Extract to table

This Settlement Term Sheet (this "Term Sheet") sets forth the binding terms upon which the above-referenced litigation, including all claims and counterclaims asserted therein, shall be resolved, as agreed upon by the Parties identified below at the conclusion of a full-day mediation session conducted on August 2, 2023

In full and final settlement of all claims and counterclaims in the Litigation, Nexford shall pay to Cardinal Peak the total sum of $1,890,000

The Settlement Amount shall be payable by Nexford to Cardinal Peak in two installments, as follows: (a) First Installment

00 (Seven Hundred Fifty-Six Thousand Dollars), representing forty percent (40%) of the Settlement Amount, shall be due and payable within ninety (90) calendar days following the date of execution of the definitive Settlement Agreement and Mutual Release

The accrual of interest on any overdue payment shall not in any way limit or waive Cardinal Peak's right to seek enforcement of the payment obligations set forth herein

Nexford represents that it does not anticipate that the payment of the Settlement Amount will cause a default or breach under its credit facility, and Nexford shall promptly notify Cardinal Peak and its counsel if it becomes aware of any such issue