On April 15, 2022, Intersect ENT, Inc. entered into an Amendment No.1 to Facility Agreement (the “Amendment”), which amends that certain Facility Agreement (as amended by the Amendment, the “Facility Agreement”), by and among the Company, as borrower, certain of the Company's subsidiaries from time to time party thereto as guarantors and Medtronic, Inc., a Minnesota corporation (the “Lender”), providing for an incremental unsecured subordinated loan of a principal amount equal to $15 million by the Lender to the Company (the “Incremental Loan”) upon the terms and conditions set forth in the Facility Agreement (the “Financing”). The Incremental Loan will mature one hundred eighty (180) days following the earlier of (x) the Maturity Date (as defined in the Deerfield Facility Agreement (as defined in the Facility Agreement)) and (y) the date on which the Deerfield Facility Agreement has been fully paid in cash and is terminated, unless earlier repaid or accelerated. The Incremental Loan survives the termination of the Merger Agreement (as defined the Facility Agreement) and remains due and payable until repaid or otherwise satisfied in full.

The Company plans to use the proceeds from the Incremental Loan to provide funding for general corporate purposes. The Incremental Loan accrues interest at 5% per annum with accrued interest to be paid at maturity. The Company's obligations under the Incremental Loan and the Facility Agreement are required to be guaranteed by all of its existing and future subsidiaries (other than certain excluded and immaterial subsidiaries).

The Incremental Loan may be prepaid in part or in full prior to maturity without any penalty or premium.