Document:

Exhibit 10.18

   

  TIB The Independent BankersBank, N.A.

   

  RENEWAL, EXTENSION, AND MODIFICATION OF LOAN

  (Loan #92993)

   

  THIS RENEWAL, EXTENSION, AND MODIFICATION OF LOAN (this “Modification”) is made by and between
    TECTONIC MERGER SUB, INC. and T BANCSHARES, INC. (“Borrower”) and TIB THE INDEPENDENT BANKERSBANK, N.A.
      (“Lender”), to be effective as of the 11th day of May, 2018.

   

  RECITALS:

   

  WHEREAS, to evidence a loan (the “Loan”) and in accordance with that certain Letter Loan
    Agreement (as previously modified, the “Loan Agreement”) of even date therewith, Borrower executed and delivered to Lender that certain Amended & Restated Promissory Note dated effective as of May
    11, 2017, in the maximum stated principal amount of Twelve Million and No/100 Dollars ($12,000,000.00) (the “Note”); and

   

  WHEREAS, as partial security for the Note and Loan, Borrower delivered to Lender that certain Pledge Agreement (“Pledge Agreement”), dated of even date with the Note, granting a security interest in 100% of the outstanding common stock of T Bank, N.A., Dallas, Texas, among other property
    described therein (collectively, the “Pledged Collateral”); and

   

  WHEREAS, as additional collateral to secure the Note, Borrower executed an Assignment of Life Insurance Policy as Collateral (“Life Insurance Assignment”) on the life of Patrick Howard; and

   

  WHEREAS, to further secure the Note, Guaranty Agreements (collectively, the “Guaranties”) were
    executed by Tectonic Holdings, LLC, Tectonic Advisors, LLC and Sanders Morris Harris, LLC (collectively, the “Guarantors”);

   

  WHEREAS, all obligations and indebtedness now existing or hereafter from time to time owing to the Lender under the Note, Loan Agreement, Pledge
    Agreement, or other documents which have been executed by Borrower from time to time to secure or evidence the Note (as hereby modified) are sometimes collectively referred to herein as the “Obligations” (and the Note, Pledge Agreement, and
    all documents evidencing the Loan described therein, and as such are hereby modified, are herein collectively, the “Loan Documents”); and

   

  WHEREAS, Borrower desires to modify the terms of the Loan and extend the term of the Loan, and Lender agrees to such modification and extension
    pursuant to the terms hereof.

   

  AGREEMENTS:

   

  NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration,
    the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows:

   

  		1.	The parties hereby acknowledge that the outstanding principal balance of the Note is currently $2,000,000.00 (“Principal Amount”),
          and further agree that the maximum amount of the Note and Loan shall be decreased to the Principal Amount. Accordingly, the revolving nature of the Note shall be eliminated and no further advances shall be made under the Note and Loan. From
          the date hereof, Borrower promises to pay to Lender the Principal Amount and interest thereon as described in the Note, and to perform all of the covenants and obligations under the Pledge Agreement and other Loan Documents.

   

  		2.	The Maturity Date (as defined in the Note) is hereby extended to May 11, 2028.

   

  		3.	Payments under the Note shall be amended so that monthly payments of principal and interest, in an amount necessary to amortize the Principal Amount, at the Rate (as defined in the Note), over a 120-month term, shall
          be due and payable on the 11th day of each calendar month, through and including the Maturity Date, as herein extended, on which date all outstanding principal and
          accrued interest under the Note and Loan shall be fully due and payable.

   

  MODIFICATION OF LOAN – TECTONIC MERGER SUB, INC. – #92993 – Page 1

  
    
      
 

  

  
    		4.	The Guarantors shall be released from all liability under the Guaranties, save and except for any fraud perpetrated on Lender.

  

   

  		5.	The Life Insurance Assignment shall hereby be deemed fully and completely released.

   

  		6.	Effective on the date hereof, Section 7(a)(8) of the Loan Agreement (relating to debt service coverage) shall be deleted in its entirety.

   

  		7.	Borrower hereby renews, but does not extinguish, the Note and the liens and security interests created and evidenced by the Pledge Agreement, and all other liens and security interests securing the Note, and Borrower
          promises to pay to the order of Lender all amounts due under the Note, or so much thereof as may be advanced and outstanding, together with interest at the rate and in the manner specified in the Note, as modified herein, and to observe, comply
          with and perform each and every of the terms and provisions of the Loan Documents as herein modified.

   

  		8.	Borrower hereby extends and reaffirms the liens on the Collateral and all other collateral securing the Note until the indebtedness and the Note, as modified, renewed and extended hereby, have been fully paid, and
          agrees that the extension, rearrangement and modification set forth herein shall in no manner affect or impair the Note or the liens securing the same, and that said liens shall not in any manner be waived, the purpose of this instrument being
          simply to extend, rearrange and modify the time or manner of payment of the indebtedness evidenced by the Note, to modify the Note, Pledge Agreement, and other Loan Documents, and to carry forward all liens securing the same, which are
          acknowledged by Borrower to be valid and subsisting. Borrower further agrees that all terms and provisions of the Note and of the instrument or instruments creating or fixing the liens securing the same shall be and remain in full force and
          effect as therein written, except as otherwise expressly provided herein. All liens and security interests are hereby carried forward from the original inception thereof, and Borrower hereby ratifies, reaffirms and confirms all of said liens and
          security interests from the original inception thereof. Except as otherwise specified herein, the terms and provisions hereof shall in no manner impair, limit, restrict, or otherwise affect the obligations of Borrower under the Loan Documents. As
          a material inducement to Lender to execute and deliver this Modification, Borrower hereby acknowledges and agrees that Borrower is well and truly indebted to Lender in the amount set forth hereinabove, and that the liens, security interests and
          assignments created by the Pledge Agreement and any other Loan Documents are, respectively, valid and subsisting liens, security interests, and assignments, and are of the validity and priority recited in the Pledge Agreement, and the other Loan
          Documents. As further material inducement to Lender to execute and deliver this Modification, Borrower hereby acknowledges that there are no claims or offsets against, or defenses or counterclaim to, the terms or provisions or other obligations
          created or evidenced by the Loan Documents, and represent that, after modification of the Note, Pledge Agreement, and other Loan Documents hereunder, no event has occurred, and no condition exists which would constitute a default, either with or
          without notice or lapse of time, or both, under the Loan Documents.

   

  		9.	Borrower reaffirms and remakes, as of the date hereof, all representations and warranties contained in the Note, Pledge Agreement, and other Loan Documents. Borrower further represents and warrants that, except as
          disclosed in writing to Lender, it has done nothing, nor has allowed anything, to adversely affect title to or encumber the Collateral or any other collateral of Borrower in which Lender has a security interest. Borrower further represents and
          warrants to Lender that it is aware of no condition or fact, which has not been disclosed in writing to Lender, which would materially adversely affect the repayment to Lender of all sums due under the Loan Documents.

   

  MODIFICATION OF LOAN – TECTONIC MERGER SUB, INC. – #92993 – Page 2 

  
    
      
 

  

   
  	

        	10.	Borrower and each Guarantor, for itself and its successors and assigns, does hereby (a) acknowledge that Lender has performed all of its obligations to date under the Loan Documents and (b) waives, releases, and
            discharges Lender and its agents, employees, officers, directors, and attorneys (collectively, the “Released Parties”) from any and all of Lender’s duties, obligations, and liabilities arising under, based upon or associated with, directly or
            indirectly, the Note, Pledge Agreement, Guaranties, and any other Loan Documents, existing as of the date of this Modification, and further does hereby waive any and all claims and causes of action of any kind or character, arising under, based
            upon, or associated with, directly or indirectly, the Loan Documents or the acts, actions, or omissions of the Released Parties in connection therewith, existing as of the date hereof, whether known or unknown, asserted or unasserted, equitable
            or at law, arising under or pursuant to common or statutory law, rules, or regulations; provided however, that, from and after the date hereof, Lender hereby indemnifies Borrower and each affiliate thereof and their respective officers,
            directors, employees, attorneys, and agents from, and holds each of them harmless against, any and all losses, liabilities, claims, damages, penalties, judgments, costs, and expenses (including attorneys’ fees) to which any of them may become
            subject which directly or indirectly arise from or relate to any breach by Lender of any representation, warranty, covenant, or other agreement contained herein.

  

  

  		11.	Borrower hereby ratifies, reaffirms and confirms any and all covenants, agreements, or promises heretofore made by Borrower to Lender in connection with the Loan, Note, Pledge Agreement, or other Loan Documents, and
          all renewals thereof.

   

  		12.	Borrower agrees, simultaneously with and as a condition precedent to the execution hereof, to pay all fees, costs, and expenses of Lender incurred in connection with the preparation and administration of this
          Modification, including attorneys’ fees.

   

  		13.	It is hereby agreed and acknowledged that other parties, if any, who are liable in any part for the Obligations, but who are not hereby executing this Modification, are in no way released or discharged from such
          Obligations, nor are Lender’s rights against such persons or entities waived or negatively impacted by the execution of this Modification.

   

  		14.	If any provision of this Modification or application to any party or circumstance shall be determined by any court of competent jurisdiction to be invalid and unenforceable to any extent, the remainder of this
          Modification or the application of such provision to such person or circumstances, other than those as to which it is so determined invalid or unenforceable, shall not be affected thereby, and each provision hereof shall be valid and shall be
          enforced to the fullest extent permitted by law.

   

  		15.	Except as amended hereby, the Note, Pledge Agreement, and other Loan Documents remain unmodified and in full force and effect.

   

  		16.	THE NOTE, PLEDGE AGREEMENT, LOAN AGREEMENT, AND OTHER WRITTEN LOAN DOCUMENTS, AS MODIFIED BY THIS MODIFICATION, REPRESENT THE FINAL AGREEMENT BETWEEN BORROWER AND LENDER, AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
            PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

   

  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN BORROWER AND LENDER.

   

  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

   

  [SIGNATURE PAGE FOLLOWS] 

  

  

  MODIFICATION OF LOAN – TECTONIC MERGER SUB, INC. – #92993 – Page 3 

  
    
      
 

  

   

  Executed to be effective as of the effective date first written above.

   

  
    	BORROWER:	 	LENDER:
	 	 	 
	TECTONIC MERGER SUB, INC.	 	TIB THE INDEPENDENT BANKERSBANK, N.A.
	 	 	 
	By:	/s/ A. Haag Sherman 	 	By:	/s/ Chad T. Golden
	 	A. Haag Sherman, Director	 	 	Chad T. Golden, Senior Vice President
	 	 	 	 	 
	T BANCSHARES, INC.	 	 	 
	 	 	 	GUARANTORS:
	 By:	/s/ Patrick Howard	 	 
	 	Patrick Howard, President and CEO	 	 TECTONIC HOLDINGS, LLC
	 	 	 	 
	

          	

          	 	By:	Tectonic Services, LLC, 

            its Manager
	 	

          	 	 	 
	 	 	 	 	By:	/s/ A. Haag Sherman 
	 	 	 	 	 	A. Haag Sherman, Manager
	 	 	 	 	 	 
	 	 	 	TECTONIC HOLDINGS, LLC
	 	 	 	 	 
	 	 	 	By:	Tectonic Services, LLC,

            its Manager
	 	 	 	 	 
	 	 	 	 	By:	/s/ A. Haag Sherman 
	 	 	 	 	 	A. Haag Sherman, Manager

  

   

  		SANDERS MORRIS HARRIS, LLC
	 	 
	 	By:	/s/ A. Haag Sherman, 
	 	Name:	A. Haag Sherman
	 	Title:	Managing Director

   

  MODIFICATION OF LOAN – TECTONIC MERGER SUB, INC. – #92993 – Page 4Exhibit 10.19

      

    

    

    MANAGEMENT SERVICES AGREEMENT

    

    

    This Management Services Agreement (this “Agreement”) is entered into as of February 5, 2015 (the “Effective Date”), by and between Tectonic Services, LLC, a Texas
      limited liability company (“Manager”), and Tectonic Holdings, LLC, a
      Texas limited liability company (the “Company”). Manager and the Company are sometimes each individually referred to herein as a “Party” and collectively as the “Parties”.

    

    

    WHEREAS, the Company is governed by that certain Company Agreement, dated as of February 5, 2015 (the “Company Agreement”), by and among those individuals designated as members therein (the “Members”),

      and Manager, as the manager;

    

    

    WHEREAS, Manager has the ability to provide certain management services to assist the Company in
      conducting its business operations and accomplishing its strategic objectives; and

    

    

    WHEREAS, the Company desires to retain Manager to provide such services, and Manager is willing to make
      available to the Company such services, on the terms and conditions herein set forth;

    

    

    NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for
      other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

    
      

      

      ARTICLE 1

      SERVICES

      

      

    

    1.1          Engagement. The Company hereby engages Manager, and Manager hereby agrees, upon the terms
          and subject to the conditions set forth herein, to provide, or cause any of its Affiliates to provide, management services to the Company, as described in Section 1.2 hereof, subject to the rights of the Members set forth in the Company Agreement
          or as otherwise provided by law, including the Texas Business Organizations Code. For purposes of this Agreement, an “Affiliate” of any specified person is a person
          that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified.

    

    

    1.2          Services. Manager or any of its Affiliates shall provide the Company with business and organizational strategy, financial
          and investment management and advisory services, as the Company may reasonably request from time to time, in accordance with and as set forth in Article V of the Company Agreement (the “Services”).

    

    

    1.3          Authorization to Act. In recognition of the fact that some of the Services will require
          that personnel employed by Manager or its Affiliates engage in business dealings with customers, vendors or others with whom the Company does business, and that it is to the Company’s advantage for such business dealings to be conducted on behalf
          of and in the name of the Company, the Company hereby authorizes Manager to use the Company’s name, whenever necessary or appropriate in providing the Services hereunder, subject to the provisions hereof or as may limited in the Company
          Agreement.

    
      1

      
        
 

    

    
      ARTICLE 2

      COMPENSATION FOR SERVICES

      

      

    

    
      2.1          Management Fee. In consideration of the Services to be rendered by Manager hereunder, the Company shall pay to Manager a
            monthly management fee in the amount of $5,000, which fee shall be payable in advance, plus Out-of-Pocket Expenses (defined below).

       

      2.2          Reimbursement of Out-of-Pocket Expenses. In addition to the payments required under Section 2.1 above, the Company shall, at
            the direction of Manager, pay directly or reimburse Manager for Out-of-Pocket Expenses (as hereinafter defined). For purposes of this Agreement, the term “Out-of-Pocket
                Expenses” shall mean the reasonable amounts incurred by Manager and/or its personnel from products and/or services of unaffiliated third parties delivered to the Company or Manager and/or their respective personnel in connection
            with the Services including, without limitation, (i) fees and disbursements of auditors, attorneys and other advisors or consultants, (ii) costs of any outside services of independent contractors such as financial printers, couriers, business
            publications or similar services and (iii) all other reasonable expenses actually incurred by Manager and/or its personnel in rendering the Services. All direct payments and reimbursements for Out-of-Pocket Expenses shall be made promptly upon
            or as soon as practicable after presentation by Manager to the Company of a statement in reasonable detail in connection therewith.

      

      

    

    
      ARTICLE 3

      STANDARD OF PERFORMANCE; LIMITATIONS

      

      

    

    
      3.1        Standard of Performance. Manager shall have the right, consistent with and subject to the provisions of this Agreement and
            the Company Agreement, to determine, the method, manner and means by which the Services will be performed. MANAGER DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, WITH RESPECT TO THE SERVICES.

      

      

      3.2        Limitation of Liability; Disclaimer. Neither Manager nor any of its officers, directors, managers, principals, stockholders,
            partners, members, employees, agents, attorneys, representatives and Affiliates (each a “Related Party” and, collectively, the “Related Parties”) shall be liable to the Company or any of its Affiliates for any loss, liability, damage or expense arising out of or in connection with the performance of any Services
            contemplated by this Agreement, unless such loss, liability, damage or expense shall be proven to result directly from the willful misconduct or fraudulent acts or omissions of Manager or such Related Party. In no event will Manager or any of
            its Related Parties be liable to the Company for special, indirect, punitive or consequential damages, including, without limitation, loss of profits or lost business, even if Manager has been advised of the possibility of such damages. Under
            no circumstances will the liability of Manager and Related Parties exceed, in the aggregate, the fees actually paid to Manager hereunder.

    

    
      
        2

        
          
 

      

      ARTICLE 4

      INDEMNIFICATION

      

      

    

    
      The Company shall indemnify and hold harmless Manager and each of its Related Parties (each, an “Indemnified Party”) from and against any and all losses, claims, actions, damages and liabilities, joint or several, to which such Indemnified Party may become subject under any applicable statute, law,
        ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment or decree, made by any third party or otherwise, relating to or arising out of the Services or other matters referred to in or contemplated by this Agreement or
        the engagement of such Indemnified Party pursuant to, and the performance by such Indemnified Party, of the Services or other matters referred to or contemplated by this Agreement, and the Company will reimburse any Indemnified Party for all costs
        and expenses (including, without limitation, reasonable attorneys’ fees and expenses) as they are incurred in connection with the investigation of, preparation for or defense of any pending or threatening claim, or any action or proceeding arising
        therefrom, whether or not such Indemnified Party is a Party thereto. The Company will not be liable under the foregoing indemnification provision to the extent that any loss, claim, damage, liability, cost or expense is determined by a court, in a
        final judgment from which no further appeal may be taken, to have resulted solely from the willful misconduct or fraudulent acts or omissions of such Indemnified Party. The reimbursement and indemnity obligations of the Company, under this Article
        4 shall be in addition to any liability which the Company may otherwise have, shall extend upon the same terms and conditions to any Affiliate of Manager and any Related Party or controlling persons (if any), as the case may be, of Manager and any
        such Affiliate and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Company, Manager, any such Affiliate and any such Related Party or other person. The provisions of this Article
        4 shall survive the termination of this Agreement.

      
        

        

        
          ARTICLE 5

          RECORDS

          

          

        

        All records, to the extent solely relating to the operations of the Company, including, without
          limitation, all books of account and general administrative records, shall be and remain the sole property of the Company.

        
           

          ARTICLE 6

          RELATIONSHIP OF THE PARTIES; THIRD PARTY BENEFICIARY

           

        

        6.1          Independent Contractor. Manager is an independent contractor under this Agreement. Except as expressly set forth herein, Manager does not have the authority to, and Manager hereby agrees that it shall not, directly or indirectly, contract for any
            obligations of any kind in the name of or chargeable against the Company without the prior written consent of the Company. All persons providing services to the Company shall be employees or independent contractors under the supervision of
            Manager, and shall not be employees of the Company with respect to such services. As such, Manager shall furnish all materials, supplies and personnel necessary to perform its obligations hereunder, and Manager shall have the sole
            responsibility of paying the salaries, taxes and all other expenses relating to each employee of Manager, including those employees that provide services to the Company pursuant to this Agreement.

        

        

        6.2         Third Party Beneficiary. On or about the Effective Date, A. Haag Sherman (“Sherman”) became the Chief Executive Officer and a manager of Manager, which is (a) the manager of the Company, which is the sole member of Advisors (defined below),
              and (b) the manager of Advisors. The Parties acknowledge that Sherman would not have undertaken these positions with Manager without Manager agreeing to continue to provide to the Company the Services set forth herein. Therefore, the Parties hereby agree that Sherman shall be, and is hereby, named as an express third-party beneficiary of this Agreement, with full rights as such.

      

    

    
      3

      
        
 

    

    
      ARTICLE 7

      TERM AND TERMINATION

      

      

    

    
      7.1          Term and Termination. The term of this Agreement shall commence on the Effective Date and continue thereafter until the
            earliest of:

      

      

    

    
      (a)          the payment in full of the indebtedness evidenced by those certain promissory notes executed by FMR (defined below) in favor of Dental Community Financial Holdings, Ltd.; or

      

      

      (b)          the dissolution or liquidation of either Party.

      

      

    

    
      7.2          Termination for Breach. This Agreement may be terminated for cause by either Party, if the other Party breaches any material
            provision of this Agreement and fails to cure the breach within thirty (30) days of receiving written notice thereof.

      

      

      7.3        Survival. Notwithstanding anything in this Agreement to the contrary, (a) the provisions of Section 4 shall survive the
            termination of this Agreement and (b) no termination of this Agreement, whether pursuant to Section 7.2 or otherwise, shall affect the Company’s duty to pay any fees accrued, or reimburse any cost or expense incurred, pursuant to the terms of
            this Agreement prior to the effective date of such termination.

      

      

    

    
      ARTICLE 8

      MISCELLANEOUS

      

      

    

    
      8.1         Company Agreement. Manager acknowledges and confirms that it is a party to the Company Agreement and is subject to the
            provisions set forth therein. In the event of a conflict, the provisions of the Company Agreement shall control.

      

      

      8.2          Further Assurances. Each Party agrees to execute and deliver such documents and take such actions as the other shall
            reasonably request for the purposes of carrying out the intent of this Agreement and the transactions contemplated hereby.

      

      

      8.3        Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and
            shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by an internationally recognized overnight courier; (c) on the date sent by facsimile or
            electronic mail transmission of a PDF document (with confirmation of transmission in the case of facsimile) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the
            recipient; or (d) on the third day after the date mailed, by registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective Parties at the following addresses (or at such other address for a Party
            as shall be specified in a notice given in accordance with this Section 8.3):

    

    
      4

      
        
 

    

    

    

    	
            If to Manager:

          	
            6900 N. Dallas Parkway

          	 
	 	
            Suite 500

          	 
	 	
            Plano, Texas 75024

          	 
	 	
            Attention: A. Haag Sherman

          	 
	 	
            Facsimile: 972-663-3799

          	 
	 	
            Email: hsherman@shermanlp.com

          	 
	 	  	 
	
            If to the Company:

          	
            6900 N. Dallas Parkway

          	 
	 	
            Suite 500

          	 
	 	
            Plano, Texas 75024

          	 
	 	
            Attention: A. Haag Sherman

          	 
	 	
            Facsimile: 972-663-3799

          	 
	 	
            Email: hsherman@shermanlp.com

          	 
	 	  	 
	
            If to Sherman

          	
            Mr. A. Haag Sherman

          	 
	 	
            2520 Pelham Drive

          	 
	 	
            Houston, Texas 77019

          	 
	 	Email: 	
            hsherman@shermanlp.com

          	 

    
      

      

      8.4        Headings. The headings in this Agreement are inserted for convenience or reference only, are in no way intended to describe,
            interpret, define, or limit the scope, extent or intent of this Agreement or any provision of this Agreement and shall not affect the interpretation of this Agreement.

      

      

      8.5        Entire Agreement. This Agreement and the Company Agreement contain the entire agreement between the Parties with respect to
            its subject matter and supersede any and all prior or contemporaneous written or oral agreements, representations or warranties between them respecting the subject matter hereof.

      

      

      8.6          Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such
            invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other
            provision is invalid, illegal or unenforceable, the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that
            the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

      

      

      8.7          No Third-Party Beneficiaries. This Agreement is for the sole benefit of the Parties hereto and their respective successors
            and permitted assigns and, except as provided in Section 1.1 and Section 6.2, nothing herein, express or implied, is intended to or shall confer upon any other person any legal or equitable right, benefit or remedy of any nature whatsoever,
            under or by reason of this Agreement.

      

      

      8.8          Amendments. No amendment or modification of this Agreement shall be valid or binding
            upon any Party hereto unless made in writing and signed by its duly authorized officer; provided, however, the Parties may not amend or terminate this Agreement
          without the prior written consent of Sherman.

    

    
      5

      
        
 

    

    
      8.9         Assignment; Successors and Assigns. Neither this Agreement, nor any rights or obligations hereunder, shall be assignable by
            either Party hereto unless approved in writing by the other Party and Sherman. Manager retains the right to subcontract for performance of any portion of its duties hereunder by one or more third parties, provided that Manager shall not be
            released from its liabilities and obligations hereunder without the express written consent of Sherman. In connection with the transactions contemplated by this Agreement, III:I Financial Research Management, L.P. (“FMR”) shall be converted
            from a Texas limited partnership to a Texas limited liability company named Tectonic Advisors, LLC (“Advisors”). The Parties hereto agree that this Agreement shall
            be binding on FMR and any successor thereto, including Advisors.

      

      

      8.10       Attorneys’ Fees. In any litigation arising out of this Agreement, the prevailing Party shall be entitled to recover from the
            other Party all costs and expenses, including, without limitation, attorneys’ fees, paid or incurred by such Party in connection with such litigation.

       

      8.11       Governing Law. All issues and questions concerning the application, construction, validity, interpretation and enforcement of
            this Agreement shall be governed by and construed in accordance with the internal laws of the State of Texas, without giving effect to any choice or conflict of law provision or rule (whether of the State of Texas or any other jurisdiction)
            that would cause the application of laws of any jurisdiction other than those of the State of Texas.

      

      

      8.12       Arbitration. Any dispute, controversy or claim arising under or relating to this Agreement or any breach or threatened breach
            hereof (an “Arbitrable Dispute”) shall be resolved exclusively by final and binding arbitration in the State of Texas administered by the American Arbitration
            Association pursuant to its Commercial Arbitration Rules. Any demand for arbitration shall be in writing, shall be served on the other Party in the manner prescribed herein for the giving of notices, and shall set forth a short statement of the
            factual basis for the claim, specifying the matter or matters to be arbitrated. The Arbitrable Dispute shall be heard by a three arbitrator panel. In a three member panel arbitration, each of the two Parties to the Arbitrable Dispute shall
            select one independent arbitrator expert in the subject matter of the Arbitrable Dispute from that Party’s list of three independent arbitrators after the other Party (or representative, if applicable) has had the opportunity to designate as
            objectionable and eliminate one arbitrator from the other’s list within seven days after submission thereof. The two arbitrators so selected by the Parties shall select a third independent arbitrator expert in the matter of the Arbitrable
            Dispute. Any arbitration pursuant hereto shall be conducted by the arbitrators under the guidance of the Federal Rules of Civil Procedure and the Federal Rules of Evidence, but the arbitrators shall not be required to comply strictly with such
            Rules in conducting any such arbitration. All such arbitration proceedings shall take place in the State of Texas. The fees and expenses of the arbitrators and any related costs and expenses initially shall be borne equally by the two sides to
            the Arbitrable Dispute. The arbitrators shall have the authority to award any remedy or relief that a state district court of the State of Texas could order or grant, including, without limitation, specific performance of any obligation created
            under this Agreement, the awarding of punitive damages, the issuance of an injunction, or the imposition of sanctions for abuse or frustration of the arbitration process. The arbitrators shall render their decision and award in writing and
            counterpart copies thereof shall be delivered to each Party. The decision and award of the arbitrators shall be binding on all Parties. In rendering such decision and award, the arbitrators shall not add to, subtract from or otherwise modify the provisions of this Agreement. Any Party to the arbitration may seek to have judgment upon the award rendered by the arbitrators entered in any
          court having jurisdiction thereof. Each Party agrees that it will not file any suit, motion, petition or otherwise commence any legal action or proceeding for any matter which is required to be submitted to arbitration as contemplated herein
          except in connection with the enforcement of an award rendered by the arbitrators. Upon the entry of an order dismissing or staying any action or proceeding filed contrary to the preceding sentence, the Party which filed such action or proceeding
          shall promptly pay to the other Party the reasonable attorney’s fees, costs and expenses incurred by such other Party prior to the entry of such order.

    

    
      6

      
        
 

    

    
      8.13       Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
            together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile or electronic mail transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this
            Agreement.

      

      

      8.14       No Strict Construction. The Parties to this Agreement have participated jointly in the negotiation and drafting of this
            Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the Parties, and no presumption or burden of proof will arise favoring or disfavoring any Party by
            virtue of the authorship of any of the provisions of this Agreement.

    

    
      

      

      [Remainder of Page Intentionally Left Blank.]

    

    
      7

      
        
 

    

    
      IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of the Effective Date by their respective officers thereunto duly
        authorized.

      

      

    

    
      	 	
              MANAGER:

            
	 	 	 	 
	 	
              TECTONIC SERVICES, LLC

            
	 	
              By:

            	/s/ A. Haag Sherman
	 	
              Name:

            	
              A. Haag Sherman

            
	 	Title:  	Chief Executive Officer
	 	 	 
	 	
              COMPANY:

            
	 	 
	 	
              TECTONIC HOLDINGS, LLC

            
	 	 
	 	
              By:

            	
              Tectonic Services, LLC, 

              its manager

            
	 	 	
              By:

            	/s/ A. Haag Sherman

            
	 	 	
              Name:

            	
              A. Haag Sherman

            
	 	 	
              Title:

            	
              Chief Executive Officer

            

    

     

    Signature Page to

    Management Services Agreement

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