On June 29, 2022, KORU Medical Systems, Inc. (the Company") entered into a Loan Modification Extension Agreement (the Modification Agreement") with Keybank National Association (Lender") to modify its existing revolving line of credit with Lender in the amount of $3,500,000 (the Loan"). Among other things, the Modification Agreement: (i) extends the maturity date of the Loan to June 1, 2023; (ii) changes the interest rate applicable to the Loan from Prime 1.50% to Prime + 0%; (iii) releases the Company from its obligations under a certain security agreement dated June 24, 2021 pursuant to which the Company had previously granted the Lender a first priority security interest in all equipment, inventory, accounts, instruments, chattel paper and general intangibles of the Company (the Security Agreement"); and (iv) replaces the Security Agreement with a new pledge security agreement dated June 29, 2022 by and between the Company and Lender (the Pledge Agreement"), which Pledge Agreement grants Lender a first priority security interest in certain of the Company's bank accounts as collateral security for the Loan.