Document:

EX-10.6

 Exhibit 10.6 

Execution Version 

AMENDED AND RESTATED LICENSE AND SUPPORT AGREEMENT 

This AMENDED AND RESTATED LICENSE AND SUPPORT AGREEMENT (this “Agreement”), effective as of July 1, 2015 (“Effective Date”),
by and between Republic Bank & Trust Company, a Kentucky banking corporation (“Licensee”) and Elevate Decision Sciences, LLC, a Delaware limited liability company (“Licensor”). Licensor and Licensee are
individually referred to as a “Party” and, collectively, the “Parties.” 
 Recitals 

WHEREAS, Licensee and Licensor entered into the original License and Support Agreement, dated as of December 19, 2013. 

WHEREAS, Licensee and Licensor amended the original License and Support Agreement on October 30, 2014. 

WHEREAS, Licensee and Licensor wish to amend and restate the License and Support Agreement as set forth in this Agreement. 

In consideration of the mutual promises and upon the terms and conditions set forth below, the Parties agree as follows: 

 

	1.	Certain Definitions. 

  

	 	1.1	“Account” means an unsecured, open-ended line of credit originated by Licensee in connection with the license granted by Licensor to Licensee hereunder. 

 

	 	1.2	“Affiliate” with respect to either Party means any entity including, without limitation, any corporation, partnership or limited liability company, that directly, or indirectly through one or more
intermediaries, wholly-owns or is wholly-owned by such Party. 

  

	 	1.3	“Application” means an application submitted by a Borrower in connection with the establishment of an Account. 

  

	 	1.4	“Borrower” means any of Licensee’s customers who are using the Software for the purposes of applying for, obtaining and/or maintaining an Account or other such credit product as may be available by
the use of the Software from Licensee. 

  

	 	1.5	“Confidential Information” of Licensor means all Software, Documentation, Tools, information, data, drawings, tests (including tests performed by Licensee), specifications, trade secrets, algorithms,
data models, object code and machine-readable copies of the Software, source code of the Software, Tools, screen layouts, forms, reports, and any other proprietary information supplied to Licensee including all items defined as “confidential
information” in any other agreement between Licensee and Licensor whether or not executed prior to this Agreement. 

  
 [****] = CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT
TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	 	1.6	“Confidential Information” of Licensee means any and all proprietary information supplied to Licensor or any of its affiliates in connection with this Agreement and any other agreement between Licensee
and Licensor or its affiliates. 

  

	 	1.7	“Documentation” means any instructions manuals or other materials, and on-line help files, regarding the Use of the Software. Documentation shall also include the algorithms and Tools provided by
Licensor to Licensee. 

  

	 	1.8	“Licensee Personal Data” means Personal Data provided to Licensee by or on behalf of a natural person including, but not limited to, any Borrower 

 

	 	1.10	“Maintenance and Support” means the services described in Exhibit B. 

  

	 	1.11	“Personal Data” means any information relating to an identified or identifiable natural person including, but not limited to, Borrowers’ names, social security numbers, dates of birth, addresses,
number of months at address, phone numbers, financial information as to loans or accounts with Licensee or other loans or accounts, bankruptcy, employer names and phone numbers, number of months on job and whether a Borrower owns a home.

  

	 	1.12	“Process” or “Processing” of Licensee Personal Data means and includes any operation or set of operations which is performed upon Personal Data, whether or not by automatic means, such
as collection, recording, organization, storage, adaptation or alteration, retrieval, accessing, consultation, use, disclosure by transmission, dissemination or otherwise making available. 

 

	 	1.13	“Program Guidelines” shall mean those guidelines established by Licensee for the administration of the Accounts, including, but not limited to, underwriting standards for the Accounts (which shall
include, without limitation, specific criteria for evaluating an Applicant’s ability to repay the Account, including the initial advance and all future advances thereunder), the credit, charge-off and collection policies for the Accounts, and
all other operating procedures for the Accounts, as such guidelines may be amended, modified or supplemented from time to time by Licensee in accordance with the terms of this Agreement. 

 

	 	1.14	“Software” means the computer software application specified in Exhibit A and any Update provided by Licensor to Licensee. 

 

	 	1.15	“Tools” means the scoring, underwriting and verification tools provided by Licensor to Licensee as well as any interface and specifications thereof used to interconnect the Software with payroll
software systems. 

  

	 	1.16	“Third Party Servicer Provider” shall mean any third party providing services that Licensee or Licensor (as the context may require) is required to provide under this Agreement. 

  
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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
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PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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	 	1.17	“Update” means a release or version of the Software containing functional enhancements, extensions, error corrections or fixes that is generally made available to Licensor’s customers who have
contracted for Maintenance and Support. 

  

	 	1.18	“Use” of Software means executing, accessing or displaying the Software solely for purposes of obtaining and/or maintaining an Account or other such credit product offered by Licensee in accordance with
the Documentation and in compliance with applicable law. 

  

	 	1.19	“User” means Borrowers and Licensee’s employees, officers, and directors as well as contractors directly managed and controlled by Licensee. Users specifically exclude all third parties except to
the extent expressly included in the foregoing sentence. 

  

	2.	Grant of License. 

 2.1 Grant. Subject to the terms and conditions of this
Agreement, Licensor hereby grants to Licensee a limited, personal, revocable, non-sublicenseable and nontransferable license to Use and permit Users to Use the (a) Software, (b) Documentation solely in connection with Licensee’s Use
of the Software, and (c) Tools solely in connection with Licensee’s Use of the Software. 
 2.2 Delivery. If requested by
Licensee, Licensor shall arrange for any Software to be installed and configured on Licensee’s servers or other servers specified by Licensee. Licensor shall make the Documentation and updates thereto available to Licensee. Licensee
acknowledges that no source code will be provided to Licensee. 
  

	3.	Ownership. Licensor retains all right, title and interest in and to the Software, Documentation, Tools and any enhancements and modifications thereto including, without limitation, all proprietary and
intellectual property rights to the Software, Documentation, and Tools. 

  

	4.	Restrictions. Licensee shall not itself, or through any parent, subsidiary, Affiliate or any other third party: (a) modify, decode, decompile, disassemble, reverse engineer or otherwise translate the
Software, Documentation or Tools, in whole or in part; (b) write or develop any derivative software or any other software program based upon the Software or any Confidential Information of Licensor; (c) use the Software, Documentation or
Tools to provide processing services to third parties or otherwise use the Software, Documentation or Tools on a service bureau or time-sharing basis; (d) sublicense the Software, Documentation or Tools; (e) provide, disclose, divulge or
make available to, or permit use of the Software, Documentation or Tools by any third party, other than Users and Borrowers; (f) disable or modify any licensing control features of the Software or Tools; or (g) directly or indirectly
attempt to do any of the foregoing. 

  
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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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	5.	License Fee. 

 5.1 Fees. In consideration of the license granted pursuant
to Section 2.1 and the other obligations of Licensee hereunder, Licensee shall pay Licensor the license fees specified in Exhibit A. 

5.2 Payments. Licensee shall pay the full amount of the license fees according to the payment terms specified in Exhibit A. 

5.3 Taxes. Licensee shall pay or reimburse Licensor for all federal, state, provincial or other local sales, use, personal property,
excise or other taxes, fees, or duties arising out of this Agreement or the transactions contemplated hereby (other than taxes on the net income of Licensor). Licensee shall hold Licensor harmless from all claims and liabilities arising from
Licensee’s failure to report or pay any such taxes. 
  

	6.	Maintenance and Support; Modifications. 

 6.1 Maintenance and Support.
Maintenance and Support of the Software shall be provided in accordance with the terms of Exhibit B. Licensor shall not have any obligation to provide any custom programming or provide additional features or functionality. 

6.2 Modifications. Licensor shall not implement any material modifications to the Software, Tools or Documentation unless Licensee shall
have reviewed, tested and validated such modifications. Licensee shall have a period of ten (10) business days from the date of submission by Licensor (“Qualification Period”) to review, test and validate any such
modifications. If any modification does not pass Licensee’s review, testing and validation process within such Qualification Period, then Licensee shall provide written notice thereof to Licensor, which notice shall include a reasonably
detailed explanation of why the modification did not pass. If Licensee does not review, test and validate the modification or provide Licensor with written notice that the modification did not pass Licensee’s review, testing and validation
process prior to the end of the Qualification Period, then such modification shall be deemed to be acceptable to Licensee and Licensor may implement such modification. 
  

	7.	Servicing. The obligations of Licensee and Licensor with respect to the servicing of the Accounts are set forth in Exhibit D. 

 

	8.	Warranties and Limitation of Liability. 

  

	 	8.1	Warranties and Disclaimer. 

  

	 	(a)	 Software and Services. Licensor represents and warrants that the Software furnished hereunder shall operate in material conformance with
the Documentation; that, in general, the services provided hereunder shall be 

  
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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
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PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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performed in a timely and professional manner by qualified professional personnel; and that the services provided hereunder and the Software shall conform to the standards generally observed in
the industry for similar services and Software. Licensee agrees that Licensor’s sole obligation, and Licensee’s sole remedy, for any breach of this Section 8.1(a) shall be for Licensor to modify the Software in accordance with
Exhibit B and/or re-perform the non-confirming services. 

  

	 	(b)	Compliance with Applicable Laws. Licensor warrants that the performance by Licensor of the services hereunder shall be in compliance with all applicable laws, rules and regulations. 

 

	 	8.2	EXCEPT AS SPECIFICALLY PROVIDED FOR HEREIN, LICENSOR MAKES NO WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY REGARDING OR RELATING TO THE SOFTWARE, DOCUMENTATION, TOOLS AND ANY OTHER MATERIALS OR SERVICES FURNISHED
OR PROVIDED UNDER THIS AGREEMENT. LICENSOR SPECIFICALLY DISCLAIMS ALL IMPLIED WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, CONTINUOUS OPERATION, QUALITY, AND ACCURACY. 

8.3 Limitation of Liability. IN NO EVENT WILL EITHER PARTY BE LIABLE FOR ANY EXEMPLARY, INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR
CONSEQUENTIAL DAMAGES IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR THE FURNISHING, PERFORMANCE OR USE OF THE SOFTWARE, TOOLS, DOCUMENTATION OR ANY SERVICES PERFORMED HEREUNDER, WHETHER ALLEGED AS A BREACH OF CONTRACT OR TORTIOUS CONDUCT,
INCLUDING NEGLIGENCE, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. LICENSOR’S LIABILITY TO LICENSEE UNDER THIS AGREEMENT WILL NOT, IN ANY EVENT, EXCEED [****]. THE EXCLUSIONS AND LIMITATIONS SET FORTH IN THIS SECTION
8.3 SHALL NOT APPLY TO ANY BREACH OF SECTION 4 OR SECTION 10 BY EITHER PARTY, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF EITHER PARTY, OR EITHER PARTY’S INDEMNIFICATION OBLIGATIONS. THE PROVISIONS OF THIS SECTION 8 ALLOCATE RISKS UNDER THIS
AGREEMENT BETWEEN LICENSEE AND LICENSOR. LICENSOR’S PRICING REFLECTS THIS ALLOCATION OF RISKS AND LIMITATION OF LIABILITY. THE FOREGOING LIMITATIONS WILL APPLY NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY REMEDY. 

8.4 Third Party Software. To the extent any third-party software is incorporated in or required by the Software, Licensor shall be
responsible for obtaining licenses for such software for Licensee’s benefit and use. 

  
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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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	9.	Indemnification. 

 9.1 Indemnification. Each Party (the “Indemnifying
Party”) shall indemnify, hold harmless and defend the other Party, its officers, agents, and employees, from any claims, demands, losses, liabilities, costs and expenses, including reasonable attorneys’ fees, made by any third party due to
or arising out of the Indemnifying Party’s breach of this Agreement which is not cured as provided for herein. 
 9.2 Intellectual
Property. 
  

	 	(a)	Subject to Section 9.2(b), Licensor shall, at its expense, defend all claims and actions made against Licensee by any third party alleging that Use of the Software in accordance with the Documentation infringes or
misappropriates any United States patent, copyright or trade secret of such third party and pay all damages finally awarded on account of such claims and actions or the amounts of settlements thereof and all expenses relating thereto. Upon the
occurrence of any such claim or action, Licensor may terminate this License upon thirty (30) calendar days’ notice to Licensee. Licensee expressly agrees that this Section 9.2(a) states Licensor’s entire liability, and
Licensee’s exclusive remedy, for all infringement and any other intellectual property-related claims and actions. 

  

	 	(b)	Licensor shall not have any obligation pursuant to Section 9.2(a) to the extent the alleged infringement or misappropriation arises from (i) the combination of the Software with other products, equipment,
software or data not supplied or authorized by Licensor, provided that no infringement would have occurred absent such combination, (ii) modification of the Software made by any person other than Licensor or its authorized agents or
contractors, provided that no infringement would have occurred absent such modification or (iii) any Use of the Software not in accordance with the Documentation, provided that no infringement would have occurred absent such Use. Further,
Licensor’s obligations set forth in Section 9.2(a) are expressly conditioned on Licensee providing Licensor with prompt written notice of any third party claim or action, tendering the same to Licensor, granting Licensor exclusive control
over the defense and settlement thereof, and cooperating fully with Licensor (at Licensor’s expense) in the defense of any such claim or action. 

  

	10.	Confidential Information; Injunctive Relief. 

 10.1 Non-Use and
Non-Disclosure. The Parties acknowledge that the Confidential Information constitutes valuable trade secrets of the other Party and that each Party shall use and protect Confidential Information solely in accordance with the provisions of this
Agreement. Neither Party will make any use of the Confidential Information for any other purpose nor will either Party disclose, or permit to be disclosed, the same, directly or indirectly, to any third party without the other Party’s prior
written consent. The Parties shall exercise due care in protecting all Confidential Information of the other 

  
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BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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Party from unauthorized use or disclosure. However, neither Party bears responsibility for safeguarding information that is publicly available, already in its possession and not subject to a
confidentiality obligation, obtained by the other Party from third parties without restrictions on disclosure, independently developed by a Party without reference to Confidential Information, or required to be disclosed by order of a court or other
governmental entity provided that, unless prevented from doing so, each Party provides written notice and cooperation to the other Party such that the other Party will have an opportunity to seek a protective order. 

10.2 Remedy. In the event of actual or threatened breach of the provisions of Sections 4 or 10.1, there will be no adequate remedy at
law and the Party claiming the breach will be entitled to immediate and injunctive and other equitable relief, without the requirement of posting a bond or any other security and without the necessity of showing actual money damages. Exercise of the
right to obtain injunctive and other equitable relief will not limit any rights to seek additional remedies. 
 10.3 Privacy and
Security. Each Party shall comply with its respective obligations under the data privacy and security requirements set forth in Exhibit C. 
  

	11.	Term and Termination. 

 11.1 Term. Unless terminated earlier in accordance
with this Agreement, the term of this Agreement shall commence as of the Effective Date and shall continue for a period of three (3) years (the “Initial Term”). If not earlier terminated, this Agreement will automatically renew
for subsequent one (1) year periods (each a “Renewal Term”) unless either Party provides written notice of termination at least ninety (90) calendar days prior to the expiration of the Initial Term or any Renewal Term.

 11.2 Termination. This Agreement may be terminated upon the occurrence of one or more of the following events, within the time
periods set forth below: 
  

	 	(a)	If either Party breaches this Agreement including, without limitation, any breach of any representation, warranty or covenant contained herein, the non-breaching Party may immediately terminate this Agreement by
providing written notice thereof to the breaching Party if such breaching Party does not cure such breach within sixty (60) calendar days after receipt of the written notice of the breach, provided, however, that no cure period shall be
applicable to any breach of Sections 4 or 9 that is intentional or the result of a Party’s gross negligence. 

  

	 	(b)	Upon the occurrence of an Insolvency Event (as defined below) by either Party, this Agreement shall automatically and immediately terminate. It shall constitute an insolvency event (“Insolvency Event”)
by a Party hereunder if such Party shall file for protection under any chapter of the federal Bankruptcy Code, an involuntary petition is filed against such Party under any such chapter and is not dismissed within sixty (60) calendar days of
such filing, or a receiver or any regulatory authority takes control of such Party. 

  
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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
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PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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	 	(c)	In the event of an act of God or other natural disaster which makes the carrying out of this Agreement impossible, or if a Party’s performance hereunder is rendered illegal or if Licensee’s ability to make use
of the Software is materially adversely affected by reason of changes in any laws or regulations applicable to the Accounts originated under this Agreement, or if Licensee is advised by any judicial, administrative or regulatory authority having or
asserting jurisdiction over Licensee or the Accounts that the performance of its obligations under this Agreement is or may be unlawful, then the Party unable to perform, or whose performance has been rendered illegal or who has been so advised by
such authority, may terminate this Agreement by giving written notice at least sixty (60) calendar days in advance of termination to the other Party, unless such changes in applicable law or communication from such authority require earlier
termination, in which case termination shall be effective upon such earlier required date. 

  

	 	(d)	At Licensee’s option, upon written direction by Licensee’s regulating state or federal agency to limit or cease the performance by Licensee of its obligations under this Agreement. 

 

	 	(e)	Either Party may terminate this Agreement upon the termination of either the Participation Agreement by and between RB and Elastic SPV, Ltd., or the Joint Marketing Agreement by and between RB and Elevate@Work, LLC,
each dated on or around the Effective Date, by sending written notice to the other. 

 11.3 Effect of Termination. If
any termination event as described in Section 11.1 or 11.2 occurs, termination will become effective immediately or on the date set forth in the written notice of termination, as applicable. Licensee shall have thirty (30) calendar days to
phase out use of the Software and shall remain in compliance with this Agreement during such time. Effective upon thirty (30) calendar days from any termination of this Agreement, (i) Licensee shall immediately discontinue all use of all
Software, Tools and all Documentation; and (ii) Licensor shall return to Licensee any copies and reproductions of Licensee Personal Data (as defined in Exhibit C). Within thirty (30) calendar days after the date of termination of
this Agreement for any reason whatsoever, Licensee shall return the Software, the Tools and any copies, in whole or in part, all Documentation, and any other Confidential Information of Licensor in its possession that is in tangible form. Upon the
written request of Licensor, Licensee shall furnish Licensor with a certificate signed by an executive officer of Licensee verifying that the same has been done. 

11.4 Survival. The following provisions shall survive termination of this Agreement: Sections 1, 3, 4, 5, 8, 9, 10, 11.3, 11.4, and 12.

  
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	12.	Miscellaneous. 

 12.1 Assignment. Neither Party shall assign this Agreement
or any rights hereunder, in whole or in part, whether voluntary or by operation of law, without the prior written consent of the other Party. Subject to the foregoing, this Agreement will be binding upon and inure to the benefit of each of the
Parties, their respective successors and permitted assigns. Any assignment in violation of the foregoing shall be void. 
 12.2
Notices. All notices pursuant hereto shall be in writing and shall be deemed to have been properly given, served and received if (a) delivered by messenger, when delivered, (b) if mailed, on the fifth (5th) business day after
deposit in the United States mail certified, postage prepaid, return receipt requested or (c) delivered by reputable overnight express courier, freight prepaid, the next business day after delivery to such courier. Notices shall be addressed to
the Parties as set forth below: 
  

			
	If to Licensee:
	
	Republic Bank & Trust Company
	601 W. Market Street
	Louisville, KY 40202
	Attn: William Nelson
	Email: bnelson@republicbank.com
	
	with a copy to:
	
	Republic Bank & Trust Company
	601 W. Market Street
	Louisville, KY 40202
	Attn: Legal Department
	
	If to Licensor:
	
	Elevate Decision Sciences, LLC
	4150 International Plaza, Suite 400
	Fort Worth, Texas 76109
	Attention:	  	Chief Executive Officer
	E-Mail:	  	krees@thinkfinance.com
	
	With a copy (for informational purposes only) to:
	
	Alston & Bird LLP
	2828 North Harwood Street, Suite 1800
	Dallas, Texas 75201
	Telephone:	  	(214) 922-3504
	Attention:	  	Mark W. Harris, Esq.
	E-Mail:	  	mark.harris@alston.com

  
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PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 Each Party may change its addresses for notice by serving written notice upon the other Party.

 12.3 Force Majeure. Except with respect to any payment or confidentiality obligations, neither Party will incur any liability to
the other Party on account of any loss or damage resulting from any delay or failure to perform all or any part of this Agreement if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control and
without negligence of the Parties. Such events, occurrences, or causes will include, without limitation, acts of God, strikes, lockouts, riots, acts of war, earthquake, fire and explosions, but the inability to meet financial obligations is
expressly excluded. To the extent a force majeure as described herein lasts or is expected to last for more than fifteen (15) calendar days, the Party not suffering the force majeure may terminate this Agreement with no further obligations
hereunder other than those that survive the termination of this Agreement as provided for in Section 10.4. 
 12.4 Waiver. Any
waiver of the provisions of this Agreement or of a Party’s rights or remedies under this Agreement must be in writing to be effective. Failure, neglect, or delay by a Party to enforce the provisions of this Agreement or its rights or remedies
at any time, will not be construed and will not be deemed to be a waiver of such Party’s rights under this Agreement and will not in any way affect the validity of the whole or any part of this Agreement or prejudice such Party’s right to
take subsequent action. 
 12.5 Severability. If any provision in this Agreement is found to be invalid, unlawful or unenforceable to
any extent, then the Parties shall endeavor in good faith to agree to such amendments that will preserve, as far as possible, the intentions expressed in this Agreement. If the Parties fail to agree on such an amendment, such invalid term, condition
or provision will be severed from the remaining terms, conditions and provisions, which will continue to be valid and enforceable to the fullest extent permitted by law. 

12.6 Integration. This Agreement including the Exhibits hereto contains the entire agreement of the Parties with respect to the subject
matter of this Agreement and supersedes all previous communications, representations, understandings and agreements, either oral or written, between the Parties with respect to said subject matter. This Agreement may not be amended, except by a
writing signed by both Parties and in a form specifically referencing the modified provisions of this Agreement. 
 12.7 Superseding
Terms. No terms, provisions or conditions of any current or future purchase order, sales order, acknowledgment or other business form that the Parties may use in connection with the current or future orders to license the Software will have any
effect on the rights, duties or obligations of the Parties under, or otherwise modify, this Agreement, regardless of any failure of Licensor to object to such terms, provisions or conditions. 

  
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PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 12.8 Export. Licensee may not export or re-export the Software. 

12.9 Relationship of Parties. Each Party is an independent contractor and nothing in this Agreement is intended or shall be deemed to
constitute a partnership, agency, employer-employee or joint venture relationship between the Parties. No Party shall incur any debts or make any commitments for the other. 

12.10 Governing Law. This Agreement shall be a contract made under, and governed and enforced in every respect by, the internal laws of
the Commonwealth of Kentucky, without giving effect to its conflicts of law principles. Any dispute, controversy, or claim, whether contractual or non-contractual, between the Parties arising directly or indirectly out of or connected with this
Agreement, including claims relating to the breach or alleged breach of any representation, warranty, agreement, or covenant under this Agreement, unless mutually settled by the Parties and including the determination of the scope or applicability
of this agreement to arbitrate, shall be determined by arbitration in Wilmington, Delaware, provided, however, that the foregoing shall not include any claims for declaratory relief. The arbitration shall be administered by JAMS pursuant to its
(Comprehensive Arbitration Rules and Procedures). Judgment on the award may be entered in any court having jurisdiction. This clause shall not preclude the Parties from seeking provisional remedies in aid of arbitration from a court of appropriate,
except that the Parties agree that the arbitration, the arbitrators’ authority and the relief available shall be limited as follows: 
  

	 	(a)	The arbitrators shall be obligated to apply the rules of evidence and the substantive laws of the Commonwealth of Kentucky applicable to actions litigated in the courts of the Commonwealth of Kentucky; and

  

	 	(b)	The arbitrators shall be deemed to have exceeded their powers, authority or jurisdiction if the award they render is not correct under the applicable law and properly admitted evidence, if the arbitrators grant relief
not expressly permitted under this Agreement or if the arbitrators otherwise fail to comply with the terms and limitations of this paragraph. In the event of any conflict between the rules of JAMS and this Agreement, this Agreement will control. Any
arbitration shall be conducted by arbitrators approved by JAMS and mutually acceptable to the Parties. All such disputes, controversies, or claims shall be conducted by a single arbitrator, unless the dispute involves more than $50,000 in the
aggregate in which case the arbitration shall be conducted by a panel of three arbitrators. If the Parties are unable to agree on the arbitrator(s), then JAMS shall select the arbitrator(s). The resolution of the dispute by the arbitrator(s) shall
be final, binding, nonappealable, and fully enforceable by a court of competent jurisdiction under the Federal Arbitration Act. The arbitration award shall be in writing and shall include a statement of the reasons for the award. Process in any such
action may be served upon any Party in the manner provided for giving of notices to it herein. 

  
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PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 12.11 Waiver of Rights to Trial by Jury. EACH PARTY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY
JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND
THAT ANY PARTY MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

12.12 Jurisdiction, Venue and Service of Process. Subject to the provisions of Section 12.10, the Parties hereby consent to the
exercise of jurisdiction over their person and its property by any court of competent jurisdiction for the enforcement of this Agreement or in any other controversy, dispute or question arising hereunder, and each Party hereby waives any and all
personal or other rights to object to such jurisdiction for such purposes. Each Party, for itself and its successors and assigns, hereby waives any objection which it may have to the laying of venue of any such action or suit at any time, each Party
agrees that service of process may be made, and personal jurisdiction over such Party obtained, by service of a copy of the summons, complaint and other pleadings required to commence such litigation by personal delivery or by United States
certified or registered mail, return receipt requested, addressed to such Party at its address for notices as provided in this Agreement. Each Party waives all claims of lack of effectiveness or error by reasons of any such service. 

12.13 Signatures. This Agreement may be executed simultaneously in multiple counterparts, each of which will be considered an original,
but all of which together will constitute one and the same instrument. Signatures received by facsimile, PDF file or other electronic format shall be deemed to be original signatures. 

<signature page follows> 

  
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 12 

 IN WITNESS WHEREOF, duly authorized representatives of each of the Parties has executed this Agreement as
of the Effective Date. 
  

									
	Licensor:	 		 	Licensee:
			
	Elevate Decision Sciences, LLC	 		 	Republic Bank & Trust Company
					
	By:	 	 /s/ Kenneth E. Rees
	 		 	By:	 	 /s/ John T. Rippy

					
	Name:	 	Kenneth E. Rees	 		 	Name:	 	John T. Rippy
					
	Title:	 	President and CEO	 		 	Title:	 	Senior Vice President and Chief Credit Risk Officer

  
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 EXHIBIT A 

SOFTWARE AND FEES 
  

	A.	Software Description: 

 The Software is Licensor’s automated consumer credit decisioning, processing
and servicing software application. 
  

	 	•	 	Software description: 

  

	 	•	 	The Software is an internet-based consumer credit platform that permits the collection, verification, scoring, evaluation, funding, and servicing of lines of credit. 

 

	 	•	 	The Software will include an accounting and loan tracking system to accurately and immediately reflect all Applications, Accounts and related information regarding Accounts to ensure compliance with all applicable laws,
rules and regulations. 

  

	 	•	 	The Software will also include internet-based financial literacy and training materials for Borrowers that, once reviewed and approved by Licensee, shall be made available on a website hosted by Licensor or an affiliate
thereof. 

  

	 	•	 	Server hardware requirements: 

  

	 	•	 	As of the Effective Date, the Software shall be hosted on a hardware platform located in a data center under contract with Licensor or Licensee as determined by the Parties. 

 

	B.	Fees: 

 License Fees – Licensee will pay Licensor a fee equal to [****] per Account, which
fee shall be due and payable upon the extension by Licensor of the initial cash advance to the Borrower under such Account. Licensee shall pay or cause to be paid the aggregate license fees to the Licensor on a monthly basis within ten
(10) Business Days after being presented with an invoice at the end of each month with respect to all Accounts for which an initial cash advance was made to the Borrower during the prior month, as evidenced in a listing of accounts set forth in
an electronic report provided by Licensor to Licensee pursuant to Exhibit D. If Licensee does not make any payment as and when due then, in addition to paying such amount, Licensee shall also pay a late charge equal to the lesser of
(i) one and one-half percent (1.5%) of the unpaid amount per month or portion thereof or (ii) the maximum late charge permitted by applicable law until the unpaid amount is paid in full. 

Professional Services – [****] per hour. This is for work or other services requested by Licensee, related to the customization of the Software
for its requirements, other than standard implementation services. Any travel and accommodation costs incurred will be billed in addition 

  
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if approved in advance by Licensee. Licensor will obtain Licensee’s prior approval of any such expenses in excess of [****] in any month. All professional services shall be performed in a
professional manner consistent with industry standards. Licensee shall be billed monthly in arrears. Payment terms are net thirty (30) calendar days from date of invoice. If any payment is not made as and when due, then Licensee shall also pay
a late charge on the unpaid amount at a rate equal to the lesser of one and one-half percent (1.5%) per month or the maximum late charge permitted by applicable law. 
  

	C.	Expenses: 

 Licensee shall pay or reimburse Licensor for all data usage or other fees incurred by
Licensor in connection with the transactions contemplated hereby. Licensor shall invoice Licensee for such expenses on a monthly basis. Within ten (10) Business Days after the receipt of a properly-documented invoice (with copies of supporting
invoices, as appropriate) from Licensor, Licensee shall pay or cause to be paid such expenses incurred by Licensor during the prior calendar month. 
  

	D.	Validation: 

 Licensor agrees to provide reasonable cooperation in connection with Licensee’s
testing and validation processes with respect to the Software provided that Licensee shall (a) not conduct any testing and validation processes with respect to the Software more than three (3) times during the first twelve (12) months
of this Agreement, unless there is a new release or modification or Licensee determines that there is an issue that requires subsequent testing and validations, (b) not conduct any testing and validation processes with respect to the Software
more than once in any twelve (12) month period after the initial twelve (12) months of this Agreement, unless Licensee determines that there is an issue that requires subsequent testing and validations, (c) provide Licensor with
reasonable prior written notice prior to conducting any testing validation processes with respect to the Software, and (d) use reasonable efforts not to disrupt Licensor’s regular business operations 

*        *        * 

  
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 EXHIBIT B 

MAINTENANCE AND SUPPORT 
 At no additional
charge, Licensor shall provide the following Maintenance and Support to Licensee: 
  

	1.	Updates. 

 Licensor shall make available to Licensee all Updates (as defined in Section 1 of the
Agreement) for Licensee’s reasonable review, testing and validation prior to their release in accordance with Section 6.2. Due to the nature of internet- and web-based applications, Licensee acknowledges and agrees that only the current
version of the Software will be enabled for Use and supported; all other versions of the Software are archived under a source control system for historical reference purposes only, and are not maintained as functioning Software. 

 

	2.	Technical Support. 

 a. Licensee will designate up to three (3) named persons on its
technical support staff who will be authorized to contact Licensor to receive support with the Software. Licensee may change these designated persons from time-to-time by providing written notice to Licensor. Licensor shall provide support in the
Use of the Software from its offices by telephone, email and fax during the hours of 9:00 a.m. to 5:00 p.m. CT, Monday to Friday, excluding holidays. 

b. Licensor will use reasonable efforts to answer questions and correct problems (or to provide suitable temporary solutions or workarounds
for problems) in the Licensor’s initial response or consultation with Licensee. If further action is necessary, then Licensor will use reasonable efforts to answer the question or correct the problem (or to provide suitable temporary solutions
or workarounds for problems) within twenty-four (24) hours after the Licensor Support Contact’s initial telephone contact with Licensee. 

c. Licensor will not be responsible for failure to correct a problem to the extent that the problem is caused by (i) a malfunction of
computer hardware or software other than the Software or the server software and hardware used by Licensor to host the Software, (ii) any modification of the Software by anyone other than Licensor which problem would not have occurred but for
such modification, (iii) use of the Software with systems other than those contemplated by this Agreement or the Documentation or (iv) Licensee’s failure to implement updates provided to Licensee by Licensor as required herein. 

d. Licensee will provide Licensor with reasonable access to Licensee’s authorized technical support staff for the sole purpose of
facilitating Licensor’s performance of its Support and Maintenance obligations. 
 e. Licensee will provide information and materials
reasonably requested by Licensor for use in replicating, diagnosing and correcting an error or other Software problem reported by 

  
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Licensee. If there have been modifications or custom coding made to the Software by anyone other than Licensor, then at Licensor’s request the Licensee will be required to demonstrate that
the issue, error or defect that is the basis of the Licensee’s support request so that it can be reproduced without the presence of any such modifications or custom coding made to the Software. Licensee acknowledges that all Updates provided by
Licensor will be cumulative in nature, and therefore Licensee shall permit the installation of all Updates provided by Licensor as soon as Licensor and Licensee mutually deem practical. Licensee further acknowledges that Licensor’s ability to
provide satisfactory Support and Maintenance is dependent on Licensee (i) accepting the installation of all Updates that have been reviewed, tested and validated by Licensee as provided for herein, and (ii) providing Licensor with all
information reasonably necessary to replicate problems. 

*        *        * 

  
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 EXHIBIT C 

PERSONAL DATA PRIVACY AND SECURITY 

Personal Data Privacy and Security. 
 a. The Parties
acknowledge that Licensee Personal Data is owned by Licensee. Licensor shall not disclose Licensee Personal Data to third parties without having first received express written approval from Licensee. Each Party, including its staff, shall view and
Process Licensee Personal Data only on a need-to-know basis and only to the extent necessary to perform this Agreement. 
 b. Each Party shall adopt and
implement industry standard written information security guidelines, which guidelines include without limitation: (a) physical, administrative and technological controls; (b) security training and oversight; (c) written plans to
assess and manage system failures and change controls; (d) regular assessments of security risks and measures to prevent and detect unauthorized access; (e) collection, maintenance, transmittal and disposal of Client Customer PII; and
(f) notice and incident response procedures. Such guidelines shall be designed to ensure the security and confidentiality of Licensee Personal Data in order to prevent, among other things: (i) accidental, unauthorized or unlawful
destruction, alteration, modification or loss of Licensee Personal Data; (ii) accidental, unauthorized or unlawful disclosure of or access to Licensee Personal Data; and (iii) unlawful forms of Processing. The security measures adopted and
implemented shall be in compliance with applicable data protection regulations (specifically 12 C.F.R. Sections 40.1-40.18, and 12 C.F.R. Part 30, Appendix B) and shall be adapted to the risks presented by the Processing and the nature of the
Licensee Personal Data to be Processed, having regard to the state of the art and the cost of implementation. Each Party shall promptly inform the other of any breach of this security and confidentiality undertaking, unless prohibited from doing so
by law. 
 c. Each Party shall notify the other Party of any “Security Breach” involving any Licensee Personal Data collected by such Party
pursuant to this Agreement, where “Security Breach” is defined as any event involving an actual, potential or threatened compromise of the security, confidentiality or integrity of the data including, but not limited to, any unauthorized
access or use, or any broader circumstances as defined in any applicable Law. The breached Party shall conduct an investigation into the cause of the breach and provide the other Party with a reasonably detailed description of the Security Breach,
the type of data that was the subject of the Security Breach, the identity of each affected person, and any other information the other Party may reasonably request concerning such affected persons and the details of the breach, as soon as such
information can be collected or otherwise becomes available. The responsible Party agrees to take action promptly, at its own expense, to investigate the Security Breach and to identify, prevent and mitigate the effects of any such Security Breach,
and to carry out any recovery or other action (e.g., mailing statutory notices) necessary to remedy the Security Breach. The content of any filings, communications, notices, press releases, or reports related to any Security Breach
(“Notices”) must first be approved by both Parties prior to any publication or communication thereof to any third party. Licensor shall pay for or reimburse Licensee for all 

  
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costs, losses and expenses relating to any Security Breach, including without limitation, the cost of Notices unless any such Security Breach is the result of negligence or fraud of the breaching
Party, employee or contractor. 
 d. Each Party shall implement measures necessary to reasonably ensure compliance by its staff with the obligations
relating to Licensee Personal Data. 
 e. During the term of this Agreement and for a period of one (1) year thereafter, each Party reserves the right
to conduct at any time during regular business hours, subject to a prior written notice, an on-site verification of the other Party’s compliance with obligations relating to Licensee Personal Data. Each Party shall provide access to all
concerned facilities, equipment and records in order to conduct such verification. 
 f. If either Party will Process any Licensee Personal Data or other
information of Licensee’s Borrowers (“Customer Information”) collected pursuant to this Agreement that is subject to Title V of the Gramm-Leach-Bliley Financial Services Modernization Act of 1999 and regulations promulgated
under that Act (collectively “GLB”) or other federal, state, and local laws, rules, regulations, and ordinances governing the privacy and security of customer information (collectively “Customer Information Privacy
Laws”), then each Party agrees to comply with GLB and other Customer Information Privacy Laws, and to protect and maintain the privacy of such Customer Information accordingly. Such compliance shall include, but not be limited to, each
Party: (i) adopting and maintaining a written information security program as described in paragraph (a) above; (ii) not disclosing any Customer Information to any third party except as expressly provided in this Agreement;
(iii) ensuring that its employees and subcontractors who obtain or have access to Customer Information comply at all times with the Customer Information Privacy Laws and the applicable provisions of this Agreement; and (iv) protecting and
maintaining the security of all Customer Information in its custody or under its control. Each Party shall immediately report to the other Party any unauthorized disclosure or use of or any unauthorized access to any Customer Information in its
custody or under its control. 
 g. Each Party will maintain a record retention and destruction policy, and agrees that it will retain Personal Data
collected hereunder only for so long as is necessary to provide the services contemplated hereby. Upon termination of this Agreement and subject to any transitional period provided for in the Agreement, each Party will promptly return to the other
Party any such Confidential Information of the disclosing party that is in tangible form. In the event of such a request, all other documents, memoranda, notes and other writings whatsoever prepared by receiving party or its representatives, based
on the Confidential Information (including all copies, extracts and reproductions thereof) shall be destroyed. Confidential Information provided by the disclosing party will be limited to one instance on the receiving Party’s network (only one
version) except for instances that may be for disaster recovery purposes. For disaster recovery purposes, access will be limited to the receiving Party’s employees on an as needed only basis, with a defined retention/destruction period. The
receiving Party affirms that it will send a disposal notice once its version has been destroyed. 

*        *        * 

  
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 EXHIBIT D 

ACCOUNT SERVICING 
  

	1.	Licensor Obligations. Licensor agrees to provide Account servicing support in accordance with the Program Guidelines, including, but not limited to the following. 

 

	 	a.	Establish and maintain an electronic interface between Licensor and Licensee. 

  

	 	b.	Supply Licensee with the required Account data. 

  

	 	c.	Maintain the required information for each Account: 

  

	 	i.	Borrower name; 

  

	 	ii.	Borrower tax identification number; 

  

	 	iii.	Borrower address; 

  

	 	iv.	Borrower date of birth; 

  

	 	v.	Date of service; and 

  

	 	vi.	Account balance. 

  

	 	d.	Provide each Borrower with initial account opening disclosures including, truth-in-lending disclosures, application and privacy notice. 

 

	 	e.	Provide each Borrower with a periodic billing statement. 

  

	 	f.	Provide adverse action notices and any other documents or notifications required by regulation, applicable law or the Program Guidelines. 

 

	 	g.	Reconcile all Accounts on a daily basis (credits and debits). 

  

	 	h.	Post payments, collections or other credits to the Borrowers’ Accounts when received. 

  

	 	i.	Standard reports and exception reports as reasonably requested by RB. 

  

	2.	Licensee Obligations. Licensee, either directly or through a Third Party Service Provider, shall provide all other Account servicing not specified in paragraph 1 above in accordance with the Program Guidelines.

  

	3.	Service Level Agreements. Licensor shall provide the following services, measured on a monthly basis, excluding any Approved Maintenance, Emergency Maintenance or Scheduled Maintenance: 

 

	 	a.	Borrower Web Access Availability – 99.0% daily availability (calendar month average). 

  
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	 	b.	Third Party Service Provider (Phone Support) Web Access Availability – 99.0% daily availability (calendar month average). 

  

	 	c.	Definitions. 

  

	 	i.	“Approved Maintenance” shall mean Scheduled Maintenance and Emergency Maintenance. 

  

	 	ii.	“Emergency Maintenance” shall mean maintenance relating to the security of Confidential Information or Licensors systems. 

  

	 	iii.	“Scheduled Maintenance” shall mean routine, scheduled maintenance. Licensor may have regularly scheduled planned outages of the Services at reasonable times upon not less than five (5) business days prior
written notice to Licensee. During such planned outages, the affected services shall be exempt from SLA measurements. 

  

	 	iv.	Excuse from Performance. Licensor shall not be responsible for a failure to meet any Service Level to the extent that such failure is directly attributable to, or Licensor’s performance is materially hindered by,
any of the following: 

  

	 	a.	Licensee’s (or a Licensee affiliate’s or a third party supplier’s) acts, errors, omissions, or breaches of the Agreement; or 

 

	 	b.	Any event that would constitute a Force Majeure Event pursuant to the Agreement. 

  

	 	d.	Penalties. 

  

	 	i.	Upon the failure to comply with any aspect of the Service Level Agreement set out in this Exhibit “D”, Licensor shall submit to the Licensee a corrective action plan addressing such failure to comply. This
plan shall be submitted within five (5) business days of notice from the Licensee of a failure to comply. 

  

	 	ii.	Upon the failure to comply a second time with the same Service Level Agreement obligation, upon notice to Licensor, Licensor shall make its President or Chief Executive Officer available to meet with the Licensee to
address the failure. 

  

	 	iii.	 Upon the third failure to comply with the same Service Level Agreement 

  
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obligation within a twelve month period, Licensee may, at its option, either terminate the specific subject services or terminate this Agreement in its entirety by giving written notice of
termination to Licensor, in which case the date of termination shall at least one-hundred twenty (120) days from the date of the notice. 

  
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 9EX-10.7

 Exhibit 10.7 

Execution Version 

ADMINISTRATIVE SERVICES AGREEMENT 

THIS ADMINISTRATIVE SERVICES AGREEMENT (this “Agreement”), is made as of July 1, 2015, by and between Elastic SPV, Ltd.,
an exempted company incorporated with limited liability under the laws of the Cayman Islands (“ESPV”) and Elevate@Work Admin, LLC, a Delaware limited liability company (“Agent”). Each party to this Agreement may be
referred to herein as a “Party” or collectively as “Parties.” 
 Recitals 

WHEREAS, ESPV has entered into (i) a Participation Agreement of even date herewith (the “Participation
Agreement”) with Republic Bank & Trust Company, a Kentucky chartered state bank (“RB”), pursuant to which ESPV may from time to time acquire from RB certain Participation Interests in Advances, including the
Receivables and the Collections related thereto (as each such term is defined below), and (ii) a Participation Interest Purchase and Sale Agreement of even date herewith (the “Participation Interest Purchase and Sale
Agreement”) with Elastic@Work, LLC, a Delaware limited liability company (“E@W”), pursuant to which ESPV will acquire from E@W certain Participation Interests in Advances, including the Receivables and Collections related
thereto. 
 WHEREAS, in connection with the transactions contemplated by the Participation Agreement, ESPV desires to appoint Agent,
and Agent desires to accept such appointment, as a provider of certain services as set forth herein. 
 NOW, THEREFORE, in
consideration of the foregoing and other good and valuable consideration, the receipt of which is hereby acknowledged, Agent and ESPV agree as follows: 

Agreement 

ARTICLE 1 
 DEFINITIONS

 Section 1.1. Definitions. The following terms shall have the following meanings and any capitalized terms used but not
defined herein shall have the meanings assigned to such terms in the Participation Agreement or, if not defined therein, the Financing Agreement. 

“Account” shall have the meaning given to such term in the Participation Agreement or the Participation Interest Purchase and
Sale Agreement (as the case may be). 
 “Additional Amount” shall have the meaning set forth in Section 8.3(a).

 “Advance” shall have the meaning given to such term in the Participation Agreement or the Participation Interest
Purchase and Sale Agreement (as the case may be). 
 “Advance Fee” shall have the meaning given to such term in Exhibit A
to the Participation Agreement. 
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF
THE SECURITIES ACT OF 1933, AS AMENDED. 

 “Affiliates” shall mean with respect to any Person, any Person directly or
indirectly controlling, controlled by, or under common control with such other Person. 
 “Agent” shall have the meaning
set forth in the introductory paragraph. 
 “Agent Fee” shall mean a fixed monthly fee of [****], payable to the Agent
pursuant to Section 2.5 hereof. 
 “Agreement” shall have the meaning set forth in the introductory paragraph.

 “Applicant” shall mean a prospective Borrower. 

“Articles of Association” shall mean the Memorandum and Articles of Association of ESPV, dated as of June 23, 2015,
filed under the Companies Law (2013 Revision) of the Cayman Islands (as amended from time to time). 
 “Borrowers” shall
mean any obligor on an Account. 
 “Business Day” means a day other than Saturday, Sunday or a public holiday on which
banks are authorized or required to be closed under the laws of the State of Delaware. 
 “Code” shall mean the Internal
Revenue Code of 1986, as amended. 
 “Collections” shall have the meaning given to such term in the Participation Agreement
or the Participation Interest Purchase and Sale Agreement (as the case may be). 
 “Credit Advance” shall mean an advance
by Lender to ESPV pursuant to the Financing Agreement. 
 “Credit Default Protection Agreement” shall mean the Credit
Default Protection Agreement of even date herewith by and between E@W and ESPV, as the same may be amended, supplemented, restated or otherwise modified from time to time. 

“Current Interest Rate” shall have the meaning assigned to such term in the Financing Agreement; provided that if an
“Event of Default” has occurred and is continuing under the Financing Agreement, the “Current Interest Rate” shall mean the Default Rate. 

“Customer Information” shall have the meaning given to such term in the Participation Agreement. 

“Default Rate” shall have the meaning assigned to such term in the Financing Agreement. 

“Draft Accounts” shall have the meaning set forth in Section 2.2(f). 

“E@W” shall have the meaning set forth in the recitals. 

  
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 “E@W Credit Risk Premium” shall have the meaning given to such term in the
Credit Default Protection Agreement. 
 “Elevate Credit” shall mean Elevate Credit, Inc., a Delaware corporation. 

“ESPV” shall have the meaning set forth in the introductory paragraph. 

“ESPV Credit Default Payment” shall have the meaning given to such term in the Credit Default Protection Agreement. 

“ESPV Indemnified Parties” shall have the meaning given to such term in the Participation Agreement. 

“Financing Agreement” shall mean that certain Financing Agreement of even date herewith by and between ESPV and Lender (as
the same may be amended, supplemented, restated or otherwise modified from time to time) pursuant to which Lender shall extend a credit facility to ESPV to facilitate the purchase by ESPV of Participation Interests from time to time pursuant to the
Participation Agreement and the Participation Interest Purchase and Sale Agreement. 
 “Finance Charge Receivables” shall
have the meaning given to such term in the Participation Agreement or the Participation Interest Purchase and Sale Agreement (as the case may be). 

“Fixed Return” shall mean, for any calendar month, a rate of return equal to the sum of the product of (x) [****] of the
Current Interest Rate and (y) the average daily aggregate outstanding of each Credit Advance applicable to the Participation Interests during such calendar month, calculated on a daily basis. 

“Funding Request” shall have the meaning set forth in Section 2.7. 

“GAAP” shall mean generally accepted accounting principles, consistently applied, in the United States of America. 

“GLBA” shall have the meaning set forth in Section 4.4(a)(ii). 

“Governmental Authority” shall mean any federal or state government (or any political subdivision of any of the foregoing),
and any agency, authority, commission, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government,
whether or not any such Governmental Authority has jurisdiction over a Party. 
 “Initial Advance” shall have the meaning
given to such term in the Participation Agreement or the Participation Interest Purchase and Sale Agreement (as the case may be). 

  
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 “Insolvency Event” means, with respect to a specified Person, (a) the
institution of a proceeding or the filing of a petition against such Person seeking the entry of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an
involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, seeking the appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such
Person or for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such proceeding or petition, decree or order shall remain unstayed or undismissed for a period of 60 consecutive days or
an order or decree for the requested relief is earlier entered or issued; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect,
or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by, a receiver, liquidator, assignee, custodian, trustee,
sequestrator, or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such
debts become due, or the taking of action by such Person in furtherance of any of the foregoing. 
 “Knowledge” means
(a) as to any natural Person, the actual awareness of the fact, event or circumstance at issue or receipt of notification by proper delivery of such fact, event or circumstance and (b) as to any Person that is not a natural Person, the
actual awareness of the fact, event or circumstance at issue by a Responsible Officer of such Person or receipt, by a Responsible Officer of such Person, of notification by proper delivery of such fact, event or circumstance. 

“Lender” shall have the meaning given to such term in the Financing Agreement. 

“Ledgers” shall have the meaning set forth in Section 2.2(a). 

“Liens” shall mean any mortgage, lien, pledge, security interest, conditional sale or other title retention agreement, charge
or other security interest or encumbrance of any kind, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement or any lease or license in the nature thereof, any
option or other agreement to sell or give a security interest in. 
 “Loan Documents” shall mean the loan agreements,
regulatory disclosures and other documentation evidencing and governing the Accounts and the Receivables. 
 “Losses” shall
mean all out-of-pocket costs, damages, losses, Taxes, fines, penalties, judgments, settlements, and expenses whatsoever, including, without limitation: (i) outside attorneys’ fees and disbursements and court costs reasonably incurred; and
(ii) costs (including reasonable expenses and reasonable value of time spent) attributable to the necessity that any officer or employee (other than in-house attorneys) spend more than twenty-five percent (25%) of his or her normal
business hours, over a period of two (2) months, in connection with any judicial, administrative, legislative, or other proceeding. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 “Maintenance Account” shall mean a segregated deposit account in the name of
ESPV at a depository institution selected by Victory Park, into which account shall be swept all amounts on deposit in the Operating Account in excess of [****] in the aggregate. 

“Material Adverse Effect” shall mean a material adverse effect on: (i) the business operations, properties, assets,
condition (financial or otherwise) of Agent; (ii) the ability of Agent to fully and timely perform its obligations under this Agreement or any of the other Transaction Documents to which it is a party; (iii) the legality, validity, binding
effect, or enforceability against Agent of this Agreement or any of the other Transaction Documents to which it is a party; or (iv) the rights, remedies and benefits available to the Agent and ESPV under this Agreement or under any of the other
Transaction Documents to which it is a party. 
 “Monthly Expenses” shall mean, for a given month, the expenses described
in Section 8.2 for such month. 
 “Monthly Maintenance Fee” shall have the meaning given to such term in the
Financing Agreement. 
 “Non-Excluded Taxes” shall have the meaning set forth in Section 8.3(a). 

“Other Taxes” shall have the meaning set forth in Section 8.3(b). 

“Operating Account” shall mean a segregated deposit account in the name of ESPV at a depository institution selected by
Victory Park, from which the Agent shall effectuate the purchase of Participation Interests from RB by ESPV, and into which the Agent shall deposit or cause to be deposited all amounts (i) received from RB or any other source with respect to
Participation Interests purchased by ESPV pursuant to the Participation Agreement or the Participation Interest Purchase and Sale Agreement, and (ii) received from E@W with respect to Reserve Deposits funded pursuant to the Credit Default
Protection Agreement. 
 “Participation Agreement” shall have the meaning set forth in the recitals. 

“Participation Interest Purchase and Sale Agreement” shall have the meaning set forth in the recitals. 

“Participation Interest” shall have the meaning given to such term in the Participation Agreement or the Participation
Interest Purchase and Sale Agreement (as the case may be). 
 “Participation Percentage” shall have the meaning set forth
in the Participation Agreement or the Participation Interest Purchase and Sale Agreement (as the case may be). 
 “Party”
shall have the meaning set forth in the introductory paragraph. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 “Payee” shall have the meaning set forth in Section 8.3(a). 

“Person” means any individual, corporation, estate, partnership, limited liability company, joint venture, association, joint
stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision thereof. 

“Principal Receivables” shall have the meaning given to such term in the Participation Agreement or the Participation
Interest Purchase and Sale Agreement (as the case may be). 
 “Proceeding” shall mean any action, suit, proceeding, inquiry
or investigation before or by any court, public board or government agency. 
 “Program” shall have the meaning given to
such term in the Participation Agreement. 
 “Program Guidelines” shall have the meaning set forth in the Financing
Agreement. 
 “Purchases” shall have the meaning given to such term in Section 2(a) of the Participation Agreement.

 “Receivables” shall have the meaning given to such term in the Participation Agreement or the Participation Interest
Purchase and Sale Agreement (as the case may be). 
 “Records” shall have the meaning set forth in Section 9.9.

 “Recoveries” shall have the meaning given to such term in the Participation Agreement or the Participation Interest
Purchase and Sale Agreement (as the case may be). 
 “Regulatory Authority” shall mean any applicable federal, local or
state agency having jurisdiction over the Parties. 
 “Requirements” shall mean all Laws applicable to RB, ESPV, the
Program, the Accounts or the transactions contemplated by the Participation Agreement. 
 “Reserve Deposit” shall have the
meaning given to such term in the Credit Default Protection Agreement. 
 “Responsible Officer” means, when used with
respect to the Agent, the Chief Financial Officer, a Vice President, an Assistant Vice President, the Chief Accounting Officer or the Secretary of the Agent, as applicable. 

“Security Agreement” shall have the meaning given to such term in the Financing Agreement. 

“Services” shall have the meaning set forth in Section 2.1. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 “Servicing Fees” shall have the meaning given to such term in the Participation
Agreement. 
 “Standard of Performance” shall have the meaning set forth in Section 3.1. 

“Subsequent Advance” shall have the meaning given to such term in the Participation Agreement or the Participation Interest
Purchase and Sale Agreement (as the case may be). 
 “Taxes” shall mean any present or future tax, levy, impost, duty,
assessment, charge, fee, deduction or withholding of any nature and whatever called, by whomsoever, on whomsoever and wherever imposed, levied, collected, withheld or assessed (including penalties, interest and additions thereon). 

“Termination Event” shall mean the occurrence of one of the following events: 

(a) Any failure by the Agent to deliver or deposit any proceeds or payment required to be so delivered or deposited under this
Agreement that continues unremedied for a period of two (2) Business Days after the earlier of (x) notice (whether written or oral) of such failure is provided to the Agent and (y) the Agent obtains Knowledge of such failure; 

(b) Failure on the part of the Agent to duly observe or perform any other covenants or agreements of the Agent set forth in
this Agreement, which failure continues unremedied for a period of 30 days (or, if the Agent shall have provided evidence satisfactory to ESPV that such obligation cannot be cured in the 30-day period and that it is diligently pursuing a cure, 60
days), after the earlier of (x) the Agent first acquiring Knowledge thereof and (y) the date on which written notice of such failure shall have been given to the Agent; 

(c) Any representation, warranty or statement of the Agent made in this Agreement or any certificate, report or other writing
delivered pursuant hereto shall prove to be incorrect in any material respect as of the time when the same shall have been made, and the incorrectness of such representation, warranty or statement has a material adverse effect on ESPV and is not
remedied within 30 days (or, if the Agent shall have provided evidence satisfactory to ESPV that such breach cannot be cured in the 30-day period and that it is diligently pursuing a cure, 60 days) after the earlier of (x) the Agent first
acquiring Knowledge thereof and (y) the date on which written notice of such failure shall have been given to the Agent; or 

(d) The occurrence of an Insolvency Event with respect to the Agent. 

“Terrorism Laws” shall mean (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control
regulations of the United States of America Treasury Department and any other enabling legislation or executive order relating thereto and (ii) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act, and the regulations adopted thereunder. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 “Third Party Service Provider” shall have the meaning given to such term in the
Participation Agreement. 
 “Transaction Documents” shall mean this Agreement, the Participation Agreement, the Financing
Agreement, the Articles of Association of ESPV and each of the other agreements, documents, certificates or other instruments delivered in connection with the transactions contemplated hereby and thereby. 

“Victory Park” shall mean Victory Park Management, LLC, a Delaware limited liability company. 

“Victory Park Syndication Management Fee” shall have the meaning assigned to such term in the Financing Agreement. 

ARTICLE 2 
 APPOINTMENT;
SERVICES; FEES 
 Section 2.1. Appointment. ESPV hereby appoints Agent as the exclusive provider of the administrative
services described in this Agreement, including without limitation the services described in Sections 2.2, 2.3, and 2.4 (collectively, the “Services”), to ESPV on the terms and conditions set forth in this
Agreement. Agent accepts such appointment and agrees to perform the Services on the terms and conditions set forth in this Agreement. Notwithstanding the foregoing or anything else to the contrary in this Agreement, ESPV shall retain all of its
power and authority over its actions including, without limitation, at its option and in its sole discretion, its right to direct the performance of the Services delegated to and to be performed by Agent hereunder. 

Section 2.2. Services. Agent shall perform the following Services for ESPV during the term of this Agreement: 

(a) The Agent shall establish an accounting system and maintain the accounting ledgers of and for ESPV in accordance with GAAP, unless
otherwise required by applicable law (collectively, the “Ledgers”); 
 (b) The Agent shall perform daily settlement
reporting and accounting with respect to the Participation Interests acquired by ESPV pursuant to the Participation Agreement and the Participation Interest Purchase and Sale Agreement; 

(c) Upon receiving daily approval from ESPV, the Agent shall disburse funds for the purchase of Participation Interests by ESPV using funds in
the Operating Account, provided that such funds shall only be used to purchase Participation Interests approved by ESPV in accordance with the proviso at the end of this Section 2.2. In addition, the Agent shall, upon approval by ESPV,
permit E@W to use Reserve Deposits from the Operating Account from time to time in order to fund ESPV Credit Default Payments under the terms of the Credit Default Protection Agreement; 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (d) The Agent shall promptly deposit into the Operating Account all amounts (i) received
from RB or any other source with respect to Participation Interests purchased by ESPV pursuant to the Participation Agreement and the Participation Interest Purchase and Sale Agreement, and (ii) received from E@W with respect to Reserve
Deposits funded pursuant to the Credit Default Protection Agreement; 
 (e) The Agent shall cause all funds in excess of [****] in the
aggregate on deposit in the Operating Account to be swept to the Maintenance Account on a daily basis; 
 (f) The Agent shall prepare and
deliver to Victory Park (within sixty (60) calendar days after the end of the relevant quarter or, if the end of such quarter coincides with the end of a year, within one hundred twenty (120) calendar days after the end of such year), with
respect to ESPV, a draft balance sheet and statement of changes in shareholders’ equity as of the end of each quarter and year and draft statements of income and cash flows for such quarter and year, as applicable (“Draft
Accounts”); 
 (g) The Agent shall maintain, or monitor the maintenance of, the books, records, registers and associated filings of
ESPV required in the ordinary course of providing the Services including, without limitation, keeping accurate records of Purchases of Participation Interests by ESPV from time to time under the Participation Agreement and the Participation Interest
Purchase and Sale Agreement; 
 (h) The Agent shall procure, when Agent considers in good faith that it is appropriate or necessary to do
so, and coordinate the advice of, legal counsel, accounting, tax and other professional advisers, in each case acceptable to ESPV to assist ESPV in carrying out its obligations, and supervising, in accordance with instructions from ESPV, such legal
counsel and other advisers; 
 (i) The Agent shall pay or cause to be paid on behalf of ESPV, the Participation Percentage of any Servicing
Fees incurred by RB during the prior calendar month, in accordance with Section 4(a)(ii) of the Participation Agreement; 
 (j) The
Agent shall manage the Operating Account and Maintenance Account for and on behalf of ESPV, each of which shall be a segregated deposit account; 

(k) The Agent shall report to ESPV and Victory Park on a monthly basis no later than the tenth (10th) Business Day of each calendar month
with respect to (i) the distributions made pursuant to Section 2 of the Credit Default Protection Agreement during such calendar month, (ii) the amounts on deposit in the Operating Account as of the end of the immediately preceding
calendar month, and (iii) a summary of the deposits into and withdrawals from the Operating Account during the immediately preceding calendar month; 

(l) The Agent shall facilitate the compliance by ESPV of ESPV’s obligations under the Participation Agreement, the Participation Interest
Purchase and Sale Agreement and the Transaction Documents; 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (m) No later than the tenth
(10th) Business Day after the end of each calendar month, the Agent shall pay to Lender the Fixed Return; 

(n) The Agent shall cause ESPV to pay the Monthly Maintenance Fee and the Victory Park Syndication Management Fee to Victory Park or its
designee as required under the Financing Agreement; 
 (o) The Agent shall cause ESPV to pay the E@W Credit Risk Premium to E@W pursuant to
the Credit Default Protection Agreement or the Agent shall pursue E@W to pay the ESPV Credit Default Payment to ESPV pursuant to the Credit Default Protection Agreement; 

(p) The Agent shall pay or reimburse ESPV and its Affiliates the fees, costs and expenses required to be paid pursuant to
Section 8.2; and provide the tax gross-up, payments and indemnity required pursuant to Section 8.3; 
 (q) Upon
instruction and approval of ESPV, the Agent shall pay Lender any prepayment penalty or premiums associated with the prepayment of Credit Advances in accordance with the terms of the Financing Agreement; 

(r) The Agent shall assist ESPV in the preparation of its tax returns, if any, and/or file such tax returns on behalf of ESPV and shall pay on
behalf of ESPV any and all Taxes owing by ESPV; and 
 (s) The Agent shall promptly notify ESPV if it learns of consumer lending legislation
that is pending before the United States House of Representatives or the United States Senate which reasonably could be expected to negatively impact the profitability or legality of Agent’s business; 

(t) The Agent shall cause ESPV to provide to RB unaudited quarterly financial statements of ESPV not later than thirty (30) calendar days
after the end of each calendar quarter; 
 (u) The Agent shall assist and provide to the ESPV and information regarding the Holders of Notes
and payments on the Notes that is reasonably available to the Agent and may be necessary for compliance with FATCA, subject in all cases to confidentiality provisions. 

provided, however, that ESPV shall (i) retain ownership of the Ledgers and Draft Accounts, including retaining all discretionary decisions
and judgments relating to the preparation and maintenance thereof, and (ii) retain the right, in its sole and absolute discretion, to prohibit Agent from purchasing additional Participation Interests on behalf of ESPV. 

Section 2.3. Accounting Standards. Agent shall prepare the Draft Accounts in accordance with GAAP (without the footnotes to any
financial statements) which shall be reviewed by a “Big Four” or other nationally-recognized independent certified public accountant selected by Agent and reasonably acceptable to ESPV. ESPV hereby approves Agent’s selection of Grant
Thornton LLP as its independent certified public accountant for this purpose. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 Section 2.4. Agent Responsibility. The obligations of Agent are limited to those
matters that are expressly the responsibility of Agent in accordance with this Agreement. Notwithstanding the appointment of Agent to perform the Services and except as otherwise set forth herein, ESPV shall remain responsible for all matters and
decisions related to its business, operations, assets and liabilities. Other than this Agreement, Agent is not authorized or empowered to enter into any agreement, contract or other legally binding arrangement, in respect of or relating to the
business or affairs of ESPV. 
 Section 2.5. Agent Fees and Expenses. As compensation for the performance of the Services
hereunder, the Agent shall be entitled to receive the Agent Fee, which fee the Agent shall be entitled to withdraw from amounts on deposit in the Operating Account or the Maintenance Account, as applicable, on a monthly basis. Except as otherwise
expressly set forth herein, Agent shall bear all of its own costs and expenses in performing the Services. 
 Section 2.6.
Reserved. 
 Section 2.7. Funding of ESPV. Agent may provide written requests to Lender requesting that additional Credit
Advances be made into ESPV in accordance with the Financing Agreement (each, a “Funding Request”) as follows: Agent shall be entitled to make such Funding Request upon no less than (a) fifteen (15) calendar days prior
written notice if such proposed request is for a Credit Advance in an amount of $10,000,000 or less; and (b) thirty (30) calendar days prior written notice if such proposed request is for a Credit Advance in an amount greater $10,000,000.

 ARTICLE 3 
 STANDARD
OF PERFORMANCE; LIABILITY AND INDEMNITY 
 Section 3.1. Standard of Performance. Agent will devote the same amount of time,
attention and resources to and will be required to exercise the same level of skill, care and diligence in the performance of the Services hereunder as it would if it were administering such Services on its own behalf (the “Standard of
Performance”), but in no event less than that standard of service provided by similar advisors acting in good faith. 

Section 3.2. Liability and Indemnity. 

(a) Agent shall not be liable for any losses or taxes to or of, or payable by ESPV at any time from any cause whatsoever or any losses or
taxes directly or indirectly arising out of or in connection with or related to the performance by Agent of this Agreement unless such losses or taxes are the result of Agent’s own willful misconduct, gross negligence, deceit or fraud. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (b) Agent shall indemnify and hold harmless the ESPV Indemnified Parties for any Losses which
they may incur or be subject to as a result of or arising from: (i) the performance of the Services or any breach of this Agreement by Agent, (ii) the material inaccuracy of any representation or warranty made by Agent, (iii) any
failure of Agent to comply in respect of the ESPV Indemnified Parties’ obligations in connection with the Program or with any Requirements provided such obligations are to be satisfied by Agent in accordance with this Agreement, (iv) any
improper use or disclosure or unlawful use or disclosure of Customer Information by Agent, (v) any liability of the ESPV Indemnified Parties for any fees, costs, or other amounts due including damages or liquidated damages, arising out of any
contract with a third party service provider retained by Agent, and (vi) the ESPV Indemnified Parties’ indemnification obligations under the Participation Agreement to the extent such obligations arise from the Agent’s willful
misconduct, gross negligence, deceit or fraud in the performance of the Services; provided, however, that this indemnity shall not apply and Agent shall have no liability in respect of Losses to the extent that they arise from
(x) the willful misconduct, gross negligence, deceit or fraud of an ESPV Indemnified Party (as determined by a final non-appealable order of court of competent jurisdiction), (y) any action that an ESPV Indemnified Party requires Agent to
take pursuant to a direction but only to the extent that Agent takes such action in accordance with such direction and in accordance with the provisions hereof, or (z) a refusal by an ESPV Indemnified Party to take action upon a recommendation
made in good faith by Agent in accordance with the terms hereof. 
 (c) This Agreement contemplates that Agent shall receive the relevant
information from ESPV and/or Victory Park in order for Agent to make required credit and debit entries and to make the calculations and supply the information and reports required herein, and that Agent will do the foregoing to the extent such
information is so provided and on the basis of such information, without undertaking any independent verification or recalculation of such information. 

(d) The indemnity obligations set forth in this Section 3.2 shall survive the termination of this Agreement. 

ARTICLE 4 
 AGENT
UNDERTAKINGS 
 Section 4.1. Agent Undertakings. Agent shall: 

(a) if Agent receives any money which is required to be paid to or for the benefit of ESPV, Agent shall hold such money in trust for ESPV and
shall within three (3) Business Days thereafter remit the same into the Operating Account in accordance with the terms hereof without exercising any right of setoff; 

(b) comply with all Requirements in the performance of the Services; 

(c) make all payments required to be made by it at any time and from time to time pursuant to this Agreement, the Participation Agreement and
the other Transaction Documents on the required date for payment thereof; 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (d) observe all limited liability company formalities; 

(e) maintain proper records, books, accounts and minutes; 

(f) pay its obligations in the ordinary course of its business; 

(g) conduct its business in its own name; 

(h) not induce any third party to rely on the creditworthiness of ESPV in order that such third party will be induced to contract with it; and

 (i) subject to the Lender under the terms of the Financing Agreement making sufficient funds available, arrange for sufficient funds from
ESPV to be maintained on deposit in the Operating Account to purchase Participation Interests from time to time pursuant to the Participation Agreement and the Participation Interest Purchase and Sale Agreement. 

Section 4.2. Compliance Reviews and Audits. During the term of this Agreement and at all times thereafter, ESPV shall have
reasonable access to Agent’s offices, to the books and records of Agent (to the extent that such books and records pertain to the Services), to the officers, employees and accountants of Agent, and to the computer files containing copies of
documents relating to the Services, all for the purposes of ensuring that Agent is complying with its obligations under this Agreement. In addition, and not as a limitation of the foregoing, ESPV shall have the right, from time to time during the
term of this Agreement, to conduct audits and/or compliance reviews of Agent and the records generated hereunder; provided, that the exercise of such audit and review rights by ESPV shall be conducted during normal business hours in a manner
which does not unreasonably interfere with Agent’s normal business operations and customer and employee relations. 
 Section 4.3.
Representations and Warranties. Agent hereby makes the following representations and warranties to ESPV as of the date hereof and as of each date on which ESPV acquires a Participation Interest under the Participation Agreement and the
Participation Interest Purchase and Sale Agreement: 
 (a) Organization and Good Standing. Agent is a limited liability company duly
formed under the laws of Delaware, validly existing and in good standing under the laws of Delaware and has full power, authority and the legal right to own its properties and conduct its business as now conducted, and to execute, deliver and
perform its obligations under this Agreement and under each of the other Transaction Documents to which it is a party. 
 (b) Due
Qualification. Agent (i) is duly qualified to do business and is in good standing as a foreign limited liability company in each jurisdiction where such qualification is necessary in order to perform its duties hereunder and under each of
the other Transaction Documents to which it is a party, (ii) has obtained all licenses and approvals as required under federal and state law that are necessary to perform its duties hereunder and under each of the other Transaction Documents to
which it is a party and (iii) is in compliance with its organizational documents. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (c) Due Authorization; Enforceability. Agent has the full power and authority to execute
and deliver this Agreement and to perform its obligations hereunder and under each of the other Transaction Documents to which it is a party including, without limitation, the performance of the Services to be performed by it hereunder. The
execution, delivery and performance of this Agreement and the other Transaction Documents to which it is a party by Agent including, without limitation, the performance of the Services to be performed by it hereunder, has been duly authorized by all
necessary limited liability company action on its part and do not and will not contravene any provision of its organizational documents. Each of this Agreement and the other Transaction Documents to which it is a party has been duly executed and
delivered by Agent and constitutes the legal, valid and binding obligation of Agent, enforceable against Agent in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency,
moratorium and/or other similar laws and general equitable principles. 
 (d) No Conflict. The execution, delivery and performance by
Agent of this Agreement and each of the other Transaction Documents to which it is a party and the transactions contemplated hereby and thereby, including, without limitation, the performance of the Services to be performed by it hereunder, does not
violate, conflict with or result in a breach or default under (i) the organizational documents of Agent, (ii) any material federal, state or local law, rule or regulation applicable to Agent or (iii) any other material agreement or
other document to which Agent is a party or by which it or any of its property is bound. 
 (e) No Proceeding. There is no litigation
or administrative proceeding before any court, tribunal or governmental body presently pending or threatened against Agent which (i) if adversely determined, could reasonably be expected to result, either individually or in the aggregate, in a
Material Adverse Effect or (ii) questions the validity of this Agreement or any of the other Transaction Documents or any of the transactions contemplated hereby or thereby or any action taken or to be taken pursuant hereto or thereto,
including, without limitation, the performance of the Services to be performed by it hereunder. 
 (f) Criminal Matters; Tax Liens;
Proceedings and Judgments. Neither Agent nor any of its officers, directors, members or managers has been subject to any of the following: 

(i) criminal conviction (except minor traffic offenses and other petty offenses); 

(ii) federal or state tax liens for amounts which are past due and which are not being contested in good faith by appropriate proceedings for
which adequate reserves made in accordance with GAAP are being maintained; 
 (iii) administrative or enforcement proceedings commenced by
the Securities and Exchange Commission, any state securities regulatory authority, Consumer Financial Protection Bureau, Federal Trade Commission, federal or state bank regulator, or any other state or federal regulatory agency; or 

(iv) restraining order, decree, injunction, or judgment entered in any proceeding or lawsuit alleging fraud on the part of Agent or any
principal thereof. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (g) No Consents. Except as previously obtained by Agent prior to the date hereof, Agent is
not required to obtain any consent, authorization, approval, order, license, franchise, permit, certificate or accreditation of, or make any filing or registration with, any court, governmental agency or any regulatory or self-regulatory agency or
authority or any other Person in order for it to execute, deliver or perform any of its obligations under or contemplated by this Agreement or any of the other Transaction Documents to which it is a party, including, without limitation, the
performance of the Services to be performed by it hereunder, in each case in accordance with the terms hereof or thereof. 
 (h) Equity
Capitalization of Agent. All of the outstanding limited liability company membership interests of Agent have been duly authorized, validly issued and are owned by Elevate Credit. None of such limited liability company membership interests of
Agent is subject to preemptive rights or any other similar rights or any Liens or encumbrances and there are no outstanding options, warrants, scrips, rights to subscribe to, calls or commitments of any character whatsoever relating to, or
securities or rights convertible into, or exercisable or exchangeable for, any limited liability company membership interests of Agent. 

(i) Indebtedness and Contracts. Agent (i) has no Indebtedness, (ii) is not a party to any contract, agreement or instrument,
the violation of which, or default under which, by the other party(ies) to such contract, agreement or instrument could reasonably be expected to result in a Material Adverse Effect or (iii) is not in violation of any term of or in default
under any contract that could reasonably be expected to result in, either individually or in the aggregate, a Material Adverse Effect. 

(j) No Undisclosed Events, Liabilities, Developments or Circumstances. Except for the transactions contemplated by the Transaction
Documents, no event, liability, development or circumstance has occurred or exists, or is contemplated to occur with respect to Agent or its business, properties, prospects, operations or financial condition, that would reasonably be expected to
result, either individually or in the aggregate, in a Material Adverse Effect. 
 (k) Tax Status. Agent (i) has made or filed
all foreign, federal and state income and all other material tax returns, reports and declarations required by any jurisdiction to which it is subject, except where any failure to do so did not result in any material penalties to Agent,
(ii) has paid all taxes and other governmental assessments and charges shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and for which an adequate reserve has been established on
its books in accordance with GAAP and (iii) has set aside on its books adequate reserves in accordance with GAAP for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are
no unpaid taxes in any material amount claimed to be delinquent by the taxing authority of any jurisdiction (other than those being contested in good faith by appropriate proceedings promptly instituted and diligently conducted and subject to
adequate reserves taken by Agent as shall be required in conformity with GAAP), and the officers of Agent know of no basis for any such claim. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (l) Conduct of Business; Regulatory Permits. Agent is not in violation of any term of or
in default under its certificate of formation or operating agreement or other governing documents. Agent is not in violation of any judgment, decree or order or any statute, ordinance, rule or regulation applicable to Agent (i) purporting to
enjoin or restrain the execution, delivery or performance of this Agreement or any of the other Transaction Documents, or directing that the transactions provided for herein or therein not be consummated as herein or therein provided, or
(ii) to the extent any such violation would reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Agent possesses all material consents, authorizations, approvals, orders, licenses, franchises,
permits, certificates, accreditations and permits and all other appropriate regulatory authorities necessary to conduct its business, and Agent has not received any notice of proceedings relating to the revocation or modification of any such
consents, authorizations, approvals, orders, licenses, franchises, permits, certificates, accreditations or permits. Agent is in compliance with all laws, rules, regulations and ordinances of all applicable Governmental Authorities. 

(m) Foreign Corrupt Practices. Neither Agent nor any director, officer, agent, employee or other Person acting on behalf of Agent has,
in the course of its actions for, or on behalf of, Agent (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity, (ii) made any direct or indirect unlawful
payment to any foreign or domestic government official or employee from corporate funds (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended or (iv) made any unlawful bribe,
rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee. 
 (n)
Margin Stock. Agent is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the
proceeds from the Purchases will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying any margin stock, or for any purpose that violates, or is inconsistent with, the provisions of
Regulation T, U or X of the Board of Governors of the Federal Reserve System. 
 (o) Investment Company. Agent is not a
“registered investment company” or a company “controlled” by a “registered investment company” or a “principal underwriter” of a “registered investment company” as such terms are defined in the
Investment Company Act of 1940, as amended. 
 (p) Transactions With Affiliates. Except for transactions that have been entered into
on terms, taken as a whole, no less favorable to Agent than those that might be obtained at the time from a Person who is not an officer, director or employee, none of the officers, directors or employees of Agent is presently a party to any
transaction with Agent (other than for ordinary course services as employees, officers or directors), including any contract, 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 16 

 
agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any such
officer, director or employee or, to the knowledge of Agent, any corporation, partnership, trust or other entity in which any such officer, director, or employee has a substantial interest or is an officer, director, trustee or partner. 

(q) Insurance. Agent is insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as
are deemed prudent by Agent. Agent has not been refused any insurance coverage sought or applied for and Agent has no reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain
similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. 

(r) Disclosure. Notwithstanding any other provision of this Agreement or the other Transaction Documents, all disclosure provided to
ESPV regarding Agent, its business and properties, and the transactions contemplated hereby or thereby, including the Schedules to this Agreement, furnished by or on behalf of Agent, is true and correct in all material respects and does not contain
any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, taken as a whole and in the light of the circumstances under which they were made, not materially misleading. To its
knowledge, no event or circumstance has occurred or information exists with respect to Agent or any of its business, properties, prospects, operations or condition (financial or otherwise), which, under applicable law, rule or regulation, requires
public disclosure or announcement by Agent but which has not been so publicly announced or disclosed. 
 (s) Terrorism Laws. Agent is
in compliance, in all material respects, with all Terrorism Laws. 
 Section 4.4. Covenants. 

(a) Books and Records; Inspections. 

(i) Agent will (A) keep adequate books of record and account in which full, true and correct entries are made of all dealings and
transactions in relation to the Services and (B) permit any representatives designated by ESPV or its Affiliates (including employees of ESPV or its Affiliates or any consultants, accountants, lawyers and appraisers retained by ESPV or its
Affiliates) to visit and inspect any of the properties of Agent to inspect, copy and take extracts from its and their financial and accounting records, and to discuss its and their affairs, finances and accounts with its and their officers and
independent accountants, all upon reasonable prior written notice and at such reasonable times during normal business hours (so long as no Event of Default (or event or circumstance that, with the passage of time, the giving of notice, or both,
would become an Event of Default) has occurred and is continuing) and by this provision Agent authorizes such accountants to discuss with ESPV or its Affiliates and such representatives the affairs, finances and accounts of Agent; provided,
that ESPV may only exercise its rights pursuant to this Section 4.4(a)(i) once every six (6) months unless an Event of 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 17 

 
Default has occurred and is continuing (in which case no such limitations shall apply). Agent acknowledges that ESPV and its Affiliates, after exercising their rights of inspection, may prepare
certain reports pertaining to Agent’s assets for internal use by ESPV. After the occurrence and during the continuance of any Event of Default, subject to applicable law, Agent shall provide ESPV and its Affiliates with access to its customers
and suppliers. 
 (ii) If ESPV receives any Nonpublic Personal Information (as defined in the GLBA) of Account Debtors (as defined in the
GLBA) that is covered by Title V of the Gramm-Leach-Bliley Act (“GLBA”) (15 U.S.C. §§6801-09), ESPV shall not disclose such information except as allowed under GLBA and shall safeguard such information as required by GLBA.

 (iii) If ESPV receives any Nonpublic Personal Information of Account Debtors and if, to ESPV’s knowledge, there has been a material
disclosure of such Nonpublic Personal Information in ESPV’s possession to third parties without ESPV’s express or implied authorization, then ESPV shall notify Agent of such event. For the avoidance of doubt, this covenant is not for the
benefit of any Person other than Agent and is not intended to expand ESPV’s duty to safeguard Nonpublic Personal Information beyond those set forth in this Agreement or any other Transaction Document. 

(iv) Notwithstanding the foregoing, neither ESPV, nor any of its Affiliates or any of their respective officers, partners, directors,
employees or agents shall be liable to Agent or any other Person for any action taken or omitted to be taken by ESPV under Sections 4.4(a)(ii) and (iii) (including the failure to notify Agent or any other Person of any information
required to be disclosed to Agent or any other Person under Sections 4.4(a)(ii) and (iii)). 
 (b) Compliance with
Laws. Agent shall comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority. Agent shall take all reasonable and necessary actions to ensure that no portion of the
proceeds from any Purchases will be used, disbursed or distributed for any purpose, or to any Person, directly or indirectly, in violation of any of the Terrorism Laws and shall take all reasonable and necessary action to comply in all material
respects with all Terrorism Laws with respect thereto. 
 (c) Affiliate Transactions. Agent shall not, directly or indirectly, enter
into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of Agent, unless such transaction is on terms that are no less favorable to Agent, than
those that might be obtained at the time from a Person who is not an Affiliate and are fully disclosed in writing to ESPV prior to consummation thereof. 

(d) Existence and Maintenance of Properties. Agent shall maintain and preserve its (i) existence and good standing in the
jurisdiction of its organization and (ii) qualification to do business and good standing in each jurisdiction where the nature of its business makes such qualification necessary (other than such jurisdictions in which the failure to

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 18 

 
be so qualified or in good standing could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect). Agent shall maintain or cause to be maintained
in good repair, working order and condition, ordinary wear and tear excepted, all material properties used or useful in the business of Agent, as applicable, and from time to time will make or cause to be made all appropriate repairs, renewals and
replacements thereof. 
 (e) Modification of Organizational Documents. Without the prior written consent of ESPV, Agent shall not
permit its certificate of formation, operating agreement or other organizational documents to be amended or modified in any respect that could reasonably be expected to be adverse to the interests of ESPV or its Affiliates. 

(f) Privacy; Security of Customer Information. Agent, on behalf of ESPV, shall: 

(i) implement an effective security program to protect nonpublic Customer Information received with respect to any Borrower, customer or
consumer; 
 (ii) implement and maintain administrative, technical and physical safeguards designed to ensure the security of Customer
Information pursuant to the Requirements; 
 (iii) respond promptly and thoroughly to any requests for information concerning the
respective information security measures implemented by ESPV; and 
 (i) ensure that any program created under this clause (f) is in
compliance with the Requirements. 
 Section 4.5. Purchase of Participation Interests. Agent shall not use funds in the
Operating Account to purchase Participation Interests unless the applicable purchase of the Participation Interests was approved by ESPV in its sole and absolute discretion. 

ARTICLE 5 
 UNDERTAKINGS
OF ESPV 
 Section 5.1. Cooperation. ESPV shall cooperate with Agent to enable Agent to provide the Services. 

Section 5.2. Information. ESPV will provide Agent with the following information in respect of itself: 

(a) copies of all relevant documents, including its registration documents, and copies of all books and records maintained on behalf of ESPV;

 (b) details of all bank accounts and bank mandates maintained by ESPV; 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (c) name of and contact information of the officers and directors of ESPV; and 

(d) such other information as is reasonably requested by Agent and is reasonably necessary to Agent’s performance of the Services. 

Section 5.3. Scope of Services. If ESPV shall enter into any agreement, amendment or other modification or shall take any other
action that has the effect of increasing in any material respect the scope, nature or level of the Services to be provided under this Agreement without Agent’s express prior written consent, then ESPV shall so notify Agent and Agent shall not
be obligated to perform the affected Service to the extent of such increase unless and until Agent and ESPV shall agree on the terms of such increased Service (it being understood that (i) Agent shall have no liability to ESPV directly or
indirectly arising out of, in connection with or related to Agent’s failure to perform such increased Service prior to any such agreement and (ii) ESPV shall not be permitted to engage another Person to perform the affected Service without
the prior written consent of Agent unless Agent has indicated it is unable or unwilling to act in respect of the affected Service or Agent requires additional compensation for such additional Service that is not acceptable to ESPV). 

Section 5.4. Ratification. ESPV ratifies and confirms, and agrees to ratify and confirm (and shall furnish written evidence
thereof upon request of Agent), any act or omission by Agent in accordance with this Agreement in the exercise of any of the powers or authorities conferred upon Agent under this Agreement, it being expressly understood and agreed that ESPV shall
not have any obligation to ratify and confirm, and expressly does not ratify and confirm, any act or omission of Agent in violation of this Agreement, the Standard of Performance or for which Agent is obligated to indemnify ESPV. 

Section 5.5. Covenants. ESPV shall conduct its business such that it is a separate and readily identifiable business form, and
independent of, the Agent and shall also: 
 (a) observe all corporate or statutory trust formalities, as applicable, necessary to remain a
legal entity separate and distinct from, and independent of, Agent and any of its Affiliates; 
 (b) maintain its assets and liabilities
separate and distinct from those of Agent; 
 (c) maintain records, books, accounts, and minutes separate from those of Agent; 

(d) pay its obligations in the ordinary course of business as a legal entity separate from Agent; 

(e) keep its funds separate and distinct from any funds of Agent, and receive, deposit, withdraw and disburse such funds separately from any
funds of Agent; 
 (f) conduct its business in its own name, and not in the name of Agent; 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 (g) not agree to pay or become liable for any debt of Agent, other than as may be required by
this Agreement; 
 (h) not hold out that it is a division of Agent, or that Agent is a division of it; 

(i) observe all material corporate, trust or other procedures, as applicable, required under applicable law and under its constitutive
documents; and 
 (j) observe all material corporate or trust formalities, as applicable, necessary to keep its business separate and
readily identifiable from any third party. 
 ARTICLE 6 

TERM AND TERMINATION 

Section 6.1. Term. This Agreement shall commence on the date hereof and shall terminate upon the earliest of: (i) the final
payment or other liquidation of the last outstanding Participation Interest and the remittance of all funds due hereunder; (ii) by mutual consent of Agent and ESPV in writing, or (iii) if a Termination Event (or an event or circumstance
that, with the passage of time, the giving of notice, or both, would become a Termination Event) has occurred and is continuing, upon ESPV’s giving not less than ten (10) calendar days’ prior written notice to Agent; provided, if the
Termination Event is caused by clause (d) of such definition, such termination shall be automatic without the required provision of any notice. 

Section 6.2. Agent Resignation. With the prior written consent of ESPV, Agent may resign from the obligations and duties hereby
imposed on it upon ninety (90) calendar days’ prior written notice to ESPV. If ESPV, despite its commercially reasonable efforts, is unable to obtain a replacement to fulfill the obligations and duties imposed on Agent by this Agreement,
ESPV may, upon not less than thirty (30) calendar days’ prior written notice to Agent, obligate Agent to delay its resignation and fulfill the obligations and duties imposed on Agent by this Agreement until a replacement is obtained. Upon
such resignation and no successor having been appointed, ESPV shall not make any Purchases. In connection with any resignation of Agent pursuant to this Section 6.2 or termination of this Agreement, the parties shall cooperate with each
other in effectuating the transfer of the duties of Agent hereunder, and Agent shall deliver to ESPV or its designees, any information or files in its possession relating to the Services as of the date of effectiveness of Agent’s resignation;
provided, for the avoidance of doubt, any costs, fees and expenses associated with the Agent’s resignation under this Section 6.2 shall be borne solely by the Agent. 

Section 6.3. Survival. Notwithstanding any termination or the expiration of this Agreement, the obligations of ESPV and Agent
under Section 3.2 and any reimbursement or indemnity obligations that have accrued prior to such date shall survive such termination or expiration. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 ARTICLE 7 

ASSIGNMENT AND DELEGATION 

Section 7.1. Assignment and Delegation. No Party shall assign, delegate or otherwise subcontract this Agreement or all or any part
of its rights or obligations hereunder to any Person without the prior written consent of the other Party; provided, however, that upon the occurrence of a Termination Event that is not cured within any applicable cure periods, ESPV
shall have the right to immediately assign this Agreement and Agent’s rights under this Agreement to another party acceptable to ESPV to assume any or all of Agent’s rights and duties under this Agreement, provided that such assignment
shall not relieve Agent of any of its obligations hereunder. This Agreement does not confer any right or benefit on any Person other than the Parties and their successors and permitted assigns. 

ARTICLE 8 
 COSTS AND
EXPENSES; TAXES 
 Section 8.1. General Expenses. Except as expressly set forth in Sections 3.2 and 8.2, no
Party shall be responsible for any other Party’s costs, expenses, liabilities and disbursements incurred or paid in connection with this Agreement or matters relating to or arising therefrom. 

Section 8.2. Reimbursable Expenses. Agent shall (i) reimburse ESPV and its Affiliates on demand for all reasonable costs and
expenses, including, without limitation, legal expenses and reasonable attorneys’ fees (whether for internal or outside counsel), incurred by ESPV or such Affiliates in connection with the (a) negotiation, documentation, consummation and
modification of the transactions contemplated hereunder and under each of the other Transaction Documents; (b) collection, protection or enforcement of any rights in or to the Participation Interests; (c) administration and enforcement of
ESPV’s or such Affiliates’ rights under this Agreement and under each of the other Transaction Documents (including, without limitation, any costs and expenses of any third party service provider engaged by ESPV or such Affiliates for such
purposes); (d) refinancing or restructuring of the terms of this Agreement or any of the other Transaction Documents whether in the nature of a “work out,” in any insolvency or bankruptcy proceeding or otherwise, and whether or not
consummated; (e) assignment, transfer or syndication of the Participation Interests; and (f) registers maintained in connection with the Participation Agreement and (ii) indemnify ESPV and its Affiliates from and against all liability
for any intangibles, documentary, stamp or other similar taxes, fees and excises, if any, including any interest and penalties, and any finder’s or brokerage fees, commissions and expenses (other than any fees, commissions or expenses of
finders or brokers engaged by ESPV or its Affiliates), that may be payable in connection with the terms of this Agreement and/or the other Transaction Documents. Agent shall also pay all normal service charges with respect to all accounts maintained
and transfers made by Agent on behalf of ESPV pursuant to this Agreement. Notwithstanding anything to the contrary in this Agreement, so long as no Event of Default has occurred and is continuing, in no event shall Agent’s liability pursuant to
Sections 8.2(i)(b)-(g) for expenses other than legal services exceed [****] per year. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 Section 8.3. Taxes. 

(a) All payments to be made to Lender, Victory Park or ESPV (each, a “Payee”) hereunder and under any other Transaction
Document shall be made, free and clear of and without deduction for any and all current or future Taxes, levies, imposts, deductions, charges or withholdings that are or would be applicable to such Payee, and all liabilities with respect thereto,
excluding net income taxes imposed on the net income of such Payee by the jurisdiction under the laws of which such Payee is organized (all such nonexcluded taxes, levies, imposts, deductions, charges, withholdings and liabilities, collectively or
individually, as well as, in respect of ESPV, any and all U.S. federal, state and local Taxes, being called “Non-Excluded Taxes”). If any Non-Excluded Taxes are required to be withheld from or in respect of any sum payable hereunder
or under any other Transaction Document to a Payee, (x) the sum payable shall be increased by the amount (an “Additional Amount”) necessary so that, after making all required deductions (including deductions applicable to
additional sums payable under this Section 8.3), such Payee shall receive an amount equal to the sum it would have received had no such deductions been made, (y) Agent shall make such deductions and (z) Agent shall pay the full
amount deducted to the relevant Governmental Authority in accordance with applicable law. 
 (b) Agent will pay to the relevant Governmental
Authority in accordance with applicable law any current or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies that arise from any payment made hereunder or under any other Transaction Document or from
the execution, delivery or registration of, or otherwise with respect to, this Agreement or any other Transaction Document that are or would be applicable to a Payee (“Other Taxes”). 

(c) Agent agrees to indemnify each Payee for the full amount of Non-Excluded Taxes and Other Taxes and any liability (including penalties,
interest and expenses (including reasonable attorney’s fees and expenses)) arising therefrom or with respect thereto, whether or not such Non-Excluded Taxes or Other Taxes were correctly or legally asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability prepared by a Payee shall, absent manifest error, be final conclusive and binding for all purposes. Such indemnification shall be made within thirty (30) calendar days after
the date a Payee makes written demand therefor. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 ARTICLE 9 

MISCELLANEOUS 

Section 9.1. Notices. Except as otherwise expressly provided herein, any and all notices required or agreed to be given pursuant
hereto shall be in writing and shall be deemed to have been properly given, served and received (a) if delivered by messenger, when delivered, (b) if mailed, on the third (3rd) Business Day after deposit in the United States mail
certified, postage prepaid, return receipt requested, (c) if by facsimile or e-mail, upon sender’s transmission or (d) if delivered by reputable overnight express courier, freight prepaid, the next Business Day after delivery to such
courier. Notices shall be addressed to the Parties as set forth below: 
 If to ESPV: 

 

			
	Elastic SPV, Ltd.
	c/o Maples and Calder
	P.O. Box 1093
	Boundary Hall, Cricket Square
	Grand Cayman, KY1-1102
	Cayman Islands
	Telephone:	  	(345) 814-5710
	Attention:	  	Andrew Dean, Senior Vice President
	E-Mail:	  	Andrews.Dean@maplesfs.com
	
	With a copy (for informational purposes only) to:
	
	Katten Muchin Rosenman LLP
	525 West Monroe Street
	Chicago, Illinois 60661
	Telephone:	  	(312) 902-5297 and (312) 902-5495
	Facsimile:	  	(312) 902-1061
	Attention:	  	Mark R. Grossmann, Esq. and Scott E. Lyons, Esq.
	E-Mail:	  	mg@kattenlaw.com
		  	scott.lyons@kattenlaw.com
	
	If to Agent:
	
	Elevate@Work Admin, LLC
	4150 International Plaza, Suite 400
	Fort Worth, Texas 76109
	Attention:	  	Chief Executive Officer
	Facsimile:	  	817-546-2700
	E-Mail:	  	krees@elevate.com
	
	With a copy (for informational purposes only) to:
	
	Alston & Bird LLP
	2828 North Harwood Street, Suite 1800
	Dallas, Texas 75201
	Telephone:	  	(214) 922-3405
	Facsimile:	  	(214) 922-3899
	Attention:	  	Mark W. Harris, Esq.
	E-Mail:	  	mark.harris@alston.com

 The Parties may change their addresses for notice by serving written notice upon all other Parties. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 Section 9.2. Execution in Counterparts. This Agreement may be executed in any number
of counterparts and by the Parties on separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed an original and all of which counterparts, taken together, shall constitute but one and the same agreement. A
copy of an executed signature page to this Agreement delivered by any Party via facsimile or by other electronic means shall be deemed effective on the date of such delivery. 

Section 9.3. Governing Law. This Agreement shall be a contract made under, and governed and enforced in every respect by, the
internal laws of the State of New York, without giving effect to its conflicts of law principles other than §5-1401 and 5-1402 of the New York General Obligations Law. Any dispute, controversy, or claim, whether contractual or non-contractual,
between the Parties arising directly or indirectly out of or connected with this Agreement, including claims for declaratory relief, or relating to the breach or alleged breach of any representation, warranty, agreement, or covenant under this
Agreement, unless mutually settled by the Parties and including the determination of the scope or applicability of this Agreement to arbitrate, shall be determined by arbitration in the Borough of Manhattan, New York. The arbitration shall be
administered by JAMS pursuant to its (Comprehensive Arbitration Rules and Procedures). Judgment on the award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of
arbitration from a court of appropriate, except that the Parties agree that the arbitration, the arbitrators’ authority and the relief available shall be limited as follows: 

(a) The arbitrators shall be obligated to apply the rules of evidence and the substantive laws of the State of New York applicable to actions
litigated in the federal courts of the State of New York; and 
 (b) The arbitrators shall be deemed to have exceeded their powers,
authority or jurisdiction if the award they render is not correct under the applicable law and properly admitted evidence, if the arbitrators grant relief not expressly permitted under this Agreement or if the arbitrators otherwise fail to comply
with the terms and limitations of this paragraph. In the event of any conflict between the rules of JAMS and this Agreement, this Agreement will control. Any arbitration shall be conducted by arbitrators approved by the JAMS and mutually acceptable
to the Parties. All such disputes, controversies, or claims shall be conducted by a single arbitrator, unless the dispute involves more than $50,000 in the aggregate in which case the arbitration shall be conducted by a panel of three arbitrators.
If the Parties are unable to agree on the arbitrator(s), then JAMS shall select the arbitrator(s). The resolution of the dispute by the arbitrator(s) shall be final, binding, nonappealable, and fully enforceable by a court of competent jurisdiction
under the Federal Arbitration Act. The arbitration award shall be in writing and shall include a statement of the reasons for the award. The arbitrator(s) shall award reasonable attorneys’ fees and costs to the prevailing party. Process in any
such action may be served upon any Party in the manner provided for giving of notices to it herein. Notwithstanding the foregoing, the Parties hereby consent to the jurisdiction of the state and federal courts located in the Borough of Manhattan,
New York with respect to any action (i) to obtain injunctive or other equitable relief and (ii) to enforce or dispute any arbitration award or to obtain, enforce or dispute any judgment relating thereto. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
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 Section 9.4. Severability of Provisions. Any provision of this Agreement which 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 hereof or affecting the validity or enforceability of
such provision in any other jurisdiction. 
 Section 9.5. Complete Agreement. This Agreement, together with the agreements
referenced herein, constitutes the complete agreement between the Parties with respect to the specific subject matter hereof and supersede all existing agreements and all oral, written, or other communications between the Parties concerning its
subject matter. The Parties make no representations or warranties to each other, except as specifically set forth in or specified by this Agreement and the other Transaction Documents. All prior representations and statements made by any Party or
its representatives, whether verbally or in writing, are deemed to have been merged into this Agreement. 
 Section 9.6. Waivers and
Amendments. No delay on the part of a Party in the exercise of any right, power or remedy shall operate as a waiver thereof, nor shall any single or partial exercise by such Party of any right, power or remedy preclude other or further exercise
thereof, or the exercise of any other right, power or remedy. No amendment, modification or waiver of any provision of this Agreement shall be effective unless in writing and signed by the Parties. 

Section 9.7. References to Sections and Agreement; Captions. Unless otherwise indicated either expressly or by context, any
reference in this Agreement to a “Section” shall be deemed to refer to a Section of this Agreement. All references herein to this Agreement shall, as of any time after the date hereof, be deemed to include all amendments hereto which have
been made prior to such time in accordance with Section 9.6. Section captions, headings and titles used in this Agreement are for convenience only, and shall not affect the construction of this Agreement. 

Section 9.8. Jurisdiction, Venue and Service of Process. Subject to the provisions of Section 9.3, the Parties hereby
consent to the exercise of jurisdiction over its person and its property by any court of competent jurisdiction situated in the City of Wilmington, Delaware (whether it be a court of the State of Delaware or a court of the United States of America
situated in Wilmington, Delaware) for the enforcement of this Agreement or in any other controversy, dispute or question arising hereunder, and each Party hereby waives any and all personal or other rights to object to such jurisdiction for such
purposes. Each Party, for itself and its successors and assigns, hereby waives any objection which it may have to the laying of venue of any such action or suit at any time, each Party agrees that service of process may be made, and personal
jurisdiction over such Party obtained, by service of a copy of the summons, complaint and other pleadings required to commence such litigation by personal delivery or by United States certified or registered mail, return receipt requested, addressed
to such Party at its address for notices as provided in this Agreement. Each Party waives all claims of lack of effectiveness or error by reasons of any such service. 

Section 9.9. Confidentiality. All oral and written information about each of the Parties, their respective businesses and
customers, and this Agreement (collectively, the “Records”), are 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 26 

 
valuable and proprietary assets. Each Party (and each of their respective employees and agents) shall treat the Records as strictly confidential and, except as expressly authorized hereunder,
will not disclose such Records to any Person (other than its Affiliates and, in the case of ESPV, to proposed transferees of the Participation Interests and in connection with the exercise of any right or remedy under this Agreement) or use such
Records other than in accordance therewith. Each Party will use its best efforts to ensure that its employees and agents maintain such confidentiality. Each Party will notify the other Parties immediately upon receiving a subpoena or other legal
process about any other Party’s Records and will cooperate with the other Parties to comply with or oppose the subpoena or legal process. This Section 9.9 will not apply to information, documents, and material that are in or enter
the public domain other than through a wrongful act or omission of a Party. 
 Section 9.10. Jury Waiver. EACH PARTY HEREBY
WAIVES ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR
STATUTORY CLAIMS. THE PARTIES EACH REPRESENT TO EACH OTHER THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS
AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL WITHOUT A JURY. 
 Section 9.11. Compliance with Law and Regulation. The
performance of each of the Parties under this Agreement is subject to all applicable Requirements and any Regulatory Authority and each Party hereby covenants to comply with all applicable Requirements and the lawful and reasonable actions or
requests of duly authorized Regulatory Authorities in connection with the matters contemplated by this Agreement. If any Party becomes aware of any change in any Requirement affecting the performance of obligations by any Party under this Agreement,
it shall promptly thereafter provide written notice of the same to the other Parties, provided that the failure to provide such notice shall not relieve any Party of its obligation to comply with all applicable Requirements as may change from time
to time. Nothing in this Agreement shall be construed as compelling any Party to act in violation of any applicable Requirements. 

Section 9.12. Survival. Except as otherwise expressly provided herein, all the representations, warranties, terms and covenants of
the Parties including, but not limited to, expense reimbursements and indemnifications, shall survive the termination of this Agreement. 

Section 9.13. Power of Attorney. ESPV shall appoint Agent as its true and lawful attorney-in-fact solely with regard to all
Services to be performed and actions to be taken by Agent pursuant to this Agreement. Agent shall be entitled to seek and obtain from ESPV a power of attorney in respect of the execution of any specific action as Agent deems appropriate.
Notwithstanding anything herein to the contrary, Agent shall not take any action, and shall not be authorized to take any action, that would result in ESPV or any of its owners to be deemed to be engaged in the conduct of trade or business within
the United States for purposes of Sections 864, 871 or 882 of the Code. 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 27 

 Section 9.14. No Partnership. 

(a) It is expressly recognized and acknowledged that this Agreement is not intended to create a partnership, joint venture or other similar
arrangement among ESPV or any of its equity holders or trustees, on the one hand, and Agent on the other. It is also expressly understood that any actions taken on behalf of ESPV by Agent shall be taken as agent for ESPV either naming ESPV, or
naming Agent as agent for an undisclosed principal. ESPV shall not hold itself out as a partner of Agent, and Agent will not hold itself out as a partner of ESPV. 

(b) Agent shall not have any fiduciary duty or other implied obligations to ESPV or any other Person arising out of this Agreement. 

Section 9.15. No Third Party Beneficiaries. This Agreement is intended for the benefit of the Parties and their respective
permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person; provided, the ESPV Indemnified Parties, Lender and Victory Park shall be deemed to be third party beneficiaries for
purposes of Sections 3.2(b) and 8.3. 
 Section 9.16. Tax Matters. This Agreement is registered as to any and all
payments hereunder. The transfer by ESPV of this Agreement to permitted assigns or any of its rights hereunder may be effected only by surrender of this Agreement and (i) the reissuance by Agent of this Agreement to the assignee or
(ii) the issuance by Agent of a new Agreement to the assignee. The transfer of this Agreement at any time by any means other than the methods described in this paragraph shall be deemed void and ineffective. The Agent may treat the Person in
whose name this Agreement is registered as the owner hereof for the purposes of receiving or making any payment and for all other purposes, and the Agent shall not be affected by any notice to the contrary. 

Section 9.17. Limited Recourse and Non-Petition. Agent shall have recourse only to the net assets of ESPV (other than any
Collateral excluded pursuant to Section 2.1 of the Security Agreement) (the “ESPV Assets”) following the realization of Collateral in accordance with the terms of the Security Agreement. If the proceeds following the
realization of such ESPV Assets (the “Net Proceeds”) are insufficient to discharge all payments which, but for the effect of this clause, would then be due and payable to Agent hereunder (the “Amounts Due”), the
obligations of ESPV to Agent hereunder shall be limited to the amounts available from the Net Proceeds and no debt shall be owed to Agent by ESPV for any further sum. Agent shall not take any action or commence any proceedings against ESPV to
recover any Amounts Due except as expressly permitted by the provisions of this Agreement. Agent shall not take any action or commence any proceedings or petition a court for the liquidation of ESPV, nor enter into any arrangement, reorganisation or
insolvency proceedings in relation to ESPV whether under the laws of the Cayman Islands or other applicable bankruptcy laws until after the later to occur of the payment of all of the Amounts Due or the application of all of the Net Proceeds. Agent
hereby 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 28 

 
acknowledges and agrees that the ESPV’s obligations under this Agreement are solely the corporate obligations of ESPV, and that Agent shall not have any recourse against any of the
directors, officers or employees of ESPV for any claims, losses, damages, liabilities, indemnities or other obligations whatsoever in connection with any transactions contemplated by this Agreement. 

[Signature Page Follows] 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

  
 29 

 IN WITNESS WHEREOF, this Agreement has been duly executed as of the date first written above. 

 

			
	ELASTIC SPV, LTD.
		
	By:	 	 /s/ Andrew Dean

	Name:	 	Andrew Dean
	Title:	 	Director
	
	ELEVATE@WORK ADMIN, LLC
		
	By:	 	 /s/ Kenneth E. Rees

	Name:	 	Kenneth E. Rees
	Title:	 	President and CEO

 [Signature Page to Administrative Services Agreement] 

  
 [****] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.

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