Document:

Exhibit 10.29 - Independent Contractor's Agreement Amendment 2

		
			EXHIBIT 10.29
		

		
			DNP FINANCIAL, LLC
		

		
			INDEPENDENT CON'TRACTOR'S AGREEMENT
AMENDMENT #2
		

		
			WHEREAS, Company and DNP Financial Strategies entered into that certain INDEPENDENT CONTRACTOR'S AGREEMENT effective April 23, 2010 (the "Agreement"), as Amended effective February 1, 2011, and as assigned to DNP Financial, LLC effective September 29, 2011,
		

		
			WHEREAS, the scope and complexity of the Company's operations have increased extensively since the Agreement was previously Amended, and
		

		
			WHEREAS, Company wishes to retain the ongoing services of Advisor,
		

		
			NOW, THEREFORE, the parties mutually agree to amend the Independent Contractor's Agreement, as amended, as follows:
		

		
			Section 2 of Amendment 1 to the Agreement effective February 1, 2011, is hereby further amended to provide an increase in compensation to Advisor to $25,000 per month, plus an annual award of not less than 200,000 common shares, options, or a combination thereof at the discretion of Advisor, on each anniversary date of the original INDEPENDANT CONTRACTORS AGREEMENT made
effective April 23, 2010. This modification is effective February 1, 2013.
		

		
			All other terms, conditions, rights, and responsibilities contained in the Independent Contractor's Agreement effective April 23, 2010, as amended and assigned, remain unchanged.
		

		
			DNP Financial, LLC                                       Calpian, Inc.
		

		
			By: /s/ David N. Pilotte                            By: /s/ Harold H. Montgomery
		

		
			David N. Pilotte, Principal                       Harold H. Montgomery
		

		
			                                                                  Effective Date January 25, 2013Exhibit 4.10 - Form Of Term Note

		
			EXHIBIT 4.10
		

		
			FORM OF 
TERM NOTE
		

		
			$[Principal Amount]Dated as of March 15, 2013
		

		
			FOR VALUE RECEIVED, the undersigned Calpian, Inc., a Texas corporation (“Borrower”) promises to pay to the order of [Lender], an individual (“Lender”), at [Address], on the Term Loan Maturity Date, the principal sum of [Principal Amount]  Dollars ($[Principal Amount]) or, if less, the aggregate unpaid principal amount of the Term Loan made by Lender pursuant to Section 2.1 of that certain Loan and Security Agreement, dated as of November 9, 2012 (as mended, restated or otherwise modified from time to time, the “Loan Agreement”), among Borrower, Granite Hill Capital Ventures, LLC, a Delaware limited liability company (“Granite Hill”) and each of the other financial institutions which are now or hereafter become a party thereto (collectively, together with Granite Hill and Lender, the  “Lenders”), and Granite Hill, as agent for the Lenders (in such capacity, “Agent”). Agent is hereby authorized to record the amount of the Term Loan made under this Term Note, and the information so recorded shall be conclusive and binding in the absence of manifest error. capitalized terms used herein without definition shall have the meanings ascribed to such terms in the Loan Agreement.
		

		
			Borrower also promises to pay interest on the unpaid principal amount hereof from time to time outstanding from the date hereof until maturity (whether by acceleration or otherwise) and, after maturity, until paid, at the rates per annum and on the dates specified in the Loan Agreement.
		

		
			Payments of both principal and interest are to be made in lawful money of the United States of America in same day or immediately available funds to the account designated by Agent pursuant to the Loan Agreement.
		

		
			This Note is one of the Term Notes referred to in, and evidences indebtedness incurred under, the Loan Agreement, to which reference is made for a description of the security for this Note and for a statement of the terms and conditions on which Borrower is permitted and required to make prepayments and repayments of principal of the indebtedness evidenced by this Note and on which such indebtedness may be declared to be immediately due and payable. Unless otherwise defined, terms used herein have the meanings provided in the Loan Agreement.
		

		
			All parties hereto, whether as makers, endorsers, or otherwise, severally waive presentment for payment, demand, protest and notice of dishonor. 
		

		

		

		 

 

		
		

		
			THIS NOTE HAS BEEN DELIVERED IN HILLSBOROUGH, CALIFORNIA, AND SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF CALIFORNIA.
		

		
			Borrower:
		

		
			CALPIAN, INC., a Texas corporation
		

		
			By:            /s/ Harold H. Montgomery
		

		
			Name:            Harold H. Montgomery
		

		
			Title:            Chief Executive Officer
		

		

		

		 

 

		
		

		
			SCHEDULE OF DIFFERENCES
		

			
					
						Principal Amount

					
					
						Lender

					
					
						Address

				
	$
3,500,000 
					
					
						The Vayam Revocable Trust

					
					
						2440 Sand Hill Road, Suite 301

					
						Menlo Park CA 94025

					
						 

				
	$
2,500,000 
					
					
						The Swadesh Family Trust

					
					
						1055 Fremont Ave.

					
						Los Altos, CA 94024

				
	
					
						 

					
					
						 

					
					
						 

				
	$
1,000,000 
					
					
						Gaurav Gauba

					
					
						491 Fletcher Drive

					
						Atherton, CA  94027

					
						 

				
	$
1,000,000 
					
					
						Gaurav Gauba & Komal Shah Trust dated April 27, 2000

					
					
						491 Fletcher Drive

					
						Atherton, CA  94027

					
						 

				
	$
500,000 
					
					
						Garg/Shah GRAT Number 9

					
					
						491 Fletcher Drive

					
						Atherton, CA  94027

					
						 

				
	$
500,000 
					
					
						Garg/Shaw GRAT Number 10

					
					
						491 Fletcher Drive

					
						Atherton, CA  94027

					
						 

				
	$
500,000 
					
					
						Sanjay Mehrotra

					
					
						491 Fletcher Drive

					
						Atherton, CA  94027Exhibit 4.8 - First Amendment To Loan Agreement

		

			 

		

		
			EXHIBIT 4.8
		

		
			FIRST AMENDMENT
		

		
			TO 
		

		
			LOAN AND SECURITY AGREEMENT
		

		
			 
		

		
			 
		

		
			            THIS FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT, dated as of February 27, 2013 (this “First Amendment”), is entered into by and among Calpian, Inc., a Texas corporation (“Borrower”), Granite Hill Capital Ventures, LLC, a Delaware limited liability company (“Granite Hill”) and each of the other lenders which now or hereafter become a party hereto (collectively, “Lenders” and each individually, a “Lender”), and Granite Hill, as agent for Lenders (Granite Hill, in such capacity, “Agent”), Calpian Residual Partners LP II (“Calpian II”) and Calpian Residual Partners LP IV (“Calpian IV”).
		

		
			 
		

		
			RECITALS
		

		
			 
		

		
			            WHEREAS, Borrower, Agent and Lenders have entered into that certain Loan and Security Agreement, dated as of November 9, 2012 (as the same may be further amended, modified, supplemented or restated from time to time, the “Credit Agreement”), pursuant to which Granite Hill has previously extended to Borrower the Initial Term Loan Funding Amount of $3,000,000 and agreed to extend an additional $2,000,000 to Borrower (the “Next Term Loan Funding Amount”) upon the terms and conditions set forth in the Credit Agreement, and any and all agreements, documents and instruments now existing or hereafter executed and delivered in connection with the Loans (as the same may be further amended, modified, supplemented or restated from time to time, collectively, the “Loan Documents”); 
		

		
			 
		

		
			            WHEREAS, the parties hereto find it necessary and desirable to make certain changes to the Credit Agreement as more particularly described herein, including without limitation, to provide for Agent using its best efforts to raise an additional $10,000,000 in Loans (referred to herein and under the Credit Agreement as the “Term Loan Increased Commitment Amount”) such that the Term Loan Aggregate Commitment may be increased from $5,000,000 up to a maximum of $15,000,000.
		

		
			 
		

		
			            NOW THEREFORE, in consideration of the foregoing premises and the agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

		

		
			AGREEMENT
		

		
			 
		

			
			
				 1.
			

			
			
			Definitions.  All capitalized terms used in this First Amendment and not otherwise defined herein shall have the meanings ascribed to such capitalized terms in the Credit Agreement.

			
			
				 2.
			

			
			
			New Definitions.  The following new definitions shall be added to the Credit Agreement:

		
			“$10,000,000 Threshold” is defined in Section 2.2(d).
		

		 

		

			 

		

 

		

			 

		

			
			
				 3.
			

			
			
			Amendments to Definition.  The definition of “Term Loan Maturity Date” shall be revised to read as follows:

		
			“Term Loan Maturity Date” means September 1, 2016.
		

			
			
				 4.
			

			
			
			Amendment to Section 2.1(a).  The first sentence of Section 2.1(a) shall be deleted in its entirety and replaced with the following:  “Granite Hill has provided Borrower with a term loan in the maximum principal $5,000,000, of which $3,000,000 has been advanced to date, and Agent, together with one or more Lenders, will use its best efforts to provide Borrower with an additional $10,000,000 in Loans , such that the aggregate maximum commitment available hereunder will be $15,000,000 (subject in all respects to Agent successfully obtaining such additional funding on a best efforts basis as determined by Agent, the “Term Loan Aggregate Commitment”), which Loans (the “Term Loan”) shall be evidenced by one or more Term Notes made by Borrower in favor of each Lender, substantially in the form of Exhibit A attached hereto (together with all amendments, renewals, extensions, substitutions, and replacements, collectively, the “Term Notes”).”

			
			
				 5.
			

			
			
			Amendment to Section 2.1(d).  The following additional sentence shall be added to the end of Section 2.1(d):  “In the case of an acquisition of Future Residuals which is (i) less than $500,000, Borrower shall not be required to reimburse Agent for the cost of any remote or onsite diligence, (ii) between $500,000 and $1,000,000, Borrower shall be required to reimburse Agent for the cost of any remote diligence only and (iii) above $1,000,000, Borrower shall be required to reimburse Agent for the cost of any remote or onsite diligence; provided however, that for the avoidance of doubt, Borrower shall be required to reimburse Agent for the cost of any legal contract due diligence in connection with any such acquisition.

			
			
				 6.
			

			
			
			Amendment to Section 2.1(e).  The reference to “June 1, 2014” in Section 2.1(e) shall be revised to read “September 1, 2014.” 

			
			
				 7.
			

			
			
			Amendment to Section 2.2(d).  The following additional sentence shall be added to the end of Section 2.2(d):  “For the avoidance of doubt and notwithstanding anything herein to the contrary, (1) at the time of funding the initial portion of the Term Loan Increased Commitment Amount, Borrower shall pay to Granite Hill a Lender an arrangement fee equal to 4% of $5,000,000 if such funding is arranged by Granite Hill (or 2% of $5,000,000 if arranged by Borrower), and (2) once $10,000,000 in Loans have been advanced hereunder (the “$10,000,000 Threshold”), at the time of funding the next advance above the $10,000,000 Threshold, Borrower shall pay to Granite an arrangement fee equal to 4% of $5,000,000 if such funding is arranged by Granite Hill (or 2% of $5,000,000 if arranged by Borrower).” 

			
			
				 8.
			

			
			
			Amendment to Section 2.2(e).  Section 2.2(e) shall be deleted in its entirety and replaced with the following:  “(e)            Commitment Fee.  On the date of the First 
		

		 

		

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		Amendment, Borrower shall pay to Granite Hill a commitment fee in an amount equal to 1.35% of $10,000,000 (the maximum Term Loan Increased Commitment Amount). 

			
			
				 9.
			

			
			
			Amendment to Section 2.2(f):  The following dates referenced in Section 2.2(f) shall be amended as follows:

		
			“February 15, 2013” shall be revised to read “May 15, 2013”
		

		
			“May 15, 2013” shall be revised to read “August 15, 2013”
		

		
			“August 15, 2013” shall be revised to read “November 15, 2013”
		

		
			“November 15, 2013” shall be revised to read “February 15, 2014”
		

			
			
				 10.
			

			
			
			Amendment to Section 8(n).  Section 8(n) shall be deleted in its entirety and replaced with the following:  “(n)            Without Agent’s prior written approval, Borrower shall not modify any payment instructions to the Processors, and, if and to the extent any such payment instructions to Processors are modified or if Borrower enters into new payment instructions with any Processor, Granite Hill, as Agent, must be a signatory thereto prior to the effectiveness of such modification of existing payment instructions or new payment instructions.”   

			
			
				 11.
			

			
			
			Representations and Warranties.  In order to induce Agent and Lenders to enter into this First Amendment, Borrower hereby represents and warrants to Agent and Lenders as follows:

		
			(a)    After giving effect to this First Amendment: (i) the representations and warranties contained in the Loan Documents (other than those that expressly speak as of a different date) are true, accurate and complete in all material respects as of the date hereof and (ii) no Default or Event of Default has occurred and is continuing;
		

		
			(b)    Borrower has the corporate power and authority to execute and deliver this First Amendment and to perform its obligations under the Loan Documents to which it is a party;
		

		
			(c)    The organizational documents of Borrower delivered to Agent and Lenders pursuant to the Credit Agreement are true, accurate and complete and have not been amended, supplemented or restated and continue to be in full force and effect, except as certified to Agent and Lenders at the time of their delivery to Agent and Lenders;
		

		
			(d)    The execution and delivery by Borrower of this First Amendment and the performance by Borrower of its obligations under the Credit Agreement and each of the other Loan Documents to which Borrower is a party have been duly authorized by all necessary corporate action on the part of Borrower;
		

		
			(e)    The execution and delivery by Borrower of this First Amendment and the performance by Borrower of its obligations under the Loan Documents do not and will 
		

		 

		

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		not contravene (i) any law or regulation binding on or affecting Borrower, (ii) the articles of incorporation or bylaws of Borrower, (iii) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower or (iv) any contractual restriction binding on or affecting Borrower;
		

		
			(f)    The execution and delivery by Borrower of this First Amendment and the performance by Borrower of its obligations under each Loan Document to which it is a party do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on Borrower, except as already has been obtained or made; and
		

		
			(g)    This First Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.
		

		
			12.      Conditions Precedent.  The legal effectiveness of this First Amendment is subject to the full satisfaction, in Agent and Lenders’ sole discretion, of the following conditions precedent:
		

		
			(a)    Borrower shall have duly executed this First Amendment and delivered the same to Agent; and 
		

		
			(b)    Borrower shall have paid any and all fees that are due to Agent and/or Granite Hill, including, but not limited to (i) the estimated reasonable fees and expenses of Agent’s legal counsel in connection with preparation, negotiation and execution of this First Amendment and (ii) all other fees and costs that are due to Agent and/or Granite Hill as contemplated by this First Amendment.
		

		
			13.      Severability.  Any provision of this First Amendment that is held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this First Amendment and the effect thereof shall be confined to the provisions so held to be invalid or unenforceable.
		

		
			14.      Successors and Assigns.  This First Amendment is binding upon and shall inure to the benefit of Borrower, Agent, Lenders and their respective successors and permitted assigns, except as limited by applicable law and/or by the terms of the Credit Agreement.
		

		
			15.      Effect of this First Amendment.  Except as expressly provided for in this First Amendment, this First Amendment shall not, in any way or manner, rescind, supplement or modify any existing term or provision of the Credit Agreement or any other Loan Document or waive or diminish any right or remedy of Agent or Lenders under the Credit Agreement, or any other Loan Document, at law in or equity.  All of the amendments set forth in this First Amendment shall be effective as of the date hereof.
		

		 

		

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			16.      Further Assurances.  Borrower agrees that it shall do and perform such acts and execute and deliver such additional documents and instruments as may be necessary to effectuate the purposes of this First Amendment, including, without limitation, documents and instruments relating to the perfection and continuation of the security interest of Lenders granted under the Credit Agreement.
		

		
			17.      Headings.  The headings in this First Amendment are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof.
		

		
			18.      Governing Law.  THIS FIRST AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS.
		

		
			19.      Integration.  Together with the Loan Documents, the Credit Agreement, as modified by this First Amendment, constitute the entire agreement among the parties hereto and supersedes all prior and contemporaneous agreements, oral or written, among the parties concerning the subject matter hereof.  No term of this First Amendment shall be amended, supplemented, modified or waived except by a writing signed by the parties hereto. 
		

		
			20.      Construction.  Each party to this First Amendment has reviewed and participated in the formulation of the components of this First Amendment.  Accordingly, this First Amendment shall be construed simply according to its fair meaning and not strictly for or against any party. 
		

		
			21.      Attorneys’ Fees.  Borrower agrees to pay to Lender, in addition to any other amounts otherwise due and owing to Agent and Lenders, all of Agent and Lenders’ reasonable attorneys’ fees, costs and expenses incurred in connection with the preparation of this First Amendment and the resolution of the matters discussed herein.  The parties hereto further agree that, in the event that any action or proceeding shall be commenced to enforce this First Amendment or any right arising in connection with this First Amendment, the prevailing party in any such action or proceeding shall be entitled to recover from the other party the full amount of the reasonable attorneys’ fees, costs and expenses incurred by such prevailing party in connection with such action or proceeding.
		

		
			22.      Counterparts.  This First Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which, taken together, shall constitute one and the same agreement.
		

		

		

		 

		

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		            IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the day and year first written above.
		

		
			 
		

		
			Borrower:
		

		
			 
		

		
			CALPIAN, INC., a Texas corporation

By:  s/s Harold H. Montgomery
Name:  Harold H. Montgomery
Title:   Chief Executive Officer
		

		
			 
		

		
			Calpian II:
		

		
			 
		

		
			CALPIAN RESIDUAL PARTNERS LP II
		

		
			 
		

		
			By:  s/s Harold H. Montgomery
Name:  Harold H. Montgomery
Title:   Chief Executive Officer
		

		
			 
		

		
			Calpian IV:
		

		
			 
		

		
			CALPIAN RESIDUAL PARTNERS LP IV
		

		
			 
		

		
			By:  s/s Harold H. Montgomery
Name:  Harold H. Montgomery
Title:   Chief Executive Officer
		

		
			 
		

		
			Agent and Lender:
		

		
			 
		

		
			GRANITE HILL CAPITAL VENTURES, LLC,
		

		
			a Delaware limited liability company
		

		
			 
		

		
			By:   s/s Sameet S. Mehta
Name: Shailesh J. Meta
Title:   Sameet S. Mehta As Attorney-In-Fact
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			306488632.2 
		

		 

		

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