Document:

Amendment to Investment Agreement

 Exhibit 10.1 
 AMENDMENT TO INVESTMENT AGREEMENT 
 This AMENDMENT TO INVESTMENT AGREEMENT, dated as of
November 13, 2008 (this “Amendment”), is between Assured Guaranty Ltd., a Bermuda company (the “Company”), and WLR Recovery Fund IV, L.P., a Delaware limited partnership (the “Investor”). 
 WHEREAS, the Company previously entered into an Investment Agreement with the Investor dated as of February 28, 2008 (the “Investment
Agreement”) and sold common shares, par value $0.01 per share (the “Common Shares”), to the Investor and certain of its Affiliates pursuant to the Investment Agreement; 
 WHEREAS, the Company is concurrently with the execution of this Amendment entering into a Purchase Agreement (the “FSA Purchase Agreement”)
with Dexia Holdings, Inc. (“Dexia”) of even date herewith under which the Company would acquire all of Dexia’s ownership interest in Financial Security Assurance Holdings Ltd, a New York corporation; 
 WHEREAS, the Company desires to fund a portion of the purchase price payable under the FSA Purchase Agreement with the proceeds of an issuance of
Subsequent Shares (as defined in the Investment Agreement) under the Investment Agreement; and 
 WHEREAS, Investor has agreed to purchase
such Subsequent Shares on the terms and subject to the conditions set forth in the Investment Agreement, as modified by this Amendment. 
 NOW, THEREFORE, in consideration of the premises, and of the representations, warranties, covenants and agreements set forth herein, the parties agree as follows: 
 1. FSA Drawdown Notice. (a) Subject to the terms and conditions set forth in the Investment Agreement as amended hereby, the Investor hereby grants the Company the option to cause the Investor to purchase
from the Company or Assured Guaranty US Holdings Inc. a number of Subsequent Shares (the “FSA Subsequent Shares”) equal to the quotient of (i) the aggregate dollar amount specified in an FSA Drawdown Notice (as hereinafter defined)
deliver prior to the Termination Date (as hereinafter defined) divided by (ii) the Drawdown Price (as hereinafter defined). For purposes of the purchase of the FSA Subsequent Shares, (i) the “Drawdown Price” will be the volume
weighted average price of a Common Share on the NYSE for the 20 NYSE trading days ending with the last NYSE trading day immediately preceding the date of the FSA Subsequent Closing (as hereinafter defined) (“20 Day VWAP”) (such 20-day
period to be referred to for purposes of the purchase of the FSA Subsequent Shares as the “Pricing Period”), provided that (i) if the 20 Day VWAP is less than $6.00 (the “Floor”), the Drawdown Price will be $6.00, and if the
20 Day VWAP is greater than $8.50 (the “Cap”), the Drawdown Price will be $8.50, and (ii) notwithstanding any other provision hereof, the aggregate dollar amount that may be specified in an FSA Drawdown Notice may not exceed $361.0
million. 
 (b) Section 2.5(a) of the Investment Agreement is hereby amended to add the following additional condition to
the obligation of the parties in respect of any purchase and sale of FSA Subsequent Shares: 
 “(v) all conditions set
forth in Sections 7.1, 7.2 and 7.3 of the FSA Purchase Agreement shall have been satisfied and all actions necessary or anticipated to be taken at the Closing (as defined in the FSA Purchase Agreement) shall have been taken or occurred, other than
the payment of the Purchase Price (as defined in the FSA Purchase Agreement), upon the occurrence of which the Closing (as so defined), will be deemed to have occurred. (For the avoidance of doubt, Investor will have no obligation hereunder or
otherwise to purchase any FSA Subsequent Shares unless and until the Closing (as defined in the FSA Purchase Agreement) shall have occurred.).” 

 (c) The closing condition set forth in Section 2.5(b)(iv) and (vi) of the
Investment Agreement will be deemed satisfied with respect to the closing of the purchase of FSA Subsequent Shares (the “FSA Subsequent Closing”). 
 (d) Section 2.5(b) of the Investment Agreement is hereby amended to add the following condition to the obligations of the Investor in
respect of any purchase and sale of FSA Subsequent Shares: 
 “(vii) the Investor shall have received a certificate by
the Company’s Chief Executive Officer and Chief Financial Officer that (A) during the Pricing Period and for the two NYSE trading days prior thereto there was no material non-public information regarding the Company and (B) during the
Pricing Period the Company had not repurchased any Common Shares (except pursuant to employee benefit plans of the Company).” 
 (e) For the avoidance of doubt, except to the extent otherwise provided herein, the closing conditions set forth in Section 2.5 of the Investment Agreement are conditions to the consummation of the FSA Subsequent Closing. 

2. Covenants. 
 (a)
Shareholder Approval. In connection with the Company’s solicitation of the approval by its shareholders of the transactions contemplated by the FSA Purchase Agreement, the Company will include a proposal (the “Proposal”) to
obtain the approvals necessary under the rules of the NYSE to permit the issuance of the FSA Subsequent Shares and any Reset Shares or Pre-Emptive Shares related thereto or issuable hereunder (the “FSA Shareholder Approval”). The Company
represents and warrants to the Investor that the Board of Directors has, at a duly convened meeting, unanimously determined (with one director abstaining) that the transactions contemplated hereby are fair to and in the best interests of the
shareholders of the Company (other than the Investor), approved this Amendment and determined to recommend to the Company’s shareholders that such shareholders approve the actions referenced above (such actions, collectively, the “Board
Recommendation”). The Company will include the Proposal in the proxy statement related to the shareholders’ meeting at which the approval of the transactions contemplated by the FSA Purchase Agreement will be considered (and the Investor
will reasonably cooperate with the Company in connection therewith) and will use reasonable best efforts to solicit proxies for such shareholder approval. The 

  

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Company will provide the Investor with drafts of the proxy statement and any amendments or supplements thereto prior to their filing with the Commission and
a reasonable opportunity to comment thereon. The Company will notify the Investor promptly of the receipt of any comments from the Commission or its staff and of any request by the Commission or its staff for amendments or supplements to such proxy
statement or for additional information, in each case to the extent related to the Investment Agreement or this Amendment or the transactions contemplated thereby, and will supply the Investor with copies of all correspondence between the Company or
any of its representatives, on the one hand, and the Commission or its staff, on the other hand, with respect to such proxy statement, to the extent related to the Investment Agreement or this Amendment or the transactions contemplated thereby. If
at any time prior to such shareholders’ meeting there shall occur any event that is required to be set forth in an amendment or supplement to the proxy statement, the Company will as promptly as practicable prepare and mail to its shareholders
such an amendment or supplement. The Company agrees promptly to correct any information in the proxy statement if and to the extent that such information shall have become false or misleading in any material respect, and the Company will as promptly
as practicable prepare and mail to its shareholders an amendment or supplement to correct such information to the extent required by applicable laws and regulations. The Company will provide the Investor with drafts of the proxy statement and any
amendments or supplements thereto prior to mailing and will provide Investor a reasonable opportunity to comment thereon. The Board Recommendation will be included in the proxy statement filed in connection with obtaining such shareholder approval.

 (b) Use of Proceeds. The Company will use all of the proceeds of the sale of the FSA Subsequent Shares solely to pay
a portion of the purchase price payable under the FSA Purchase Agreement equal to such proceeds. 
 (c) Commitment Fee; WLR
Expenses. Within one business day of the date of this Agreement, the Company will pay the Investor a nonrefundable commitment fee (the “Commitment Fee”) of $10,830,000 by wire transfer of immediately available funds to an account
designated by the Investor for such purpose. The Company agrees promptly to pay or reimburse the Investor upon request all fees and expenses, as incurred, including reasonable and documented attorneys’ fees and expenses, incurred by WLR and the
WLR Funds in connection with the negotiation, execution and performance of this Amendment and the transactions contemplated hereby, including any filing fees and other costs relating to regulatory approvals required in connection herewith.

 (d) Participation Rights. (i) If the Company offers to sell Additional Shares other than pursuant to the
Investment Agreement, as modified hereby, to raise some or all of the funds required to pay the purchase price payable under the FSA Purchase Agreement (a “Pre-Emptive Sale”), the Company will deliver to the Investor a written offer (the
“Offer”) to issue and sell to the Investor up to a number of Additional Shares (the “Pre-Emptive Shares”) equal to the Participation Amount (as hereinafter defined). The Offer will be delivered no later than 30 days prior to the
anticipated consummation of the Pre-Emptive Sale(s) and state that the Company offers to issue and sell to the Investor the Pre-Emptive Shares and will specify their number and terms (including 

  

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purchase price, to the extent known, which must be equal to the weighted average price in the Pre-Emptive Sale(s) (the “Pre-Emptive Price”)). The
Offer will remain open and irrevocable for a period of 30 days (the “Pre-Emptive Period”) from the date of its delivery. For purposes of this Section 2(d): (A) the “Participation Amount” will equal the greater of
(1) 25% of the Additional Shares offered pursuant to the Pre-Emptive Sale(s) and (2) the number of Additional Shares derived by dividing $150,000,000 by the Pre-Emptive Price, provided that if the applicable Pre-Emptive Sale is a public
offering and the managing underwriter determines that such level of participation would be detrimental to such public offering, such participation will be reduced to the level recommended by such managing underwriter but in no event to below 25% of
the Additional Shares offered in such public offering; and (B) “relative Common Share ownership position” will be calculated as to all WLR Funds holding Securities in the aggregate and WLR will be entitled to allocate by written
notice to the Company the aggregate preemptive rights of the Investor among the WLR Funds. 
 (ii) The Investor may accept the
Offer by delivering to the Company a notice (the “Purchase Notice”) within the Pre-Emptive Period. The Purchase Notice must state the number (the “Pre-Emptive Number”) of Pre-Emptive Shares the Investor desires to purchase.
Delivery of the Purchase Notice shall obligate the Investor to purchase the Pre-Emptive Shares. In the event of a public offering of Additional Shares, the Company may satisfy its obligations under this paragraph (e) by arranging for the
Investor to be allocated a number of shares in the public offering equal to the number of Pre-Emptive Shares. 
 (iii) The
issuance of any Pre-Emptive Shares will be consummated contemporaneously with the consummation of the Pre-Emptive Sale(s). 
 (iv) In the case of a sale of securities for a consideration in whole or in part other than cash, including securities acquired in exchange therefor (other than securities by their terms so exchangeable), the consideration other than cash
will be deemed to be the fair value thereof as determined by the Board of Directors in good faith; provided, however, that such fair value as determined by the Board of Directors will not exceed the aggregate market price of the securities being
offered as of the date the Board of Directors authorizes the offering of such securities; 
 (v) Except as specifically
provided herein, the rights set forth in this Section 2(d) may not be assigned or transferred by the Investor. 
 (vi)
Notwithstanding anything herein or in the Investment Agreement to the contrary, Sections 5.5 of the Investment Agreement shall not apply to a Pre-Emptive Sale. 
 (e) The Company hereby agrees to indemnify and hold harmless, to the fullest extent permitted by law, the Investor and its Affiliates and
each of their respective directors, officers, managers, employees and agents from and against any and all losses, damages, liabilities, actions, suits, proceedings, judgments, orders, decrees, rulings, costs and expenses (collectively,
“Losses”) arising out of or related to the FSA Purchase 

  

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Agreement or the transactions contemplated thereby, except to the extent such Losses are caused by the Investor’s breach of the Investment Agreement, as
amended hereby, or the Voting Agreement of even date herewith between the Company, the Investors and certain of the Investors’ Affiliates. 
 (f) Notwithstanding anything herein or in the Investment Agreement to the contrary, Sections 5.4 and 5.5 of the Investment Agreement shall not apply to the issuance of common shares pursuant to the FSA Purchase
Agreement. 
 3. Representations and Warranties of the Company. The Company represents and warrants to the Investor as follows:

 (a) The Company has been duly incorporated and is validly existing as an exempted company in good standing under the laws
of the Islands of Bermuda, with corporate power and authority to own its properties and conduct its business as currently conducted and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts
any business so as to require such qualification, or is subject to no material liability or disability by reason of the failure to be so qualified in any such jurisdiction. 
 (b) The Company has the corporate power and authority to enter into this Amendment and to carry out its obligations hereunder. The
execution, delivery and performance of this Amendment by the Company and the consummation of the transactions contemplated hereby and thereby have been duly authorized by the Board of Directors. Subject to receipt of the approvals contemplated
hereby and by the Investment Agreement, this Amendment is a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, moratorium,
reorganizations or similar laws affecting creditors generally or by general equitable principles (whether applied in equity or at law). Except with respect to the shareholder approval referred to in Section 2(a), no shareholder vote of the
Company is required to consummate the transactions contemplated hereby. 
 (c) Neither the execution, delivery and performance
by the Company of this Amendment, nor the consummation of the transactions contemplated hereby, nor compliance by the Company with any of the provisions hereof, will (i) violate, conflict with, or result in a breach of any provision of, or
constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) under, or result in the termination of, or accelerate the performance required by, or result in a right of termination or acceleration of, or
result in the creation of, any lien, security interest, charge or encumbrance upon any of the properties or assets of the Company or any subsidiary under any of the material terms, conditions or provisions of (A) its certificate of
incorporation, memorandum of association or bye-laws or similar organizational documents or (B) any note, bond, mortgage, indenture, deed of trust, license, lease, agreement or other instrument or obligation to which the Company or any
subsidiary is a party or by which it may be bound, or to which the Company or any subsidiary or any of the properties or assets of the Company or any subsidiary may be subject, or (ii) subject 

  

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to compliance with the statutes and regulations referred to in paragraph (d) below, violate any statute, rule or regulation or any judgment, ruling,
order, writ, injunction or decree applicable to the Company or any subsidiary or any of their respective properties or assets except in the case of clauses (i)(B) and (ii) for such violations, conflicts and breaches as would not reasonably be
expected to have a Material Adverse Effect on the Company. 
 (d) Other than the approvals contemplated hereby and by the
Investment Agreement, and the securities or blue sky laws of the various states, no material notice to, filing with, exemption or review by, or authorization, consent or approval of, any Governmental Entity, nor expiration nor termination of any
statutory waiting periods, is necessary for the consummation by the Company of the transactions contemplated by this Amendment. 
 4.
Representations and Warranties of the Investor. The Investor represents and warrants to the Company as follows: 
 (a)
The Investor is a limited partnership duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, is duly qualified to do business and is in good standing in all jurisdictions where its ownership or
leasing of property or the conduct of its business requires it to be so qualified and failure to be so qualified would have a Material Adverse Effect on the Investor and has power and authority to own its properties and assets and to carry on its
business as it is now being conducted. 
 (b) The Investor has the partnership power and authority to enter into this
Amendment and to carry out its obligations hereunder. The execution, delivery and performance of this Amendment by the Investor and the consummation of the transactions contemplated hereby have been duly authorized by all necessary action on the
part of the Investor and no further approval or authorization by any of the managers, members or partners of the Investor is required. Subject to such approvals of Governmental Entities as may be required by statute or regulation, this Amendment is
a valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, moratorium, reorganizations or similar laws affecting creditors
generally or by general equitable principles (whether applied in equity or at law). 
 (c) Neither the execution, delivery and
performance by the Investor of this Amendment, nor the consummation of the transactions contemplated hereby, nor compliance by it with any of the provisions thereof, will (i) violate, conflict with, or result in a breach of any provision of, or
constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) under, or result in the termination of, or accelerate the performance required by, or result in a right of termination or acceleration of, or
result in the creation of, any lien, security interest, charge or encumbrance upon any of the properties or assets of the Investor under any of the material terms, conditions or provisions of (A) its organizational document or (B) any
note, bond, mortgage, indenture, deed of trust, license, lease, agreement or other 

  

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instrument or obligation to which the Investor is a party or by which it may be bound, or to which any of the Investor or any of their properties or assets
may be subject, or (ii) subject to compliance with the statutes and regulations referred to in the next paragraph, violate any statute, rule or regulation or, to the knowledge of the Investor, any judgment, ruling, order, writ, injunction or
decree applicable to the Investor or any of their respective properties or assets except in the case of clauses (i)(B) and (ii) for such violations, conflicts and breaches as would not reasonably be expected to have a Material Adverse Effect on
the Investor. 
 (d) Other than the approvals contemplated hereby and by the Investment Agreement, and the securities or blue
sky laws of the various states, no material notice to, filing with, exemption or review by, or authorization, consent or approval of, any Governmental Entity, nor expiration nor termination of any statutory waiting period is necessary for the
consummation by the Investor of the transactions contemplated by this Amendment. 
 (e) The Investor acknowledges that the FSA
Subsequent Shares have not been registered under the Securities Act or under any state securities laws. The Investor (i) is acquiring the FSA Subsequent Shares pursuant to an exemption from registration under the Securities Act solely for
investment with no present intention to distribute any of the FSA Subsequent Shares to any person, (ii) will not sell or otherwise dispose of any of the FSA Subsequent Shares, except in compliance with the registration requirements or exemption
provisions of the Securities Act and any other applicable securities laws, (iii) has such knowledge and experience in financial and business matters and in investments of this type that it is capable of evaluating the merits and risks of its
investment in the FSA Subsequent Shares and of making an informed investment decision and (iv) is an “accredited investor” (as that term is defined by Rule 501 of the Securities Act). 
 (f) The Investor will have available funds necessary to consummate the FSA Subsequent Closing on the terms and conditions contemplated by
this Amendment. 
 (g) Neither the Investor nor its affiliates or any of their respective officers, directors or employees has
employed any broker or finder or incurred any liability for any financial advisory fees, brokerage fees, commissions or finder’s fees, and no broker or finder has acted directly or indirectly for WLR or the WLR Funds, in connection with this
Amendment or the transactions contemplated hereby. 
 5. Relationship to Investment Agreement. This Amendment is intended to amend the
Investment Agreement solely with respect to the purchase and ownership of the FSA Subsequent Shares. Except as otherwise specifically provided herein, all of the terms and conditions set forth in the Investment Agreement applicable to Subsequent
Shares will apply to the FSA Subsequent Shares, and the purchase and sale of the FSA Subsequent Shares will reduce the Investor’s remaining commitment thereunder. The terms and conditions set forth in this Amendment will not apply to any
purchase of Subsequent Shares other than the FSA Subsequent Shares. 
  

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 6. Termination. 
 (a) This Amendment may be terminated: (i) by either the Company or the Investor if the FSA Subsequent Closing shall not have occurred
prior to the End Date (as defined in the FSA Purchase Agreement); (ii) by the mutual agreement of the Company and the Investor; (iii) by either the Company or the Investor if any Governmental Entity shall have issued a nonappealable final
judgment, injunction, order or decree that prohibits the FSA Subsequent Closing or prohibits or restricts the Investor or its Affiliates from owning or voting any FSA Subsequent Shares; (iv) by the Investor if the Company amends the FSA
Purchase Agreement in any material respect without the prior written consent of the Investor; (v) by the Investor if the Board Recommendation is withdrawn or modified in a manner determined by the Investor in good faith to be adverse to it; or
(vi) by Investor if the Company or one of its subsidiaries becomes subject to an insolvency, liquidation, rehabilitation, reorganization, receivership, supervision, conservatorship or comparable proceeding or governmental or regulatory action.
This Amendment will terminate automatically if the Investment Agreement is terminated or if notice of termination of the FSA Purchase Agreement is given without the closing thereunder having occurred, regardless of whether the FSA Purchase Agreement
was terminated thereby in accordance with its terms. 
 (b) In the event of any termination of this Amendment as provided in
Section 5(a), this Amendment (other than Section 2(c), this Section 6(b), Section 7 and Section 8, each of which will remain in full force and effect) will forthwith become wholly void and of no further force and effect;
provided that nothing herein will relieve any party from liability for willful breach of this Amendment. 
 7. Definitions. As used
herein: 
 (a) “FSA Drawdown Notice” means a Drawdown Notice that (i) is designated as the “FSA
Drawdown Notice” and (ii) does not request an investment in Common Shares in excess of $361,000,000. For purposes of the delivery of an FSA Drawdown Notice only, the proviso in the first sentence of Section 2.2 and the second sentence
of Section 2.2 of the Investment Agreement will not apply. 
 (b) “Termination Date” means the date on
which this Amendment is terminated pursuant to Section 6(a). 
 (c) Capitalized terms not otherwise defined herein will
have the meanings ascribed thereto in the Investment Agreement. 
 8. Miscellaneous. 
 (a) September 16 Approval. The parties acknowledge and agree that the approval, dated September 16, 2008, with respect to
the Investor’s right to purchase up to 5,000,000 additional Common Shares in open market transactions from time to time remains in full force and effect. 
  

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 (b) Counterparts and Facsimile. For the convenience of the parties hereto, this
Amendment may be executed in any number of separate counterparts, each such counterpart being deemed to be an original instrument, and all such counterparts will together constitute the same agreement. Executed signature pages to this Amendment may
be delivered by facsimile and such facsimiles will be deemed as sufficient as if actual signature pages had been delivered. 
 (c) Governing Law. This Amendment will be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed entirely within such State. The parties hereby irrevocably and
unconditionally consent to submit to the exclusive jurisdiction of the state and federal courts located in the State of New York for any actions, suits or proceedings arising out of or relating to this Amendment and the transactions contemplated
hereby. 
 (d) Entire Agreement, Etc. This Amendment and the Investment Agreement constitute the entire agreement, and
supersede all other prior agreements, understandings, representations and warranties, both written and oral, between the parties, with respect to the subject matter hereof. 
 (e) Public Announcements. Subject to each party’s disclosure obligations imposed by law or regulation, each of the parties
hereto will cooperate with each other in the development and distribution of all news releases and other public information disclosures with respect to this Amendment and any of the transactions contemplated by this Amendment, and no party hereto
will make any such news release or public disclosure without first consulting with the other party hereto and receiving its consent (which will not be unreasonably withheld or delayed) and each party will coordinate with the other with respect to
any such news release or public disclosure. 
 (f) No Third Party Beneficiaries. Nothing contained in this Agreement,
expressed or implied, is intended to confer upon any person or entity other than the parties hereto any benefit, right or remedy. 
 (g) Changes in Capitalization. If between the date of this Amendment and the FSA Subsequent Closing the outstanding Common Shares are changed into a different number of shares or a different class, by reason of any stock dividend,
subdivision, reclassification, recapitalization, split, combination or exchange of shares, or any similar event, the Floor and the Cap will be appropriately adjusted to provide to the parties hereto the same economic effect as contemplated by this
Amendment prior to such event. 
  

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 IN WITNESS WHEREOF, this Amendment has been duly executed and delivered by the duly authorized officers
of the parties hereto as of the date first herein above written. 
  

			
	ASSURED GUARANTY LTD.
		
	By:	 	 /s/ James M. Michener

	Name:	 	James M. Michener
	Title:	 	General Counsel and Secretary
	
	WLR RECOVERY FUND IV, L.P.
		
	By:	 	 WLR Recovery Associates IV LLC,
its General Partner

		 
		
	By:	 	WL Ross Group, L.P., its managing member
		
	By:	 	El Vedado, LLC, its General Partner
		
	By:	 	 /s/ Wilbur L. Ross, Jr.

	Name:	 	Wilbur L. Ross, Jr.
	Title:	 	Managing MemberSettlement Agreement and Release dated August 22, 2008

 Exhibit 10.1 
 SETTLEMENT AGREEMENT AND RELEASE 
 This
SETTLEMENT AGREEMENT AND RELEASE (“Agreement”) is made as of this 22nd day of August, 2008 (the “Effective
Date”), by and between Koosharem Corp., a California corporation d/b/a Select Staffing, located at 3820 State Street, Santa Barbara, CA 93105 (“Koosharem”), Real Time Staffing Services, Inc., a California
corporation d/b/a Select Staffing, located at 3820 State Street, Santa Barbara, CA 93105 (“Real Time” and together with Koosharem, “Select”) and ClearPoint Resources, Inc., a Delaware corporation,
located at 1600 Manor Drive, Suite 110, Chalfont, PA 18914 (“CPR”). Select and CPR shall each be a “Party” and shall collectively be the “Parties”. 
 B A C K G R O U N D 
 WHEREAS, Quantum
Resource Corporation, a subsidiary of CPR (“Quantum”) and Remedy Temporary Services, Inc., a subsidiary of Koosharem (“Remedy”) entered into a certain Supplier Agreement, dated March 29, 2006 (the
“Supplier Agreement”); 
 WHEREAS, on April 8, 2008, Koosharem and CPR entered into (i) a certain License
Agreement (the “License Agreement”), and (ii) a certain Temporary Help Services Subcontract (the “Subcontract Agreement”); 
 WHEREAS, on (i) April 16, 2008, Select, in an email from Stephen Biersmith, made certain allegations with respect to the Subcontract Agreement,
(ii) June 3, 2008, Select, in a letter from Stephen Biersmith to Michael Traina, made certain allegations regarding the iLabor Network and the License Agreement and the Subcontract Agreement, (iii) July 29, 2008, Select filed a
lawsuit in the Superior Court of California (County of Santa Barbara; Case #1301875) claiming that, among other things, CPR owed Select $902,967.58 (the “Initial Complaint”), and (iv) August 1, 2008, Select amended
the Initial Complaint to, among other things, increase the amount alleged to be owed to $1,033,210.22 (the “Amended Complaint”) (collectively, (i), (ii), (iii) & (iv) are referred to as the “Select
Claims”); 
 WHEREAS, CPR claimed that Select failed to (i) pay $300,000 due under the License Agreement, (ii) pay an
additional $300,000 due under the Subcontract Agreement, (iii) refund approximately $70,000 in payroll paid by CPR on behalf of Select, and (iv) provide certain certifications required under the Subcontract Agreement (collectively (i),
(ii), (iii) & (iv) are referred to as the “CPR Claims”); 
 WHEREAS, each party denies that it owes any
obligation, or is liable in any manner whatsoever, to the other parties; and 
 WHEREAS, in order to avoid the expense, inconvenience, delay
and uncertainty of litigation relating to the Select Claims and CPR Claims, CPR and Select desire to settle the Select Claims and CPR Claims and all other claims by entering into this Agreement and by performing the undertakings, and making payment,
as set forth in this Agreement. 
  

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 NOW, THEREFORE, in consideration of the above premises and the covenants, promises and agreements
contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, CPR and Select, intending to be legally bound hereby, agree as follows: 
 1. Release by Select. For good and valuable consideration, receipt of which is hereby acknowledged by Select, and intending to be legally bound,
Select and its subsidiaries, parents and affiliates and its and their respective directors, officers, shareholders, employees, partners, agents, representatives, successors and assigns (the “Select Releasing Parties”), hereby
release, remise and forever discharge CPR and its subsidiaries, parents and affiliates and its and their respective directors, officers, shareholders, employees, partners, agents, representatives, successors and assigns (the “CPR Released
Parties”), from any and all claims, damages, losses, injuries, suits, debts, liabilities, sums of money, accounts, covenants, controversies, demands, actions, rights and causes of action of whatever kind or nature, at law or in equity,
known or unknown, asserted or unasserted, suspected or unsuspected, foreseen or unforeseen, anticipated or unanticipated, accrued or unaccrued, made, brought, or which could have been made or brought, that the Select Releasing Parties may have had
or may presently have, against the CPR Released Parties including but not limited to, all Select Claims and any and all claims arising out of or relating to the Supplier Agreement, the License Agreement and/or the Subcontract Agreement. 

2. Release by CPR. For good and valuable consideration, receipt of which is hereby acknowledged by CPR, and intending to be legally bound, CPR
and its subsidiaries, parents and affiliates and its and their respective directors, officers, shareholders, employees, partners, agents, representatives, successors and assigns (the “CPR Releasing Parties” and together with
the Select Releasing Parties, the “Releasing Parties”), hereby release, remise and forever discharge Select and its subsidiaries, parents and affiliates and its and their respective directors, officers, shareholders,
employees, partners, agents, representatives, successors and assigns (the “Select Released Parties” and together with the CPR Released Parties, the “Released Parties”), from any and all claims,
damages, losses, injuries, suits, debts, liabilities, sums of money, accounts, covenants, controversies, demands, actions, rights and causes of action of whatever kind or nature, at law or in equity, known or unknown, asserted or unasserted,
suspected or unsuspected, foreseen or unforeseen, anticipated or unanticipated, accrued or unaccrued, made, brought, or which could have been made or brought, that the CPR Releasing Parties may have had or may presently have, against the Select
Released Parties including but not limited to, all CPR Claims and any and all claims arising out of or relating to the Supplier Agreement, the License Agreement and/or the Subcontract Agreement. 
 3. Waiver of California Civil Code § l542. The Select Releasing Parties having been informed and having read the provisions of California
Civil Code (“Civil Code”) § 1542, knowingly and intentionally waives any protections afforded to themselves by Civil Code § 1542 (or any similar statute), which provides as follows: 
  

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 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS
OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 This
Agreement is intended to cover all claims or possible claims arising out of or related to those matters referred to in the foregoing release, whether such claims or possible claims are known, unknown or hereafter discovered or ascertained, and the
provisions of § 1542 of the Civil Code (or any similar statute) are hereby expressly waived. 
 4. Additional Agreements. The
Parties further agree as follows: 
 a. CPR shall retain the $900,000 paid to it under the License Agreement; 
 b. CPR shall retain all Select (and its subsidiaries’ and affiliates’) monies received as of the Effective Date from all accounts, except for
Philip Morris. With respect to Philip Morris, CPR shall retain all monies due to Select and/or Remedy (and any of their subsidiaries or affiliates) from Philip Morris up through and including the week ending August 3, 2008; all other monies due
to Select and/or Remedy (and any of their subsidiaries or affiliates) from Philip Morris for which CPR has received payments from Philip Morris shall be paid to Select within five (5) days of the full execution of this Agreement and all
exhibits; 
 c. The Parties shall, simultaneous with the execution of this Agreement, execute the First Amendment to Temporary Help Services
Subcontract, a copy of which is attached hereto as Exhibit A (the “First Amendment”); 
 d. Within
three (3) business days of the Effective Date, Select shall file the appropriate paperwork in the Superior Court of California to dismiss the Initial Complaint and Amended Complaint with prejudice; and 
 e. The License Agreement is hereby terminated in its entirety and shall no longer have any effect. 
 5. Covenant Not to File. The Releasing Parties hereby covenant and agree never to commence an action, or to prosecute any legal action or any
other proceedings against the Released Parties, arising from or based in whole or in part upon the claims, damages, losses, injuries, suits, debts, liabilities, sums of money, accounts, covenants, controversies, demands, actions, rights and causes
of action of whatever kind or nature, at law or in equity, released in this Agreement, except as such may relate to the parties’ obligations hereunder. 
 6. Representations and Warranties. Each Party represents and warrants to the other Parties that it has not assigned or transferred, in whole or in part, any claim, right, demand or cause of action which it may
now have or may have had or claim to have, of whatever kind or nature, against the other Parties, to any other person, corporation or other entity in any manner, including but not limited to assignment or transfer by subrogation or by operation of
law. 
  

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 7. Settlement of Disputed Claims. This Agreement is entered into as a compromise of disputed
claims. Nothing herein shall be construed as an admission of any liability whatsoever, or of any allegation made, or which could have been made, and any and all liability is hereby expressly denied. 
 8. Entire Agreement; Amendment. This Agreement together with the First Amendment embody the entire understanding of the Parties relating to the
subject matter hereof, and supersede all prior and/or contemporaneous understandings and agreements among the parties, written or oral. No modification or amendment of this Agreement shall be valid or binding unless such modification or amendment is
in writing and is signed by each of the Parties. 
 9. Successors and Assigns. All of the terms, provisions and conditions of this
Agreement shall be binding upon and inure to the benefit of the Parties and all who or which succeed to such Parties’ respective interests. 
 10. Injunctive Relief. Each Party hereby acknowledges that damages at law may be an inadequate remedy for a breach of any of the obligations and restrictions set forth in this Agreement. Accordingly, each Party shall be entitled to
seek injunctive relief with respect to any such breach or threatened breach without the posting of any bond or other security. The rights set forth in this Section 10 shall be in addition to any other rights or remedies which any Party may have
available to it hereunder, at law or in equity. 
 11. Opportunity to Consult. Each of the Parties hereto represents and warrants that
is has exercised its judgment in deciding to execute this Agreement and that its decision to do so is not predicated or influenced by any written or oral declarations or representations of any other person, corporation or other entity except as
expressly stated herein. Each Party represents and warrants that it has executed and entered into this Agreement with and upon the advice of counsel (or that it has had a full opportunity to consult with counsel) and has executed and entered into
this Agreement voluntarily with full knowledge of its significance and legal effect. 
 12. Notice. All notices, requests, demands,
payments and other communications which are required or may be given under this Agreement shall be in writing and shall be deemed to have been duly given on receipt if delivered personally, two days after being sent by a nationally recognized
overnight carrier, or three days after being mailed by certified mail, postage prepaid, return receipt requested. Refusal to accept any notice given under this Section 12, shall be deemed receipt. Notices shall be sent to the following
addresses or to such other address as a Party may specify in a notice pursuant to this Section 12: 
 If to SELECT: 
 Select Staffing 
 3820 State Street 
 Santa Barbara, CA 93105 
 Attn: Steve Sorensen 
 With a Copy to: 
  

 4 

 Select Staffing 
 3820 State Street 
 Santa Barbara, CA 93105 
 Attn: General Counsel 
 If to COMPANY: 
 ClearPoint Resources, Inc. 
 1600 Manor Drive, Suite 110 
 Chalfont,PA 18914 
 Attn: Michael Traina, CEO 
 With a Copy to: 
 ClearPoint Resources, Inc. 
 1600 Manor Drive, Suite 110 
 Chalfont, PA 18914 
 Attn: General Counsel 
 13.
Governing Law. The laws of the Commonwealth of Pennsylvania shall govern this Agreement, without giving effect to any provisions concerning conflicts of law or choice of law or which Party drafted this Agreement. Any legal action or
proceeding arising out of or in connection with this Agreement shall be brought in either the courts of Pennsylvania or California, and the Parties accept the co-exclusive jurisdiction of such courts. 
 14. Counterparts. This Agreement may be executed in counterpart copies, each of which shall be deemed to be an original document, and all of which
shall together be deemed to constitute a single document. 
 [SIGNATURES ON FOLLOWING PAGE] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Settlement Agreement and Release as of the date
first above written. 
  

			
	CPR:
	
	CLEARPOINT RESOURCES, INC.
		
	By:	 	 /s/ Mike Traina

	Name:	 	Mike Traina
	Title:	 	CEO
	
	KOOSHAREM:
	
	KOOSHAREM CORP. D/B/A SELECT STAFFING
		
	By:	 	 /s/ Paul J. Sorensen

	Name:	 	Paul J. Sorensen
	Title:	 	President
	
	REAL TIME:
	
	REAL TIME STAFFING SERVICES, INC.
		
	By:	 	 /s/ Stephen Biersmith

	Name:	 	Stephen Biersmith
	Title:	 	Vice President and General Counsel

  

 6

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