Document:

Advisory Agreement

 Exhibit 10.1 

 

 

 January 1, 2011 
 Mr. Harold Montgomery 
 Chief Executive Officer 

CALPIAN, INC. 
 500 North Akard St., Suite
2850 
 Dallas, Texas 75201 
 Dear
Harold, 
 We are pleased that Calpian, Inc. (the “Company”) desires to engage Cagan McAfee Capital Partners,
LLC (“CMCP”) as its nonexclusive management advisor to the Company. We look forward to working with you and your management team, and have set forth below the agreed upon terms of our involvement. 

 

	1.	Scope of Engagement 

We will undertake certain services on behalf of the Company, as mutually agreed upon, including the services of Laird Cagan as a member of
Board of Directors. 
  

	2.	Fees and Expenses.  

For our advisory services beginning January 1, 2011, the Company will pay monthly to CMCP, in arrears, a cash fee of $14,500 per
month and reimbursement of direct out-of-pocket expenses incurred on behalf of the Company and with its prior approval. 
  

	3.	Use of Information; Financing Matters. 

  

	 	(a)	The Company recognizes and confirms that CMCP in acting pursuant to this engagement will be using publicly available information and information in reports and other
materials provided by others, including, without limitation, information provided by or on behalf of the Company, and that CMCP does not assume responsibility for and may rely, without independent verification, on the accuracy and completeness of
any such publicly available information. The Company agrees to furnish or cause to be furnished to CMCP all necessary or appropriate information for use in its engagement and hereby represents and warrants that any information relating to the
Company or transaction that is furnished to CMCP by or on behalf of the Company will be true and correct in all material respects and not misleading. 

  

	 	(b)	CMCP recognizes and confirms that Company, in acting pursuant to this engagement, may be providing material non-public information to CMCP, and that CMCP assumes
responsibility that no such material non-public information shall be communicated or divulged to any other party without the express written consent of Company and that any recipient of such material non-public information shall not trade in the
securities of the Company until such information is either public or rendered moot. 

  
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	4.	Certain Acknowledgements. 

 The Company acknowledges that CMCP has been retained by the Company, and that the Company’s engagement of CMCP is as an independent contractor. Neither this engagement, nor the delivery of any advice
in connection with this engagement, is intended to confer rights upon any persons not a party hereto (including security holders, employees or creditors of the Company) as against CMCP or our affiliates or their respective directors, officers,
agents and employees. The Company acknowledges that CMCP may make investments in or act as advisor to Companies that later become strategic partners or customers of the Company. CMCP shall advise Company of such relationships prior to initiation of
any negotiations. 
  

	5.	Indemnity. 

 CMCP
and the Company have agreed to the indemnification set forth in Exhibit A, providing for the indemnification of CMCP by the Company and of the Company by CMCP in connection with CMCP’s engagement hereunder, the terms of which are incorporated
into this agreement in their entirety. 
  

	6.	Term of Engagement. 

CMCP’s engagement shall commence on the date hereof and shall continue until December 30, 2013, (the “Initial Term”)
and monthly thereafter unless terminated as provided below. Either party may terminate this agreement at any time following the Initial Term, with or without cause by giving not less than 30 days written notice to the other party; provided, however,
that no such termination will affect the matters set out in this section or sections 3, 4, 5, or 7, or in the separate letter agreement relating to indemnification. It is expressly agreed that following the expiration or termination of this
agreement, CMCP shall be entitled to receive any fees as described above that have accrued prior to such expiration or termination but are unpaid, as well as reimbursement for expenses as set forth herein. 

 

	7.	Miscellaneous.  

This agreement is governed by the laws of the State of California, without regard to conflicts of law principles, and will be binding upon
and inure to the benefit of the Company and CMCP and their respective successors and assigns. Neither this agreement nor any duties or obligations under this agreement may be assigned by CMCP without the prior written consent of the Company. The
Company and CMCP agree to waive trial by jury in any action, proceeding or counterclaim brought by or on behalf of either party with respect to any matter whatsoever relating to or arising out of any actual or proposed transaction or the engagement
of or performance by CMCP hereunder. The Company also hereby submits to the jurisdiction of the courts of the State of California in any proceeding arising out of or relating to this agreement, including federal district courts located in such
state, agrees not to commence any suit, action or proceeding relating to thereto except in such courts, and waives, to the fullest extent permitted by law, the right to move to dismiss or transfer any action brought in such court on the basis of any
objection to personal jurisdiction, venue or inconvenient forum. This agreement may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same agreement. 

  
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 We are pleased to accept this engagement and look forward to working with you on this matter. Please confirm
that the foregoing is in accordance with your understanding of our agreement by signing and returning to us a copy of this letter. 
  

			
	Very truly yours,
	
	CAGAN MCAFEE CAPITAL PARTNERS, LLC
		
	By:	 	 /s/ Laird Q. Cagan

		 	Laird Q. Cagan
		 	Managing Director

 Accepted and agreed to as of the
date set forth above: 
  

			
	CALPIAN, INC.
		
	By	 	 /s/ Harold Montgomery

		 	        Harold Montgomery
		 	        Chief Executive Officer

  
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 INDEMNIFICATION AGREEMENT 
 In consideration for the agreement of Cagan McAfee Capital Partners, LLC (“CMCP”) to act on behalf of Calpian, Inc. (the “Company”) pursuant to the attached Engagement Letter dated as
of October 1, 2010, the Company agrees (the “Indemnitor”) to indemnify and hold harmless CMCP, its affiliates, and each of their respective directors, officers, agents, shareholders, consultants, employees and controlling persons
(within the meaning of the Securities Act of 1933) (CMCP and each such other person or entity are hereinafter referred to as an “Indemnified Person”), to the extent lawful, from and against any losses, claims, damages, expenses and
liabilities or actions in respect thereof (collectively, “Losses”), as they may be incurred (including reasonable legal fees and other expenses as incurred in connection with investigating, preparing, defending, paying, settling or
compromising any Losses, whether or not in connection with any pending or threatened litigation in which any Indemnified Person is a named party) to which any of them may become subject (including in any settlement effected with the
Indemnitor’s consent) and which are related to or arise out of any act, omission, disclosure (written or oral), transaction or event arising out of, contemplated by, or related to the Engagement Letter. The Indemnitor will not, however, be
responsible under the foregoing provisions with respect to any Losses to an Indemnified Person to the extent that a court of competent jurisdiction shall have determined by a final judgment that such Losses resulted primarily from actions taken or
omitted to be taken by such Indemnified Person due to his gross negligence, bad faith or willful misconduct. If multiple claims are brought against CMCP in an arbitration, with respect to at least one of which indemnification is permitted under
applicable law and provided for under this agreement, any arbitration award shall be conclusively deemed to be based on claims as to which indemnification is permitted and provided for, except to the extent the arbitration award expressly states
that the award, or any portion thereof, is based solely on a claim as to which indemnification is not available. No indemnified Party shall settle, compromise or otherwise dispose of any action for which indemnification is claimed hereunder without
the written consent of the Indemnitor. No expenses shall be forwarded to any Indemnified Party unless such party agrees in writing to reimburse the Indemnitor for such forwarded expenses in the event it is determined that such Indemnified Party was
not entitled to indemnification hereunder. 
 If the indemnity referred to in this agreement should be, for any reason whatsoever,
unenforceable, unavailable or otherwise insufficient to hold each Indemnified Person harmless, the Indemnitor shall pay to or on behalf of each Indemnified Person contributions for Losses so that each Indemnified Person ultimately bears only a
portion of such Losses as is appropriate to reflect the relative benefits received by and the relative fault of each such Indemnified Person, respectively, on the one hand and the Indemnitor on the other hand in connection with the transaction;
provided, however, that in no event shall the aggregate contribution of all Indemnified Persons to all Losses in connection with any transaction exceed the amount of any fees actually received by CMCP pursuant to the Engagement Letter. The relative
fault of each Indemnified Person and the Indemnitor shall be determined by reference to, among other things, whether the actions or omissions to act were by such Indemnified Person or the Indemnitor and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such action to omission to act. 
 The Indemnitor also agrees that no Indemnified
Person shall have any liability to the Indemnitor or its affiliates, directors, officers, employees, agents or shareholders, directly or indirectly, related to or arising out of the Engagement Letter, except Losses incurred by the Indemnitor which a
court of competent jurisdiction shall have determined by a final judgment to have resulted primarily from actions taken or omitted to be taken by such Indemnified Person due to its gross negligence, bad faith or willful misconduct. In no event,
regardless of the legal theory advanced, shall Company or Indemnified Person be liable for any consequential, indirect, incidental or special damages of any nature. The Indemnitor agrees that without CMCP’s prior written consent (which consent
shall not be unreasonably withheld) it shall not settle, compromise or consent to the entry of any judgment in any pending or threatened claim, action, suit or proceeding related to the Engagement Letter unless the settlement, compromise or consent
also includes an express unconditional release of all Indemnified Persons from all liability and obligations arising therefrom. 

  
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 The obligations of the Indemnitor referred to above shall be in addition to any rights that any Indemnified
Person may otherwise have and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of any Indemnified Person and the Indemnitor. It is understood that these obligations of the Indemnitor will
remain operative regardless of any termination or completion of CMCP’s services. 

  
 5Form of $3MM Offering Note and Warrant Subscription Agreement

 Exhibit 10.2 
 CALPIAN, INC. 
 NOTE AND WARRANT SUBSCRIPTION AGREEMENT

 This NOTE AND WARRANT PURCHASE AGREEMENT (“Agreement”) made as of the 31st day of December, 2010 by and between the undersigned subscriber (the
“Subscriber”) and CALPIAN, INC., a Texas corporation (the “Corporation”), having its principal office at 500 N. Akard Street, Suite 2850, Dallas, Texas 75201. 

WHEREAS, the Corporation is offering up to $3,000,000 of its Secured Subordinated Promissory Notes (the “Notes”)
under an interim financing (the “Notes Offering”) pursuant to the terms of the form of Note attached hereto as Exhibit A (the “Note Agreement”) and this Agreement; 

WHEREAS, as an additional inducement to enter into this Agreement, the Corporation is offering the Subscriber a warrant
(“Warrant”) from the Corporation to purchase One (1) share of the Corporation’s Common Stock for every Two Dollars ($2.00) of the principal amount invested by the Subscriber under the Note Agreement, exercisable at a price
of One Dollar ($1.00) per share, pursuant to the terms and conditions of the Warrant Agreement attached hereto as Exhibit B (the “Warrant Agreement”); 

WHEREAS, the Subscriber is familiar with the Corporation and its operations and desires to purchase Notes in the Notes Offering;

 NOW, THEREFORE, for and in consideration of the premises and covenants herein contained, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Purchase and Sale. 

(a) Purchase and Sale of Notes. Subject to the terms and conditions of this Agreement, the Subscriber hereby subscribes for the
dollar amount of Notes set forth on the Subscriber Signature Page to this Agreement at the face amount of the Notes purchased. 

(b) Acceptance. By signing this Agreement and delivering a copy of this Agreement to the Subscriber, the Corporation hereby
accepts the subscription of the Subscriber. 
 (c) Subscription Irrevocable. The subscription of the Subscriber is
irrevocable. 
 (d) Closing and Delivery. The closing of the transactions covered by this Agreement (the
“Closing”) shall take place at the offices of the Corporation located at 500 N. Akard Street, Suite 2850, Dallas, Texas 75201, within ten (10) days of Subscriber’s execution hereof, or at such other date as shall be
mutually agreed upon in writing by the parties, or this Agreement shall be null and void and all funds shall be returned. 

  
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 (1) At the Closing, the Subscriber will deliver to the Corporation by wire transfer or
check payable in U.S. funds to the Corporation in an amount equal to the face amount of the Notes subscribed for; 
 (2) At the
Closing, the Corporation will deliver to the Subscriber one or more fully executed Notes, in the form attached hereto as Exhibit A, in the aggregate face amount subscribed for by the Subscriber; and 

(3) At the Closing, the parties will exchange completed and fully executed copies of a Warrant, in the form attached hereto as
Exhibit B, and the Note Agreement, attached hereto as Exhibit A, subject to the terms provided in this Agreement. 
 2. Representations and Warranties of the Corporation. The Corporation hereby represents and warrants to the Subscriber that: 

(a) Incorporation. The Corporation is a corporation duly organized and validly existing and in good standing under the laws of the
Texas. 
 (b) Authorization. All corporate action on the part of the Corporation, its officers and directors necessary
for the authorization, execution, delivery and performance of all obligations of the Corporation under this Agreement and for the authorization, issuance and delivery of the Notes and Warrant being sold hereunder has been or will be taken prior to
acceptance of this Agreement, and this Agreement, when executed and delivered to the Subscriber shall constitute a binding and enforceable obligation of the Corporation. 
 (c) Validity of Securities. The Notes and Warrant to be purchased and sold under to this Agreement, when issued, sold and delivered in accordance with the terms of this Agreement for the
consideration expressed herein, will be duly and validly issued. 
 3. Representations and Warranties by the
Subscriber. The Subscriber represents and warrants, to the Corporation as follows: 
 (a) The Subscriber is acquiring
the Notes and Warrant for the Subscriber’s own account as principal, for investment and not with a view to resale or distribution of all or any part of the Notes or Warrant except in accordance with and as provided for in this Agreement.

 (b) Immediately prior to the purchase: 
 (i) the Subscriber has such knowledge and experience in financial and business matters that the Subscriber is capable of evaluating the risks and merits of investment in the Notes; and 

  
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 (ii) the Subscriber is able to bear the economic risk of the investment (i.e., at the time
of investment the Subscriber could afford a complete loss without hardship). 
 (c) The Subscriber has been informed as to, and
is familiar with, the business activities of the Corporation. The Subscriber acknowledges that he or she or it has made the decision to invest in the Note and Warrants solely on the basis of publicly available information about the Corporation in
the Corporation’s filings with the Securities and Exchange Commission (“SEC”), copies of which may be accessed on the website of the SEC at www.SEC.gov (the “Public Information”). The Subscriber acknowledges
that and that no officer, director, broker-dealer, placement agent, finder or other person affiliated with the Corporation has given Subscriber any information or made any representations, oral or written, other than as provided in the Public
Information, on which Subscriber has relied upon in deciding to invest in the Note and Warrant, including without limitation, any information with respect to future operations of the Corporation or the economic returns which may accrue as a result
of the purchase of the Note and Warrant. The Subscriber acknowledges having been given the opportunity to review all documents material to an investment in the Notes and Warrant that the Corporation can provide without unreasonable effort or
expense. 
 (d) The Subscriber has had an opportunity to ask questions of, and receive answers from, appropriate representatives
of the Corporation, including its officers, concerning the Corporation and its business, and the terms and conditions of the Offering, and to obtain such additional information as the Subscriber deems necessary to verify the accuracy and adequacy of
the information the Subscriber has obtained. The Subscriber fully understands that this Offering has not been registered under the Securities Act of 1933, as amended (the “Securities Act”) in reliance upon exemptions therefrom, and,
accordingly, to the extent that the Subscriber is not supplied with information which would have been contained in a registration statement filed under the Securities Act the Subscriber must rely on the Subscriber’s own access to such
information. 
 (e) The Subscriber affirms that the Subscriber is an “accredited investor” as that term is defined and
construed pursuant to Rule 501 under the Securities Act because the Subscriber is one or more of the following (check all that apply): 
  

			
	            	 	A natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of this purchase exceeds $1,000,000 (excluding the value of the
Subscriber’s principal residence);
		
	            	 	A natural person who had an individual income in excess of $200,000 in each of the two most recent years (or a joint income with spouse in excess of $300,000 in each of those years)
and who reasonably expects to reach the same income level in the current year;
		
	            	 	A trust with total assets in excess of $5,000,000, not formed for the specific purpose of purchasing the Notes, and whose purchase is directed by a sophisticated person (as
described in applicable regulations promulgated under the Act);

  
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	            	 	A bank or savings and loan association;
		
	            	 	A broker or dealer registered under Section 15 of the Securities Exchange Act of 1934, as amended;
		
	            	 	An insurance company;
		
	            	 	An investment company registered under the Investment Company Act of 1940 or a business development company (as defined by said Act), or Small Business Investment Company licensed
by the Small Business Administration;
		
	            	 	An employee benefit plan within the meaning of Title I of ERISA and (A) the investment decision has been made by a plan fiduciary which is either a bank, savings and loan
association, insurance company or registered investment advisor, or (B) the plan has total assets in excess of $5,000,000, or (C) the Plan is a self directed plan and its investment decisions are made solely by persons who are accredited
investors;
		
	            	 	A corporation, Massachusetts or similar business trust, partnership, or organization described in 501(c)(3) of the Internal Revenue Code of 1986, as amended, and not formed for the
specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000;
		
	            	 	A director or executive officer of the Corporation;
		
	            	 	An entity all of the investors in which are “accredited investors.”

 (f) The Subscriber affirms that all information that the Subscriber has provided to the Corporation either directly or indirectly, concerning the Subscriber, the Subscriber’s financial position and
the Subscriber’s knowledge of financial and business matters is accurate and complete as of the date of this Agreement. 

(g) The Subscriber fully understands and agrees that the Subscriber must bear the economic risk of the Subscriber’s investment in
the Notes and Warrant for an indefinite period of time because, among other reasons, the Notes and Warrant have not been registered under the Securities Act, and, therefore, they cannot be sold, pledged, assigned or otherwise disposed of unless they
are subsequently registered under the Securities Act or, in the opinion of counsel acceptable to the Corporation, an exemption from such registration is available. 
 (h) The Subscriber understands that no federal or state agency has passed upon the offering of the Notes or made any finding or determination as to the fairness of the offering the Notes. 

  
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 (i) The Subscriber recognizes that this investment involves a high degree of risk, and the
Subscriber has carefully considered whether an investment in the Notes and Warrant is appropriate for the Subscriber. The Subscriber understands that the Notes are Warrant are a suitable investment only for persons who have substantial financial
resources and will have no need for liquidity in their investment. 
 (j) If the subscription is being made by a person acting
in a representative or fiduciary capacity, such person has full power and authority to execute and deliver this Agreement in such capacity and on behalf of the subscribing individual, ward, partnership, trust, estate, corporation, or other entity,
has full right and power to perform pursuant to this Agreement. The undersigned, will, upon request of the Corporation, furnish the Corporation a true and correct copy of (1) if the Subscriber is a trust, the trust agreement under which it is
organized, (2) if the Subscriber is a Partnership, the partnership agreement under which it is organized, and (3) if the Subscriber is a corporation, the Articles of Incorporation and By-laws and a copy (certified by the secretary or other
authorized officer) of appropriate corporate resolutions authorizing the specific investment. If the subscription is being made by a person acting in a representative capacity, the representations and warranties contained in this Agreement,
including specifically and without limitation those provided for in paragraph 3(e), shall be deemed to have been made on behalf of the person or persons for whom the undersigned is so purchasing. 

(k) The Corporation has not provided to the Subscriber any projections of operating results, revenues, or profits for use in connection
with or reliance upon this Notes Offering. If the Subscriber has seen any such projections, the Subscriber understands and agrees that the Subscriber will not rely upon them for purposes of investing in the Notes and Warrant because, among other
reasons, the timing, sources and amount of funding to be received by the Corporation is currently uncertain and so that any projections based upon the receipt of such funding will be inherently unreliable. 

(l) Subscriber will keep confidential and not disclose any non-public information received in connection with the Note and Warrant from
the Corporation or any of its affiliates or principals, except that Subscriber may disclose such information (i) with the written consent of Corporation, (ii) to Subscriber’s affiliates and legal counsel for Subscriber and its
affiliates, (iii) to auditors, accounting firms or accountants of Subscriber and its affiliates as may be required in connection with any audit or other review of the books and records of any such entity, and (iv) to any parties as may be
required by law, government regulation or order (including without limitation, any regulation or order of an insurance regulatory agency or body), by subpoena or by any other legal, administrative or legislative process. Subscriber also acknowledges
and agrees that Subscriber is prohibited from any buying or selling of the Corporation’s securities on the basis of this material non-public information until after the information either becomes publicly available by the Corporation (such as
in a Current Report on Form 8-K or in the Corporation’s 10-Q) or ceases to be material, and in no event for at least thirty (30) days from the date hereof. 

  
 5 

 (m) All representations and warranties set forth above or in any other written statement or
document delivered by the Subscriber in connection with the subscription shall be true and correct in all respects on and as of the date of this Agreement and as of the date of acceptance, and they shall survive acceptance and the closing and
delivery of the Notes. 
 4. Indemnification. 

(a) Indemnification by Subscriber for misrepresentations. The Subscriber hereby agrees to indemnify and hold harmless the
Corporation and the directors, officers and professional advisors of the Corporation, from and against any and all loss, damage, cost, liability or expense, including reasonable attorney’s fees, due to or arising out of any misrepresentation or
breach of any representation, warranty or covenant of the Subscriber at the time of this Agreement, and from any representation or warranty of the Subscriber becoming false or misleading prior to acceptance of the subscription by the Corporation
unless the Subscriber shall have given written notice to the Corporation of such change prior to acceptance. 
 (b)
Indemnification by Subscriber for meritless claims. The Subscriber hereby agrees to indemnify and hold harmless the Corporation and its directors, officers and professional advisors from and against any and all loss, damage, liability, cost
and expense, including reasonable attorney’s fees, incurred in connection with defending any claim brought for or on behalf of the Subscriber with respect to investment in the Notes if judgment is rendered by a court of competent jurisdiction
in favor of such indemnified party against the Subscriber with respect to the matters referred to above. 
 (c) The foregoing
indemnifications shall survive any sale or transfer, or attempted sale or transfer, of the Subscriber’s Notes. Notwithstanding the foregoing indemnifications, the Subscriber does not thereby or in any other manner waive any rights granted to
the Subscriber under federal, state, or provincial securities laws and regulations. 
 5. Broker Fees and Legal Fees.
The Corporation and the Subscriber represent and agree that the transactions contemplated by this Agreement have been carried on by the parties directly and without the intervention of any other person in such manner as to give rise to any valid
claim against either party for a finder’s fee, brokerage commission or other similar payment. The Corporation has agreed to reimburse the lead Subscriber participating in the Notes Offering for its reasonable legal costs in preparing and
negotiating this Agreement, the Warrant Agreement, and the Note Agreement. 
 6. Notes and Warrant to be Legended.
A restrictive legend in substantially the following form will be imprinted on the Notes and Warrant and stop transfer orders or other appropriate instructions to such effect will be maintained against the transfer of the Notes or Warrant on the
transfer records of the Corporation or its transfer agent: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES OR “BLUE SKY” LAWS, AND MAY NOT BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, OR OTHERWISE DISPOSED OF UNLESS REGISTERED PURSUANT TO THE PROVISIONS OF SUCH ACT AND BLUE
SKY LAWS OR AN EXEMPTION THEREFROM IS AVAILABLE AS ESTABLISHED BY A WRITTEN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY. 

  
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 The transfer the Notes and Warrant will only be effected in accordance with the foregoing legend.

 7. Miscellaneous. 
 (a) Applicable Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Texas. 
 (b) State in which Offered. The Notes are offered to and will be purchased by the Subscriber in the State of Texas. 
 (c) Binding Effect. Except as otherwise provided herein, this Agreement shall be binding upon and inure to the benefit of the parties and their successors, legal representatives and assigns.

 (d) No Assignments. The Subscriber agrees that except as provided herein neither the Subscriber nor the
Subscriber’s legal representatives will sell, assign, encumber or transfer, in any manner whatsoever, this Agreement or its rights under this Agreement. 
 (e) Entire Agreement. This Agreement constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes any prior understandings, oral or written.

 (f) Modification. Any terms of this Agreement may be waived or modified only in writing, signed by the Corporation and
holders of a majority in principal amount of all Notes issued by the Corporation in the Notes Offering, which waivers or modifications shall equally modify all Note and Warrant Purchase Agreements entered into in connection with the Notes Offering.

 (g) Notices. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively
given upon personal delivery or three (3) days after deposit in the United States Post Office, by registered or certified mail, addressed to a party at its address hereinafter shown below or at such other address as such party may designate by
ten (10) days advance written notice to the other party. 
 (h) Counterparts. This Agreement may be executed in one
or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one counterpart has been signed by each party and delivered to the other party, it being understood that each of the parties need not
sign the same counterpart. 

  
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 IN WITNESS WHEREOF, the Corporation has executed this Note and Warrant Subscription
Agreement as of the day and year first above written. 
  

			
	CALPIAN, INC.
		
	By:	 	  

IN WITNESS WHEREOF, the undersigned has executed this Note and Warrant Purchase Agreement for
$             of Notes of the Corporation on the          day of
                    , 2010. 
  

									
		  		 	   Subscriber’s (and Joint Subscriber’s) Name(s) and

  Residence Address (Please Print or Type)

			
	  
	  		 	  

	  Signature of Subscriber	  		 	  

		  		 	  

		  		 	  

		  		 	  Telephone:
                                         
                   
	  
	  		 	
	  Taxpayer ID/Social Security No. of Subscriber	  		 	   Mailing address
     (if Different From Residence)

	  
	  		 	  

	  Signature of Joint Subscriber (if any)	  		 	  

		  		 	  

			
		  		 	  Telephone:
                                         
                   
			
	  
	  		 	   Purchaser Representative (if any)

	  Taxpayer ID/Social Security No. of Joint Subscriber	  		 	
				
		  		  		 	  

	
	  Please indicate manner in which Notes are to be held:
					
	                    	  	Community Property*	  		 	                    	  	Subchapter S Corporation**
	                    	  	Joint Tenancy*	  		 	                    	  	Partnership**
	                    	  	Tenancy in Common*	  		 	                    	  	Trust
	                    	  	Separate Property	  		 	                    	  	Corporation**
	                    	  	Individual Ownership	  		 	                    	  	Other (Please Indicate)         

  

	**	If other than calendar year, please state fiscal year end:
                                        

  
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