Document:

EX-10.1

October 8, 2009

Pat Robinson

Hand Delivered

Re: Separation Agreement and General Release

Dear Pat:

This letter when signed by you, will constitute the full agreement between you and Newell
Rubbermaid (“the Company”) concerning the terms of your employment and eventual separation from
employment (“Agreement”).

	 	1.	 	Your employment with the Company will be reduced beginning 11:59 PM, December 31, 2009.
During your reduced level of employment you will continue to be entitled to the benefits
described in Section 2 below. Thereafter, your employment with the Company will be
terminated effective 11:59 PM, September 30, 2010 (“Separation Date”).

	 	2.	 	In consideration of your acceptance of this Agreement and your execution and
non-revocation of the attached Supplemental Separation Agreement and Release (“Supplemental
Release”) (attached as Exhibit A), you will be entitled to the following items during your
reduced level of employment from January 1, 2010 through the Separation Date:

	 	(a)	 	The Company shall provide you with a base salary of $345,967 payable
over your 9 months of employment in 2010 at such intervals as salaries are
paid by the Company to its executive employees, but not less frequently than
semi-monthly. You agree to work in whatever capacity as directed by the
Company until the Separation Date, which the parties agree shall be at a
rate of more than 20% of the rate of service you provided to the Company
since January 1, 2007. If your employment is terminated by the Company for
cause before the Separation Date, you will not be entitled to any additional
payments under this Section 2(a), and you will not be entitled to any
severance under any plan or program maintained by the Company.	 

	 	(b)	 	Your period of employment provided hereunder will be counted for
purposes of satisfying the age and service requirements under the 2008
Deferred Compensation Plan so that your SERP Cash Account under the 2008
Deferred Compensation Plan may be paid at the time and in the form of
payment that you have elected in accordance with the terms of the 2008
Deferred Compensation Plan.	 

	 	(c)	 	You will be eligible to receive a SERP Cash Account Credit for 2009
under the 2008 Deferred Compensation Plan in an amount and at such time as
provided under the terms of the 2008 Deferred Compensation Plan. You will
not be entitled to a credit to your SERP Cash Account for 2010.	 

	 	(d)	 	You will remain eligible to receive a bonus under the Management
Cash Bonus Plan for the 2009 performance period based on satisfaction of
applicable performance criteria. Such bonus shall be paid in accordance
with the terms of the Management Cash Bonus Plan. You will not be eligible
to participate in the Management Cash Bonus Plan or in any other long-term
or annual incentive plan for performance periods commencing in 2010.	 

	 	(e)	 	You will not accrue vacation during your reduced level of
employment.	 

	 	(f)	 	You will not receive Credited Service under the Newell Rubbermaid
Supplemental Executive Retirement Plan during the reduced level of
employment.	 

Except as otherwise provided herein, you shall be entitled to participate in all
benefit plans adopted for the general benefit of the Company’s employees, such as
pension plans, medical plans (including dental coverage) and group or other
insurance plans to the extent that you otherwise are and remain eligible to
participate therein, and subject to the same employee contribution rates that
apply to employees.

	 	3.	 	In consideration of your acceptance of this Agreement, you will be entitled to the
following payments and benefits on or after the Separation Date, provided you do not resign
or the Company does not terminate your employment for cause prior to the Separation Date.
If the Company terminates your employment without cause prior to the Separation Date, you
shall remain entitled to the benefits provided in this Section 3, provided you execute, and
do not revoke, the Supplemental Release.

	 	(a)	 	Your interest in your SERP Cash Account, including the 2009
contribution noted above, will become 100% vested (to the extent not already
vested) on the 8th day after you have signed and not revoked the
Supplemental Release.	 

	 	(b)	 	Your 2007 grant of 13,787 shares of restricted stock under the
Newell Rubbermaid Inc. Long Term Incentive Plan (“LTIP”) will become 100%
vested on February 6, 2010 in accordance with the terms of the LTIP and
related award agreement.	 

	 	(c)	 	If you sign the Supplemental Release on September 30, 2010, then
your 2008 grant of 9,842 shares of restricted stock that were granted
February 13, 2008 under the LTIP (“LTIP Shares”) will become 100% vested on
the 8th day after the Separation Date. If you sign the Supplemental Release
on any date after September 30, 2010, then the LTIP Shares will become 100%
vested on the 8th day after you have signed and not revoked the Supplemental
Release.	 

	 	(d)	 	You will be eligible to receive shares for the 49,500 restricted
stock units (“RSUs”) granted to you on February 11, 2009 under the LTIP. The
49,500 RSUs will become vested on your Separation Date and will be settled
for stock, subject to the requirements of Section 12 of this Agreement, at
the time provided under the 2009 RSU award agreement, but in no event before
the 8th day after you sign and do not revoke the Supplemental Release. If
the Supplemental Release has not been signed and become irrevocable by
October 30, 2010, you will forfeit the 49,500 RSUs.	 

	 	(e)	 	Your stock options granted under the 1993 and 2003 Stock Option
Plans will continue to vest through your Separation Date in accordance with
the terms of the applicable stock option agreement as though you remained a
full-time employee through the Separation Date. All of your stock options
granted under the 1993 or 2003 Stock Option Plans that will have become
vested as of your Separation Date will be exercisable until the earlier of:
(i) September 30, 2011 and (ii) the 10th anniversary of the date of the
original grant. All of your stock options granted under the 1993 or 2003
Stock Option Plans that are not vested as of your Separation Date will
remain outstanding and become 100% vested on February 11, 2012. Your
options that vest on February 11, 2012 will be exercisable until the earlier
of: (i) February 11, 2013 and (ii) the 10th anniversary of the date of the
original grant.	 

	 	(f)	 	As additional consideration for your acceptance of this Agreement,
the Company will continue to provide group health benefits and dental
benefits to you and, if applicable, your dependents, at the same cost it
charges its employees. Assuming you continue to pay the required
contributions, this continued medical and dental coverage will expire on the
earlier of your sixty-fifth (65th) birthday or the date you become eligible
for government-sponsored similar coverage. The Company, in its sole
discretion, may elect to purchase separate health and/or dental insurance
for you and your spouse, provided said insurance contains similar terms and
conditions. The Company reserves the right to change the benefits provided
or your contribution amount, consistent with changes applicable to the
Company’s employees generally.	 

	 	(g)	 	You may purchase your Company-leased car within 30 days of the
Separation Date at its then black-book price.	 

	 	(h)	 	Upon your termination of employment on the Separation Date, you will
be entitled to the benefits provided under this Section 3, and you will
not be entitled to any other severance benefit under any plan or
program maintained by the Company. Except as stated above, all other
benefits, bonuses and compensation will end on the Separation Date.
However, this Agreement does not affect any existing vested rights
that you may have in the Company’s bonus, deferred compensation, pension,
retirement and/or 401(k) plans. You will receive, under separate cover,
information regarding your rights and options, if any, under said plans.	 

	 	4.	 	In consideration of the payments and benefits provided to you above, to which you are
not otherwise entitled and the sufficiency of which you acknowledge, you agree:

	 	(a)	 	On behalf of yourself and your heirs, administrators, executors and
assigns, you hereby fully, finally and unconditionally release and forever
discharge the Company and its parent, subsidiary and affiliated entities and
all their former and present officers, directors, shareholders, employees,
trustees, fiduciaries, administrators, attorneys, consultants, agents, and
other representatives, and all their respective predecessors, successors and
assigns (collectively “Released Parties”), in their corporate, personal and
representative capacities, from any and all obligations, rights, claims,
damages, costs, attorneys’ fees, suits and demands, of any and every kind,
nature and character, known or unknown, liquidated or unliquidated, absolute
or contingent, in law and in equity, enforceable under any local, state or
federal common law, constitution, statute or ordinance, which arise from or
relate to your past employment with the Company or the termination thereof,
or any past actions or omissions of the Company or any of the Released
Parties, including without limitation, rights and claims arising under the
Family and Medical Leave Act, Title VII of the Civil Rights Act of 1964, as
amended, the Americans with Disabilities Act of 1990, as amended, the Age
Discrimination in Employment Act of 1967, as amended, and all claims
arising under the laws of Georgia, including the Georgia Equal Pay Act, Ga.
Code Ann. §34-5-3 et seq., Georgia Equal Employment for Persons with
Disabilities Code, Ga. Code Ann. §34-6A-1, Georgia law on age
discrimination, Ga. Code Ann. §34-1-2 (collectively “Released Claims”);
provided, however, that nothing herein shall release the Company of its
obligations to you under this Separation Agreement or any indemnification
obligations to you under the Company’s bylaws, certificate of incorporation,
or Delaware law. Subject to applicable law, you also warrant that you have
not filed or sued and will not sue or file any actions against the Company
or any of the Released Parties with respect to the Released Claims. You
understand and agree that this release includes a release of all Released
Claims arising on or before the day you sign this Agreement whether known or
unknown.	 

You further acknowledge, agree and are hereby informed that this Agreement
includes a release of claims for age discrimination arising under the Age
Discrimination in Employment Act, as amended.

You recognize and understand that the foregoing is a general release by
which you are giving up the opportunity to obtain compensation, damages,
and other forms of relief for yourself. This Agreement, however, is not
intended to and does not interfere with the right of any governmental
agency to enforce laws or to seek relief that may benefit the general
public, or your right to assist with or participate in that process. By
signing this Agreement, however, you waive any right to personally recover
against the Released Parties, and you give up the opportunity to obtain
compensation, damages or other forms of relief for you other than that
provided in this Agreement.

	 	(b)	 	You recognize and agree that in exchange for the consideration
provided in this Agreement that you hereby agree to execute and not revoke
the Supplemental Release. You further agree that the consideration
identified in this Agreement is specifically identified as consideration for
the Supplemental Release, the sufficiency of which you hereby acknowledge.	 

	 	5.	 	Non-Competition and Non-Solicitation

	 	(a)	 	The Company. The Company is a global marketer of consumer
and commercial products.	 

	 	(b)	 	Your Job Duties. You agree that as the Company’s Chief
Financial Officer, your primary job duty during your entire tenure with the
Company was the management of the Company’s finances including, but not
limited to, overseeing the Company’s quarterly and annual financial
reporting obligations, and that you are regularly exposed to trade secrets,
confidential, and proprietary information in addition to financial records.
You agree that the business of the Company extends to all 50 states and that
during your employment with the Company you have gained competitive,
confidential, trade secret, and proprietary information relating to the
Company and its business in all 50 states. You further agree that
disclosure or use of this information by you or by any other entity would
lead to irreparable harm to the Company.	 

	 	(c)	 	Employee’s Obligations	 

	 	(i)	 	Non-Competition. Through the Separation
Date, you agree that you will not perform the same or substantially
the same job duties on behalf of a business or organization that
competes with the Company. Further, you agree that Company operates
on a global basis and this restriction is worldwide.	 

	 	(ii)	 	Non-Solicitation. You agree that you
previously entered into a Non-Solicitation Agreement with the
Company in February 2006, attached hereto as Exhibit B, and that
such agreement continues in full force and effect for a period of
two years following the Separation Date. You further agree that the
consideration in the Non-Solicitation Agreement is sufficient to
support the obligations undertaken by you in that agreement.
However, you further reaffirm those obligations in this Agreement
and agree that the consideration provided in this Agreement is
adequate consideration to reaffirm those obligations.	 

	 	(d)	 	Reasonableness. You hereby acknowledge and agree that: (i)
the restrictions provided in this section are reasonable in time and scope
in light of the necessity for the protection of the business and good will
of the Company and the consideration provided to you under this Agreement;
and (ii) your ability to work and earn a living will not be unreasonably
restrained by the application of these restrictions.	 

	 	(e)	 	Injunctive Relief. You also recognize and agree that should
you fail to comply with the restrictions set forth above regarding
Non-Competition and/or Non-Solicitation, which restrictions you recognize
are vital to the success of the Company’s business, the Company would suffer
irreparable harm for which there is no adequate remedy at law due to the
impossibility of ascertaining exact money damages. Therefore, you agree
that in the event of the breach or threatened breach by you of any of the
terms and conditions of this Agreement, the Company shall be entitled, in
addition to any other rights or remedies available to it, to institute
proceedings in a federal or state court and to secure immediate temporary,
preliminary and permanent injunctive relief. In the event the
enforceability of any of the covenants in this section are challenged in
court, the applicable time period as to such covenant shall be deemed tolled
upon the filing of the lawsuit challenging the enforceability of this
Agreement until the dispute is finally resolved and all periods of appeal
have expired.	 

	 	6.	 	You understand and agree that this Agreement contemplates and memorializes an
unequivocal, complete and final dissolution of your employment relationship with the
Company on the Separation Date, and that, therefore, you will have no right to be
reinstated to employment with or rehired by the Company after the Separation Date, and that
after the Separation Date, the Company and its affiliated and related entities and their
successors and assigns shall have no obligation to consider you for employment. You
further agree that you will not apply for employment with the Company or any Released Party
at any time.

	 	7.	 	You agree to return to the Company all of the Company’s property on or before the
Separation Date, including, without limit, any electronic or paper documents and records
and copies thereof that you received or acquired during your employment regarding the
Company’s practices, procedures, trade secrets, customer lists, or product marketing, and
that you will not use the same for your own purpose. Unless required or otherwise
permitted by law, you further agree that while you are considering this Agreement, through
the Separation Date and at any time following the Separation Date, you will not disclose to
any person, firm, or corporation or use for your own benefit any information regarding the
following:

	 	(a)	 	Any secret or confidential information obtained or learned by you in
the course of your employment with Company with regard to the operational,
financial, business or other affairs of Company or its subsidiaries,
divisions, or parent companies including, without limitation, proprietary
trade “know how” and secrets, financial information and models, customer
lists, business, marketing, sales and acquisition plans, identity and
qualifications of Company’s employees, sources of supply, pricing policies,
proprietary operational methods, product specifications or technical
processes; and	 

	 	(b)	 	The benefits and terms of this Agreement, except that you may
disclose this information to your spouse and your attorney, accountant or
other professional advisor to whom you must make the disclosure in order for
them to render professional services to you, provided that you first advise
them of this confidentiality provision and they also agree to maintain the
confidentiality of the benefits and terms of this Agreement.	 

	 	8.	 	Subject to applicable law, in the event that you breach any of your obligations under
this Agreement, the Company is entitled to terminate your employment, stop any payments or
other benefits provided hereunder and obtain all other relief provided by law or equity.

	 	9.	 	It is agreed that neither you nor the Company, or any of its officers, directors or
employees, make any admission of any failing or wrongdoing or violation of any local, state
or federal law by entering into this Agreement, and that the parties have entered into this
Agreement simply to resolve your employment relationship in an amicable manner. While
considering this Agreement and at all times thereafter, you agree to act in a professional
manner and not make any disparaging or negative statements regarding the Company, or its
affiliated companies, and their officers, directors and employees, or to otherwise act in
any manner that would damage the business reputation of the same.

	 	10.	 	Through the Separation Date and thereafter, you agree, upon reasonable notice, to
advise and assist the Company and its counsel in preparing such operational, financial and
other reports, or other filings and documents, as the Company may reasonably request, and
otherwise cooperate with the Company and its affiliates with any request for information.
You also agree to assist the Company and its counsel in prosecuting or defending against
any litigation, complaints or claims against or involving the Company or its affiliates.
The Company shall pay your necessary travel costs and expenses in the event it requires you
to assist it under this paragraph. All expense reimbursements must be submitted within 30
days of the date the expense is incurred and the Company will reimburse such expenses
within 30 days of the date you submit your expenses for reimbursement.

	 	11.	 	You acknowledge and agree that this Agreement sets forth the entire understanding
between the parties concerning the matters discussed herein, that no promise or inducement
has been offered to you to enter into this Agreement except as expressly set forth herein,
and that the provisions of this Agreement are severable such that if any part of the
Agreement is found to be unenforceable, the other parts shall remain fully valid and
enforceable.

	 	12.	 	It is the Company’s intent that this Agreement be exempt from the application of, or
otherwise complies with, the requirements of Section 409A of the Internal Revenue Code
(“Section 409A”). Notwithstanding any other provision of this Agreement to the contrary,
and to the extent required to comply with Section 409A, the payments and benefits provided
by the Agreement shall be paid in accordance with the following provisions:

	 	(a)	 	Medical and Dental Benefits. The medical and dental
benefits provided in Section 3(f) are intended to be exempt from Section
409A pursuant to the requirements of Treasury Regulation Sections
1.409A-1(b)(9)(v)(B) and (C) regarding the payment and reimbursement of
medical and dental benefits within 18 months of a termination of
employment. To the extent these benefits are taxable and are provided more
than 18 months after your Separation Date, such benefits shall comply with
the following requirements: (i) the reimbursement of an eligible expense
must be made no later than the last day of the calendar year following the
calendar year in which the expense was incurred, (ii) the benefits provided
in Section 3(f) may not be exchanged for cash or another benefit, and (iii)
benefits payable or provided under Section 3(f) in one year may not affect
the amount of benefits payable or provided in another year.	 

	 	(b)	 	Delay of Payment to a Specified Employee. To the extent
that you are a “specified employee” (within the meaning of the Company’s
policy for tracking specified employees under Section 409A) on the
applicable date, then, subject to any permissible acceleration of payment
by the Company under Section 409A, any amount or benefit payable hereunder
that constitutes “deferred compensation” (within the meaning of Section
409A) shall be accumulated through and paid or provided on the first day of
the seventh month following your separation from service as defined under
Section 409A (or, if you die during such period, within 30 days after your
death) (in either case, the “Required Delay Period”) and the normal payment
schedule for any remaining payments will resume at the end of the Required
Delay Period. Each salary payment under Section 2(a) of this Agreement,
shall be considered a separate payment, as described in Treas. Reg. Section
1.409A-2(b)(2), for purposes of Section 409A of the Code.	 

	 	(c)	 	Administration. The payments and benefits provided under
this Agreement may not be deferred, accelerated, extended, paid out or
modified in a manner that would result in the imposition of an additional
tax under Section 409A. Although the Company shall use its best efforts to
avoid the imposition of taxation, interest and penalties under Section
409A, the tax treatment of the benefits provided under this Agreement is
not warranted or guaranteed. Neither the Company and its affiliates nor
their directors, officers, employees or advisers shall be held liable for
any taxes, interest, penalties or other monetary amounts owed by you or
other taxpayer as a result of this Agreement.	 

	 	13.	 	This Agreement supersedes and replaces all prior agreements regarding the same subject
matter.

	 	14.	 	You are hereby advised in writing to consult an attorney prior to executing this
Agreement. You have twenty-one (21) days from your receipt of this letter to accept the
terms of this Agreement. You may accept and execute this Agreement within those 21 days.

If you accept the terms of this Agreement, please date and sign this letter and return it to me.
Once you execute this Agreement, you have seven (7) days in which to revoke in writing your
acceptance by providing the same to me, and such revocation will render this Agreement null and
void. If you do not revoke your acceptance in writing and provide it to me by midnight on the
seventh day, this Agreement shall be effective the day after the seven-day revocation period has
elapsed.

Sincerely,

/s/ Jim Sweet

Jim Sweet

Executive Vice President and Chief Human Resources Officer

By signing this letter, I represent and warrant that I have not been the victim of age or other
discrimination or wrongful treatment in my employment and the termination thereof. I further
acknowledge that the Company advised me in writing to consult with an attorney, that I had at least
twenty-one (21) days to consider this Agreement, that I received all information necessary to make
an informed decision and I had the opportunity to request and receive additional information, that
I understand and agree to the terms of this Agreement, that I have seven (7) days in which to
revoke my acceptance of this Agreement, and that I am signing this Agreement voluntarily with full
knowledge and understanding of its contents.

Dated: October 8, 2009

Name: /s/ J. Patrick Robinson

Pat Robinson

EXHIBIT A

SUPPLEMENTAL SEPARATION AGREEMENT AND RELEASE

This Supplemental Separation Agreement and Release (“Supplemental Release”) is hereby entered
into by Pat Robinson (“Employee”) and Newell Rubbermaid (“Company”).

WHEREAS, Employee and the Company entered into a Separation Agreement and General Release (the
“Separation Agreement”) on        whereby Employee was employed on a reduced employment
basis from January 1, 2010 until September 30, , 2010 (the “Separation Date”), and Employee agreed
to sign this Supplemental Release at the conclusion of his employment;

WHEREAS, Employees’ employment with the Company has ended;

NOW, THEREFORE, Employee and the Company intending to be bound hereby agree:

1. As consideration of Employee’s acceptance of this Supplemental Release, Employee will
receive the following:

a. Employee will be eligible to receive a SERP Cash Account Credit for 2009 under the 2008
Deferred Compensation Plan in an amount and at such time as provided under the terms of the 2008
Deferred Compensation Plan. Employee will not be entitled to a credit to his SERP Cash Account for
2010. For the avoidance of doubt, Employee’s service for the period from January 1, 2010 through
September 30, 2010 will be counted for purposes of satisfying the age and service requirements
under the 2008 Deferred Compensation Plan so that his SERP Cash Account under the 2008 Deferred
Compensation Plan may be paid at the time and in the form of payment that he had elected in
accordance with the terms of the 2008 Deferred Compensation Plan.

b. Employee will remain eligible to receive a bonus under the Management Cash Bonus Plan for
the 2009 performance period based on satisfaction of applicable performance criteria. Such bonus
shall be paid in accordance with the terms of the Management Cash Bonus Plan. Employee will not be
eligible to participate in the Management Cash Bonus Plan or in any other long-term or annual
incentive plan for the 2010 performance period.

c. Employee’s interest in Employee’s SERP Cash Account, including the 2009 contribution noted
above, will become 100% vested on the 8th day after Employee signs and does not revoke this
Supplemental Release.

d. Employee’s 2008 grant of 9,842 shares of restricted stock that were granted February 13,
2008 under the LTIP will become 100% vested on the later to occur of: (1) the 8th day after the
Separation Date; or (2) the 8th day after Employee has signed and not revoked this Supplemental
Release.

e. Employee will be eligible to receive shares for the 49,500 restricted stock units (“RSUs”)
granted to the Employee on February 11, 2009 under the LTIP. The 49,500 RSUs became vested on the
Separation Date and will be settled, subject to the requirements of Section 12 of the Separation
Agreement, at the time provided under the 2009 RSU award agreement, but in no event before the 8th
day after Employee signs and does not revoke this Supplemental Release. If the Supplemental
Release has not been signed and become irrevocable by October 30, 2010, Employee will forfeit the
49,500 RSUs.

f. Employee’s stock options granted under the 1993 and 2003 Stock Option Plans will continue
to vest through the Separation Date in accordance with the terms of the applicable stock option
agreement as though Employee remained a full-time employee through the Separation Date. All of
Employee’s stock options granted under the 1993 or 2003 Stock Option Plans that will have become
vested as of Employee’s Separation Date will be exercisable until the earlier of: (i) September 30,
2011 and (ii) the 10th anniversary of the date of the original grant. All of Employee’s stock
options granted under the 1993 or 2003 Stock Option Plans that are not vested as of the Employee’s
Separation Date will remain outstanding and become 100% vested on February 11, 2012. Employee’s
options that vest on February 11, 2012 will be exercisable until the earlier of: (i) February 11,
2013 and (ii) the 10th anniversary of the date of the original grant.

g. The Company will continue to provide group health benefits and dental benefits to Employee
and, if applicable, Employee’s dependents, at the same cost it charges its other employees.
Assuming Employee continues to pay the required contributions, this continued medical and dental
coverage will expire on the earlier of Employee’s sixty-fifth (65th) birthday or the date the
Employee becomes eligible for government-sponsored similar coverage. The Company, in its sole
discretion, may elect to purchase separate health and/or dental insurance for the Employee and his
spouse, provided said insurance contains similar terms and conditions. The Company reserves the
right to change the benefits provided or Employee’s contribution amount, consistent with changes
applicable to the Company’s employees generally.

h. Employee may purchase Employee’s Company-leased car within 30 days of the Separation Date
at its then black-book price.

2. In consideration of the payments and benefits provided to Employee, to which Employee is
not otherwise entitled and the sufficiency of which Employee acknowledges, Employee agrees on
behalf of himself and his heirs, administrators, executors and assigns, Employee hereby fully,
finally and unconditionally releases and forever discharges the Company and its parent, subsidiary
and affiliated entities and all their former and present officers, directors, shareholders,
employees, trustees, fiduciaries, administrators, attorneys, consultants, agents, and other
representatives, and all their respective predecessors, successors and assigns (collectively
“Released Parties”), in their corporate, personal and representative capacities, from any and all
obligations, rights, claims, damages, costs, attorneys’ fees, suits and demands, of any and every
kind, nature and character, known or unknown, liquidated or unliquidated, absolute or contingent,
in law and in equity, enforceable under any local, state or federal common law, constitution,
statute or ordinance, which arise from or relate to Employee’s past employment with the Company or
the termination thereof, or any past actions or omissions of the Company or any of the Released
Parties, including without limitation, rights and claims arising under the Family and Medical Leave
Act, Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act of
1990, as amended, the Age Discrimination in Employment Act of 1967, as amended, and all claims
arising under the laws of Georgia, including the Georgia Equal Pay Act, Ga. Code Ann. §34-5-3 et
seq., Georgia Equal Employment for Persons with Disabilities Code, Ga. Code Ann. §34-6A-1, Georgia
law on age discrimination, Ga. Code Ann. §34-1-2 (collectively “Released Claims”); provided,
however, that nothing herein shall release the Company of its obligations to Employee under this
Supplemental Release or any indemnification obligations to Employee under the Company’s bylaws,
certificate of incorporation, or Delaware law. Subject to applicable law, Employee also warrants
that Employee has not filed or sued and will not sue or file any actions against the Company or any
of the Released Parties with respect to the Released Claims. Employee understands and agrees that
this release includes a release of all Released Claims arising on or before the day Employee signs
this Supplemental Release whether known or unknown.

Employee further acknowledges, agrees and is hereby informed that this Supplemental Release
includes a release of claims for age discrimination arising under the Age Discrimination in
Employment Act, as amended.

Employee recognizes and understands that the foregoing is a general release by which Employee
is giving up the opportunity to obtain compensation, damages, and other forms of relief for
himself. This Supplemental Release, however, is not intended to and does not interfere with the
right of any governmental agency to enforce laws or to seek relief that may benefit the general
public, or Employee’s right to assist with or participate in that process. By signing this
Supplemental Release, however, Employee waives any right to personally recover against the Released
Parties, and Employee gives up the opportunity to obtain compensation, damages or other forms of
relief for himself other than that provided in this Supplemental Release.

1

3. Non-Competition and Non-Solicitation

a. The Company. The Company is a global marketer of consumer and commercial products.

b. Job Duties. Employee agrees that as the Company’s Chief Financial Officer, his
primary job duty during his entire tenure with the Company was the management of the Company’s
finances including, but not limited to, overseeing the Company’s quarterly and annual financial
reporting obligations, and that Employee is regularly exposed to trade secrets, confidential, and
proprietary information in addition to financial records. Employee agrees that the business of the
Company extends to all 50 states and that during his employment with the Company he have gained
competitive, confidential, trade secret, and proprietary information relating to the Company and
its business in all 50 states. Employee further agrees that disclosure or use of this information
by him or by any other entity would lead to irreparable harm to the Company.

c. Employee’s Obligations. Employee agrees that he previously entered into a
Non-Solicitation Agreement with the Company in February 2006, attached hereto as Exhibit B, and
that such agreement continues in full force and effect for a period of two years following the
Separation Date. Employee further agrees that the consideration in the Non-Solicitation Agreement
is sufficient to support the obligations undertaken by Employee in that agreement. However,
Employee further reaffirms those obligations in this Supplemental Release and agree that the
consideration provided in this Supplemental Release is adequate consideration to reaffirm those
obligations.

d. Reasonableness. Employee hereby acknowledges and agrees that: (i) the
restrictions provided in this section are reasonable in time and scope in light of the necessity
for the protection of the business and good will of the Company and the consideration provided to
Employee under this Supplemental Release; and (ii) Employee’s ability to work and earn a living
will not be unreasonably restrained by the application of these restrictions.

e. Injunctive Relief. Employee also recognizes and agrees that should Employee fail
to comply with the restrictions set forth above regarding Non-Competition and/or Non-Solicitation,
which restrictions Employee recognizes are vital to the success of the Company’s business, the
Company would suffer irreparable harm for which there is no adequate remedy at law due to the
impossibility of ascertaining exact money damages. Therefore, Employee agrees that in the event of
the breach or threatened breach by Employee of any of the terms and conditions of this Supplemental
Release, the Company shall be entitled, in addition to any other rights or remedies available to
it, to institute proceedings in a federal or state court and to secure immediate temporary,
preliminary and permanent injunctive relief. In the event the enforceability of any of the
covenants in this section are challenged in court, the applicable time period as to such covenant
shall be deemed tolled upon the filing of the lawsuit challenging the enforceability of this
Supplemental Release until the dispute is finally resolved and all periods of appeal have expired.

4. Employee understands and agrees that this Supplemental Release contemplates and
memorializes an unequivocal, complete and final dissolution of Employee’s employment relationship
with the Company on the Separation Date, and that, therefore, Employee will have no right to be
reinstated to employment with or rehired by the Company after the Separation Date, and that after
the Separation Date, the Company and its affiliated and related entities and their successors and
assigns shall have no obligation to consider Employee for employment. Employee further agrees that
he will not apply for employment with the Company or any Released Party at any time.

5. Employee agree to return to the Company all of the Company’s property on or before the
Separation Date, including, without limit, any electronic or paper documents and records and copies
thereof that Employee received or acquired during Employee’s employment regarding the Company’s
practices, procedures, trade secrets, customer lists, or product marketing, and that Employee will
not use the same for his own purpose. Unless required or otherwise permitted by law, Employee
further agrees that while he is considering this Supplemental Release, through the Separation Date
and at any time following the Separation Date, Employee will not disclose to any person, firm, or
corporation or use for his own benefit any information regarding the following:

a. Any secret or confidential information obtained or learned by Employee in the course of his
employment with Company with regard to the operational, financial, business or other affairs of
Company or its subsidiaries, divisions, or parent companies including, without limitation,
proprietary trade “know how” and secrets, financial information and models, customer lists,
business, marketing, sales and acquisition plans, identity and qualifications of Company’s
employees, sources of supply, pricing policies, proprietary operational methods, product
specifications or technical processes; and

b. The benefits and terms of this Supplemental Release, except that Employee may disclose this
information to Employee’s spouse and Employee’s attorney, accountant or other professional advisor
to whom he must make the disclosure in order for them to render professional services to him,
provided that Employee first advise them of this confidentiality provision and they also agree to
maintain the confidentiality of the benefits and terms of this Supplemental Release.

6. Subject to applicable law, in the event that Employee breaches any of Employee’s
obligations under this Supplemental Release, the Company is entitled to terminate Employee’s
employment, stop any payments or other benefits provided hereunder and obtain all other relief
provided by law or equity.

7. It is agreed that neither Employee nor the Company, or any of its officers, directors or
employees, make any admission of any failing or wrongdoing or violation of any local, state or
federal law by entering into this Supplemental Release, and that the parties have entered into this
Supplemental Release simply to resolve Employee’s employment relationship in an amicable manner.
While considering this Supplemental Release and at all times thereafter, Employee agrees to act in
a professional manner and not make any disparaging or negative statements regarding the Company, or
its affiliated companies, and their officers, directors and employees, or to otherwise act in any
manner that would damage the business reputation of the same.

8. Through the Separation Date and thereafter, Employee agrees, upon reasonable notice, to
advise and assist the Company and its counsel in preparing such operational, financial and other
reports, or other filings and documents, as the Company may reasonably request, and otherwise
cooperate with the Company and its affiliates with any request for information. Employee also
agrees to assist the Company and its counsel in prosecuting or defending against any litigation,
complaints or claims against or involving the Company or its affiliates. The Company shall pay
Employee’s necessary travel costs and expenses in the event it requires Employee to assist it under
this paragraph. All expense reimbursements must be submitted within 30 days of the date the
expense is incurred and the Company will reimburse such expenses within 30 days of the date
Employee submits his expenses for reimbursement.

9. Employee acknowledges and agrees that this Supplemental Release sets forth the entire
understanding between the parties concerning the matters discussed herein, that no promise or
inducement has been offered to Employee to enter into this Supplemental Release except as expressly
set forth herein, and that the provisions of this Supplemental Release are severable such that if
any part of the Supplemental Release is found to be unenforceable, the other parts shall remain
fully valid and enforceable.

10. It is Company’s intent that this Supplemental Release be exempt from the application of,
or otherwise comply with, the requirements of Section 409A of the Internal Revenue Code (“Section
409A”). The payments and benefits provided under this Supplemental Release may not be deferred,
accelerated, extended, paid out or modified in a manner that would result in the imposition of an
additional tax under Section 409A. Although the Company shall use its best efforts to avoid the
imposition of taxation, interest and penalties under Section 409A of the Code, the tax treatment of
the benefits provided under this Supplemental Release is not warranted or guaranteed. Neither the
Company and its affiliates nor their directors, officers, employees or advisers shall be held
liable for any taxes, interest, penalties or other monetary amounts owed by Employee or other
taxpayer as a result of this Supplemental Release.

11. This Supplemental Release supersedes and replaces all prior agreements regarding the same
subject matter.

12. Employee is hereby advised in writing to consult an attorney prior to executing this
Supplemental Release. Employee has twenty-one (21) days from his receipt of this Supplemental
Release to accept the terms of this Supplemental Release. Employee may accept and execute this
Supplemental Release within those 21 days.

If Employee accepts the terms of this Supplemental Release, please date and sign this
Supplemental Release. Once Employee executes this Supplemental Release, Employee has seven (7)
days in which to revoke in writing his acceptance by providing the same to me, and such revocation
will render this Supplemental Release null and void. If Employee does not revoke his acceptance in
writing and provide it to me by midnight on the seventh day, this Supplemental Release shall be
effective the day after the seven-day revocation period has elapsed.

Newell Rubbermaid

Pat Robinson

EXHIBIT B

NON-SOLICITATION AGREEMENT

I acknowledge that: Newell Rubbermaid Inc. and its affiliated companies (collectively the
“Company”) is engaged in a highly competitive and diverse business; it has expended, and will
continue to expend, substantial amounts of time, money and effort in developing, perfecting and
maintaining its position in the market place and in securing a stable, well-trained work force; and
the Company desires to protect its legitimate business interests such that its work force will be
used solely for the benefit of the Company and not in competition with or to the detriment of the
Company.

In consideration of my continued employment and being eligible for participation in the Newell
Rubbermaid Inc. Long Term Incentive Plan (“LTIP”), which I acknowledge is adequate and sufficient
consideration for my promises set forth in this Agreement, I agree that during my employment and
for a period of two (2) years thereafter, regardless of whether my separation is voluntary or
involuntary or the reason therefor, I will not directly or indirectly, individually or on behalf of
any person or entity, solicit or induce, or assist in any manner in the solicitation or inducement
of, any employees of the Company, other than those in clerical or secretarial positions, to leave
their employment with the Company, or any of its subsidiaries, affiliates, divisions or parent
companies, or their successors or assigns, whether to accept employment with another person or
entity or not to accept employment with another person or entity.

I understand that if I do not accept this Agreement by responding to the email to which it is
attached, I will not be eligible to participate in the LTIP.

I further acknowledge and agree that: (i) the restrictions provided in this Agreement are
reasonable in time and scope in light of the necessity for the protection of the business and good
will of the Company and the consideration provided to me under this Agreement; and (ii) my ability
to work and earn a living will not be unreasonably restrained by the application of these
restrictions.

I also recognize and agree that should I fail to comply with the restrictions set forth above, the
Company would suffer substantial damage for which there is no adequate remedy at law due to the
impossibility of ascertaining exact money damages. I therefore agree that in the event of the
breach or threatened breach by me of any of the terms and conditions of this Agreement, the Company
shall be entitled, in addition to any other rights or remedies available to it, to institute
proceedings in a federal or state court to secure immediate temporary, preliminary and permanent
injunctive relief without the posting of a bond. I additionally agree that if I am found to have
breached my covenant in this Agreement, the two (2) year time period will not begin to run until
after the breach has ended, and the Company will be entitled to recover all costs and attorney fees
incurred by it in enforcing this Agreement.

I understand and agree that this Agreement shall be governed by the laws of the state where I was
primarily located during my last twelve (12) months of employment with the Company. I additionally
agree to submit to personal jurisdiction in the federal and state courts for that state, and that
all suits arising between the Company and me must be brought in said courts, which will be the sole
and exclusive venue for such claims.

OTHER AGREEMENTS

1. No Guarantee of Stock Grant or Employment. I understand, consent and agree that
participation in the LTIP is subject to all terms and conditions of the Plan and the Newell
Rubbermaid Inc. Stock Plan, and that this Agreement is not a guarantee of any particular grant of
stock under the LTIP. I further understand this Agreement is not a guarantee of continued
employment, and that my employment is at the will of the Company and me, which means that either I
or the Company are free to terminate my employment at any time for any reason or no reason.

2. Binding Effect and Assignment. I understand that this Agreement shall be binding on any
successor to the Company, whether by merger, consolidation, acquisition of all or substantially all
of the Company’s assets or business or otherwise, as fully as if such successor were a signatory
hereto. I also understand and agree that the Company may at any time without further action by me
assign this Agreement to any successor or any of its affiliated companies. In the event of any
such assignment, the assignee company shall succeed to all of the rights and obligations held by
the Company under this Agreement. I additionally understand and agree that I may be requested or
it may be necessary at times for me to be transferred between the companies that are affiliated
with and comprise the Newell Rubbermaid Inc. group of companies. I therefore agree that in the
event I am transferred to or become employed with another company that is part of said group of
companies, this Agreement shall automatically be assigned to that company without any further
action by me, and that I need not receive any additional consideration for this Agreement to be
enforceable against me by the assignee.

3. Severability. I recognize and understand that if any one or more of the provisions
contained in this Agreement shall, for any reason, be held to be illegal, invalid or unenforceable
in any respect, the remaining provisions of this Agreement shall remain in full force and effect
and shall not be affected by such provision or by its severance from this Agreement. I further
agree that if any one or more of the provisions contained in this Agreement shall for any reason be
held to be excessively broad as to geographic or durational scope, it shall be construed, by
limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law
as it then shall appear.

4. Amendments and Waivers. I understand that this Agreement cannot be changed, modified or
amended, and no provision or requirement hereof may be waived, without an agreement in writing
signed by both parties.

PLEASE ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTAND AND AGREE TO ALL OF THE PROVISIONS OF THIS
AGREEMENT, AND THAT YOU WERE AFFORDED SUFFICIENT OPPORTUNITY BY THE COMPANY TO OBTAIN INDEPENDENT
LEGAL ADVICE AT YOUR EXPENSE PRIOR TO EXECUTING THIS AGREEMENT, BY REPLYING TO THE EMAIL TO WHICH
THIS AGREEMENT IS ATTACHED.

2exhibit10d1posteffecta1.htm

     

     

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Exhibit 10.1

       

       

      BORROWER
REGISTRATION AGREEMENT

      

      

      This
Borrower Registration Agreement is made and entered into between you and Prosper
Marketplace, Inc. (“Prosper”).

      

      The
Prosper marketplace is a person-to-person online credit auction platform (the
“platform”) operated by Prosper for the registration of borrowers, lenders and
group leaders, the receipt, display and matching of listings and bids for loans
and the origination, sale, servicing and collection of principal of and interest
and other charges payable on loans. All loans obtained by Prosper borrowers
through the platform are made by WebBank, a Utah-chartered industrial bank
(“WebBank”).  Prosper provides services to WebBank in connection with the
origination of such loans and Prosper services all loans made to Prosper
borrowers through the platform. The following Agreement describes the
services and your rights and obligations should you elect to register as a
borrower on the platform. Prosper and WebBank are collectively referred to in
this Agreement as “we” or “us.”

      

      1.  Registration as a
Prosper Borrower. You are registering as a borrower in the Prosper
marketplace, so that you may be eligible to post loan requests or “listings” for
display on the platform to people who may be interested in bidding against one
another in a competitive auction format in connection with the making of a loan
to you by WebBank. We refer to the people who bid on listings as “lenders” even
though all loans to Prosper borrowers obtained through the platform are made by
WebBank. You agree to comply with the terms and provisions of this Agreement,
the Terms of Use of the Prosper website, and the Prosper Policies, as those
guidelines may be amended from time to time by Prosper in its sole discretion
(collectively, the “Prosper Terms and Conditions”). The Terms of Use and Prosper
Policies are accessible via a link at the bottom of the home page of the Prosper
website.

      

      We
reserve the right to restrict access to the platform to individuals who meet
minimum credit guidelines and other criteria, as determined by us in our sole
discretion.

      

      2.  Authorization to Obtain
Credit Report. You authorize us to obtain a credit report from one or more consumer credit
reporting agencies. We may use the credit report for any lawful purpose,
including but not limited to (i) for authentication purposes, to make sure you
are who you say you are, (ii) to determine how much debt you currently have, in
order to determine your debt-to-income ratio, (iii) to obtain your credit score
and assign you a Prosper Rating based in part on that score, (iv) to obtain and
display certain information and characteristics from your credit report from one
or more consumer credit reporting agencies, including but not limited to the
number, age, type and status of the credit lines currently being reported,
public records (such as bankruptcies and judgments) and mortgage loans appearing
on your credit report, and the number of your recent requests for credit, and
(v) to obtain and display on the Folio Investing Note Trader platform certain
information and characteristics from your credit report from one or more
consumer credit reporting agencies at any time or times that a Borrower Payment
Dependent Note corresponding to your loan is offered for sale by lenders holding
such Notes. Information from your credit report will be displayed on the Prosper
website with your listings. You authorize us to verify information in your
credit report, and you agree that Prosper may contact third parties to verify
any such information. We will obtain your credit report each time you post a
listing, except that we may not obtain a new credit report when you post
listings within thirty (30) days following the posting of an earlier
listing.

      

      3.  Listings. You
may request a loan from WebBank by posting a listing on the platform. The
minimum and maximum loan amounts you may request are posted on the Prosper
website

      
        
          
             

          

           

        

        
          1

          
            

          

        

        
           

        

      

      and are
subject to change by us at any time without notice. To post a listing, you must
provide the amount of the loan you are requesting and the maximum interest rate
you are willing to pay, subject to a minimum interest rate based on the Prosper
Rating assigned to your listing. At the time you post a listing you must also
provide your annual income, occupation and employment status. You authorize and
agree that we may display in your listing, and in listings displayed on the
Folio Investing Note Trader platform describing Borrower Payment Dependent Notes
corresponding to a loan you obtain through the Prosper platform that is offered
for sale by lenders holding such Notes, any information from your credit file
with the consumer credit reporting agency, including but not limited to the
following information:

      

      
        	
                 
      

              	
                (i)

              	
                Your
      Prosper Rating;

              

      

      
        	
                 
      

              	
                (ii)

              	
                Your
      debt-to-income ratio, expressed as a percentage, reflecting the ratio
      between the amount of your monthly non-mortgage debt, as compared to the
      amount of monthly income that you indicated when completing your
      listing;

              

      

      
        	
                 
      

              	
                (iii)

              	
                Whether
      you own a home;

              

      

      
        	
                 
      

              	
                (iv)

              	
                The
      number of accounts on which you are currently late on a
      payment;

              

      

      
        	
                 
      

              	
                (v)

              	
                The
      total past-due amount you owe on all delinquent and charged-off
      accounts;

              

      

      
        	
                 
      

              	
                (vi)

              	
                The
      number of 90+ days past due delinquencies on your credit report in the
      last 7 years;

              

      

      
        	
                 
      

              	
                (vii)

              	
                The
      number of negative public records (e.g., bankruptcies, liens, and
      judgments) on your credit report over the last 12 months, and over the
      last 10 years;

              

      

      
        	
                 
      

              	
                (viii)

              	
                The
      month and year your first recorded credit line (e.g., revolving,
      installment, or mortgage credit) was
opened;

              

      

      
        	
                 
      

              	
                (ix)

              	
                The
      total number of credit lines appearing on your credit report, along with
      the number that are open and
current;

              

      

      
        	
                 
      

              	
                (x)

              	
                The
      total balance on all of your open revolving credit
  lines;

              

      

      
        	
                 
      

              	
                (xi)

              	
                Your
      bankcard utilization ratio, expressed as a percentage, reflecting the
      ratio of the total balance used, to the aggregate credit limit on, all of
      your open bankcards; and

              

      

      
        	
                 
      

              	
                (xii)

              	
                The
      number of inquiries made by creditors to your credit report in the last
      six months.

              

      

      

      Listings
may also display your self-reported occupation, employment status and range of
income. If you are a member of a Prosper group when you post a listing, the
listing will also identify your group; however, you do not have to be a member
of a group to post a listing. You may also create a network of Prosper friends,
and if one or more of your Prosper friends or your fellow group members bid on
your listing, your listing will reflect that the bid was made by a fellow group
member or a Prosper friend. Your Prosper friends who bid on your listing may
also write a recommendation that will be displayed in your listing. Prosper
friends do not guarantee payments on your loan, and  bids and
recommendations of your listing from your Prosper friends do not obligate the
individual making the bid or recommendation to guarantee or make any payments on
your loan.

      

      You may
not include any personally identifying information, including, without
limitation, your name, address, phone number, email address, Social Security
number or driver’s license number, or your bank account or credit card numbers
in your listing or on your Prosper member web page, or elsewhere on the Prosper
Website. Listings that include this information are subject to cancellation by
Prosper, or deletion or redaction by Prosper of the personally identifying
information, although Prosper is under no obligation to take such actions and
you include such information solely at your own risk.

      

      Prosper
lenders may ask you questions about your loan listing and you may, but are not
required to, respond to such questions.  If you do elect to respond to
a lender’s question you may respond privately, or you may elect to have the
question and answer posted publicly in the listing.

      
        
          
             

          

           

        

        
          2

          
            

          

        

        
           

        

      

      Lenders’
questions are not posted in the listing or displayed elsewhere on our website
unless you elect to answer the question and elect to make the question and
answer publicly available, in which case the question and answer appears in the
listing.

      

      Borrower
listings are displayed on the platform. This means that people who visit the
Prosper website will be able to view your listing, and see your Prosper Rating,
your debt-to income ratio and other information, provided, however, that certain
information concerning your credit history will only be viewable by registered
Prosper lenders. Upon your submission of a listing, you authorize Prosper to
display the listing on the platform for purposes of obtaining a loan and for
enabling Prosper lenders who own Borrower Payment Dependent Notes (described in
Section 5 below) corresponding to your loan to offer such Notes for sale to
other lenders at any time while your loan is outstanding. You authorize and
agree that Prosper may obtain and display updated information from your credit
file with one or more consumer credit reporting agencies, as well as information
about the payment history and status of your loan, on the Folio Investing Note
Trader platform at
any time or times that a Borrower Payment Dependent Note corresponding to your
loan is offered for sale by lenders holding such Notes. To facilitate bids for
your listing or for listings posted by lenders offering to sell a Borrower
Payment Dependent Note corresponding to your loan, Prosper may forward the
listing by email to third parties, including but not limited to registered
Prosper lenders, and may display the listing in promotional, advertising and
marketing materials, and you authorize Prosper to do so.

      

      You
authorize Prosper to verify your residence, income, occupation and any other
information you provide in connection with a listing or your registration as a
borrower, and you agree that Prosper may contact third parties to verify
information you provide. If such information changes after you post a listing
but before the listing expires, you must either (i) promptly notify Prosper of
the change, or (ii) withdraw your listing. For example, if, while your listing
is displayed on the platform, your state of residence changes or the annual
income amount you provided to Prosper when you submitted your listing decreases
materially, you must either notify Prosper of the change, or withdraw the
listing. If you elect to withdraw your listing as a result of a change, you may
(but are not required to) post a new listing containing the updated information.
You cannot edit or amend your listing once it is posted on the platform;
however, you have the right to withdraw your listing at any time prior to
expiration of the listing, and you may post another listing if you desire.
Prosper reserves the right, in its sole discretion, to limit the number of
listings you post or attempt to post on the platform.

      

      Your
listing is a request for a loan from WebBank in the amount specified in the
listing, at an interest rate equal to the maximum interest rate set forth in
your listing. If your listing is matched with lender bids totaling the amount of
your requested loan, the interest rate on your loan may be lower than the
maximum rate you specified, but it will never be higher. You will not receive a
loan in an amount less than the amount specified in your listing, even if one or
more bids match a portion of your requested loan amount. In order to post a
listing on the platform you must have a good faith intent to obtain and repay
your loan and your listing must be consistent with that intent.

      

      You have
the right to withdraw your listing at any time prior to expiration of the
listing. If your listing receives a lender bid in, or lender bids totaling, the
amount of your requested loan, you may receive a loan from WebBank in the amount
you requested, subject to our right to verify information you provided in
connection with your listing and your registration as a Prosper user and our
other rights as described in Section 4 below. If a loan is made to you, you do
not have any right to rescind the loan.

      

      
        
          
             

          

           

        

        
          3

          
            

          

        

        
           

        

      

      Number of Listings. Prosper
reserves the right, in its sole discretion, to limit the number of listings you
post or attempt to post on the platform. You may have only one listing
outstanding at a time.

      

      Duration of
Listings. When you post a
listing, your listing will be displayed on the platform for fourteen (14) days
or for such other time period that we may in our sole discretion establish and
amend from time to time. However, if your listing receives a lender bid in, or
lender bids totaling, the full amount of your requested loan prior to expiration
of your listing, you may elect to end your listing early – you need not wait
until your listing expires. You may also designate your listing for “automatic
funding,” in which case your listing will end and no further bids on your
listing will be accepted toward your listing as soon as your listing receives a
bid or bids totaling the full amount of your requested loan. We reserve the
right to make the automatic funding feature available only to borrowers with
certain Prosper Ratings or other credit characteristics. The bidding period for
your listing will also end automatically if you receive bids totaling your
requested loan amount and the interest rate is bid down to the minimum interest
rate assigned to your listing.  When you post a listing, it will be
displayed on the platform along with all other listings until the listing ends
or expires, or until the listing is withdrawn by you or by us as provided in
Section 4 below.

      

      Additional Loans. Subject to
eligibility requirements that we may in our sole discretion establish and amend
from time to time, you may have up to two loans outstanding at any one time,
provided that the aggregate outstanding principal balance of your loans does not
exceed the maximum loan amount for your state of residence. To be eligible to
post a listing for a second loan, you must be current on your existing loan, and
you must have a record of on-time monthly loan payment performance, within such
guidelines as may be established and amended from time to time by us in our sole
discretion. You may not post a listing for a second loan until a specified
number of months has elapsed since the date you obtained your existing loan. The
guidelines and eligibility requirements for second loans are posted on the
Prosper website and are subject to change by us in our sole discretion at any
time without notice.

      

      Prohibited Activities. You
agree that you will not, in connection with any listings, bids, loans or other
transactions involving or potentially involving Prosper or WebBank, (i) make any
false, misleading or deceptive statements or omissions of material fact in your
listing; (ii) misrepresent your identity, or describe, present or portray
yourself as a person other than yourself, whether in a narrative description or
a photo in your listing; (iii) give to or receive from, or offer or agree to
give to or receive from any Prosper lender or other person any fee, bonus,
additional interest, kickback or thing of value of any kind in connection with a
requested or existing loan or in exchange for such person’s bid, recommendation,
or offer or agreement to bid on or recommend your listing; or (iv) represent
yourself to any person as a director, officer or employee of Prosper or WebBank,
unless you are such director, officer or employee.

      

      4.  Right
to Verify Information and Cancel Funding.

      

      a. We
reserve the right to verify the accuracy of all information provided by
borrowers, lenders and group leaders in connection with listings, bids and
loans. We also reserve the right to determine in our sole discretion whether a
registered user is using, or has used, the Prosper website illegally or in
violation of any order, writ, injunction or decree of any court or governmental
instrumentality, for purposes of fraud or deception, or otherwise in a manner
inconsistent with the Prosper Terms and Conditions or any agreement between
Prosper or WebBank and such user. We may conduct our review at any time –
before, during or after the posting of a listing, or before or after the funding
of a loan. You agree to respond promptly to our requests for information in
connection with your listing, accounts, or your registration with
Prosper.

      
        
          
             

          

           

        

        
          4

          
            

          

        

        
           

        

      

      

      b. In the
event we determine, prior to funding a loan, that a listing, or a bid for the
listing, contains materially inaccurate information (including but not limited
to unintended inaccuracies, inaccuracies resulting from errors by Prosper, or
inaccuracies resulting from changes in the borrower’s income, residence or
credit profile between the date a listing is posted and the date the listing is
to be funded) or was posted illegally or in violation of any order, writ,
injunction or decree of any court or governmental instrumentality, for purposes
of fraud or deception, or otherwise in a manner inconsistent with the Prosper
Terms and Conditions or any registration agreement, we may refuse to post the
listing or, if the listing has already been posted, remove the listing from the
platform and cancel all bids against the listing.

      

      c. When a
listing ends or expires with a bid or bids totaling the amount of a borrower’s
requested loan, we may conduct a “pre-funding” review prior to funding the loan.
Loan funding occurs when loan proceeds are disbursed into the borrower’s
designated deposit account. We may, at any time and in our sole discretion,
delay funding of a loan in order to enable us to verify the accuracy of
information provided by borrowers, lenders and group leaders in connection with
the listing or bids against the listing, and to determine whether there are any
irregularities with respect to the listing or the bids against the listing. We
may cancel or proceed with funding the loan, depending on the results of our
pre-funding review. If funding is cancelled, the listing will be removed from
the platform and all bids against the listing will be cancelled, and each
bidder’s funds will be returned to the Prosper funding account, available for
further bidding. In the event we cancel funding of a loan, Prosper will notify
the borrower, group leader (if any), and all bidders for the listing of our
determination to cancel funding of the loan.

      

      5.  Matching
of Bids and Listings; Loan Funding.

      

      a.
Registered Prosper lenders will be able to review your listing and may commit
funds to purchase, in various amounts, Borrower Payment Dependent Notes
("Notes") that Prosper may issue to lenders who, as winning bidders for your
listing, commit funds in connection with the making of your loan. The Notes
Prosper issues to these lenders will be dependent for payment on payments we
receive from you on your loan. This means that the Prosper lenders who committed
funds will receive payments on their Notes only to the extent you make payments
on your loan. You acknowledge and agree that a lender’s commitment to purchase a
Note corresponding to all or a portion of your loan from us does not confer any
rights to you. You also acknowledge and agree that Prosper lenders make their
own decisions whether to make bids in connection with your loan.

      

      b.
Prosper’s auction platform will automatically match your listing with any bids
that specify a yield percentage that corresponds to a minimum interest rate
equal to or below the maximum interest rate you would accept, subject to a
minimum interest rate based on the Prosper Rating assigned to your listing. Bids
are first matched with borrower listings with the highest offered interest rates
above the bidder’s minimum rate, and thereafter the bids are matched to borrower
listings with incrementally lower offered interest rates. Most listings are
matched with multiple lender bids.

      

      c. A
match of your listing with one or more bids in the full amount of your requested
loan results in a loan from WebBank to you, subject to our right to verify
information as provided in this Agreement. The loan will be evidenced by a
Promissory Note in the form set forth on the attached Exhibit A. Loan proceeds
are disbursed into your designated deposit account. The loan will be sold by
WebBank to Prosper, and Prosper will service the loan.

      

      d. We do
not warrant or guaranty that your listing will be matched with any bids. Your
listing must receive a bid in, or bids totaling, the entire amount of your
requested loan in order for

      
        
          
             

          

           

        

        
          5

          
            

          

        

        
           

        

      

      a loan to
be made. You will not receive a loan ifonly a portion (even a substantial
portion) of your requested loan amount is matched with a bid or
bids.

      

      e. To
safeguard your privacy rights, on listings your name and address will be
shielded from the view of bidders and prospective bidders. Only your Prosper
screen name will appear on listings, and only the screen name of the bidders
will appear with bids.

      

      6.  Compensation. If
you receive a loan, you must pay WebBank an origination fee. The current fee
amounts are posted in the Fees
and Charges section of the Prosper website, and are subject to change by
us at any time without notice. The origination fee is paid by the borrower out
of the loan proceeds at the time a loan is funded, so that the net amount of
loan proceeds you receive will be less than the full amount of your
loan.

      

      7.  Making Your Loan
Payments. At the time you register as a borrower, you must provide your
deposit account information to facilitate transfers of funds to and from your
deposit account. You agree to make your loan payments by automated withdrawals
from your designated account, or by the use of bank drafts drawn on your
designated account. At the time you create your listing, you will be asked to
choose the method of making your loan payments, and your loan payments will be
made by the payment method you choose. Prosper will act as the servicer for all
loans you obtain from WebBank through the platform, and all communications
regarding your loan must be made to Prosper.

      

      8. Group Membership. Groups on
Prosper may be rated according to the collective payment performance of the
group’s members, in which case if you are a member of a group your failure to
make loan payments when due, or the failure of another group member to make loan
payments when due, may have a negative effect on your group’s
rating.

      

      9.  Collection &
Reporting of Delinquent Loans. In the event you do not make your loan
payments on time, WebBank or any subsequent owner of the loan will have all
remedies authorized or permitted by the Promissory Note and applicable law. In
addition,  if you fail to make timely payments on your loan, your loan
may be referred to a collection agency for collection. Prosper may report loan
payment delinquencies in excess of thirty (30) days to one or more credit
reporting agencies in accordance with applicable law. Subject to limitations of
applicable law, you authorize and agree that Prosper or a collection agency may
contact you at any or all of the telephone numbers you provide to Prosper at or
after registration, or any of your other telephone numbers.

      

      10.  No Guarantee.
NEITHER PROSPER NOR WEBBANK WARRANTS OR GUARANTEES (1) THAT YOUR LISTING
WILL BE MATCHED WITH ANY BIDS, (2) THAT YOU WILL RECEIVE A LOAN AS A RESULT OF
POSTING A LISTING, OR (3) THAT IF YOUR LISTING IS MATCHED WITH BIDS YOU WILL
RECEIVE A LOAN WITH AN INTEREST RATE LESS THAN THE MAXIMUM RATE SPECIFIED IN
YOUR LISTING.

      

      11.  Restrictions on
Use. You are not authorized or permitted to use the Prosper website to
obtain, or attempt to obtain, a loan for someone other than yourself. You must
be an owner of the deposit account you designate for electronic transfers of
funds, with authority to direct that loan payments be made from the account.
Your designated account will be the account into which loan proceeds will be
deposited, and from which loan payments will be made. Although you are
registering as a borrower, you may also register and participate on the platform
as a lender or as a group leader. If you participate on the platform as a lender
any amounts in your Prosper funding account are subject to set-off against any
delinquent amounts owing on any loan or loans you obtain as a Prosper borrower.
You will not receive further notice in advance of our exercise of
our

      
        
          
             

          

           

        

        
          6

          
            

          

        

        
           

        

      

      right to
set-off amounts in your Prosper funding account against any delinquent amounts
owing on any loan or loans you obtain. If you obtain a loan and
fail to pay your loan in full, whether due to default, bankruptcy or other
reasons, you will not be eligible to post any further listings or re-register
with Prosper as a borrower, lender or group leader. Prosper may in its sole
discretion, with or without cause and with or without notice, restrict your
access to the Prosper website or platform.

      

      12.  Authority. You
warrant and represent that you have the legal competence and capacity to execute
and perform this Agreement.

      

      13.  Termination of
Registration. Prosper may in its sole discretion, with or without cause,
terminate this Agreement at any time by giving you notice as provided
below.  In addition, upon Prosper’s determination that you committed
fraud or made a material misrepresentation in connection with a listing, bid or
loan, performed any prohibited activity, or otherwise failed to abide by the
terms of this Agreement or the Prosper Terms and Conditions, Prosper may, in its
sole discretion, immediately and without notice, take one or more of the
following actions: (i) terminate or suspend your right to post listings or
otherwise participate on the platform; (ii) terminate this Agreement and your
registration with Prosper. Upon termination of this Agreement and your
registration with Prosper, any listings you have posted on the platform shall
terminate, and will be removed from the platform immediately. Any loans you
obtain prior to the effective date of termination resulting from listings you
had placed on the platform shall remain in full force and effect in accordance
with their terms.

      

      14.  Prosper’s Right to
Modify Terms.  Prosper has the right to change any term or
provision of this Agreement or the Prosper Terms and Conditions. Prosper will
give you notice of material changes to this Agreement, or the Prosper Terms and
Conditions, in the manner set forth in Section 16. You authorize Prosper to
correct obvious clerical errors appearing in information you provide to Prosper,
without notice to you, although Prosper expressly undertakes no obligation to
identify or correct such errors. This Agreement, along with the Prosper Terms
and Conditions, represent the entire agreement between you and Prosper regarding
your participation as a borrower on the platform, and supersede all prior or
contemporaneous communications, promises and proposals, whether oral, written or
electronic, between you and Prosper with respect to your involvement as a
borrower on the platform.

      

      15.  Member Web Page
Display and Content.  You may, but are not required to,
maintain a “Prosper member web page” on the Prosper website, where you can post
photos, content, logos or links to websites. If you elect to do so, you
authorize Prosper to display on the Prosper website all such material you
provide to Prosper. Any material you display on your member page must conform to
the Prosper Terms and Conditions, as amended from time to time, and material you
display or link to must not (i) infringe on Prosper’s or any third party's
copyright, patent, trademark, trade secret or other proprietary rights or right
of publicity or privacy; (ii) violate any applicable law, statute, ordinance or
regulation; (iii) be defamatory or libelous; (iv) be lewd, hateful, violent,
pornographic or obscene; (v) violate any laws regarding unfair competition,
anti-discrimination or false advertising; (vi) promote violence or contain hate
speech; or (vii) contain viruses, trojan horses, worms, time bombs, cancelbots
or other similar harmful or deleterious programming routines. You may not
include or display any personally identifying information, including, without
limitation, name, address, phone number, email address, Social Security number
or driver’s license number, or bank account or credit card numbers of any
Prosper member on your Prosper member web page, or elsewhere on the Prosper
website.

      

      16.  Notices. All
notices and other communications hereunder shall be given by email to your
registered email address or will be posted on the Prosper website, and shall be
deemed to

      
        
          
             

          

           

        

        
          7

          
            

          

        

        
           

        

      

      have been
duly given and effective upon transmission or posting. You can contact us by
sending an email to support@prosper.com or calling us toll-free at (866)
615-6319. You also agree to notify Prosper if your registered email address
changes, and you agree to update your registered residence address, mailing
address and telephone number on the Prosper website if your address or telephone
number changes.

      

      17.  No
Warranties.  EXCEPT FOR THE REPRESENTATIONS CONTAINED IN THIS
AGREEMENT, PROSPER DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES TO YOU OR ANY
OTHER PARTY WITH REGARD TO YOUR USE OF THE PROSPER WEBSITE AND THE PLATFORM,
INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE.

      

      18.  Limitation on
Liability.  IN NO EVENT SHALL ANY PARTY TO THIS AGREEMENT BE
LIABLE TO ANY OTHER PARTY FOR ANY LOST PROFITS OR SPECIAL, EXEMPLARY,
CONSEQUENTIAL OR PUNITIVE DAMAGES, EVEN IF INFORMED OF THE POSSIBILITY OF SUCH
DAMAGES. FURTHERMORE, NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY TO ANY
OTHER PARTY REGARDING THE EFFECT THAT THE AGREEMENT MAY HAVE UPON THE FOREIGN,
FEDERAL, STATE OR LOCAL TAX LIABILITY OF THE OTHER.

      

      19.  Miscellaneous.
You may not assign, transfer, sublicense or otherwise delegate your rights under
this Agreement to another person without Prosper’s prior written consent. Any
such assignment, transfer, sublicense or delegation in violation of this Section
shall be null and void. This Agreement shall be governed by federal law and, to
the extent that state law applies, the laws of the State of Utah. Any waiver of
a breach of any provision of this Agreement will not be a waiver of any other
subsequent 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. WebBank is not a party to this Agreement, but you
agree that WebBank is a third-party beneficiary and is entitled to rely on your
representations and authorizations, and other provisions of this Agreement.
There are no other third party beneficiaries to this Agreement.

      

      
        
          
             

          

           

        

        
          8

          
            

          

        

        
           

        

      

      EXHIBIT
A

       

      PROMISSORY
NOTE

       

      

      

      

      Borrower
Address: ______________________________________________.

       
 

      1.  Promise to
Pay.  In return for a loan I have received, I promise to pay
WebBank, a Utah-chartered Industrial Bank (“you”) the principal sum
of  ___________________ Dollars ($__________), together with interest
thereon commencing on the date of funding at the rate of ____ percent (____%)
per annum simple interest. I understand that references in this Note to you
shall also include any person to whom you transfer this Note.

      

      2.  Payments.  This
Note is payable in ___ monthly installments of $___________ each, consisting of
principal and interest, commencing on the ________ day of _____________, and
continuing until the final payment date of __________________, which is the
maturity date of this Note. The final payment shall consist of the then
remaining principal, unpaid accrued interest and other charges due under this
Note.  All payments will be applied first to any unpaid fees incurred
as a result of failed automated payments or returned checks or bank drafts as
provided in Paragraph 11, then to any late charges then due, then to interest
then due and then to principal. No unpaid interest or charges will be added to
principal.

      

      3.  Interest.  Interest
will be charged on unpaid principal until the full amount of principal has been
paid.  Interest under this Note will accrue daily, on the basis of a
365-day year. If payments are made on time, my final payment will be in the
amount of a regular monthly payment. If payments are paid after the scheduled
due date, a greater portion of the payment will be applied to accrued interest,
a lesser portion (if any) will be applied to principal reduction, and the loan
will not amortize as originally scheduled, resulting in a higher final payment
amount. The interest rate I will pay will be the rate I will pay both before and
after any default.

      

      4.  Late
Charge.  If the full amount of any monthly payment is not made
by the end of fifteen (15) calendar days after its due date, I will pay you a
late charge of______________. I will pay this late charge promptly but only once
on each late payment.

      

      5.  Waiver of
Defenses.  Except as otherwise provided in this Note, you are
not responsible or liable to me for the quality, safety, legality, or any other
aspect of any property or services purchased with the proceeds of the
loan.  If I have a dispute with any person from whom I have purchased
such property or services, I agree to settle the dispute directly with that
person.

      

      6.  Certification;
Exception to Waiver.  I certify that, to my knowledge, the
proceeds of this loan will not be applied in whole or part to purchase property
or services from any person to whom any interest in this loan may be assigned.
If, notwithstanding the preceding sentence, any person from whom I have
purchased such property acquires any interest in this loan, then Paragraph 5
will not apply to the extent of that person’s interest, even if that person
later assigns that person’s interest to another person.

      

      7.  Method of
Payment.  I will pay the principal, interest, and any late
charges or other fees on this loan when due. Those amounts are called “payments”
in this Note.  To ensure that my payments are processed in a timely
and efficient manner, you have given me the choice of making my monthly payments
(i) by automated withdrawal from an account that I designate using an automated
clearinghouse (ACH) or other electronic fund transfer, or (ii) by bank drafts
drawn by you on my behalf on my account each month; and I have chosen one of
these methods.

      
        
          
             

          

           

        

        
          9

          
            

          

        

        
           

        

      

      If I
close my account or if my account changes or is otherwise inaccessible such that
you are unable to withdraw my payments from that account or draw bank drafts on
the account, I will notify you at least three (3) days prior to any such
closure, change or inaccessibility of my account, and authorize you to withdraw
my payments from, or draw bank drafts on, another account that I
designate.

      

      With
regard to payments made by automatic withdrawals from my account, I have the
right to (i) stop payment of a preauthorized automatic withdrawal, or (ii)
revoke my prior authorization for automatic withdrawals with regard to all
further loan payments, by notifying the financial institution where my account
is held, orally or in writing at least three (3) business days before the
scheduled date of the transfer. I agree to notify you orally or in writing, at
least three (3) business days before the scheduled date of the transfer, of the
exercise of my right to stop a payment or to revoke my prior authorization for
further automatic withdrawals.

      

      8.  Default and
Remedies. If I fail to make any payment when due in the manner required
by Paragraph 7, I will be in default and you may at your option accelerate the
maturity of this Note and declare all principal, interest and other charges due
under this Note immediately due and payable. If you exercise the remedy of
acceleration you will give me at least 30 days prior notice of
acceleration.

      

      9.  Prepayments.  I
may prepay this loan in full or in part at any time without
penalty.

      

      10.  Waivers.  You
may accept late payments or partial payments, even though marked “paid in full,”
without losing any rights under this Note, and you may delay enforcing any of
your rights under this Note without losing them. You do not have to (a) demand
payment of amounts due (known as “presentment”), (b) give notice that amounts
due have not been paid (known as “notice of dishonor”), or (c) obtain an
official certification of nonpayment (known as “protest”). I hereby waive
presentment, notice of dishonor and protest. Even if, at a time when I am in
default, you do not require me to pay immediately in full as described above,
you will still have the right to do so if I am in default at a later time.
Neither your failure to exercise any of your rights, nor your delay in enforcing
or exercising any of your rights, will waive those
rights.  Furthermore, if you waive any right under this Note on one
occasion, that waiver will not operate as a waiver as to any other
occasion.

      

      11. Insufficient Funds Charge.
If I attempt to make a monthly payment, whether by check or bank draft or
by automated withdrawal from my designated account, and the payment is unable to
be made due to (i) insufficient funds in my account, (ii) the closure, change or
inaccessibility of my account without my having notified you as provided in
Paragraph 7, or (iii) for any other reason (other than an error by you), I will
pay you an additional fee of $______ for each check or bank draft returned or
failed automated withdrawal, unless prohibited by applicable law.

      

      12.  Attorneys’ Fees. To the extent permitted by
law, I am liable to you for your legal costs if you refer collection of your
loan to a lawyer who is not your salaried employee.  These costs may
include reasonable attorneys’ fees as well as costs and expenses of any legal
action.

      

      13.  Loan
Charges.  If a law, which applies to this loan and which sets
maximum loan charges, is finally interpreted so that the interest or other loan
charges collected or to be collected in connection with this loan exceed the
permitted limits, then: (a) any such loan charge shall be reduced by the
amount necessary to reduce the charge to the permitted limit; and (b) any
sums already collected from me which exceeded permitted limits will be refunded
to me. You may choose to make this refund by reducing the principal I owe under
this Note or by making a direct payment to me.

      
        
          
          

           

        

        
          10

          
            

          

        

        
           

        

      

      14.  Assignment.  I
may not assign any of my obligations under this Note without your written
permission.  You do not have to give me your permission.  You may
assign this Note at any time without my permission. Unless prohibited by
applicable law, you may do so without telling me.  My obligations under
this Note apply to all of my heirs and permitted assigns. Your rights under this
Note apply to each of your successors and assigns.

      

      15.  Notices.  All
notices and other communications hereunder shall be given in writing and shall
be deemed to have been duly given and effective (i) upon receipt, if delivered
in person or by facsimile, email or other electronic transmission, or (ii) one
day after deposit prepaid for overnight delivery with a national overnight
express delivery service.  Unless a different address is provided for
in a different Paragraph of this Note, notices to me must be properly addressed
to my registered email address or to my address set forth above unless I provide
you with a different address for notice by giving notice pursuant to this
Paragraph, and notices to you must be addressed to WebBank at
support@prosper.com or c/o Prosper Marketplace, Inc., 111 Sutter Street,
22nd Floor, San Francisco, CA 94104, Attention: Customer Service.

      

      16.  Governing
Law.    This Note is governed by federal law and, to
the extent that state law applies, the laws of the State of Utah.

      

      17.  Miscellaneous.   No
provision of this Note shall be modified or limited except by a written
agreement signed by both you and me. The unenforceability of any provision of
this Note shall not affect the enforceability or validity of any other provision
of this Note.

      

      18.  Arbitration.  RESOLUTION OF DISPUTES:I HAVE READ THIS PROVISION CAREFULLY,
AND UNDERSTAND THAT IT LIMITS MY RIGHTS IN THE EVENT OF A DISPUTE BETWEEN YOU
AND ME.  I UNDERSTAND THAT I HAVE THE RIGHT TO REJECT THIS PROVISION,
AS PROVIDED IN PARAGRAPH (i) BELOW.

      

      (a)   In
this Resolution of Disputes provision:

      

      (i)   “I,” “me” and “my”
mean the borrower under this Note, as well as any person claiming through the
borrower;

      

      (ii)   “You” and “your”
mean WebBank, any person servicing this Note for WebBank, and any subsequent
holders of this Note or any interest in this Note, and each of their respective
parents, subsidiaries, affiliates, predecessors, successors, and assigns, as
well as the officers, directors, and employees of each of them; and

      

      (iii)   “Claim” means
any dispute, claim, or controversy (whether based on contract, tort, intentional
tort, constitution, statute, ordinance, common law, or equity, whether
pre-existing, present, or future, and whether seeking monetary, injunctive,
declaratory, or any other relief) arising from or relating to this Note or the
relationship between you and me (including claims arising prior to or after the
date of the Note), and includes claims that are brought as counterclaims, cross
claims, third party claims, or otherwise and disputes about the validity or
enforceability of this Agreement or the validity or enforceability of this
Resolution of Disputes provision.

      

      (b)   Any
Claim between you and me shall be resolved, upon the election of either you or
me, by binding arbitration administered by the American Arbitration Association
or JAMS, under the applicable arbitration rules of the administrator in effect
at the time a Claim is filed (“Rules”).  If I file a claim, I may
chose the administrator; if you file a claim, you may chose the administrator
but you agree to change to the other permitted administrator at my request
(assuming that the other administrator is available).  I can obtain
the Rules and other information about initiating arbitration by contacting the
American Arbitration Association at 1633 Broadway, 10th Floor, New York,
NY

      
        
          
             

          

           

        

        
          11

          
            

          

        

        
           

        

      

      10019,
(800) 778-7879, www.adr.org; or by contacting JAMS at 1920 Main Street, Suite
300, Irvine, CA 92614, (949) 224-1810, www.jamsadr.com.  Your address
for serving any arbitration demand or claim is WebBank, c/o Prosper Marketplace,
Inc., 111 Sutter Street, 22nd
Floor, San Francisco, CA 94104, Attention: Legal Department.

       
 

      (c)   Claims
will be arbitrated by a single, neutral arbitrator, who shall be a retired judge
or a lawyer with at least ten years experience.  You agree not to
invoke your right to elect arbitration of an individual Claim filed by me in a
small claims or similar court (if any), so long as the Claim is pending on an
individual basis only in such court.

      

      (d)   You
will pay all filing and administration fees charged by the administrator and
arbitrator fees up to $1,000, and you will consider my request to pay any
additional arbitration costs.  If an arbitrator issues an award in
your favor, I will not be required to reimburse you for any fees you have
previously paid to the administrator or for which you are
responsible.  If I receive an award from the arbitrator, you will
reimburse me for the fees paid by me to the administrator.  Each party
shall bear its own attorney’s, expert’s and witness fees, which shall not be
considered costs of arbitration; however, if a statute gives me the right to
recover these fees, or fees paid to the administrator, then these statutory
rights will apply in arbitration.

      

      (e)   Any
in-person arbitration hearing will be held in the city with the federal district
court closest to my residence, or in such other location as the parties may
mutually agree.  The arbitrator shall apply applicable substantive law
consistent with the Federal Arbitration Act, 9 U.S.C. § 1-16, and, if
requested by either party, provide written reasoned findings of fact and
conclusions of law.  The arbitrator shall have the power to award any
relief authorized under applicable law.  Any appropriate court may
enter judgment upon the arbitrator’s award.  The arbitrator’s decision
will be final and binding except that: (1) any party may exercise any appeal
right under the FAA; and (2) any party may appeal any award relating to a claim
for more than $100,000 to a three-arbitrator panel appointed by the
administrator, which will reconsider de novo any aspect of the appealed
award.  The panel’s decision will be final and binding, except for any
appeal right under the FAA.  Unless applicable law provides otherwise,
the appealing party will pay the appeal’s cost, regardless of its
outcome.  However, you will consider any reasonable written request by
me for you to bear the cost.

      

      (f)   Neither
you nor I shall have the right to participate as a representative or member of
any class of claimants in arbitration, and you and I further agree that claims
of third parties shall not be joined in any arbitration between you and me,
without the express written consent of both you and me.  Only the
claims of or against persons relating to a single Note or listing (such as
holders of Notes relating to a single listing) may be joined in a single
arbitration.  The validity and effect of this paragraph (f) shall be
determined exclusively by a court, and not by the administrator or any
arbitrator.  The arbitrator shall have no power to arbitrate any
Claims on a class action basis or Claims brought in a purported representative
capacity on behalf of the general public, other borrowers, or other persons
similarly situated. 

      

      (g)   If
any portion of this Resolution of Disputes provision is deemed invalid or
unenforceable for any reason, it shall not invalidate the remaining portions of
this provision.  However, if paragraph (f) of this Resolution of
Disputes provision is deemed invalid or unenforceable in whole or in part, then
this entire Resolution of Disputes provision shall be deemed invalid and
unenforceable.  The terms of this Resolution of Disputes provision
will prevail if there is any conflict between the Rules and this
provision.

      

      (h)   THE PARTIES ACKNOWLEDGE AND AGREE
THAT, EXCEPT AS EXPRESSLY PROVIDED IN THIS RESOLUTION OF DISPUTES PROVISION,
THEY ARE WAIVING ALL RIGHTS TO A TRIAL BY COURT OR JURY AS A MEANS OF RESOLVING
ANY

      
        
          
             

          

           

        

        
          12

          
            

          

        

        
           

        

      

      DISPUTES
ARISING OUT OF OR RELATING TO THIS AGREEMENT.  THEY ACKNOWLEDGE THAT
ARBITRATION WILL LIMIT THEIR LEGAL RIGHTS, INCLUDING THE RIGHTS TO PARTICIPATE
IN A CLASS ACTION, THE RIGHT TO A JURY TRIAL, THE RIGHT TO CONDUCT FULL
DISCOVERY, AND THE RIGHT TO APPEAL (EXCEPT AS PERMITTED IN PARAGRAPH (e) OR
UNDER THE FEDERAL ARBITRATION ACT).

      

      (i)   I
understand that I may reject this Resolution of Disputes provision, in which
case neither you nor I will have the right to elect
arbitration.  Rejection of this provision will not affect the
remaining parts of this Agreement.  To reject this Resolution of
Disputes provision, I must send us written notice of my rejection within 30 days
after the date that this Note was made.  I must include my name,
address, and account number.  The notice of rejection must be mailed
to WebBank, c/o Prosper Marketplace, Inc., 111 Sutter Street, 22nd
Floor, San Francisco, CA 94104, Attention: Legal Department.  This is
the only way that I can reject this Resolution of Disputes
provision.

      

      
        	
                DC1
      1186660v.1

              

      

      (j)   The
parties acknowledge and agree that this arbitration agreement is made pursuant
to a transaction involving interstate commerce and shall be governed by the
Federal Arbitration Act.  This Resolution of Disputes provision shall
survive the termination of this Note and the repayment of any or all amounts
borrowed.

      

      Arizona Residents: Notice: I
understand that I may request that the initial disclosures prescribed in the
Truth in Lending Act (15 United States Code sections 1601 through 1666j) be
provided in Spanish before signing any loan documents.

      

      Aviso Para Prestatarios En
Arizona: Puedo solicitar que las divulgaciones iniciales prescritas en la
Ley Truth in Lending
Act (15 Código de los Estados Unidos secciones 1601 hasta 1666j) sean
proporcionadas en español antes de firmar cualesquiera documentos de
préstamos.

      

      Missouri Residents: Oral
agreements or commitments to loan money, extend credit or to forbear from
enforcing repayment of a debt including promises to extend or renew such debt
are not enforceable. To protect me (borrower) and you (creditor) from
misunderstanding or disappointment, any agreements we reach covering such
matters are contained in this writing, which is the complete and exclusive
statement of the agreement between us, except as we may later agree in writing
to modify it.

      

      

      By
signing this Note, I acknowledge that I (i) have read and understand all
terms and conditions of this Note, (ii) agree to the terms set forth herein, and
(iii) acknowledge receipt of a completely filled-in copy of this
Note.

      

      

      Date:
_______________                                                      ________________________

      [Borrower]

      

      Last
Updated: September 7, 2009

      

      

      
        
          
             

          

           

        

        
          13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]