Document:

EX-10.9

Exhibit 10.9

WAIVER OF RIGHTS UNDER and AMENDMENT TO EMPLOYMENT AGREEMENT

THIS WAIVER OF RIGHTS UNDER and AMENDMENT TO EMPLOYMENT AGREEMENT (“Waiver and Amendment”), is
made this 25th day of April, 2005, between STERLING FINANCIAL CORPORATION (“Corporation”), BANK OF
LANCASTER COUNTY, N.A. (“Bank”) and J. Bradley Scovill (“Executive”).

WHEREAS, Corporation, Bank and Executive executed an Employment Agreement, dated February 29,
2002 (“Employment Agreement”);

WHEREAS, the Employment Agreement designated Executive as Senior Executive Vice President of
Corporation and Chief Financial Officer of Corporation and Bank;

WHEREAS, Corporation, Bank and Executive desire to modify Executive’s title and duties under
the Employment Agreement;

WHEREAS, Corporation, Bank and Executive desire to confirm that this modification will not
provide Executive with Good Reason (as that term is defined in Section 3(c) of the Employment
Agreement) to terminate the Employment Agreement;

WHEREAS, Corporation, Bank and Executive desire to memorialize their intent with respect to
the amendment of Executive’s title and duties and the Executive’s waiver of any and all rights to
terminate the Employment Agreement for Good Reason as a result of the modification of title and
duties,

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained in this
Waiver and Amendment, Corporation, Bank and Executive, each intending to be legally bound hereby,
do covenant, acknowledge and confirm that:

	 	1.	 	This Waiver and Amendment amends the Employment Agreement as set forth herein.
The Employment Agreement shall continue in full force and effect, subject to this
Waiver and Amendment.

	 	2.	 	The Executive’s title and duties shall be modified to reflect that he will no
longer serve or perform any duties as Chief Financial Officer of the Corporation or
Bank, effective May 23, 2005. In furtherance of this modification, Section 2 of the
Employment Agreement, “Duties of Employee,” is amended to read as follows:

Duties of Employee. Executive shall perform and discharge well and
faithfully such duties as an executive officer of Corporation and Bank as
may be assigned to Executive from time to time by the Boards of Directors of
Corporation and Bank and the Chairman, Chief Executive Officer and President
of the Corporation, so long as the assignment is consistent with the
Executive’s office and duties. Executive shall be employed as Senior
Executive Vice President of Corporation and shall hold such other titles as
may be given to him from time to time by the Boards of Directors of
Corporation and Bank. Executive shall devote his full time, attention and
energies to the business of Corporation and Bank during the Employment
Period (as defined in Section 3 of this Agreement); provided, however, that
this Section 2 shall not be construed as preventing Executive from (a)
engaging in activities incident or necessary to personal investments, so
long as such investment does not exceed 5% of the outstanding shares of any
publicly held company, (b) acting as a member of the Board of Directors of
any other corporation or as a member of the Board of Trustees of any other
organization, with the prior approval of the Boards of Directors of
Corporation and Bank, or (c) being involved in any other activity with the
prior approval of the Boards of Directors of Corporation and Bank. The
Executive shall not engage in any business or commercial activities, duties
or pursuits which compete with the business or commercial activities of
Corporation, Bank or their subsidiaries, nor may the Executive serve as a
director or officer or in any other capacity in a company which competes
with Corporation, Bank or their subsidiaries.

	 	3.	 	The modification of Executive’s title and duties described in Section 1 above
shall not constitute Good Reason (as that term is defined in Section 3(c) of the
Employment Agreement) for Executive to terminate the Employment Agreement and Executive
waives any and all rights to terminate the Employment Agreement for Good Reason as a
result of the modification of title and duties described in Section 1 above.

	 	4.	 	This Waiver and Amendment has been executed in accordance with and satisfies
the requirements of Section 14 of the Employment Agreement.

	 	5.	 	Any notice obligations that Corporation and/or Bank owe to Executive with
respect to this Waiver and Amendment, pursuant to Section 13 of the Employment
Agreement, have been satisfied.

	 	6.	 	The Executive waives any and all rights to claim that this Waiver and Amendment
has not been executed in accordance with the provisions of or is in breach of the
Employment Agreement, including without limitation, the requirements set forth in
Sections 13 and 14 of the Employment Agreement.

	 	7.	 	This Waiver and Amendment shall be governed by and construed in accordance with
the domestic, internal laws of the Commonwealth of Pennsylvania, without regard to
conflicts of laws principles.

IN WITNESS WHEREOF, the parties, intending to be legally bound, have executed this Waiver and
Amendment on the date first written above, by placing their signatures or having their authorized
representatives sign below.

	 	 	 	 	 
	ATTEST:	 	STERLING FINANCIAL CORPORATION

	 
	 	 	 	 
	/s/ Kathleen A. Prime

	 	By:
	 	/s/ J. Roger Moyer, Jr.

	 	J.	 	Roger Moyer, Jr.

President and Chief Executive Officer

	 	 	 	 	 
	ATTEST:

	 	 	 	BANK OF LANCASTER COUNTY, N.A.
	 
	 	 	 	 
	/s/ Kathleen A. Prime

	 	By:
	 	/s/ Thomas P. Dautrich

Thomas P. Dautrich

Vice Chairman of the Board
	 
	 	 	 	 
	WITNESS:

	 	 	 	EXECUTIVE
	 
	 	 	 	 
	/s/ Kathleen A. Prime

	 	 	 	/s/ J. Bradley Scovill

J. Bradley ScovillEX-4.1

FIRST AMENDMENT

TO RIGHTS AGREEMENT

This FIRST AMENDMENT TO RIGHTS AGREEMENT (the “Amendment”) is made and entered into as
of April 25, 2005, by and among Online Resources Corporation, a Delaware corporation and American
Stock Transfer and Trust Company.

BACKGROUND

The parties hereto are each a party to a certain Rights Agreement, dated as of January 11,
2002, (the “Agreement”). In connection therewith, the parties wish to make an amendment to
the terms of the Agreement. Capitalized terms not defined in this Amendment shall have the meaning
set forth in the Agreement.

AGREEMENT

The parties hereto agree as follows:

1. Amendment to Section 3(a). Section 3(a) of the Agreement is hereby amended by adding the
following after “the earlier of (i) or (ii) being herein referred to as the “Distribution
Date”:

“; provided, however, that notwithstanding any provision hereof to the contrary, no
Distribution Date shall occur until and unless the stockholders of the Company have
approved and adopted the provisions of this Agreement”

2. No Other Amendments. Except for the amendment expressly set forth in Section 1 of this
Amendment, the Agreement shall remain unchanged and in full force and effect.

3. Counterparts. This Amendment may be executed in any number of counterparts, each of which
shall be enforceable against the parties actually executing such counterparts, and all of which
together shall constitute one instrument.

4. Governing Law. This Amendment shall be governed by and construed in accordance with the
internal laws of the State of Delaware (without regard to the conflicts of law provisions thereof).

[Signature Page Attached]

1

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Rights Agreement to
be duly executed and delivered as of the day and year specified at the beginning hereof.

ONLINE RESOURCES CORPORATION

By:

Print Name:

Title:

AMERICAN STOCK TRANSFER AND

TRUST COMPANY

By:

Print Name:

Title:

2Contract Sale of Life Insurance

EXHIBIT 10.1

Form
of

PURCHASE
AGREEMENT AND ABSOLUTE

ASSIGNMENT
OF LIFE INSURANCE POLICY

Seller:  

Insured:   

Insurance
Company: 

Policy
#:   

 

THIS
AGREEMENT (the
“Agreement”), is dated as
of _________, 2005, by and
between the Seller and the Purchaser. The terms, conditions and provisions set
forth on the Terms Rider and Key Terms (hereinafter, the “Terms Rider”) are
hereby incorporated by reference. All capitalized terms not defined herein are
as defined in the Terms Rider.

WHEREAS, the
Seller is the sole owner of a certain life insurance policy, more particularly
described on the Terms Rider (the “Policy”), issued by the Insurance Company,
insuring the life of the Insured, and;

WHEREAS, the
Seller desires to sell to Purchaser all of Seller's rights, title and interest
in, to and under the Policy and the proceeds and/or benefits derived and/or to
be derived therefrom, and;

WHEREAS,
Purchaser is willing to purchase all of the Seller’s right, title and interest
in, to and under the Policy and the proceeds and/or benefits derived or to be
derived therefrom, and;

WHEREAS, the
Seller has either consulted with or had an opportunity to consult with and
receive professional advice from attorneys, accountants, and/or financial
advisors of the Seller’s choosing prior to entering into this Agreement,
and;

WHEREAS, the
parties, after due consideration and deliberation, desire to enter into this
Agreement setting forth herein their respective rights and obligations with
respect to the Policy, the proceeds and/or benefits derived or to be derived
therefrom, and the subject matter hereof.

NOW,
THEREFORE, in
consideration of the payment by Purchaser to the Seller of the Purchase Price
and in further consideration of the mutual promises and covenants contained in
this Agreement and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

	1.  	
      Incorporation
      of Recitals. The
      above-stated references and recitals are hereby incorporated into this
      Agreement by reference as if set out again in
full.

	2.  	
      Purchase
      & Sale of Policy. Subject
      to the terms and conditions set forth
hereinbelow:

	a.  	
      The
      Seller hereby sells, transfers, conveys and assigns absolutely,
      irrevocably and forever to Purchaser, all the Seller’s right, title,
      claim, interest, options, benefits and privileges in, under and/or with
      respect to the Policy and the proceeds derived and/or to be derived
      therefrom which now or hereafter exist and/or arise in favor of the Seller
      and/or each and every beneficiary in, under or with respect to the Policy,
      including, without limitation, the following rights to:

	i.  	
      change
      the beneficiary on the Policy; 

	ii.  	
      assign
      or surrender the Policy; 

	iii.  	
      borrow
      on and maintain the Policy; 

	iv.  	
      apply
      for obtain a waiver of premium or conversion of the Policy;
    

	v.  	
      be
      notified about any and all matters relative to the Policy as to which
      Seller may or should be notified; 

	vi.  	
      receive
      the net death benefit due under the Policy and use or disburse same as
      Purchaser deems appropriate, in its sole discretion (subject to any of
      Seller's rights of rescission hereunder);

	vii.  	
      use
      and enjoy the cash value and Policy dividends as Purchaser deems
      appropriate, in its sole discretion (subject to any of Seller's rights of
      rescission hereunder).

	b.  	
      Seller,
      concurrently with the Change of Ownership form (attached hereto as Exhibit
      “C”) executed pursuant to this Agreement, hereby designates Purchaser as
      the sole beneficiary of the Policy as indicated on the Change of
      Beneficiary form (attached hereto as Exhibit
“D”).

	c.  	
      Purchaser
      hereby purchases and accepts all of the Seller’s right, title and interest
      in, to and under the Policy and the proceeds and benefits derived and/or
      to be derived therefrom which now or hereafter exist and/or arise in favor
      of the Seller and/or each and every beneficiary in, under and/or with
      respect to the Policy, except as outlined in section 14(a) of this
      Agreement.

	d.  	
      The
      Seller acknowledges and agrees that the foregoing sale, transfer,
      conveyance and assignment includes within it all of the Seller’s right,
      title and interest in and to all money, funds, sums of money and/or other
      proceeds now or in the future due or payable under the Policy, including
      without limitation all dividends, options, benefits, and/or advantages
      derived and/or to be derived from the Policy, and the right to surrender
      the Policy at any time and to receive the surrender value of the Policy,
      all for the sole use and benefit of
Purchaser.

	e.  	
      Following
      the closing of the transaction contemplated herein, Seller shall have no
      obligation to pay premiums on the Policy.

	3.  	
      Purchase
      Price. The
      Purchaser shall pay the Purchase Price to the Seller as follows:
      

Within
three (3) business days, upon receipt from the Seller of documents to effect the
transfer of the Policy, Purchaser will: 

 

Place the
proceeds of the settlement with a trustee or escrow agent, to be placed into an
escrow or trust account in a financial institution that is a member of the
Federal Deposit Insurance Corporation (FDIC), where such proceeds shall remain
until:

 

(i) the
proceeds are disbursed to the Seller within three business days, upon the
written acknowledgment of the transfer of the Policy by the Issuer of the
Policy;

 

(ii) the
proceeds are transferred to purchase an instrument used to effect installment
payments in a manner permitted by Texas law; or

 

(iii) the
proceeds and premium paid by the Purchaser are returned to the Purchaser by the
escrow agent or trustee upon notice of the Seller's rescission, including
rescission due to the death of the Seller within the rescission
period.

	4.  	
      Representations.
      As
      a material inducement to Purchaser to enter into this Agreement and
      consummate the transaction contemplated thereby, the Seller hereby
      represents to Purchaser, which representations shall survive the execution
      and delivery of this Agreement and the Closing thereof, as
      follows:

	a.  	
      That
      the Seller has full, complete and absolute title to and ownership of and
      in the Policy, free and clear of all liens, claims, loans, charges,
      restrictions and encumbrances, and that after the effective date of the
      transfer of ownership of the Policy to Purchaser and the designation of
      Purchaser by the Insurance Company in writing as a sole beneficiary in and
      under the Policy, no person or other legal entity will have any interest
      in or claim to the Policy or the proceeds derived or to be derived
      therefrom other than Purchaser. 

	b.  	
      That
      Seller has the full right, power and authority to enter into this
      Agreement and to consummate the transaction contemplated hereby without
      the consent of the Insurance Company, the beneficiaries of or under the
      Policy, any other party, legal entity, or governmental
    body.

	c.  	
      That
      this Agreement and all Exhibits or other documents executed and delivered
      in connection with or relating to this Agreement (the "Related Documents")
      and the consummation of the transactions contemplated by this Agreement
      and the Related Documents, by the Seller, have been duly executed and
      delivered, and are the legal and binding obligations of the Seller, as the
      case may be, enforceable against the Seller, in accordance with their
      respective terms.

	d.  	
      The
      Agreement and Related Documents (and the consummation of transactions
      contemplated therein) do not, and will not, violate any agreement,
      covenant, law, rule or regulation with respect to which the Seller is
      bound or to which the Seller is a party, and the Seller represents that no
      person, partnership, corporation or other entity has any contract or any
      other rights or claims to the ownership or proceeds of the
      Policy.

	e.  	
      (Intentionally
      omitted) 

	f.  	
      That
      Seller has a full and complete understanding of this Agreement and the
      benefits of the Policy.

	g.  	
      That
      there is attached hereto as Exhibit “A” and incorporated herein by
      reference a true, complete and accurate copy of the original Policy,
      including all amendments, endorsements, schedules, supplements and riders
      thereto.

	h.  	
      That
      the Peachtree Life Settlements Application attached hereto was at the time
      of its completion and delivery, and remains as of the date hereof, true,
      correct and complete in all respects.

	i.  	
      That
      Exhibits "C" and "D" are complete and have been fully executed by
      Seller.

	j.  	
      That
      Exhibits "E" and "F" have been fully completed and executed.
    

	k.  	
      That
      Seller has not filed, nor had filed against Seller any proceeding under
      the Federal Bankruptcy statutes, or state debtor relief laws in any
      jurisdiction, nor has the Seller made any assignment of any property for
      the benefit of any creditors, nor has the Seller had a receiver or trustee
      be appointed for Seller or Seller’s property, nor is there presently
      existing or threatened any execution, levy, attachment or other legal
      process of law upon the Seller’s property including, without limitation,
      the Seller’s interest in the Policy, nor is there outstanding any legal
      process against the Seller or his property which enjoins the Seller from
      transferring ownership of the Policy to Purchaser, or to effect a change
      of beneficiary naming Purchaser as sole beneficiary, nor has the Seller in
      any manner encumbered or pledged the Policy so that the right of ownership
      of the Policy or the right to effect a change of beneficiary naming
      Purchaser as the sole beneficiary may be impaired, affected or possibly
      giving another person, partnership, corporation or other entity an
      interest in the Policy or the right to be named as
      beneficiary.

	l.  	
      That
      all of the information provided to Purchaser by the Seller is complete and
      accurate in all respects.

	m.  	
      That
      the Seller has consulted with and received advice from attorneys,
      accountants and/or financial advisors of the Seller’s own choosing to the
      extent that the Seller has deemed
      such advice necessary in order to satisfy itself that entering into this
      Agreement and consummating the transaction contemplated hereby is in its
      best interest, and that the Seller has determined that entering into this
      Agreement and consummating the transaction contemplated hereby is in its
      best interest, and the Seller acknowledges that he has had this Agreement
      for an amount of time sufficient for him to thoroughly analyze, discuss
      and receive advice from any professionals or anyone of his own
      choice.

	n.  	
      That
      Seller has paid all premiums due until the next policy year, or is hereby
      authorizing the deduction of such premium amounts from the Purchase
      Price.

	o.  	
      That
      to the best knowledge of the Seller, the Policy is not in any way
      contestable by the Insurance Company or any other party.
  

	p.  	
      That
      all information provided by Seller to Purchaser is true and accurate and
      that Seller hereby acknowledges that any person who knowingly presents
      false information in the Agreement or any documents related thereto or any
      utilized to effect the transaction between Seller and Purchaser may be
      found to be guilty of a crime and may be subject to fines and confinement
      in prison.

	q.  	
      That
      the Policy is fully enforceable in all respects, including, without
      limitation, the existence of a valid and legally cognizable insurable
      interest at the time of its issuance and at all times thereafter and that
      to the best knowledge of the Seller, there exists no defense to payment of
      the death benefit due under the terms of the
Policy.

	5.  	
      Deliverable
      Documents. Contemporaneous
      with the execution and delivery of this Agreement, the Seller and the
      Insured (as applicable) shall duly execute and deliver to Purchaser or
      cause to be duly executed and delivered to
Purchaser:

	i.  	
      A
      true and complete copy of the original Policy which shall be attached
      hereto as Exhibit "A".

	ii.  	
      A
      completed Peachtree Life Settlements Application, attached hereto
      including executed original Medical Information Releases and Authorization
      to release Policy Information.

	iii.  	
      Two
      original Change of Ownership forms attached as Exhibit "C" or as otherwise
      required by the Insurance Company in order for the Insurance Company to
      recognize and effectuate the transfer of ownership of the Policy from the
      Seller to Purchaser.

	iv.  	
      Two
      original Change of Beneficiary forms attached as Exhibit "D" or as
      otherwise required by the Insurance Company in order for the Insurance
      Company to recognize and effectuate the change of designation of
      beneficiaries of or under the Policy from all of those presently
      designated by Purchaser.

	v.  	
      A
      completed List of Notifiers who have agreed to provide to Purchaser the
      notification of the death of the Insured which notification shall be in
      the form annexed to the List of Notifiers attached hereto as Exhibit “F”
      .

	vi.  	
      A
      completed Contact Information form, attached hereto as Exhibit
      “E”.

	vii.  	
      Three
      fully executed copies of both Medical and Policy releases, as provided by
      Purchaser.

	viii.  	
      A
      legible form of identification (e.g. drivers license, passport,
      etc.).

	ix.  	
      A
      properly executed Escrow Agreement.

	x.  	
      An
      executed Acknowledgment form as prescribed by the Texas Department of
      Insurance.

	6.  	
      Further
      Documents. The
      Seller and the Insured hereby covenant and agree at any time and from time
      to time subsequent to the execution of this Agreement, at no cost or
      expense to Purchaser, as applicable to the Seller of the Insured,
      respectively, to take all further actions and/or to execute and deliver
      all further assurances, documents and/or instruments as may be requested
      by Purchaser in order to effectuate the intent and purpose of this
      Agreement, including, without limitation, to effectuate and/or confirm
      Purchaser’s designation as the sole beneficiary under the Policy, and that
      the Insured shall authorize
      the provision and/or delivery of information and documentation to
      Purchaser from any physician, hospital, medical provider, insurance
      company or other person or entity with regard to the Insured, the Policy
      and/or any other matter related thereto as may be reasonably requested by
      Purchaser.

	7.  	
      Right
      to Rescind Agreement. 

	a.  	
      Notwithstanding
      any other provisions of this Agreement to the contrary, the parties hereto
      acknowledge and agree that the Seller shall have the right to rescind this
      Agreement and all obligations contained herein by sending written notice
      to Purchaser of Seller's desire to rescind at any time but not later than
      the fifteenth (15th)
      calendar day after the date upon which the Purchase Price is received by
      the Seller. If the Seller does not exercise its right of rescission within
      fifteen (15) calendar days of the date the Seller receives the Purchase
      Price, then the Seller’s right of rescission as set forth herein shall
      terminate.

	b.  	
      In
      the event that Seller elects to rescind this Agreement subsequent to
      receiving the Purchase Price, Seller shall have the right to rescind only
      by: 

	i.  	
      Providing
      Purchaser written notice of election to rescind by Seller,
      and;

	ii.  	
      Making
      an unconditional refund to Purchaser, in immediately available funds, of
      the entire amount paid to Seller pursuant to this Agreement plus any
      amounts which Purchaser may have paid to the Insurance Company as premiums
      or premium deposit.

	c.  	
      In
      the event that the Insured dies during the period in which Seller has a
      right to rescind this Agreement, this Agreement shall be deemed to have
      been rescinded, and the Purchaser shall refund the net death benefit to
      the Seller. A refund of the net death benefit to a beneficiary or
      beneficiaries under this paragraph is subject to repayment to Purchaser of
      the Purchase Price, and if applicable, any premiums paid by the
      Purchaser.

	8.  	
      Conditions
      Precedent. The
      Purchase Price shall be delivered to Seller once the following Conditions
      Precedent have been satisfied or waived in writing by Purchaser:
      

	a.  	
      Receipt
      by Purchaser of a fully executed Agreement.

	b.  	
      Purchaser
      shall have received an original written acknowledgment from the Insurance
      Company that ownership of the Policy has been transferred, and the
      beneficiary designated has been changed, each as requested by
      Purchaser.

	c.  	
      Purchaser
      has verified, the followinginformation relating to the Policy:
      

	i.  	
      the
      face amount of, and net death benefit payable under, the
      Policy;

	ii.  	
      all
      encumbrances on the Policy; 

	iii.  	
      that
      nothing in the Policy prohibits or restricts Seller from executing this
      Agreement, and/or from transferring the ownership of the Policy and
      changing the beneficiary designation as contemplated by this Agreement;
      

	iv.  	
      the
      absence of restrictions on the transfer of the Policy;

	v.  	
      the
      absence of any outstanding premiums on the
Policy;

	vi.  	
      that
      the Policy is in full force and effect and has not lapsed;
  

	vii.  	
      that
      the premiums have been paid up to and including the date of the
      closing;

	d.  	
      The
      representation of the Seller shall be true, accurate and complete as of
      the date hereof and as of the Closing of the transaction contemplated
      herein.

	e.  	
      The
      Seller shall have otherwise complied with all of its covenants,
      commitments, undertakings and agreements contained in this
      Agreement.

	f.  	
      There
      shall not be pending any action, proceeding or governmental action, and
      there shall not have occurred any change in law or regulation or
      interpretation of the same, which challenges or seeks to avoid or
      otherwise places in question the validity of the transactions contemplated
      by the Agreement.

	g.  	
      No
      insolvency, reorganization or like proceedings shall have been commenced
      or threatened against, by or involving the Seller, or the Insurance
      Company. 

	h.  	
      Seller
      shall have completed a recorded pre-Closing interview to the satisfaction
      of Purchaser.

	i.  	
      All
      financial information, policy information premium schedules, inforce
      illustrations and representations shall be true, complete and accurate in
      all material respects.

	j.  	
      In
      the event all Conditions Precedent set forth above have not been satisfied
      in accordance with the terms of this Agreement or waived within sixty (60)
      days of the date of this Agreement, Purchaser may terminate the Agreement
      by sending written notice thereof to the Seller. Upon such termination,
      any funds being held in escrow shall be released therefrom to Purchaser's
      lender.

	9.  	
      Notices.
      Any
      and all notices required or permitted under this Agreement shall be in
      writing, and sent by either certified mail, or registered mail, return
      receipt requested, postage prepaid, or via a nationally recognized
      overnight delivery service which provides proof of delivery, to the party
      to whom it is directed at such party's address above, or at such other
      address provided in a notice as prescribed herein, or to the last known
      post office address of such party. Any such notice duly given pursuant to
      this Agreement shall be deemed effective upon mailing of the notice or if
      given to a nationally recognized overnight delivery service upon delivery
      to said overnight delivery entity.

	10.  	
      Changes
      of Address and Other Information. The
      Seller and Insured agree to notify Purchaser in writing of any change of
      (a) Seller’s and the Insured’s address and other relevant information, and
      (b) any changes in information contained on or pertaining to the Current
      Contact Information form as soon as possible after such change has
      occurred.

	11.  	
      Verification
      of Contact and Other Information. Seller
      and Insured understand that Purchaser shall be verifying Seller’s and the
      Insured’s current address, contact information, family member contact
      information (as applicable), and other relevant information not more
      frequently than once every three (3) months for an Insured with a life
      expectancy greater than one (1) year and not more frequently than every
      thirty (30) days for an Insured with a life expectancy less than one (1)
      year (or such longer period if required by applicable state statute or
      other law) by sending Seller or the Insured (as applicable) correspondence
      with a prepaid return response. Seller and Insured hereby covenant and
      agree that they shall promptly and accurately complete and manually
      execute the return response and return same to Purchaser or its
      assign(s).

Insured
may designate any individual of legal age, in regular contact with the Insured,
as a contact for inquiries about the Insured's health status upon written notice
providing the name, address and telephone number of the individual designated.
Insured may change its designation at any time upon written notice to the
Purchaser.

(a) In the
event Insured makes such a designation, Purchaser, authorized Purchaser's
representatives and/or any authorized broker involved in the transaction
contemplated herein shall not contact the Insured for health status information
about the Insured, unless Purchaser or such authorized Purchaser's
representatives are unable, after diligent effort, to contact a designee for
more than 30 calendar days, subject to the restrictions set forth in subsection
(b) of this section.

(b)  Following
closing of the transaction contemplated herein, Purchaser or authorized
Purchaser's representatives shall not contact the Insured or Insured's designee
to determine the Insured's health status more frequently than once every 30 days
for Insureds with a life expectancy of one year or less, and not more than once
every three (3) months for Insureds with a life expectancy of more than one
year. No person shall contact the Seller, Insured or designee for determining
the health status of an Insured, unless that person is registered as a life
settlement provider, provider representative, or broker in Texas.

(c) Purchaser
hereby advises Seller that, the person/entity that will be contacting the
Insured (or Insured's designee, as the case may be) as to the Insured's health
status will be Purchaser, Life Settlement Corporation, 6501 Park of Commerce
Blvd., Suite 140B, Boca Raton, FL 33487, telephone no. (866) 864-6888 and/or3720
DaVinci Court Suite 450-A Norcross, GA 30092; telephone no. (800) 444-9820. If
someone other than Purchaser will undertake such contacts in the future,
Purchaser shall notify the Insured, in writing, of the name, address and
telephone number of any individual or entity that shall undertake such contact
activities. If the name, address or telephone number of Purchaser changes,
Purchaser shall notify Seller of any such change.

	12.  	
      Entire
      Agreement and Modifications. This
      Agreement, including the Application, the Terms Rider and the Related
      Documents, contains and constitutes the entire agreement between the
      parties hereto with respect to the subject matter hereof, and there are no
      representations, understandings, covenants or obligations between the
      parties hereto other than as expressly set forth in this Agreement, the
      Terms Rider and the Related Documents. No part of this Agreement may be
      modified, amended or waived except by an agreement in writing signed by
      the party or parties against whom enforcement of any such modification,
      amendment or waiver is sought. No change to this Agreement shall be valid
      until (a) approved by the Chief Executive Officer, President, Chief
      Operating Officer or a Senior Vice President of Purchaser, any of whom are
      hereby designated as having authority to bind the Purchaser and (b) such
      approval is endorsed thereon or attached to this Agreement. No person,
      other than the Chief Executive Officer, President, Chief Operating Officer
      or a Senior Vice President of Purchaser has the authority to change this
      Agreement or to waive any of its provisions, and, in the absence of fraud,
      all statements made by Seller shall be deemed representations and not
      warranties.

	13.  	
      Jurisdiction. This
      Agreement was entered into in the State of Texas, and its validity,
      construction, interpretation and legal effect shall be governed by the
      laws and judicial decisions of the State of Texas and the United States of
      America applicable to contracts entered into and performed entirely within
      the State of Texas. Any action at law or in equity arising under this
      Agreement shall be filed only in an appropriate State or Federal Court in
      Texas. The Parties hereto hereby consent and submit to the exclusive
      personal jurisdiction of such Courts for the purposes of litigating any
      such action.

	14.  	
      Miscellaneous.

	a.  	
      In
      the event that the Policy contains a provision of double or additional
      indemnity for accidental death, entitlement to any such additional
      benefits or amounts shall be as follows: The additional death benefit for
      accidental death shall remain payable to the beneficiary last named by the
      Seller, not including the Purchaser or in the absence of a beneficiary, to
      the estate of the Seller;

	b.  	
      Should
      the Seller have a disability waiver of premium for current and future
      premium obligations, and said waiver of premium continues to remain in
      effect after the Policy is sold to Purchaser, the Seller agrees to
      continue to cooperate with Purchaser to ensure that the disability waiver
      of premium continues to remain in place, to the extent that it is
      permitted by the terms of the Policy.

	c.  	
      The
      Policy is incorporated into and made a part of this
    Agreement.

	d.  	
      In
      the event that any provision of this Agreement is found invalid or
      unenforceable pursuant to judicial decree or decision, the remainder of
      this Agreement shall remain valid and enforceable according to its
      terms.

	e.  	
      Seller
      shall not have any right to assign or transfer this Agreement, or any
      rights, duties or obligations of Seller under this Agreement, without the
      prior written consent of Purchaser, which consent may be granted or
      withheld by Purchaser in its sole discretion. Any attempted assignment
      without such consent shall be null and void. Purchaser shall have the
      right to assign this Agreement, including all rights, benefits and
      obligations, in its sole and absolute discretion, without the Insured’s or
      Seller’s consent.

	f.  	
      It
      is not the intention of this Agreement or of the parties hereto to confer
      upon any third party or entity any third party beneficiary rights or
      rights of action whatsoever, and nothing set forth in this Agreement shall
      be construed so as to confer upon any third party or entity, other than
      the parties hereto, any third party beneficiary rights or a right of
      action under this Agreement or in any manner
whatsoever.

	g.  	
      Where
      the context or construction requires, all words applied in the plural
      shall be deemed to have been used in the singular, and vice versa; the
      masculine shall include the feminine and neuter, and vice versa; and the
      present tense shall include the past and future tense, and vice
      versa.

	h.  	
      This
      Agreement may be executed in one or more counterparts, all of which taken
      together shall constitute a single Agreement.

	i.  	
      If
      the Policy has been issued as a joint policy or contains riders or other
      provisions insuring the lives of a spouse, dependents, or anyone else
      other than the Insured, there may be a possible loss of coverage, and
      Seller should consult with his or her Insurance Company or agent to
      determine if the coverage may be converted in order to avoid losing the
      coverage.

	j.  	
      Purchaser
      has the right to assign, sell, or otherwise transfer ownership of the
      Policy to a person or entity unknown to the Seller or Insured without the
      Insured’s or Seller’s consent.

	k.  	
      Any
      notices required under this Agreement shall be given and delivered to
      either Purchaser or Seller via Certified Mail, Return Receipt Requested at
      the address set forth herein or subsequently designated in a written
      notice setting forth an updated address and delivered in accordance with
      this paragraph.

	15.  	
       Other
      Rights of Seller.

As
the Seller is not a corporation incorporated under the laws of the State of
Florida, this Agreement is being entered into in Texas, and this Agreement shall
be regulated by the statutes and regulations of the State of
Texas.

	16.  	
      Consent
      of Insured. 

____________,
is aware
that Seller is selling the Policy to Purchaser and has no objection to such
sale. Insured wishes to aid Seller in the sale of the Policy and facilitate its
sale to Purchaser. To that end Insured agrees and represents as
follows:

	a.  	
      That
      Insured has no claims, interest or liens in, to or under the Policy or any
      of its proceeds in any manner whatsover. 

	b.  	
      The
      Agreement and Related Documents (and the consummation of transactions
      contemplated herein) do not, and will not, violate any agreement,
      covenant, law, rule or regulation with respect to which the Insured is
      bound or the Insured is a party.

	c.  	
      That
      Insured is not now, nor has he ever been the subject of any mental health
      or mental competency proceedings or any other proceedings or hearings with
      respect to which the competency or capacity to contract of the Insured is
      or was an issue, and that no committee, conservator or guardian has ever
      been or is now appointed or serving with respect to the Insured or his
      property, nor is any such proceeding, hearing, appointment or service
      pending, threatened or contemplated. 

	d.  	
      That
      Insured is of sound mind and not subject to any constraint or undue
      influence, and has a full and complete understanding of this Agreement and
      the Related Documents.

	e.  	
      That
      there is attached to the Agreement as Exhibit “A” and incorporated herein
      by reference a true, complete and accurate copy of the Policy, including
      all amendments, endorsements, schedules, supplements and riders
      thereto.

	f.  	
      That
      the Peachtree Life Settlements Application was at the time of its
      completion and delivery, and remains as of the date hereof, true, correct
      and complete in all respects as it relates to the
  Insured.

	g.  	
      That
      Exhibits "F", "G" and "H" have been fully completed and executed by the
      Insured and all actions contemplated thereby have been or will be taken.
      

	h.  	
      All
      of the information provided to Purchaser by the Seller regarding the
      Insured is complete and accurate in all
respects.

	i.  	
      That
      the medical information releases were signed by the Insured, are in full
      force and effect and that the Insured has consented to the release of all
      medical information that has been provided to Purchaser prior to the date
      of this Agreement, and that such consent is in effect and shall remain in
      effect as stated therein.

	j.  	
      Third
      Party Designee.  As
      provided above, Insured has the right to designate a third party designee
      (hereinafter “Designee”) to act as a contact person for verifying
      Insured’s current address, contact information, family member contact
      information, and other relevant information not more frequently than once
      every three (3) months for Insureds with a life expectancy greater than
      one (1) year and not more frequently than every thirty (30) days for
      Insureds with a life expectancy less than one (1) year, by sending
      Designee correspondence with a prepaid return response. If Insured elects
      to designate a Designee, Insured must provide the information requested
      below:

	 	
      Designee
      Name:

      Address: 

      Phone
      Number:

	m. 	Failure of Designee.
      Insured hereby covenants and agrees that, should Designee fail to
      respond to Purchaser’s request for information about Insured, Purchaser
      shall have the right to contact Insured directly to verify Insured’s
      current address, contact information, family member contact information,
      and other relevant information not more frequently than once every three
      (3) months for Insureds with a life expectancy greater than one (1) year
      and not more frequently than every thirty (30) days for Insureds with a
      life expectancy less than one (1) year, by sending Insured correspondence
      with a prepaid return response. Insured hereby covenants and agrees that
      he shall accurately complete and manually execute the return response and
      return same to Purchaser.

 

 

IN
WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals as
of the day and year first above written.

SELLER:        PURCHASER:

Life
Settlement Corporation

By:
_________________________ By:
_________________________ Its:
_________________________

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