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When it comes to ethics, we look to leaders to lead on ethics and take responsibility for both good and bad results.Philosophers have been discussing ethical leadership (as in what leaders should do) for quite some time but the topic is relatively new as an area of social scientific study.

Leadership may therefore be the most important lever in an ethical system designed to support ethical conduct.

Ethical leadership is also associated with more helpful behavior from employees, perhaps because ethical leaders model helpful behavior (Mayer et al., 2009; Walumbwa & Schaubroeck, 2009).

Until the next quarterly compliance certificate is due pursuant to the Loan Agreement, the Applicable Margin will be 1.39% per annum.

Thereafter, if any compliance certificate is not delivered when required under the Loan Agreement, the Applicable Margin from the date such certificate was due until the date that the Bank receives the same will be 2.50% per annum.(iv) “Interest Period” shall mean: (aa) an initial period commencing on the date hereof and continuing through the day immediately preceding the first Interest Rate Adjustment Date; and (bb) each period thereafter commencing on each Interest Rate Adjustment Date and continuing through the day immediately preceding the next Interest Rate Adjustment Date.(v) “Libor Rate Reference Page” shall mean any of the following reference pages or sources (as selected from time to time by the Bank in its discretion): (aa) the Dow Jones Telerate Page 3750; (bb) the Reuters Screen LIBO Page; or (cc) such other index or source as the Bank may in its sole discretion select showing rates offered for United States dollar deposits in the London Interbank market.(b) Interest shall be calculated on the basis of a 360 day year (based upon the actual number of days elapsed) (or, at the Bank’s option, on the basis of a 360-day year consisting of twelve 30-day months).(c) The total liability of the Borrower and any endorsers or guarantors hereof for payment of interest shall not exceed any limitations imposed on the payment of interest by applicable usury laws.

THIS NOTE RENEWS AND INCREASES THAT CERTAIN RENEWAL PROMISSORY NOTE (THE "PRIOR NOTE") DATED SEPTEMBER 7, 2004, EXECUTED BY THE BORROWER IN FAVOR OF THE BANK IN THE ORIGINAL PRINCIPAL AMOUNT OF $20,000,000.00.

ALL FLORIDA DOCUMENTARY STAMP TAXES DUE HEREON HAVE BEEN PREVIOUSLY PAID TO THE FLORIDA DEPARTMENT OF REVENUE. If this Note is renewed, it will continue to be subject to all the terms and conditions set forth herein except as modified by the Renewal Notice.

This Note shall be governed by the following provisions: .

The Borrower and the Bank have executed a Loan Agreement (as amended or restated from time to time, the “Loan Agreement”), dated July 31, 2003.

In addition, a study summarized in Harvard Business Review reported that good leadership impacts the bottom line.

Researchers found that CEOs whose employees gave them high marks for character had an average return on assets of 9.35% over a two-year period.

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