Document:

Guaranty Agreement

 Exhibit 10.18.2 

GUARANTY OF PAYMENT AND PERFORMANCE 

THIS GUARANTY OF PAYMENT AND PERFORMANCE (this “Guaranty”) is made as of December 15, 2010, by
Newtek Business Services, Inc., a corporation organized under the laws of the State of New York having an address at 1440 Broadway, 17th Floor, New York, NY 10018 (“Guarantor”), in favor of Capital One, N.A., having its principal place of
business at 275 Broadhollow Road, Melville, New York 11747 (“Lender”). 
 R E C I T A L S : 

WHEREAS, the Lender has agreed to make revolving loans to Newtek Small Business Finance, Inc., a majority owned subsidiary of
Guarantor (the “Borrower”) in the maximum principal amount not to exceed Twelve Million and No/100 dollars ($12,000,000.00) (collectively the “Loan”), which Loan is evidenced by a promissory note of even date herewith
(collectively, together with all extensions, renewals, modifications, substitutions and amendments thereof, the “Note”). 
 WHEREAS, the Loan is secured by, among other things, a Revolving Loan and Security Agreement (together with all extensions, renewals, modifications, substitutions and amendments thereof, the
“Loan and Security Agreement”; unless otherwise indicated, capitalized terms used herein which are not defined shall have the respective meanings assigned to them in the Loan and Security Agreement), dated as of the date hereof, which
grants Lender a first priority lien on the Collateral. 
 WHEREAS, Lender requires as a condition to the making of the
Loan that Guarantor shall have executed and delivered this Guaranty for the benefit of Lender; and 
 WHEREAS, Guarantor
believes that the financing arrangements between Borrower and Lender will further the business and interests of Guarantor; 

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt of which is hereby
acknowledged, and in order to induce Lender to make the Loan to Borrower, Guarantor hereby represents, warrants and covenants to Lender as follows: 
 1. Authorization and Enforceability of Loan Documents. Guarantor has taken all steps required to authorize and has in its capacity as shareholder of the Borrower authorized the execution and
delivery of the Note and Loan and Security Agreement. To the best of its knowledge the Note and Loan and Security Agreement have been duly authorized and executed by Borrower and are legal, valid and binding instruments, enforceable against Borrower
in accordance with their respective terms subject to the effect of bankruptcy, insolvency, reorganization, moratorium or other legal or equitable principles now or hereafter in effect generally affecting creditors’ rights and remedies.

 2. Obligations Guaranteed. Guarantor unconditionally guarantees to Lender (i) the prompt and unconditional
payment of all of the Obligations under the Loan and Security Agreement, including without limit the Loan and the interest thereon, whether now or hereafter advanced, as the same shall become due and payable under the Note and the Loan and Security

  
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Agreement, as well as under any whether at stated maturity, by acceleration or otherwise, and any and all sums of money which, at the time, may have become or become due and payable under the
provisions of the Loan and Security Agreement or any other Loan Document, and the due and prompt performance of all of the terms, agreements, covenants and conditions of the Note, the Loan and Security Agreement and the other Loan Documents;
(ii) payment in full of any and all expenses that may be paid or incurred by Lender in the collection of all or any portion of Guarantors’ obligations hereunder or the exercise or enforcement of any one or more of the other rights, powers,
privileges, remedies and interests of the Lender under the Loan Documents or hereunder, irrespective of the manner or success of any such collection, exercise or enforcement, and whether or not such expenses constitute part of the Borrower’
obligations; and (iii) performance of all Borrower’s (and all of the other entities guaranteeing the Loan) covenants and obligations contained herein and/or therein. Guarantor’s obligation to cause Borrower and the other guarantors to
take any action with respect to their respective covenants and obligations shall be limited to those actions consistent with its status as the sole stockholder (or as a member or majority stockholder as applicable) of such parties and shall be
exercised through the power consequent upon such status. 
 3. Unconditional Guaranty. This Guaranty is an absolute,
unconditional, present and continuing guaranty of payment and performance and not of collection and is in no way conditioned or contingent upon any attempt to enforce Lender’s rights against Borrower or to collect from the Borrower or upon any
other condition or contingency; accordingly, Lender shall have the right to proceed against Guarantor immediately upon any Event of Default under the Loan Documents without taking any prior action or proceeding to enforce the Loan Documents or to
liquidate or foreclose on any security Lender may at any time hold pursuant thereto. Guarantor hereby waives and releases any claim (within the meaning of 11 U.S.C. § 101) which Guarantor may have against Borrower arising from a payment made by
Guarantor under this Guaranty and agrees not to assert or take advantage of any subrogation rights of Guarantor or any other right of Guarantor to proceed against Borrower for reimbursement. It is expressly understood that the waivers and agreements
of Guarantor constitute additional and cumulative benefits given to Lender for its security and as an inducement for its extension of credit to Borrower. 
 4. Liability Unimpaired. Guarantor’s liability hereunder shall in no way be limited or impaired by, and Guarantor hereby consents to and agrees to be bound by, any amendment, extension or
modification of the provisions of any of the Loan Documents or any other instrument made to or with Lender by Borrower or any other guarantor, or any Person who succeeds Borrower as owner of all or part of the Collateral prior to foreclosure of the
Loan and Security Agreement or exercise of any power of sale contained therein. In addition, Guarantor’s liability hereunder shall in no way be limited or impaired by (i) any extensions of time for performance required by any of said
documents, (ii) any sale, assignment or foreclosure of the Note or Loan and Security Agreement or any sale or transfer of all or part of the property covered by the Loan and Security Agreement, (iii) any exculpatory provision in any of
said instruments limiting Lender’s recourse to the Collateral or to any other security, or limiting Lender’s rights to a deficiency judgment against Borrower, (iv) the release of Borrower or any other person (including, without limit,
any other guarantor) from performance or observance of any of the agreements, covenants, terms or conditions contained in any of said instruments by operation of law or otherwise, (v) the release or substitution in whole or in part of any
security 

  
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for the Loan, (vi) Lender’s failure to record the Loan and Security Agreement or file any UCC financing statements (or Lender’s improper recording or filing of any thereof) or to
otherwise perfect, protect, secure or insure any security interest or lien given as security for the Loan, (vii) the invalidity, irregularity or unenforceability, in whole or in part, of any of the Loan Documents, this Guaranty or any other
instrument or agreement executed or delivered to Lender in connection with the Loan, except to the extent that there is a final adjudication by a court of competent jurisdiction of a valid defense to Borrower’s obligations under the Loan
Documents to payment of the Indebtedness, (viii) the inaccuracy of any of the representations and warranties made by Borrower in the Loan and Security Agreement, the other Loan Documents or any disbursement certificates or requests for
disbursements made under the Loan Agreement, or (ix) any other action or circumstance whatsoever which constitutes, or might be construed to constitute, a legal or equitable discharge or defense (except full payment and satisfaction) of
Borrower for its obligations under any of the Loan Documents or of any Guarantor under this Guaranty (whether as surety, guarantor or otherwise); and, in any such case, whether with or without notice to Guarantor and with or without consideration.

 5. Preservation of Loan Documents. Guarantor will cause Borrower to maintain and preserve the enforceability of the
Loan Documents as the same may be modified and will not permit Borrower to take or to fail to take actions of any kind, the taking of which or the failure to take which might be the basis for a claim that Guarantor has a defense to Guarantor’s
obligations hereunder. 
 6. Security; Events of Default. Pursuant to the terms of Guarantor Security Agreement of even
date herewith, as security for any and all of the obligations of Guarantor under this Guaranty, now existing or hereafter arising hereunder or otherwise (collectively, the “Liabilities”), Guarantor hereby grants to the Lender a lien upon
and a security interest in any and all moneys or other property (i.e., goods and merchandise, as well as any and all documents relative thereto, funds, securities, chooses in action and any and all other forms of property whether real, personal or
mixed, and any right, title or interest of Guarantor therein or thereto), and the proceeds thereof, which have been, or may hereafter be, deposited or delivered to the Lender (or with any third party acting on the Lender’s behalf) by or for the
account or credit of Guarantor whether for safekeeping, custody, pledge, deposit, transmission, collection or otherwise and a lien upon and a security interest in all of its other assets pursuant to a security agreement of even date herewith. All
remittances and property shall be deemed delivered to the Lender as soon as put in transit to the Lender by mail or carrier. 

Upon the occurrence of any of the following events or any other agreement with Lender (each an “Event of Default”):
(a) Guarantor defaults under this Guaranty or any Loan Document or any other agreement with Lender to which Guarantor is a party; (b) any representation or warranty made by Guarantor herein or in any other Loan Document to which Guarantor
is a party is false or untrue as of the date such representation or warranty is made; (c) Guarantor commences any case, proceeding, or other action under any law of any jurisdiction relating to bankruptcy, insolvency, reorganization, or relief
of debtors or seeks to have an order for relief entered with respect to Guarantor or seeks to be adjudicated a bankrupt or insolvent, or seeks reorganization, arrangement, adjustment, liquidation, dissolution, composition or other relief with
respect to Guarantor or Guarantor’s debts, or seeks the appointment of a receiver, trustee, custodian, or other similar official for Guarantor or for all or any substantial part of 

  
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Guarantor’s property; (d) Guarantor makes a general assignment for the benefit of creditors; (e) there is commenced against Guarantor, any case, proceeding or other action of the
type referred to in clause (c) above or seeking the issuance of a warrant of attachment, execution, distrait, or similar process against all or any substantial part of Guarantor’s property, which case, proceeding or other action results in
an entry of an order for relief or is not dismissed, discharged or bonded within sixty days of the commencement thereof; (f) Guarantor takes any action indicating Guarantor’s consent to, approval of, or acquiescence in or in furtherance
of, any of the acts set forth in clause (c) and (e) above; (g) Guarantor admits in writing Guarantor’s inability to pay Guarantor’s debts as they mature; (h) Guarantor terminates or dissolves or suspends
Guarantor’s usual business activities or conveys, sells, leases, transfers or otherwise disposes of all or a substantial part of Guarantor’s property, business or assets other than in the ordinary course of business; (j) there shall
be any default under or demand made under any other financing agreement or guaranty to which it is a party; or (k) the existence or occurrence at any time of one or more conditions or events which, in the reasonable good faith opinion of the
Lender, has resulted or is reasonably likely to result in a material adverse change in the business, properties or financial condition of Guarantor, then, any or all of the obligations of Guarantor shall, at the Lender’s option, become (for the
purpose of this Guaranty) immediately due and payable by Guarantor, without demand or notice. In addition, upon the occurrence of any Event of Default, the Lender shall have all of the rights and remedies provided to a secured party by the Uniform
Commercial Code as in effect in New York State at that time. Guarantor agrees that in the event that notice is necessary, written notice provided in accordance with paragraph 26 of this Guaranty and given below five Business Days prior to the date
of public sale of the property subject to the lien and security interest created herein or prior to the date after which private sale or any other disposition of said property will be made shall constitute reasonable notice. 

7. Indemnification; Payments; Certain Waivers. Guarantor (i) waives any right or claim of right to cause a marshalling of
Borrower’s assets or to cause Lender to proceed against any of the security for the Loan or for the obligations guaranteed hereby before proceeding against Guarantor, (ii) agrees that any payments required to be made by Guarantor hereunder
shall become due on demand in accordance with the terms of paragraph 2 hereof and without presentment to Borrower, demand for payment or protest, or notice of non-payment or protest, and (iii) except as hereinafter provided, expressly waives
and relinquishes all rights and remedies accorded by applicable law to guarantors. Without limiting the generality of the foregoing, Guarantor hereby waives all rights (x) to participate in any claim or remedy Lender may now or hereafter have
against Borrower or in any collateral which Lender has or hereafter may acquire for the obligations guaranteed hereby and (y) except as provided below, to contribution, indemnification, set-off, exoneration or reimbursement, whether from
Borrower, Guarantor, or any other person now or hereafter primarily or secondarily liable for any of Borrower’ obligations to Lender, and whether arising by contract or operation of law or otherwise by reason of Guarantor’s execution,
delivery or performance of this Guaranty. Guarantor does not waive and hereby retains all rights of subrogation, contribution, indemnification, set-off or reimbursement against Borrower or any other guarantor that Guarantor may have (the
“Undersigned’s Rights”); provided, however, that (i) this Guaranty shall neither be contingent upon the existence of the Undersigned’s Rights nor subject to any claims or defenses whatsoever which may be
asserted in connection with the enforcement or attempted enforcement of the Undersigned’s Rights including, without limitation, any claim that the Undersigned’s Rights were abrogated by any of Lender’ acts, and (ii) until the
Loan shall 

  
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have been paid in full, Guarantor hereby postpones and subordinates (A) the exercise of any and all of the Undersigned’s Rights to Lender’s rights against Guarantor under this
Guaranty or against Borrower under any of the Loan Documents, and (B) any of the Undersigned’s Rights to any collateral securing the Loan. 
 8. Reinstatement. This Guaranty shall continue to be effective, or be reinstated automatically, as the case may be, if at any time payment, in whole or in part, of any of the obligations guaranteed
hereby is rescinded or otherwise must be restored or returned by Lender (whether as a preference, fraudulent conveyance or otherwise) upon or in connection with the insolvency, bankruptcy, dissolution, liquidation or reorganization of Borrower,
Guarantor or any other person, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, either Borrower, Guarantor, any other Credit Party or any other person or for a substantial part
of Borrower’s, Guarantor’s, or any of such other person’s property, as the case may be, or otherwise, all as though such payment had not been made. Guarantor further agrees that in the event any such payment is rescinded or must be
restored or returned, all costs and reasonable expenses (including, without limitation, reasonable legal fees and expenses) incurred by or on behalf of Lender in defending or enforcing such continuance or reinstatement, as the case may be, shall
constitute costs of enforcement, the payment of which is guaranteed by Guarantor pursuant to paragraph 2 above and covered by Guarantor’s indemnity pursuant to paragraph 7 above. 

9. Litigation, Compliance with Judgments. Guarantor represents and warrants with respect to itself that there are no actions,
suits or proceedings pending or threatened against or affecting Guarantor, at law, in equity or before or by any governmental authorities which would have a material adverse effect on Guarantor’s ability to perform its obligations hereunder; to
the best of Guarantor’s knowledge, Guarantor is not in default with respect to any order, writ, injunction, decree or demand of any court or governmental authorities. 
 10. No Conflicts. Guarantor represents and warrants with respect to itself that the consummation of the transactions contemplated hereby and the performance of this Guaranty and the other Loan
Documents to which Guarantor is a party have not resulted and will not result in any breach of, or constitute a default under, any mortgage, deed of trust, lease, bank loan or credit agreement, corporate charter, by-laws, partnership agreement or
other instrument to which Guarantor is a party or by which Guarantor may be bound or affected. 
 11. Compliance with
Laws. Guarantor represents and warrants with respect to itself that Guarantor is in compliance with, and the transactions contemplated by the Loan Documents and this Guaranty do not and will not violate any provision of, or require any filing,
registration, consent or approval under, any federal, state or local law, rule, regulation, ordinance, order, writ, judgment, injunction, decree, determination or award (hereinafter, “Laws”) presently in effect having applicability to
Guarantor, and agrees that Guarantor will comply promptly with all laws now or hereafter in effect having applicability to Guarantor. 
 12. Accuracy of Information; Full Disclosure. Guarantor represents and warrants with respect to itself that neither this Guaranty nor any documents, financial statements, reports, notices,
schedules, certificates, statements or other writings furnished by or on behalf of Guarantor to Lender in connection with the negotiation of the Loan Documents or the 

  
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consummation of the transactions contemplated thereby, or required herein or by the other Loan Documents to be furnished by or on behalf of Guarantor, contains any untrue or misleading statement
of a material fact; there is no fact which Guarantor has not disclosed to Lender in writing which materially affects adversely any of the property covered by the Loan and Security Agreement or the business affairs or financial condition of
Guarantor, or the ability of Guarantor to perform this Guaranty and the other Loan Documents to which Guarantor is a party. 

13. Financial Statements and Covenants. (a) Guarantor represents and warrants with respect to itself that the most recent
financial statements heretofore delivered by Guarantor to Lender are true and correct in all respects, have been prepared in accordance with sound accounting principles consistently applied and fairly present Guarantor’s financial condition as
of the date thereof, and no material adverse change has occurred in the financial condition reflected therein since the date thereof. 
 (b) In the event Borrower shall make any loans or advances to Guarantor, the proceeds thereof shall be used solely (i) for working capital by Guarantor in the operation of its business in the
ordinary course, or (ii) except during the continuance of a Default or Event of Default (as such terms are defined in the Loan and Security Agreement) or during the continuance of an Event of Default hereunder, for making loans and advances to
any other “Guarantor” as such term is defined in the Loan and Security Agreement; provided, such loans and advances are each at all times secured and fully subordinated to Lender, in each case pursuant to security documents and
subordination documents in form and substance satisfactory to Lender. 
 (c) Guarantor shall deliver to Lender or cause to be
delivered to Lender all financial statements required under the Loan and Security Agreement. 
 (d) Guarantor shall deliver to
Lender within twenty (20) days of filing, but in no event more than fifteen (15) days after the last permitted extension for filing without penalty, its signed federal tax returns. 

(e) Promptly after a written request therefor, such other financial data or information as the Lender may reasonably request from time to
time. 
 (f) Guarantor agrees and acknowledges that any now existing or hereinafter created loan from Guarantor to the Borrower
shall at all times be subordinate to the Loan in all respects and absent the consent of the Lender no repayments may be made by the Borrower in respect thereof. 
 (g) Guarantor shall at all times during the term of the Loan maintain its primary bank accounts with the Lender. 
 (h) Guarantor shall provide copies of all financial statements, reports and the like, as required pursuant to the Loan and Security Agreement. 

(i) Promptly upon its becoming available, Guarantor shall provide Lender with one copy of each financial statement, report, notice or
proxy statement sent by Guarantor to stockholders generally pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 

  
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1934, as amended, and, a copy of each regular or periodic report, and any registration statement, or prospectus in respect thereof, filed by Guarantor with any securities exchange or with federal
or state securities and exchange commissions or any successor agency. 
 (j) Guarantor agrees and acknowledges that it shall
maintain all of its Subsidiaries and Affiliates as separate and independent entities consistent with the standards of Section 6.18 of the Loan and Security Agreement and shall not allow the Collateral under the Loan and Security Agreement to
become intermingled with any Person that is not a Credit Party, nor shall it suffer or permit any of the Collateral to be directly or indirectly pledged to any party other than the Lender. 

14. Non-Waiver Remedies Cumulative. No failure or delay on Lender’s part in exercising any right, power or privilege under
any of the Loan Documents, this Guaranty or any other document made to or with Lender in connection with the Loan shall operate as a waiver of any such privilege, power or right or shall be deemed to constitute Lender’s acquiescence in any
default by Borrower or Guarantor under any of said documents. A waiver by Lender of any right or remedy under any of the Loan Documents, this Guaranty or any other document made to or with Lender in connection with the Loan on any one occasion shall
not be construed as a bar to any right or remedy which Lender otherwise would have on any future occasion. The rights and remedies provided in said documents are cumulative, may be exercised singly or concurrently and are not exclusive of any rights
or remedies provided by law. 
 15. Transfers of Interests in Loan. Guarantor recognizes that Lender may sell and
transfer interests in the Loan to one or more participants and/or assignees (collectively, “Participants”) and that all documentation, financial statements, appraisals and other data, or copies thereof, relevant to Borrower, Guarantor or
the Loan, may be exhibited or delivered on a confidential basis to and retained by any such Participant or prospective Participant, with a request to any prospective Participant to return such information if it does not become a Participant.

 16. Separate Indemnity. Guarantor acknowledges and agrees that Lender’s rights (and Guarantor’s obligations)
under this Guaranty shall be in addition to all of Lender’s rights (and all of Guarantor’s obligations) under any indemnity agreement executed and delivered to Lender by Borrower and/or Guarantor or any other guarantor in connection with
the Loan, and payments by Guarantor under this Guaranty shall not reduce any of Guarantor’s obligations and liabilities under any such indemnity agreement. 
 17. Severability. Any provision of this Guaranty, or the application thereof to any person or circumstance, which, for any reason, in whole or in part, is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Guaranty (or the remaining portions of such provision) or the application thereof
to any other person or circumstance, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision (or portion thereof) or the application thereof to any person or circumstance in any
other jurisdiction. 

  
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 18. Entire Agreement; Amendments. This Guaranty contains the entire agreement of the
parties with respect to the subject matter hereof and supersedes all prior oral or written agreements or statements relating to such subject matter, and none of the terms and provisions hereof may be waived, amended or terminated except by a written
instrument signed by the Person against whom enforcement of the waiver, amendment or termination is sought. 
 19. Successors
and Assigns. This Guaranty shall be binding upon and shall inure to the benefit of Lender and Guarantor and their respective heirs, personal representatives, successors and assigns. This Guaranty may be assigned by Lender with respect to all or
any portion of the obligations guaranteed hereby, and when so assigned Guarantor shall be liable under this Guaranty to the assignee(s) of the portion(s) of the obligations guaranteed hereby so assigned without in any manner affecting the liability
of Guarantor hereunder to Lender with respect to any portion of the obligations guaranteed hereby retained by Lender. 
 20.
WAIVER OF TRIAL BY JURY. GUARANTOR, AND BY ITS ACCEPTANCE HEREOF, LENDER, EACH HEREBY AGREE NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL
NOW OR HEREAFTER EXIST WITH REGARD TO THE LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY GUARANTOR AND LENDER, AND IS INTENDED
TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. GUARANTOR AND LENDER ARE EACH HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS
WAIVER. 
 21. ADDITIONAL WAIVERS IN THE EVENT OF ENFORCEMENT. GUARANTOR HEREBY EXPRESSLY AND UNCONDITIONALLY WAIVES, IN
CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING BROUGHT BY OR ON BEHALF OF LENDER ON THIS GUARANTY, ANY AND EVERY RIGHT GUARANTOR MAY HAVE TO (I) INJUNCTIVE RELIEF, (II) INTERPOSE ANY COUNTERCLAIM THEREIN (OTHER THAN COMPULSORY
COUNTERCLAIMS), AND (III) HAVE THE SAME CONSOLIDATED WITH ANY OTHER OR SEPARATE SUIT, ACTION OR PROCEEDING. NOTHING HEREIN CONTAINED SHALL PREVENT OR PROHIBIT GUARANTOR FROM INSTITUTING OR MAINTAINING A SEPARATE ACTION AGAINST LENDER WITH
RESPECT TO ANY ASSERTED CLAIM. 
 22. Governing Law; Submission To Jurisdiction. This Guaranty and the rights and
obligations of the parties hereunder shall in all respects be governed by, and construed and enforced in accordance with, the laws of the State of New York (without giving effect to New York’s principles of conflicts of law other than
Section 5-1401 of the New York General Obligations Law). Guarantor hereby irrevocably submits to the non-exclusive jurisdiction of the Courts of New York State or the United States District Court for the Eastern District of New York over any
suit, action or proceeding arising out of or relating to this Guaranty, and Guarantor hereby agrees and consents that, in addition to any methods of service of process provided for under applicable law, all service of process in any such suit,
action or proceeding in 

  
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any of the Courts of New York State or the United States District Court for the Eastern District of New York may be made by certified or registered mail, return receipt requested, directed to
Guarantor at the address indicated below, and service so made shall be complete five (5) days after the same shall have been so mailed. 
 23. Paragraph Headings. Any paragraph headings and captions in this Guaranty are for convenience only and shall not affect the interpretation or construction hereof. 

24. Liability Unaffected by Release. Subject only to written notice to Guarantor, any other Person liable upon or in respect of
any obligation hereby guaranteed, may be released without affecting the liability of Guarantor hereunder. 
 25. Joint and
Several Obligations. If more than one Person comprises Guarantor, then each such Person’s obligations and liability under this Guaranty shall be joint and several. 
 26. Notices. Notices shall be given in the manner provided in the Loan and Security Agreement and with respect to Guarantor at the address set forth on the signature page hereto. Guarantor
acknowledges reviewing the notice provision contained in the Loan and Security Agreement and accepts the provisions thereof. 

27. Additional Indebtedness. Without the prior written consent of Lender, so long as any Indebtedness is outstanding, Guarantor
shall not incur any direct or indirect indebtedness for borrowed money other than (i) indebtedness to Lender, and (iii) unsecured trade indebtedness incurred in the ordinary course of business. Guarantor represents that no portion of the
collateral pledged to Lender under the Loan Documents is pledged to any other Person (other than with respect to the SBA Loans to the SBA). 
 28. Counterparts. This Guaranty may be executed in any number of counterparts, each of which shall be an original and all of which shall constitute together but one and the same agreement.

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 IN WITNESS WHEREOF, Guarantor has caused this Guaranty to be duly executed and
delivered by its duly authorized official as of the date first above stated. 
  

			
	NEWTEK BUSINESS SERVICES INC.
		
	By:	 	     /s/

	Name:	 	Barry Sloane
	Title:	 	Chairman and Chief Executive Officer
	Address:	 	 1440 Broadway,
17th Floor,

		 	 New York, NY 10018

  
 10Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS AGREEMENT (this “Agreement”) is
entered into on February 28, 2011, but is effective as of November 10, 2010 (“Effective Date”), between Flotek Industries, Inc., a Delaware corporation (the “Company”), and Johnna Kokenge (“Employee”).

 In consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Employment. The Company shall
employ and continue to employ Employee, and Employee shall be employed and continue to be employed with the Company, upon the terms and conditions set forth in this Agreement for the period beginning on the Effective Date and ending on the
Termination Date, as defined in Section 4 hereof (the “Employment Period”). 
 2. Position and Duties.

 (a) Employee shall initially serve as Vice President and Chief Accounting Officer of the Company and shall be responsible for
such duties as are normally performed by a Chief Accounting Officer in companies similarly situated with the Company, and such other duties, consistent with the duties customarily performed by a Chief Accounting Officer as may be reasonably
prescribed by the Board of Directors of the Company or the President or Chief Executive Officer of the Company. The Employee shall report directly to the President of the Company. 

(b) Employee shall devote her reasonable best efforts and her full business time and attention (except for permitted vacation periods,
periods of illness or other incapacity) to the business and affairs of the Company. 
 3. Make-Up Payment, Base Salary and
Benefits. 
 (a) Employee has been paid a one-time payment of $16,250 as additional compensation for the period from
August 1, 2010 through November 9, 2010. 
 (b) Employee’s annual base salary for the Employment Period shall be
$215,000 (the “Base Salary”). The Base Salary shall be payable in approximately equal installments in accordance with the Company’s general payroll practices and shall be subject to required withholding. During the Employment Period,
Employee shall be entitled to participate in all of the Company’s employee benefit programs for which employees of the Company are generally eligible, at a level commensurate with Employee’s position in the Company. 

(c) Pursuant to that certain Restricted Stock Agreement between the Company and Employee dated November 10, 2010 (the
“RSA”), Employee has been issued 100,000 shares of the common stock of the Company (the “Shares”) pursuant to the 2010 Long-Term Incentive Plan of the Company (the “2010 Plan”), subject to the vesting provisions set
forth in the RSA. 

 (d) Employee shall be entitled to annual bonuses in accordance with the Management Incentive
Plan of the Company, with a “Target Bonus” for purposes of such plan of 50% of Base Salary (a “Target Bonus”) for each of calendar year 2010 and 2011. 
 (e) The Company shall reimburse Employee for all reasonable expenses incurred by her in the course of performing her duties under this Agreement which are consistent with the Company’s policies in
effect from time to time for its employees with respect to travel, entertainment and other business expenses, subject to the Company’s requirements for its employees with respect to reporting and documentation of such expenses pursuant to
applicable Treasury Regulations. 
 (f) In addition to the Base Salary, Employee will be eligible to receive raises, bonuses and
cash and/or equity incentive compensation to the extent approved from time to time by the Board of Directors of the Company, in its discretion. 
 (g) Employee shall be eligible for vacations as permitted under Company’s policies in effect from time to time, with a minimum of four weeks of vacation during each year in the Employment Period.

 4. Term and Termination. 
 (a) The Employment Period shall continue until terminated upon the earlier of (i) December 31, 2012 (the “Expiration Date”), (ii) Employee’s resignation with or without Good
Reason or Employee’s death or Disability, or (iii) the termination of the Employment Period by the Company with or without Cause. The date on which Employee’s employment with the Company terminates is referred to herein as the
“Termination Date.” On each Expiration Date, the Expiration Date shall be deemed to have been amended and extended to December 31st of the following year, unless at least six months prior to the Expiration Date on which such amendment and extension
is deemed to have occurred either party hereto provides written notice to the other party hereto that she or it has elected (with or without any reason or cause) for the Expiration Date to not to be so amended and extended. 

(b) Employee’s employment with the Company will be “at will,” meaning that either Employee or the Company may
terminate Employee’s employment at any time and for any reason, with or without Cause or Good Reason. Any contrary representations that may have been made to Employee are superseded by this Agreement. However, depending on the reason for such
termination, Employee may be eligible for a severance package on the terms and conditions set forth below. 
 5.
Severance. In no way limiting the Company’s policy of employment at will: 
 (a) If Employee’s employment with
the Company is terminated by the Company without Cause (but not in connection with a Change of Control which is subject to Section 5(b)) or by Employee with Good Reason prior to the Expiration Date, and provided that within sixty (60) days
following the termination of Employee’s employment with the Company Employee signs and delivers to the Company a Confidential Severance and Release Agreement in 

  
 2 

 
substantially the same form as that attached hereto as Exhibit A (the “Release Agreement”) (the effective date of the Release Agreement is referred to herein as the “Release
Date”), Employee shall be entitled to receive: 
  

	 	(i)	Severance compensation equal to 75% of the sum of her annual Base Salary and Target Bonus in effect for the year in which the Termination Date occurs, payable in nine
monthly installments equal to one-ninth of such severance compensation, subject to required withholding, payable at the end of each of the next nine full calendar months following the first full calendar month following the Release Date;

  

	 	(ii)	Coverage at Company expense under the employee health insurance plan of the Company for the period of eight months following the Release Date, or, if less, the maximum
time period permitted under COBRA. 

 (b) If within 3 months before or six months after a Change of Control
Employee’s employment with the Company is terminated (i) by the Company without Cause or (ii) by Employee for any reason, Employee shall be entitled to receive severance compensation equal to the greater of (A) the sum of her
annual Base Salary and Target Bonus in effect for the year in which the Termination Date occurs or (B) the sum of her annual Base Salary and Target Bonus in effect for the year in which the Termination Date occurs, annualized over the period
from the Termination Date until the Expiration Date, which shall be payable immediately upon such termination. “Change of Control” shall have the meaning given to such term in the 2010 Plan and shall also mean John Chisholm no longer
serving as President of the Company. 
 (c) If Employee’s employment with the Company is terminated for Cause or death or
Disability, or Employee resigns without Good Reason, Employee shall be entitled to receive only: (i) Employee’s Base Salary earned and payable through the Termination Date; (ii) any accrued but unused vacation/time off to the extent
required under applicable law; (iii) reimbursement for all incurred but unreimbursed expenses to the extent Employee is entitled to be reimbursed; and (iv) any other earned but unpaid compensation, if applicable, as of the Termination
Date. 
 (d) For purposes of this Agreement, the following terms shall have the meanings set forth below: 

“Cause” shall mean (i) Employee’s continued failure to substantially perform one or more of
Employee’s essential duties and obligations to the Company (other than any such failure resulting from a Disability) which, to the extent such failure is remediable, Employee fails to remedy in a reasonable period of time (not to exceed 30
days) after receipt of written notice from the Company; (ii) Employee’s refusal or failure to comply with the reasonable and legal directives of the Board of Directors after written notice from the Board describing Employee’s failure
to comply and, if such failure is remediable, Employee’s failure to remedy same within 30 days of receiving written notice; (iii) any act of personal dishonesty, fraud or misrepresentation taken by Employee which was intended to result in
substantial gain or personal enrichment of the Employee at the expense of the Company; (iv) Employee’s violation of a federal or state 

  
 3 

 
law or regulation applicable to the Company’s business which violation was or is reasonably likely to be materially injurious to the Company; (v) Employee’s conviction of, or plea
of nolo contendere or guilty to, a felony under the laws of the United States or any State that is reasonably likely to be materially injurious to the Company; (vi) Employee’s abuse of drugs, other narcotics or alcohol where such abuse
(whenever occurring) impacts on Employee’s working day, (vii) Employee’s breach of any of her material obligations under any written agreement with the Company (including without limitation this Agreement and any proprietary
information and inventions assignment agreement with the Company) which, to the extent such failure is remediable, Employee fails to remedy in a reasonable period of time (not to exceed 30 days) after receipt of written notice from the Company; or
(viii) Employee’s violation of a material written policy of the Company which, to the extent such failure is remediable, Employee fails to remedy in a reasonable period of time (not to exceed 30 days) after receipt of written notice from
the Company. 
 “Disability” shall have the meaning assigned to such term in Section 22(e)(3) of
the Internal Revenue Code of 1986, as amended (the “Code”). 
 “Good Reason” shall exist upon
the occurrence of one of the following Company actions (unless Employee consents in writing to such action(s)): (i) a reduction of the Employee’s salary or a material reduction in employee benefits to which the Employee was entitled
immediately prior to such reduction, (ii) a material reduction in the duties, authority or responsibilities relative to the Employee’s duties, authority or responsibilities as in effect immediately prior to such reduction; (iii) the
relocation of the Employee to a facility or a location more than fifty (50) miles from the Employee’s then present location; or (iv) a change without the consent of the Employee of the status of the Employee as a person who reports
directly to the President or Chief Executive Officer of the Company; provided, however, that (A) Employee must provide the Company with written notice of the occurrence of such action(s) within 60 days of the initial occurrence of such
action(s) and of her intent to terminate employment based on such action(s) and (B) the Company will have 30 days from the date that such written notice is provided by Employee to cure such action(s). 

(e) Notwithstanding anything herein to the contrary, (i) if at the time of Employee’s termination of employment with the
Company, Employee is a “specified employee” within the meaning of Section 409A of the Code, and the deferral of the commencement of any payments or benefits (or portions thereof) otherwise payable hereunder as a result of such
termination of employment is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company will defer the payment of any such payments or benefits (or portions thereof) hereunder (without any
reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six months following Employee’s termination of employment with the Company (or the earliest date as is permitted under Section 409A of
the Code) to the extent and amount necessary to comply with Section 409A of the Code, with such delayed payments to be made in lump sum on the first day of the seventh month following the end of such six month period, and (ii) if any other
payments of money or other benefits due to Employee hereunder could cause the application of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral

  
 4 

 
will make such payment or other benefits compliant under Section 409A of the Code, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner,
determined by the Board, that does not cause such an accelerated or additional tax. The Company shall consult with Employee in good faith regarding the application of this Section 5(e). Notwithstanding any other provision in the Agreement, the
Company and Employee will cooperate in good faith to amend or modify the Agreement so that the payments under this Agreement qualify for exemption from or comply with Code Section 409A; provided, however, that the Company makes no
representations that the payments under the Agreement shall be exempt from or comply with Code Section 409A and makes no undertaking to preclude Code Section 409A from applying to payments under the Agreement. For purposes of this
Section 5, a termination of employment only occurs if it constitutes a “separation from service” under Section 409A of the Code and the regulations promulgated thereunder. With respect to the payments indentified in
Section 5(a)(i)-(ii), each payment, including each separate installment payment identified thereunder, will be considered the right to a series of separate payments. 
 6. Confidential Information. 
 (a) Company Information. The Company
agrees, in consideration for Employee’s agreement to the various terms of this Agreement, to provide Employee with Confidential Information (as defined below) belonging to the Company. Employee agrees at all times, during the term of employment
and thereafter, to hold in strictest confidence, and not to use, except for the benefit of the Company or in connection with Employee’s responsibilities under her employment, or to disclose to any person, firm, corporation or other entity
without written authorization of an officer of the Company any Confidential Information of the Company. Employee further agrees not to make copies of such Confidential Information except as authorized in writing by the Company or required for the
performance of Employee’s responsibilities under her employment. Any such copies made pursuant to the preceding sentence shall be available to, and shall remain the sole property of, the Company at all times. Employee understands that
“Confidential Information” means any Company proprietary information, technical data, trade secrets or know-how, including, but not limited to, (i) information derived from reports, investigations, experiments, research and work in
progress, (ii) methods of operation, (iii) market data, (iv) technology, hardware, proprietary computer programs and code (in object code and source code format), (v) drawings, designs, plans and proposals, (vi) marketing
and sales programs, (vii) customer, licensee and supplier lists and any other information about the Company’s relationships with others, (viii) historical financial information and financial projections, (ix) network and system
architecture, (x) all other formulae, patterns, devices or compilations, concepts, ideas, materials and information prepared or performed for or by the Company, (xi) all information related to the business plan, business, products,
purchases or sales of the Company or any of its suppliers and customers, (xii) software or applications of software, developments, inventions, models, samples, flowcharts, statistical data and compilations, (xiii) computer programs, disks,
diskettes, tapes, and (xiv) all other proprietary information disclosed to Employee by the Company either directly or indirectly in writing, orally or by drawings or observation, or created by Employee during the period of her employment, using
Company time and/or materials or equipment. Employee understands that Confidential Information includes, but is not limited to, information pertaining to any aspects of the Company’s business which is either information not known by actual or
potential 

  
 5 

 
competitors of the Company, or proprietary information of the Company or its customers or suppliers or other third parties with which it has business relationships, whether of a technical or
financial nature, or otherwise. Employee further understands that Confidential Information does not include any of the foregoing items which are publicly available or which become publicly known and made generally available through no wrongful act
of Employee or of others who were under confidentiality obligations as to the item or items involved. 
 (b) Former Employer
Information. Employee represents and warrants that Employee’s performance of this Agreement has not breached, and will not breach, any agreement or trust relationship between himself and any former, concurrent, or subsequent employer or
other third party (collectively, “Other Party”), including, without limitation, any agreement with respect to such Other Party’s inventions, unpublished documents or confidential or proprietary information. Employee agrees that
Employee will not disclose to the Company, bring on the Company’s premises, or induce the Company to use any Other Party’s inventions, unpublished documents or confidential or proprietary information without such Other Party’s prior
written consent, a copy of which Employee also shall provide to the Company. 
 (c) Third Party Information. Employee
recognizes that the Company has received and in the future will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it
only for certain limited purposes. Employee agrees to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out
Employee’s work for the Company consistent with the terms of this Agreement. 
 7. Conflicting Employment. Employee
agrees that, during the Employment Period, Employee will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the
Employment Period, nor will Employee engage in any other activities that conflict with Employee’s obligations to the Company. 
 8. Returning Company Documents. Employee agrees that, at the time of termination of Employee’s employment with the Company, Employee will deliver to the Company (and will not keep in
Employee’s possession, copy, reproduce, recreate or deliver to anyone else) any and all devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other
documents or property, or reproductions of any of the aforementioned items developed by Employee pursuant to Employee’s employment with the Company or otherwise belonging to the Company, its successors or assigns. Employee further agrees that
any property situated on the Company’s premises or on the Company’s computers or servers, including disks and other storage media, email, and filing cabinets and other work areas, is subject to inspection by Company personnel at any time
with or without notice. 
 9. Notification of New Employer. Upon termination of Employee’s employment with the
Company, Employee hereby grants consent to notification by the Company to Employee’s new employer, or any other party with which Employee may enter into a new contractual relationship providing for the provision of Employee’s services,
solely of Employee’s confidentiality obligations under Section 6 of this Agreement. 

  
 6 

 10. Certain Covenants. 

(a) Solicitation of Employees, Consultants and Customers. In consideration of the Company’s obligations under this Agreement
and the other consideration recited above, including but not limited to the Company’s obligations pursuant to Section 5, Employee agrees that, during the Employment Period and for a period of twelve months immediately following the
Termination Date (“Restricted Period”), Employee shall not, either directly or indirectly, either alone or in concert with others, solicit, induce, recruit, encourage or entice, or attempt to solicit, induce, recruit, encourage or entice,
any employee of or consultant to the Company to leave the Company or work for anyone in the businesses in which the Company and its affiliates are engaged at any time during the one-year period ending on the Termination Date. 

(b) Severability. If at any time the provisions of this Section 10 are determined to be invalid or unenforceable by reason of
being vague or unreasonable as to area, duration or scope of activity, this Section 10 shall be considered divisible and shall be immediately amended to only such area, duration or scope of activity as shall be determined to be reasonable and
enforceable by the court or other body having jurisdiction over the matter; and Employee agrees that this Section 10 as so amended shall be valid and binding as though any invalid or unenforceable provision had not been included herein.

 11. Notices. Any notice provided for in this Agreement shall be in writing and shall be either personally delivered,
sent by a nationally recognized overnight delivery service, or mailed by first class mail, return receipt requested, to the recipient at the address below indicated: 
 Notices to Employee: 
 Johnna Kokenge 

142 Vieux Carre Drive 
 Houston, Texas 77009 
 Notices to the Company: 

Flotek Industries, Inc. 
 2930 W. Sam Houston Pkwy. N., Suite 300 
 Houston, TX 77043 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party.
Any notice under this Agreement shall be deemed to have been given when so delivered or, if sent by first class mail, three (3) days after so mailed. 
 12. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision

  
 7 

 
of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not
affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

13. Complete Agreement. Except with respect to any proprietary information and inventions assignment agreement between the Company
and the Employee, this Agreement embodies with respect to the subject matter hereof the complete agreement and understanding among the parties and supersedes and preempts with respect to the subject matter hereof any prior understandings, agreements
or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 

14. Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of
which taken together constitute one and the same agreement. 
 15. Successors and Assigns. This Agreement is intended to
bind and inure to the benefit of and be enforceable by Employee, the Company and their respective heirs, successors and assigns, except that Employee may not assign her rights or delegate her obligations hereunder without the prior written consent
of the Company except by operation of law to Employee’s estate upon the death of Employee. 
 16. Choice of Law. All
issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of Texas, without giving effect to any choice of law or
conflict of law rules or provisions (whether of the State of Texas or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Texas. 

17. Consent to Personal Jurisdiction. Subject to terms and conditions of Section 18, any suit, action or other proceeding
arising out of or based upon this Agreement shall be brought in the federal and state courts located within Harris County, Texas. 
 18. Arbitration and Equitable Remedies. 
 (a) Arbitration. Except as
provided in Section (b) below, Employee agrees that any dispute or controversy arising out of or relating to any interpretation, construction, performance or breach of this Agreement, shall be settled by arbitration to be held in Houston,
Texas, in accordance with the rules then in effect of the American Arbitration Association, provided however, the parties will be entitled to full and liberal evidentiary discovery in accordance with the rules governing civil litigation in courts of
the same jurisdiction. The arbitrator may grant injunctions or other relief in such dispute or controversy. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the
arbitrator’s decision in any court having jurisdiction. The Company shall pay the costs and expenses (other than attorneys fees) of such arbitration, and the substantially prevailing party shall be entitled to an award of attorneys fees.

  
 8 

 (b) Equitable Remedies. Each of the Company and Employee agree that disputes relating
to or arising out of a breach of the covenants contained in Sections 6 through 10 of this Agreement would likely require injunctive relief to maintain the status quo of the parties pending the appointment of an arbitrator pursuant to this Agreement.
The parties hereto also agree that it would be impossible or inadequate to measure and calculate the damages from any breach of the covenants contained in this Agreement prior to resolution of any dispute pursuant to arbitration. Accordingly, if
either party claims that the other party has breached any covenant contained in Sections 6 through 10 of this Agreement, that party will have available, in addition to any other right or remedy, the right to obtain an injunction from a court of
competent jurisdiction restraining such breach or threatened breach and/or to specific performance of any such provision of this Agreement pending resolution of the dispute through arbitration. The parties further agree that no bond or other
security shall be required in obtaining such equitable relief and hereby consents to the issuance of such injunction and to the ordering of specific performance. However, upon appointment of an arbitrator, the arbitrator shall review any interim,
injunctive relief granted by a court of competent jurisdiction and shall have the discretion, jurisdiction, and authority to continue, expand, or dissolve such relief pending completion of the arbitration of such dispute or controversy. The parties
agree that any orders issued by the arbitrator may be enforced by any court of competent jurisdiction if necessary to ensure compliance by the parties. 
 19. Amendment and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and Employee, and no course of conduct or failure or delay in
enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement. 

[Signature Page Follows] 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of
the date indicated above. 
  

			
	FLOTEK INDUSTRIES, INC.
		
	By:	 	 /s/ John Chisholm

	Name: John Chisholm
	Title: President
	
	 /s/ Johnna Kokenge

	Johnna Kokenge

 SIGNATURE
PAGE TO 
 EMPLOYMENT AGREEMENT 

 EXHIBIT A 
 CONFIDENTIAL SEVERANCE AND RELEASE AGREEMENT 
 This Confidential Severance
and Release Agreement (“Agreement”) is entered into on [date], by and between [name] (the “Employee”) and Flotek Industries, Inc. (the “Company”). 

WHEREAS, Employee was employed by Company as a [position]; 
 WHEREAS, Employee’s employment has terminated effective [date]; 
 WHEREAS,
the Company has offered to provide Employee with the a severance package to facilitate her transition from the Company as provided in Section 5 of the Employment Agreement dated effective as of February, 2011 (the “Employment
Agreement”), by and between Employee and Company, contingent on the execution delivery and effectiveness of this Agreement (the “Severance”); and 
 WHEREAS, Employee has agreed to release the Company from any claims arising from or related to Employee’s employment relationship with the Company. 

NOW THEREFORE, in consideration of the mutual promises made herein, the Company and Employee (jointly referred to as the
“Parties”) hereby agree as follows: 
 1. Termination. Employee’s employment with the Company will
terminate on [date] (the “Termination Date”). 
 2. Consideration. The Company agrees to pay Employee
the Severance, less applicable payroll deductions. Provided Employee complies with her obligations pursuant to Section 7 below, Company shall pay the severance amount in accordance with the Company’s general payroll practices as provided
in the Employment Agreement, subject to required withholding. Employee acknowledges that in the absence of this Agreement, she would not be entitled to this payment. 
 3. Release by Employee. Employee, on behalf of herself and her respective past, present, and future representatives, attorneys, agents, heirs, successors and assigns, hereby releases the Company
and its affiliates and their respective past, present, and future employees, directors, officers, representatives, attorneys, agents, heirs, successors and assigns, and each of them (collectively, the “Company Released Parties”), from any
and all claims, demands, causes of action, obligations, damages, and liabilities, whether or not now known, suspected, or claimed, that Employee may possess against the Company arising from her employment up to, until, and including the Effective
Date of this Agreement, other than claims, demands, causes of action, obligations, damages, and liabilities arising from the fraud or gross misconduct of the Company Released Parties (the “Employee Released Claims”) . Without limiting the
generality of this release, Employee agrees to waive any and all Employee Released Claims against the Company Released Parties arising from employment with the Company, and covenants not to sue them for any such claims including, but not limited to,
those based on state or federal law regarding age, sex (including sexual harassment), religion, handicap, national origin or other discrimination, the Age Discrimination in Employment Act, the Fair Labor Standards Act

 
(including the Equal Pay Act), the Americans with Disabilities Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, Title VII of the Civil Rights Act of 1964, the
Texas Labor Code, the Texas Administrative Code, any other applicable state or local codes or ordinances, and contract or tort claims, whether such claim be based upon an action filed by Employee or a governmental agency, and any and all claims for
attorneys’ fees and/or costs. The Parties agree that the release set forth in this Paragraph shall be and remain in effect in all respects as a complete and general release as to the matters released. This release does not extend to any
obligations incurred under this Agreement, to any obligations under the Bylaws of the Company to Employee with regard to indemnification and advancement of expenses to or for the benefit of Employee or to any Company obligations for the payment of
any compensation, in any form, to Employee under the Employment Agreement. 
 4. Unknown Claims. Employee expressly
acknowledges that this Agreement resolves and releases all legal claims she may have against Company as of the date of this Agreement arising from her employment with the Company, including claims of which she may not be aware. 

5. Suit by Company. If the Company institutes or is a party to any legal proceeding against Employee subsequent to the date of
this Agreement pursuant to which the Company seeks to recover any damages or other amounts from Employee, then upon the written election of Employee the terms of this Release shall be considered to have no force or effect ab initio.

 6. Non-Admission. The fact and terms of this Agreement are not an admission by the Company of liability or
other wrongdoing under any law. 
 7. Returning Company Property. Employee agrees to deliver to the Company on or before
[date], and not to keep in her possession, recreate, or deliver to anyone else, any and all devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other
documents or property provided to Employee by the Company, developed by Employee pursuant to her employment with the Company, or otherwise belonging to the Company. 
 8. Restrictions. Employee understands that, following the termination of her employment with Company, she must still comply with the terms of the Employment Agreement which includes a
one-year non-solicitation agreement following the termination of her employment, and provisions relating to the Confidential Information of the Company (as such term is defined in the Employment Agreement). 

9. Non-Disparagement. The Parties agree to refrain from any defamation, libel, or slander of the other or any of the Released
Parties or tortious interference with the contracts and relationships of the other Party or any of the Released Parties. The Parties further agree that each will not act in any manner that might damage the business or reputation of the other Party
or any of the Released Parties. The Company agrees to respond to any request for information regarding Employee by providing only neutral information, such as Employee’s dates of employment and position held. 

  
 2 

 10. No Cooperation. Employee agrees that she will not counsel or assist any
attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against the Company and/or any officer, director, employee, agent, representative, stockholder,
or attorney of the Company and/or any other of the Released Parties, unless under a subpoena or other court order to do so. 

11. Attorneys’ Fees. If either Employee or the Company (including any of the Released Parties) brings an action
against the other Party, or otherwise seeks to enforce this Agreement, by reason of the breach of any covenant, warranty, representation, or condition of this Agreement, or otherwise arising out of this Agreement, whether for declaratory or other
relief, the action must be submitted for arbitration to the American Arbitration Association in Houston, Texas. The prevailing party in such arbitration shall be entitled to its costs and attorneys’ fees. 

12. Counterparts. This Agreement may be executed in separate counterparts, each of which shall be deemed an original and shall
bind the signatory, but all of which together shall constitute one and the same instrument. 
 13. Severability.
In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or void, this Agreement shall continue in full force and effect without said provision. 

14. Costs. The Parties shall each bear their own costs, attorneys’ fees, and other fees incurred in connection with this
Agreement. 
 15. Entire Agreement. This Agreement is the entire agreement and understanding between the Parties
on the subject matter covered herein. The Parties further agree that this Agreement may not be altered except in a writing duly executed by all of the Parties. The laws of the State of Texas shall govern this Agreement, excepting its principles of
conflicts of law. 
 16. Effective Date. This Agreement is effective and enforceable immediately following the
Parties’ execution of the Agreement. 
 17. Voluntary Execution of Release Agreement. The Parties enter into this
Agreement voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: 

a. They have read this Agreement; 
 b. They have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice, or have knowingly waived such representation; 

c. They know and understand the terms and consequences of this Agreement and of the releases it contains; and 

d. They are fully aware of the legal and binding effect of this Agreement. 

  
 3 

 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set
forth below. 
  

					
	DATED: [date]	 	By:	 	  

		 		 	[Company rep]
			
	DATED: [date]	 	By:	 	  

		 		 	[Employee]

  
 4

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