MODERN HOLDINGS Inc Watch

from S-1 8 pages 01.10.2014 Lors Photography, Inc. C/O MODERN HOLDINGS Inc. 89 Summit Avenue, 2nd Floor Summit, Nj 07901 USA Attn: Jay Murray Gentlemen: We Are Pleased to Advise You That You May Request Loans From US From Time to Time Subject to Following Terms and Conditions. Facility: Uncommitted Line of Credit (“Line”) Amount: $1.000.000 at Any One Time Outstanding. Utilization: Until Otherwise Advised by US, Utilization Under This Line Will Be in the Form of Demand Loans (Each, a “Loan” and Collectively, the “Loans”) in an Aggregate Principal Amount Not to Exceed $1.000.000

from DRS 8 pages 01.31.2013 Lors Photography, Inc. C/O MODERN HOLDINGS Inc. 89 Summit Avenue, 2nd Floor Summit, Nj 07901 USA Attn: Jay Murray Gentlemen: We Are Pleased to Advise You That You May Request Loans From US From Time to Time Subject to Following Terms and Conditions. Facility: Uncommitted Line of Credit (“Line”) Amount: $1.000.000 at Any One Time Outstanding. Utilization: Until Otherwise Advised by US, Utilization Under This Line Will Be in the Form of Demand Loans (Each, a “Loan” and Collectively, the “Loans”) in an Aggregate Principal Amount Not to Exceed $1.000.000