Document:

EX-10.1

 Exhibit 10.1 

2018 EQUITY INCENTIVE PLAN 
  

SKYLINE CHAMPION CORPORATION 

2018 EQUITY INCENTIVE PLAN 
  

	1.	 DEFINED TERMS 

Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to
those terms. 
  

	2.	 PURPOSE 

The Plan is intended to advance the interests of the Company by providing for the grant to Participants of Stock and Stock-based incentive
awards. The purposes of the Plan are to attract, retain, and reward key Employees and Directors of, and consultants and advisors to, the Company and its subsidiaries, to incentivize them to generate shareholder value, to enable them to participate
in the growth of the Company and to align their interests with the interests of the Company’s shareholders. 
  

	3.	 ADMINISTRATION 

The Plan will be administered by the Administrator. The Administrator has discretionary authority, subject only to the express provisions of
the Plan, to administer and interpret the Plan and any Awards; to determine eligibility for and grant Awards; to determine the exercise price, base value from which appreciation is measured, or purchase price, if any, applicable to any Award; to
determine, modify or waive the terms and conditions of any Award; to determine the form of settlement of Awards (whether in cash, shares of Stock, other Awards, or other property); to prescribe forms, rules and procedures relating to the Plan and
Awards, including Award agreements; and to otherwise do all things necessary or desirable to carry out the purposes of the Plan or any Award. Determinations of the Administrator made with respect to the Plan or any Award are conclusive and bind all
persons. 
  

	4.	 LIMITS ON AWARDS UNDER THE PLAN 

(a) Number of Shares. Subject to adjustment as provided in Section 7(b), the maximum number of shares of Stock
that may be delivered in satisfaction of Awards under the Plan is six million (6,000,000) shares. Up to the total number of shares available for awards to employee Participants may be issued in satisfaction of ISOs, but nothing in this
Section 4(a) will be construed as requiring that any, or any fixed number of, ISOs be awarded under the Plan. For purposes of this Section 4(a), the number of shares of Stock delivered in satisfaction of Awards will be determined
(i) by including shares of Stock withheld by the Company in payment of the exercise price or purchase price of the Award or in satisfaction of tax withholding requirements with respect to the Award, (ii) by including the full number of
shares covered by a SAR any portion of which is settled in Stock (and not only the number of shares of Stock delivered in settlement), and (iii) by excluding any shares of Stock underlying Awards settled in cash or that expire, become
unexercisable, terminate or are forfeited to or repurchased by the Company without the delivery of Stock. For the avoidance of doubt, the number of shares of Stock available for delivery under the Plan will not be increased by any shares of Stock
delivered under the Plan that are subsequently repurchased using proceeds directly attributable to Stock Option exercises. 
 (b)
The Administrator may grant Substitute Awards under the Plan. To the extent consistent with the requirements of Section 422 and the regulations thereunder and other applicable legal requirements (including

  
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applicable stock exchange requirements), shares of Stock delivered under Substitute Awards will be in addition to and will not reduce the number of shares of Stock available for Awards under the
Plan set forth in Section 4(a). Notwithstanding anything in Section 4(a) to the contrary, if any Substitute Award is settled in cash or expires, becomes unexercisable, terminates or is forfeited to or repurchased by the Company, in each
case, without the delivery of shares of Stock, the shares of Stock previously subject to such Award will not be available for future grants under the Plan. The Administrator will determine the extent to which the terms and conditions of the Plan
apply to Substitute Awards, if at all. 
 (c) Type of Shares. Shares delivered by the Company under the Plan may
be authorized but unissued shares of Stock or previously issued shares acquired by the Company. No fractional shares will be delivered under the Plan. 

(d) Non-Employee Director Limits. The aggregate value of all compensation
granted or paid to any Director with respect to any calendar year, including Awards granted under the Plan and cash fees or other compensation paid by the Company to such Director outside of the Plan, in each case, for his or her services as a
Director during such calendar year, may not exceed $400,000.00, calculating the value of any Awards based on the grant date fair value in accordance with the Accounting Rules and assuming maximum payout levels for all Awards. 

 

	5.	 ELIGIBILITY AND PARTICIPATION 

The Administrator may select Participants from among key Employees and Directors of, and consultants and advisors to, the Company and its
subsidiaries. Eligibility for ISOs is limited to employees of the Company or of a “parent corporation” or “subsidiary corporation” of the Company as those terms are defined in Section 424 of the Code. Eligibility for NSOs
and SARs is limited to individuals who are providing direct services on the date of grant of the Award to the Company or to a subsidiary of the Company that would be described in the first sentence of
Section 1.409A-1(b)(5)(iii)(E) of the Treasury Regulations. 
  

	6.	 RULES APPLICABLE TO AWARDS 

(a) All Awards. 

(1) Award Provisions. The Administrator will determine the terms of all Awards, subject to the limitations
provided herein. By accepting (or, under such rules as the Administrator may prescribe, being deemed to have accepted) an Award, the Participant will be deemed to have agreed to the terms of the Award and the Plan. Notwithstanding any provision of
this Plan to the contrary, Substitute Awards may contain terms and conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator. No term of an Award shall provide for automatic
“reload” grants of additional Awards upon exercise of an Option or SAR or otherwise as a term of an Award. 
 (2)
Term of Plan. No Awards may be made after ten years from the Date of Adoption, but previously granted Awards may continue beyond that date in accordance with their terms. 

(3) Transferability. Neither ISOs nor, except as the Administrator otherwise expressly provides in accordance with
the third sentence of this Section 6(a)(3), other Awards may be transferred other than by will or by the laws of descent and distribution. During a Participant’s lifetime, ISOs (and, except as the Administrator otherwise expressly provides
in accordance with the third sentence of this Section 6(a)(3), SARs and NSOs) may be exercised only by the Participant. The Administrator may permit the transfer of Awards other than ISOs, subject to applicable securities and other laws and
such limitations as the Administrator may impose. 
 (4) Vesting, etc. The Administrator shall determine the time or
times at which an Award vests or becomes exercisable and the terms on which a Stock Option or SAR remains exercisable. Without limiting the 

  
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foregoing, the Administrator may at any time accelerate the vesting or exercisability of an Award, regardless of any adverse or potentially adverse tax or other consequences resulting from such
acceleration. Unless the Administrator expressly provides otherwise, however, the following rules will apply if a Participant’s Employment ceases: 

(A) Except as provided in (B) and (C) below, immediately upon the cessation of the Participant’s Employment
each Stock Option and SAR that is then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate and all other Awards that are then held by the Participant or by the
Participant’s permitted transferees, if any, to the extent not already vested will be forfeited. 
 (B) Subject
to (C) and (D) below, all vested and unexercised Stock Options and SARs held by the Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment, to the extent then
exercisable, will remain exercisable for the lesser of (i) a period of 90 days following such cessation or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this
Section 6(a)(4), and will thereupon immediately terminate. 
 (C) Subject to (D) below, all vested and
unexercised Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment due to his or her death or Disability, to the extent then
exercisable, will remain exercisable for the lesser of (i) a period of one year following such cessation or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this
Section 6(a)(4), and will thereupon immediately terminate. 
 (D) All Stock Options and SARs (whether or not
vested or exercisable) held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation of Employment if the
termination is for Cause or occurs in circumstances that in the determination of the Administrator would have constituted grounds for the Participant’s Employment to be terminated for Cause. 

(5) Recovery of Compensation. Subject to applicable law, the Administrator may provide in any case that any
outstanding Award (whether or not vested or exercisable) and the proceeds from the exercise or disposition of any Award or shares of Stock acquired under any Award will be subject to forfeiture and disgorgement to the Company, with interest and
other related earnings, if the Participant to whom the Award was granted violates (i) a non-competition, non-solicitation, confidentiality or other restrictive
covenant by which he or she is bound or (ii) any Company policy applicable to the Participant that provides for forfeiture or disgorgement with respect to incentive compensation that includes Awards under the Plan. In addition, the
Administrator may require forfeiture and disgorgement to the Company of any outstanding Award and the proceeds from the exercise or disposition of any Award or shares of Stock acquired under any Award, with interest and other related earnings, to
the extent required by law or applicable stock exchange listing standards, including, without limitation, Section 10D of the Securities Exchange Act of 1934, as amended, or any applicable Company policy. Each Participant, by accepting or being
deemed to have accepted an Award under the Plan, agrees to be bound by the forfeiture and disgorgement provisions contained herein and agrees to cooperate fully with the Administrator, and to cause any and all permitted transferees of the
Participant to cooperate fully with the Administrator, to effectuate any forfeiture or disgorgement required hereunder, subject to applicable law. Neither the Administrator nor the Company nor any other person, other than the Participant and his or
her permitted transferees, if any, will be responsible for any adverse tax or other consequences to a Participant or his or her permitted transferees, if any, that may arise in connection with this Section 6(a)(5). 

(6) Taxes. The delivery, vesting and retention of shares of Stock, cash or other property under an Award are
conditioned upon full satisfaction by the Participant of all tax withholding requirements with respect to the Award. The Administrator shall prescribe such rules for the withholding of taxes with respect to any Award as it deems necessary. The
Administrator may hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding requirements (but not in excess of the maximum withholding amount consistent with the
Award being subject to equity accounting treatment under the Accounting Rules). 

  
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 (7) Dividend Equivalents, Etc. The Administrator may provide for
the payment of amounts (on terms and subject to conditions established by the Administrator) in lieu of cash dividends or other cash distributions with respect to Stock subject to an Award whether or not the holder of such Award is otherwise
entitled to share in the actual dividend or distribution in respect of such Award; provided, however, that (a) dividends or dividend equivalents relating to an Award that, at the dividend payment date, remains subject to a risk of
forfeiture (whether service-based or performance-based) shall be subject to the same risk of forfeiture as applies to the underlying Award and (b) except as contemplated by Section 7 of the Plan, no dividends or dividend equivalents shall
be payable with respect to Options or SARs. Any entitlement to dividend equivalents or similar entitlements will be established and administered either consistent with an exemption from, or in compliance with, the requirements of Section 409A.
Dividends or dividend equivalent amounts payable in respect of Awards that are subject to restrictions may be subject to such additional limitations or restrictions as the Administrator may impose.  

(8) Rights Limited. Nothing in the Plan or any Award will be construed as giving any person the right to be
granted an Award or to continued employment or service with the Company or any of its subsidiaries, or any rights as a shareholder except as to shares of Stock actually issued under the Plan. The loss of existing or potential profit in any Award
will not constitute an element of damages in the event of the cessation of a Participant’s Employment for any reason, even if such cessation of Employment is in violation of an obligation of the Company or any of its subsidiaries to the
Participant. 
 (9) Coordination with Other Plans. Awards under the Plan may be granted in tandem with, or in
satisfaction of or substitution for, other Awards under the Plan or awards made under other compensatory plans or programs of the Company or its subsidiaries. For example, but without limiting the generality of the foregoing, awards under other
compensatory plans or programs of the Company or its subsidiaries may be settled in Stock (including, without limitation, Unrestricted Stock) if the Administrator so determines, in which case the shares delivered will be treated as awarded under the
Plan (and will reduce the number of shares thereafter available under the Plan in accordance with the rules set forth in Section 4). 

(10) Section 409A. 

(A) Without limiting the generality of Section 11(b) hereof, each Award will contain such terms as the
Administrator determines and will be construed and administered such that the Award either qualifies for an exemption from the requirements of Section 409A or satisfies such requirements. 

(B) Notwithstanding Section 9 of this Plan or any other provision of this Plan or any Award agreement to the
contrary, the Administrator may unilaterally amend, modify or terminate the Plan or any outstanding Award, including but not limited to changing the form of the Award, if the Administrator determines that such amendment, modification or termination
is necessary or advisable to avoid the imposition of an additional tax, interest or penalty under Section 409A. 

(C) If a Participant is deemed on the date of the Participant’s termination of Employment to be a “specified
employee” within the meaning of that term under Section 409A(a)(2)(B), then, with regard to any payment that is considered nonqualified deferred compensation under Section 409A, to the extent applicable, payable on account of a
“separation from service”, such payment will be made or provided on the date that is the earlier of (i) the expiration of the six-month period measured from the date of such “separation
from service” and (ii) the date of the Participant’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments delayed pursuant to this Section 6(a)(10)(C) (whether they would have otherwise been
payable in a single lump sum or in installments in the absence of such delay) will be paid on the first business day following the expiration of the Delay Period in a lump sum and any remaining payments due under the Award will be paid in accordance
with the normal payment dates specified for them in the applicable Award agreement. 

  
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 (D) For purposes of Section 409A, each payment made under this
Plan will be treated as a separate payment. 
 (E) With regard to any payment considered to be nonqualified deferred
compensation under Section 409A that is payable upon a change in control of the Company or other similar event, to avoid the imposition of an additional tax, interest or penalty under Section 409A, no amount will be payable unless such
change in control constitutes a “change in control event” within the meaning of Section 1.409A-3(i)(5) of the Treasury Regulations. 

(b) Stock Options and SARs. 

(1) Time and Manner of Exercise. Unless the Administrator expressly provides otherwise, no Stock Option or SAR
will be deemed to have been exercised until the Administrator receives notice of exercise in a form acceptable to the Administrator that is signed by the appropriate person and accompanied by any payment required under the Award. Any attempt to
exercise a Stock Option or SAR by any person other than the Participant will not be given effect unless the Administrator has received such evidence as it may require that the person exercising the Award has the right to do so. 

(2) Exercise Price. The exercise price (or the base value from which appreciation is to be measured) of each Award
requiring exercise must be no less than 100% (in the case of an ISO granted to a 10-percent shareholder within the meaning of subsection (b)(6) of Section 422, 110%) of the Fair Market Value of the shares
of Stock subject to the Award, determined as of the date of grant, or such higher amount as the Administrator may determine in connection with the grant. 

(3) Payment of Exercise Price. Where the exercise of an Award is to be accompanied by payment, payment of the
exercise price must be made by cash or check acceptable to the Administrator or, if so permitted by the Administrator and if legally permissible, (i) through the delivery of previously acquired unrestricted shares of Stock, or the withholding
of unrestricted shares of Stock otherwise deliverable upon exercise, in either case that have a Fair Market Value equal to the exercise price; (ii) through a broker-assisted exercise program acceptable to the Administrator; (iii) by other
means acceptable to the Administrator; or (iv) by any combination of the foregoing permissible forms of payment. The delivery of previously acquired shares of Stock in payment of the exercise price under clause (i) above may be
accomplished either by actual delivery or by constructive delivery through attestation of ownership, subject to such rules as the Administrator may prescribe. 

(4) Maximum Term. The maximum term of Stock Options and SARs must not exceed 10 years from the date of grant (or
five years from the date of grant in the case of an ISO granted to a 10-percent shareholder described in Section 6(b)(2) above). 

(5) Repricing. Except in connection with a corporate transaction involving the Company (which term includes,
without limitation, any share dividend, share split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off,
combination, or exchange of shares) or as otherwise contemplated by Section 7 below, the Company may not, without obtaining shareholder approval, (i) amend the terms of outstanding Stock Options or SARs to reduce the exercise price or base
value of such Stock Options or SARs; (ii) cancel outstanding Stock Options or SARs in exchange for Stock Options or SARs with an exercise price or base value that is less than the exercise price or base value of the original Stock Options or
SARs; or (iii) cancel outstanding Stock Options or SARs that have an exercise price or base value greater than the Fair Market Value of a share of Stock on the date of such cancellation in exchange for cash or other consideration. 

  
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	7.	 EFFECT OF CERTAIN TRANSACTIONS 

(a) Mergers, etc. Except as otherwise expressly provided in an Award agreement or by the
Administrator, the following provisions will apply in the event of a Covered Transaction: 
 (1) Assumption or
Substitution. If the Covered Transaction is one in which there is an acquiring or surviving entity, the Administrator may provide for (i) the assumption or continuation of some or all outstanding Awards or any portion thereof or
(ii) the grant of new awards in substitution therefor by the acquiror or survivor or an affiliate of the acquiror or survivor. 

(2) Cash-Out of Awards. Subject to Section 7(a)(5) below, the
Administrator may provide for payment (a “cash-out”), with respect to some or all Awards or any portion thereof, including only the then-vested portion thereof, equal in the case of each affected
Award or portion thereof to the excess, if any, of (i) the Fair Market Value of a share of Stock times the number of shares subject to the Award or such portion, over (ii) the aggregate exercise or purchase price, if any, under the Award
or such portion (or, in the case of a SAR, the aggregate base value above which appreciation is measured), in each case on such payment terms (which need not be the same as the terms of payment to holders of shares of Stock) and other terms, and
subject to such conditions, as the Administrator determines; provided, however, for the avoidance of doubt, that if the per share exercise or purchase price (or base value) of an Award is equal to or greater than the Fair Market Value
of a share of Stock, the Award may be cancelled with no payment due hereunder or otherwise in respect of such Award. 
 (3)
Acceleration of Certain Awards. Subject to Section 7(a)(5) below, the Administrator may provide that any Award requiring exercise will become exercisable, in full or in part, and/or that the delivery of any shares of Stock
remaining deliverable under any outstanding Award of Stock Units (including Restricted Stock Units and Performance Awards to the extent consisting of Stock Units) will be accelerated, in full or in part, in each case on a basis that gives the holder
of the Award a reasonable opportunity, as determined by the Administrator, following exercise of the Award or the delivery of the shares of Stock, as the case may be, to participate as a shareholder in the Covered Transaction. 

(4) Termination of Awards upon Consummation of Covered Transaction. Except as the Administrator may otherwise
determine in any case, each Award will automatically terminate (and in the case of outstanding shares of Restricted Stock, will automatically be forfeited) immediately upon consummation of the Covered Transaction, other than (i) any Award that
is assumed or substituted pursuant to Section 7(a)(1) above and (ii) any Award that by its terms, or as a result of action taken by the Administrator, continues following the Covered Transaction. 

(5) Additional Limitations. Any share of Stock and any cash or other property delivered pursuant to
Section 7(a)(2) or Section 7(a)(3) above with respect to an Award may, in the discretion of the Administrator, contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions
to which the Award was subject and that did not lapse (and were not satisfied) in connection with the Covered Transaction. For purposes of the immediately preceding sentence, a cash-out under
Section 7(a)(2) above or an acceleration under Section 7(a)(3) above will not, in and of itself, be treated as the lapsing (or satisfaction) of a performance or other vesting condition. In the case of Restricted Stock that does not vest
and is not forfeited in connection with the Covered Transaction, the Administrator may require that any amounts delivered, exchanged or otherwise paid in respect of such share in connection with the Covered Transaction be placed in escrow or
otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan. 
 (6)
Uniform Treatment. For the avoidance of doubt, the Administrator need not treat Participants or Awards (or portions thereof) in a uniform manner, and may treat different Participants and/or Awards differently, in each case, in
connection with a Covered Transaction. 

  
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 (b) Changes in and Distributions With Respect to Stock. 

(1) Basic Adjustment Provisions. In the event of a stock dividend, stock split or combination of shares (including
a reverse share split), recapitalization or other change in the Company’s capital structure that constitutes an equity restructuring within the meaning of the Accounting Rules, the Administrator shall make appropriate adjustments to the maximum
number of shares of Stock specified in Section 4(a) that may be issued under the Plan, and shall make appropriate adjustments to the number and kind of shares or securities underlying Awards then outstanding or subsequently granted, any
exercise or purchase prices (or base values) relating to Awards and any other provision of Awards affected by such change. 
 (2)
Certain Other Adjustments. The Administrator may also make adjustments of the type described in Section 7(b)(1) above to take into account distributions to shareholders other than those provided for in Section 7(a) and
7(b)(1), or any other event, if the Administrator determines that adjustments are appropriate to avoid distortion in the operation of the Plan, having due regard for the qualification of ISOs under Section 422 and the requirements of
Section 409A, to the extent applicable. 
 (3) Continuing Application of Plan Terms. References in the Plan
to shares of Stock will be construed to include any shares or securities resulting from an adjustment pursuant to this Section 7. 
  

	8.	 LEGAL CONDITIONS ON DELIVERY OF STOCK 

The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares previously
delivered under the Plan until: (i) the Company is satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding shares of Stock are at the time of
delivery listed on any stock exchange or national market system, the shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all conditions of the Award have been
satisfied or waived. The Company may require, as a condition to the exercise of an Award or the delivery of shares under an Award, such representations or agreements as counsel for the Company may consider appropriate to avoid violation of the
Securities Act of 1933, as amended, or any applicable state or non-U.S. securities law. Any shares of Stock required to be issued to Participants under the Plan will be evidenced in such manner as the
Administrator may deem appropriate, including book-entry registration or delivery of share certificates. In the event that the Administrator determines that share certificates will be issued to Participants under the Plan, the Administrator may
require that certificates evidencing shares of Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such shares, and the Company may hold the certificates pending lapse of the applicable
restrictions. 
  

	9.	 AMENDMENT AND TERMINATION 

The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by law,
and may at any time terminate the Plan as to any future grants of Awards; provided, however, that except as otherwise expressly provided in the Plan the Administrator may not, without the Participant’s consent, alter the terms of
an Award so as to affect materially and adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time the Award was granted. Any amendments to the Plan will be conditioned upon
shareholder approval only to the extent, if any, such approval is required by law (including the Code) or applicable stock exchange requirements, as determined by the Administrator. 

 

	10.	 OTHER COMPENSATION ARRANGEMENTS 

The existence of the Plan or the grant of any Award will not in any way affect the Company’s right to award a person bonuses or other
compensation in addition to Awards under the Plan. 

  
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	11.	 MISCELLANEOUS 

(a) Waiver of Jury Trial. By accepting or being deemed to have accepted an Award under the Plan, to the maximum
extent permitted by law, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver, consent, instrument, document or other
agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim will be tried before a court and not before a jury. By accepting or being deemed to have accepted an
Award under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim, seek to enforce
the foregoing waivers. Notwithstanding anything to the contrary in the Plan, nothing herein is to be construed as limiting the ability of the Company and a Participant to agree to submit disputes arising under the terms of the Plan or any Award made
hereunder to binding arbitration or as limiting the ability of the Company to require any eligible individual to agree to submit such disputes to binding arbitration as a condition of receiving an Award hereunder. 

(b) Limitation of Liability. Notwithstanding anything to the contrary in the Plan, neither the Company, nor any of
its subsidiaries, nor the Administrator, nor any person acting on behalf of the Company, any of its subsidiaries, or the Administrator, will be liable to any Participant, to any permitted transferee, to the estate or beneficiary of any Participant
or any permitted transferee, or to any other person by reason of any acceleration of income, or any additional tax (including any interest and penalties), asserted by reason of the failure of an Award to satisfy the requirements of Section 422
or Section 409A or by reason of Section 4999 of the Code, or otherwise with respect to the Award. 
  

	12.	 ESTABLISHMENT OF SUB-PLANS 

The Administrator may from time to time establish one or more sub-plans under the Plan for purposes of
satisfying applicable blue sky, securities or tax laws of various jurisdictions. The Administrator will establish such sub-plans by adopting supplements to the Plan setting forth (i) such limitations on
the Administrator’s discretion under the Plan as it deems necessary or desirable and (ii) such additional terms and conditions not otherwise inconsistent with the Plan as it deems necessary or desirable. All supplements so established will
be deemed to be part of the Plan, but each supplement will apply only to Participants within the affected jurisdiction (as determined by the Administrator). 
  

	13.	 GOVERNING LAW 

(a) Certain Requirements of Corporate Law. Awards will be granted and administered consistent with the requirements
of applicable Indiana law relating to the issuance of stock and the consideration to be received therefor, and with the applicable requirements of the stock exchanges or other trading systems on which the Stock is listed or entered for trading, in
each case as determined by the Administrator. 
 (b) Other Matters. Except as otherwise provided by the express
terms of an Award agreement, under a sub-plan described in Section 12 or as provided in Section 13(a) above, the provisions of the Plan and of Awards under the Plan and all claims or disputes arising
out of or based upon the Plan or any Award under the Plan or relating to the subject matter hereof or thereof will be governed by and construed in accordance with the domestic substantive laws of the State of Indiana without giving effect to any
choice or conflict of laws provision or rule that would cause the application of the domestic substantive laws of any other jurisdiction. 

(c) Jurisdiction. By accepting or being deemed to have accepted an Award, each Participant will be deemed to
(a) have submitted irrevocably and unconditionally to the jurisdiction of the federal and state courts located within the geographic boundaries of the United States District Court for the Northern District of Indiana for the purpose of any
suit, action or other proceeding arising out of or based upon the Plan or any Award; (b) agree not to commence any suit, action or other proceeding arising out of or based upon the Plan or an Award, except in

  
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the federal and state courts located within the geographic boundaries of the United States District Court for the Northern District of Indiana; and (c) waive, and agree not to assert, by way
of motion as a defense or otherwise, in any such suit, action or proceeding, any claim that he or she is not subject personally to the jurisdiction of the above-named courts that his or her property is exempt or immune from attachment or execution,
that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that the Plan or an Award or the subject matter thereof may not be enforced in or by such court. 

  
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 EXHIBIT A 

Definition of Terms 
 The
following terms, when used in the Plan, will have the meanings and be subject to the provisions set forth below: 
 “Accounting
Rules”: Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor provision. 

“Administrator”: The Compensation Committee, except with respect to such matters that are not delegated to the Compensation
Committee by the Board (whether pursuant to committee charter or otherwise). The Compensation Committee (or the Board, with respect to such matters over which it retains authority under the Plan or otherwise) may delegate (i) to one or more of
its members (or one or more other members of the Board (including the full Board)) such of its duties, powers and responsibilities as it may determine; (ii) to one or more officers of the Company the power to grant Awards to the extent
permitted by applicable law; and (iii) to such Employees or other persons as it determines such ministerial tasks as it deems appropriate. In the event of any delegation described in the preceding sentence, the term “Administrator”
will include the person or persons so delegated to the extent of such delegation. 
 “Award”: Any or a combination of the
following: 
 (i) Stock Options. 

(ii) SARs. 
 (iii) Restricted
Stock. 
 (iv) Unrestricted Stock. 

(v) Stock Units, including Restricted Stock Units. 

(vi) Performance Awards. 

(viii) Awards (other than Awards described in (i) through (vi) above) that are convertible into or otherwise based on Stock. 

“Board”: The Board of Directors of the Company. 

“Cause”: In the case of any Participant who is party to an offer letter or employment or severance-benefit agreement that
contains a definition of “Cause,” the definition set forth in such letter or agreement applies with respect to such Participant for purposes of the Plan for so long as such letter or agreement is in effect. In every other case,
“Cause” means, as determined by the Administrator, (i) refusal or failure to perform (other than by reason of disability), or material negligence in the performance of, the Participant’s duties and responsibilities to the Company
or its subsidiaries, which refusal or failure to perform or material negligence is not cured within 30 days after written notice from the Company or such subsidiaries; (ii) the Participant’s commission of, indictment for, conviction of or
plea of guilty or nolo contendere to a felony or any crime involving moral turpitude, fraud, embezzlement or theft; (iii) breach of fiduciary duties (including a violation of the Company’s or any of its subsidiary’s code of ethics) on
the part of the Participant; (iv) the Participant’s gross negligence or willful misconduct in the performance of employment, which negligence or misconduct is not cured within 30 days after written notice from the Company, and which
willful act or misconduct could reasonably be expected to be injurious to the financial condition or business reputation of the Company or any of its subsidiaries; (v) the 

  
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material breach by the Participant of any provision of any agreement to which such Participant and the Company or any or its subsidiaries are party; or (vi) breach by the Participant of the
terms of a non-competition, non-solicitation, confidentiality or other restrictive covenant by which he or she is bound. 

“Code”: The U.S. Internal Revenue Code of 1986, as from time to time amended and in effect, or any successor statute as from
time to time in effect. 
 “Compensation Committee”: The Compensation Committee of the Board. 

“Company”: Skyline Champion Corporation. 

“Covered Transaction”: Any of (i) a consolidation, merger, or similar transaction or series of related transactions,
including a sale or other disposition of stock, in which the Company is not the surviving corporation or which results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single person or entity or
by a group of persons and/or entities acting in concert, (ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company. Where a Covered Transaction involves a tender
offer that is reasonably expected to be followed by a merger described in clause (i) (as determined by the Administrator), the Covered Transaction will be deemed to have occurred upon consummation of the tender offer. 

“Date of Adoption”: The earlier of the date the Plan was approved by the Company’s shareholders or adopted by the Board,
as determined by the Committee. 
 “Director”: A member of the Board who is not an Employee. 

“Disability”: In the case of any Participant who is a party to an employment or severance-benefit agreement that contains a
definition of “Disability,” the definition set forth in such agreement shall apply with respect to such Participant under the Plan for so long as such agreement is in effect. In the case of any other Participant, “Disability”
shall mean a disability that would entitle a Participant to long-term disability benefits under the Company’s long-term disability plan to which the Participant participates. 

“Employee”: Any person who is employed by the Company or any of its subsidiaries. 

“Employment”: A Participant’s employment or other service relationship with the Company or any of its subsidiaries.
Employment will be deemed to continue, unless the Administrator otherwise determines, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 5 to, the Company or any of its subsidiaries.
If a Participant’s employment or other service relationship is with any subsidiary of the Company and that entity ceases to be a subsidiary of the Company, the Participant’s Employment will be deemed to have terminated when the entity
ceases to be a subsidiary of the Company unless the Participant transfers Employment to the Company or one of its remaining subsidiaries. Notwithstanding the foregoing, in construing the provisions of any Award relating to the payment of
“nonqualified deferred compensation” (subject to Section 409A) upon a termination or cessation of Employment, references to termination or cessation of employment, separation from service, retirement or similar or correlative terms
will be construed to require a “separation from service” (as that term is defined in Section 1.409A-1(h) of the Treasury Regulations, after giving effect to the presumptions contained therein)
from the Company and from all other corporations and trades or businesses, if any, that would be treated as a single “service recipient” with the Company under Section 1.409A-1(h)(3) of the
Treasury Regulations. The Company may, but need not, elect in writing, subject to the applicable limitations under Section 409A, any of the special elective rules prescribed in Section 1.409A-1(h) of
the Treasury Regulations for purposes of determining whether a “separation from service” has occurred. Any such written election will be deemed a part of the Plan. 

“Fair Market Value”: As of a particular date, (i) the closing price for a share of Stock reported on the New York Stock
Exchange (or any other national securities exchange on which the Stock is then listed) on that date 

  
 11 

 
or, if no closing price is reported for that date, the closing price on the immediately preceding date on which a closing price was reported or (ii) in the event that the Stock is not traded
on a national securities exchange, the fair market value of a share of Stock determined by the Administrator consistent with the rules of Section 422 and Section 409A to the extent applicable. 

“ISO”: A Stock Option intended to be an “incentive stock option” within the meaning of Section 422. Each Stock
Option granted pursuant to the Plan will be treated as providing by its terms that it is to be an NSO unless, as of the date of grant, it is expressly designated as an ISO. 

“NSO”: A Stock Option that is not intended to be an “incentive stock option” within the meaning of
Section 422. 
 “Participant”: A person who is granted an Award under the Plan. 

“Performance Award”: An Award subject to performance vesting conditions, including based on Performance Criteria. 

“Performance Criteria”: Specified criteria, other than the mere continuation of Employment or the mere passage of time, the
satisfaction of which is a condition for the grant, exercisability, vesting or full enjoyment of an Award. A Performance Criterion and any targets with respect thereto determined by the Administrator need not be based upon an increase, a positive or
improved result or avoidance of loss and may be applied to the Participant individually, or to a business unit or division of the Company as a whole and may relate to any or any combination of the following or any other criterion or criteria
determined by the Administrator (measured either absolutely or comparatively (including, without limitation, by reference to an index or indices or the performance of one or more companies) and determined either on a consolidated basis or, as the
context permits, on a divisional, subsidiary, line of business, project or geographical basis or in combinations thereof and subject to such adjustments, if any, as the Administrator specifies): sales; revenues; assets; expenses; earnings before or
after deduction for all or any portion of interest, taxes, depreciation, amortization or equity expense whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment, capital, capital employed or assets;
one or more operating ratios; operating income or profit, including on an after-tax basis; net income; borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; stock
price; stockholder return; sales of particular services; customer acquisition or retention; acquisitions and divestitures (in whole or in part); joint ventures and strategic alliances; spin-offs, split-ups and
the like; reorganizations; center openings (including openings in new markets); new service or product lines; or recapitalizations, restructurings, financings (issuance of debt or equity) or refinancings. The Administrator may provide in the case of
any Performance Award that one or more of the Performance Criteria applicable to such Award will be adjusted to reflect events (for example, but without limitation, the impact of charges for restructurings, discontinued operations, mergers,
acquisitions, and other unusual or infrequently occurring items, and the cumulative effects of tax or accounting changes) occurring during the performance period that affect the applicable Performance Criterion or Criteria. 

“Plan”: Skyline Champion Corporation 2018 Equity Incentive Plan, as from time to time amended and in effect. 

“Restricted Stock”: Stock subject to restrictions requiring that it be redelivered or offered for sale to the Company if
specified time or performance or other vesting conditions are not satisfied. 
 “Restricted Stock Unit”: A Stock Unit that
is, or as to which the delivery of Stock or cash in lieu of Stock is, subject to the satisfaction of specified time or performance or other vesting conditions. 

  
 12 

 “SAR”: A right entitling the holder upon exercise to receive an amount
(payable in cash or in shares of Stock of equivalent value) equal to the excess of the Fair Market Value of the shares of Stock subject to the right over the base value from which appreciation under the SAR is to be measured. 

“Section 409A”: Section 409A of the Code. 

“Section 422”: Section 422 of the Code. 

“Stock”: Common stock of the Company, par value $0.0277 per share. 

“Stock Option”: An option entitling the holder to acquire shares of Stock upon payment of the exercise price. 

“Stock Unit”: An unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash measured by the
value of Stock in the future. 
 “Substitute Award”: An Award issued under the Plan in substitution for one or more equity
awards of an acquired company that are converted, replaced, or adjusted in connection with the acquisition. 
 “Unrestricted
Stock”: Stock not subject to any restrictions under the terms of the Award. 

  
 13Exhibit 10.1

 

PAYPLANT LOAN AND SECURITY
AGREEMENT

 

THIS LOAN AND SECURITY AGREEMENT (this “Agreement”),
is entered into between Payplant LLC (“Payplant”), a Delaware limited liability company, as agent for Payplant Alternatives
Fund LLC, a Delaware limited liability company (“Lender”), and Sysorex, Inc., a Nevada corporation and
successor-in-interest by merger to Inpixon USA, a California corporation, with offices at 2479 East Bayshore Road, Suite 195, Palo
Alto, CA 94303 (“Sysorex”) and Sysorex Government Services, Inc., a Virginia corporation, with offices at 2479 East
Bayshore Road, Suite 195, Palo Alto, CA 94303 (“SGS” and together with Sysorex, jointly and severally, the “Borrower”),
effective upon the date of signature by Borrower to this Agreement.

 

Borrower and Lender hereby agree as follows:

 

SECTION 1 Definitions; Interpretation.

 

(a) As used in this Agreement, the following terms shall have
the following meanings:

 

“ACH” has the meaning specified
in Section 2(e).

“Debtor” means, with respect
to any Receivable, any Person obligated to pay such Receivable.

 

“Agreement” has the meaning
specified in the preamble.

 

“Associated Rights” means any and
all of the Borrower’s right, title and interest in relation to any Purchased Receivable including, in each case, to the extent
related to such Receivable:

 

(a) all Security Interests in the relevant goods arising
by law or by agreement with the related Debtor for the purpose of securing payment of the related Invoice Face Amount, including
retention of title rights, if applicable;

 

(b) all rights, remedies and privileges under the related
contract;

 

(c) all documents of title to goods, warehouse keepers’
receipts, bills of lading, shipping documents, airway bills or similar documents, if applicable;

 

(d) all Collection Proceeds and other remittances and
payments of or on account of Collections of such Receivable, and any related securities, bonds, guarantees, indemnities and letters
of credit, including direct debit rights if applicable; and

 

(e) all of the Borrower’s interest in any returned
goods related to any sale giving rise to such Receivable and any proceeds of sale thereof.

 

“Borrower” has the meaning
specified in the preamble.

 

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“Borrower Agreement” means
that certain Borrower Agreement between Borrower and Lender, as the same may be amended, restated, supplemented, or otherwise modified
from time to time.

 

“Cash Flow Plan” means a plan approved
by the Borrower’s Board, showing that the Borrower will be solvent through the end of April 30, 2016, assuming no other capital
injections other than the capital provided by Payplant.

 

“Collateral” has the meaning specified
in Section 3.

 

“Collateral Documents”
means all agreements, instruments or documents that create or purport to create a Lien or guaranty in favor of Lender and all filings,
documents, instruments and agreements made or delivered pursuant thereto (including, without limitation, any Guarantor Security
Agreement).

 

“Collection Expenses” means
Lender’s out-of-pocket costs and expenses in pursuing collection from Borrowers, Debtors , including Lender’s reasonable
outside counsel fees, collection agency fees, court costs, and other third-party expenditures.

 

“Collection Proceeds” means all funds
and money collected from the Debtor, the Borrower or from any other obligated Person, or from the exercise of Enforcement Rights
with respect to or in any way accruing from a Purchased Receivable.

 

“Consummate” or “Consummation”
means the completed purchase and True Sale of a Receivable to Lender.

 

“Loan Amount” has the meaning specified
in Section 2(b).

 

“Debtor Relief Laws” means
the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of
creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States
or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.

 

“Designated Accounts” has the meaning
specified in Section 2(f).

 

“Disclosures” means the Privacy
Policy, Terms of Use and Borrower Agreement.

 

“Divert” or “Diversion”
means any action or inaction on the part of a Borrower which results in all or any portion of the Collection Proceeds of any
Purchased Receivable, or in all or any portion of Other Proceeds of Other Receivables that the Registered Debtor is instructed
to pay into the Lender controlled Lockbox Account, being used by the Borrower or any Affiliate of Borrower for any purpose other
than payment and transmittal to Lender. Divert or Diversion additionally includes (i) any action or inaction on the part of a Borrower
which results in a setoff of the Registered Debtor’s Invoice Payment Obligation against any obligation that the Borrower
may owe to the Debtor, (ii) any Borrower instruction to a Registered Debtor not to make Invoice payments into the Lockbox Account,
or (iii) the Borrower’s reissuance of an Invoice evidencing a Purchased Receivable without notifying Lender and without making
immediate payment as required under Section 18(B) of this Agreement.

 

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“Enforcement Rights” mean
and include all available enforcement rights and remedies following an Event of Default, Enforcement rights further include default
rights and remedies that may be asserted against the property of a third Person to satisfy an indebtedness.

 

“Event of Default” has the
meaning specified in Section 8.

 

“Face Value” means the principal amount
of the Purchased Receivable that is billed to or that is otherwise owed by the Debtor.

 

“Funding Date” means the
date that net Loan proceeds are received by Borrower, after a Loan is funded under Section 2(c) subject to the terms and
conditions of this Agreement.

 

“GAAP” means generally accepted accounting
principles in the United States as in effect from time to time.

 

“Good Funds” means funds that (i)
have been collected by means of the drawee bank’s full, final and irrevocable payment of one or more checks, drafts or monetary
instruments, and (ii) are immediately available to be electronically transferred from the depositor’s account to a third
party.

 

“Indemnitees” has the meaning specified
in Section 12.

 

“Invoice” means a legal debt instrument
which indicates the Face Value due from an Debtor to pay the Borrower for delivered goods or services.

 

“Insolvency” means with respect to
any Person on a particular date, that

 

(a) such Person is unable to realize upon its property
and assets and pay its debts and other liabilities (including disputed, contingent and unliquidated liabilities) as they mature
in the normal course of business, or

 

(b) such Person has made a transfer or incurred an obligation
with the intent to hinder, delay or defraud any of its present or future creditors.

 

The amount of contingent liabilities (such as litigation, guarantees
and pension plan liabilities) at any time shall be computed as the amount that, in light of all the facts and circumstances existing
at the time, represents the amount that can be reasonably expected to become an actual or matured liability.

 

“Insolvent” means, with respect to
a Person, the fact that such Person is in Insolvency.

 

“Loan Request” means a loan request
submitted by Borrower to Lender, substantially in form and substance satisfactory to Lender.

 

“Interest Rate” has the meaning specified
in Section 2(e).

 

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“Invoice” means a legal debt instrument
which indicates the Face Value due from an Debtor to pay the Borrower for delivered goods or services.

 

“Invoice Payment” means any payment
made by an Debtor under an Invoice.

 

“Invoice Payment Obligation” means
an Debtor’s obligation to pay the Invoice Face Value under a Receivable sold to Lender.

 

“Client Key Principal” means an owner
or executive officer (i.e., president, manager, chief executive officer, chief financial officer, or officer performing executive
management functions) of the Borrower as specified in Exhibit B.

 

“Lender” has the meaning specified
in the preamble.

 

“Lien” means any mortgage,
deed of trust, pledge, security interest, assignment, deposit arrangement, charge or encumbrance, lien (statutory or other), or
other preferential arrangement (including, without limitation, any conditional sale or other title retention agreement, any financing
lease having substantially the same economic effect as any of the foregoing or any agreement to give any security interest).

 

“Loan” has the meaning specified in
Section 2(b).

 

“Loan Documents” means,
collectively, this Agreement, all Notes, all Guaranties, the Loan Requests, the Borrower Agreement, the Collateral Documents and
all other agreements, instruments and documents now or hereafter executed and delivered to Lender with respect to this Agreement,
the transactions contemplated hereby or any other Loan Document, in each case as amended, restated, supplemented or otherwise modified
from time to time.

 

“Lockbox Account” means the depository
account maintained by Lender into which Collection Proceeds and other sums shall be deposited.

 

“Manager” means Payplant
LLC, a Delaware limited liability company.

 

“Material Adverse Effect”
on any Person means a material adverse effect on the operations, properties, business, condition (financial or otherwise) or prospects
of such Person.

 

“Material Litigation” means any action,
claim, lawsuit, demand, inquiry, investigation or proceeding that is brought against the Borrower or its Affiliate, in which the
amount in controversy exceeds 25% of Borrower’s, or its Affiliate’s then net worth.

 

“Material Obligation” means a payment
or performance obligation of a Borrower, which in the event of the Borrower’s default, would likely jeopardize Borrower’s
ability to continue to conduct its business as previously conducted.

 

“Maturity Date” has the meaning specified
in Section 2(a).

 

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“Maximum Rate” means the
maximum interest rate, if any, that at any time, or from time to time, may be contracted for, taken, reserved, charged, or received
on the Loan under the laws which are presently in effect of the United States and any jurisdiction thereof applicable to Lender
and such indebtedness or, to the extent permitted by law, under such applicable laws of the United States and any jurisdiction
thereof which may hereafter be in effect and which allow a higher maximum interest rate than applicable laws now allow. To the
extent federal law (including, without limitation, 12 U.S.C. Section 85, as now enacted or hereafter amended) permits Lender to
contract for, charge or receive a higher rate of interest or permits Lender to contract for, charge or receive interest at a higher
rate permitted by the laws of another jurisdiction, such federal law (and, if appropriate, the law of such other jurisdiction)
will be applicable in determining the Maximum Rate, instead of the laws of any other jurisdiction.

 

“Note” means the promissory
note in Exhibit A attached hereto made by Borrower in favor of Lender, as amended, restated, supplemented or otherwise modified
from time to time.

 

“Obligations” means all
indebtedness, liabilities and other obligations of Borrower to each of Lender and Manager, whether created under, arising out of
or in connection with this Agreement, any Note, any of the other Loan Documents or otherwise, including, without limitation, all
unpaid principal of the Loan, all interest accrued thereon, all fees and all other amounts payable by Borrower to Lender under
or in connection with any Loan Agreement, whether now existing or hereafter arising, and whether due or to become due, absolute
or contingent, liquidated or unliquidated, determined or undetermined, and including interest that accrues after the commencement
by or against Borrower of any bankruptcy or insolvency proceeding naming such Person as the debtor in such proceeding.

 

“Other Proceeds” means and includes
Invoice Payments received from Registered Debtors that are attributable to the Borrower’s Other Receivables not sold to Lender.

 

“Other Receivables” means and includes
Borrower Receivables that are not sold on the Platform.

 

“Payplant” means Payplant LLC. Payplant
LLC is the Managing Member of Payplant Alternatives Fund LLC. Payplant Alternatives Fund LLC is the Lender. To the extent necessary
for any reason, including enforcement of any obligation in this agreement, Borrower acknowledges and agrees that Payplant Alternatives
Fund LLC may enforce any provisions in this agreement directly or through Payplant LLC as its Agent and/or representative.

 

“Permitted Lien” means:
(i) any Lien in favor of Lender to secure the Obligations of Borrower to Lender under the Loan Documents; (ii) Liens for taxes,
fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate
proceedings and which are adequately reserved for in accordance with GAAP; (iii) Liens of material men, mechanics, warehousemen,
carriers or employees or other like Liens arising in the ordinary course of business and securing obligations either not delinquent
or being contested in good faith by appropriate proceedings which are adequately reserved for in accordance with GAAP and which
do not in the aggregate materially impair the use or value of the property or risk the loss or forfeiture of title thereto; (iv)
Liens consisting of deposits or pledges to secure the payment of worker’s compensation, unemployment insurance or other social
security benefits or obligations, or to secure the performance of bids, trade contracts, leases, public or statutory obligations,
surety or appeal bonds or other obligations of a like nature, in each case incurred in the ordinary course of business; (v) statutory
landlord’s Liens under leases to which Borrower is a party; (vi) Liens (A) upon or in any equipment, computers or software
acquired or held by Borrower or any of its Subsidiaries or tenant improvements implemented by Borrower or any of its Subsidiaries
to secure the purchase price of such equipment, computers or software or Indebtedness incurred solely for the purpose of financing
the acquisition of such equipment, computers or software or the implementation of such tenant improvements, or (B) existing on
such equipment, computers or software at the time of its acquisition; provided that, the Lien is confined solely to the
property so acquired and improvements thereon, or the proceeds of such equipment, computers, software or tenant improvements; and
(vii) Liens on deposit accounts or securities accounts (and the contents thereof), in favor of the financial institution at which
such account is located, arising in the ordinary course of business and pursuant to such financial institution’s standard
terms and conditions governing such account.

 

    	5 of 35	 

     

    

 

“Person” means any individual, sole
proprietorship, partnership, joint venture, unincorporated organization or association, trust, corporation (including a business
or statutory trust), limited liability company, institution, public benefit corporation, joint stock company, firm, body corporate,
authority, Governmental Authority, or any other entity of whatever nature.

 

“Platform” means all related Payplant internet
and electronic products including the Payplant website, Payplant Receivables purchase application and Payplant code.

 

“Privacy Policy” means the privacy
policy delivered and/or made available to Borrower, as the same may be amended, restated, supplemented, or otherwise modified from
time to time.

 

“Purchased Receivable” means any Receivable
that has been sold to Payplant on the Platform.

 

“Receivable” means and includes the
Borrower’s accounts, contract rights, general intangibles, payment intangibles and all other forms of payment obligations
owing to Borrower, and further includes the Borrower’s Associated Rights.

 

“Registered Debtor” means a Debtor
that is registered by the Borrower on the Platform.

 

“Security Interest” means a consensual
Lien in the Borrower’s Purchased Receivables and other Borrower Collateral granted under the UCC.

 

“Subsidiary” of a Person
means any corporation, association, partnership, limited liability company, joint venture or other business entity of which more
than 50% of the voting stock or other equity interest is beneficially owned, directly or indirectly, by such Person or one or more
of the other Subsidiaries of such Person or a combination thereof. Unless otherwise specified, all references herein to a “Subsidiary”
or “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of Borrower.

 

    	6 of 35	 

     

    

 

“Terms of Use” means the
terms of use delivered and/or made available to Borrower, as the same may be amended, restated, supplemented, or otherwise modified
from time to time.

 

“True Sale” means the sale for all
purposes of absolute ownership of a Receivable, with the Borrower retaining no residual rights, title, interest or control (whether
legal, equitable or beneficial) therein, and with all of the Borrower’s rights, title and ownership interests being fully
transferred to and vesting in Lender.

 

“UCC” means the Uniform Commercial
Code as in effect in California and other applicable jurisdictions.

 

SECTION 2 Loan.

 

(a) Loan Request. To request a Loan, Borrower
shall submit an Initial Loan Request to Lender, which Initial Loan Request shall include, among other items, the requested term
of the Loan, which shall be no longer than 360 days (the date that is the last day of the period beginning on the date on which
a Loan is funded (if funded) and ending on the last day of such requested term, the “Maturity Date” of
such Loan), and Loan Amount. Borrower acknowledges that Lender reserves the right to review and verify all information in the Initial
Loan Request and such other information as Lender may request in connection with such Initial Loan Request. Borrower hereby authorizes
Lender to request and obtain data from third parties to verify any information provided to Lender, including in the Initial Loan
Request. Borrower acknowledges that Lender may approve or terminate the Initial Loan Request in its sole discretion. BORROWER ACKNOWLEDGES
AND AGREES THAT NEITHER LENDER NOR ANY OTHER PERSON WARRANTS OR GUARANTEES THAT ANY LOAN REQUEST OF BORROWER WILL BE FUNDED.

 

(b) Loan Funding. Lender in its sole discretion
may decide to make or not make a loan (the “Loan”) to Borrower with a principal balance, the “Loan
Amount”. If a loan is made, Borrower promises to pay to Lender the Loan Amount and all other Obligations now or hereafter
owing to Lender under the Loan Documents.

 

(c) Notes; Guaranty. In addition to and subject
to the foregoing, prior to making the Loan, Lender shall have received, in each case in form and substance satisfactory to Lender:

(i) One or more Notes executed by Borrower or by
Borrower’s attorney-in-fact in favor of Lender, the amount of which shall equal the total Loan amount;

 

(ii) One or more Guaranties executed in favor of Lender, as
required by Lender or Manager; and

 

(iii) Such other documents and evidence of the completion of
such other matters as Lender may request.

 

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(d) Fees:

 

(i)
Wire Fee: $12

 

(ii)
UCC Termination Fee: $150

 

(iii)
Due Diligence Fee. Fee paid by the Borrower to the Lender in order to perform business and officer background checks, with
applicable authorizations, including but not limited to credit, criminal history, lien searches and filings, bankruptcy and court
filings, and other 3rd party verifications deemed necessary by Lender. The Due Diligence fee must be paid by borrower
prior to initial funding and is not refundable.

 

(e) Interest. The principal amount of the
Loan shall accrue interest at a 30 day rate of 2%  (the “Interest Rate”), calculated per day and,
when combined with all fees that may be characterized as interest will not exceed the Maximum Rate; provided further, that
upon the occurrence and during the continuance of an Event of Default, such interest shall accrue at a rate equal to the Interest
Rate plus 0.42% per 30 days provided that such default rate of interest, when combined with all fees that may be characterized
as interest, will not exceed the Maximum Rate. All computations of interest shall be made on the basis of a year of 360 days.

 

(f) Repayment. Borrower hereby agrees to pay
to Lender combined principal and interest, in an amount that will fully pay the Loan in full on or before the Maturity Date. Borrower
hereby authorizes Lender, its agents and affiliates and their respective successors and assigns to debit the Designated Accounts
specified in Exhibit D, by ACH transfer for the amount of such loan payment if the payment is not received within 5 (five) days
of the Maturity Date. The foregoing authorization is in addition to, and not in limitation of, any rights of setoff that Lender
or its agents, affiliates and their respective successors and assigns may have. Borrower shall have the right to terminate such
ACH authorization or to change its Designated Accounts for such ACH transfers by notifying Lender at least ten (10) business days
prior to such termination or change in Designated Accounts. All payments received by Lender shall be applied to principal and interest
as set forth above; provided that, upon the occurrence and during the continuance of an Event of Default, payments shall
be applied to the Obligations in Lender’s sole discretion. Borrower shall pay in full in immediately available funds the
aggregate amount of the Obligations on the earlier of (i) the Maturity Date and (ii) any date on which the Obligations are accelerated
in accordance with the terms hereof.

 

(h) Fee Payment. Borrower agrees to pay the
Due Diligence Fee as set forth in Section 2(d) in accordance with the terms of such Section. Borrower agrees to pay a fee
of $20 if any ACH transfers or checks are returned or fail due to insufficient funds or for any other reason. If any payment is
more than ten (10) days late, Lender may charge, and if any payment is more than fifteen (15) days late, Lender shall charge, and
in each case Borrower agrees to pay, a fee in the amount equal to five percent (5%) of the total amount of such late payment. Borrower
agrees that any of the foregoing fees may be collected using ACH transfers initiated by Lender from the Designated Accounts.

 

(i) Prepayment; Premium. Borrower shall have
the right to prepay the Loan from time to time; provided that the amount of such prepayment and the applicable premium is
at least 30 days of interest and prepayment shall be paid to Lender in immediately available funds.

 

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(j) Maximum Interest. Borrower and Lender
intend to strictly comply with all applicable laws, including applicable usury laws. Accordingly, the provisions of this Section
2(j) shall govern and control over every other provision of this Agreement or any other Loan Document which conflicts or is
inconsistent with this Section 2(j), even if such provision declares that it controls. As used in this Section 2(j),
the term “interest” includes the aggregate of all charges, fees, benefits or other compensation which constitute interest
under applicable law, provided that, to the maximum extent permitted by applicable law, (i) any non-principal payment shall
be characterized as an expense or as compensation for something other than the use, forbearance or detention of money and not as
interest, and (ii) all interest at any time contracted for, reserved, charged or received shall be amortized, prorated, allocated
and spread, in equal parts, during the full term of the Obligations. In no event shall Borrower or any other Person be obligated
to pay, or Lender have any right or privilege to reserve, receive or retain, (i) any interest in excess of the maximum amount of
non-usurious interest permitted under the laws of the State of California or the applicable laws (if any) of the U.S. or of any
other applicable state, or (ii) total interest in excess of the amount which Lender could lawfully have contracted for, reserved,
received, retained or charged had the interest been calculated for the full term of the Obligations at the Maximum Rate. On each
day, if any, that the interest rate (the “Stated Rate”) stipulated by this Agreement or any other Loan
Document exceeds the Maximum Rate, the rate at which interest shall accrue shall automatically be fixed by operation of this sentence
at the Maximum Rate for that day, and shall remain fixed at the Maximum Rate for each day thereafter until the total amount of
interest accrued equals the total amount of interest which would have accrued if there were no such ceiling rate as is imposed
by this sentence. Thereafter, interest shall accrue at the Stated Rate unless and until the Stated Rate again exceeds the Maximum
Rate when the provisions of the immediately preceding sentence shall again automatically operate to limit the interest accrual
rate. None of the terms and provisions contained in this Agreement or in any other Loan Document which directly or indirectly relate
to interest shall ever be construed without reference to this Section 2(j), or be construed to create a contract to pay
for the use, forbearance or detention of money at an interest rate in excess of the Maximum Rate. If the term of any Obligation
is shortened by reason of acceleration of maturity as a result of any Event of Default or by any other cause, or by reason of any
required or permitted prepayment, and if for that (or any other) reason Lender at any time, including but not limited to, the stated
maturity, is owed or receives (and/or has received) interest in excess of interest calculated at the Maximum Rate, then and in
any such event all of any such excess interest shall be canceled automatically as of the date of such acceleration, prepayment
or other event which produces the excess, and, if such excess interest has been paid to Lender, it shall be credited pro tanto
against the outstanding principal balance of Borrower’s obligations to Lender, effective as of the date or dates when the
event occurs which causes it to be excess interest, until such excess is exhausted or all of such principal has been fully paid
and satisfied, whichever occurs first, and any remaining balance of such excess shall be promptly refunded to its payor.

 

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SECTION 3 Security Interest. As security
for the payment and performance of the Obligations (whether now existing or hereafter arising), Borrower hereby grants to Lender
a security interest in all of Borrower’s right, title and interest in, to and under all of its personal property, wherever
located and whether now existing or owned or hereafter acquired or arising, including the following (collectively, the “Collateral”):

 

1. All of Borrower’s present and future accounts, payment
intangibles, chattel, paper, instruments, commercial tort claims identified in writing to Payplant, contracts, letter-of-credit
rights, and other receivables, of all types and descriptions (individually and collectively, "Additional Receivables")
; and

 

2. All of Borrower’s present and future inventory, equipment
of all types and descriptions and property including investment property; and

 

3. All of Borrower’s present and future general intangibles
of all types and descriptions, including all intellectual property, books, records, files, computer programs, etc. relating to
the foregoing; and

 

4. All of Borrower’s cash and cash equivalents, deposit
accounts, securities accounts; and

 

5. All proceeds (including, without limitation, proceeds of
insurance covering any of the foregoing or other property resulting from the sale, exchange, collection, or other disposition of
any of the foregoing) and supporting obligations of any and all of the foregoing.

 

This Agreement shall create a continuing security
interest in the Collateral which shall remain in effect until terminated in accordance with Section 14.

 

SECTION 4 Financing Statements;
Rights of Lender; Authorization and Appointment.

 

(a) Borrower hereby authorizes Lender to file
at any time and from time to time any financing statements and other applicable documents and instruments (including, without limitation,
with respect to intellectual property) describing the Collateral, and Borrower shall execute and deliver to Lender, and Borrower
hereby authorizes Lender to file (with or without Borrower’s signature), at any time and from time to time, all amendments
to financing statements, assignments, continuation financing statements, termination statements and other documents and instruments,
in form reasonably satisfactory to Lender, as Lender may reasonably request, to perfect and continue perfected, maintain the priority
of or provide notice of the security interest of Lender in the Collateral and to accomplish the purposes of this Agreement. Without
limiting the generality of the foregoing, Borrower ratifies and authorizes the filing by Lender of any financing statements and
any other applicable documents or instruments filed prior to the date hereof.

 

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(b) Lender shall have the right to, in the name
of Borrower, or in the name of Lender or otherwise, and Borrower hereby constitutes and appoints Lender (and any of Lender’s
officers, employees or agents designated by Lender) as Borrower’s true and lawful attorney-in-fact, with full power and authority
to execute any and all such documents and instruments (including without limitation any endorsement to any certificate of title
or ownership or other document), make such filings, and do any and all acts and things for and on behalf of Borrower, which Lender
may deem reasonably necessary or advisable to maintain, protect, perfect, realize upon and preserve the Collateral and Lender’s
security interest therein and to accomplish the purposes of this Agreement. Lender agrees that, except upon the occurrence and
during the continuance of an Event of Default, it shall not exercise the power of attorney, or any rights granted to Lender, pursuant
to this Section. The foregoing power of attorney is coupled with an interest and irrevocable so long as the Obligations have not
been paid and performed in full. Borrower hereby ratifies, to the extent permitted by law, all that Lender shall lawfully and in
good faith do or cause to be done by virtue of and in compliance with this Section.

 

SECTION 5 Representations and Warranties.
Borrower represents and warrants to Lender that:

 

(a) Existence, Qualification and Power. Borrower
is duly organized or formed, asthe case may be, validly existing and in good standing under the laws of the jurisdiction of its
incorporation or formation, as applicable, and has all requisite power and authority to execute, deliver and perform its obligations
under this Agreement and the other Loan Documents to which it is a party. Borrower is qualified and licensed to do business and
is in good standing in each jurisdiction in which the failure so to qualify or be in good standing could reasonably be expected
to have a Material Adverse Effect on Borrower, and has all requisite power and authority to own its assets and carry on its business.

 

(b) Authorization; No Contravention. The
execution, delivery and performance by Borrower of this Agreement and each other Loan Document to which Borrower is a party have
been duly authorized by all necessary action of Borrower and do not and will not: (i) contravene the terms of the articles or certificate
of incorporation, or bylaws, or other applicable organizational documents, of Borrower, or result in a breach of or constitute
a default under any material lease, instrument, contract or other agreement to which Borrower is a party or by which it or its
properties may be bound or affected; or (ii) violate any provision of any law, rule, regulation, order, judgment, decree or the
like binding on or affecting Borrower.

 

(c) Enforceability. This Agreement and each
other Loan Document to which Borrower is a party constitutes the legal, valid and binding obligation of Borrower, enforceable against
Borrower in accordance with its terms.

 

(d) Governmental; Other Authorization. No authorization,
consent, approval, license, exemption of, or filing or registration with, any governmental agency or authority, or approval or
consent of any other person or entity, is required for the due execution, delivery or performance by Borrower of this Agreement
or any other Loan Document to which Borrower is a party, except for recordings or filings in connection with the perfection of
the Liens on the Collateral in favor of Lender.

 

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(e) No Breach. Borrower is not in breach
of any obligation with respect to borrowed money, any purchase money obligation or any other material lease, commitment, contract,
instrument or obligation.

 

(f) Material Litigation. Except as previously disclosed
to Lender in writing, there is no Material Litigation pending or threatened against or affecting Borrower or its properties, and
neither Borrower nor any Affiliate of Borrower is in default under any Material Obligation. Specifically, Borrower is not in material
default under any loan or credit agreement, and is not subject to, or has not been requested or required to enter into any type
of forbearance or similar agreement with any creditor.

 

(g) Taxes. Borrower has duly filed all tax
and information returns required to be filed, and has paid all taxes, fees, assessments and other governmental charges or levies
that have become due and payable, except to the extent such taxes or other charges are being contested in good faith and are adequately
reserved against in accordance with GAAP.

 

(h) Permits. Borrower possesses all material
permits, franchises, licenses, patents, trademarks, trade names, service marks, copyrights and all rights with respect thereto,
free from burdensome restrictions that are necessary for the ownership, maintenance and operation of its business and Borrower
is not in material violation of any rights of others with respect to the foregoing.

 

(i) Insurance. The properties of Borrower
are insured, with financially sound and reputable insurance companies, in such amounts, with such deductibles and covering such
risks as is customarily carried by companies engaged in similar businesses and owning similar properties in the localities where

Borrower operates.

 

(j) Ownership of Property. Borrower has
good and marketable title to, or valid and subsisting leasehold interests in, its properties and assets, including all property
forming a part of the Collateral, and there is no Lien upon or with respect to any of such properties or assets, including any
of the Collateral, except for Permitted Liens.

 

(k) Solvency; Bankruptcy

 

(i) . Borrower is not Insolvent at the time of, and will
not be rendered Insolvent after giving effect to this Agreement.

 

(ii). Borrower is not in bankruptcy, and Client Key Principals
do not contemplate placing Borrower in bankruptcy or seeking protection under any bankruptcy, insolvency or orderly liquidation
law.

 

(l) Compliance with Laws. Borrower is in
compliance with all material laws, rules, regulations, orders and decrees which are applicable to it or its properties.

 

(m) Location. Borrower’s (i) chief executive
office and principal place of business (as of the date of this Agreement), (ii) jurisdiction of organization and organizational
identification number and (iii) other locations where Borrower conducts any material business or keeps any material portion of
the Collateral (as of the date of this Agreement), are each as previously disclosed to Lender in the Final Loan Request as specified
in Exhibit C. Borrower’s exact legal name is as set forth in its signature to this Agreement.

 

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(n) Collateral. Borrower has rights in or
the power to transfer the Collateral, and Borrower is the sole and complete owner of the Collateral, free from any Lien other than
Permitted Liens. Lender has a first priority (subject to Permitted Liens) security interest in the Collateral and such first priority
security interest is perfected, in the case of any Collateral in which a security interest may be perfected by filing a UCC-1 financing
statement under Article 9 of the UCC.

 

(o) Financial Statements and Projections. All
financial statements of Borrower (including, without limitation, any balance sheets, income statements and statements of shareholders’
equity and cash flows) delivered to Lender on or prior to the date hereof are complete and correct and fairly present the financial
condition of Borrower as of the dates thereof and the results of operations of Borrower for the periods covered by such statements,
subject to normal year-end adjustments and the absence of notes. Any and all financial projections and forecasts delivered to Lender
on or prior to the date hereof represent Borrower’s best estimates and assumptions as to future performance, which Borrower
believes in good faith to be fair and reasonable as of the time made in light of current and reasonable foreseeable business conditions.

 

(p) Disclosure. None of the representations
or warranties made by Borrower in this Agreement or any other Loan Document or other item of information with respect to Borrower
(including each exhibit or report furnished by or on behalf of Borrower to Lender in connection with this Agreement or any other
Loan Document) contains any untrue statement of a material fact or omits any material fact required to be stated therein or necessary
to make the statements made therein, in the light of the circumstances under which they are made, not misleading.

 

(q) Set-off; Counterclaim. To the best of Borrower’s
knowledge, there is no claim, defense, counterclaim or set-off which could be asserted by or is available to Borrower against Lender.

 

(r) No Event of Default - no Event of Default
has occurred and is continuing.

 

SECTION 6 Affirmative Covenants. So long
as any of the Obligations remain unsatisfied (other than contingent indemnification Obligations for which no claim has been made),
Borrower agrees that:

 

(a) Preservation of Existence, Etc. Borrower
shall maintain and preserve its legal existence, its rights to transact business and all other rights, franchises and privileges
necessary or desirable in the normal course of its business and operations and the ownership of its properties.

 

(b) Taxes. Borrower shall pay and discharge
all taxes, fees, assessments and governmental charges or levies imposed upon it or upon its properties or assets prior to the date
on which penalties attach thereto, and all lawful claims for labor, materials and supplies which, if unpaid, might become a Lien
upon any properties or assets of Borrower, except to the extent such taxes, fees, assessments or governmental charges or levies,
or such claims, are being contested in good faith by appropriate proceedings and are adequately reserved against in accordance
with GAAP.

 

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(c) Insurance. Borrower shall carry and maintain
in full force and effect, at its own expense and with financially sound and reputable insurance companies, fire and other risk
insurance, liability insurance, in each case, in such amounts, with such deductibles and covering such risks as is customarily
carried by companies engaged in the same or similar businesses and owning similar properties in the localities where Borrower operates.
All insurance policies required under this section shall name Lender as an additional named insured and as a lender loss payee.
Any proceeds of insurance referred to in this section which are paid to Lender shall be, at the option of Lender in its sole and
absolute discretion, either (i) applied to rebuild, restore or replace the damaged or destroyed property, or (ii) applied to the
payment or prepayment of the Obligations.

 

(d) Legal Compliance. Borrower shall comply
in all material respects with the requirements of all applicable laws, rules, regulations and orders of any court or governmental
department, commission, board, bureau, agency, or other instrumentality, domestic or foreign, and the terms of any indenture, contract
or other instrument to which it may be a party or under which it or its properties may be bound.

 

(e) Maintenance of Properties. Borrower
shall maintain and preserve all of its properties necessary or useful in the proper conduct of its business in good working order
and condition in accordance with the general practice of other entities of similar character and size, ordinary wear and tear excepted.

 

(f) Preservation of Collateral. Borrower
shall do and perform all reasonable acts that may be necessary and appropriate to maintain, preserve and protect the Collateral.

 

(g) Lender’s Interest in Collateral.
Borrower shall not remove any Collateral from any location previously disclosed to Lender in the Final Loan Request or any other
location without Lender’s prior written consent, except for relocations (i) for maintenance and repair or transportation
to another permitted location or (ii) of vehicles. Borrower shall maintain Lender’s first priority (subject to Permitted
Liens) security interest in the Collateral and ensure that Lender’s first priority security interest remains perfected, in
the case of any Collateral in which a security interest may be perfected by filing a UCC-1 financing statement under Article 9
of the UCC.

 

(h) Inspection Rights. Borrower shall at
any reasonable time with reasonable notice permit Lender or its agents or representatives to visit and inspect any of Borrower’s
property and to examine and make copies of and abstracts from the books and records of Borrower and to discuss the business affairs,
finances and accounts of Borrower.

 

(i) Notices.
Borrower shall provide Lender with prior written notice of: (A) any change in its name or any name under which Borrower does business;
(B) any change in its registration as an organization (or any new such registration); (C) any change in its identity or structure
in any manner which might make any financing statement filed hereunder incorrect or misleading; (D) any change in its jurisdiction
of organization.

 

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Borrower shall promptly, upon acquiring or giving notice, or
obtaining knowledge thereof, as the case may be, provide Lender with notice of:

 

(i) the filing of a petition for bankruptcy relief by
or against Borrower or any affiliate of Borrower, or by or against any Debtor;

 

(ii) any Debtor assertion of a claim or defense to payment
of a Purchased Receivable;

 

(iii) the issuance of any credit adjustment or the reissuance
of an Invoice with respect to a Purchased Receivable;

 

(iv) the occurrence of any Event of Default, specifically
stating that an Event of Default has occurred and describing such default in reasonable detail, the circumstances giving rise thereto
and any action that Borrower is taking or proposes to take to remedy the same;

 

(v) the filing or threatened filing of Material Litigation
involving or affecting Borrower or any Affiliate of Borrower or any of their respective properties;

 

(vi) Borrower’s default under a Material Obligation,
or if Borrower or any affiliate of Borrower is requested or otherwise enters into a credit related forbearance or similar agreement
with any creditor;

 

(vii) the existence or purported existence of any Lien
over any part of the Borrower Collateral other than Permitted Liens, specifying any action Borrower is taking or proposes to take
in respect of or to release such Lien;

 

(viii) any circumstance those results in Borrower becoming
a “restricted person” under the Anti-Terrorism Laws;

 

(ix) Borrower’s receipt
of a notice from the IRS or another tax authority regarding a threat to levy or file a lien.

 

(j) Reporting. Borrower shall furnish to Lender:

 

(i) within one hundred twenty (120) days after the end
of each fiscal year, the previous year-end unaudited financial statements of Borrower and its subsidiaries, if any, on a consolidated
basis, consisting of balance sheets and statements of income and cash flow, which financial statements (if required by Payplant)
shall be prepared in accordance with the accounting standards in the Borrower’s country. E.g. GAAP in US; and

 

(ii) within forty five (45) days after the end of each
quarter, the year-to- date unaudited financial statements of Borrower and its subsidiaries, if any, containing the Borrower’s
balance sheet, income statement, statement of cash flows, accounts receivable aging, accounts payable aging and such information
as Payplant may reasonably request.

 

The financial statements referred to in paragraphs (i) and (ii)
above shall be accompanied by a Certificate from a Client Key Principal certifying that (i) such financial statements present fairly
(if required by Payplant, in accordance with GAAP on an accrual basis subject to normal adjustments) the financial position, results
of operations and statements of cash flow of Borrower on a consolidated basis, as of the dates thereof, (ii) any other information
presented is true, correct and complete in all material respect, and (iii) there are no Events of Default or other events that,
with notice, the passage of time and failure to cure, may result in an Event of Default.

 

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(iii) such other statements, lists of property and
accounts, budgets, forecasts, projections, reports, or other information respecting the operations, properties, business or condition
(financial or otherwise) of Borrower (including with respect to the Collateral) as Lender may from time to time reasonably request.

 

(k) Commercial Tort Claims. If Borrower acquires
any commercial tort claim, Borrower shall promptly deliver to Lender a written description of such commercial tort claim and shall
deliver a written agreement, granting to Lender a perfected security interest in all of its right, title and interest in and to
such commercial tort claim, as security for the Obligations.

 

(l) Bank
Account Monitoring: Borrower shall provide online read-only access to Borrower’s Designated Bank Accounts to Lender.

 

(m) Existing loans - all existing
lenders to the Borrower will be junior to Payplant.

 

(n) Receivables Financing Obligation –
unless paid earlier, Borrower shall pay off this Loan by selling future Receivables to Lender under the Payplant Client Agreement
signed between the parties on {{*FADate_es_:sender:isdate(format=mm/dd/yyyy)}} (“Payplant Client Agreement”).

 

(o) Disputes, Chargebacks and Credit Adjustments

 

(i). Borrower shall notify Lender in writing within three
(3) Business Day (x) should an Debtor subsequently return purchased goods to Borrower for credit, or (y) should an Debtor become
entitled to or claim a credit adjustment against any obligation to Borrower, or (z) should an Debtor dispute any amount owed to
Borrower or attempt to set off any other amount that Borrower may owe to Borrower against the Debtor’s payment obligations
to Borrower.

 

(ii). Any failure on the part of Seller to comply with
the requirements of Sections 6 (o) (i) above shall give rise to an Event of Default under Section 8 of this Agreement.

 

(p) For any invoices and purchase orders financed by Payplant,
Borrower shall pay third-party vendors immediately on receipt of funds from Payplant. For other accounts payable, Borrower shall
make best effort to make timely payments.

 

SECTION 7 Negative Covenants. So long as
any of the Obligations remain unsatisfied (other than contingent indemnification Obligations for which no claim has been made),
Borrower agrees that:

 

(a) Indebtedness. Borrower shall not create,
incur, assume or otherwise become liable for or suffer to exist any indebtedness for borrowed money without prior written consent,
other than: (i) the Obligations; (ii) Indebtedness of the Borrower existing on the date hereof and disclosed to the Lender in writing
or extensions, renewals and refinancings of such indebtedness (provided that the principal amount of such Indebtedness being extended,
renewed or refinanced does not increase and the terms thereof are not modified to impose more burdensome terms upon Borrower);
and (iii) capital leases or other Indebtedness incurred solely to acquire equipment, computers, software or implement tenant improvements
without the prior written permission of Lender.

 

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(b) Liens. Borrower
shall not create, incur, assume or suffer to exist any Lien upon or with respect to any of its properties, revenues or assets,
whether now owned or hereafter acquired, other than Permitted Liens.

 

(c) Investments. Without prior written consent,
Borrower shall not directly or indirectly purchase or otherwise acquire the capital stock or other equity interests, assets (constituting
a business unit), obligations or other securities of or any interest in any Person, or extend any credit to, guarantee the obligations
of or make any additional investments in any Person, or make or hold any other loan to or other investment in any Person, other
than (i) extensions of credit in the nature of accounts receivable or notes receivable arising from the sales of goods or services
in the ordinary course of business and (ii) short term, investment grade money market instruments, in accordance with Borrower’s
usual and customary treasury management policies.

 

(d) Restricted Payments. Borrower shall
not declare or pay any dividends in respect of Borrower’s capital stock or other equity interest, or purchase, redeem, retire
or otherwise acquire for value any of its capital stock or other equity interests now or hereafter outstanding, return any capital
to its shareholders as such, or make any distribution of assets to its shareholders as such, or permit any of its Subsidiaries
to purchase, redeem, retire, or otherwise acquire for value any stock of Borrower.

 

(e) Burdensome Agreements. Borrower shall
not enter into or cause, suffer or permit to exist any agreement with any Person which prohibits or limits the ability of Borrower
to create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter
acquired.

 

(f) Nature of Business. Borrower shall
not engage in any material line of business substantially different from those lines of business carried on by it and previously
disclosed to Lender prior to the date hereof.

 

(g) Fundamental Changes. Borrower shall
not merge with or consolidate into, or acquire all or substantially all of the assets of, any Person, or sell, transfer, lease
or otherwise dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets without
the Lender’s consent which shall not be unreasonably withheld unless the Lender will be paid off as part of the change.

 

(h) Asset Dispositions. Borrower shall
not sell, transfer, lease, or otherwise dispose of, or part with control of (whether in one transaction or a series of transactions)
any assets (including any shares of stock in any Person) without the Lender’s consent will shall not be unreasonably withheld,
except (i) sales or other dispositions of inventory, and the license, sublicense and grant of distribution and similar rights,
in the ordinary course of business; (ii) sales or other dispositions of assets which have become worn out or obsolete or which
are promptly being replaced; and (iii) liquidation or dissolution of any dormant or shell Subsidiary, notice of which will be provided
to Lender by Borrower.

 

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(i) Affiliate Transactions. Borrower shall
not, directly or indirectly, enter into any transaction with any affiliate that is on terms less favorable to the Borrower than
would be obtained in an arm’s length transaction with a non-affiliated Person.

 

(j) Use of Funds. Borrower shall not use
any of the proceeds of the Loan directly or indirectly (i) to pay any post-secondary educational expenses, including, without limitation,
any tuition, fees, books, supplies, room and board, transportation or similar or related expenses, (ii) to purchase or carry any
securities, (iii) to fund or otherwise support any illegal activities, (iv) for personal, family, household, or agricultural purposes,
or (v) for any other Person or purpose or otherwise inconsistent with the purpose(s) set forth in the Loan Request corresponding
to such Loan.

 

(k) USA Patriot Act. Borrower shall not
(a) be or become subject at any time to any law, regulation, or list of any government agency (including, without limitation, the
U.S. Office of Foreign Asset Control list) that prohibits or limits Lender from making any advance or extension of credit to Borrower
or from otherwise conducting business with Borrower or (b) fail to provide documentary and other evidence of Borrower’s or
its corporate officers’ identities as may be requested by Lender at any time to enable Lender to verify Borrower’s
identity or to comply with any applicable law or regulation, including, without limitation, Section 326 of the USA Patriot Act
of 2001, 31 U.S.C. §5318.

 

(l) Diversion
of Funds - Borrower shall not Divert all or any portion of funds to be paid into the Lender controlled Lockbox Account or otherwise
due to Lender. Consistent with the stated intent of the Parties that all purchases and sales of Purchased Receivables on the Platform
result in True Sales for all purposes, Borrower recognizes and agrees that, following Consummation, Borrower shall have no rights
to or interests whatsoever in Collection Proceeds of Purchased Receivables and no right to possess or to use such collected funds
for any purpose.

 

(m) Additional Financing - Borrower shall notify
Payplant within five (5) business days or raising additional financing, while Payplant’s advances are outstanding.

 

SECTION 8 Events of Default. Any of the following
events which shall occur shall constitute an “Event of Default”:

 

(a) Borrower shall fail to pay when due any amount
of principal, interest or the Origination Fee hereunder or other amount payable hereunder.

 

(b) Any representation or warranty by Borrower
under or in connection with any Loan Document or any other agreement or document delivered to Lender shall prove to have been incorrect
in any material respect when made or deemed made.

 

(c) Borrower shall fail to perform or observe any
term, covenant or agreement contained in Section 6(a), (c) or (g), or Section 7 or any other term,
covenant, or agreement the breach of which Lender determines is not capable of being remedied.

 

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(d) Borrower shall fail to perform or observe any
other obligation of Borrower contained in any Loan Document and any such failure shall remain un-remedied for a period of 10 days
from the occurrence thereof (unless Lender determines that such failure is not capable of remedy).

 

(e) (i) Borrower shall admit in writing its inability
to, or shall fail generally or be generally unable to, pay its debts (including its payrolls) as such debts become due, or shall
make a general assignment for the benefit of creditors, (ii) Borrower consents to the institution of any proceeding under any Debtor
Relief Law, or makes an assignment for the benefit of creditors, or applies for or consents to the appointment of a receiver, trustee,
custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer for it or for all
or any material part of its property, or (iii) any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator,
administrative receiver or similar officer is appointed for Borrower without the application or consent of such Person and the
appointment continues un-discharged or un-stayed for thirty (30) calendar days, or any proceeding under any Debtor Relief Law relating
to any such person or to all or any material part of its property is instituted without the consent of such Person and continues
un-dismissed or un-stayed for thirty (30) calendar days, or an order for relief is entered in any such proceeding;

 

(f) Borrower shall (i) liquidate, wind up or dissolve
(or suffer any liquidation, wind-up or dissolution), (ii) suspend its operations other than in the ordinary course of business,
or (iii) take any action to authorize any of the foregoing actions or events.

 

(g) Borrower shall fail (i) to make any payment
of any principal of, or interest or premium on, any indebtedness for borrowed money (other than the Loan), in an aggregate amount
(including undrawn committed or available amounts), when due (whether by scheduled maturity, required prepayment, acceleration,
demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument
relating to such indebtedness as of the date of such failure, or (ii) to perform or observe any term, covenant or condition on
its part to be performed or observed under any agreement or instrument relating to any such indebtedness, when required to be performed
or observed, and such failure shall continue after the applicable grace period, if any, specified in such agreement or instrument,
if the effect of such failure to perform or observe is to accelerate, or to permit the acceleration of, the maturity of such indebtedness;
or any such indebtedness shall be declared to be due and payable, or required to be prepaid (other than by a regularly scheduled
required prepayment), prior to the stated maturity thereof;

 

(h) (i) A final judgment or order for the payment
of money (including from the IRS or other tax authorities) which is not fully covered by third-party insurance shall be rendered
against Borrower, or (ii) any non-monetary judgment or order shall be rendered against Borrower which has or could reasonably be
expected to have a Material Adverse Effect on Borrower; and there shall be any period of 30 consecutive days during which such
judgment continues unsatisfied or during which a stay of enforcement of such judgment or order, by reason of a pending appeal or
otherwise, shall not be in effect;

 

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(i) Intentionally left blank

 

(j) Any of the Collateral Documents shall for any
reason be revoked or invalidated, or otherwise cease to be in full force and effect, or cease to create a valid and perfected first
priority (subject to Permitted Liens) Lien in any of the Collateral purported to be covered thereby, or Borrower or any other Person
shall contest in any manner the validity or enforceability thereof, or Borrower or any other Person shall deny that it has any
further liability or obligation thereunder.

 

(k) There is a change in the record or direct or
indirect beneficial ownership or control of more than 30% of the voting capital stock of and other voting ownership interests in
Borrower compared to such ownership as of the date of this Agreement without the prior written consent of Lender.

 

(l) Any Diversion of funds if the amount so diverted is not
paid and remitted to Lender in Good Funds within three (3) Business Days.

 

(m) Client Key Principal Repudiation. A Client Key Principal
of Borrower attempts to disavow or otherwise repudiate the Client Key Principal’s liability to Lender as provided in Section
13 (p) of this Agreement.

 

(n) Failure by Borrower to notify Lender as required in Section
6 (o).

 

SECTION 9 Remedies.

 

(a) Upon the occurrence and during the continuance
of any Event of Default, Lender may without notice or demand declare the entire unpaid principal amount of the Loans, all interest
accrued and unpaid thereon and all other amounts payable hereunder to be forthwith due and payable (provided that, upon
the occurrence of any Event of Default under Section 8(e) or (f), such acceleration shall be automatic), whereupon
all unpaid principal of the Loans, all such accrued interest and all such other amounts shall become and be forthwith due and payable,
without presentment, demand, protest, notice of protest and non-payment, notice of default, notice of acceleration or intention
to accelerate, or further notice of any kind, all of which are hereby expressly waived by Borrower, and exercise any or all of
Lender’s rights and remedies under the Loan Documents, the UCC and other applicable law.

 

(b) For the purpose of enabling Lender to exercise
its rights and remedies under this Section 9 or otherwise in connection with this Agreement, Borrower hereby grants to Lender
an irrevocable, non-exclusive and assignable license (exercisable without payment or royalty or other compensation to Borrower)
to use, license or sublicense any intellectual property Collateral, while balances are owed to Lender.

 

(c) Lender shall not have any obligation to clean
up or otherwise prepare the Collateral for sale. Lender has no obligation to attempt to satisfy the Obligations by collecting them
from any other Person liable for them, and Lender may release, modify or waive any Collateral provided by any other Person to secure
any of the Obligations, all without affecting Lender’s rights against Borrower. Borrower waives any right it may have to
require Lender to pursue any third Person for any of the Obligations. Lender may comply with any applicable state or federal law
requirements in connection with a disposition of the Collateral and compliance will not be considered adversely to affect the commercial
reasonableness of any sale of the Collateral. Lender may sell the Collateral without giving any warranties as to the Collateral.
Lender may specifically disclaim any warranties of title or the like. This procedure will not be considered adversely to affect
the commercial reasonableness of any sale of the Collateral. If Lender sells any of the Collateral upon credit, Borrower will be
credited only with payments actually made by the purchaser, received by Lender and applied to the indebtedness of the purchaser.
In the event the purchaser fails to pay for the Collateral, Lender may resell the Collateral and Borrower shall be credited with
the proceeds of the sale.

 

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(d) The cash proceeds actually received from the
sale or other disposition or collection of Collateral, and any other amounts received in respect of the Collateral the application
of which is not otherwise provided for herein, shall be applied first, to the payment of the reasonable costs and expenses
(including, without limitation, reasonable attorneys’ fees and expenses) of Lender and Manager in exercising or enforcing
its rights hereunder and in collecting or attempting to collect any of the Collateral, and to the payment of all other costs, fees
and expenses (including, without limitation, reasonable attorneys’ fees and expenses) reimbursable by Borrower under the
Loan Documents and indemnification obligations of Borrower under the Loan Documents; and second, to the payment of the Obligations.
Any surplus thereof which exists after payment and performance in full of the Obligations shall be promptly paid over to Borrower
or otherwise disposed of in accordance with the UCC or other applicable law. Borrower shall remain liable to Lender for any deficiency
which exists after any sale or other disposition or collection of Collateral.

 

(e) If Borrower shall fail to do any act or thing
which it has covenanted to do under this Agreement or any of the Loan Documents, Lender may (but shall not be obligated to) do
the same or cause it to be done either in the name of Lender or in the name and on behalf of Borrower, at Borrower’s expense,
and Borrower hereby irrevocably authorizes Lender so to act.

 

(f) To the extent that Lender may not have already done so,
Lender may send appropriate notifications to Borrower’s Registered Debtors under Sections 9-406(a) and 9-703(a)
of the UCC, instructing or reinstructing such Registered Debtors to make all of their Invoice Payments to Lender at the Lockbox
Account address, and not to pay Borrower directly.

 

(g) Lender may then proceed to collect all Receivables from
the Debtors. In this respect, Borrower agrees that Lender may compromise, settle, extend, or renew for any period (whether or not
longer than the original period) any Registered Debtor Receivable or indebtedness thereunder or evidenced thereby, or release all
or any part of said indebtedness, without affecting the liability of Borrower to Lender. To that end, Borrower irrevocably constitutes
and appoints Lender as Borrower’s attorney-in-fact, coupled with an interest, with full power of substitution, to take any
and all such actions and any and all other actions permitted hereby, either in Borrower’s name or in Lender’s name.

 

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(h) Lender shall have the right, at any time before or after
the occurrence of an Event of Default, to apply any and all amounts that Lender may then or thereafter owe to Borrower, as well
as to apply any funds belonging to Borrower that are in Lender’s possession or under Lender’s control (including Borrower
funds then and thereafter on deposit in the Lockbox Account), to the payment and satisfaction, whole or in part, of Borrower’s
obligations to Lender.

 

(i) Borrower shall remain liable for any deficiency that results
should the proceeds of the Borrower Collateral not be sufficient to fully pay and satisfy Borrower’s then obligations in
favor of Lender.

 

(j) Except as may be prohibited by Applicable Law, all of Lender’s
Enforcement Rights, whether provided under this Agreement, or available under Applicable Law, shall be cumulative and may be exercised
singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, specifically
and without limitation, nothing under this Agreement shall obligate Lender to pursue Enforcement Rights against the Borrower Collateral
before filing a collection action against Borrower to collect any and all amounts then owed to Lender.

 

(k) Lender shall have the right to file suit or commence
arbitration against Borrower to enforce payment of all amounts then or thereafter owed by Borrower, including unpaid Collection
Expenses; and

 

(l) Lender shall have the right to file suit against or to otherwise
enforce payment against each obligated Debtor to collect payment of the Debtor’s Invoice Payment Obligations and to exercise
whatever additional Enforcement Rights that may be available under Applicable Law.

 

(m) Borrower shall be responsible for payment of, and shall
reimburse Lender for Lender’s Collection Expenses and reasonable attorneys’ fees, court cost and out-of-pocket expenses
(including third-party collection agency fees) that may be incurred in attempting to collect and in collecting amounts due by Borrower
and by Borrower’s Debtors.

 

(n) Following the occurrence of, and so long as an Event of
Default continues to exist, Borrower shall at Lender’s reasonable request meet with a Lender representative at the Borrower’s
main office from time-to-time to review Borrower’s billings and collections, financial documents and business activities.
Borrower further recognizes and agrees failure of Borrower to comply with this Section 16(h) shall result in irreparable
harm to Lender to obtain judicially ordered injunctive relief against Borrower as provided under Applicable Law.

 

(o) Unless Lender otherwise agrees, all enforcement actions
against Borrower shall be brought in a court in California, or in arbitration as provided in Section 13 (n) of this Agreement.

 

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SECTION 10 Certain Waivers. Borrower waives,
to the fullest extent permitted by law, (i) any right of redemption with respect to the Collateral, whether before or after sale
hereunder, and all rights, if any, of marshalling of the Collateral or other collateral or security for the Obligations; (ii) any
right to require Lender (A) to proceed against any Person, (B) to exhaust any other collateral or security for any of the Obligations,
(C) to pursue any remedy in Lender’s power, or (D) to make or give any presentments, demands for performance, notices of
nonperformance, protests, notices of protests, notices of dishonor, notice of acceleration, or notice of intent to accelerate in
connection with any of the Collateral; and (iii) all claims, damages, and demands against Lender arising out of the repossession,
retention, sale or application of the proceeds of any sale of the Collateral.

 

SECTION 11 Expenses. Borrower agrees to
pay on demand all fees and expenses (including, without limitation, reasonable attorneys’ fees and expenses) of Lender and
Manager in connection with any Event of Default, any enforcement or attempted enforcement of, and the protection or preservation
of any rights under, any Loan Document and any out-of-court workout or other refinancing or restructuring or in any bankruptcy
case, including, without limitation, any and all losses, costs, and expenses sustained by Lender or Manager as a result of any
failure of Borrower to perform or observe its obligations contained in any Loan Document.

 

SECTION 12 Indemnification. Borrower shall
indemnify and hold harmless Lender, Manager, their agents and affiliates and each of their respective officers, directors, employees,
agents, partners, attorneys, accountants, trustees and advisors (collectively, the “Indemnitees”) from
and against any and all liabilities, losses, damages, claims and expenses (including reasonable attorney’s fees and expenses)
of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnitee in any
way relating to or arising out of or in connection with the execution, delivery, enforcement, performance or administration of
any Loan Document or any other agreement, instrument or document delivered in connection therewith or the transactions contemplated
hereby or thereby, any Loan or the use or proposed use of the proceeds therefrom, or any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless
of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available
to the extent such liabilities, losses, damages, claims and expenses result solely from the gross negligence or willful misconduct
of such Indemnitee, in each case, as determined by a final, non-appealable court of competent jurisdiction. BORROWER AND LENDER
EXPRESSLY INTEND THAT THE FOREGOING INDEMNITY SHALL COVER, AND THAT BORROWER SHALL INDEMNIFY AND HOLD THE INDEMNIFIED PARTIES HARMLESS
FROM AND AGAINST, COSTS, EXPENSES AND LOSSES SUFFERED AS A RESULT OF THE NEGLIGENCE OF ANY INDEMNITEE.

 

SECTION 13 Miscellaneous Terms.

 

(a) Amendment. No amendment or waiver of
any provision of this Agreement or any other Loan Document, nor any consent to any departure by Borrower therefrom, shall in any
event be effective unless the same shall be in writing and signed by Lender and then such amendment, waiver or consent shall be
effective only in the specific instance and for the specific purpose for which given.

 

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(b) Notices. All notices and other communications
to Borrower may be given by email to Borrower’s registered email address provided to Lender or posted to the Platform and
each such notice or other communication shall be deemed effective and received upon transmission. Borrower acknowledges that it
has sole access to such email account and that communications sent to such account may contain confidential or other sensitive
information. Borrower shall give Lender prior written notice of any change in such registered email address to be used for notices
and other communications. If applicable law requires that Lender give Borrower notice by other means, such notice shall be sent
by overnight courier service or by certified or registered mail, postage pre-paid, to the address provided by Borrower to Lender
and shall be deemed received, in the case of overnight courier service, on the next Business Day after delivery to such service,
and in the case of mailing, on the third day after mailing (or, if such day is a day on which deliveries of mail are not made,
on the next succeeding day on which deliveries of mail are made).

 

(c) Integration. This Agreement and the
other Loan Documents reflect the entire agreement between Borrower and Lender with respect to this Loan and supersede any prior
agreements, commitments, drafts, communication, discussions and understandings, oral or written, with respect to this Loan.

 

(d) Electronic Signature. This Agreement
and any other Loan Document may be executed by electronic signature as set forth in the Terms of Use delivered to Borrower.

 

(e) No Waiver. No failure on the part of
Lender or Manager to exercise, and no delay in exercising, any right, remedy, power or privilege under any Loan Document shall
operate as a waiver thereof, nor shall any single or partial exercise of any such right, remedy, power or privilege preclude any
other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights and remedies under
this Agreement and the other Loan Documents are cumulative and not exclusive of any rights, remedies, powers and privileges that
may otherwise be available to Lender or Manager.

 

(f) Limitation
on Liability; Waiver. Neither party shall be liable for any lost profits or special, exemplary, consequential or punitive damages
and Borrower hereby waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal
action or proceeding any special, exemplary, punitive or consequential damages.

 

(g) Payments Set Aside. To the extent that
any payment by or on behalf of Borrower is made to Lender, or Lender exercises its right of setoff, and such payment or the proceeds
of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by Lender in its discretion) to be repaid to a trustee, receiver or any other
Person, in connection with any proceeding under any Debtor Relief Law or otherwise, then to the extent of such recovery, the obligation
or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment
had not been made or such setoff had not occurred.

 

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(h) Severability. Whenever possible, each
provision of this Agreement and the other Loan Documents shall be interpreted in such manner as to be effective and valid under
all applicable laws and regulations. If, however, any provision of this Agreement or any other Loan Document shall be prohibited
by or invalid under any such law or regulation in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform
to the minimum requirements of such law or regulation, or, if for any reason it is not deemed so modified, it shall be ineffective
and invalid only to the extent of such prohibition or invalidity without affecting the remaining provisions of this Agreement,
or the validity or effectiveness of such provision in any other jurisdiction.

 

(i) Assignment. Borrower shall not have the
right to assign its rights or obligations under this Agreement or any other Loan Document or any interest herein or therein without
the prior written consent of Lender. Lender may sell, assign, transfer or grant participations in all or any portion of Lender’s
rights and obligations hereunder without limitation. In the event of any such assignment, the assignee shall be deemed the “Lender”
for all purposes of this Agreement and any other documents and instruments relating hereto with respect to the rights and obligations
assigned to it. Borrower agrees that in connection with any such grant or assignment, Lender may deliver to the prospective participant
or assignee any relevant information relating to Borrower.

 

(j) Binding Effect. This Agreement and each
other Loan Document shall be binding upon, inure to the benefit of and be enforceable by Borrower, Lender and their respective
successors and assigns.

 

(k) GOVERNING LAW: THIS AGREEMENT
AND ANY CLAIM OR DISPUTE (WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE) RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
SHALL BE EXCLUSIVELY GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA EXCLUDING ANY CONFLICT OF
LAW RULES THAT WOULD LEAD TO THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. ALL AGREEMENTS BY AND BETWEEN THE PARTIES SHALL
BE DEEMED TO HAVE BEEN NEGOTIATED, CONTRACTED FOR, ACCEPTED, CONSUMMATED AND PERFORMED IN CALIFORNIA.

 

(l) Forum Selection; California Courts; Waiver of Right to
Class or Multiparty Recovery

 

(i). Subject to the right of any Party to invoke compulsory
arbitration under section 13 (n), any legal action or proceeding by or against any Party to this Agreement, with respect to any
claim arising out of this Agreement, or any relationship between the Parties, shall be brought in a California court. Should the
Borrower file suit against Buyer, Issuer or Originator before any court other than the foregoing California courts, Borrower shall
be responsible for Buyer, Issuer and Originator’s legal costs and other expenses in attempting to remove or otherwise relocate
such litigation to California.

 

(ii). Each Party (including each Guarantor) accepts for
itself and with respect of its properties, generally and unconditionally, the exclusive jurisdiction of the aforesaid courts for
legal proceedings arising out of or in connection with this Agreement, or any relationship between the Parties.

 

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(iii).
Each Party (including each Guarantor) hereby irrevocably waives personal service of any and all legal process, summons, notices
and other documents and other service of process of any kind and consents to such service in any suit, action or proceeding brought
in the United States of America with respect to or otherwise arising out of or in connection with this Agreement by any means
permitted by Applicable Law, including by the mailing thereof (by registered or certified mail, postage prepaid) to the address
provided to and on file with Lender (and shall be effective when such mailing shall be effective, as provided therein). Each Party
agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law.

 

(iv).
Each Party (including each Guarantor) hereby irrevocably waives any objection and any right to stay or dismiss any action
or proceeding under or in connection with this Agreement brought before the foregoing courts on the basis of forum non conveniens
or improper venue or any other grounds that it may now or hereafter have to the bringing of any such action or proceeding
in such jurisdictions.

 

(v).
Borrower waives the right to bring, assert, or participate in a class action or other multiparty litigation asserting any
claim or cause of action against Lender, whether related to this Agreement, or otherwise. The foregoing is a bargained-for covenant,
which has been knowingly and willingly agreed to by all Parties.

 

(m) Waiver
of Jury Trial:

 

FOR
THE PURPOSES OF THIS AGREEMENT, EACH PARTY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES ANY RIGHTS EACH MAY HAVE TO A TRIAL
BY JURY WITH RESPECT TO ANY LITIGATION BASED ON OR ARISING OUT OF, UNDER, RELATING TO OR IN CONNECTION WITH THIS AGREEMENT, WITH
ANY OTHER LENDER AGREEMENT, WITH ANY COURSE OF CONDUCT, WITH ANY COURSE OF DEALING, WITH ANY STATEMENTS (WHETHER VERBAL OR WRITTEN),
OR WITH ANY ACTIONS OR OMISSIONS OF ANY PARTY HERETO OR OF ANY OTHER PERSON RELATING TO THIS AGREEMENT. THIS WAIVER APPLIES TO
ANY ACTION, SUIT OR PROCEEDING WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE.

 

(n)
Arbitration:

 

The
Parties agree to mediate prior to arbitration.

 

(i)
Compulsory Binding Arbitration: The Parties agree that any Party may elect to arbitrate and require any other Party to arbitrate
any claim brought by or against or involving the rights of any Party.

 

(ii)
Limitations If any Party elects to arbitrate a claim, no Party shall have the right to (i) have a court or jury decide the
claim, (ii) engage in pre-arbitration discovery to the same extent that the Party would have the right to do in court, (iii) participate
in a class action in court or in arbitration, either as a class representative or a class member; or (iv) join or consolidate
the claim with claims of any other Person. Notwithstanding the foregoing, Lender shall have the right to exercise Enforcement
Rights against a Borrower by filing suit before a court of competent jurisdiction, or otherwise, and nothing under this Agreement
shall in any way impair or otherwise affect the Enforcement Rights available to Lender following an Event of Default.

  

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(iii)
Election to Arbitrate: To commence arbitration, the electing Party must give written notice to the other Party of an election
to arbitrate. This notice may be given within ninety (90) days after a lawsuit has been filed, and may be given in papers or motions
in the lawsuit. If an arbitration election notice is given, the claim shall be resolved by arbitration under this section 13
(n) and the American Arbitration Association rules for large, complex commercial disputes then in effect. The Arbitration
Administer need not be the American Arbitration Association. The electing Party may select the Arbitration Administrator in its
notice electing to arbitrate or by giving written notice to the other Party within twenty (20) days thereafter. The arbitrator
will be selected under the Arbitration Administrator’s rules.

 

(iv)
Location and Costs: Any arbitration hearing shall take place in California. The Party demanding arbitration shall be responsible
for the initial payment of all filing fees and expenses of the Arbitration Administrator. The prevailing party shall recover its
reasonable and necessary attorney’s fees from the non-prevailing party.

 

(v)
Effective Arbitration Award: Any court with jurisdiction may enter judgment upon the arbitrator’s award, which will
be final and binding.

 

(vi)
Mandatory Application of California Law; Arbitrator Authority

 

a).
Consistent with the choice of law provisions of section 13 (k) above, the arbitrator shall apply substantive California law
(and Federal law to the extent applicable) to all substantive issues presented in arbitration. The arbitrator shall further apply
all applicable statutes of limitation (prescription and preemption principles in California) and applicable privilege rules, as
well as rules of procedure and evidence consistent with the FAA, the Arbitration Administrator’s rules and the rules of
the American Arbitration Association.

 

b).
The arbitrator shall be authorized to award all remedies available in an individual lawsuit including awards of compensatory
and statutory (but not punitive or exemplary) damages, declaratory, and injunctive and other equitable relief.

 

c).
Upon the request of any Party, the arbitrator shall provide written findings of fact and conclusions of law explaining the
basis of the award.

 

(vii)
Injunctive Relief Outside of Arbitration

 

a).
In the event any Party fails to perform, observe or discharge any of its obligations under this, or threatens to fail to perform,
observe or discharge such obligations or liabilities, any remedy of law may prove to be inadequate relief to the Party (i.e.,
the Party to which the obligation is owed). Therefore, the Party, if the Party so requests, shall be entitled to apply for temporary
and permanent injunctive relief as may be granted by the court without the necessity of proving that actual damages are not an
adequate remedy.

 

b)
Notwithstanding anything in this Agreement, a Party may seek to obtain injunctive relief before a court of law with any claim
for monetary damages remaining subject to elective mandatory arbitration under section 13 (n).

 

(o)
Any waiver of a breach of any provision of this
Agreement will not be a waiver of any other breach. Failure or delay by either party to enforce any term or condition of this
Agreement will not constitute a waiver of such term or condition. If any part of this Agreement is determined to be invalid or
unenforceable under applicable law, then the invalid or unenforceable provision will be deemed superseded by a valid enforceable
provision that most closely matches the intent of the original provision, and the remainder of the Agreement shall continue in
effect.

  

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(p)
Client Key Principal Personal Liability for Diversion of Funds and Other Limited Acts:

 

(i).
Borrower agrees that Client Key Principals shall be personally liable for losses sustained by Lender as a consequence of (i)
any Diversion of funds that are not immediately repaid to Lender, or (ii) acts of fraud by Borrower or by any Client Key Principal,
or (iii) any attempt by Borrower or by a Client Key Principal to in any way interfere with Lender’s collection of Purchased
Receivables from an Debtor, or to interfere with Payplant security rights under this Agreement, or (iv) Borrower’s failure
to make Vendor payments in the amount and dates specified in Exhibit C.

 

(ii).
Borrower and each Client Key Principal agrees that Payplant may file suit against Client Key Principals along with Client
for any of the reasons mentioned in (i) above, before a Court in California, as provided in Section 13.

 

(iii).
As a result of Borrower signing this agreement, each Client Key Principal shall conclusively be deemed to have accepted Client
Key Principal potential personal liability to Lender (limited to the circumstances described in (i) above), and to have
consented to the personal jurisdiction of California courts and to the waiver of trial by jury provisions of Sections 13 (k)
and 13 (m) above.

 

(q)
Requirement That All Registered Debtor Invoice Payments Be Paid into the Lender Controlled Lockbox Account

 

(i).
Borrower agrees that Lender may instruct each and every one of Borrower’s Registered Debtors to pay all Invoice Payments
under Receivables initially due to Borrower into a designated Lockbox Account maintained and controlled by Lender, and further
instructing the Debtor not to pay Borrower directly. Borrower further agrees to re-notify Debtors at Lender’s request should
Lender’s Lockbox Account details change in the future.

 

THIS
REQUIRMENT APPLIES TO PAYMENT OF ALL INVOICES DUE FROM REGISTERED DEBTORS TO BORROWER, AND IS NOT LIMITED TO INVOICE PAYMENTS
DUE UNDER RECEIVABLES SOLD ON THE PLATFORM. ALL REGISTERED DEBTOR INVOICE PAYMENTS, INCLUDING INVOICE PAYMENTS UNDER BORROWER’S
OTHER RECEIVABLES NOT SOLD OVER THE PLATFORM, ARE REQUIRED TO BE PAID INTO THE LENDER CONTROLLED LOCKBOX ACCOUNT WITHOUT EXCEPTION.

 

(ii).
Borrower agrees that Lender may re-notify the Registered Debtor as Lender may deem to be necessary, making it clear to the
Debtor that the Debtor is required to make all Invoice Payments otherwise due to Borrower into the Lockbox Account.

 

(iii).
Borrower shall further include appropriate written instructions on each Invoice sent to a Registered Debtor instructing the
Debtor to make its Invoice Payments into the Lender controlled Lockbox Account, with Borrower removing any contrary written instructions
to pay Borrower directly.

 

(iv).
Once a Registered Debtor is instructed to make Invoice Payments into the Lender controlled Lockbox Account, Borrower shall
have no right whatsoever to counter-instruct the Debtor to pay Borrower directly or to pay an Affiliate of Borrower or some other
third Person.

  

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(v).
Once a Registered Debtor is instructed to make Invoice Payments into the Lender controlled Lockbox Account, Borrower shall
have no right whatsoever to receive Invoice Payments from the Debtor. To the extent that Borrower receives any Invoice Payment
from a Registered Debtor, whether due to Debtor error or otherwise, Borrower shall notify Lender of such occurrence within two
(2) Business Days and turn such payment over to Lender in the form received within three (3) Business Days, transferring funds
within 3 business days, and if received via check, without depositing the check into a Borrower deposit account. In the interim,
and at all times while Borrower may possess or have control over amounts received from Registered Debtors, Borrower shall hold
such funds “in trust” for and on behalf of Lender, with Borrower having full fiduciary duties and obligations to segregate
and safeguard such funds.

 

(vi).
Borrower agrees to pay Lender a Misdirected Payment Fee in the amount equal to 1% of each Invoice Payment that a Registered
Debtor pays to Borrower, or to an Affiliate of Borrower, if after the Registered Debtor receives notice from Lender or Borrower
to make its Invoice Payments into the Lender controlled Lockbox Account, and Borrower does not forward such misdirected payment
to Payplant by no later than three (3) Business Days following receipt.

 

(vii).
Borrower recognizes, confirms and agrees that Lender have or will have a perfected UCC Security Interest in all of Borrower’s
Purchased Receivables sold on the Platform, and that any failure on the part of Borrower to comply with the requirements of Sections
13 (q) (iv) and (v) above shall constitute a Diversion of funds due to Lender and an act of civil conversion under
Applicable Law, giving rise to an Event of Default under Section 8 of this Agreement.

 

(r)
Lender Authorized to Indorse Borrower’s Name on All Instruments Deposited into the Lockbox Account: Borrower irrevocably
authorizes Lender to indorse Borrower’s name on all checks, drafts and instruments deposited into the Lockbox Account for
Borrower’s account. Borrower forever waives any claim that Borrower may now or in the future have against Lender based on
wrongful or unauthorized endorsement of Borrower’s name on any check, draft or instrument deposited into the Lockbox Account.

 

(s)
Notification: 

 

(i)
Borrower agrees that Lender may, at any time, and at Lender’s sole election, notify all or selected Registered Debtors
of the fact that their Invoice Payment Obligations have been or may be sold on the Platform, or otherwise encumbered in favor
of Lender, and Lender shall have the further right to instruct or reinstruct such Registered Debtors to make their respective
Invoice Payments directly to Payplant at the Lockbox Account address.

 

(ii)
All such notifications shall be made pursuant to Sections 9-406(a) and 9-607(a) of the UCC.

 

(iii)
Once Lender notifies a Registered Debtor to make its Invoice Payments directly to Lender, Borrower shall have no right to
counter-instruct the Debtor to make its Invoice Payments to Borrower, or to an Affiliate of Borrower, or to any other third person.
Any attempt by Borrower to do so shall constitute a Diversion of funds due to Lender.

  

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SECTION
14 Termination. Upon payment and performance in full of all Obligations (other than contingent indemnification Obligations
for which no claim has been made), the security interest created under this Agreement automatically shall terminate and Lender
shall promptly execute and deliver to Borrower such documents and instruments reasonably requested by Borrower as shall be necessary
to evidence termination of all security interests given by Borrower to Lender hereunder.

 

SECTION
15 Limitation on Liability. IN NO EVENT SHALL
ANY PARTY BE LIABLE TO ANOTHER FOR ANY LOST PROFITS OR SPECIAL, EXEMPLARY, CONSEQUENTIAL OR PUNITIVE DAMAGES, EVEN IF INFORMED
OF THE POSSIBILITY OF SUCH DAMAGES. FURTHERMORE, NO PARTY MAKES ANY REPRESENTATION OR WARRANTY TO BORROWER REGARDING THE EFFECT
THAT THE AGREEMENT MAY HAVE UPON THE FOREIGN, FEDERAL, STATE OR LOCAL TAX LIABILITY OF THE OTHER.

  

THIS
WRITTEN LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS BETWEEN BORROWER AND LENDER REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES
AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

  

IN
WITNESS WHEREOF, Borrower and Payplant have duly executed this Agreement.

  

	Payplant LLC	 
	 	 
	Signature: 	/s/ Payplant LLC	 
	Name:	 Payplant LLC	 
	Title: 	CEO & Cofounder	 
	Date: 	9/21/2018) 	}}
	 	 
	Borrower:	 
	 	 
	Sysorex, Inc, a Nevada corporation:	 
	 	 
	Signature:	 /s/ Zaman Khan	 
	Name: 	Zaman Khan	 
	Title: 	CEO	 
	Date: 	9/21/2018	 
	 	 
	Signature:	 /s/ Vincent Loiacono	 
	Name: 	Vincent Loiacono	 
	Title: 	CFO	 
	Date: 	9/21/2018	 
	 	 
	Sysorex Government Services, Inc, a Virginia corporation:	 
	 	 
	Signature: 	/s/ Zaman Khan	 
	Name:	 Zaman Khan	 
	Title: 	CEO	 
	Date: 	9/21/2018	 
	 	 
	Signature:  	/s/ Vincent Loiacono	 
	Name: 	Vincent Loiacono	 
	Title: 	CFO	 
	Date:	 9/21/2018	 

  

    	30 of 35	 

     

    

 

EXHIBIT
A: PROMISSORY NOTE

 

FOR
VALUE RECEIVED, the undersigned, Sysorex, Inc.,  Nevada corporation (“Borrower”), HEREBY
UNCONDITIONALLY PROMISES TO PAY to the order of Payplant Alternatives Fund, LLC, a Delaware limited liability company (“Lender”),
or its successors or permitted assigns, the principal sum of _______________ plus a Due Diligence fee of N/A ($0.00),
or, if less, the aggregate unpaid principal amount of the Loan outstanding under the Loan and Security Agreement referred
to below, which sum shall be due and payable in such amounts and on such dates as are set forth in the Loan and Security Agreement
via ACH or Wire. Borrower further promises to pay interest on the outstanding principal amount hereof from ___________,
the Funding Date at the rates, and on the dates, specified in such Loan and Security Agreement.

 

This
Note is referred to in the Loan and Security Agreement, effective as of 9/21/2018 (as amended, restated, supplemented or
otherwise modified from time to time, the “Loan and Security Agreement”), between Borrower and Lender.
Capitalized terms used but not otherwise defined herein have the meanings given to them in the Loan and Security Agreement.

 

This
Note is secured and guaranteed as and to the extent provided in the Loan and Security Agreement and the other Loan Documents.
Reference is hereby made to the Loan and Security Agreement and the other Collateral Documents for a description of the properties
and assets in which a security interest has been granted, the nature and extent of the security and guarantees, the terms and
conditions upon which the security interest and each guarantee was granted and the rights of the holder of this Note in respect
thereof.

 

Upon
the occurrence of any one or more Events of Default specified in the Loan and Security Agreement, all amounts then remaining unpaid
on this Note shall become, or may be declared to be, immediately due and payable all as provided therein.

 

All
parties now or hereafter liable with respect to this Note, whether maker, principal, surety, endorser or otherwise, hereby waive
diligence, presentment, demand, protest, notice of protest, notice of acceleration, notice of intent to accelerate, and all other
notices of any kind.

 

Borrower
agrees to make all payments under this Note without setoff or deduction and regardless of any counterclaim or defense.

 

No
single or partial exercise of any power under this Note shall preclude any other or further exercise of such power or exercise
of any other power. No delay or omission on the part of the holder hereof in exercising any right under this Note shall operate
as a waiver of such right or any other right hereunder.

 

This
Note shall be binding on Borrower and its successors and assigns, and shall be binding upon and inure to the benefit of Lender,
any future holder of this Note and their respective successors and assigns. THIS NOTE MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE
WITH THE TERMS OF THE LOAN AND SECURITY AGREEMENT.

  

The
following sections of the Loan and Security Agreement, are adopted and incorporated by reference as though fully set forth herein:

 

		a.	Governing
                                         Law: section 13 (k)

		b.	Forum
                                         Selection: section 13 (l)

		c.	Waiver
                                         of Jury Trial: section 13 (m)

		d.	Arbitration:
                                         section 13 (n)

		e.	No
                                         Punitive or Exemplary Damages: section 15

 

    	31 of 35	 

     

    

 

IN
WITNESS WHEREOF, Borrower has duly executed this Note, as of the date written below.

 

Sysorex,
Inc, a Nevada corporation:

 

Signature:

 

Name:

Title:

Date:

 

Signature:

 

Name

Title:

Date:

 

Sysorex
Government Services, Inc, a Virginia corporation:

 

Signature:

 

Name:

Title:

Date:

  

Signature:

 

Name:

Title:

Date:

  

    	32 of 35	 

     

    

 

EXHIBIT
B

 

CLIENT
KEY PRINCIPALS

 

		1.	Zaman
                                         Khan

  

    	33 of 35	 

     

    

 

EXHIBIT
C: FINAL LOAN REQUEST

 

		1.	Loan
                                         Term: maximum of 30 days

 

		2.	Loan
                                         Purpose: working capital for delivering the customer POs below:

 

	PO	 	Contract	 	Customer	 	Vendor	 	PO

 Amount	 	Payplant

 Advance	 	Borrower

 Co-payment

 to Vendor	 	Vendor

 Payment

 Amount
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

		3.	Total
                                         Vendor Payment Amount: $

 

		4.	Vendor
                                         Payment Date: _____________

   

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EXHIBIT
D: ACH DEBIT AUTHORIZATION

 

Sysorex,
Inc., a Nevada corporation and successor-in-interest by merger to Inpixon USA, a California corporation, with offices at 2479
East Bayshore Road, Suite 195, Palo Alto, CA 94303 (“Sysorex”) and Sysorex Government Services, Inc., a Virginia corporation,
with offices at 2479 East Bayshore Road, Suite 195, Palo Alto, CA 94303 (“SGS” and together with Sysorex, jointly
and severally, the “Borrower”)”)authorizes Payplant LLC (“Lender”) to charge/debit the following
bank accounts (Designated Accounts) in accordance with the Loan and Security Agreement dated 9/21/2018 (“Agreement”).
Company agrees to notify Lender in writing of any changes in the account information below within two (2) business days. Borrower
will not dispute Lender’s withdrawals with their bank so long as the transaction corresponds to the terms indicated in the
Agreement. Lender agrees to charge the company’s account only in accordance with the Agreement.

 

Sysorex
Bank Account:

 

__x__
Checking ____Saving

 

Bank
Name: Wells Fargo

 

Bank
ABA#: __________

 

Bank
Account number:

 

Account
name: Inpixon Federal

 

Payplant
LLC

 

Signature:

 

Name:
{

Title:

Date:

 

Borrower:

 

Sysorex,
Inc, a Nevada corporation:

 

Signature:

 

Name:

Title:

Date:

  

Signature:

 

Name:

Title:

Date:

 

Sysorex
Government Services, Inc, a Virginia corporation:

 

Signature:

 

Name:

Title:

Date:

  

Signature:

 

Name:

Title:

Date:

  

    	35 of 35

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