0001193125-17-211897.txt : 20170623
20170623170629
S-1
S-1
S-1
SERVICES-PERSONAL SERVICES
7200
000119312517211897
26
YogaWorks, Inc.
>0001193125-17-211897.hdr.sgml : 20170623
20170623
<SEC-HEADER>0001193125-17-211897.hdr.sgml : 20170623
<ACCEPTANCE-DATETIME>20170623170629
ACCESSION NUMBER:		0001193125-17-211897
CONFORMED SUBMISSION TYPE:	S-1
PUBLIC DOCUMENT COUNT:		26
FILED AS OF DATE:		20170623
DATE AS OF CHANGE:		20170623

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			YogaWorks, Inc.
		CENTRAL INDEX KEY:			0001703497
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PERSONAL SERVICES [7200]
		IRS NUMBER:				471219105
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218950
		FILM NUMBER:		17928325

	BUSINESS ADDRESS:	
		STREET 1:		5780 UPLANDER WAY
		CITY:			CULVER CITY
		STATE:			CA
		ZIP:			90230
		BUSINESS PHONE:		(310) 664-6470

	MAIL ADDRESS:	
		STREET 1:		5780 UPLANDER WAY
		CITY:			CULVER CITY
		STATE:			CA
		ZIP:			90230
</SEC-HEADER>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>5
<FILENAME>d371686dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO LOAN AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS FIRST AMENDMENT TO LOAN AGREEMENT (this &#147;<B><I>First Amendment</I></B>&#148;) is entered into and made effective as of
December&nbsp;23, 2015 (the &#147;<B><I>First Amendment Date</I></B>&#148;), by and among Y<SMALL>OGA</SMALL> W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>., a California corporation (&#147;<B><I>Yoga Works</I></B>&#148;), B<SMALL>E</SMALL>
Y<SMALL>OGA</SMALL> LLC, a New York limited liability company (&#147;<B><I>Be Yoga</I></B>&#148;), C<SMALL>ENTER</SMALL> <SMALL>FOR</SMALL> Y<SMALL>OGA</SMALL> I<SMALL>NC</SMALL>., a California corporation (&#147;<B><I>Center</I></B>&#148;),
N<SMALL>OR</SMALL> C<SMALL>AL</SMALL> W<SMALL>HOLE</SMALL> B<SMALL>ODY</SMALL> LLC, a Delaware limited liability company (&#147;<B><I>Nor Cal</I></B>&#148;), and the other borrowers from time to time party to the Loan Agreement (defined below)
(together with Yoga Works, Be Yoga, Center and Nor Cal, each, a &#147;<B><I>Borrower</I></B>&#148; and, collectively, &#147;<B><I>Borrowers</I></B>&#148;), YWX H<SMALL>OLDINGS</SMALL>, I<SMALL>NC</SMALL>., a Delaware corporation
(&#147;<B><I>Holdings</I></B>&#148;), W<SMALL>HOLE</SMALL> B<SMALL>ODY</SMALL>, I<SMALL>NC</SMALL>., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and the other guarantors from time to time party to the Loan Agreement (together
with Holdings and the Company, the &#147;<B><I>Guarantors</I></B>&#148;; the Guarantors together with Borrowers, &#147;<B><I>Loan Parties</I></B>&#148; and, individually, a &#147;<B><I>Loan Party</I></B>&#148;), D<SMALL>EERPATH</SMALL>
F<SMALL>UNDING</SMALL>, LP, a Delaware limited partnership (&#147;<B><I>Deerpath</I></B>&#148;), and the other lenders from time to time party to the Loan Agreement (together with Deerpath, each, a &#147;<B><I>Lender</I></B>&#148; and, collectively,
the &#147;<B><I>Lenders</I></B>&#148;), and Deerpath, as administrative agent and collateral agent for itself and the other Lenders (in such capacity, &#147;<B><I>Agent</I></B>&#148;). Capitalized terms used, but not defined, in this First Amendment
have the respective meanings given such terms in the Loan Agreement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. Loan Parties, Lenders and Agent have entered into that certain Loan Agreement (as amended, restated, supplemented or modified from time to
time, the &#147;<B><I>Loan Agreement</I></B>&#148;), dated effective as of July&nbsp;24, 2015 (the &#147;<B><I>Closing Date</I></B>&#148;), pursuant to which Lenders have made (i)&nbsp;a single-advance senior secured term loan on the Closing Date in
the amount of $5,000,000, and (ii)&nbsp;a conditional commitment to provide additional single-advance senior secured term loans from time to time following the Closing Date in an aggregate amount not to exceed $15,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. Borrowers have requested that Lenders (i)&nbsp;make an Additional Term Loan to </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Borrowers on the First Amendment Date in an amount equal to $2,000,000 (the &#147;<B><I>First Amendment Date Additional Term Loan</I></B>&#148;), and
(ii)&nbsp;make certain other modifications to the Loan Agreement, and Agent and Lenders have agreed to such requests, all on the terms and subject to the conditions set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned hereby agree as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1. <B><U>Amendments to Loan Agreement. </U></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1 The Recitals to this First Amendment are incorporated into and made a part of the Loan Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2 <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;1.1</I></B> of the Loan Agreement is amended to add the following
definition: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Available Deferred Acquisition Obligation Netting Amount</I></B> means, when determined, the amount
equal to (a)&nbsp;the aggregate cash available in Loan Parties&#146; deposit </P>

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accounts, <I>minus </I>(b) $250,000; <I>provided, that </I>if the result of the foregoing calculation is a negative number, then the Available Deferred Acquisition Obligation Netting Amount shall
be deemed to be equal to $0.00. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Deerpath Additional Term Note (First Amendment Date)</I></B> means that certain
promissory note executed by Borrowers on the First Amendment Date and made payable to Deerpath in an original principal amount equal to $2,000,000, and all renewals, increases, modifications, amendments, supplements, restatements and replacements
of, or substitutions for, that promissory note. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Deferred Acquisition Obligations </I></B>means all <FONT
STYLE="white-space:nowrap">earn-out</FONT> obligations, deferred purchase price obligations and seller note obligations incurred, entered into or issued in connection with any acquisition by a Loan Party of another company or all or any portion of
its Equity Securities, properties or assets. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3 <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;1.1</I></B> of the Loan
Agreement is amended to delete the definitions of &#147;<B><I>Excess Cash Flow</I></B>&#148;, &#147;<B><I>Fixed Charge Coverage Ratio</I></B>&#148; and &#147;<B><I>Funded Debt</I></B>&#148; in their entirety and replace them with the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Excess Cash Flow</I></B> means, for any Excess Cash Flow Period, without duplication: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) EBITDA for such Excess Cash Flow Period, <I>minus</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the sum of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Loan Parties&#146; Taxes paid in cash for such Excess Cash Flow Period (reduced by any foreign, United States, state or
local tax refunds received by Loan Parties during such Excess Cash Flow Period); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the principal amount of all Funded
Debt (other than Deferred Acquisition Obligations) paid in cash by Loan Parties during such Excess Cash Flow Period as required under the applicable loan agreements, notes, lease agreements or other instruments evidencing such Debt, and including
the amount of any voluntary prepayments in accordance with <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;2.4 </I></B>and any mandatory prepayments in accordance with <B><I>Section 2.5(b)</I></B>, <I>provided</I>, <I>that</I> such voluntary
prepayments are funded solely from Loan Parties&#146; internally-generated cash flow (excluding, for the avoidance of doubt, the Net Proceeds of (w)&nbsp;any issuance of Equity Securities by any Loan Party, (x)&nbsp;any Debt financing of any Loan
Party, (y)&nbsp;any sale or disposition of assets, properties or Equity Securities by any Loan Party, and (z)&nbsp;any Liquidity Event, in each case, entered into following the Closing Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Net Interest Expense (excluding any Net Interest Expense in respect of Deferred Acquisition Obligations) paid in cash by
Loan Parties during such Excess Cash Flow Period; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) cash Capital Expenditures for such Excess Cash Flow Period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) to the extent included in EBITDA, <FONT STYLE="white-space:nowrap">(A)&nbsp;non-cash</FONT> income or gains not otherwise
set forth herein, <FONT STYLE="white-space:nowrap">(B)&nbsp;non-cash</FONT> <FONT STYLE="white-space:nowrap">write-ups</FONT> with respect to revaluing assets and liabilities, and <FONT STYLE="white-space:nowrap">(C)&nbsp;non-cash</FONT> gains from
joint ventures and <FONT STYLE="white-space:nowrap">non-cash</FONT> minority interest increases; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) cash payments of
Permitted Sponsor Reimbursements during such Excess Cash Flow Period (including any amounts paid following the termination of a payment blockage); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) without duplication, cash EBITDA Addbacks; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) with respect to any Permitted Acquisitions, the cash portion of the purchase price consideration paid at the closing of
such Permitted Acquisition (excluding, for the avoidance of doubt, any purchase price consideration paid in respect of any Deferred Acquisition Obligations), together with any transaction fees and expenses incurred in connection therewith;
<I>provided, that </I>such transaction fees and expenses (1)&nbsp;are not capitalized by Loan Parties and (2)&nbsp;do not exceed $100,000 in the aggregate for any such Permitted Acquisition, and any indemnity payments (as required under the
applicable purchase agreement), in each case, paid by Loan Parties during such Excess Cash Flow Period, <I>minus (or plus)</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) any increase <I>(or decrease) </I>in Loan Parties&#146; Net Working Capital for such Excess Cash Flow Period, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">all as calculated on an annual basis following completion of Loan Parties&#146; certified financial statements provided to
Lenders pursuant to <B><I>Section 8.1(a)</I></B>; <I>provided, that </I>if the result of such calculation is a negative amount, then Excess Cash Flow for such Excess Cash Flow Period shall be deemed equal to zero dollars ($0.00).<B><I> </I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Fixed Charge Coverage Ratio</I></B> means, when determined, the ratio of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) EBITDA for the most recently completed <FONT STYLE="white-space:nowrap">12-month</FONT> period, <I>to</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the sum of (collectively, the &#147;<B><I>Fixed Charges</I></B>&#148;): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the principal amount of all Funded Debt scheduled to be paid by the Loan Parties during the forward <FONT
STYLE="white-space:nowrap">12-month</FONT> period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Net Interest Expense paid during the most-recently completed <FONT
STYLE="white-space:nowrap">12-month</FONT> period; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Loan Parties&#146; Maintenance CapEx, cash Taxes, any Cash
Distributions and any cash Permitted Sponsor Reimbursements for the most-recently completed <FONT STYLE="white-space:nowrap">12-month</FONT> period. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for purposes of determining the Fixed Charge
Coverage Ratio as of any testing date, Fixed Charges shall be reduced by an amount equal to <I>the lesser of</I> (A)&nbsp;the aggregate amount of Fixed Charges described in <I><FONT STYLE="white-space:nowrap">sub-clauses</FONT> (i)</I>&nbsp;and
<I>(ii)</I> of <I>clause (b)</I>&nbsp;above that are attributable to, paid or scheduled to be paid in respect of Deferred Acquisition Obligations incurred in connection with Permitted Acquisitions, and (B)&nbsp;the Available Deferred Acquisition
Obligation Netting Amount as of such testing date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Funded Debt</I></B> means, without duplication, when determined,
the following: (a)&nbsp;all obligations of the Loan Parties for borrowed money (whether as a direct obligor on a promissory note, a reimbursement obligor on a letter of credit, a guarantor, surety or other secondary obligor or otherwise), excluding
the accounting impact of any discount to the GAAP book value of the Debt instrument resulting from the allocation of proceeds from such borrowed money between the Debt instrument and concurrently issued equity interests granted by such Person,
<I>plus</I> (but without duplication)&nbsp;(b) all purchase money Debt (including, for the avoidance of doubt, all Deferred Acquisition Obligations) and Capital Lease obligations of the Loan Parties; <I>provided</I>, <I>however</I>, <I>that
</I>&#147;<B><I>Funded Debt</I></B>&#148; shall not include the Sponsor Subordinated Debt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2. <B><U>First Amendment Date
Additional Term Loan</U></B>. <B></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Loan Request</U>. As set forth in that certain Loan Request &#150; Additional
Term Loan dated December&nbsp;4, 2015, executed and delivered by Borrowers to Lenders and attached hereto as <U>Annex A</U>, Borrowers have requested that Lenders make the First Amendment Date Additional Term Loan on the First Amendment Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>First Amendment Date Additional Term Loan</U>. Subject to the terms and conditions of this First Amendment and the Loan
Agreement, pursuant to <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;2.2 </I></B>of the Loan Agreement, Lenders agree to make, and shall make, the First Amendment Date Additional Term Loan to Borrowers on the First Amendment Date, in an amount
equal to $2,000,000.00, less certain of Agent&#146;s and Lenders&#146; fees and expenses that are being deducted by the applicable Lenders at the closing of this First Amendment pursuant to <B><I>Section 2(d)</I></B> below (the &#147;<B><I>First
Amendment Date Additional Term Loan Proceeds</I></B>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Use of Proceeds</U>. Borrowers shall use the First
Amendment Date Additional Term Loan Proceeds to fund (i)&nbsp;new location build-outs and Permitted Acquisitions and (ii)&nbsp;transaction costs, fees and expenses occurred in connection therewith. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Fees and Expenses</U>. On the First Amendment Date, pursuant to
<B><I>Section</I></B><B><I></I></B><B><I>&nbsp;4.2</I></B> of the Loan Agreement, Borrowers shall pay (i)&nbsp;to Deerpath, (A)&nbsp;a structuring fee in an amount equal to $20,000.00, which is equal to one percent (1.00%) of the First Amendment
Date Additional Term Loan, and (B)&nbsp;a closing fee in an amount equal to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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$30,000.00, which is equal to one and <FONT STYLE="white-space:nowrap">one-half</FONT> percent (1.50%) of the First Amendment Date Additional Term Loan, and (ii)&nbsp;to Agent and Lenders, as
applicable, any other fees and expenses provided for in <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;8.11 </I></B>of the Loan Agreement; <I>provided, however, that</I>, in lieu of any such cash payment under this <B><I>Section 2(d)</I></B>,
Lenders may in their sole discretion elect to deduct such fees and expenses from the First Amendment Date Additional Term Loan Proceeds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3. <B><U>Conditions</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.1 This First Amendment shall be effective once each of the following have been received by Agent at the closing of the
transactions contemplated by this First Amendment:<B> </B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) this First Amendment, duly executed by Loan Parties, Agent
and Lenders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Deerpath Additional Term Note (First Amendment Date), duly executed by Loan Parties, Agent and
Lenders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a certificate of the secretary of each Loan Party, certifying as to its certificate of formation or other
applicable charter document and the operating agreement or bylaws, as applicable, of such Loan Party, the incumbency of its officers executing Loan Documents on such Loan Date and their specimen signatures and resolutions adopted by its board of
directors authorizing this First Amendment and the other First Amendment Documents (defined below) to which such Loan Party is a party; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Certificates of Existence and Good Standing for each Loan Party from each of the jurisdictions where such Loan Party is
organized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4. <B><U>Representations and Warranties</U></B>. Loan Parties represent and warrant to Lenders, jointly and
severally, that (a)&nbsp;Loan Parties possess all requisite power and authority to execute, deliver and comply with the terms of this First Amendment, the Deerpath Additional Term Note (First Amendment Date) and the other certificates, documents and
agreements set forth in <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;3.1</I></B> above (collectively, the &#147;<B><I>First Amendment Documents</I></B>&#148;), (b) the First Amendment Documents have been duly authorized and approved by all
requisite corporate and company action on the part of Loan Parties, and Loan Parties will provide Lenders with evidence of such approval upon request, (c)&nbsp;no other consent of any Person (other than Agent and Lenders and consents that have been
obtained) is required for the First Amendment Documents to be effective, (d)&nbsp;the execution and delivery of the First Amendment Documents does not violate any of Loan Parties&#146; organizational documents, (e)&nbsp;assuming the due execution
and delivery, as applicable, by Agent and Lenders, the First Amendment Documents constitute valid and binding agreements of Loan Parties, enforceable against Loan Parties in accordance with their terms, except as enforceability may be limited by
applicable Debtor Relief Laws and general principles of equity; (f)&nbsp;except as set forth in <U>Annex B</U> attached hereto, the representations and warranties in each Loan Document to which any Loan Party is a party are true and correct in all
material respects on and as of the First Amendment Date as though made </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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on the First Amendment Date (except to the extent that such representations and warranties speak to a specific date, in which case such representations and warranties shall be true and correct in
all material respects as of such specific date), (g) no Material Adverse Event exists, (h)&nbsp;no Litigation is pending against any Loan Party which, if adversely determined, would reasonably be expected to result in a Material Adverse Event,
(i)&nbsp;no Default or Potential Default exists, and (j)&nbsp;each Loan Party is in compliance in all material respects with all covenants and agreements contained in each Loan Document to which it is a party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5. <B><U>Scope of Amendment; Reaffirmation; Release</U></B><U>.<B></B></U><B> </B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.1 From and after the First Amendment Date, all references to the Loan Agreement shall refer to the Loan Agreement as amended
by this First Amendment. Except as affected by this First Amendment, the Loan Documents are unchanged and continue in full force and effect. However, in the event of any inconsistency between the terms of the Loan Agreement (as amended by this First
Amendment) and any other Loan Document, the terms of the Loan Agreement shall control and such other document shall be deemed to be amended to conform to the terms of the Loan Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.2 Each Loan Party hereby (a)&nbsp;ratifies and reaffirms its obligations under the Loan Documents to which it is a party and
(b)&nbsp;confirms and agrees that all Loan Documents to which it is a party, including, but not limited to, all Liens granted in favor of Agent or Lenders pursuant to the Security Documents, remain in full force and effect and continue to be legal,
valid, and binding obligations, enforceable in accordance with their terms (as the same are affected by this First Amendment), except as enforceability may be limited by applicable Debtor Relief Laws and general principles of equity. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.3 Loan Parties and their respective representatives, successors and assigns hereby jointly and severally, knowingly and
voluntarily RELEASE, DISCHARGE and FOREVER WAIVE and RELINQUISH any and all claims, demands, obligations, liabilities, defenses, affirmative defenses, setoffs, counterclaims, actions and causes of action of whatsoever kind or nature, whether known
or unknown, which each of them has, may have or might have or may assert now or in the future against Agent or any Lender directly or indirectly, arising out of, based upon or in any manner connected with any transaction, event, circumstance,
action, failure to act or occurrence of any sort or type, in each case related to, arising from or in connection with the Loans, whether known or unknown, and which occurred, existed, was taken, permitted or begun prior to the First Amendment Date.
Loan Parties hereby acknowledge and agree that the execution of this First Amendment by Agent and Lenders shall not constitute an acknowledgment of or an admission by Agent or Lenders of the existence of any such claims or of liability for any
matter or precedent upon which liability may be asserted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6. <U><B>Miscellaneous</B>.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.1 <U>No Waiver of Defaults</U>. This First Amendment does not constitute (a)&nbsp;a waiver of, or a consent to, (i)&nbsp;any
provision of the Loan Agreement or any other Loan Document not expressly referred to in this First Amendment, or (ii)&nbsp;any present or future violation of, or Default under, any provision of the Loan Documents, or (b)&nbsp;a waiver of
Agent&#146;s or any Lender&#146;s right to insist upon future compliance with each term, covenant, condition and provision of the Loan Documents. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.2 <U>Loan Document</U>. This First Amendment is a Loan Document. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.3 <U>Form</U>. Each agreement, document, instrument or other writing to be furnished to Agent under any provision of this
First Amendment must be in form and substance satisfactory to Agent and its counsel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.4 <U>Headings</U>. The headings and
captions used in this First Amendment are for convenience only and will not be deemed to limit, amplify or modify the terms of this First Amendment, the Loan Agreement or the other Loan Documents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.5 <U>Costs, Expenses and Attorneys&#146; Fees</U>. Loan Parties agree to pay or reimburse Agent, Lenders or their Affiliates
on demand for all their reasonable, documented and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> costs, fees and expenses paid or incurred by Agent or any Lender in connection with the preparation,
negotiation, and execution of this First Amendment, including, without limitation, the reasonable fees and expenses of Agent&#146;s and each Lender&#146;s counsel. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.6 <U>Successors and Assigns</U>. This First Amendment shall be binding upon and inure to the benefit of each of the
undersigned and their respective successors and permitted assigns. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.7 <U>Multiple Counterparts</U>. This First Amendment
may be executed in any number of counterparts with the same effect as if all signatories had signed the same document. All counterparts must be construed together to constitute one and the same instrument. This First Amendment may be transmitted and
signed by facsimile and in .pdf or other electronic format. The effectiveness of any such documents and signatures shall, subject to applicable law, have the same force and effect as manually-signed originals and shall be binding on Loan Parties,
Agent and Lenders. Agent may also require that any such documents and signatures be confirmed by a manually-signed original; <I>provided, that</I>,<I> </I>the failure to request or deliver the same shall not limit the effectiveness of any facsimile
document or signature. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.8 <U>Governing Law</U>. This First Amendment shall be a contract made under and governed by the
internal laws of the State of New York applicable to contracts made and to be performed entirely within such state, without regard to conflict of law principles (but including and giving effect to
<FONT STYLE="white-space:nowrap">Section&nbsp;5-1401</FONT> of the New York General Obligations Law). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>6.9<B>
<U></U></B><U>Entirety<B></B></U><B></B>.<B> T<SMALL>HE</SMALL> L<SMALL>OAN</SMALL> D<SMALL>OCUMENTS</SMALL> (<SMALL>AS</SMALL> <SMALL>AMENDED</SMALL> <SMALL>HEREBY</SMALL>) R<SMALL>EPRESENT</SMALL> <SMALL>THE</SMALL> F<SMALL>INAL</SMALL>
A<SMALL>GREEMENT</SMALL> B<SMALL>ETWEEN</SMALL> L<SMALL>OAN</SMALL> P<SMALL>ARTIES</SMALL>, A<SMALL>GENT</SMALL> <SMALL>AND</SMALL> L<SMALL>ENDERS</SMALL> <SMALL>AND</SMALL> M<SMALL>AY</SMALL> N<SMALL>OT</SMALL> B<SMALL>E</SMALL>
C<SMALL>ONTRADICTED</SMALL> <SMALL>BY</SMALL> E<SMALL>VIDENCE</SMALL> <SMALL>OF</SMALL> P<SMALL>RIOR</SMALL>, C<SMALL>ONTEMPORANEOUS</SMALL>, <SMALL>OR</SMALL> S<SMALL>UBSEQUENT</SMALL> O<SMALL>RAL</SMALL> A<SMALL>GREEMENTS</SMALL> <SMALL>BY</SMALL>
<SMALL>THE</SMALL> P<SMALL>ARTIES</SMALL>. T<SMALL>HERE</SMALL> A<SMALL>RE</SMALL> N<SMALL>O</SMALL> U<SMALL>NWRITTEN</SMALL> O<SMALL>RAL</SMALL> A<SMALL>GREEMENTS</SMALL> <SMALL>AMONG</SMALL> <SMALL>THE</SMALL> P<SMALL>ARTIES</SMALL>. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Signatures appear on the next page]</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This First Amendment to Loan Agreement is executed as of the date set forth in the opening
paragraph hereof. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>AGENT:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>D<SMALL>EERPATH</SMALL> F<SMALL>UNDING</SMALL>, LP</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">a Delaware limited partnership,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as Agent</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Deerpath Funding General Partner, Inc. its general partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Anish Bahl</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Anish Bahl</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Chief Financial Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LENDER:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>D<SMALL>EERPATH</SMALL> F<SMALL>UNDING</SMALL>, LP</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">a Delaware limited partnership,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as Lender</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Deerpath Funding General Partner, Inc. its general partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Anish Bahl</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Anish Bahl</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Chief Financial Officer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[S<SMALL>IGNATURE</SMALL> P<SMALL>AGE</SMALL> 1 <SMALL>OF</SMALL> 3 <SMALL>TO</SMALL> F<SMALL>IRST</SMALL> A<SMALL>MENDMENT</SMALL>
<SMALL>TO</SMALL> L<SMALL>OAN</SMALL> A<SMALL>GREEMENT</SMALL> (Y<SMALL>OGA</SMALL>W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>.)] </P>


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 <DIV ALIGN="right">
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<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BORROWERS:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Y<SMALL>OGA</SMALL> W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">a California corporation</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rosanna McCollough</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Rosanna McCollough</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>B<SMALL>E</SMALL> Y<SMALL>OGA</SMALL> LLC</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">a New York limited liability company</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rosanna McCollough</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Rosanna McCollough</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>C<SMALL>ENTER</SMALL> F<SMALL>OR</SMALL> Y<SMALL>OGA</SMALL>, I<SMALL>NC</SMALL>.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">a California corporation</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rosanna McCollough</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Rosanna McCollough</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>N<SMALL>OR</SMALL> C<SMALL>AL</SMALL> W<SMALL>HOLE</SMALL> B<SMALL>ODY</SMALL> LLC</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">a Delaware limited liability company</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rosanna McCollough</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Rosanna McCollough</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[S<SMALL>IGNATURE</SMALL> P<SMALL>AGE</SMALL> 3 <SMALL>OF</SMALL> 3 <SMALL>TO</SMALL> F<SMALL>IRST</SMALL> A<SMALL>MENDMENT</SMALL>
<SMALL>TO</SMALL> L<SMALL>OAN</SMALL> A<SMALL>GREEMENT</SMALL> (Y<SMALL>OGA</SMALL>W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>.)] </P>


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<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GUARANTORS:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>YWX H<SMALL>OLDINGS</SMALL>, I<SMALL>NC</SMALL>.</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">a Delaware corporation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Peter L. Garran</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Peter L. Garran</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>W<SMALL>HOLE</SMALL> B<SMALL>ODY</SMALL>, I<SMALL>NC</SMALL>.</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">a Delaware corporation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Peter L. Garran</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Peter L. Garran</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Secretary</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[S<SMALL>IGNATURE</SMALL> P<SMALL>AGE</SMALL> 3 <SMALL>OF</SMALL> 3 <SMALL>TO</SMALL> F<SMALL>IRST</SMALL> A<SMALL>MENDMENT</SMALL>
<SMALL>TO</SMALL> L<SMALL>OAN</SMALL> A<SMALL>GREEMENT</SMALL> (Y<SMALL>OGA</SMALL>W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>.)] </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>ANNEX A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO
LOAN AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Loan Request &#150; Additional Term Loan </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(See attached.) </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Annex B </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO
LOAN AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Supplemental Schedules to Loan Documents </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(See attached.) </P>
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EX-10.2
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EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO LOAN AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS FIRST AMENDMENT TO LOAN AGREEMENT (this &#147;<B><I>First Amendment</I></B>&#148;) is entered into and made effective as of
December&nbsp;23, 2015 (the &#147;<B><I>First Amendment Date</I></B>&#148;), by and among Y<SMALL>OGA</SMALL> W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>., a California corporation (&#147;<B><I>Yoga Works</I></B>&#148;), B<SMALL>E</SMALL>
Y<SMALL>OGA</SMALL> LLC, a New York limited liability company (&#147;<B><I>Be Yoga</I></B>&#148;), C<SMALL>ENTER</SMALL> <SMALL>FOR</SMALL> Y<SMALL>OGA</SMALL> I<SMALL>NC</SMALL>., a California corporation (&#147;<B><I>Center</I></B>&#148;),
N<SMALL>OR</SMALL> C<SMALL>AL</SMALL> W<SMALL>HOLE</SMALL> B<SMALL>ODY</SMALL> LLC, a Delaware limited liability company (&#147;<B><I>Nor Cal</I></B>&#148;), and the other borrowers from time to time party to the Loan Agreement (defined below)
(together with Yoga Works, Be Yoga, Center and Nor Cal, each, a &#147;<B><I>Borrower</I></B>&#148; and, collectively, &#147;<B><I>Borrowers</I></B>&#148;), YWX H<SMALL>OLDINGS</SMALL>, I<SMALL>NC</SMALL>., a Delaware corporation
(&#147;<B><I>Holdings</I></B>&#148;), W<SMALL>HOLE</SMALL> B<SMALL>ODY</SMALL>, I<SMALL>NC</SMALL>., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and the other guarantors from time to time party to the Loan Agreement (together
with Holdings and the Company, the &#147;<B><I>Guarantors</I></B>&#148;; the Guarantors together with Borrowers, &#147;<B><I>Loan Parties</I></B>&#148; and, individually, a &#147;<B><I>Loan Party</I></B>&#148;), D<SMALL>EERPATH</SMALL>
F<SMALL>UNDING</SMALL>, LP, a Delaware limited partnership (&#147;<B><I>Deerpath</I></B>&#148;), and the other lenders from time to time party to the Loan Agreement (together with Deerpath, each, a &#147;<B><I>Lender</I></B>&#148; and, collectively,
the &#147;<B><I>Lenders</I></B>&#148;), and Deerpath, as administrative agent and collateral agent for itself and the other Lenders (in such capacity, &#147;<B><I>Agent</I></B>&#148;). Capitalized terms used, but not defined, in this First Amendment
have the respective meanings given such terms in the Loan Agreement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. Loan Parties, Lenders and Agent have entered into that certain Loan Agreement (as amended, restated, supplemented or modified from time to
time, the &#147;<B><I>Loan Agreement</I></B>&#148;), dated effective as of July&nbsp;24, 2015 (the &#147;<B><I>Closing Date</I></B>&#148;), pursuant to which Lenders have made (i)&nbsp;a single-advance senior secured term loan on the Closing Date in
the amount of $5,000,000, and (ii)&nbsp;a conditional commitment to provide additional single-advance senior secured term loans from time to time following the Closing Date in an aggregate amount not to exceed $15,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. Borrowers have requested that Lenders (i)&nbsp;make an Additional Term Loan to </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Borrowers on the First Amendment Date in an amount equal to $2,000,000 (the &#147;<B><I>First Amendment Date Additional Term Loan</I></B>&#148;), and
(ii)&nbsp;make certain other modifications to the Loan Agreement, and Agent and Lenders have agreed to such requests, all on the terms and subject to the conditions set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned hereby agree as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1. <B><U>Amendments to Loan Agreement. </U></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1 The Recitals to this First Amendment are incorporated into and made a part of the Loan Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2 <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;1.1</I></B> of the Loan Agreement is amended to add the following
definition: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Available Deferred Acquisition Obligation Netting Amount</I></B> means, when determined, the amount
equal to (a)&nbsp;the aggregate cash available in Loan Parties&#146; deposit </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
accounts, <I>minus </I>(b) $250,000; <I>provided, that </I>if the result of the foregoing calculation is a negative number, then the Available Deferred Acquisition Obligation Netting Amount shall
be deemed to be equal to $0.00. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Deerpath Additional Term Note (First Amendment Date)</I></B> means that certain
promissory note executed by Borrowers on the First Amendment Date and made payable to Deerpath in an original principal amount equal to $2,000,000, and all renewals, increases, modifications, amendments, supplements, restatements and replacements
of, or substitutions for, that promissory note. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Deferred Acquisition Obligations </I></B>means all <FONT
STYLE="white-space:nowrap">earn-out</FONT> obligations, deferred purchase price obligations and seller note obligations incurred, entered into or issued in connection with any acquisition by a Loan Party of another company or all or any portion of
its Equity Securities, properties or assets. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3 <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;1.1</I></B> of the Loan
Agreement is amended to delete the definitions of &#147;<B><I>Excess Cash Flow</I></B>&#148;, &#147;<B><I>Fixed Charge Coverage Ratio</I></B>&#148; and &#147;<B><I>Funded Debt</I></B>&#148; in their entirety and replace them with the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Excess Cash Flow</I></B> means, for any Excess Cash Flow Period, without duplication: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) EBITDA for such Excess Cash Flow Period, <I>minus</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the sum of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Loan Parties&#146; Taxes paid in cash for such Excess Cash Flow Period (reduced by any foreign, United States, state or
local tax refunds received by Loan Parties during such Excess Cash Flow Period); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the principal amount of all Funded
Debt (other than Deferred Acquisition Obligations) paid in cash by Loan Parties during such Excess Cash Flow Period as required under the applicable loan agreements, notes, lease agreements or other instruments evidencing such Debt, and including
the amount of any voluntary prepayments in accordance with <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;2.4 </I></B>and any mandatory prepayments in accordance with <B><I>Section 2.5(b)</I></B>, <I>provided</I>, <I>that</I> such voluntary
prepayments are funded solely from Loan Parties&#146; internally-generated cash flow (excluding, for the avoidance of doubt, the Net Proceeds of (w)&nbsp;any issuance of Equity Securities by any Loan Party, (x)&nbsp;any Debt financing of any Loan
Party, (y)&nbsp;any sale or disposition of assets, properties or Equity Securities by any Loan Party, and (z)&nbsp;any Liquidity Event, in each case, entered into following the Closing Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Net Interest Expense (excluding any Net Interest Expense in respect of Deferred Acquisition Obligations) paid in cash by
Loan Parties during such Excess Cash Flow Period; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) cash Capital Expenditures for such Excess Cash Flow Period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) to the extent included in EBITDA, <FONT STYLE="white-space:nowrap">(A)&nbsp;non-cash</FONT> income or gains not otherwise
set forth herein, <FONT STYLE="white-space:nowrap">(B)&nbsp;non-cash</FONT> <FONT STYLE="white-space:nowrap">write-ups</FONT> with respect to revaluing assets and liabilities, and <FONT STYLE="white-space:nowrap">(C)&nbsp;non-cash</FONT> gains from
joint ventures and <FONT STYLE="white-space:nowrap">non-cash</FONT> minority interest increases; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) cash payments of
Permitted Sponsor Reimbursements during such Excess Cash Flow Period (including any amounts paid following the termination of a payment blockage); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) without duplication, cash EBITDA Addbacks; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) with respect to any Permitted Acquisitions, the cash portion of the purchase price consideration paid at the closing of
such Permitted Acquisition (excluding, for the avoidance of doubt, any purchase price consideration paid in respect of any Deferred Acquisition Obligations), together with any transaction fees and expenses incurred in connection therewith;
<I>provided, that </I>such transaction fees and expenses (1)&nbsp;are not capitalized by Loan Parties and (2)&nbsp;do not exceed $100,000 in the aggregate for any such Permitted Acquisition, and any indemnity payments (as required under the
applicable purchase agreement), in each case, paid by Loan Parties during such Excess Cash Flow Period, <I>minus (or plus)</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) any increase <I>(or decrease) </I>in Loan Parties&#146; Net Working Capital for such Excess Cash Flow Period, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">all as calculated on an annual basis following completion of Loan Parties&#146; certified financial statements provided to
Lenders pursuant to <B><I>Section 8.1(a)</I></B>; <I>provided, that </I>if the result of such calculation is a negative amount, then Excess Cash Flow for such Excess Cash Flow Period shall be deemed equal to zero dollars ($0.00).<B><I> </I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Fixed Charge Coverage Ratio</I></B> means, when determined, the ratio of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) EBITDA for the most recently completed <FONT STYLE="white-space:nowrap">12-month</FONT> period, <I>to</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the sum of (collectively, the &#147;<B><I>Fixed Charges</I></B>&#148;): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the principal amount of all Funded Debt scheduled to be paid by the Loan Parties during the forward <FONT
STYLE="white-space:nowrap">12-month</FONT> period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Net Interest Expense paid during the most-recently completed <FONT
STYLE="white-space:nowrap">12-month</FONT> period; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Loan Parties&#146; Maintenance CapEx, cash Taxes, any Cash
Distributions and any cash Permitted Sponsor Reimbursements for the most-recently completed <FONT STYLE="white-space:nowrap">12-month</FONT> period. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for purposes of determining the Fixed Charge
Coverage Ratio as of any testing date, Fixed Charges shall be reduced by an amount equal to <I>the lesser of</I> (A)&nbsp;the aggregate amount of Fixed Charges described in <I><FONT STYLE="white-space:nowrap">sub-clauses</FONT> (i)</I>&nbsp;and
<I>(ii)</I> of <I>clause (b)</I>&nbsp;above that are attributable to, paid or scheduled to be paid in respect of Deferred Acquisition Obligations incurred in connection with Permitted Acquisitions, and (B)&nbsp;the Available Deferred Acquisition
Obligation Netting Amount as of such testing date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Funded Debt</I></B> means, without duplication, when determined,
the following: (a)&nbsp;all obligations of the Loan Parties for borrowed money (whether as a direct obligor on a promissory note, a reimbursement obligor on a letter of credit, a guarantor, surety or other secondary obligor or otherwise), excluding
the accounting impact of any discount to the GAAP book value of the Debt instrument resulting from the allocation of proceeds from such borrowed money between the Debt instrument and concurrently issued equity interests granted by such Person,
<I>plus</I> (but without duplication)&nbsp;(b) all purchase money Debt (including, for the avoidance of doubt, all Deferred Acquisition Obligations) and Capital Lease obligations of the Loan Parties; <I>provided</I>, <I>however</I>, <I>that
</I>&#147;<B><I>Funded Debt</I></B>&#148; shall not include the Sponsor Subordinated Debt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2. <B><U>First Amendment Date
Additional Term Loan</U></B>. <B></B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Loan Request</U>. As set forth in that certain Loan Request &#150; Additional
Term Loan dated December&nbsp;4, 2015, executed and delivered by Borrowers to Lenders and attached hereto as <U>Annex A</U>, Borrowers have requested that Lenders make the First Amendment Date Additional Term Loan on the First Amendment Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>First Amendment Date Additional Term Loan</U>. Subject to the terms and conditions of this First Amendment and the Loan
Agreement, pursuant to <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;2.2 </I></B>of the Loan Agreement, Lenders agree to make, and shall make, the First Amendment Date Additional Term Loan to Borrowers on the First Amendment Date, in an amount
equal to $2,000,000.00, less certain of Agent&#146;s and Lenders&#146; fees and expenses that are being deducted by the applicable Lenders at the closing of this First Amendment pursuant to <B><I>Section 2(d)</I></B> below (the &#147;<B><I>First
Amendment Date Additional Term Loan Proceeds</I></B>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <U>Use of Proceeds</U>. Borrowers shall use the First
Amendment Date Additional Term Loan Proceeds to fund (i)&nbsp;new location build-outs and Permitted Acquisitions and (ii)&nbsp;transaction costs, fees and expenses occurred in connection therewith. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Fees and Expenses</U>. On the First Amendment Date, pursuant to
<B><I>Section</I></B><B><I></I></B><B><I>&nbsp;4.2</I></B> of the Loan Agreement, Borrowers shall pay (i)&nbsp;to Deerpath, (A)&nbsp;a structuring fee in an amount equal to $20,000.00, which is equal to one percent (1.00%) of the First Amendment
Date Additional Term Loan, and (B)&nbsp;a closing fee in an amount equal to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
$30,000.00, which is equal to one and <FONT STYLE="white-space:nowrap">one-half</FONT> percent (1.50%) of the First Amendment Date Additional Term Loan, and (ii)&nbsp;to Agent and Lenders, as
applicable, any other fees and expenses provided for in <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;8.11 </I></B>of the Loan Agreement; <I>provided, however, that</I>, in lieu of any such cash payment under this <B><I>Section 2(d)</I></B>,
Lenders may in their sole discretion elect to deduct such fees and expenses from the First Amendment Date Additional Term Loan Proceeds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3. <B><U>Conditions</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.1 This First Amendment shall be effective once each of the following have been received by Agent at the closing of the
transactions contemplated by this First Amendment:<B> </B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) this First Amendment, duly executed by Loan Parties, Agent
and Lenders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Deerpath Additional Term Note (First Amendment Date), duly executed by Loan Parties, Agent and
Lenders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a certificate of the secretary of each Loan Party, certifying as to its certificate of formation or other
applicable charter document and the operating agreement or bylaws, as applicable, of such Loan Party, the incumbency of its officers executing Loan Documents on such Loan Date and their specimen signatures and resolutions adopted by its board of
directors authorizing this First Amendment and the other First Amendment Documents (defined below) to which such Loan Party is a party; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Certificates of Existence and Good Standing for each Loan Party from each of the jurisdictions where such Loan Party is
organized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4. <B><U>Representations and Warranties</U></B>. Loan Parties represent and warrant to Lenders, jointly and
severally, that (a)&nbsp;Loan Parties possess all requisite power and authority to execute, deliver and comply with the terms of this First Amendment, the Deerpath Additional Term Note (First Amendment Date) and the other certificates, documents and
agreements set forth in <B><I>Section</I></B><B><I></I></B><B><I>&nbsp;3.1</I></B> above (collectively, the &#147;<B><I>First Amendment Documents</I></B>&#148;), (b) the First Amendment Documents have been duly authorized and approved by all
requisite corporate and company action on the part of Loan Parties, and Loan Parties will provide Lenders with evidence of such approval upon request, (c)&nbsp;no other consent of any Person (other than Agent and Lenders and consents that have been
obtained) is required for the First Amendment Documents to be effective, (d)&nbsp;the execution and delivery of the First Amendment Documents does not violate any of Loan Parties&#146; organizational documents, (e)&nbsp;assuming the due execution
and delivery, as applicable, by Agent and Lenders, the First Amendment Documents constitute valid and binding agreements of Loan Parties, enforceable against Loan Parties in accordance with their terms, except as enforceability may be limited by
applicable Debtor Relief Laws and general principles of equity; (f)&nbsp;except as set forth in <U>Annex B</U> attached hereto, the representations and warranties in each Loan Document to which any Loan Party is a party are true and correct in all
material respects on and as of the First Amendment Date as though made </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
on the First Amendment Date (except to the extent that such representations and warranties speak to a specific date, in which case such representations and warranties shall be true and correct in
all material respects as of such specific date), (g) no Material Adverse Event exists, (h)&nbsp;no Litigation is pending against any Loan Party which, if adversely determined, would reasonably be expected to result in a Material Adverse Event,
(i)&nbsp;no Default or Potential Default exists, and (j)&nbsp;each Loan Party is in compliance in all material respects with all covenants and agreements contained in each Loan Document to which it is a party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5. <B><U>Scope of Amendment; Reaffirmation; Release</U></B><U>.<B></B></U><B> </B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.1 From and after the First Amendment Date, all references to the Loan Agreement shall refer to the Loan Agreement as amended
by this First Amendment. Except as affected by this First Amendment, the Loan Documents are unchanged and continue in full force and effect. However, in the event of any inconsistency between the terms of the Loan Agreement (as amended by this First
Amendment) and any other Loan Document, the terms of the Loan Agreement shall control and such other document shall be deemed to be amended to conform to the terms of the Loan Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.2 Each Loan Party hereby (a)&nbsp;ratifies and reaffirms its obligations under the Loan Documents to which it is a party and
(b)&nbsp;confirms and agrees that all Loan Documents to which it is a party, including, but not limited to, all Liens granted in favor of Agent or Lenders pursuant to the Security Documents, remain in full force and effect and continue to be legal,
valid, and binding obligations, enforceable in accordance with their terms (as the same are affected by this First Amendment), except as enforceability may be limited by applicable Debtor Relief Laws and general principles of equity. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.3 Loan Parties and their respective representatives, successors and assigns hereby jointly and severally, knowingly and
voluntarily RELEASE, DISCHARGE and FOREVER WAIVE and RELINQUISH any and all claims, demands, obligations, liabilities, defenses, affirmative defenses, setoffs, counterclaims, actions and causes of action of whatsoever kind or nature, whether known
or unknown, which each of them has, may have or might have or may assert now or in the future against Agent or any Lender directly or indirectly, arising out of, based upon or in any manner connected with any transaction, event, circumstance,
action, failure to act or occurrence of any sort or type, in each case related to, arising from or in connection with the Loans, whether known or unknown, and which occurred, existed, was taken, permitted or begun prior to the First Amendment Date.
Loan Parties hereby acknowledge and agree that the execution of this First Amendment by Agent and Lenders shall not constitute an acknowledgment of or an admission by Agent or Lenders of the existence of any such claims or of liability for any
matter or precedent upon which liability may be asserted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6. <U><B>Miscellaneous</B>.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.1 <U>No Waiver of Defaults</U>. This First Amendment does not constitute (a)&nbsp;a waiver of, or a consent to, (i)&nbsp;any
provision of the Loan Agreement or any other Loan Document not expressly referred to in this First Amendment, or (ii)&nbsp;any present or future violation of, or Default under, any provision of the Loan Documents, or (b)&nbsp;a waiver of
Agent&#146;s or any Lender&#146;s right to insist upon future compliance with each term, covenant, condition and provision of the Loan Documents. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.2 <U>Loan Document</U>. This First Amendment is a Loan Document. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.3 <U>Form</U>. Each agreement, document, instrument or other writing to be furnished to Agent under any provision of this
First Amendment must be in form and substance satisfactory to Agent and its counsel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.4 <U>Headings</U>. The headings and
captions used in this First Amendment are for convenience only and will not be deemed to limit, amplify or modify the terms of this First Amendment, the Loan Agreement or the other Loan Documents. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.5 <U>Costs, Expenses and Attorneys&#146; Fees</U>. Loan Parties agree to pay or reimburse Agent, Lenders or their Affiliates
on demand for all their reasonable, documented and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> costs, fees and expenses paid or incurred by Agent or any Lender in connection with the preparation,
negotiation, and execution of this First Amendment, including, without limitation, the reasonable fees and expenses of Agent&#146;s and each Lender&#146;s counsel. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.6 <U>Successors and Assigns</U>. This First Amendment shall be binding upon and inure to the benefit of each of the
undersigned and their respective successors and permitted assigns. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.7 <U>Multiple Counterparts</U>. This First Amendment
may be executed in any number of counterparts with the same effect as if all signatories had signed the same document. All counterparts must be construed together to constitute one and the same instrument. This First Amendment may be transmitted and
signed by facsimile and in .pdf or other electronic format. The effectiveness of any such documents and signatures shall, subject to applicable law, have the same force and effect as manually-signed originals and shall be binding on Loan Parties,
Agent and Lenders. Agent may also require that any such documents and signatures be confirmed by a manually-signed original; <I>provided, that</I>,<I> </I>the failure to request or deliver the same shall not limit the effectiveness of any facsimile
document or signature. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.8 <U>Governing Law</U>. This First Amendment shall be a contract made under and governed by the
internal laws of the State of New York applicable to contracts made and to be performed entirely within such state, without regard to conflict of law principles (but including and giving effect to
<FONT STYLE="white-space:nowrap">Section&nbsp;5-1401</FONT> of the New York General Obligations Law). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>6.9<B>
<U></U></B><U>Entirety<B></B></U><B></B>.<B> T<SMALL>HE</SMALL> L<SMALL>OAN</SMALL> D<SMALL>OCUMENTS</SMALL> (<SMALL>AS</SMALL> <SMALL>AMENDED</SMALL> <SMALL>HEREBY</SMALL>) R<SMALL>EPRESENT</SMALL> <SMALL>THE</SMALL> F<SMALL>INAL</SMALL>
A<SMALL>GREEMENT</SMALL> B<SMALL>ETWEEN</SMALL> L<SMALL>OAN</SMALL> P<SMALL>ARTIES</SMALL>, A<SMALL>GENT</SMALL> <SMALL>AND</SMALL> L<SMALL>ENDERS</SMALL> <SMALL>AND</SMALL> M<SMALL>AY</SMALL> N<SMALL>OT</SMALL> B<SMALL>E</SMALL>
C<SMALL>ONTRADICTED</SMALL> <SMALL>BY</SMALL> E<SMALL>VIDENCE</SMALL> <SMALL>OF</SMALL> P<SMALL>RIOR</SMALL>, C<SMALL>ONTEMPORANEOUS</SMALL>, <SMALL>OR</SMALL> S<SMALL>UBSEQUENT</SMALL> O<SMALL>RAL</SMALL> A<SMALL>GREEMENTS</SMALL> <SMALL>BY</SMALL>
<SMALL>THE</SMALL> P<SMALL>ARTIES</SMALL>. T<SMALL>HERE</SMALL> A<SMALL>RE</SMALL> N<SMALL>O</SMALL> U<SMALL>NWRITTEN</SMALL> O<SMALL>RAL</SMALL> A<SMALL>GREEMENTS</SMALL> <SMALL>AMONG</SMALL> <SMALL>THE</SMALL> P<SMALL>ARTIES</SMALL>. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Signatures appear on the next page]</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This First Amendment to Loan Agreement is executed as of the date set forth in the opening
paragraph hereof. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>AGENT:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>D<SMALL>EERPATH</SMALL> F<SMALL>UNDING</SMALL>, LP</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">a Delaware limited partnership,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as Agent</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Deerpath Funding General Partner, Inc. its general partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Anish Bahl</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Anish Bahl</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Chief Financial Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LENDER:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>D<SMALL>EERPATH</SMALL> F<SMALL>UNDING</SMALL>, LP</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">a Delaware limited partnership,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as Lender</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Deerpath Funding General Partner, Inc. its general partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Anish Bahl</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Anish Bahl</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Chief Financial Officer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[S<SMALL>IGNATURE</SMALL> P<SMALL>AGE</SMALL> 1 <SMALL>OF</SMALL> 3 <SMALL>TO</SMALL> F<SMALL>IRST</SMALL> A<SMALL>MENDMENT</SMALL>
<SMALL>TO</SMALL> L<SMALL>OAN</SMALL> A<SMALL>GREEMENT</SMALL> (Y<SMALL>OGA</SMALL>W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>.)] </P>


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<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BORROWERS:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Y<SMALL>OGA</SMALL> W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">a California corporation</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rosanna McCollough</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Rosanna McCollough</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>B<SMALL>E</SMALL> Y<SMALL>OGA</SMALL> LLC</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">a New York limited liability company</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rosanna McCollough</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Rosanna McCollough</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>C<SMALL>ENTER</SMALL> F<SMALL>OR</SMALL> Y<SMALL>OGA</SMALL>, I<SMALL>NC</SMALL>.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">a California corporation</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rosanna McCollough</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Rosanna McCollough</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>N<SMALL>OR</SMALL> C<SMALL>AL</SMALL> W<SMALL>HOLE</SMALL> B<SMALL>ODY</SMALL> LLC</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">a Delaware limited liability company</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rosanna McCollough</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Rosanna McCollough</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[S<SMALL>IGNATURE</SMALL> P<SMALL>AGE</SMALL> 3 <SMALL>OF</SMALL> 3 <SMALL>TO</SMALL> F<SMALL>IRST</SMALL> A<SMALL>MENDMENT</SMALL>
<SMALL>TO</SMALL> L<SMALL>OAN</SMALL> A<SMALL>GREEMENT</SMALL> (Y<SMALL>OGA</SMALL>W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>.)] </P>


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<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GUARANTORS:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>YWX H<SMALL>OLDINGS</SMALL>, I<SMALL>NC</SMALL>.</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">a Delaware corporation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Peter L. Garran</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Peter L. Garran</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>W<SMALL>HOLE</SMALL> B<SMALL>ODY</SMALL>, I<SMALL>NC</SMALL>.</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">a Delaware corporation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Peter L. Garran</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Peter L. Garran</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Secretary</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[S<SMALL>IGNATURE</SMALL> P<SMALL>AGE</SMALL> 3 <SMALL>OF</SMALL> 3 <SMALL>TO</SMALL> F<SMALL>IRST</SMALL> A<SMALL>MENDMENT</SMALL>
<SMALL>TO</SMALL> L<SMALL>OAN</SMALL> A<SMALL>GREEMENT</SMALL> (Y<SMALL>OGA</SMALL>W<SMALL>ORKS</SMALL>, I<SMALL>NC</SMALL>.)] </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>ANNEX A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO
LOAN AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Loan Request &#150; Additional Term Loan </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(See attached.) </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Annex B </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIRST AMENDMENT TO
LOAN AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Supplemental Schedules to Loan Documents </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(See attached.) </P>
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