On January 14, 2019, OrangeHook, Inc. entered into a Commercial Promissory Note effective January 1, 2019, in the principal amount of $450,000.00 with E. Martin Jehn, an individual, Jeffrey A. Levy, an individual, and the Jeffrey A. Levy Trust, a trust. The Note consolidates and renews previous outstanding notes issued to the Lenders and matures on July 1, 2019. The Note provides for an annual interest rate of 13%, based on a 365-day year, and, in the event of default 15%, based on a 365-day year. The Note is supported by four personal guarantees, including those of Company board members James L. Mandel ("Mandel") and Jeffrey J. Hattara ("Hattara"), President and CEO and Chief Strategy Officer, respectively, and board member Whitney E. Peyton ("Peyton"). The fourth guarantee is from a third-party individual. The Note is also supported by a lien interest in the third-party individual's residence. The Note provides that in the event of default, collection efforts under the Note shall be pursued first from Mandel, Hattara and the third party's personal guarantees, then the lien interest in the third-party's personal residence and then Peyton's personal guaranty.