Financial and Business Sophistication. Purchaser has such knowledge and experience in financial and business matters that Purchaser is capable of evaluating the merits and risks of the prospective investment in the Subordinated Notes. Purchaser has relied solely upon Purchaser’s own knowledge of, and/or the advice of Purchaser’s own legal, financial or other advisors with regard to, the legal, financial, tax and other considerations involved in deciding to invest in the Subordinated Notes.

Information and Sophistication. The Investor represents that # it has received or had full access to the Base Prospectus as well as the Company’s periodic reports and other information incorporated by reference therein, prior to or in connection with its receipt of this Agreement; # it is knowledgeable, sophisticated and experienced in making, and is qualified to make, decisions with respect to investments in securities representing an investment decision like that involved in the purchase of the Shares; # it is able to fend for itself in the transaction contemplated hereby; # it has the ability to bear the economic risks of its prospective investment and can afford the complete loss of such investment; and # it does not have any agreement or understanding, directly or indirectly, with any person or entity to distribute any of the Shares.

Information and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth in [Section 3], the Purchaser hereby: # acknowledges that it has received all the information it has requested from the Company including, but not limited to, the SEC Filings, # represents that it has had an opportunity to ask questions and receive answers from the Company regarding the Company, its business and the terms and conditions of the offering of the Securities and # further represents that it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risk of this investment.

Information and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth in Section 3, the Purchaser hereby: # acknowledges that it has received all the information it has requested from the Company including, but not limited to, the SEC Filings, # represents that it has had an opportunity to ask questions and receive answers from the Company regarding the Company, its business and the terms and conditions of the offering of the Securities and # further represents that it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risk of this investment.

Financial and Business Information. The Company shall deliver to each holder of Notes that is an Institutional Investor:

Financial and Business Information. Promptly provide Lender with information concerning the financial and business operations and property of each Borrower and Guarantor, including but not limited to financial reports, in form, manner and frequency required by Lender and also including the submission of the financial information as required in the most recent Covenant and Condition Rider to this Master Agreement.

Sophistication; Investment Intent. Palogic, through its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks associated with the Exchange, and has so evaluated the related merits and risks. Palogic is able to bear the economic risk of the Exchange and is able to bear a complete loss of its investment.

Sophistication; Investment Intent. Palogic, through its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks associated with the Exchange, and has so evaluated the related merits and risks. Palogic is able to bear the economic risk of the Exchange and is able to bear a complete loss of its investment.

Experience of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective

Sophistication; Disclaimer and Non-reliance. Sarissa, by reason of the business and financial experience of its management, has the capacity to protect its own interests in connection with the transactions contemplated by this Agreement and has had the opportunity to consult counsel or other advisors with respect thereto. Neither Emmaus nor any of its affiliates or representatives is making any representation or warranty of any kind or nature whatsoever, oral or written, express or implied, except as expressly set forth in Article III, and Emmaus hereby disclaims any such other representations and warranties. Sarissa is a sophisticated seller and has made its own independent investigation, review and analysis regarding the Securities and the transactions contemplated hereby. Sarissa acknowledges that neither Emmaus nor any of its affiliates or representatives is making, directly or indirectly, any representation or warranty, except as expressly as forth in Article III.