Business Investor Update

BUSINESS INVESTOR UPDATE

Report Date:

Parties and Identifying Information

Recitals

WHEREAS, Company and Investor previously entered into an investment agreement dated (the Investment Agreement), pursuant to which the Investor provided capital to the Company in consideration for equity or convertible instruments; and

WHEREAS, the parties desire to document and communicate the current business status, material developments, use of proceeds, and any proposed follow-on funding, and to confirm certain representations and payment arrangements as set forth below.

WHEREAS, this Business Investor Update is intended to supplement and not supersede the Investment Agreement except where expressly stated herein.

Scope of Update

Financial Summary

Use of Proceeds and Expenditures

Material Developments

Capitalization and Securities

Current pre-money valuation (if applicable):

Associated Documents and Attachments

Included with this update: Financial statements Updated cap table Investor presentation Other

Payment Terms

In consideration for any agreed fees, the parties agree as follows. Payment Amount: . Payment Schedule: . Late fee: .

All payments due under this Update shall be made in lawful currency and are non-refundable except as expressly set forth in the Investment Agreement. Late charges accrue from the date due until paid and are cumulative of other remedies available at law or equity.

Term and Termination

This Business Investor Update is effective as of Start Date: and will remain in effect through End Date: unless earlier terminated as provided herein.

Either party may terminate this Update by delivering written notice to the other party at least days prior to the intended termination date. Termination of this Update shall not relieve any party of obligations accrued prior to termination.

Confidentiality

The parties acknowledge that certain information disclosed in this Update may be confidential. Each recipient shall hold confidential information in strict confidence and shall not disclose such information to any third party except to its affiliates, legal counsel, accountants, or other representatives on a need-to-know basis who are bound by substantially similar confidentiality obligations. Confidential information does not include information that is or becomes publicly known through no breach of this obligation or is required to be disclosed by operation of law, provided the disclosing party is given prompt notice to seek confidential treatment.

Representations and Warranties

Company represents and warrants that the information contained in this Update is true and complete to the best of its knowledge as of the Report Date, and that there has been no material adverse change in the business or financial condition of the Company since such date except as disclosed herein. Investor represents that it shall rely only on its own due diligence and not solely on this Update in making any decision.

Governing Law

This Update shall be governed by and construed in accordance with the laws of the state specified below without regard to choice of law principles.

Entire Agreement

This Business Investor Update, together with the Investment Agreement and any exhibits or attachments explicitly incorporated herein, constitutes the entire agreement between the parties with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, relating to such subject matter, except to the extent the Investment Agreement expressly provides otherwise.

Additional Covenants

The Company agrees to provide reasonably requested follow-up information to the Investor within days of any written request for clarification of matters disclosed in this Update.

Certifications

By signing below, each signatory certifies that he or she is duly authorized to execute this Business Investor Update on behalf of the party for which they sign and that the information provided herein is accurate and complete as of the Report Date to the best of their knowledge.

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