provided in the Grant Document. 
 (p) “Subsidiary” means a “subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code. 
  

	3.	Administration of the SAR Plan. 

 (a) The SAR
Plan will be governed by and interpreted and construed in accordance with the internal laws of the State of Delaware (without reference to principles of conflicts or choice of law). The captions of sections of the SAR Plan are for reference only and
will not affect the interpretation or construction of the SAR Plan. 
 (b) The SAR Plan will be administered by the Committee. The Committee
has and may exercise such powers and authority of the Board as may be necessary or appropriate for the Committee to carry out its functions as described in the SAR Plan. The Committee shall determine the Eligible Employees to whom, and the time or
times at which, a Stock Appreciation Right may be granted and the number of shares subject to each Stock Appreciation Right. The Committee also has authority (i) to interpret the SAR Plan, (ii) to determine the terms and provisions of the
Stock Appreciate Right and the Grant Document, and (iii) to make all other determinations necessary or advisable for SAR Plan administration. The Committee has authority to prescribe, amend, and rescind rules and regulations relating to the SAR
Plan. All interpretations, determinations, and actions by the Committee will be final, conclusive, and binding upon all parties. 
  

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 (c) No member of the Committee will be liable for any action taken or determination made in good faith by
the Committee with respect to the SAR Plan or any Stock Appreciation Right. 
  

	4.	Grants. 

 The Committee shall determine and
designate from time to time those Eligible Employees who are to be granted a Stock Appreciation Right and the applicable terms, which shall be consistent with the SAR Plan and which shall include, without limitation, the number of shares of the
Stock Appreciation Right, the exercise price and the vesting terms. Each grant of a Stock Appreciation Right will be evidenced by a Grant Document. 
  

	5.	Terms and Conditions of a Stock Appreciation Right. 

 (a) The exercise price of a Stock Appreciation Right shall not be less than 100% of the Fair Market Value of a share of Common Stock on the Date of Grant of such Stock Appreciation Right and such exercise price of any Stock Appreciation
Right may not be reduced after the Date of Grant. 
 (b) A Stock Appreciation Right shall be exercisable at such time and for such numbers of
shares as set forth in the Grant Document. 
 (c) In order to vest in any portion of a Stock Appreciation Right, a Participant must be
employed by the Company or a Subsidiary on the date the Stock Appreciation Right is scheduled to vest. 
 (d) Unless otherwise set forth in
the Grant Document, a Stock Appreciation Right shall vest in a series of 4 equal yearly installments on each anniversary date of the Grant Date, 25% to vest on the first anniversary, 25% to vest on the second anniversary, 25% to vest on the third
anniversary and the final 25% to vest on the fourth anniversary (each date a “Vest Date”). As a Stock Appreciation Right becomes exercisable for an installment, that installment shall remain exercisable as to that vested amount
until the fourth anniversary of the applicable Vest Date. Upon each fourth anniversary date of each Vest Date, that applicable vested portion of a Stock Appreciation Right that has not been exercised by Participant shall expire. The installments
that become exercisable shall not accumulate for any reason, including to remain exercisable. Unless a shorter period is provided in the Grant Document, a Stock Appreciation Right shall expire on the eighth anniversary of the Grant Date. 

(e) Should a Participant’s employment with the Company or a Subsidiary be terminated for any reason, then the vested portion, if any, of a Stock
Appreciation Right shall remain exercisable for a three month period measured from Participant’s last day of employment with the Company or a Subsidiary, except in the event that such termination is due to death or disability, the vested
portion, if any, of a Stock Appreciation Right shall remain exercisable for a twelve month period measured from the last day of employment. At midnight on the date at the end of the applicable period any vested portion of a Stock Appreciation Right
that has not been exercised by Participant shall expire. 
  

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 (f) No additional vesting will occur after the date of Participant’s last day of employment and the
unvested portion, if any, of a Stock Appreciation Right shall immediately terminate, subject to Section 6 (a) and below. 
 (g) A
Participant cannot exercise any portion of a Stock Appreciation Right except during an open trading period for directors, officers and certain other employees designated under the Stock Trading Policy adopted by the Board, a copy of which is
attached to this Plan and incorporated by this reference. 
  

	6.	Adjustment Provisions. 

 (a) The Committee shall
have discretion to provide for the acceleration of any Stock Appreciation Right held by a Participant upon the occurrence of a Change in Control of the Company. Such accelerated vesting may be conditioned on the subsequent termination of the
affected Participant’s employment. Any Stock Appreciation Right accelerated in connection with a Change in Control shall remain fully exercisable until the expiration or sooner termination of the Stock Appreciation Right. 
 (b) The Committee shall have discretion to cancel a Stock Appreciation Right previously granted and give the Participant notice and opportunity to
exercise any vested portion of a Stock Appreciation Right for 30 days prior to such cancellation. 
 (c) Each Stock Appreciation Right that
is assumed in connection with a Change in Control, or is otherwise to continue in effect subsequent to such Change in Control, shall be appropriately adjusted so as to preserve, without increasing, the value of such Stock Appreciation Right.

 (d) Adjustments under this section will be made by the Committee in accordance with the terms of the SAR Plan, whose determination as to
what adjustments, if any, are made will be final, binding, and conclusive. 
  

	7.	General Provisions. 

 (a) Nothing in the SAR Plan or
in any instrument executed pursuant to the SAR Plan will confer upon any Participant any right to continue in the employ of the Company or any of its Subsidiaries or affect the right of the Company or any Subsidiary to terminate the employment of
any Participant at any time and for any reason or no reason, with or without cause and without notice. 
 (b) No shares of Common Stock will
be issued or transferred pursuant to either the grant or vesting of a Stock Appreciation Right and no Participant and no beneficiary or other person claiming under or through such Participant will have any right or title in or to any shares of
Common Stock due to grant or vesting. 
  

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 (c) No right under the SAR Plan, contingent or otherwise, will be transferable or assignable or subject
to any encumbrance, pledge, or charge of any nature except that, under such rules and regulations as the Committee may establish pursuant to the terms of the SAR Plan, a beneficiary may be designated with respect to a Stock Appreciation Right in the
event of death of a Participant. If such beneficiary is the executor or administrator of the estate of the Participant, any rights with respect to such Stock Appreciation Right may be transferred to the person or persons or entity (including a
trust) entitled thereto under the will of the holder of such Stock Appreciation Right. 
 (d) The Grant Document may contain such other
provisions as the Committee may deem advisable. Without limiting the foregoing, and if so authorized by the Committee, the Company may, with the consent of the Participant and at any time or from time to time, cancel all or a portion of any Stock
Appreciation Right granted under the SAR Plan then subject to exercise and discharge its obligation with respect to the Stock Appreciation Right by payment to the Participant of the applicable value amount, either by providing a cash payment, shares
of Common Stock or a combination thereof, at the discretion of the Company. 
 (e) Any shares of Common Stock issued pursuant to the terms
hereof shall be shares that have been reserved for issuance under a stock plan approved by the Company’s stockholders. 
 (f) It is the
intention of the Company that all grants by Plan Committee be in compliance with Section 409A of the Code in all respects and the Plan shall be so construed; provided, however that the Participant shall be solely responsible for and liable for
any tax consequences (including but not limited to any interest or penalties) as a result of participation in the Plan. Neither the Board, nor the Company nor the Committee makes any commitment or guarantee that any federal, state or local tax
treatment will apply or be available to any person participating or eligible to participate hereunder and assumes no liability whatsoever for the tax consequences to the Participants. Notwithstanding anything herein to the contrary, if any amounts
payable hereunder are reasonably determined by the Committee to be “nonqualified deferred compensation” payable to a “specified employee” upon “separation from service” (within the meaning of section 409A of the Code)
then such amounts that would otherwise be payable upon separation from service shall be held and not be paid by the Company upon separation from service, but shall be paid as soon as administratively feasible following the earlier of: (1) the
first day that is six months following the Participant’s separation from service; or (2) Participant’s date of death. Such amounts that would otherwise be payable in installments commencing on separation from service shall be
accumulated and paid in a lump sum on the date that is the earlier of (1) or (2) above and shall be paid in installments thereafter. 
  

	8.	Amendment and Termination. 

 (a) The Board shall
have the power, in its sole discretion, to amend, modify, suspend, or terminate the SAR Plan at any time, subject to the rights of a holder of a Stock Appreciation Right on the date of such action. 
  

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 (b) The Committee may, with the consent of Participant, make such modifications in the terms and
conditions of a Stock Appreciation Right then currently-held by such Participant as it deems advisable. 
 (c) No amendment, suspension or
termination of the SAR Plan will, without the consent of Participant, adversely affect any right or obligation under a Stock Appreciation Right then currently held by to such Participant under the SAR Plan. 
  

	9.	Effective Date of SAR Plan and Duration of SAR Plan. 

 The SAR Plan shall become effective upon its adoption by the Board on September 16, 2008. The SAR Plan will terminate on August 20, 2017. 
  

 7Waiver and Amendment to Loan and Security Agreement

 EXHIBIT 10.1 
 WAIVER AND AMENDMENT 
 TO 
 LOAN AND SECURITY AGREEMENT 
 THIS WAIVER AND AMENDMENT TO LOAN AND SECURITY AGREEMENT (this
“Amendment”) is entered into as of this 15th day of September, 2008, by and among Bioject Medical Technologies, Inc., an
Oregon corporation and Bioject, Inc., each with its principal place of business at 20245 S.W. 95th Ave., Tualatin, OR 97062 USA (individually and collectively, “Borrower”) and PARTNERS FOR
GROWTH, L.P. (“PFG”). Capitalized terms used herein without definition shall have the same meanings given them in the Loan Agreement (as defined below). 
 RECITALS 
 A. Borrower and PFG have entered into that
certain Loan and Security Agreement dated as of August 31, 2007 (as may be amended, restated, or otherwise modified, the “2007 Loan Agreement”) pursuant to which PFG extended advances of money, all of which were repaid
by Borrower on September 3, 2008. 
 B. In addition to the 2007 Loan Agreement, Borrower and PFG are party to a Term Loan and
Security Agreement dated as of March 29, 2006 (the “Convertible Loan Agreement”), under which there is outstanding $1,250,000 in principal (prior to any payment referred to in Section 7.5 hereof) and $2,604.17 in
accrued and unpaid interest as of September 15, 2008, a Loan and Security Agreement dated as of December 11, 2006 (the “Revolving Loan Agreement”), repaid by Borrower on June 11, 2008, and associated
cross-corporate guarantees and security agreements (the “Loan Documents”). 
 C. Borrower and
PFG entered into that certain Forbearance No. 1, Limited Waiver and Modification to Loan and Security Agreement dated as of November 19, 2007, as amended by that certain Amendment to Forbearance No. 1, Limited Waiver and Modification
to Loan and Security Agreement entered into as of December 19, 2007 (collectively, the “2007 Forbearance”). 
 D. Borrower and PFG entered into that certain Forbearance No. 2, Limited Waiver and Modification to Loan and Security Agreement on May 30, 2008 (the “Forbearance”), pursuant to which the parties
entered into certain agreements regarding the conditional restructure of the Convertible Loan Agreement on or before September 15, 2008. 
 E. But for the Forbearance, Borrower would be in default of the financial covenants set forth in the Loan Documents (the “Specified Default”). 
 F. The Forbearance Period under the Forbearance ends September 15, 2008 and Borrower (a) acknowledges the Specified Default,
(b) desires that the Convertible Loan Agreement be amended as contemplated in the Forbearance, and (c) desires that PFG waive the Specified Default upon the terms and conditions set forth herein. 
 G. Subject to the representations and warranties of Borrower herein and upon the terms and conditions set forth in this Amendment, PFG is willing
to amend the terms of the Convertible Loan Agreement and waive the Specified Default. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing Recitals, incorporated by reference herein, and intending to be legally bound, the parties
hereto agree as follows: 
 1. EVENT OF DEFAULT. Borrower acknowledges the
Specified Default. 
  

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 2. WAIVER OF PFG. Subject to Borrower’s performance of this
Amendment and the satisfaction of the conditions set forth in Section 7 hereof, PFG waives Borrower’s non-compliance up to and including the date hereof with the Loan Documents giving rise to the Specified Default and agrees to not
exercise remedies under the Loan Documents as a result thereof. In the event of a breach by Borrower of any of the terms set forth in this Amendment, a failure of any condition set forth in Section 7, or the occurrence after the date hereof of
any Default under the Convertible Loan Agreement, associated security agreements and any associated cross-corporate guaranties, PFG may exercise any remedies available to PFG under the Convertible Loan Agreement, associated security agreements and
any associated cross-corporate guaranties and under applicable law. For purposes of this Amendment, the “Specified Default” shall mean the specific historical Default that PFG is agreeing to waive hereunder as set forth under
Recital E, above. 
 3. AMENDMENT OF CONVERTIBLE LOAN
AGREEMENT. The Convertible Loan Agreement is hereby amended prospectively as follows: 
 3.1 Acknowledgment of
Borrower. Borrower acknowledges its receipt from PFG at the initial Closing of the Convertible Loan the sum of $1,250,000 and that such principal amount remains outstanding on the date hereof (before the specified repayments required to be made
under Section 7.5 as conditions to this Amendment). The relevant provisions of the Convertible Loan Agreement shall be construed accordingly. 
 3.2 Repayment. The first two paragraphs of Section 1 of the Schedule consisting of approximately four lines of text (under the general heading “LOAN (Section 1.1)”) shall be replaced with the following: 
 1. LOAN (Section 1.1): 
  

			
	 	  	The Loan shall consist of a term loan in the original principal amount of $1,250,000, funded in its
entirety on or about March 29, 2006.
		
	    Repayment:	  	The principal amount of the Loan shall be repaid as follows:
		
		  	(1) $137,500 on September 15, 2008;
		
		  	(2) $137,500 on October 1, 2008;
		
		  	(3) in monthly installments of $55,000 commencing October 1, 2008 (and, for the avoidance of doubt, the $55,000 payment due on October 1, 2008 is in addition to the payment required under
clause (2), above); and
		
		  	(4) a final principal payment equal to the principal amount outstanding at the Maturity Date, together with accrued interest thereon, and any and all other monetary Obligations due under this
Loan, on the Maturity Date.
		
		  	Notwithstanding the requirement to tender payments under clause (3), above, within three (3) Business Days of the end of any month in which a payment is due under clause (3), above, PFG may
notify Borrower that it is not requiring a regularly-scheduled principal payment to be made for such month. If Borrower makes such regularly-scheduled principal payment notwithstanding PFG’s notice that no such payment for the month will be
required, or Borrower makes any non-scheduled payment of principal (collectively “Non-Required Principal Payments”), such Non-Required Principal Payments shall be treated as Prepayments under the applicable clause of this Schedule 1,
below.
		
		  	Any reduction in the principal amount of the Loan due to the scheduled principal payments specified above made by Borrower shall reduce the amount of the Loan eligible for PFG conversion into
Borrower’s equity

  

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		  	securities under Section 1 of this Schedule in the provisions identified as “PFG Conversion” and “BMTI-Initiated Conversion”.”

 3.3 Prepayment. The clause entitled “Prepayment” in Section 1 of the
Schedule is amended in its entirety as follows: 
  

			
	 “Prepayment:
	  	Borrower may make a Non-Required Principal Payment, plus all accrued and unpaid interest thereon in whole or in part at any time, without penalty, subject to compliance with the following
provisions. At the time any Non-Required Principal Payment is made, BMTI shall issue PFG a warrant to purchase that number of shares of BMTI’s common stock as would be issued at such time if BMTI or PFG had converted that portion of the Loan
that is equal to the prepayment (each a “Warrant” and all such Warrants collectively, “Warrants”). The exercise price of the Warrant(s) shall be equal to the Conversion Price. The expiration date of each Warrant issued under this
clause shall be the Maturity Date (ignoring any early termination of the Loan due to prepayment or otherwise). The form of Warrant shall be in substantially the form of the warrant issued to PFG in connection with the Existing PFG Loans (as defined
in Section 8 of this Schedule).”

 3.4 Interest Rate. The first paragraph of Section 2 of the Schedule to the Convertible
Loan Agreement is amended to read in its entirety as follows: 
  

			
		 	“A rate equal to the Prime Rate plus three percent (3%) per annum, floating, and applied to the average daily aggregate amount outstanding under this Agreement each month. Interest shall
be calculated on the basis of a 360-day year and a year of twelve months of 30 days each for the actual number of days elapsed. Accrued interest for each month shall be payable monthly, on the first day of each month for interest accrued during the
prior month.”

 3.5 Financial Covenants. To Section 5 of the Convertible Loan Agreement are added the
following new provisions: 
  

			
	“Minimum Liquidity:	  	Borrower shall maintain at all times, to be tested as of the last day of each month, unless otherwise noted:
		
		  	Liquidity Ratio. A minimum Liquidity Ratio of 1.50 : 1.00. “Liquidity Ratio” means a ratio of (a) Borrower’s unrestricted Cash maintained at or through financial
institutions, plus Borrower’s Eligible Accounts, to (b) outstanding monetary Obligations owed to PFG.
		
		  	“Cash” means (i) funds deposited with depositary institutions, (ii) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency
or any State thereof having maturities of not more than one (1) year from the date of acquisition; (iii) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s
Ratings Group or Moody’s Investors Service, Inc., (iv) bank certificates of deposit issued maturing no more than one (1) year after issue; and (v) money market funds at least ninety-five percent (95%) of the assets of which constitute cash
equivalents of the kinds described in clauses (ii) through (iv) of this definition.”

 3.6 Definitions. The following new definitions shall be added to Section 7
(“Definitions”) of the Convertible Loan Agreement: 
  

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 “Eligible Accounts” means Accounts and General Intangibles arising in the ordinary
course of Borrower’s business from the sale of goods or the rendition of services, or the non-exclusive licensing of Intellectual Property, which PFG, in its good faith business judgment, shall deem eligible for borrowing. Without limiting the
fact that the determination of which Accounts are eligible for borrowing is a matter of PFG’s good faith business judgment, the following (the “Minimum Eligibility Requirements”) are the minimum requirements for a Account to be
an Eligible Account: 
 (i) the Account must not be outstanding for more than 90 days from its invoice date (the
“Eligibility Period”), 
 (ii) the Account must not represent progress billings, credit balances, accounting
entries made to nullify a prior entry (contras), or be due under a fulfillment or requirements contract with the Account Debtor, 
 (iii) the Account must not be subject to any contingencies (including Accounts arising from sales on consignment, guaranteed sale or other terms pursuant to which payment by the Account Debtor may be conditional), 
 (iv) the Account must not be owing from an Account Debtor with whom Borrower has any material dispute (whether or not relating to the
particular Account), 
 (v) the Account must not be owing from an Affiliate of Borrower, 
 (vi) the Account must not be owing from an Account Debtor which is subject to any insolvency or bankruptcy proceeding, or whose financial
condition is not acceptable to PFG in its good faith business judgment, or which fails or goes out of a material portion of its business, 
 (vii) the Account must not be owing from the United States or any department, agency or instrumentality thereof (“Government Accounts”), to the extent the aggregate of such Government Accounts exceeds 25% of
Eligible Accounts at any time (unless there has been compliance, to PFG’s satisfaction, with the United States Assignment of Claims Act) and, for the avoidance of doubt, any Government Accounts in excess of such threshold shall not be treated
as Eligible Account unless PFG, in its sole discretion, otherwise expressly permits, 
 (viii) the Account must not be owing
from an Account Debtor located outside the United States or Canada (unless an Excepted Concentration Account, pre-approved by PFG in its discretion in writing, or backed by a letter of credit satisfactory to PFG, or FCIA insured satisfactory to
PFG), 
 (xi) the Account must not be owing from an Account debtor whose accounts receivable aged over 90 days from invoice
date exceed 50% of all accounts receivable from such account debtor, and in such case, no account receivable of such account debtor would be eligible for financing hereunder; and 
 (x) the Account must not be owing from an Account Debtor to whom Borrower is or may be liable for goods purchased from such Account Debtor
or otherwise (but, in such case, the Account will be deemed not eligible only to the extent of any amounts owed by Borrower to such Account Debtor). 
 Accounts owing from one Account Debtor will not be deemed Eligible Accounts to the extent they exceed 25% of the total Accounts outstanding; provided that the foregoing shall not include Excepted Concentration Accounts. In addition, if more
than 50% of the Accounts owing from an Account Debtor are outstanding for a period longer than their Eligibility Period (without regard to unapplied credits) or are otherwise not eligible Accounts, then all Accounts owing from that Account Debtor
will be deemed ineligible for borrowing. PFG may, from time to time, in its good faith business judgment, revise the Minimum Eligibility Requirements, upon written notice to Borrower. 
 “Excepted Concentration Accounts” means Accounts Receivable from Merial, Amgen, Inc. (AMGN: NASDAQ), Ferring and Serono, Inc. (SRA:
NYSE). 
 “Minimum Eligibility Requirements” is defined in the definition of “Eligible Accounts” above.

 3.7 Provisions Dealing with Accounts. To Section 4 of the Convertible Loan Agreement are added the following new provisions:

 “4.10 Representations Relating to Accounts. Borrower represents and warrants to PFG as follows: Each Account used by
Borrower to determine its compliance with the financial covenant set forth in Section 5 of the Schedule shall, (i) represent an undisputed bona fide existing unconditional obligation of the Account Debtor created by the sale, delivery, and
acceptance of goods or the rendition of services, or the licensing of Intellectual 

  

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Property, in the ordinary course of Borrower’s business, and (ii) meet the Minimum Eligibility Requirements set forth in Section 8 below.

 4.11 Representations Relating to Documents and Legal Compliance. Borrower represents and warrants to PFG as follows: All
statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing the Accounts are and shall be true and correct in all material respects and all such invoices, instruments and other documents and all of
Borrower’s books and records are and shall be genuine and in all respects what they purport to be. All sales and other transactions underlying or giving rise to each Account shall comply in all material respects with all applicable laws and
governmental rules and regulations. To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Accounts are and shall be genuine, and all such documents, instruments and
agreements are and shall be legally enforceable in accordance with their terms. 
 4.12 Documents Relating to Accounts. If
requested by PFG, Borrower shall furnish PFG with copies (or, at PFG’s request, originals) of all contracts, orders, invoices, and other similar documents, and all shipping instructions, delivery receipts, bills of lading, and other evidence of
delivery, for any goods the sale or disposition of which gave rise to such Accounts, and Borrower warrants the genuineness of all of the foregoing. Borrower shall also furnish to PFG an aged accounts receivable trial balance as provided in the
Schedule. In addition, Borrower shall deliver to PFG, on its request, the originals of all instruments, chattel paper, security agreements, guarantees and other documents and property evidencing or securing any Accounts, in the same form as
received, with all necessary endorsements, and copies of all credit memos. 
 4.13 Disputes. Borrower shall notify PFG promptly
of all disputes or claims relating to Accounts and the settlement, compromise or forgiveness thereof. 
 4.14 Verification. PFG
may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, by means of mail, telephone or otherwise, either in the name of Borrower or PFG or such other name as PFG
may choose.” 
 3.8 Negative Covenants. To the end of Section 4.6(iv) is added the following clause: 
 “, provided that Borrower shall give PFG advance written notice of any exclusive licensing of Intellectual Property and provided further that the proceeds of such
licensing shall become Collateral subject to the security interest of PFG”. 
 3.9 Events of Default. Section 6.1(b) is
amended to read in its entirety as follows: 
 “(b) Borrower shall fail to pay any principal amount of the Loan or any interest thereon
within three (3) Business Days after the date due (unless such principal payment is not then required by PFG to be paid) or shall fail to pay any other monetary Obligation within five (5) Business Days after the date due; or ”

 3.10 Jury Trial Waiver. Section 8.18 is replaced in its entirety with the following: 
 “8.18 Mutual Waiver of Jury Trial. BORROWER AND PFG EACH HEREBY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED
UPON, ARISING OUT OF, OR IN ANY WAY RELATING TO, THIS AGREEMENT OR ANY OTHER PRESENT OR FUTURE INSTRUMENT OR AGREEMENT BETWEEN PFG AND BORROWER, OR ANY CONDUCT, ACTS OR OMISSIONS OF PFG OR BORROWER OR ANY OF THEIR DIRECTORS, OFFICERS, EMPLOYEES,
AGENTS, ATTORNEYS OR ANY OTHER PERSONS AFFILIATED WITH PFG OR BORROWER, IN ALL OF THE FOREGOING CASES, WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE. WITHOUT INTENDING IN ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE
RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable under applicable law, the parties hereto agree that any and all disputes or controversies of any nature between them arising at any time shall be
decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the San Francisco County, California Superior Court) appointed 

  

 5 

 
in accordance with California Code of Civil Procedure Section 638 (or pursuant to comparable provisions of federal law if the dispute falls within the
exclusive jurisdiction of the federal courts), sitting without a jury, in San Francisco County, California; and the parties hereby submit to the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance
with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall have the power, among others, to grant provisional relief, including without limitation, entering temporary restraining
orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a
party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the San Francisco County, California Superior Court for such relief. The
proceeding before the private judge shall be conducted in the same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same
manner as it would be before a court under the rules of discovery applicable to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and order applicable to judicial proceedings in the same manner as a
trial court judge. The parties agree that the selected or appointed private judge shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to the
California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also
determine all issues relating to the applicability, interpretation, and enforceability of this paragraph.” 
 3.11 Reporting.
Section 6 of the Schedule is replaced in its entirety with the following: 
  

			
	 “6. REPORTING.
	 	
	(Section 4.4):	 	
		
		 	Borrower shall provide PFG with the following:
		
		 	 (a)     Monthly accounts receivable agings, aged by invoice date, within five (5) Business Days after the end of
each month.

		
		 	 (b)     Monthly accounts payable agings, aged by invoice date, and outstanding or held check registers, if any,
within five (5) Business Days after the end of each month.

		
		 	 (c)     Monthly reconciliations of accounts receivable agings (aged by invoice date), and general ledger, within five
(5) Business Days after the end of each month.

		
		 	 (d)     Monthly perpetual inventory reports for the Inventory valued on a first-in, first-out basis at the lower of
cost or market (in accordance with GAAP) or such other inventory reports as are requested by PFG in its good faith business judgment, all within ten (10) Business Days after the end of each month.

		
		 	 (e)     Monthly unaudited, management-prepared financial statements prepared in accordance with GAAP, within ten
(10) Business Days after the end of each month.

		
		 	 (f)      Monthly Compliance Certificates, within ten (10) Business Days after the end of each month, in
such form as PFG shall reasonably specify, signed by the Chief Financial Officer of Borrower, certifying that as of the end of such month Borrower was in full compliance with all of the terms and conditions of this Agreement, and setting forth
calculations showing compliance with the

  

 6 

			
		  	 financial covenants set forth in this Agreement and such other information as PFG shall reasonably request, including, without limitation, a statement that at
the end of such month there were no held checks.

		
		  	 (g)     Quarterly financial statements, as soon as available, and in any event within forty-five days after the end
of each fiscal quarter of Borrower (other than the last fiscal quarter in any year); provided, however, if Borrower files a form 10-Q with the Securities and Exchange Commission and the same is available within said period through EDGAR, such
availability will satisfy this requirement.

		
		  	 (h)     A quarterly information update certificate, in the form of an update of the Representations, unless such
information is otherwise included as part of a Borrowing Base or Monthly Compliance Certificate, within the earlier to occur of ten (10) Business Days after the end of each fiscal quarter of Borrower or promptly following the knowledge of any
executive officer of Borrower that the Representations are no longer true, complete and accurate.

		
		  	 (j)      Annual financial statements, as soon as available, and in any event within 120 days following the end
of Borrower’s fiscal year, certified by, and with an unqualified opinion of, independent auditors reasonably acceptable to PFG; provided, however, if Borrower files a form 10-K with the Securities and Exchange Commission and the same is
available within said period through EDGAR, such availability will satisfy this requirement; provided, further, that for purposes of this provision an opinion will be considered “unqualified” even though it has a “going concern”
qualification.”

 4. BORROWER’ REPRESENTATIONS AND
WARRANTIES. Borrower represents and warrants that: 
 (a) immediately upon giving
effect to this Amendment (i) the representations and warranties contained in the Loan Documents are true, accurate and complete (i.e., do not omit to state a material fact necessary in order to make the statements made, in light of the
circumstances which they were made, not misleading) in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they were true and correct as of such date), and
(ii) no Event of Default has occurred and is continuing, other than the Default(s) waived pursuant to this Amendment; 
 (b) Borrower has the corporate power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Documents, as amended by this Amendment; 
 (c) the articles of incorporation, bylaws and other organizational documents of Borrower delivered to PFG on the Effective Date
remain true, accurate and complete and have not been amended (other than as disclosed in Borrower’s SEC filings), supplemented or restated and are and continue to be in full force and effect; 
 (d) the execution, delivery and performance by Borrower of this Amendment have been duly authorized by all necessary corporate
action on the part of Borrower; 
 (e) this Amendment has been duly executed and delivered by Borrower and is the
binding obligation of Borrower, enforceable against it in accordance with its terms, except as such enforceability 

  

 7 

 
may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles
relating to or affecting creditors’ rights; and 
 (f) as of the date hereof, it has no known defenses against the
obligations to pay any amounts under the Obligations and it has no known claims of any kind against PFG. Borrower acknowledges that, to its knowledge, PFG has acted in good faith and has conducted in a commercially reasonable manner its
relationships with Borrower in connection with this Amendment and in connection with the Loan Documents. For purposes hereof, the term “knowledge” (and derivative terms) means the actual knowledge of any executive officer of Borrower or
such knowledge as a reasonably prudent executive officer of a U.S. publicly-traded corporation would have if such executive officer exercised reasonable diligence in the performance of his or her legal duties and responsibilities. 
 Borrower understands and acknowledges that PFG is entering into this Amendment in reliance upon, and in partial consideration for, the above
representations and warranties. 
 5. RELEASE. Borrower hereby forever relieves, releases, and discharges PFG and its
present or former employees, officers, directors, agents, representatives, attorneys, and each of them, from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, costs and expenses, actions and causes of action,
of every type, kind, nature, description or character, whether known or unknown, suspected or unsuspected, absolute or contingent, arising out of or in any manner connected with or related to facts, circumstances, issues, controversies or claims
existing or arising from the beginning of time through and including the date of execution of this Amendment(collectively “Released Claims”). Without limiting the foregoing, the Released Claims shall include any and all
liabilities or claims (except for those arising from gross negligence or intentional misconduct in relation to any confidentiality obligations PFG may have in respect of Borrower) arising out of or in any manner connected with or related to the Loan
Documents, the Recitals hereto, any instruments, agreements or documents executed in connection with any of the foregoing or the origination, negotiation, administration, servicing and/or enforcement of any of the foregoing. In furtherance of this
release, Borrower expressly acknowledges and waives any and all rights under Section 1542 of the California Civil Code, which provides as follows: “A general release does not extend to claims which the creditor does not know or
expect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.” By entering into this release, Borrower recognizes that no facts or representations are ever
absolutely certain and it may hereafter discover facts in addition to or different from those which it presently knows or believes to be true, but that it is the intention of Borrower hereby to fully, finally and forever settle and release all
matters, disputes and differences, known or unknown, suspected or unsuspected; accordingly, if any Borrower should subsequently discover that any fact that it relied upon in entering into this release was untrue, or that any understanding of the
facts was incorrect, neither Borrower shall be entitled to set aside this release by reason thereof, regardless of any claim of mistake of fact or law or any other circumstances. Borrower acknowledges that it is not relying upon and has not relied
upon any representation or statement made by PFG with respect to the facts underlying this release or with regard to any of such party’s rights or asserted rights. This release may be pleaded as a full and complete defense and/or as a
cross-complaint or counterclaim against any action, suit, or other proceeding that may be instituted, prosecuted or attempted in breach of this release. Borrower acknowledges that the release contained herein constitutes a material inducement to PFG
to enter into this Amendment, and that PFG would not have done so but for PFG’s expectation that such release is valid and enforceable in all events. Borrower hereby represents and warrants to PFG, and PFG is relying thereon, as follows:
(i) except as expressly stated in this Amendment, neither PFG nor any agent, employee or representative of PFG has made any statement or representation to any Borrower regarding any fact relied upon by any Borrower in entering into this
Amendment; (ii) Borrower has made such investigation of the facts pertaining to this Amendment and all of the matters appertaining thereto, as it deems necessary; (iii) the terms of this Amendment are contractual and not a mere recital;
(iv) this Amendment has been carefully read by Borrower, the contents hereof are known and understood by Borrower, and this Amendment is signed freely, and without duress, by Borrower; (v) Borrower represents and warrants that it is the
sole and lawful owner of all right, title and interest in and to every claim and every other matter which it releases herein, and that it has not heretofore assigned or transferred, or purported to assign or transfer, to any person, firm or entity
any claims or other matters herein released. Borrower shall indemnify PFG, defend and hold it harmless from and against all claims based upon or arising in connection with prior assignments or purported assignments or transfers of any claims or
matters released herein. 
  

 8 

 6. LIMITATION. The forbearance, conditional limited waivers and
amendments set forth in this Amendment shall be limited precisely as written and shall not be deemed (a) to be a forbearance, waiver or modification of any other term or condition of the Loan Agreement or of any other instrument or agreement
referred to therein or to prejudice any right or remedy which PFG may now have or may have in the future under or in connection with the Loan Agreement or any instrument or agreement referred to therein; (b) to be a consent to any future
amendment or modification, forbearance or waiver to any instrument or agreement the execution and delivery of which is consented to hereby, or to any waiver of any of the provisions thereof; or (c) to limit or impair PFG’s right to
demand strict performance of all terms and covenants as of any date. Except as expressly amended hereby, the Loan Agreement shall continue in full force and effect. 
 7. EFFECTIVENESS. Subject to the satisfaction of the conditions precedent set forth below, this Amendment shall become effective on the date hereof, but shall continue to be
subject to the satisfaction of all the following conditions: 
 7.1 Execution and Delivery. Borrower and PFG shall have
duly executed and delivered this Amendment and all Amendments to PFG; 
 7.2 Payment of PFG Expenses. All PFG Expenses
(including all reasonable attorneys’ fees and reasonable expenses) incurred in connection with this Amendment shall immediately become a part of the Borrower’s Obligations and shall be due and payable upon PFG demand. 
 7.3 Further Assurances. Borrower shall execute and deliver such amendments, documents and instruments as are necessary or
appropriate to effect the conditions to this Amendment, including without limitation, the Amendments. 
 7.4 Compliance
Certificate. Borrower shall have delivered to PFG a Compliance Certificate. 
 7.5 Partial Repayment of Principal.
Borrower shall have made agreed principal payments of $137,500 on the date hereof and $137,500 on October 1, 2008, leaving a principal balance of $975,000 under the Loan, before reflecting the scheduled principal payment of $55,000 also due on
October 1, 2008, as set forth in Section 3.2 of this Amendment. 
 8. COUNTERPARTS. This
Amendment may be signed in any number of counterparts, and by different parties hereto in separate counterparts, with the same effect as if the signatures to each such counterpart were upon a single instrument. All counterparts shall be deemed an
original of this Amendment. 
 9. INTEGRATION; CONSTRUCTION. This Amendment, the
Amendments and any other documents executed in connection herewith or therewith or pursuant hereto or thereto contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements,
understandings, offers and negotiations, oral or written, with respect thereto and no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding, if any, involving this Amendment; except that any financing statements
or other agreements or instruments filed by PFG with respect to Borrower shall remain in full force and effect. The title of this Agreement and section headings are for the readers’ convenience only and shall be ignored for purposes of
integration into the Loan Agreement. The term “Schedule” means the Schedule to the Loan Agreement. Quotation marks around new provisions to be incorporated into or amendments to be made to the existing terms of the Convertible Loan
Agreement are for the convenience of the reader only. 
 10. Severability. If one or more provisions of this Agreement are held to be
unenforceable or are in violation of any applicable law or stock exchange rules or regulations to which either Borrower of PFG is subject, the parties agree to renegotiate such provision in good faith, in order to maintain the economic position
enjoyed by each party as close as possible to that under the provision rendered unenforceable or that is in violation. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such
provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

  

 9 

 11. GOVERNING LAW; VENUE; DISPUTE
RESOLUTION. THIS AMENDMENT SHALL BE GOVERNED BY AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA. Borrower and PFG each submit to the exclusive jurisdiction of the State and Federal courts
in San Francisco County, California. 
 TO THE EXTENT PERMITTED BY APPLICABLE LAW, PFG AND BORROWER EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF
ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS
AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 WITHOUT INTENDING IN ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO
WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them arising at any time shall be
decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the San Francisco County, California Superior Court) appointed in accordance with California Code of Civil Procedure
Section 638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in San Francisco County, California; and the parties hereby submit to the
jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall have the power, among
others, to grant provisional relief, including without limitation, entering temporary restraining orders and issuing preliminary and permanent injunctions. All such proceedings shall be closed to the public and confidential and all records relating
thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the
San Francisco County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties
shall be entitled to discovery which, other than a limitation of not more than 3 depositions per party of not more than 5 hours each, shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to
judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and order applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private
judge shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to the California Code of Civil Procedure § 644(a). The private judge shall also
determine all issues relating to the applicability, interpretation, and enforceability of this paragraph and may grant appropriate relief from the terms of this paragraph for good cause shown. 
 [SIGNATURE PAGE FOLLOWS] 
  

 10 

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

									
	    BORROWER:	 		 	BIOJECT, INC.
		 		 	an Oregon corporation
					
		 		 		 	By:	 	/s/ Christine M. Farrell
		 		 		 	Printed Name:	 	Christine M. Farrell
		 		 		 	Title:	 	Vice President of Finance
			
	    BORROWER:	 		 	BIOJECT MEDICAL TECHNOLOGIES, INC.
		 		 	an Oregon corporation
					
		 		 		 	By:	 	/s/ Christine M. Farrell
		 		 		 	Printed Name:	 	Christine M. Farrell
		 		 		 	Title:	 	Vice President of Finance
			
	    PFG:	 		 	PARTNERS FOR GROWTH, L.P.
					
		 		 		 	By:	 	/s/ Lorraine Nield
		 		 		 	Printed Name:	 	Lorranie Nield
		 		 		 	Title:	 	Manager, Partners for Growth, LLC, its General Partner

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