Investment. The Holder is acquiring this Note and the securities issuable upon conversion of this Note (together, the “Securities”) for the Holder’s own account, and not directly or indirectly for the account of any other person. The Holder is acquiring the Securities for investment and not with a view to distribution or resale thereof except in compliance with the Securities Act of 1933, as amended (the “Act”) and any applicable state law regulating securities.

This Note is issued to Holder in reliance upon the Holder’s representation to the Company, which by Holder’s execution of this Note Holder here confirms, that this Note and the securities issuable upon the conversion thereof (together the “Securities”) will be acquired for investment for Holder’s own account, not as a nominee or agent, and not with the view to the resale or distribution of any part thereof, and that Holder has no present intention to selling, granting any participation in, or otherwise distributing the same. By executing this Note, Holder further represents that Holder does not presently have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Securities. Holder has not been formed for the specific purpose of acquiring the Securities.