LOAN AGREEMENT Between Black Family Partners, L.P. and Phaidon Global LLC This Agreement dated as of September , 2013, is between Black Family Partners, L.P. (the "Lender") and Phaidon Global LLC, a Delaware limited liability company (the "Borrower"). 1. LINE OF CREDIT AMOUNT AND TERMS 1.1 Line of Credit Amount. (a) During the availability period described below, the Lender will provide a line of credit (the "Facility") to the Borrower. The amount of the Facility is Fifteen Million and 00/100 Dollars ($15,000,000.00) (the "Facility Amount"). (b) The Facility is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding under the Facility to exceed the Facility Amount. If the Borrower exceeds this limit, the Borrower will immediately pay the excess to the Lender upon the Lender's demand. 1.2 Availability Period. The Facility is available between the date of this Agreement and September 2014, or such earlier date as the availability may terminate as provided in this Agreement (the "Expiration Date"). 1.3 Borrowing Base. The Facility is subject to a borrowing base in accordance with the terms and conditions of the Pledge Agreement executed by Black Family 1997 Trust (the "Guarantor") in favor of the Lender, as required under this Agreement (the "Pledge Agreement"). The terms of the borrowing base include requirements to maintain collateral with an adequate loan value and grant to the Lender the right to issue a margin call in the event such requirements are not met. Further, any failure to meet the borrowing base requirements permits the Lender to refuse to make advances or other financial accommodations and constitutes an event of default under this Agreement. Borrower acknowledges and agrees with the terms of the borrowing base as set forth in the Pledge Agreement. 1.4 Repayment Terms. (a) The Borrow