Document:

exv10w34

Exhibit 10.34

EXECUTION COPY

MARKETING AGREEMENT

     Dated
this 19th day of May, 2010, by and between Imperial Litigation Funding, LLC a
Florida limited liability company with a principal place of business located at 701 Park of
Commerce Blvd, Suite 301, Boca Raton Florida 33487, (hereinafter “Originator”) and Plaintiff
Funding Holding Inc. d/b/a LawCash, a Delaware corporation, with a principal place of business
located at 26 Court Street, Suite 1104, Brooklyn, New York 11242 (hereinafter “Funder”).

	 	1.	 	Business of Originator and Funder. Originator is in the business of purchasing
structured settlement payments arising out of personal injury lawsuits. In the course of
such business, Originator has access to, and is in the position to develop, leads for
pre-settlement funding opportunities. Funder is in the business of pre-settlement funding.
	 
	 	2.	 	Leads and Underwriting. Originator agrees that it will on an exclusive basis forward to
Funder all leads it receives from any source (subject to Section 5 hereof) for
pre-settlement funding opportunities (“Leads”). Subject to Section 6 hereof, information
regarding Leads forwarded to Funder shall include: (a) name of claimant. (b) telephone
number of claimant, (c) and address of, claimant. Funder will evaluate all such Leads for
which it actually receives an application in accordance with the standard underwriting
parameters and procedures utilized by Funder (at the time the Leads are received by Funder)
in the regular course of Funder’s business of funding pre-settlements. All funding
decisions shall be in the sole discretion of the Funder. Upon full execution of this
Agreement, Funder shall provide to Originator a full copy of Funder’s underwriting and
pricing information. Funder will utilize its standard documentation in connection with any
Lead.
	 
	 	3.	 	Payment on Origination.Upon the actual funding of any Lead Funder shall pay
to Originator an Origination Fee of five percent (5%) of the actual funded amount (the”
Origination Fee”). In the case of multiple fundings to the same claimant, the Origination
Fee shall be payable only against the amount funded that is in excess of the funded amount
of the prior funding.
	 
	 	4.	 	Payment on Funding. When a Funder receives payment in full on a Lead on which
the Origination Fee has been paid, Funder shall pay to the Originator an amount equal to
twenty-five percent (25%) of Funder’s s Net Profit, as defined in Section 8 . hereof.
	 
	 	5.	 	Leads from New Clients. A Lead received by Funder from Originator from an
attorney or a law firm that at the time of the submission of the Lead was not a current or
client of Funder, such firm shall be deemed a “LawCash/Imperial” client. Any funding
arising from a Lead from a LawCash/Imperial client shall be subject to the payment
required by Funder to Originator as described in Sections 3 and 4 hereof.
	 
	 	6.	 	Submission and Servicing of Leads. Funder shall be responsible for monitoring
and collection services on all funded Leads in a manner consistent with Funder’s regular
and ordinary business practices. Upon referral to Funder of a Lead, all further
communication

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EXECUTION COPY

	 	 	 	with clients and their attorneys shall be done exclusively by Funder. Notwithstanding the
foregoing, and in accordance with Section 2 hereof, upon Originator’s request, Funder shall
provide Originator with all appropriate pre-qualification questions and materials which may
be used by Originator in the collection of Lead information.
	 
	 	7.	 	Marketing/ Advertising/Servicing. Originator may market for Leads by utilizing
its own name, trademark and business relationships. All such marketing, including but not
limited to advertising costs, shall be at Originator’s sole cost and expense. It will be in
the Originator’s sole discretion how it will market, advertise and generally utilize its
business relationship in accordance with this Section 7.
	 
	 	8.	 	Calculation of Net Profit. For purposes of Section 4 hereof , the term //Net
Profit, shall be defined as: (a) collection by Funder of payment in full to Funder under
the Funding Agreement between Funder and the client, if any, minus (a) application and case
monitoring fees, Origination Fees, funding costs to Funder and (d)[under and any
Extraordinary Costs in the collection of said funds Extraordinary Costs shall include,
without limitation, attorneys fees and other costs of collections actually incurred by
Funder. In the event Funder uses its house counsel to seek collection of funds, Funder may
include a reasonable amount for such services in the calculation of Net Profit. It is
understood that Extraordinary Costs are incurred only when client’s attorney or the client
is uncooperative in paying sums due under the client Funding Agreement and steps outside
the ordinary collection process require additional action be taken to collect any such
funds.
	 
	 	9.	 	Reports. Funder shall provide monthly reports to Originator on the first day of
each month during this agreement is in force.. These reports will include all (a) a list of
all Leads provided by Originator since the prior month’s report (b) a list of all new
fundings resulting from such Leads, including funding, resulting from such Lead (c) the
amounts of any Origination Fees due to Originator from such Leads; (d) a list of all Leads
that have been paid in full together with the Net Profit thereon and the Originator’s share
thereof;(1) a list of all “LawCash/Imperial” funded cases that have been funded and paid in
full together with the Net Profits calculated thereon and the Originator’s share thereof;
in accordance with Section 4 hereof and (ii) a full list of all client fundings on which
Originator was paid an Origination Fee but have not yet funded or which are designated as
“LawCash/Imperial” cases, [together with their present accrued value.] The item described
in Section 9 (d)(ii) shall be inclusive of all open fundings which are the subject of this
Agreement.
	 
	 	10.	 	Payment by Funder to Originator. Within ten (10) days of the issuance of such
monthly report as described in Section 9 hereof, Funder shall pay all sums presently due as
evidenced by said monthly report. Such payment shall be made in a manner agreed to at the
mutual convenience of the parties hereto.
	 
	 	11.	 	Term and Termination. On or after the ninetieth (90th) day from the
date of this Agreement, this Agreement may be terminated by either party upon thirty (30)
days’ written notice to the other (the “Notice Period”). Originator shall be entitled to
receive

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EXECUTION COPY

	 	 	 	all monies due in respect of Origination Fees and fundings resulting from Leads hereunder
due to Originator during the term hereof, including the Notice Period whenever collected
and Funder shall continue to provide to Originator the monthly reports required by Section 9
hereof until all monies due and owing to Originator are paid in full. Originator shall have
no rights with respect to any “Imperial/LawCash” attorneys, except for already funded
matters, upon the termination of the Agreement. Notwithstanding the foregoing, the parties
hereto may pursue pre-settlement funding leads with such attorneys.
	 
	 	12.	 	Referrals By Originator After Termination. Originator shall not be be
prohibited from referring to any party Leads after the termination of this Agreement in
accordance with Section 11. Unless terminated prior thereto in accordance Section 11
hereof, this Agreement shall be in effect for one (1) year from the date hereof... In the
event this Agreement is terminated by Funder, Originator may commence making referrals to
any party at any time during the Notice Period.
	 
	 	13.	 	Indemnification. Each party hereto agrees to indemnify the other and all of
their respective officers, agents and employees from and against all damages, losses,
claims, judgments, taxes, liabilities and resulting costs and expenses, including
attorneys’ fees and disbursements, awarded against either party arising out of this
Agreement.
	 
	 	14.	 	Situs and Venue. This Agreement shall be construed under the laws of the State
of New York. Jurisdiction and venue for any dispute arising hereunder or related hereto
shall be exclusively in the federal or state courts of New York and if state court, venue
in and for the County of Kings.
	 
	 	15.	 	Entire Agreement. This constitutes the entire agreement between the parties and
may be modified only in writing and signed by both parties.

	 	 	 	 	 
	 

	 	/s/ Andrew S. Hillman 

IMPERIAL LITIGATION FUNDING, LLC
	 	 
	Dated: May ___, 2010

	 	By: Andrew S. Hillman	 	 
	 

	 	Title: Vice-President	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	/s/ Harvey R. Hirschfeld 

PLAINTIFF FUNDING HOLDINGS, INC.
	 	 
	 

	 	By: Harvey R. Hirschfeld	 	 
	 

	 	Title: President	 	 

Page 3 of 3exv10w35

Exhibit 10.35

GWG Life Settlements, LLC

220 South Sixth Street

Suite 1200

Minneapolis, MN 55402

November 10, 2009

Imperial Premium Finance, LLC

Attn: Jonathan Neuman, President

701 Park of Commerce Blvd., Ste. 301

Boca Raton, FL 33487

	 	 	 
	Re:

	 	That certain Agreement dated November 13, 2009 by and among Imperial
Premium Finance, LLC and GWG Life Settlements, LLC.

Ladies and Gentlemen:

     Contemporaneously herewith, Imperial Premium Finance, LLC (“Imperial”) and GWG Life
Settlements, LLC (“GWG”) have entered into that certain Agreement dated November ___, 2009 (the
“Agreement”) relating to certain representations, warranties, covenants and indemnities attendant
to the sale of certain Premium Financed Policies by or at the direction or suggestion of Imperial
to GWG. By the execution of this letter (this “Letter Agreement”), Imperial and GWG hereby agree to
supplement the terms of the Agreement as follows:

     1. Deductible. The parties hereto agree that notwithstanding anything else contained
in Section 6.02 of the Agreement, neither the Selling Advisor nor the Indemnifying Parties shall
have any obligation to indemnify any Indemnified Party in respect to the matters set forth in
6.02(a) relating to a specific Premium Financed Policy unless and until they have suffered Adverse
Consequences in respect to such specific policy purchase in excess of the equity contribution which
the Selling Advisor and its affiliates, including MXT Investments, LLC, have made to the
Indemnified Party and its affiliates, including Insurance Strategies Fund, LLC, a Delaware limited
liability company with respect to such specific Premium Financed Policy. For greater clarity, (1)
only the equity contributed by MXT Investments, LLC and its affiliates with respect to a specific
Premium Financed Policy shall be first used to cover Adverse Consequences relating to such policy
(and thereafter indemnification may be sought under this Section 6.02) and (2) no other equity
contributed by MXT Investments and its affiliates in respect to any other policies shall be
utilized to cover any such Adverse Consequences.

     2. Governing Law. THIS LETTER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK, APPLICABLE TO CONTRACTS MADE AND PERFORMED IN
SUCH STATE AND WITHOUT REGARD TO ANY CONFLICT OF LAW PROVISIONS.

 

 

Imperial
Premium Finance,
LLC
 November 13, 2009

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     3. Counterparts. This Letter Agreement may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, and such
counterparts together shall constitute and be one and the same instrument.

     4. Miscellaneous.

     (a) Capitalized terms used but not defined herein shall have the meanings
assigned thereto in the Agreement.

     (b) Neither this Letter Agreement nor any of the terms hereof may be terminated,
amended, supplemented, waived or modified orally, but only by an instrument in writing signed
by the party against which the enforcement of the termination, amendment, supplement, waiver or
modification is sought.

     (e) The section and paragraph headings in this Letter Agreement are for
convenience of reference only and shall not modify, define, expand or limit any of the terms or
provisions hereof.

     If the above correctly reflects our understanding and agreement with respect to the foregoing
matters, please so confirm by signing below where indicated.

	 	 	 	 	 
	 	Sincerely,

GWG Life Settlements, LLC

 	 
	 	By:  	/s/ Jon Sabes 	 
	 	Name:  	Jon Sabes 	 
	 	Its: 	CEO 	 
	 

	 	 	 	 	 
	AGREED AND ACCEPTED as of this 13th day of

November, 2009:

Imperial Premium Finance, LLC

 	 
	By:  	/s/ Jonathan Neuman 	 
	Name:  	Jonathan L. Neuman 
	Title:  	President 	 

 

 

	 	 	 	 	 

AGREEMENT

among

GWG LIFE SETTLEMENTS, LLC,

and

IMPERIAL PREMIUM FINANCE, LLC

November 13, 2009

 

 

AGREEMENT

     This AGREEMENT (this “Agreement”) is entered into as of November 13, 2009, by and among GWG
Life Settlements, LLC, a Delaware limited liability company (“GWG”) and Imperial Premium Finance,
LLC, a Florida limited liability company (“Selling Advisor”); together with GWG, the (“Parties”).

     WHEREAS, Selling Advisor developed a life insurance premium finance loan program under which
Selling Advisor makes premium finance loans to irrevocable life insurance trusts formed by high net
worth individuals resident in the United States, with each life insurance premium finance loan
secured by a life insurance policy insuring the life of such an individual, the payment of the
premiums for which were financed by such a life insurance premium finance loan;

     WHEREAS, the Selling Advisor has foreclosed, or may seek to foreclose, on certain defaulted
life insurance premium finance loans for each of the life insurance policies (each, a “Premium
Financed Policy”);

     WHEREAS, the Selling Advisor desires to facilitate the sale of certain Premium Financed
Policies to GWG, and GWG desires to purchase certain Premium Financed Policies; and

     WHEREAS, in connection with the acquisition of all or any of the sale of any Premium Financed
Policies to GWG, the Selling Advisor has agreed to provide certain services to GWG as described
herein, and the representations, warranties and covenants set forth herein.

     NOW, THEREFORE, in consideration of the foregoing, and for other valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows:

Section 1. Definitions.

     1.01. Definitions. As used in this Agreement, the following capitalized terms shall have the
following meanings:

     “Adverse Claim” means a claim of ownership or right to, or any lien, assignment,
pledge, security interest, title retention, trust or other charge or encumbrance, or other type of
claim on the ownership of a Premium Financed Policy, or its Death Benefit, purchased by the
Purchaser pursuant to a Purchase and Sale Agreement.

     “Affiliate” of a specified Person means a Person that (at the time when the
determination is to be made) directly, or indirectly through one or more intermediaries, controls,
or is controlled by, or is under common control with, the specified Person. As used in the
foregoing sentence, the term “control” (including, with correlative meaning, the terms
“controlling,” “controlled by” and “under common control with”) means the possession, directly or
indirectly, of the power to vote 10% or more of the voting securities of any Person.

     “Agreement” has the meaning given to such term in the recitals.

     “Beneficiary” means the Person listed as the beneficiary under the terms of a
Policy.

     “Borrower Owner” means an irrevocable life insurance trust, through its trustee(s),
that is a party to a Premium Finance Loan Agreement and the original purchaser and owner of the
Premium Financed

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Policy, the premiums for which were financed by the proceeds of the Premium Finance Loan made
pursuant to such Premium Finance Loan Agreement.

     “Business Day” means any day other than a Saturday or Sunday or any other
day on which commercial banking institutions in New York, New York or Wilmington, Delaware are
authorized or obligated by law, executive order or government decree to be closed.

     “Consumer Information” means medical, health, financial and personal
information about an Insured, a Beneficiary or a Designee, or any spouse or other individual
closely related by blood or law to any such Person (each, a “Consumer”),
including, without limitation, a Consumer’s name, street or mailing address, e-mail address,
telephone or other contact information, employer, social security or tax identification number,
date of birth, driver’s license number, photograph or documentation of identity or residency
(whether independently disclosed or contained in any disclosed document such as a Policy, life
expectancy evaluation, life insurance application or Life Settlement application).

     “Death Benefit Amount” means the face amount of the death benefit payable
under a Premium Financed Policy stated in such Premium Financed Policy.

     “Governmental Authority” means the United States of America, any federal,
state, local or other political subdivision thereof and any entity exercising executive,
legislative, judicial, regulatory or administrative functions thereof or pertaining thereto.

	 	 	“GWG” has the meaning given to such term in the recitals.

     “Indemnified Party” means GWG and any securitization trusts or other
vehicles used in any Transfer/Re-Sale Transactions, and the successors, assigns, Affiliates,
owners, controlling Persons, trustees, directors, officers, employees and agents thereof.

     “Indemnifying Parties” means the Selling Advisor.

     “Insurance Company” means a life insurance company that has issued a
Policy.

     “Insured” means the individual or individuals named as the insured under
the terms of a Policy.

     “Life Settlement” means a transaction whereby a Policy insuring the life
of an individual who does not then have a Viatical Settlement Illness or Condition is purchased by
compensating the owner of that Policy with anything of value that is less than the Death Benefit
Amount of the Policy.

     “Parties” has the meaning given to such term in the recitals.

     “Person” means any individual or entity, including any corporation,
partnership, joint venture, association, limited liability company, joint stock company, trust,
trust company, estate, unincorporated organization, Governmental Authority or any other entity.

     “Policy” means an individual, non variable life insurance policy issued by
an insurance company domiciled in the United States, owned by Persons resident or domiciled in the
United States and insuring the life of an individual resident in the United States.

     “Policy Illustration” means a document prepared by, and obtained from, the
Insurance Company setting forth the Insurance Company’s name and location, the Policy number,
Policy type, the Death. Benefit Amount of the Policy, date of issue or effective date of
the Policy, the current account value and

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cash surrender value of the Policy, and an indication of level annual premiums, level Death Benefit
Amount, account values, cash surrender values and policy charges expected in respect of the Policy
through the maturity date or other expiration date of the Policy.

     “Premium Finance Loan” means a life insurance premium finance loan
originally made by Selling Advisor to a Borrower Owner which is evidenced by a Premium Finance Loan
Agreement and a Premium Finance Note.

     “Premium Finance Loan Agreement” means a Premium Finance Loan Agreement
between a Borrower Owner and the Selling Advisor, as the lender.

     “Premium Finance Note” means the promissory note issued pursuant to a
Premium Finance Loan Agreement by a Borrower Owner to the Selling Advisor as the holder of such
promissory note and the lender under such Premium Finance Loan Agreement.

     “Premium Financed Policy” has the meaning give to such term in the
recitals.

     “Purchaser Acquired Policy” means a Premium Financed Policy governed by
the terms and conditions of this Agreement by reason that it is either: (i) a Premium Financed
Policy the Selling Advisor elects to sell to Purchaser pursuant to a Purchase and Sale Agreement,
or (ii) a Premium Financed Policy that the Borrower Owner elects to sell, with the consent and at
the direction of the Selling Advisor, to Purchaser pursuant to a Purchase and Sale Agreement.

     “Purchase Date” means, with respect to each Purchaser Acquired. Policy,
the legally effective date on which the ownership of such Policy is transferred to Purchaser from
the applicable Selling Advisor (or a Borrower Owner) pursuant to the respective Purchase and Sale
Agreement as reflected on the records of the Insurance Company by the recordation of the
appropriate change of ownership form and change of beneficiary form.

     “Purchase and Sale Agreement” means the Purchase and Sale Agreement
between the Purchaser and the Selling Advisor or Borrower Owner, as the case may be, which
transfers the legal ownership of the Premium Financed Policy.

     “Purchaser” means GWG or its designee.

     “Purchaser Due Diligence Documents” means, with respect to any Premium
Financed Policy the documents and information which may be required by Purchaser, in its sole
discretion, for the underwriting the purchaser of such policy.

     “Representatives” means, with respect to a Person, such Person’s
directors, officers, trustees, employees, agents, counsel, accountants, financial advisors,
consultants and all other representatives.

     “Selling Advisor” has the meaning given to such term in the recitals.

     “VOC” means a verification of coverage from the applicable Insurance
Company relating to a Policy or other document issued by the applicable Insurance Company
evidencing coverage under the related Policy, in either case in a form satisfactory to Purchaser,
which will include, among other things, (i) identification of the Insured, (ii) confirmation that
the Policy is in full force and effect, (iii) the Policy number and the Death Benefit Amount under
the Policy, (iv) any loans outstanding under the Policy and any other Adverse Claim on the Policy,
and (v) a listing of the current record owner(s) of, and all the present Beneficiaries under, the
Policy.

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Section 2.
Acquisition of Loan Acquired Policies by GWG.

          2.01. Identification,
Pricing, Due Diligence, and Closing Process.

               a From time to time, Selling Advisor shall provide Purchaser with Premium
Financed Policies for evaluation and possible sale to Purchaser. Selling Advisor shall provide to
Purchaser (i) two updated and current life expectancy reports for the related Insureds (ii) an
updated and current Policy Illustration for such Premium Financed Policy from the Insurance
Company, and (iii) an updated and current VOC stating the then current account value
and cash surrender value of the Premium Finance Policy. Without the obligation to do so, the
Purchaser may agree to purchase the Policy by providing Selling Advisor with an offer letter
(“Offer”) indicating the terms and conditions upon which Purchaser would purchase the Premium
Financed Policy.

               b Upon acceptance of the Offer by the Selling Advisor or Borrower Owner,
as the
case may be, Selling Advisor shall cooperate with Purchaser to complete the sale of such Policy in
accordance with the terms of the Offer by working with the Borrower Owner and related Insured to
transfer ownership and the right to receive payment of the death benefit of such Premium Financed
Policy to the Purchaser.

               c Upon acceptance of the Offer by the Selling Advisor or Borrower Owner,
as the
case may be, Purchaser shall complete its due diligence review of such Premium Financed Policy. If
Purchaser determines that it does not have satisfactory information about such Premium Financed
Policy or is unable to complete or otherwise satisfy its due diligence review of such Premium
Financed Policy (to its sole satisfaction), the Purchaser shall be under no obligation to complete
the purchase of such Policy. If Purchaser determines that its underwriting criteria are met, to its
sole satisfaction, the Selling Advisor will (i) obtain all required signatures on such Purchase and
Sale Agreement, and (ii) obtain a change of ownership form and a change of beneficiary form from
the Insurance Company for such Policy and work with Purchaser to facilitate the closing of the sale
of such Premium Financed Policy.

Section 3. Representations and Warranties.

          3.01. Representations and. Warranties Concerning Selling Advisor. As of the date hereof
and as of each Purchase Date for any Purchaser Acquired Policy, the Selling Advisor, makes the
following representations and warranties:

               a Organization and Good Standing. Selling Advisor has been duly organized,
is
validly existing and in good standing under the laws of its state of formation, with power and
authority to own its properties and to conduct its business as currently conducted.

               b Due Qualification. Selling Advisor is duly qualified to do
business, in good
standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the
ownership or lease of property or the conduct of its business requires such qualifications.

               c Power and Authority. Selling Advisor has the power and
authority to execute,
deliver and perform its obligations under this Agreement. The execution, delivery and performance
of this Agreement have been duly authorized by each Selling Advisor by all necessary action.

               d Binding Obligation. This Agreement has been duly executed and
delivered by
Selling Advisor and constitutes a legal, valid and binding obligation Selling Advisor enforceable
against
such Selling Advisor in accordance with its terms, except as such enforceability may be subject to
or
limited by bankruptcy, insolvency, reorganization, moratorium, liquidation, fraudulent conveyance or

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other similar laws affecting the enforcement of creditors’ rights in general and by general
principles of equity, regardless of whether such enforceability shall be considered in a
proceeding in equity or in law.

               e No Proceedings. There is no pending or, to any Selling
Advisor’s knowledge,
threatened action, suit or proceeding, or any investigation that could reasonably be expected to
lead to any such action, suit or proceeding, against or affecting any Selling Advisor, its
officers or directors, or the property of any Selling Advisor, in any court or tribunal, or before
any arbitrator of any kind or before or by any Governmental Authority (i) asserting that any
Selling Advisor has violated, or is in violation of, any law, rule or regulation, (ii) asserting
the invalidity of this Agreement, or (iii) seeking any determination or ruling that might
materially and adversely affect (A) the performance by any Selling Advisor of this Agreement or
(B) the validity or enforceability of this Agreement.

               f No Orders. No injunction, writ, restraining order or other
order has been issued
by a Governmental Authority or served on any Selling Advisor that is adverse to any Selling
Advisor or inconsistent with the due consummation of the transactions contemplated by this
Agreement, nor is there any investigation that could reasonably be expected to lead to any such
injunction, writ, restraining order or other order.

               g Consents and Filings. The execution, delivery and performance
by each Selling
Advisor of this Agreement and the transactions contemplated hereby (i) do not contravene or cause
any Selling Advisor to be in default under (A) such Selling Advisor’s certificate of formation,
operating agreement or other organizational documents, (B) any contractual restriction with
respect to any debt of any Selling Advisor or contained in any indenture, loan or credit
agreement, lease, mortgage, security agreement, bond, note or other agreement or instrument
binding on or affecting any Selling Advisor or its property or (C) any law, rule, regulation,
order, writ, judgment, award, injunction or decree applicable to, binding on or affecting any
Selling Advisor or its property and (ii) do not result in or require the creation of any Adverse
Claim.

               h No Defaults. No Selling Advisor is in default under the
material terms and
conditions of any instrument or agreement (i) evidencing, securing or providing for the issuance
of indebtedness of any Selling Advisor in the amount of $100,000 or more or (ii) relating to the
identification or solicitation of individuals in connection with the purchase or financing of
Policies on the lives of such individuals.

               i Permits, Licenses, Approvals. Selling Advisor has and
maintains, and has paid
all fees due and payable in connection with, all permits, licenses, authorizations, registrations,
approvals and consents of Governmental Authorities necessary for (i) the activities and business
of such Selling Advisor as currently conducted and as proposed to be conducted, (ii) the
ownership, use, operation and maintenance of its properties, facilities and assets and (iii) the
performance by each Selling Advisor of this Agreement. No Selling Advisor is required to have a
Life Settlement broker or provider license to perform its obligations under this Agreement.

               j Compliance with Applicable Laws. Selling Advisor is in
compliance with the
requirements of all laws applicable to them in connection with the nature and conduct of their
respective businesses a breach of any of which, individually or in the aggregate, would be
reasonably likely to have a material adverse effect on the parties’ ability to consummate the
transactions contemplated hereby.

               k Brokers. No broker or finder acting on behalf of any Selling
Advisor or any
Insured brought about the transactions contemplated by this Agreement, no Borrower Owner was
represented by a Life Settlement broker or similar Person in connection with any of the transactions
relating to a Premium Finance Loan and the Premium Financed Policy, and none of the Parties has any

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obligation to any Person, including, without, limitation, any Life Settlement broker, in respect
of any finder’s or brokerage commissions (or any similar obligation) in connection with any
transactions relating to a Premium Finance Loan.

          3.02. Representations and Warranties by Selling Advisor Concerning Purchase
Acquired
Policies, As of the date hereof and the Purchase Date for a Purchaser Acquired
Policy, the Selling Advisor makes the following representations and warranties with respect to any
Policy purchased by Purchaser:

               a Each Purchaser Acquired Policy sold to Purchaser hereunder is free and clear of
all Adverse Claims. In connection with each sale and conveyance of a Purchaser Acquired Policy to
the Purchaser, the Purchaser shall obtain good, valid and marketable title to such Purchaser
Acquired Policy and all of the rights of the Selling Advisor, Borrower Owner, Beneficiary in each
Purchaser Acquired Policy and related rights and security sold or otherwise conveyed to the
Purchaser pursuant to the Purchase and Sale Agreement, which ownership interest is free and clear
of all Adverse Claims.

               b Each Purchaser Acquired Policy is in full force and effect and has been duly
issued and delivered by the Insurance Company.

               c All insurance premiums due and owing under each Purchaser Acquired Policy
have been paid in full. to the Insurance Company for the period ending no sooner than ten (10)
Business Days after the Purchase Date of such Purchaser Acquired Policy.

               d No Selling Advisor has received any notice from any Person of any lapse of any
Premium Financed Policy, and no Premium Financed Policy has been contested or rescinded, or
attempted to be contested or rescinded, by the Insurance Company or any other Person.

               e On the date each Purchaser Acquired Policy was issued, the Borrower Owner of
such Premium Financed Policy had a valid insurable interest in the life of the Insured under such
Premium Financed Policy, and such Insured caused such Borrower Owner to procure such Premium
Financed Policy on such Insured’s own initiative.

               f All information heretofore or hereafter furnished by, or in connection with, any
transaction contemplated by this Agreement is and will be true and complete in all material
respects, does not and will not omit to state a material fact necessary to make the statements
contained therein not misleading, and was not altered in any way by any Selling Advisor before
being furnished to Purchaser.

          3.03. Representations and Warranties Concerning GWG. As of the
date hereof and as of
each Purchase Date for any Purchaser Acquired Policy, GWG makes the following representations and
warranties:

               a Organization and Good Standing. GWG has been duly formed and
is validly
existing and in good standing under the laws of the State of Delaware, with power and authority to
own its properties and to conduct its business as presently conducted.

               b Due Qualification. GWG is duly qualified to do business, in
good standing and
has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or
lease of property or the conduct of its business requires such qualifications.

6

 

               c Power and Authority. GWG has the power and authority to execute, deliver and
perform its obligations under this Agreement. The execution, delivery and performance of this
Agreement has been duly authorized by GWG by all necessary action.

               d Binding Obligation. This Agreement has been duly executed
and delivered by
GWG and constitutes a legal, valid and binding obligation of GWG enforceable against GWG in
accordance with its terms, except as such enforceability may be subject to or limited by
bankruptcy, insolvency, reorganization, moratorium, liquidation, fraudulent conveyance or other
similar laws affecting the enforcement of creditors’ rights in general and by general principles or
equity or public policy, regardless of whether such enforceability shall be considered in a
proceeding in equity or in law.

               e No Proceedings. There is no action, suit or proceeding in
respect of which GWG
has been served or, to GWG’s knowledge, which is pending or threatened, in each case, in any court
or tribunal, or before any arbitrator of any kind or before or by any Governmental Authority (i)
asserting the invalidity of this Agreement, or (ii) seeking any determination or ruling that might
materially and adversely affect (A) the performance by GWG of this Agreement, or (B) the validity
or enforceability of this Agreement.

Section 4. [Reserved]

Section 5. Covenants.

          5.01. Covenants of Selling Advisor. Selling Advisor shall:

               a Compliance with Law. Comply in all material respects with all applicable laws,
rules, regulations and orders with respect to itself, its business and properties.

               b Preservation of Rights and Licenses. Preserve and maintain its existence, rights,
franchises and privileges in the jurisdiction of its organization and, if applicable, all necessary
licenses, and permits.

               c Restrictions Concerning Proceedings. Selling Advisor
hereby agrees that it will
not, directly or indirectly, institute, or cause to be instituted, against GWG, any owner of GWG or
any securitization trust or other vehicle used in any Transfer/Re-Sale Transactions any proceeding
seeking to adjudicate it bankrupt or insolvent, or seeking liquidation, winding up, reorganization,
arrangement, adjustment, protection, relief, or composition of it or any of its debts under any law
relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of
an order for relief or the appointment of a conservator, receiver, trustee, custodian or other
similar official for it or for any substantial part of its property, or any other actions sought in
such proceeding, so long as there shall not have elapsed one year plus one day since the latest
maturing securities issued by any securitization trust or other vehicle have been paid in full. The
foregoing covenant shall not limit any Selling Advisor’s right to institute legal proceedings of a
type other than those referred to in the preceding sentence against GWG for any breach by GWG of
its obligations hereunder.

               d Notice of Pending Action or Contest. Promptly after the
occurrence thereof,
deliver written notice of any pending or threatened action, suit, proceeding or investigation by an
Insurance Company contesting any Premium Financed Policy or refusing to pay the Death Benefit
Amount on any Premium Financed Policy.

Section 6. Survival; Indemnification.

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          6.01. Survival. The Parties agree that the representations and
warranties contained in
Section 3.01 shall survive the sale of a Purchaser Acquired Policy from the Selling Advisor to
Purchaser and any assignment of such Purchaser Acquired Policy by Purchaser to any subsequent
direct or indirect assignee and shall continue so long as any such Purchaser Acquired Policy shall
remain in force or be subject to reinstatement. Selling Advisor acknowledges that it has been
advised that Purchaser may assign all or part of its rights, titles and interests in and to each
Purchaser Acquired Policy and that Purchaser may assign its right to exercise the remedies created
by this Section 6.01 to a subsequent assignee.

          6.02.
Indemnification Obligations of Indemnifying Parties.

               a Indemnification. Without limiting any other rights that an Indemnified Party
may have hereunder or under applicable law, the Indemnifying Parties shall, severally and not
jointly, pay on demand to each Indemnified Party any and all amounts necessary to indemnify such
Indemnified Party from and against any and all claims, damages, losses and liabilities and related
costs and expenses, including taxes and reasonable attorneys’ fees and disbursements (collectively,
“Adverse Consequences”), which may be imposed on, incurred by or asserted against an Indemnified
Party in any way arising out of or resulting from:

                    i misrepresentation or fraud committed by any of the Indemnifying
Parties, or known by any of the Indemnifying Parties, to be committed by an Insured or Selling
Advisor with respect to any of the Premium Financed Policies;

                    ii any representation or warranty made by any of the Indemnifying Parties,
or any of their respective officers, under this Agreement having been incorrect in any material
respect when made or delivered;

                    iii the failure by any of the Indemnifying Parties to comply with any term,
provision or covenant contained in this Agreement;

                    iv the failure of any of the Indemnifying Parties to fulfill any duty or
obligation to any Insured or Borrower Owner;

                    v any failure by a Selling Advisor to comply with any applicable federal,
state or local law in connection with any Premium Finance Policies sold to Purchaser; or

                    vi any claim against the Indemnified Party by any Insured or Borrower
Owner with respect to any aspect of a Premium Finance Loan, including, without limitation, any
relinquishment to a Selling Advisor of a Policy in lieu of foreclosure by a Borrower Owner.

               b Survival of Indemnity Obligations. The parties agree that the
indemnity
obligations of the Selling Advisor hereunder shall survive any termination or expiration of this
Agreement and the acquisition, termination or expiration of any Premium Financed Policy purchased
by Purchaser hereunder.

               c Matters Involving Third Parties.

                    (i) If any third party notifies any Indemnified Party with respect to any matter (a
“Third-Party Claim”) that may give rise to a claim for indemnification against Indemnifying Parties
under this Section 6.02, then the Indemnified Party shall promptly notify each Indemnifying Party
thereof in writing; provided, however, that no delay on the part of the Indemnified Party in
notifying any

8

 

Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and
then solely to the extent) the Indemnifying Party is thereby actually and materially prejudiced.

                    (ii) Any Indemnifying Party shall have the right to assume the defense of the Third-Party
Claim with counsel of its choice at any time within 15 days after the Indemnified Party has given
notice of the Third-Party Claim; provided, however, that the Indemnifying Party must conduct the
defense of the Third-Party Claim actively and diligently thereafter in order to preserve its
rights in this regard; and provided further that the Indemnified Party may retain separate
co-counsel at its sole cost and expense and participate in the defense of the Third-Party Claim.

                    (iii) So long as the Indemnifying Party has assumed and is conducting the defense of the
Third-Party Claim in accordance with Section 6.02(e)(ii) above, (A) the Indemnifying Party shall
not consent to the entry of any judgment on or enter into any settlement with respect to the
Third-Party Claim without the prior written consent of the Indemnified Party (not to be
unreasonably withheld) unless the judgment or proposed settlement involves only the payment of
money damages by one or more of the Indemnifying Parties, does not impose an injunction or other
equitable relief upon the Indemnified Party and does not have adverse consequences (precedential
or otherwise) for the Indemnified Parties and (B) the Indemnified Party shall not consent to the
entry of any judgment or enter into any settlement with respect to the Third-Party Claim without
the prior written consent of the Indemnifying Party (not to be unreasonably withheld).

                    (iv) In the event none of the Indemnifying Parties assumes and conducts the defense of the
Third-Party Claim in accordance with Section 6.02(e)(ii) above, however, (A) the Indemnified Party
may defend against, and consent to the entry of any judgment on or enter into any settlement with
respect to, the Third-Party Claim in any manner he, she, or it may reasonably deem appropriate and
(B) the Indemnifying Parties shall remain responsible for any Adverse Consequences the Indemnified
Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the
Third-Party Claim to the fullest extent provided in this Section 6.02.

Section 7. Miscellaneous.

          7.01. Confidentiality.

               a Consumer Information. The Parties acknowledge that insurance regulations and
other applicable laws and regulations are structured to provide confidentiality to policy owners
and Insureds with respect to Consumer Information in connection with ownership or sale of their
Policies, and that brokers, purchasers, and each party, and all of their agents and
representatives, are obligated to keep Consumer Information confidential in accordance with
applicable laws and regulations. Each of the Parties agrees to comply with all applicable laws and
regulations with respect to the confidentiality of Consumer Information.

               b Transaction Information. The Parties agree information
regarding the business of
Purchaser and the Selling Advisor and the transactions contemplated herewith involve information
specific to each Parties respective business and otherwise not generally known (“Confidential
Information”). The Parties and its representatives and agents covenant, warrant and agree to keep
the Confidential Information confidential and shall not disclose any of the Confidential
Information, directly, or indirectly, in any manner whatsoever, provided, however, that the Parties
may make any disclosure of information deemed the Confidential Information to which other Party has
given its prior written consent. This section shall survive termination of this Agreement. The
Confidential Information shall not include information that (i) is or becomes publicly available
other than as a result of acts in breach of this Agreement, (ii) is disclosed to the Party by a
third party on a non-confidential basis (provided that the

9

 

third party did not receive such information in violation of or is bound by a confidentiality
agreement), or (iii) the Party determines or may be required to be disclosed by law, regulation, or
any regulatory authority.

          7.02. Entire Agreement. This Agreement, together with the
schedules and exhibits attached
hereto and any other agreements contemplated hereby, contains the entire agreement of the Parties
hereto and thereto with respect to the subject matter contained herein and therein and supersede
and cancel all prior agreements, negotiations, correspondence, undertakings, understandings and
communications of the Parties, oral or written, with respect to such subject matter.

          7.03. Notices. All notices, requests, consents and other
communications under this
Agreement to a Party shall be deemed to be sufficient if contained in a written instrument
delivered in person, or duly sent by overnight mail, postage prepaid, or telecopied with a
confirmation copy by regular mail, addressed or telecopied, as the case may be, to such party at
the address or telecopier number, as the case may be, set forth below, or such other address or
telecopier number, as the case may be, as may hereafter be designated in writing by the addressee
to another party:

     If to GWG, to:

220 South Sixth

Street Suite 1200

Minneapolis, MN 55402

Attention: Jon Sabes

     If to Selling Advisor, to:

701 Park of Commerce Blvd.

Suite 301

Boca Raton, FL 33487

Attention: Jonathan Neuman

All notices, requests, consents and other communications delivered pursuant to this Section 8.03
shall be deemed to have been received (a) in the case of personal delivery, on the date of such
delivery, (b) in the case of overnight mail, on the third Business Day following the date of such
overnight mailing, and (e) in the case of telecopy, when confirmed by a telecopy machine report.

          7.04. Further Assurances. The Parties each agree to execute and
deliver such additional
instruments and other documents, and to take all such further actions, as may be reasonably
necessary or appropriate to effectuate, carry out and comply with all of the terms of this
Agreement and the transactions contemplated hereby.

          7.05. Waiver. The failure or delay of any party hereto to enforce
at any time any of the
provisions of this Agreement shall in no way be construed as a waiver of any such provision, nor in
any way to affect the validity or this Agreement or any part hereof or the right of such party
thereafter to enforce each and every such provision. No waiver of any breach of or non-compliance
with this Agreement shall be held to be a waiver of any other or subsequent breach or
non-compliance. All remedies, either under this Agreement or by law or otherwise afforded, will be
cumulative and not alternative.

          7.06. Binding Effect. This Agreement shall be binding upon and
inure to the benefit of the
Parties and their respective successors and permitted assigns. Whenever reference is made to the
assigns

10

 

of GWG in this Agreement, such term shall include, without limitation, any direct or indirect
assignee of a Premium Financed Policy or the proceeds thereof or any interest therein. This
Agreement shall create and constitute the continuing obligations of the parties hereto in
accordance with its terms, and shall remain in full force and effect until its termination, except
as set forth in Section 6 and Section 8.01, which provisions shall be continuing and shall survive
any termination of this Agreement.

          7.07. No Third-Party Rights. Nothing in this Agreement shall be
deemed to create any right
in any Person not a party hereto, and this Agreement shall not be construed in any respect to be a
contract in whole or in part for the benefit of any third Person. Notwithstanding the foregoing,
the parties hereto acknowledge that it is intended for each Indemnified Party to be a third-party
beneficiary of the provisions of Section 6.02 and such provisions shall inure to the benefit of
each such Indemnified Party.

          7.08. Taxes. Each of the Parties shall be responsible for its own
income taxes and other tax
consequences resulting from the transactions contemplated by this Agreement,

          7.09. Assignment. No party hereto may assign any of its rights and obligations hereunder
or any interest herein without the prior written consent of the other party, which consent may be
withheld in such other party’s sole discretion, except that GWG may assign all of its rights and
remedies hereunder, including, without limitation, its right to acquire any Premium Financed
Policies, any Premium Financed Policies or interests therein.

          7.10. Amendments. No modification, amendment or waiver of, or with
respect to, any
provision of this Agreement, and all other agreements, instruments and documents delivered
pursuant to this Agreement, shall be effective unless it shall be in writing and signed by each of
the Parties.

          7.11. Severability. In case any provision in or obligation under
this Agreement shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability
of the remaining provisions or obligations shall not in any way be affected or impaired thereby in
such jurisdiction, and such provision or obligation shall not in any way be affected or impaired
thereby in any other jurisdiction.

          7.12. Governing Law. This Agreement shall be governed by, and
construed and enforced in
accordance with, the laws of the State of New York with out giving any effect to its conflicts or
choice of law principles.

          7.13. Arbitration; Waiver of Jury Trial.

           
    a Arbitration. Each of the Parties, on their own behalf and on behalf of their
respective successors and permitted assigns, hereby agree that any and all controversies or claims
arising out of or relating to this Agreement, or the breach hereof, shall be resolved by binding
arbitration in such place as the parties may agree to. Such arbitration shall be administered by
the JAMS and shall be conducted under the JAMS’ then-effective Comprehensive Arbitration Rules and
Procedures, and judgment on the award rendered by the arbitrators may be entered into any court
having jurisdiction thereof. Provided, however, that a controversy or claim otherwise subject to
arbitration hereunder may initially be heard by any court of competent jurisdiction to the extent,
and only to the extent, that initial submission of the matter to a court is necessary for a Party
to seek emergency injunctive relief or other provisional remedy or emergency relief, and provided
further, however, that the matter initially submitted to a court shall be referred by the court to
arbitration pursuant to this section as soon as the court has ruled upon and a written order has
been entered with respect to the matter as to which such emergency relief or provisional remedy
was sought. The direct expense of any arbitration and court proceedings hereunder (including, but
not limited to, expenses incurred in the production of documents, investigation, travel,

11

 

witness and expert fees, and reasonable attorneys’ fees), shall be borne by the
non-prevailing Party, as determined by the arbitrators who shall include the recoverable amount of
such expenses as a separate line item determination in the award rendered at conclusion of the
arbitration.

               b Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, EACH OF THE PARTIES HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING
ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE ARISING OUT OF, CONNECTED WITH,
RELATED TO, OR IN CONNECTION WITH THIS AGREEMENT. INSTEAD, ANY DISPUTE RESOLVED IN COURT WILL BE
RESOLVED IN A BENCH TRIAL WITHOUT A JURY.

          7.14. Headings. The headings herein are for purposes of reference
only and shall not
otherwise affect the meaning or interpretation of any provision hereof.

          7.15. Execution in Counterparts. This Agreement may be executed by the parties in
separate counterparts, each of which when so executed shall be deemed to be an original and both of
which when taken together shall constitute one and the same agreement.

          7.16. Construction of Agreement. This Agreement shall be construed
without regard to any
presumption or other rule requiring construction against the party causing this Agreement to be
drafted.

          7.17. Relationship of Parties. Each Party hereto intends to act
and perform the duties,
obligations and services contemplated herein as an independent contractor. Nothing contained herein
is intended, nor shall be construed, to create a partnership, joint venture or other similar
association between or among any of the parties hereto for U.S. federal income tax or any other
purposes.

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their respective
officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	GWG LIFE SETTLEMENTS, LLC

 	 
	 	By:  	/s/ Jon Sabes 	 
	 	 	Name:  	Jon Sabes 	 
	 	 	Title:  	CEO 	 
	 
	 	IMPERIAL PREMIUM FINANCE, LLC

 	 
	 	By:  	/s/ Jonathan Neuman 	 
	 	 	Name:  	Jonathan L. Neuman 	 
	 	 	Title:  	President 	 
	 

12

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