Document:

Exhibit 4.3

 

 

 

*#########000004571681580509012017*

 

COMMERCIAL SECURITY AGREEMENT

 

 

	Principal	Loan Date	Maturity	Loan No	Call / Coll	Account	Officer	Initials
	 	 	 	 	 	 	 	 
	$4,450,000.00	09-01-2017	08-01-2018	4571681	 	 	274722

	 

 

References in the boxes above are for
Lender's use only and do not limit the applicability of this document to any particular loan or item.

 

Any item above containing "***"
has been omitted due to text length limitations.

 

 

	Grantor:	
        Dougherty's Holdings, Inc.; DOUGHERTY'S PHARMACY,
        INC.; Dougherty's Pharmacy El Paso, LLC; Dougherty's Pharmacy McAlester, LLC; Dougherty's Pharmacy Forest Park Dallas, LLC; and
        Dougherty's Pharmacy Springtown, LLC

        5924 Royal Lane Ste 250

        Dallas, TX 75230
	Lender:	
        First National Bank of Omaha 

        Branch #042

        4500 Preston Road

        Frisco, TX 75034

 

THIS COMMERCIAL SECURITY AGREEMENT
dated August 9, 2017, is made and executed between Dougherty's Holdings, Inc.; DOUGHERTY'S PHARMACY, INC.; Dougherty's Pharmacy
El Paso, LLC; Dougherty's Pharmacy McAlester, LLC; Dougherty's Pharmacy Forest Park Dallas, LLC; and Dougherty's Pharmacy Springtown,
LLC ("Grantor") and First National Bank of Omaha ("Lender").

 

GRANT OF SECURITY INTEREST.
For valuable consideration, Grantor grants to Lender a security interest in the Collateral to secure the Indebtedness and agrees
that Lender shall have the rights stated in this Agreement with respect to the Collateral, in addition to all other rights which
Lender may have by law.

 

COLLATERAL DESCRIPTION.
The word "Collateral" as used in this Agreement means the following described property, whether now owned or hereafter
acquired, whether now existing or hereafter arising, and wherever located, in which Grantor is giving to Lender a security interest
for the payment of the Indebtedness and performance of all other obligations under the Note and this Agreement:

 

All inventory, equipment, accounts
(including but not limited to all health-care-insurance receivables), chattel paper, instruments (including but not limited to
all promissory notes), letter-of-credit rights, letters of credit, documents, deposit accounts, investment property, money, other
rights to payment and performance, and general intangibles (including but not limited to all software and all payment intangibles);
all oil, gas and other minerals before extraction; all oil, gas, other minerals and accounts constituting as-extracted collateral;
all fixtures and building materials; all timber to be cut; all attachments, accessions, accessories, fittings, increases, tools,
parts, repairs, supplies, and commingled goods relating to the foregoing property, and all additions, replacements of and substitutions
for all or any part of the foregoing property; all insurance refunds relating to the foregoing property; all good will relating
to the foregoing property; all records and data and embedded software relating to the foregoing property, and all equipment, inventory
and software to utilize, create, maintain and process any such records and data on electronic media; and all supporting obligations
relating to the foregoing property; all whether now existing or hereafter arising, whether now owned or hereafter acquired or whether
now or hereafter subject to any rights in the foregoing property; and all products and proceeds (including but not limited to all
insurance payments) of or relating to the foregoing property.

 

 

 

    	 	1	 

     

    

 

In addition, the word "Collateral"
also includes all the following, whether now owned or hereafter acquired, whether now existing or hereafter arising, and wherever
located:

 

(A) All accessions, attachments,
accessories, tools, parts, supplies, replacements of and additions to any of the collateral described herein, whether added now
or later.

 

(B) All products and produce of
any of the property described in this Collateral section.

 

(C) All accounts, general intangibles,
instruments, rents, monies, payments, and all other rights, arising out of a sale, lease, consignment or other disposition of any
of the property described in this Collateral section.

 

(D) All proceeds (including insurance
proceeds) from the sale, destruction, loss, or other disposition of any of the property described in this Collateral section, and
sums due from a third party who has damaged or destroyed the Collateral or from that party's insurer, whether due to judgment,
settlement or other process.

 

(E) All records and data relating
to any of the property described in this Collateral section, whether in the form of a writing, photograph, microfilm, microfiche,
or electronic media, together with all of Grantor's right, title, and interest in and to all computer software required to utilize,
create, maintain, and process any such records or data on electronic media.

 

CROSS-COLLATERALIZATION.
In addition to the Note, this Agreement secures all obligations, debts and liabilities, plus interest thereon, of Grantor to Lender,
or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether now existing or
hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not
due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be
liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise. However,
this Agreement shall not secure, and the "Indebtedness" shall not include, any obligations arising under Subchapters
E and F of Chapter 342 of the Texas Finance Code, as amended.

 

FUTURE ADVANCES. In addition
to the Note, this Agreement secures all future advances made by Lender to Grantor regardless of whether the advances are made a)
pursuant to a commitment or b) for the same purposes.

 

RIGHT OF SETOFF. To the
extent permitted by applicable law, Lender reserves a right of setoff in all Grantor's accounts with Lender (whether checking,
savings, or some other account). This includes all accounts Grantor holds jointly with someone else and all accounts Grantor may
open in the future. However, this does not include any IRA or Keogh accounts, or any trust accounts for which setoff would be prohibited
by law. Grantor authorizes Lender, to the extent permitted by applicable law, to charge or setoff all sums owing on the Indebtedness
against any and all such accounts, and, at Lender's option, to administratively freeze all such accounts to allow Lender to protect
Lender's charge and setoff rights provided in this paragraph.

 

GRANTOR'S REPRESENTATIONS AND
WARRANTIES WITH RESPECT TO THE COLLATERAL. With respect to the Collateral, Grantor represents and promises to Lender that:

 

Perfection of Security Interest.
Grantor agrees to take whatever actions are requested by Lender to perfect and continue Lender's security interest in the Collateral.
Upon request of Lender, Grantor will deliver to Lender any and all of the documents evidencing or constituting the Collateral,
and Grantor will note Lender's interest upon any and all chattel paper and instruments if not delivered to Lender for possession
by Lender. This is a continuing Security Agreement and will continue in effect even though all or any part of the Indebtedness
is paid in full and even though for a period of time Grantor may not be indebted to Lender.

 

 

 

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Notices to Lender. Grantor
will promptly notify Lender in writing at Lender's address shown above (or such other addresses as Lender may designate from time
to time) prior to any (1) change in Grantor's name; (2) change in Grantor's assumed business name(s); (3) change in the management
of any Corporation or in the management or in the members or managers of the limited liability company Grantor; (4) change in the
authorized signer(s); (5) change in Grantor's principal office address; (6) change in Grantor's state of organization; (7) conversion
of Grantor to a new or different type of business entity; or (8) change in any other aspect of Grantor that directly or indirectly
relates to any agreements between Grantor and Lender. No change in Grantor's name or state of organization will take effect until
after Lender has received notice.

 

No Violation. The execution
and delivery of this Agreement will not violate any law or agreement governing Grantor or to which Grantor is a party, and its
certificate or articles of incorporation and bylaws do not prohibit any term or condition of this Agreement, and its membership
agreement does not prohibit any term or condition of this Agreement.

 

Enforceability of Collateral.
To the extent the Collateral consists of accounts, chattel paper, or general intangibles, as defined by the Uniform Commercial
Code, the Collateral is enforceable in accordance with its terms, is genuine, and fully complies with all applicable laws and regulations
concerning form, content and manner of preparation and execution, and all persons appearing to be obligated on the Collateral have
authority and capacity to contract and are in fact obligated as they appear to be on the Collateral. At the time any account becomes
subject to a security interest in favor of Lender, the account shall be a good and valid account representing an undisputed, bona
fide indebtedness incurred by the account debtor, for merchandise held subject to delivery instructions or previously shipped or
delivered pursuant to a contract of sale, or for services previously performed by Grantor with or for the account debtor. So long
as this Agreement remains in effect, Grantor shall not, without Lender's prior written consent, compromise, settle, adjust, or
extend payment under or with regard to any such Accounts. There shall be no setoffs or counterclaims against any of the Collateral,
and no agreement shall have been made under which any deductions or discounts may be claimed concerning the Collateral except those
disclosed to Lender in writing.

 

Location of the Collateral.
Except in the ordinary course of Grantor's business, Grantor agrees to keep the Collateral (or to the extent the Collateral consists
of intangible property such as accounts or general intangibles, the records concerning the Collateral) at Grantor's address shown
above or at such other locations as are acceptable to Lender. Upon Lender's request, Grantor will deliver to Lender in form satisfactory
to Lender a schedule of real properties and Collateral locations relating to Grantor's operations, including without limitation
the following: (1) all real property Grantor owns or is purchasing; (2) all real property Grantor is renting or leasing; (3) all
storage facilities Grantor owns, rents, leases, or uses; and (4) all other properties where Collateral is or may be located.

 

Removal of the Collateral.
Except in the ordinary course of Grantor's business, including the sales of inventory, Grantor shall not remove the Collateral
from its existing location without Lender's prior written consent. To the extent that the Collateral consists of vehicles, or other
titled property, Grantor shall not take or permit any action which would require application for certificates of title for the
vehicles outside the State of Texas, without Lender's prior written consent. Grantor shall, whenever requested, advise Lender of
the exact location of the Collateral.

 

Transactions Involving Collateral.
Except for inventory sold or accounts collected in the ordinary course of Grantor's business, or as otherwise provided for in this
Agreement, Grantor shall not sell, offer to sell, or otherwise transfer or dispose of the Collateral. While Grantor is not in default
under this Agreement, Grantor may sell inventory, but only in the ordinary course of its business and only to buyers who qualify
as a buyer in the ordinary course of business. A sale in the ordinary course of Grantor's business does not include a transfer
in partial or total satisfaction of a debt or any bulk sale. Grantor shall not pledge, mortgage, encumber or otherwise permit the
Collateral to be subject to any lien, security interest, encumbrance, or charge, other than the security interest provided for
in this Agreement, without the prior written consent of Lender. This includes security interests even if junior in right to the
security interests granted under this Agreement. Unless waived by Lender, all proceeds from any disposition of the Collateral (for
whatever reason) shall be held in trust for Lender and shall not be commingled with any other funds; provided however, this requirement
shall not constitute consent by Lender to any sale or other disposition. Upon receipt, Grantor shall immediately deliver any such
proceeds to Lender.

 

 

 

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Title. Grantor represents
and warrants to Lender that Grantor holds good and marketable title to the Collateral, free and clear of all liens and encumbrances
except for the lien of this Agreement. No financing statement covering any of the Collateral is on file in any public office other
than those which reflect the security interest created by this Agreement or to which Lender has specifically consented. Grantor
shall defend Lender's rights in the Collateral against the claims and demands of all other persons.

 

Repairs and Maintenance.
Grantor agrees to keep and maintain, and to cause others to keep and maintain, the Collateral in good order, repair and condition
at all times while this Agreement remains in effect. Grantor further agrees to pay when due all claims for work done on, or services
rendered or material furnished in connection with the Collateral so that no lien or encumbrance may ever attach to or be filed
against the Collateral.

 

Inspection of Collateral.
Lender and Lender's designated representatives and agents shall have the right at all reasonable times to examine and inspect the
Collateral wherever located.

 

Taxes, Assessments and Liens.
Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon
any promissory note or notes evidencing the Indebtedness, or upon any of the other Related Documents. Grantor may withhold any
such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation
to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. In any contest Grantor shall
defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall
name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Grantor further agrees to furnish
Lender with evidence that such taxes, assessments, and governmental and other charges have been paid in full and in a timely manner.
Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding
to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized.

 

Compliance with Governmental
Requirements. Grantor shall comply promptly with all laws, ordinances, rules and regulations of all governmental authorities,
now or hereafter in effect, applicable to the ownership, production, disposition, or use of the Collateral, including all laws
or regulations relating to the undue erosion of highly-erodible land or relating to the conversion of wetlands for the production
of an agricultural product or commodity. Grantor may contest in good faith any such law, ordinance or regulation and withhold compliance
during any proceeding, including appropriate appeals, so long as Lender's interest in the Collateral, in Lender's opinion, is not
jeopardized.

 

Hazardous Substances. Grantor
represents and warrants that the Collateral never has been, and never will be so long as this Agreement remains a lien on the Collateral,
used in violation of any Environmental Laws or for the generation, manufacture, storage, transportation, treatment, disposal, release
or threatened release of any Hazardous Substance. The representations and warranties contained herein are based on Grantor's due
diligence in investigating the Collateral for Hazardous Substances. Grantor hereby (1) releases and waives any future claims against
Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any Environmental Laws,
and (2) agrees to indemnify, defend, and hold harmless Lender against any and all claims and losses resulting from a breach of
this provision of this Agreement. This obligation to indemnify and defend shall survive the payment of the Indebtedness and the
satisfaction of this Agreement.

 

Maintenance of Casualty Insurance.
Grantor shall procure and maintain all risks insurance, including without limitation fire, theft and liability coverage together
with such other insurance as Lender may require with respect to the Collateral, in form, amounts, coverages and basis reasonably
acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of
insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at
least thirty (30) days' prior written notice to Lender and not including any disclaimer of the insurer's liability for failure
to give such a notice. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will
not be impaired in any way by any act, omission or default of Grantor or any other person. In connection with all policies covering
assets in which Lender holds or is offered a security interest, Grantor will provide Lender with such loss payable or other endorsements
as Lender may require. If Grantor at any time fails to obtain or maintain any insurance as required under this Agreement, Lender
may (but shall not be obligated to) obtain such insurance as Lender deems appropriate, including if Lender so chooses "single
interest insurance," which will cover only Lender's interest in the Collateral.

 

 

 

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Application of Insurance Proceeds.
Grantor shall promptly notify Lender of any loss or damage to the Collateral, whether or not such casualty or loss is covered by
insurance. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any
insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents
to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse
Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement
of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance
to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed
to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

 

Insurance Reserves. Lender
may require Grantor to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly
payments from Grantor of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due
date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds
are insufficient, Grantor shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general
deposit and shall constitute a non-interest-bearing account which Lender may satisfy by payment of the insurance premiums required
to be paid by Grantor as they become due. Lender does not hold the reserve funds in trust for Grantor, and Lender is not the agent
of Grantor for payment of the insurance premiums required to be paid by Grantor. The responsibility for the payment of premiums
shall remain Grantor's sole responsibility.

 

Insurance Reports. Grantor,
upon request of Lender, shall furnish to Lender reports on each existing policy of insurance showing such information as Lender
may reasonably request including the following: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy;
(4) the property insured; (5) the then current value on the basis of which insurance has been obtained and the manner of determining
that value; and (6) the expiration date of the policy. In addition, Grantor shall upon request by Lender (however not more often
than annually) have an independent appraiser satisfactory to Lender determine, as applicable, the cash value or replacement cost
of the Collateral.

 

Financing Statements. Grantor
authorizes Lender to file a UCC financing statement, or alternatively, a copy of this Agreement to perfect Lender's security interest.
At Lender's request, Grantor additionally agrees to sign all other documents that are necessary to perfect, protect, and continue
Lender's security interest in the Property. Grantor will pay all filing fees, title transfer fees, and other fees and costs involved
unless prohibited by law or unless Lender is required by law to pay such fees and costs. Grantor irrevocably appoints Lender to
execute documents necessary to transfer title if there is a default. Lender may file a copy of this Agreement as a financing statement.

 

GRANTOR'S RIGHT TO POSSESSION
AND TO COLLECT ACCOUNTS. Until default and except as otherwise provided below with respect to accounts, Grantor may have possession
of the tangible personal property and beneficial use of all the Collateral and may use it in any lawful manner not inconsistent
with this Agreement or the Related Documents, provided that Grantor's right to possession and beneficial use shall not apply to
any Collateral where possession of the Collateral by Lender is required by law to perfect Lender's security interest in such Collateral.
Until otherwise notified by Lender, Grantor may collect any of the Collateral consisting of accounts. At any time and even though
no Event of Default exists, Lender may exercise its rights to collect the accounts and to notify account debtors to make payments
directly to Lender for application to the Indebtedness. If Lender at any time has possession of any Collateral, whether before
or after an Event of Default, Lender shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral
if Lender takes such action for that purpose as Grantor shall request or as Lender, in Lender's sole discretion, shall deem appropriate
under the circumstances, but failure to honor any request by Grantor shall not of itself be deemed to be a failure to exercise
reasonable care. Lender shall not be required to take any steps necessary to preserve any rights in the Collateral against prior
parties, nor to protect, preserve or maintain any security interest given to secure the Indebtedness.

 

 

 

    	 	5	 

     

    

 

LENDER'S EXPENDITURES.
If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Grantor fails to
comply with any provision of this Agreement or any Related Documents, including but not limited to Grantor's failure to discharge
or pay when due any amounts Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Grantor's
behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging
or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Collateral and
paying all costs for insuring, maintaining and preserving the Collateral. All such expenditures paid by Lender for such purposes
will then bear interest at the Note rate from the date paid by Lender to the date of repayment by Grantor. To the extent permitted
by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand;
(B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during
either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment
which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall
be in addition to all other rights and remedies to which Lender may be entitled upon Default.

 

DEFAULT. Each of the following
shall constitute an Event of Default under this Agreement:

 

Payment Default. Grantor
fails to make any payment when due under the Indebtedness.

 

Other Defaults. Grantor
fails to comply with or to perform any other term, obligation, covenant or condition contained in this Agreement or in any of the
Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement
between Lender and Grantor.

 

Default in Favor of Third Parties.
Any guarantor or Grantor defaults under any loan, extension of credit, security agreement, purchase or sales agreement, or any
other agreement, in favor of any other creditor or person that may materially affect any of any guarantor's or Grantor's property
or ability to perform their respective obligations under this Agreement or any of the Related Documents.

 

False Statements. Any warranty,
representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Agreement or the Related Documents
is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any
time thereafter.

 

Defective Collateralization.
This Agreement or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document
to create a valid and perfected security interest or lien) at any time and for any reason.

 

Insolvency. The dissolution
or termination of Grantor's existence as a going business, the insolvency of Grantor, the appointment of a receiver for any part
of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding
under any bankruptcy or insolvency laws by or against Grantor.

 

Creditor or Forfeiture Proceedings.
Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method,
by any creditor of Grantor or by any governmental agency against any collateral securing the Indebtedness. This includes a garnishment
of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there
is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture
proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies
or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being
an adequate reserve or bond for the dispute.

 

Events Affecting Guarantor.
Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or Guarantor dies or becomes incompetent
or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness.

 

 

 

    	 	6	 

     

    

 

Adverse Change. A material
adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness
is impaired.

 

Insecurity. Lender in good
faith believes itself insecure.

 

RIGHTS AND REMEDIES ON DEFAULT.
If an Event of Default occurs under this Agreement, at any time thereafter, Lender shall have all the rights of a secured party
under the Texas Uniform Commercial Code. In addition and without limitation, Lender may exercise any one or more of the following
rights and remedies:

 

Accelerate Indebtedness.
Lender may declare the entire Indebtedness immediately due and payable, without notice of any kind to Grantor.

 

Assemble Collateral. Lender
may require Grantor to deliver to Lender all or any portion of the Collateral and any and all certificates of title and other documents
relating to the Collateral. Lender may require Grantor to assemble the Collateral and make it available to Lender at a place to
be designated by Lender. Lender also shall have full power to enter, provided Lender does so without a breach of the peace or a
trespass, upon the property of Grantor to take possession of and remove the Collateral. If the Collateral contains other goods
not covered by this Agreement at the time of repossession, Grantor agrees Lender may take such other goods, provided that Lender
makes reasonable efforts to return them to Grantor after repossession.

 

Sell the Collateral. Lender
shall have full power to sell, lease, transfer, or otherwise deal with the Collateral or proceeds thereof in Lender's own name
or that of Grantor. Lender may sell the Collateral at public auction or private sale. Unless the Collateral threatens to decline
speedily in value or is of a type customarily sold on a recognized market, Lender will give Grantor, and other persons as required
by law, reasonable notice of the time and place of any public sale, or the time after which any private sale or any other disposition
of the Collateral is to be made. However, no notice need be provided to any person who, after Event of Default occurs, enters into
and authenticates an agreement waiving that person's right to notification of sale. The requirements of reasonable notice shall
be met if such notice is given at least ten (10) days before the time of the sale or disposition. All expenses relating to the
disposition of the Collateral, including without limitation the expenses of retaking, holding, insuring, preparing for sale and
selling the Collateral, shall become a part of the Indebtedness secured by this Agreement and shall be payable on demand, with
interest at the Note rate from date of expenditure until repaid.

 

Appoint Receiver. Lender
shall have the right to have a receiver appointed to take possession of all or any part of the Collateral, with the power to protect
and preserve the Collateral, to operate the Collateral preceding foreclosure or sale, and to collect the rents from the Collateral
and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without bond
if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Collateral
exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver.

 

Collect Revenues, Apply Accounts.
Lender, either itself or through a receiver, may collect the payments, rents, income, and revenues from the Collateral. Lender
may at any time in Lender's discretion transfer any Collateral into Lender's own name or that of Lender's nominee and receive the
payments, rents, income, and revenues therefrom and hold the same as security for the Indebtedness or apply it to payment of the
Indebtedness in such order of preference as Lender may determine. Insofar as the Collateral consists of accounts, general intangibles,
insurance policies, instruments, chattel paper, choses in action, or similar property, Lender may demand, collect, receipt for,
settle, compromise, adjust, sue for, foreclose, or realize on the Collateral as Lender may determine, whether or not Indebtedness
or Collateral is then due. For these purposes, Lender may, on behalf of and in the name of Grantor, receive, open and dispose of
mail addressed to Grantor; change any address to which mail and payments are to be sent; and endorse notes, checks, drafts, money
orders, documents of title, instruments and items pertaining to payment, shipment, or storage of any Collateral. To facilitate
collection, Lender may notify account debtors and obligors on any Collateral to make payments directly to Lender.

 

 

 

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Obtain Deficiency. If Lender
chooses to sell any or all of the Collateral, Lender may obtain a judgment against Grantor for any deficiency remaining on the
Indebtedness due to Lender after application of all amounts received from the exercise of the rights provided in this Agreement.
Grantor shall be liable for a deficiency even if the transaction described in this subsection is a sale of accounts or chattel
paper.

 

Other Rights and Remedies.
Lender shall have all the rights and remedies of a secured creditor under the provisions of the Uniform Commercial Code, as may
be amended from time to time. In addition, Lender shall have and may exercise any or all other rights and remedies it may have
available at law, in equity, or otherwise.

 

Election of Remedies. Except
as may be prohibited by applicable law, all of Lender's rights and remedies, whether evidenced by this Agreement, the Related Documents,
or by any other writing, shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any
remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation
of Grantor under this Agreement, after Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise
its remedies.

 

ELECTRONIC COPIES. Lender
may copy, electronically or otherwise, and thereafter destroy, the originals of this Agreement and/or Related Documents in the
regular course of Lender’s business. All such copies produced from an electronic form or by any other reliable means (i.e.,
photographic image or facsimile) shall in all respects be considered equivalent to an original, and Borrower hereby waives any
rights or objections to the use of such copies.

 

MISCELLANEOUS PROVISIONS.
The following miscellaneous provisions are a part of this Agreement:

 

Amendments. This Agreement,
together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth
in this Agreement. No alteration of or amendment to this Agreement shall be effective unless given in writing and signed by the
party or parties sought to be charged or bound by the alteration or amendment.

 

Attorneys' Fees; Expenses.
Grantor agrees to pay upon demand all of Lender's costs and expenses, including Lender's reasonable attorneys' fees and Lender's
legal expenses, incurred in connection with the enforcement of this Agreement. Lender may hire or pay someone else to help enforce
this Agreement, and Grantor shall pay the costs and expenses of such enforcement. Costs and expenses include Lender's reasonable
attorneys' fees and legal expenses whether or not there is a lawsuit, including Lender's reasonable attorneys' fees and legal expenses
for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated
post-judgment collection services. Grantor also shall pay all court costs and such additional fees as may be directed by the court.

 

Caption Headings. Caption
headings in this Agreement are for convenience purposes only and are not to be used to interpret or define the provisions of this
Agreement.

 

Governing Law. This Agreement
will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of the State of
Texas without regard to its conflicts of law provisions. This Agreement has been accepted by Lender in the State of Texas.

 

Choice of Venue. If there
is a lawsuit, and if the transaction evidenced by this Agreement occurred in Collin County, Grantor agrees upon Lender's request
to submit to the jurisdiction of the courts of Collin County, State of Texas.

 

Joint and Several Liability.
All obligations of Grantor under this Agreement shall be joint and several, and all references to Grantor shall mean each and every
Grantor. This means that each Grantor signing below is responsible for all obligations in this Agreement. Where any one or more
of the parties is a corporation, partnership, limited liability company or similar entity, it is not necessary for Lender to inquire
into the powers of any of the officers, directors, partners, members, or other agents acting or purporting to act on the entity's
behalf, and any obligations made or created in reliance upon the professed exercise of such powers shall be guaranteed under this
Agreement.

 

 

 

    	 	8	 

     

    

 

No Waiver by Lender. Lender
shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by Lender.
No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right.
A waiver by Lender of a provision of this Agreement shall not prejudice or constitute a waiver of Lender's right otherwise to demand
strict compliance with that provision or any other provision of this Agreement. No prior waiver by Lender, nor any course of dealing
between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future
transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance
shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may
be granted or withheld in the sole discretion of Lender.

 

Notices. Any notice required
to be given under this Agreement shall be given in writing, and shall be effective when actually delivered, when actually received
by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed,
when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses
shown near the beginning of this Agreement. Any party may change its address for notices under this Agreement by giving formal
written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes,
Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law,
if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors.

 

Power of Attorney. Grantor
hereby appoints Lender as Grantor's irrevocable attorney-in-fact for the purpose of executing any documents necessary to perfect,
amend, or to continue the security interest granted in this Agreement or to demand termination of filings of other secured parties.
Lender may at any time, and without further authorization from Grantor, file a carbon, photographic or other reproduction of any
financing statement or of this Agreement for use as a financing statement. Grantor will reimburse Lender for all expenses for the
perfection and the continuation of the perfection of Lender's security interest in the Collateral.

 

Severability. If a court
of competent jurisdiction finds any provision of this Agreement to be illegal, invalid, or unenforceable as to any person or circumstance,
that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other person or circumstance.
If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending
provision cannot be so modified, it shall be considered deleted from this Agreement. Unless otherwise required by law, the illegality,
invalidity, or unenforceability of any provision of this Agreement shall not affect the legality, validity or enforceability of
any other provision of this Agreement.

 

Successors and Assigns.
Subject to any limitations stated in this Agreement on transfer of Grantor's interest, this Agreement shall be binding upon and
inure to the benefit of the parties, their successors and assigns. If ownership of the Collateral becomes vested in a person other
than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Agreement and the Indebtedness
by way of forbearance or extension without releasing Grantor from the obligations of this Agreement or liability under the Indebtedness.

 

Survival of Representations
and Warranties. All representations, warranties, and agreements made by Grantor in this Agreement shall survive the execution
and delivery of this Agreement, shall be continuing in nature, and shall remain in full force and effect until such time as Grantor's
Indebtedness shall be paid in full.

 

Time is of the Essence.
Time is of the essence in the performance of this Agreement.

 

Waive Jury. All parties to this
Agreement hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by any party against any
other party.

 

DEFINITIONS. The following
capitalized words and terms shall have the following meanings when used in this Agreement. Unless specifically stated to the contrary,
all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the
singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not otherwise
defined in this Agreement shall have the meanings attributed to such terms in the Uniform Commercial Code:

 

 

 

    	 	9	 

     

    

 

Agreement. The word "Agreement"
means this Commercial Security Agreement, as this Commercial Security Agreement may be amended or modified from time to time, together
with all exhibits and schedules attached to this Commercial Security Agreement from time to time.

 

Borrower. The word "Borrower"
means Dougherty's Holdings, Inc.; DOUGHERTY'S PHARMACY, INC.; Dougherty's Pharmacy El Paso, LLC; Dougherty's Pharmacy McAlester,
LLC; Dougherty's Pharmacy Forest Park Dallas, LLC; and Dougherty's Pharmacy Springtown, LLC and includes all co-signers and co-makers
signing the Note and all their successors and assigns.

 

Collateral. The word "Collateral"
means all of Grantor's right, title and interest in and to all the Collateral as described in the Collateral Description section
of this Agreement.

 

Default. The word "Default"
means the Default set forth in this Agreement in the section titled "Default".

 

Environmental Laws. The
words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to
the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation,
and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization
Act of 1986, Pub. L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq.,
the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules,
or regulations adopted pursuant thereto.

 

Event of Default. The words
"Event of Default" mean any of the events of default set forth in this Agreement in the default section of this Agreement.

 

Grantor. The word "Grantor"
means Dougherty's Holdings, Inc.; DOUGHERTY'S PHARMACY, INC.; Dougherty's Pharmacy El Paso, LLC; Dougherty's Pharmacy McAlester,
LLC; Dougherty's Pharmacy Forest Park Dallas, LLC; and Dougherty's Pharmacy Springtown, LLC.

 

Guarantor. The word "Guarantor"
means any guarantor, surety, or accommodation party of any or all of the Indebtedness.

 

Guaranty. The word "Guaranty"
means the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of the Note.

 

Hazardous Substances. The
words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious
characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated,
stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are
used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste
as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation,
petroleum and petroleum by-products or any fraction thereof and asbestos.

 

Indebtedness. The word "Indebtedness"
means the indebtedness evidenced by the Note or Related Documents, including all principal and interest together with all other
indebtedness and costs and expenses for which Grantor is responsible under this Agreement or under any of the Related Documents.
Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision, together
with all interest thereon and all amounts that may be indirectly secured by the Cross-Collateralization provision of this Agreement.

 

Lender. The word "Lender"
means First National Bank of Omaha , its successors and assigns.

 

 

 

    	 	10	 

     

    

Note. The word "Note"
means any and all of Borrower's liabilities, obligations and debts to Lender, now existing or hereinafter incurred or created,
including, without limitation, all loans, advances, interest, costs debts, overdraft indebtedness, credit card indebtedness, lease
obligations, liabilities and obligations under interest rate protection agreements or foreign currency exchange agreements or commodity
price protection agreements, other obligations, and liabilities of Borrower together with all modifications, increases, renewals,
and extensions of the aforementioned. Additionally, hereby incorporated as if fully set forth herein are the terms and conditions
of any promissory note, agreement or other document executed by Borrower and/or Lender indicating this security instrument or the
property described herein shall be considered "Collateral" securing such promissory note, agreement, or other instrument,
or any similar reference.

 

Property. The word "Property"
means all of Grantor's right, title and interest in and to all the Property as described in the "Collateral Description"
section of this Agreement.

 

Related Documents. The words
"Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties,
security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and
documents, whether now or hereafter existing, executed in connection with the Indebtedness.

 

GRANTOR HAS READ AND UNDERSTOOD
ALL THE PROVISIONS OF THIS COMMERCIAL SECURITY AGREEMENT AND AGREES TO ITS TERMS. THIS AGREEMENT IS DATED AUGUST 9, 2017.

 

    	 	11	 

     

    

 

 

GRANTOR:

 

DOUGHERTY'S HOLDINGS, INC.

 

 

By: /s/ Mark S. Heil

Mark S. Heil, 

President of Dougherty's Holdings,
Inc.

 

 

 

DOUGHERTY'S PHARMACY, INC.

 

 

By: /s/ Mark S. Heil

Mark S. Heil, Chief Financial Officer of DOUGHERTY'S
PHARMACY, INC.

 

 

 

DOUGHERTY'S PHARMACY EL PASO, LLC

 

 

By: /s/ Mark S. Heil

Mark S. Heil, Manager of Dougherty's Pharmacy
El Paso, LLC

 

 

 

DOUGHERTY'S PHARMACY MCALESTER, LLC

 

 

By: /s/ Mark S. Heil

Mark S. Heil, Manager of Dougherty's Pharmacy
McAlester, LLC

 

 

 

DOUGHERTY'S PHARMACY FOREST PARK DALLAS,
LLC

 

 

By: /s/ Mark S. Heil

Mark S. Heil, Manager of Dougherty's Pharmacy
Forest Park Dallas, LLC

 

 

 

DOUGHERTY'S PHARMACY SPRINGTOWN, LLC

 

 

By: /s/ Mark S. Heil

Mark S. Heil, Manager of Dougherty's Pharmacy
Springtown, LLC

 

 

 

LENDER:

 

FIRST NATIONAL BANK OF OMAHA

 

 

 

/s/ Nate Johns

Nate Johns, Vice President

 

 

 

 

    	 	12Exhibit 4.4

 

*#########000004571681577809012017*

 

PROMISSORY NOTE

 

 

	Principal	Loan Date	Maturity	Loan No	Call / Coll	Account	Officer	Initials
	 	 	 	 	 	 	 	 
	$4,450,000.00	09-01-2017	08-01-2018	4571681	 	274722	 	 

 

References in the boxes above are for
Lender's use only and do not limit the applicability of this document to any particular loan or item.

 

Any item above containing "***"
has been omitted due to text length limitations.

 

 

	Borrower:	
        Dougherty's Holdings, Inc.;

        DOUGHERTY'S
        PHARMACY, INC.; Dougherty's Pharmacy El Paso, LLC; Dougherty's Pharmacy McAlester, LLC; Dougherty's Pharmacy Forest Park Dallas,
        LLC; and Dougherty's Pharmacy Springtown, LLC

        5924 Royal Lane Ste 250

         

        Dallas, TX 75230
	Lender:	
        First National Bank of Omaha 

        Branch #042

        4500 Preston Road

        Frisco, TX 75034

 

	Principal Amount:  $4,450,000.00	Date of Note:  August 9, 2017

 

 

PROMISE TO PAY. Dougherty's Holdings,
Inc.; DOUGHERTY'S PHARMACY, INC.; Dougherty's Pharmacy El Paso, LLC; Dougherty's Pharmacy McAlester, LLC; Dougherty's Pharmacy
Forest Park Dallas, LLC; and Dougherty's Pharmacy Springtown, LLC ("Borrower") jointly and severally promise to pay to
First National Bank of Omaha ("Lender"), or order, in lawful money of the United States of America, the principal amount
of Four Million Four Hundred Fifty Thousand & 00/100 Dollars ($4,450,000.00) or so much as may be outstanding, together with
interest on the unpaid outstanding principal balance of each advance. Interest shall be calculated from the date of each advance
until repayment of each advance or maturity, whichever occurs first.

 

CHOICE OF USURY CEILING AND INTEREST
RATE. The interest rate on this Note has been implemented under the "Quarterly Ceiling" as referred to in Section
303.006 of the Texas Finance Code.

 

PAYMENT. Borrower will pay this loan
in one payment of all outstanding principal plus all accrued unpaid interest on August 1, 2018. In addition, Borrower will pay
regular monthly payments of all accrued unpaid interest due as of each payment date, beginning October 1, 2017, with all subsequent
interest payments to be due on the same day of each month after that. Unless otherwise agreed or required by applicable law, payments
will be applied to interest, principal, and expenses owing under the Note in an order determined by Lender. Borrower will pay Lender
at Lender's address shown above or at such other place as Lender may designate in writing. Notwithstanding any other provision
of this Note, Lender will not charge interest on any undisbursed loan proceeds. No scheduled payment, whether of principal or interest
or both, will be due unless sufficient loan funds have been disbursed by the scheduled payment date to justify the payment.

 

 

 

    	 	1	 

     

    

STEP DOWN LINE OF CREDIT. This
Note evidences a revolving line of credit with a decreasing amount available for Advances. Until February 1, 2018, the maximum
amount available for Advances shall not exceed $4,450,000.00; on and after February 1, 2018, the maximum amount available for Advances
shall not exceed $4,000,000.00. Advances under this Note may be requested either orally or in writing by Borrower or as provided
in this paragraph. Lender may, but need not, require that all oral requests be confirmed in writing. All communications, instructions,
or directions by telephone or otherwise to Lender are to be directed to Lender's office shown above. Borrower agrees to be liable
for all sums either: (A) advanced in accordance with the instructions of an authorized person or (B) credited to any of Borrower's
accounts with Lender. The unpaid principal balance owing on this Note at any time may be evidenced by endorsements on this Note
or by Lender's internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this
Note if: (A) Borrower or any guarantor is in default under the terms of this Note or any agreement that Borrower or any guarantor
has with Lender, including any agreement made in connection with the signing of this Note; (B) Borrower or any guarantor ceases
doing business or is insolvent; (C) any guarantor seeks, claims or otherwise attempts to limit, modify or revoke such guarantor's
guarantee of this Note or any other loan with Lender; (D) Borrower has applied funds provided pursuant to this Note for purposes
other than those authorized by Lender; or (E) Lender in good faith believes itself insecure. This revolving line of credit shall
not be subject to Ch. 346 of the Texas Finance Code.

 

VARIABLE INTEREST RATE. The interest
rate on this Note is subject to change from time to time based on changes in an independent index which is the London Interbank
Offered Rate (commonly known as “LIBOR”) for U.S. Dollar Deposits published by the Wall Street Journal as the “One
(1) Month LIBOR Rate” (the "Index"). The Index is not necessarily the lowest rate charged by Lender on its loans.
If the Index becomes unavailable during the term of this loan, Lender may designate a substitute index after notifying Borrower.
Lender will tell Borrower the current Index rate upon Borrower's request. The interest rate change will not occur more often than
each first (1st) day of every month during the term of the Note. The interest rate will be adjusted and determined without notice
to Borrower using the Index as of the date that is two (2) London Banking Days prior to each interest rate change date. “London
Banking Day” means any day, other than a Saturday or Sunday, on which commercial banking institutions in London, England,
are generally open for business. At Lender's option, the Index and/or the interest rate may be rounded upwards to the next higher
one one-hundredth of one percent (0.01%). If at any time the Index is less than zero, then it shall be deemed to be zero for the
purpose of calculating the interest rate on this Note. Borrower understands that Lender may make loans based on other rates as
well. The Index currently is 1.240% per annum. Interest prior to maturity on the unpaid principal balance of this Note will
be calculated as described in the "INTEREST CALCULATION METHOD" paragraph using a rate of 3.250 percentage points over
the Index, resulting in an initial rate of 4.490% per annum based on a year of 360 days. NOTICE: Under no circumstances will the
interest rate on this Note be more than the maximum rate allowed by applicable law. For purposes of this Note, the "maximum
rate allowed by applicable law" means the greater of (A) the maximum rate of interest permitted under federal or other law
applicable to the indebtedness evidenced by this Note, or (B) the "Quarterly Ceiling" as referred to in Section 303.006
of the Texas Finance Code.

 

INTEREST CALCULATION METHOD. Interest
on this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied
by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding, unless such
calculation would result in a usurious rate, in which case interest shall be calculated on a per diem basis of a year of 365 or
366 days, as the case may be. All interest payable under this Note is computed using this method.

 

PREPAYMENT. Borrower may pay
without penalty all or a portion of the amount owed earlier than it is due. Prepayment in full shall consist of payment of the
remaining unpaid principal balance together with all accrued and unpaid interest and all other amounts, costs and expenses for
which Borrower is responsible under this Note or any other agreement with Lender pertaining to this loan, and in no event will
Borrower ever be required to pay any unearned interest. Early payments will not, unless agreed to by Lender in writing, relieve
Borrower of Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, early payments will reduce the
principal balance due. Borrower agrees not to send Lender payments marked "paid in full", "without recourse",
or similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender's rights under this Note,
and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed
amounts, including any check or other payment instrument that indicates that the payment constitutes "payment in full"
of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be
mailed or delivered to: First National Bank of Omaha, Branch #042, 4500 Preston Road, Frisco, TX 75034.

 

 

 

    	 	2	 

     

    

 

LATE CHARGE. If a payment is
10 days or more late, Borrower will be charged 5.000% of the regularly scheduled payment or $25.00, whichever is greater.

 

POST MATURITY RATE. The Post
Maturity Rate on this Note is the lesser of (A) the maximum rate allowed by law or (B) the rate formed by increasing the applicable
interest rate on this Note by an additional 6.000 percentage point margin ("Post Maturity Rate Margin"), with the Post
Maturity Rate Margin applying to each succeeding interest rate change that would have applied had there been no acceleration. Borrower
will pay interest on all sums due after final maturity, whether by acceleration or otherwise, at that rate.

 

DEFAULT. Each of the following
shall constitute an event of default ("Event of Default") under this Note:

 

Payment Default. Borrower
fails to make any payment when due under this Note.

 

Other Defaults. Borrower
fails to comply with or to perform any other term, obligation, covenant or condition contained in this Note or in any of the related
documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between
Lender and Borrower.

 

Default in Favor of Third
Parties. Borrower or any Grantor defaults under any loan, extension of credit, security agreement, purchase or sales agreement,
or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's
ability to repay this Note or perform Borrower's obligations under this Note or any of the related documents.

 

False Statements. Any
warranty, representation or statement made or furnished to Lender by Borrower or on Borrower's behalf, or made by Guarantor, or
any other guarantor, endorser, surety, or accommodation party, under this Note or the related documents in connection with the
obtaining of the loan evidenced by this Note or any security document directly or indirectly securing repayment of this Note is
false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any
time thereafter.

 

Insolvency. The dissolution
or termination of Borrower's existence as a going business, the insolvency of Borrower, the appointment of a receiver for any part
of Borrower's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding
under any bankruptcy or insolvency laws by or against Borrower.

 

Creditor or Forfeiture Proceedings.
Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method,
by any creditor of Borrower or by any governmental agency against any collateral securing the loan. This includes a garnishment
of any of Borrower's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there
is a good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture
proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies
or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being
an adequate reserve or bond for the dispute.

 

Execution; Attachment.
Any execution or attachment is levied against the Collateral, and such execution or attachment is not set aside, discharged or
stayed within thirty (30) days after the same is levied.

 

Change in Zoning or Public
Restriction. Any change in any zoning ordinance or regulation or any other public restriction is enacted, adopted or implemented,
that limits or defines the uses which may be made of the Collateral such that the present or intended use of the Collateral, as
specified in the related documents, would be in violation of such zoning ordinance or regulation or public restriction, as changed.

 

Default Under Other Lien
Documents. A default occurs under any other mortgage, deed of trust or security agreement covering all or any portion of the
Collateral.

 

 

 

    	 	3	 

     

    

Judgment. Unless adequately
covered by insurance in the opinion of Lender, the entry of a final judgment for the payment of money involving more than ten thousand
dollars ($10,000.00) against Borrower and the failure by Borrower to discharge the same, or cause it to be discharged, or bonded
off to Lender's satisfaction, within thirty (30) days from the date of the order, decree or process under which or pursuant to
which such judgment was entered.

 

Events Affecting Guarantor.
Any of the preceding events occurs with respect to any Guarantor, or any other guarantor, endorser, surety, or accommodation party
of any of the indebtedness or any Guarantor, or any other guarantor, endorser, surety, or accommodation party dies or becomes incompetent,
or revokes or disputes the validity of, or liability under, any guaranty of the indebtedness evidenced by this Note.

 

Change In Ownership.
Any change in ownership of twenty-five percent (25%) or more of the common stock of Borrower.

 

Adverse Change. A material
adverse change occurs in Borrower's financial condition, or Lender believes the prospect of payment or performance of this Note
is impaired.

 

LENDER'S RIGHTS. Upon default,
Lender may declare the entire indebtedness, including the unpaid principal balance under this Note, all accrued unpaid interest,
and all other amounts, costs and expenses for which Borrower is responsible under this Note or any other agreement with Lender
pertaining to this loan, immediately due, without notice, and then Borrower will pay that amount.

 

ATTORNEYS' FEES; EXPENSES. Lender
may hire an attorney to help collect this Note if Borrower does not pay, and Borrower will pay Lender's reasonable attorneys' fees.
Borrower also will pay Lender all other amounts Lender actually incurs as court costs, lawful fees for filing, recording, releasing
to any public office any instrument securing this Note; the reasonable cost actually expended for repossessing, storing, preparing
for sale, and selling any security; and fees for noting a lien on or transferring a certificate of title to any motor vehicle offered
as security for this Note, or premiums or identifiable charges received in connection with the sale of authorized insurance.

 

JURY WAIVER. Lender and Borrower
hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either Lender or Borrower against
the other.

 

GOVERNING LAW. This Note will be
governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of the State of Texas without
regard to its conflicts of law provisions. This Note has been accepted by Lender in the State of Texas.

 

CHOICE OF VENUE. If there is
a lawsuit, and if the transaction evidenced by this Note occurred in Collin County, Borrower agrees upon Lender's request to submit
to the jurisdiction of the courts of Collin County, State of Texas.

 

DISHONORED CHECK CHARGE. Borrower
will pay a processing fee of $30.00 if any check given by Borrower to Lender as a payment on this loan is dishonored.

 

RIGHT OF SETOFF. To the extent
permitted by applicable law, Lender reserves a right of setoff in all Borrower's accounts with Lender (whether checking, savings,
or some other account). This includes all accounts Borrower holds jointly with someone else and all accounts Borrower may open
in the future. However, this does not include any IRA or Keogh accounts, or any trust accounts for which setoff would be prohibited
by law. Borrower authorizes Lender, to the extent permitted by applicable law, to charge or setoff all sums owing on the indebtedness
against any and all such accounts, and, at Lender's option, to administratively freeze all such accounts to allow Lender to protect
Lender's charge and setoff rights provided in this paragraph.

 

COLLATERAL. Borrower acknowledges
this Note is secured by a Commercial Security Agreement dated September 1, 2017, and any and all other security agreements or documents
and any and all other collateral agreements or documents associated with this Loan or Note whether now existing or hereafter arising.

 

 

 

    	 	4	 

     

    

 

FINANCIAL STATEMENTS. Borrower
agrees to provide Lender with such financial statements and other related information at such frequencies and in such detail as
Lender may reasonably request.

 

ERRORS AND OMISSIONS. Borrower
agrees, if requested by Lender, to fully cooperate in the correction, if necessary, in the reasonable discretion of Lender of any
and all loan closing documents so that all documents accurately describe the loan between Lender and Borrower. Borrower agrees
to assume all costs including by way of illustration and not limitation, actual expenses, legal fees and marketing losses for failing
to reasonably comply with Lender requests within thirty (30) days.

 

U.S.A. PATRIOT ACT. To help the
government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires all banks to obtain and
verify the identity of each person or business that opens an account. When Borrower opens an account Lender will ask Borrower for
information that will allow Lender to properly identify Borrower and Lender will verify that information. If Lender cannot properly
verify identity within 30 calendar days, Lender reserves the right to deem all of the balance and accrued interest due and payable
immediately.

 

ELECTRONIC COPIES. Lender may
copy, electronically or otherwise, and thereafter destroy, the originals of this Agreement and/or Related Documents in the regular
course of Lender’s business. All such copies produced from an electronic form or by any other reliable means (i.e., photographic
image or facsimile) shall in all respects be considered equivalent to an original, and Borrower hereby waives any rights or objections
to the use of such copies.

 

CROSS DEFAULT. An Event of Default,
beyond the applicable cure period, if any, or an Event of Default under any other Loan or any Related Document will constitute
an Event of Default under this Agreement and a default and an Event of Default under any other agreement by Borrower or any affiliate
or subsidiary of Borrower with or in favor of Lender and under any evidence of any Loan or Indebtedness held by Lender, whether
or not such is specified therein. Borrower acknowledges that some Loan Documents will be preprinted forms and that it is the intent
of Borrower and Lender that all Loans and Guaranties by Borrower or any affiliate or subsidiary of Borrower with or in favor of
Lender be cross-defaulted with each other.

 

CONSENT TO PARTICIPATION. Borrower
agrees and consents to Lender's sale or transfer, whether now or later, or one or more participation interest in this loan to one
or more purchasers, whether related or unrelated to Lender. Lender may provide, without any limitation whatsoever, to any one or
more purchasers, or potential purchasers, any information or knowledge Lender may have about Borrower or about any other matter
relating to the Loan, and Borrower hereby waives any rights to privacy it may have with respect to such matters. Borrower additionally
waives any and all notices of sale of participation interest, as well as all notices of any repurchase of such participation interests.
Borrower also agrees that the purchasers of any such participation interest will be considered as the absolute owners of such interests
in the Loan and will have all the rights granted under the participation agreement or agreements governing the sale of such participation
interests. Borrower further waives all rights of offset or counterclaim that it may have now or later against Lender or against
any purchaser of such a participation interest and unconditionally agrees that either Lender or such purchaser may enforce Borrower's
obligation under the Loan irrespective of the failure or insolvency of any holder of any interest in the Loan. Borrower further
agrees that the purchaser of any such participation interests may enforce its interest irrespective of any personal claims or defenses
that Borrower may have against Lender.

 

RENEWAL AND EXTENSION. This Note
is given in renewal and extension and not in novation of the following described indebtedness: This Promissory Note is a modification,
amendment, renewal, or replacement of the terms and conditions of indebtedness of Borrower as set forth in a Promissory Note dated
July 1, 2016, in the amount of $4,750,000.00, and shall include all renewals, modifications and extensions of such documents.

 

SUCCESSOR INTERESTS. The terms
of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall
inure to the benefit of Lender and its successors and assigns.

 

 

 

    	 	5	 

     

    

GENERAL PROVISIONS. If any part
of this Note cannot be enforced, this fact will not affect the rest of the Note. Borrower does not agree or intend to pay, and
Lender does not agree or intend to contract for, charge, collect, take, reserve or receive (collectively referred to herein as
"charge or collect"), any amount in the nature of interest or in the nature of a fee for this loan, which would in any
way or event (including demand, prepayment, or acceleration) cause Lender to charge or collect more for this loan than the maximum
Lender would be permitted to charge or collect by federal law or the law of the State of Texas (as applicable). Any such excess
interest or unauthorized fee shall, instead of anything stated to the contrary, be applied first to reduce the principal balance
of this loan, and when the principal has been paid in full, be refunded to Borrower. The right to accelerate maturity of sums due
under this Note does not include the right to accelerate any interest which has not otherwise accrued on the date of such acceleration,
and Lender does not intend to charge or collect any unearned interest in the event of acceleration. All sums paid or agreed to
be paid to Lender for the use, forbearance or detention of sums due hereunder shall, to the extent permitted by applicable law,
be amortized, prorated, allocated and spread throughout the full term of the loan evidenced by this Note until payment in full
so that the rate or amount of interest on account of the loan evidenced hereby does not exceed the applicable usury ceiling. Lender
may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Each Borrower understands and agrees
that, with or without notice to Borrower, Lender may with respect to any other Borrower (a) make one or more additional secured
or unsecured loans or otherwise extend additional credit; (b) alter, compromise, renew, extend, accelerate, or otherwise change
one or more times the time for payment or other terms of any indebtedness, including increases and decreases of the rate of interest
on the indebtedness; (c) exchange, enforce, waive, subordinate, fail or decide not to perfect, and release any security, with or
without the substitution of new collateral; (d) apply such security and direct the order or manner of sale thereof, including without
limitation, any non-judicial sale permitted by the terms of the controlling security agreements, as Lender in its discretion may
determine; (e) release, substitute, agree not to sue, or deal with any one or more of Borrower's sureties, endorsers, or other
guarantors on any terms or in any manner Lender may choose; and (f) determine how, when and what application of payments and credits
shall be made on any other indebtedness owing by such other Borrower. Borrower and any other person who signs, guarantees or endorses
this Note, to the extent allowed by law, waive presentment, demand for payment, notice of dishonor, notice of intent to accelerate
the maturity of this Note, and notice of acceleration of the maturity of this Note. Upon any change in the terms of this Note,
and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker
or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length
of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security
interest in the collateral without the consent of or notice to anyone. All such parties also agree that Lender may modify this
loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under
this Note are joint and several.

 

 

 

 

 

 

    	 	6	 

     

    

 

PRIOR TO SIGNING THIS NOTE, EACH BORROWER
READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. EACH BORROWER AGREES TO THE
TERMS OF THE NOTE.

 

BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED
COPY OF THIS PROMISSORY NOTE.

 

BORROWER:

 

DOUGHERTY'S HOLDINGS, INC.

 

By: /s/ Mark S. Heil

Mark S. Heil, 

President of Dougherty's Holdings,
Inc.

 

 

 

DOUGHERTY'S PHARMACY, INC.

 

By: /s/ Mark S. Heil

Mark S. Heil, 

Chief Financial Officer of DOUGHERTY'S
PHARMACY, INC.

 

 

 

DOUGHERTY'S PHARMACY EL PASO, LLC

 

By: /s/ Mark S. Heil

Mark S. Heil,

 Manager of Dougherty's Pharmacy
El Paso, LLC

 

 

 

DOUGHERTY'S PHARMACY MCALESTER, LLC

 

By: /s/ Mark S. Heil

Mark S. Heil,

 Manager of Dougherty's Pharmacy
McAlester, LLC

 

 

 

DOUGHERTY'S PHARMACY FOREST PARK DALLAS,
LLC

 

By: /s/ Mark S. Heil

Mark S. Heil, 

Manager of Dougherty's Pharmacy
Forest Park Dallas, LLC

 

 

 

DOUGHERTY'S PHARMACY SPRINGTOWN, LLC

 

By: /s/ Mark S. Heil

Mark S. Heil, 

Manager of Dougherty's Pharmacy
Springtown, LLC

 

 

 

LENDER:

 

FIRST NATIONAL BANK OF OMAHA

 

 

/s/ Nate Johns

Nate Johns, Vice President

 

 

 

    	 	7

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