Document:

EX-10.29

 Exhibit 10.29 

FIRST AMENDMENT TO LOAN FACILITY AGREEMENT 

THIS FIRST AMENDMENT TO LOAN FACILITY AGREEMENT dated December 9, 2014 (this “Amendment”) is entered into among
Aaron’s, Inc., a Georgia corporation (the “Sponsor”), the Guarantors, the Participants party hereto and SunTrust Bank, as Servicer. All capitalized terms used herein and not otherwise defined herein shall have the
meanings given to such terms in the Loan Facility Agreement (as defined below). 
 RECITALS 

WHEREAS, the Sponsor, the Participants and SunTrust Bank, as Servicer, entered into that certain Third Amended and Restated Loan Facility
Agreement dated as of April 14, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Facility Agreement”); 

WHEREAS, the Sponsor has requested certain amendments to the Loan Facility Agreement; 

WHEREAS, the Participants agree to such requested amendments subject to the terms and conditions of this Amendment; 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Amendments to Loan Facility
Agreement. The Loan Facility Agreement is hereby amended as follows: 
 (a) The cover page of the Loan Facility Agreement is amended by
adding the following at the bottom of such cover page: 
 SUNTRUST ROBINSON HUMPHREY, INC., 

as Joint Lead Arranger and Sole Bookrunner 

and 
 BANK OF AMERICA, N.A.,

 FIFTH THIRD BANK 

and 
 REGIONS CAPITAL
MARKETS, 
 a division of Regions Bank, 

as Joint Lead Arrangers 
 (b) The
following definitions are added in the appropriate alphabetical order to Section 1.1 of the Loan Facility Agreement: 

“First Amendment Effective Date” means December 9, 2014. 

“First Amendment to Loan Facility Agreement” means that certain First Amendment to Loan Facility Agreement dated as of
the First Amendment Effective Date, by and between the Sponsor, the Servicer, the Participants party thereto and the Guarantors party thereto. 

  
 1 

 “Material Domestic Subsidiary” means any Domestic Subsidiary of the
Sponsor that has not already become a Guarantor that (a) at any time (i) accounted for five percent (5.0%) of Consolidated EBITDA for any period of four (4) Fiscal Quarters ended or (ii) holds assets with an aggregate book
value equal to or greater than five percent (5.0%) of the aggregate fair market value of the total assets of the Sponsor and its Subsidiaries on a consolidated basis or (b) when taken together with other Domestic Subsidiaries that are not
already Guarantors, (x) accounted for ten percent (10.0%) of Consolidated EBITDA for any period of four (4) Fiscal Quarters ended or (y) holds assets with an aggregate book value equal to or greater than ten percent
(10.0%) of the aggregate fair market value of the total assets of the Sponsor and its Subsidiaries on a consolidated basis. Upon the acquisition of a new Domestic Subsidiary or the merger or consolidation of any Person with or into an existing
Domestic Subsidiary (or the acquisition of other assets by an existing Domestic Subsidiary), the qualification of the affected Domestic Subsidiary as a “Material Subsidiary” pursuant to the foregoing requirements of this definition shall
be determined on a pro forma basis as if such Domestic Subsidiary had been acquired or such merger, consolidation or other acquisition had occurred, as applicable, at the beginning of the relevant period of four consecutive Fiscal Quarters. 

“Sanctions” shall mean economic or financial sanctions or trade embargoes administered or enforced from time to time by
(a) the U.S. government, including those administered by OFAC or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom. 

(c) The following definitions in Section 1.1 of the Loan Facility Agreement are amended as follows: 

(i) The definition of “Anti-Terrorism Order” is deleted in its entirety. 

(ii) The definition of “Applicable Margin” is amended by replacing the last sentence of such definition with the
following sentence: 
 Notwithstanding the foregoing, the Applicable Margin from the First Amendment Effective Date until the financial
statements and Compliance Certificate for the Fiscal Quarter ending on December 31, 2014 are delivered shall be at Level III. 

(iii) The definition of “Applicable Percentage is amended by replacing the last sentence of such definition with the
following sentence: 
 Notwithstanding the foregoing, the Applicable Percentage for the commitment fee from the First Amendment Effective
Date until the financial statements and Compliance Certificate for the Fiscal Quarter ending on December 31, 2014 are delivered shall be at Level III. 

  
 2 

 (iv) The definition of “Canadian LIBOR” is amended by adding the
following proviso at the end of such definition: 
 ; provided, that, if Canadian LIBOR would be less than zero, such rate shall be deemed to
be zero for purposes of this Agreement. 
 (v) The definition of “Canadian Loan Agreement” is amended to read as
follows: 
 “Canadian Loan Agreement” shall mean a Loan Agreement setting forth the terms and conditions, as between
a Canadian Borrower and the Servicer, under which the Servicer has established a Canadian Loan Commitment to make Advances to such Canadian Borrower pursuant to the Canadian Loan Commitment, substantially in the form of Exhibit B, with such
changes as may be mutually agreed by the Sponsor and the Servicer (it being understood that the Servicer will not unreasonably withhold or delay its agreement to any such changes requested by the Sponsor). 

(vi) The definition of “Consolidated EBITDA” is amended by deleting the “and” immediately prior to clause
(vii) and adding the following after clause (vii): 
 , (viii) one-time fees, costs and expenses (including without limitation
legal and other professional fees) in connection with (x) the retirement and severance of Ronald W. Allen and David Buck and (y) the bid by Vintage Capital Management to acquire the Sponsor, and other proxy contests and shareholder
proposals, including costs, expenses and fees relating to responding to, defending and settling such matters, in each case to the extent such fees, costs and expenses were incurred prior to the First Amendment Effective Date, and
(ix) transaction closing costs, fees and expenses actually incurred during such period in connection with the negotiation and closing of the First Amendment to Loan Facility Agreement, and the related amendments to the Credit Agreement and the
Note Agreements and the related transaction documents, in each case paid during such period to Persons that are not Affiliates of the Sponsor or any Subsidiary. 

(vii) The definition of “Fee Letter” is amended to read as follows: 

“Fee Letter” shall mean that certain letter agreement, dated as of the First Amendment Effective Date, by and between
the Sponsor and the Servicer, setting forth certain fees applicable to the loan facility described herein, either as originally executed or as hereafter amended or modified. 

(viii) The definition of “Sanctioned Country” is amended to read as follows: 

“Sanctioned Country” shall mean, at any time, a country or territory that is, or whose government is, the subject or
target of any Sanctions. 
 (ix) The definition of “Sanctioned Person” is amended to read as follows: 

“Sanctioned Person” shall mean, at any time, (a) any Person listed in any Sanctions-related list of designated
Persons maintained by OFAC, the U.S. Department of State, the United Nations Security Council, the European Union or any EU member state, (b) any Person located, organized or resident in a Sanctioned Country or (c) any Person controlled by
any such Person. 

  
 3 

 (x) The definition of “Servicing Agreement” is amended to read as
follows: 
 “Servicing Agreement” shall mean that certain Fifth Amended and Restated Servicing Agreement, dated as of
December 9, 2014, by and between the Sponsor and the Servicer, as amended, restated, supplemented or otherwise modified from time to time. 

(xi) The definition of “US LIBOR” is amended by adding the following proviso at the end of the proviso of such
definition: 
 ; provided, further, that, if US LIBOR would be less than zero, such rate shall be deemed to be zero for purposes of this
Agreement. 
 (xii) The definition of “US Loan Agreement” is amended to read as follows: 

“US Loan Agreement” shall mean a Loan and Security Agreement setting forth the terms and conditions, as between a US
Borrower and the Servicer, under which the Servicer has established a US Loan Commitment to make Advances to such Borrower pursuant to the US Loan Commitment, substantially in the form of Exhibit C, with such changes as may be mutually agreed
by the Sponsor and the Servicer (it being understood that the Servicer will not unreasonably withhold or delay its agreement to any such changes requested by the Sponsor); provided, however, that any loan agreement or line of credit agreement
executed by any Borrower and the Servicer prior to the Effective Date shall be substantially in the form required under the Existing Loan Facility Agreement (with such changes as may be mutually agreed by the Sponsor and the Servicer, it being
understood that the Servicer will not unreasonably withhold or delay its agreement to any such changes requested by the Sponsor). 
 (d)
Section 2.1(a) of the Loan Facility Agreement is amended by replacing “December 11, 2014” with “December 11, 2015”. 

(e) Section 3.1(b) of the Loan Facility Agreement is amended to read as follows: 

(b) The forms of Loan Agreements, Canadian Security Agreement and Notes used by the Servicer as documentation for each Loan on and after the
First Amendment Effective Date shall be substantially in the forms attached hereto with such changes as may be mutually agreed by the Sponsor and the Servicer (it being understood that the Servicer will not unreasonably withhold or delay its
agreement to any such changes requested by the Sponsor). 
 (f) Sections 5.17 and 5.18 of the Loan Facility Agreement are deleted in their
entirety and replaced with the following Section 5.17: 
 Section 5.17. Anti-Corruption Laws and Sanctions. The Sponsor has
implemented and maintains in effect policies and procedures designed to ensure compliance in all material respects by the Sponsor, its Subsidiaries and their respective directors, officers, 

  
 4 

 
employees and agents with Anti-Corruption Laws and applicable Sanctions, and the Sponsor, its Subsidiaries and their respective officers (in such capacity), employees (in such capacity) and, to
the knowledge of the Sponsor, its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions. None of (a) the Sponsor, any Subsidiary or any of their respective officers (in such capacity) or employees (in such
capacity), or (b) to the knowledge of the Sponsor, any director or agent of the Sponsor or any Subsidiary is a Sanctioned Person. No Borrowing or Letter of Credit, use by the Sponsor or any Subsidiary of the proceeds thereof or other
transactions contemplated hereby will violate Anti-Corruption Laws or applicable Sanctions. 
 (g) Section 6.1(g) of the Loan Facility
Agreement is amended by (i) adding “, in each case, on a quarter by quarter basis for such forecasted Fiscal Year information;” at the end of such Section and (ii) deleting the period at the end of such Section. 

(h) Section 6.3 of the Loan Facility Agreement is amended by adding the following language immediately prior to the proviso appearing in
said Section: 
 , including but not limited to the business of leasing and selling furniture, consumer electronics, computers, appliances
and other household goods and accessories inside and outside of the United States of America, through both independently-owned and franchised stores, providing lease-purchase solutions, credit and other financing solutions to customers for the
purchase and lease of such products, the manufacture and supply of furniture and bedding for lease and sale in such stores, and the provision of virtual rent-to-own programs inside and outside of the United States of America (including but not
limited to point-of-sale lease purchase programs). 
 (i) Section 6.9 of the Loan Facility Agreement is amended by adding the following
as a new paragraph to such Section: 
 The Sponsor shall ensure that the Borrowers and their respective directors, officers, employees and
agents shall not use the proceeds of any Loans (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws,
(ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that would result in the violation of any Sanctions
applicable to any party hereto. 
 (j) Section 6.10(a) of the Loan Facility Agreement is amended to read as follows: 

(a) Within ten (10) Business Days (or such later date as the Servicer may agree in its sole discretion) after any Domestic Subsidiary is
acquired or formed, the Sponsor shall (i) notify the Servicer and the Participants thereof, (ii) if such Domestic Subsidiary is a Material Domestic Subsidiary, cause such Subsidiary to become a Guarantor by executing agreements in the form
of Annex I to the Subsidiary Guarantee Agreement and (iii) if such Subsidiary is a Material Domestic Subsidiary, cause such Domestic Subsidiary to deliver simultaneously therewith similar documents applicable to such Domestic Subsidiary
described in 

  
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Section 3.1 as reasonably requested by the Servicer. In the event that any Domestic Subsidiary that is not already a Guarantor becomes a Material Domestic Subsidiary at any time
after its formation or acquisition, the Sponsor shall have up to (10) Business Days (or such later date as the Servicer may agree in its sole discretion) to cause it to (x) become a Guarantor by executing agreements in form and substance
reasonably satisfactory to the Servicer and (y) deliver simultaneously therewith similar documents applicable to such Domestic Subsidiary described in Section 13.1 as reasonably requested by the Servicer. 

(k) The first sentence of Section 6.10(b) of the Loan Facility Agreement is amended to read as follows: 

The Sponsor may, after the Effective Date, acquire (subject to Section 8.4) or form additional Foreign Subsidiaries. 

(l) Section 7.1 of the Loan Facility Agreement is amended to read as follows: 

Section 7.1 Total Debt to EBITDA Ratio. The Sponsor and its Subsidiaries shall maintain, as of the last day of each Fiscal
Quarter, a Total Debt to EBITDA Ratio of not greater than (a) with respect to the Fiscal Quarter ending December 31, 2014 and each Fiscal Quarter ending thereafter through and including December 31, 2015, 3.25:1.00, and (b) for
each Fiscal Quarter ending thereafter, 3.00:1.00. 
 (m) Section 7.2 of the Loan Facility Agreement is amended to read as follows: 

Section 7.2 Fixed Charge Coverage Ratio. The Sponsor and its Subsidiaries shall maintain, as of the last day of each Fiscal
Quarter, a Fixed Charge Coverage Ratio of not less than (a) with respect to the Fiscal Quarter ending December 31, 2014 and each Fiscal Quarter ending thereafter through and including December 31, 2015, 1.75:1.00, and (b) for
each Fiscal Quarter ending thereafter, 2.00:1.00. 
 (n) Section 15.1(b) of the Loan Facility Agreement is amended by adding the
following new clauses (iii) and (iv): 
 (iii) The Sponsor agrees that the Servicer may, but shall not be obligated to, make
Communications (as defined below) available to the Participants by posting the Communications on Debt Domain, Intralinks, Syndtrak, ClearPar or a substantially similar Electronic System. 

(iv) Any Electronic System used by the Servicer is provided “as is” and “as available.” The Agent Parties (as defined
below) do not warrant the adequacy of such Electronic Systems and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of
merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications or any Electronic System. In no event shall the
Servicer or any of its Related Parties (collectively, the “Agent Parties”) have any liability to any 

  
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Credit Party, any Participant or any other Person or entity for damages of any kind, including, without limitation, direct or indirect, special, incidental or consequential damages, losses or
expenses (whether in tort, contract or otherwise) arising out of any Credit Party’s or the Servicer’s transmission of Communications through an Electronic System. “Communications” means, collectively, any notice,
demand, communication, information, document or other material provided by or on behalf of any Credit Party pursuant to any Operative Document or the transactions contemplated therein which is distributed by the Servicer or any Participant by means
of electronic communications pursuant to this Section, including through an Electronic System. 
 (o) Schedule 1.1(b) of the Loan Facility
Agreement is amended to read as Schedule 1.1(b) attached hereto. 
 (p) Exhibits B and C of the Loan Facility Agreement are amended
to read, respectively, as Exhibits B and C attached hereto. 
 2. Participant Joinder. 

(a) Each participant party hereto that does not have a Participating Commitment and/or Funded Participation under the Loan Facility Agreement
prior to the First Amendment Effective Date (each, a “New Participant”) hereby agrees to provide a Participating Commitment in an amount set forth on Schedule 1.1(b) attached hereto. 

(b) Each New Participant (i) represents and warrants that (1) it has full power and authority, and has taken all action necessary,
to execute and deliver this Amendment and to consummate the transactions contemplated hereby and to become a Participant under the Loan Facility Agreement, (2) from and after the date hereof, it shall be bound by the provisions of the Loan
Facility Agreement as a Participant thereunder and shall have the obligations of a Participant thereunder, (3) it has received a copy of the Loan Facility Agreement, together with copies of the most recent financial statements delivered
pursuant to Section 6.1 thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment and, based on such information, has made such analysis and decision
independently and without reliance on the Servicer or any other Participant and (4) it has delivered to the Sponsor and/or the Servicer, as applicable, any documentation required to be delivered by it pursuant to the terms of the Loan Facility
Agreement, duly completed and executed by such New Participant (including, but not limited to, completion, execution and delivery of applicable Internal Revenue Service tax withholding exemption forms); and (ii) agrees that it will
(1) independently and without reliance on the Servicer or any other Participant, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Operative Documents and (2) perform in accordance with their terms all of the obligations which by the terms of the Operative Documents are required to be performed by it as a Participant. 

(c) Each of the Credit Parties, the Participants (including the New Participants) and the Servicer agrees that, as of the First Amendment
Effective Date, each New Participant shall (i) be a party to the Loan Facility Agreement, (ii) be a “Participant” for all purposes of the Loan Facility Agreement and the other Operative Documents and (iii) have the rights
and obligations of a Participant under the Loan Facility Agreement and the other Operative Documents. 

  
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 3. Participating Commitments. The Servicer and the Participants agree that the
Participating Commitments of each of the Participants immediately prior to the effectiveness of this Amendment shall be reallocated (and to the extent necessary with respect to each Participant, increased or decreased) among the Participants such
that, immediately after the effectiveness of this Amendment in accordance with its terms, the Participating Commitments of each Participant shall be as set forth on Schedule 1.1(b) attached hereto. In order to effect such reallocations,
assignments shall be deemed to be made among the Participants in such amounts as may be necessary, and with the same force and effect as if such assignments were evidenced by the applicable Assignments and Acceptances (but without the payment of any
related assignment fee), and no other documents or instruments shall be required to be executed in connection with such assignments (all of which such requirements are hereby waived). Further, to effect the foregoing, each Participant agrees to make
cash settlements in respect of any outstanding Funded Participations, either directly or through the Servicer, as the Servicer may direct or approve, such that after giving effect to this Amendment, each Participant holds Funded Participations equal
to its Pro Rata Share (based on the Participating Commitment of each Participant as set forth on Schedule 1.1(b) attached hereto). 

4. Conditions Precedent. This Amendment shall be effective upon satisfaction of the following conditions precedent in each case in a
manner reasonably satisfactory to the Servicer and each Participant: 
 (a) Amendment. Receipt of a counterpart of (i) this
Amendment signed by each of the Credit Parties, the Participants and the Servicer, (ii) the Fifth Amended and Restated Servicing Agreement signed by the Sponsor and the Servicer and (iii) the Fee Letter signed by the Sponsor and the
Servicer. 
 (b) Opinion of Counsel. Receipt of a favorable written opinion of Kilpatrick Townsend & Stockton LLP, counsel
to the Credit Parties, addressed to the Servicer and each of the Participants, and covering such matters relating to the Credit Parties, the Operative Documents and the transactions contemplated therein as the Servicer or the Participants shall
reasonably request. 
 (c) Organization Documents, Resolutions, Etc. Receipt by the Servicer of the following: 

(i) a certificate of the Secretary or Assistant Secretary of each Credit Party attaching and certifying copies of its bylaws or
operating agreement, as applicable, and of the resolutions of its board of directors (or equivalent governing body), authorizing the execution, delivery and performance of this Amendment and certifying the name, title and true signature of each
officer of such Credit Party executing this Amendment; and 
 (ii) certified copies of the articles of incorporation or other
charter documents of each Credit Party, together with certificates of good standing or existence, as may be available from the Secretary of State of the jurisdiction of incorporation of such Credit Party. 

(d) Material Adverse Effect. Since December 31, 2013, there shall have been no change which has had or could reasonably be
expected to have a Material Adverse Effect. 
 (e) No Default. As of the First Amendment Effective Date, no Credit Event or Unmatured
Credit Event shall exist. 
 (f) Representations and Warranties. As of the First Amendment Effective Date, all representations and
warranties of each Credit Party set forth in the Operative Documents shall be true and correct in all material respects (other than those representations and warranties that are expressly qualified by Material Adverse Effect or other materiality, in
which case such representations and 

  
 8 

 
warranties shall be true and correct in all respects); provided, that to the extent such representation or warranty relates to a specific prior date, such representation or warranty shall
be true and correct in all material respects (other than those representations and warranties that are expressly qualified by Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct
in all respects) only as of such specific prior date. 
 (g) Closing Certificate. Receipt by the Servicer of a certificate, dated the
First Amendment Effective Date and signed by a Responsible Officer, (i) confirming compliance with the conditions set forth in Sections 2(d), (e) and (f), and (ii) certifying that (x) all consents, approvals,
authorizations, registrations and filings and orders required or advisable to be made or obtained under any applicable laws, or by any contractual obligation of each Credit Party, in connection with the execution, delivery, performance, validity and
enforceability of this Amendment or any of the transactions contemplated hereby, and such consents, approvals, authorizations, registrations, filings and orders shall be in full force and effect and all applicable waiting periods shall have expired,
and (y) no known investigation or inquiry by any Governmental Authority regarding the Commitments or any transaction being financed with the proceeds thereof shall be ongoing. 

(h) OFAC, Patriot Act, Etc. Receipt by the Servicer and any requesting Participant of all documentation and other information with
respect to the Credit Parties that the Servicer or such Participant, as applicable, has requested of the Sponsor and which the Servicer or such Participant, as applicable, reasonably believes is required by regulatory authorities under applicable
“know-your-customer” and anti-money laundering rules and regulations, including without limitation the Patriot Act. 
 (i)
Amendments to Credit Documents. The Credit Agreement and the other Credit Documents shall have been amended in a manner reasonably satisfactory to the Servicer. 

(j) Amendments to Note Agreements. The Note Agreements shall have been (or shall be substantially simultaneously herewith) amended in a
manner reasonably satisfactory to the Servicer. 
 (k) Fees and Attorney Costs. Receipt by the Servicer and the Participants of all
fees and other amounts due and payable on or prior to the First Amendment Effective Date, including reimbursement or payment of all out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel to the Servicer) required to
be reimbursed or paid by the Sponsor hereunder, under any other Operative Document and under any agreement with the Servicer. 
 5.
Miscellaneous. 
 (a) This Amendment shall be deemed to be, and is, an Operative Document. 

(b) Each Credit Party (i) acknowledges and consents to all of the terms and conditions of this Amendment, (ii) agrees that this
Amendment and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Loan Facility Agreement or the other Operative Documents or any certificates, documents, agreements and instruments executed
in connection therewith, (iii) affirms all of its obligations under the Operative Documents, (iv) affirms that each of the Liens granted in or pursuant to the Operative Documents are valid and subsisting and (v) agrees that this
Amendment shall in no manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Operative Documents. 

  
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 (c) Effective as of the First Amendment Effective Date, all references to the Loan Facility
Agreement in each of the Operative Documents shall hereafter mean the Loan Facility Agreement as amended by this Amendment. 
 (d) Each of
the Credit Parties hereby represents and warrants to the Servicer and the Credit Parties as follows: 
 (i) such Credit Party
has taken all necessary action to authorize the execution, delivery and performance of this Amendment; 
 (ii) this Amendment
has been duly executed and delivered by such Credit Party and constitutes such Credit Party’s legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be subject to (A) bankruptcy,
insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (B) general principles of equity (regardless of whether such enforceability is considered in a proceeding
at law or in equity); and 
 (iii) no consent, approval, authorization or order of, or filing, registration or qualification
with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by any Credit Party of this Amendment. 

(e) This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all
of which shall constitute one and the same agreement. Delivery of an executed counterpart of this Amendment by telecopy, pdf or other similar electronic transmission shall be effective as an original and shall constitute a representation that an
executed original shall be delivered. 
 (f) This Amendment shall be construed in accordance with and be governed by the law (without giving
effect to the conflict of law principles thereof) of the State of Georgia. 
 [Signature pages follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as
of the date first above written. 
  

							
	SPONSOR:	 		 	AARON’S, INC.
				
		 		 	By:	 	 /s/ Gilbert L. Danielson

		 		 	Name:	 	Gilbert L. Danielson
		 		 	Title:	 	Executive Vice President and Chief Financial Officer
			
	GUARANTORS:	 		 	AARON INVESTMENT COMPANY,
		 		 	as a Guarantor
				
		 		 	By:	 	 /s/ Gilbert L. Danielson

		 		 	Name:	 	Gilbert L. Danielson
		 		 	Title:	 	Vice President and Treasurer
			
		 		 	AARON’S PRODUCTION COMPANY,
		 		 	as a Guarantor
				
		 		 	By:	 	 /s/ Gilbert L. Danielson

		 		 	Name:	 	Gilbert L. Danielson
		 		 	Title:	 	Vice President and Chief Executive Officer
			
		 		 	99LTO, LLC,
		 		 	AARON’S LOGISTICS, LLC,
		 		 	AARON’S PROCUREMENT COMPANY, LLC,
		 		 	AARON’S STRATEGIC SERVICES, LLC,
		 		 	each as a Guarantor
				
		 		 	By:	 	AARON’S, INC., as sole Manager
				
		 		 	By:	 	 /s/ Gilbert L. Danielson

		 		 	Name:	 	Gilbert L. Danielson
		 		 	Title:	 	Executive Vice President, Chief Financial Officer
			
		 		 	PROGRESSIVE FINANCE HOLDINGS, LLC,
		 		 	as a Guarantor
				
		 		 	By:	 	 /s/ Gilbert L. Danielson

		 		 	Name:	 	Gilbert L. Danielson
		 		 	Title:	 	Executive Vice President

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

 
					
	Prog Finance Arizona, LLC
	Prog Finance California, LLC
	Prog Finance Florida, LLC
	Prog Finance Georgia, LLC
	Prog Finance Illinois, LLC
	Prog Finance Michigan, LLC
	Prog Finance New York, LLC
	Prog Finance Ohio, LLC
	Prog Finance Texas, LLC
	Prog Finance Mid-West, LLC
	Prog Finance North-East, LLC
	Prog Finance South-East, LLC
	Prog Finance West, LLC
	NPRTO Arizona, LLC
	NPRTO California, LLC
	NPRTO Florida, LLC
	NPRTO Georgia, LLC
	NPRTO Illinois, LLC
	NPRTO Michigan, LLC
	NPRTO New York, LLC
	NPRTO Ohio, LLC
	NPRTO Texas, LLC
	NPRTO Mid-West, LLC
	NPRTO North-East, LLC
	NPRTO South-East, LLC
	 NPRTO West, LLC,
 each as a
Guarantor

		
	By:	 	PROG LEASING, LLC, Sole Manager
			
		 	By:	 	PROGRESSIVE FINANCE
		 		 	HOLDINGS, LLC, Sole Manager
		
	By:	 	 /s/ Gilbert L. Danielson

	Name:	 	Gilbert L. Danielson
	Title:	 	Executive Vice President
	
	PANGO LLC, as a Guarantor
		
	By:	 	PROGRESSIVE FINANCE HOLDINGS, LLC, Sole Manager
		
	By:	 	 /s/ Gilbert L. Danielson

	Name:	 	Gilbert L. Danielson
	Title:	 	Executive Vice President

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

					
	PROG LEASING, LLC, as a Guarantor
		
	By:	 	PROGRESSIVE FINANCE HOLDINGS, LLC, Sole Manager
		
	By:	 	 /s/ Gilbert L. Danielson

	Name:	 	Gilbert L. Danielson
	Title:	 	Executive Vice President

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

							
	SERVICER:	 		 	SUNTRUST BANK,
		 		 	as Servicer and as a Participant
				
		 		 	By	 	 /s/ William David Hart

		 		 	Name:	 	William David Hart
		 		 	Title:	 	Managing Director

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

							
	PARTICIPANTS:	 		 	BANK OF AMERICA, N.A.,
		 		 	as a Participant
				
		 		 	By	 	 /s/ Ryan Maples

		 		 	Name:	 	Ryan Maples
		 		 	Title:	 	Vice President

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

							
	PARTICIPANTS:	 		 	Regions Bank,
		 		 	as a Participant
				
		 		 	By	 	 /s/ Gilbert H. Reese

		 		 	Name:	 	Gilbert H. Reese
		 		 	Title:	 	Senior Vice President

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

							
	PARTICIPANTS:	 		 	Branch Banking and Trust Company,
		 		 	as a Participant
				
		 		 	By	 	 /s/ Bradley B. Sands

		 		 	Name:	 	Bradley B. Sands
		 		 	Title:	 	Assistant Vice President

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

							
	PARTICIPANTS:	 		 	Citizens Bank, N.A.,
		 		 	as a Participant
				
		 		 	By	 	 /s/ Peter van der Horst

		 		 	Name:	 	Peter van der Horst
		 		 	Title:	 	Senior Vice President

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

							
	PARTICIPANTS:	 		 	FIFTH THIRD BANK,
		 		 	as a Participant
				
		 		 	By	 	 /s/ Kenneth W. Deere

		 		 	Name:	 	Kenneth W. Deere
		 		 	Title:	 	Senior Vice President

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

							
	PARTICIPANTS:	 		 	Synovus Bank,
		 		 	as a Participant
				
		 		 	By	 	 /s/ Mike Sawicki

		 		 	Mike Sawicki
		 		 	Corporate Banking

  
 FIRST AMENDMENT TO
LOAN FACILITY AGREEMENT 
 AARON’S, INC. 

 SCHEDULE 1.1(b) 

PARTICIPANT COMMITMENTS 
  

					
	 Participant
	  	Participating
Commitment	 
	 SunTrust Bank
	  	$	36,666,667.00	  
	 Bank of America, N.A.
	  	$	30,000,000.00	  
	 Fifth Third Bank, an Ohio banking corporation
	  	$	30,000,000.00	  
	 Regions Bank
	  	$	30,000,000.00	  
	 Branch Banking & Trust Company
	  	$	26,666,667.00	  
	 Citizens Bank
	  	$	13,333,333.00	  
	 Synovus Bank
	  	$	8,333,333.00	  
		  	  
	  
	 
	 Total:
	  	$	175,000,000.00	  

 EXHIBIT B 

 EXHIBIT B 

TO 
 THIRD
AMENDED AND RESTATED LOAN FACILITY AGREEMENT 
 AND GUARANTY 

FORM OF CANADIAN LOAN AGREEMENT 

THIS LOAN AGREEMENT (this “Agreement”) dated as of
                    , is made between
                     (“Borrower”), a
                                        
[incorporated]/[formed]under the laws of                     , and SUNTRUST BANK (“Bank”), a Georgia banking corporation having its
principal office in Atlanta, Georgia. 
 W I T N E S S E T H: 

WHEREAS, Borrower engages in the business of leasing and selling furniture, electronics, appliances, and other household goods and is a
franchisee of Aaron’s, Inc., a Georgia corporation formerly known as Aaron Rents, Inc. (“Aaron”); 
 WHEREAS, Borrower
has requested and Bank has agreed to provide financing to Borrower; 
 WHEREAS, Borrower and Bank wish to enter into this Agreement to set
forth the terms and conditions of Bank’s establishment of a credit facility for Borrower; 
 THEREFORE, upon the terms and conditions
hereinafter stated, and in consideration of the mutual premises set forth above and other adequate consideration, the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows: 

 

	 	1.	DEFINITIONS AND RULES OF CONSTRUCTION. 

 1.1 As used in this Agreement, the following
terms shall have the meanings set forth below (terms defined in the singular to have the same meaning when used in the plural and vice versa): 

“Aaron’s Proprietary System” means Aaron’s proprietary point of sale software system, as modified from time to
time, used by Aaron and its franchisees, such as Borrower. 
 “Account” means any right of Borrower to payment for goods
sold or leased or for services rendered which is not evidenced by an Instrument or Chattel Paper, whether or not earned by performance. 

“Account Debtor” means any Person who is liable on an Account. 

“Advance” means an advance of funds by Bank on behalf of Borrower pursuant to the Line of Credit or Revolving Note executed
by Borrower. 
 “Agreement” means this Loan Agreement and all exhibits, riders and schedules at any time executed by the
parties and made a part hereof by reference, either as originally executed or as hereafter amended, restated, modified or supplemented from time to time. 

 “Anti-Corruption Laws” shall mean all laws, rules, and regulations of any
jurisdiction applicable to the Borrower and its Subsidiaries from time to time concerning or relating to bribery or corruption. 

“Anti-Terrorism Order” shall mean Executive Order 13224, signed by President George W. Bush on September 23, 2001. 

“Applicable Law” means all laws, rules and regulations applicable to the Person, conduct, transaction, covenant or Loan
Documents in question, including, without limitation, all applicable law and equitable principles; all provisions of all applicable state, provincial, territorial and federal constitutions, statutes, rules, regulations and orders of governmental
bodies; and all orders, judgments and decrees of all courts and arbitrators. 
 “Approved Invoice” means an invoice for the
aggregate purchase price of Merchandise purchased by Borrower with a purchase order approved by Aaron. 
 “Asset
Disposition” means (i) all sales of Merchandise; (ii) all Merchandise which is determined to have been stolen; (iii) all Merchandise that is destroyed, lost or otherwise removed from the premises of Borrower other than
pursuant to a Lease Contract or by outright sale or for repair work; and (iv) all “skipped” Merchandise which is Merchandise subject to a Lease Contract. 

“Asset Disposition Prepayment” shall have the meaning set forth in Section 2.10(b) hereof. 

“Bank” means SunTrust Bank and its successors and assigns. 

“BIA” means the Bankruptcy and Insolvency Act (Canada), as it may be amended from time to time. 

“Books and Records” means all of Borrower’s books and records evidencing or relating to its business, financial
condition or the Collateral, including, but not limited to, all customer lists, ledgers, invoices, purchase orders, financial statements, computer tapes and disks. 

“Borrowing Base” shall mean, on any date of determination, an amount equal to
[        ] multiplied by Rental Revenue for the most recently ended three calendar months. 

“Borrowing Base Report” shall have the meaning set forth in Section 2.5(iv) hereof. 

“Business Day” means any day other than a Saturday, Sunday or a day on which commercial banks in Toronto, Ontario are
authorized by law to close. 
 “Business PAD” shall have the meaning set forth in the Pre-Authorized Debt Rules. 

“CCAA” means the Companies Creditors Arrangement Act (Canada), as it may be amended from time to time. 

“Chattel Paper” shall have the meaning ascribed to it in the PPSA. 

“Closing Date” means for (i) the Revolving Commitment, the date set forth in the Revolving Note on which all Loan
Documents have been executed and delivered and the conditions precedent to funding an Advance thereunder have been satisfied, (ii) the Term Loan, the date set forth in the Term Note on which all Loan Documents have been executed and delivered
and the conditions precedent to funding the loan have been satisfied, and (iii) the Line of Credit Commitment, the date set forth in the Line of Credit Note on which all Loan Documents have been executed and delivered and the conditions
precedent to funding the loan have been satisfied. 

 “Closing Fee” shall have the meaning given to such term in Section 2.11
hereof. 
 “Collateral” shall have the meaning given to such term in the Security Agreement. 

“Collateral Agreement” means an agreement executed by Borrower and any other Persons primarily or secondarily liable for all
or part of the Loans or granting a security interest to Bank in specified Collateral as security for the Loans, including without limitation, this Agreement and any Guaranties. 

“Commitment Fee” shall have the meaning set forth in Section 2.12 hereof. 

“Debt” means (i) indebtedness for borrowed money or for the deferred purchase price of property or services (other than
trade accounts payable on customary terms in the ordinary course of business), (ii) financial obligations evidenced by bonds, debentures, notes or other similar instruments, (iii) financial obligations as lessee under leases which shall
have been or should be, in accordance with GAAP, recorded as capital leases, and (iv) obligations under direct or indirect guaranties in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to
assure a creditor against loss in respect of, indebtedness or financial obligations of others of the kinds referred to in clauses (i) through (iii) above. 

“Debt Service” means, for any particular period, the total required payments of principal (excluding any payments of
principal required to be made as a result of any Asset Disposition), interest and fees made by Borrower with respect to its Debt (other than Debt of Borrower which is subordinated to the Loan Indebtedness owing to Bank pursuant to a subordination
agreement in form and substance satisfactory to Bank) during such period to the extent that such Debt arises pursuant to this Agreement or any other financing arrangement with respect to Merchandise. 

“Default Condition” means the occurrence of any event which, after satisfaction of any requirement for the giving of notice
or the lapse of time, or both, would become an Event of Default. 
 “Default Rate” means the annual percentage interest
rate applied to the principal of the Loans not paid when due under the terms of the applicable Loan Documents, which rate shall equal the sum of two percent (2%) per annum plus the Floating Rate. 

“Delinquent Payment Fee” shall have the meaning set forth in Section 2.13 hereof. 

“Environment” means the component of the Earth, and includes (i) land, water and air, including all layers of the
atmosphere; (ii) all organic and inorganic matter and living organisms; and (iii) the interacting natural systems that include components referred to in paragraphs (i) and (ii). 

“Environmental Laws” means federal, provincial, local and foreign laws, principles of common law, regulations and codes, as
well as orders, decrees, judgments or injunctions issued, promulgated, approved or entered thereunder relating to pollution, protection and presentation of the environment or occupational health and safety, including, but not limited to the release
or threatened release of Hazardous Substances into the Environment or otherwise relating to the presence, manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Substances. 

 “Equipment” means all machinery, equipment, furniture, fixtures, motor vehicles
and other tangible personal property (other than Inventory) of Borrower, including, but not limited to, all items described on the Equipment Schedule (if attached) and all substitutions and replacements thereof. 

“Event of Default” shall have the meaning set forth in Section 9 hereof. 

“FCTA” means Borrower’s Foreign Currency Transaction Account held with Bank into which Bank shall deposit the Advances
for the purpose of (i) paying, by means of SWIFT transfer (or such other method approved in writing by Aaron and acceptable to Bank), Approved Invoices arising from purchases of Merchandise from a supplier, including any freight charges to the
extent Aaron consents thereto, (ii) paying, to Borrower’s own account (or, with the written consent of Aaron, such other account for which wiring instructions have been provided to the Bank) upon the consent of Aaron, state use taxes
associated therewith, and (iii) paying, to Borrower’s own account (or, with the written consent of Aaron, such other account for which wiring instructions have been provided to the Bank) any other items to the extent expressly permitted to
be paid hereunder. 
 “Floating Rate” means a rate of interest per annum equal to the Prime Rate plus an additional [four
and three-quarters] percent ([4.75%]1) per annum, such rate to change as and when the Prime Rate changes. 

“Franchise Agreement” means the written agreement between Aaron and Borrower whereby Borrower is authorized to establish an
“Aaron’s” franchise. 
 “GAAP” means generally accepted accounting principles in Canada, consistently
applied. 
 “Guarantor” means each Person who now or hereafter guarantees payment of the whole or any part of the Loan
Indebtedness. 
 “Guaranty” means any guaranty agreement executed by each of the partners, shareholders, and where not
prohibited by law, the spouses of such persons, of Borrower, or such other Persons as may be required by Bank, in favor of Bank with respect to the obligations of Borrower with respect to the Loans in the form provided by Bank, as the same may be
amended, restated or supplemented from time to time. 
 “Hazardous Substances” means any waste, pollutant, hazardous
substance, toxic substance, hazardous waste, special waste, industrial substance or waste, petroleum or petroleum-derived substance or waste, or any constituent of any such substance or waste, including without limitation, any such substance
regulated under or defined by any Environmental Law. 
 “Instrument” shall have the meaning ascribed to it in the PPSA.

 “Inventory” means all inventory of Borrower, including, without limitation, all raw materials, work in process, finished
goods, goods being leased pursuant to Lease Contracts, and other goods held by Borrower for sale or lease or furnished under contracts of service. 

“Lease Contract” means a contract between Borrower and a customer to lease Merchandise in the form approved by Aaron (and
which may include purchase options). 
  

	1 	Note: This interest rate shall be as designated by Aaron’s in the applicable loan Funding Approval Notice. 

 “Lien” means any interest in property securing an obligation, whether such
interest is based on the common law, statute or contract, including, without limitation, a security interest, lien or security title arising from a security agreement, mortgage, security deed, trust deed, pledge, hypothec or conditional sale, or a
lease, consignment or bailment for security purposes. 
 “Line of Credit Commitment” means the committed line of credit
facility established by Bank in favor of Borrower in the amount set forth in the Line of Credit Note and upon the terms described in this Agreement. 

“Line of Credit Loan” means a loan or an advance made by Bank to Borrower under its Line of Credit Commitment. 

“Line of Credit Note” means a note executed by Borrower in favor of Bank, substantially in the form of Exhibit A-1
attached hereto in the committed principal amount of Bank’s Line of Credit Commitment evidencing the obligation of Borrower to repay its Line of Credit Loans. 

“Loan Account” means the internal bank loan account established by Bank for Borrower. 

“Loan Documents” means this Agreement, the Notes, the Collateral Agreements, any other documents relating to the Loans
delivered by Borrower or any guarantor or surety thereof to Bank and any amendments thereto. 
 “Loan Indebtedness” means
all amounts due and payable by Borrower under the terms of the Loan Documents with respect to the Loans made thereunder, including, without limitation, outstanding principal, accrued interest, any late charges, and all reasonable costs and expenses
of any legal proceeding brought by Bank to collect any of the foregoing (including without limitation, reasonable legal or attorneys’ fees). 

“Loans” means the Line of Credit Loans, Revolving Loans or Term Loan. 

“Loan Term” shall have the meaning set forth in Section 2.6(i) hereof. 

“Material Adverse Effect” means any materially adverse change in (i) the business, results of operations, financial
condition, assets or prospects of Borrower, taken as a whole, (ii) the ability of Borrower to perform its obligations under this Agreement, or (iii) the ability of the Guarantors (taken as a whole) to perform their respective obligations
under the Guaranty. 
 “Maturity Date” means for (i) ) the Revolving Commitment, the date set forth in the Revolving
Note, as it may be extended in accordance with the provisions of Section 2.8, (ii) the Term Loan, the date set forth in the Term Note and (iii) the Line of Credit Commitment, the date set forth in the Line of Credit Note. 

“Merchandise” means goods distributed or sold to Borrower through Aaron. 

“Net Book Value” means, for any item of Merchandise, the cost of such Merchandise less accumulated depreciation as calculated
in accordance with the Aaron’s Proprietary System. 
 “Note” means the Line of Credit Note, the Revolving Note or the
Term Note, as the case may be. 
 “Opening Date” means with respect to each store location, the date determined by Aaron to
be the opening date of such location in accordance with its standard practice, as notified to Bank. 

 “PAD Authorization” means a pre-authorized debit authorization executed by
Borrower authorizing Bank to cause a specified account of Borrower to be debited to pay amounts payable hereunder, such authorization to be in the form attached hereto as Exhibit F or such other form as Bank may require from time to
time. 
 “Patriot Act” shall mean the USA PATRIOT Improvement and Reauthorization Act of 2005 (Pub. L. 109-177 (signed into
law March 9, 2006)), as amended and in effect from time to time. 
 “Payment Date” means the last day of each calendar
month; provided, however, if such day is not a Business Day, the next succeeding Business Day which is also a US Business Day. 

“Permitted Liens” means Liens in favor of Bank or Aaron; Liens for taxes not yet due or payable; statutory Liens securing the
claims of materialmen, mechanics, carriers and landlords for labor, materials, supplies or leases incurred in the ordinary course of Borrower’s business, but only if payment thereof is not at the time required and such Liens are at all times
junior in priority to the Liens in favor of Bank; Liens shown on Exhibit B attached hereto (if any); and Liens hereafter consented to by Bank in writing. 

“Person” means a corporation, an association, partnership, an organization, a business, a business trust, a limited liability
company, an individual, a government or political subdivision thereof or a governmental agency. 
 “Personal PAD” shall
have the meaning set forth in the Pre-Authorized Debit Rules. 
 “PPSA” means the Personal Property Security Act as in
effect from time to time in the Province of Ontario. 
 “Pre-Authorized Debit Rules” means Rule H-1 of the Canadian
Payments Association, as the same may be amended, modified, supplemented, restated, re-enacted or replaced from time to time. 

“Prime Rate” means, on any date of determination, the higher of (a) the reference rate of interest, expressed as an
annual rate, publicly announced or posted from time to time by Bloomberg on page BTMM for Canadian Money Market rates or (b) the average one month Bankers’ Acceptance rate quoted on Reuters Service, page CDOR, as at approximately 10:00
a.m. (Toronto, Ontario time) on such day plus 1% per annum. 
 “Quarterly Covenant Compliance Report” means that
Quarterly Covenant Compliance Report substantially in the form of Exhibit D attached hereto. 
 “Rental
Revenue” means, for any period, the gross revenues of Borrower from leases to the public of Borrower’s furniture inventory, computers, electronics, appliances and lease equipment including, without limitation, all customer deposits,
advance lease payments, waiver fees, late fees, delivery fees, nonsufficient fund fees and reinstatement fees, but excluding all retail sales proceeds, goods and services tax, harmonized sales tax or provincial sales taxes. 

“Revolving Commitment” means the committed revolving facility established by the Bank in favor of Borrower in the amount set
forth in the Revolving Note and upon the terms described in this Agreement. 
 “Revolving Loan” means a loan or an advance
made by the Bank to the Borrower under its Revolving Commitment. 

 “Revolving Note” means a note executed by Borrower in favor of Bank,
substantially in the form of Exhibit A-3 attached hereto, in the committed principal amount of the Bank’s Revolving Commitment evidencing the obligation of the Borrower to repay its Revolving Loans. 

“Sanctioned Country” shall mean, at any time, a country or territory that is, or whose government is, the subject or target
of any Sanctions. 
 “Sanctioned Person” shall mean, at any time, (a) any Person listed in any Sanctions-related list
of designated Persons maintained by OFAC, the U.S. Department of State, the United Nations Security Council, the European Union or any EU member state, (b) any Person located, organized or resident in a Sanctioned Country or (c) any Person
controlled by any such Person. 
 “Sanctions” shall mean economic or financial sanctions or trade embargoes administered or
enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United
Kingdom. 
 “Security Agreement” means a security agreement made by Borrower in favour of Bank substantially in the form
attached hereto as Exhibit E attached hereto. 
 “Set Interval” shall have the meaning set forth in the
Pre-Authorized Debit Rules. 
 “Solvent” means, as to any Person, such Person (i) is able to pay, and does pay, its
debts as they mature and (ii) has a positive tangible net worth determined in accordance with GAAP. 
 “Sporadic”
shall have the meaning set forth in the Pre-Authorized Debit Rules. 
 “Spousal Consent” means any agreement provided by
the spouse of any Person executing a Guaranty to the extent such spouse has not personally executed a Guaranty, to be substantially in the form provided by Bank. 

“Subsidiary” means any corporation or other entity of which securities or other ownership interests having ordinary voting
power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by Borrower. 

“SWIFT” means Society for Worldwide Interbank Financial Telecommunication. 

“Term Loan” means a single loan made by Bank to Borrower in an amount not to exceed the Term Loan Commitment. 

“Term Loan Commitment” means the obligation of Bank to make a Term Loan in favor of Borrower in the amount set forth in the
Term Note and upon the terms described in this Agreement. 
 “Term Note” means a note executed by Borrower in favor of
Bank, substantially in the form of Exhibit A-2 attached hereto in the committed principal amount of Bank’s Term Loan Commitment evidencing the obligation of Borrower to repay its Term Loan. 

“US Business Day” means any day other than a Saturday, Sunday or a day on which commercial banks in Atlanta, Georgia are
authorized by law to close. 

 1.2 Accounting Terms and Determination. Accounting terms used in this Agreement such as
“amortization,” “depreciation,” “interest expense,” and “tangible net worth” shall have the meaning normally given them by, and shall be calculated (both as to amounts and classification of items) in
accordance with, GAAP. Any pronoun used herein shall be deemed to cover all genders. All references to statutes and related regulations shall include any amendments of same and any successor statutes and regulations, and all references to any
instruments or agreements, including, without limitation, references to any of the Loan Documents, shall include any and all modifications or amendments thereto and any and all extensions or renewals thereof. 

1.3 Interest Calculation and Payments. Unless otherwise stated, wherever in this Agreement reference is made to a rate of interest
“per annum” or a similar expression is used, such interest will be calculated on the basis of a calendar year of 360 days, as the case may be, and using the nominal rate method of calculation and not the effective rate method of
calculation or on any other basis that gives effect to the principle of deemed reinvestment of interest. Interest will continue to accrue after maturity and default and/or judgment, if any, until payment thereof, and interest will accrue on overdue
interest, if any. 
 1.4 Interest Act (Canada). For the purposes of this Agreement, whenever interest to be paid hereunder is to be
calculated on the basis of 360 days or any other period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual
number of days in the calendar year in which the same is to be ascertained and divided by 360 or such other number of days in such period, as the case may be. 

1.5 Currency. All references herein to currency or to $ are to lawful currency of Canada. 

 

	 	2.	LOAN; USE OF PROCEEDS. 

 2.1 Establishment of FCTA; Loan Account. 

(i) Prior to the Closing Date, Bank shall (unless the Borrower has only a Term Loan) establish a FCTA for Borrower. 

(ii) Prior to the Closing Date, Bank shall also establish on its books an internal loan account in Borrower’s name (the “Loan
Account”) in which Bank shall record, in accordance with customary accounting practice, all charges, expenses and other items properly chargeable to Borrower; all payments made by Borrower on account of indebtedness evidenced by the Loan
Account; all proceeds of Collateral which are finally paid to Bank at its office in cash or solvent credits; and other appropriate debits and credits. The debit balance of the Loan Account shall reflect the amount of Borrower’s Loan
Indebtedness from time to time by reason of the Loans and other appropriate charges hereunder. At least once each month, Bank shall render a statement of account for the Loan Account, which statement shall be considered correct, and accepted by and
conclusively binding upon Borrower, unless Borrower notifies Bank to the contrary within thirty (30) days after Bank’s sending of said statement to Borrower. 

2.2 Establishment of Line of Credit Loan. Any Line of Credit Commitment now or hereafter committed to by Bank pursuant to which
Borrower shall execute and deliver to Bank a Line of Credit Note shall be governed by and issued pursuant to the provisions, terms and conditions set forth herein. 

 2.3 Line of Credit Advances. 

(i) Upon Borrower’s execution of this Agreement and a Line of Credit Note and compliance with the terms of this Agreement, and subject to
Bank’s confirmation if requested by Aaron that Bank has a first priority security interest in the Collateral, Bank shall notify Borrower that Borrower may request Advances pursuant to the Line of Credit Commitment. Bank shall make such Advances
into the FCTA (or, with the written consent of Aaron, such other account for which wiring instructions have been provided to Bank) for the sole purposes of (x) honoring requests from Borrower, made through Aaron by fax, email or other
electronic form of notification to Aaron by 12:00 noon (Atlanta, Georgia time) on the last Business Day immediately prior to the 10th or the
25th day of each month, for SWIFT transfers to suppliers of Merchandise in payment of Approved Invoices, and (y) honoring requests from Borrower for Advances made via wire transfers (or such
other method approved in writing by Aaron and acceptable to Bank) to the FCTA (or, with the written consent of Aaron, such other account of Borrower or of a third party for which wiring instructions have been provided to Bank) for working capital
and for any other lawful purposes, in each case, to the extent approved in writing by Aaron. Borrower shall not use the FCTA for any other purpose. The maximum principal amount of Advances under the Line of Credit Commitment at any time outstanding
shall not exceed the committed amount of the Line of Credit Commitment. Each Advance shall be in the amount of not less than $500. 
 (ii)
Borrower shall submit purchase order requests for Merchandise to Aaron from time to time. In the event that the purchase order is authorized pursuant to the Franchise Agreement, Aaron will prepare the purchase order and submit the same to the
appropriate supplier requested by Borrower. The supplier will be instructed to ship all Merchandise directly to Borrower and Borrower will be responsible for (a) inspecting all Merchandise and resolving all disputes regarding the Merchandise
with such supplier and (b) paying all freight and other shipping and/or insurance charges arising in connection therewith with funds other than the proceeds of Loans, unless otherwise agreed by Aaron. The supplier will invoice Borrower for such
Merchandise in accordance with normal industry practice. When Borrower wishes to pay such invoice, Borrower, subject to availability of the Line of Credit Commitment and the minimum borrowing threshold, shall pay such invoice by requesting, by way
of fax, email or other electronic form of notification by 12:00 noon (Atlanta, Georgia time) on the last Business Day immediately prior to the 10th or the 25th day of each month, that Aaron direct Bank to pay such invoice by initiating a SWIFT transfer from Borrower’s FCTA to the applicable vendor and Bank shall be entitled to rely on such request
from Aaron as if it had been made directly by Borrower. Any directions for SWIFT transfers transmitted by Aaron to Bank prior to 12:00 noon (Atlanta, Georgia time) on the Business Day immediately preceding the 10th or the 25th day of a month, shall be paid by Bank no later than the next Business Day thereafter, unless Borrower is otherwise notified by Aaron
or Bank. 
 (iii) Upon receipt of the request for an SWIFT transfer (provided, however, that such request relates to an
Approved Invoice), Bank shall honor such request by making an Advance pursuant to the Line of Credit Commitment in the amount of such request into Borrower’s FCTA and forwarding such amount to the supplier by means of a SWIFT transfer in
accordance with the instructions of Borrower. Upon receipt of any request to deposit funds into another account in the name of Borrower or to an account of a third party, upon receipt of Aaron’s written approval thereof, Bank shall honor such
request by making an Advance pursuant to the Line of Credit Commitment in the amount of such request into Borrower’s FCTA and automatically forwarding such amount to such account of Borrower (or such other approved account) by means of an SWIFT
transfer (or such other method approved in writing by Aaron and acceptable to Bank) in accordance with the instructions of Borrower. In the event that a request for a SWIFT transfer (or other method of transfer approved in writing by Aaron and
acceptable to Bank) is presented for payment and Borrower’s availability pursuant to the Line of Credit Commitment is insufficient to honor such request, Bank may, but shall have no obligation to, make such overadvance, which shall be an
Advance for all purposes hereunder, but shall be due and payable upon demand. At the end of each calendar month, Bank shall provide Borrower with a monthly FCTA statement in the form customarily used by Bank for its commercial customers and a loan
account statement. 
 (iv) The aggregate amount of Advances made to Borrower during such month shall be amortized into twenty-four
(24) equal payments of principal due and payable on the next succeeding Payment Dates; provided, however, that, in the event that Bank terminates the Line of Credit Commitment as provided in Section 2.6 below, all outstanding
amounts shall be due and payable on the 24th Payment Date following such termination. 

 2.4 Establishment of Revolving Loan. Any Revolving Commitment now or hereafter committed
to by Bank pursuant to which Borrower shall execute and deliver to Bank a Revolving Note shall be governed by and issued pursuant to the provisions, terms and conditions set forth herein. 

2.5 Revolving Advances. 

(i) Upon Borrower’s execution of this Agreement and a Revolving Note and compliance with the terms of this Agreement and subject to
Bank’s confirmation if requested by Aaron that Bank has a first priority security interest in the Collateral, Bank shall notify Borrower that Borrower may request Advances pursuant to the Revolving Commitment. Bank shall make such Advances into
the FCTA for the sole purpose of honoring requests from Borrower, made through Aaron by fax, email or other electronic form of notification to Aaron by 12:00 noon (Atlanta, Georgia time) on the Business Day immediately preceding the 10th or the 25th
day of each month, to purchase inventory or, to the extent permitted, by Aaron, for any other purpose. Borrower shall not use the FCTA for any purpose other than as contemplated by this Agreement. The maximum principal amount of Advances under the
Revolving Commitment at any time outstanding shall not exceed the lesser of (A) the committed amount of the Revolving Commitment and (B) (1) the Borrowing Base, as most recently reported by Aaron to Bank pursuant to
Section 2.5(iv) hereof minus (2) the outstanding principal amount of the Term Loan (such lesser amount herein referred to as the “Revolver Availability”). Each Advance shall be in the amount of not less than $500. 

(ii) Borrower shall submit purchase order requests for Merchandise to Aaron from time to time. In the event that the purchase order is
authorized pursuant to the Franchise Agreement, Aaron will prepare the purchase order and submit the same to the appropriate supplier requested by Borrower. The supplier will be instructed to ship all Merchandise directly to Borrower and Borrower
will be responsible for (a) inspecting all Merchandise and resolving all disputes regarding the Merchandise with such supplier and (b) paying all freight and other shipping and/or insurance charges arising in connection therewith with
funds other than the proceeds of Loans, unless otherwise agreed by Aaron. The supplier will invoice Borrower for such Merchandise in accordance with normal industry practice. When Borrower wishes to pay such invoice by Advance pursuant to the
Revolving Commitment, Borrower, subject to the Revolver Availability, shall pay such invoice by requesting, through fax, email or other electronic form of notification, that Aaron direct Bank to pay such invoice by initiating a SWIFT transfer from
Borrower’s FCTA to the applicable vendor and Bank shall be entitled to rely on such request from Aaron as if it had been made directly by Borrower. Any directions for such SWIFT transfers transmitted by Aaron to Bank prior to 12:00 noon
(Atlanta, Georgia time) on any Business Day immediately preceding the 10th or the 25th day of any month, shall be paid by the Bank no later than the next Business Day thereafter, unless Borrower is otherwise notified by Aaron or the Bank. 

(iii) Upon receipt of the request for a SWIFT transfer (provided, however, that such request relates to an Approved Invoice), the Bank shall
honor such request by making an Advance pursuant to the Revolving Commitment in the amount of such request into Borrower’s FCTA and automatically forwarding such amount to the supplier by means of a SWIFT transfer in accordance with the
instructions 

 
of Borrower. Upon receipt of any request to deposit funds in another account in the name of Borrower or to an account of a third party, and receipt of Aaron’s written approval thereof, Bank
shall honor such request by making an Advance pursuant to the Revolving Commitment in the amount of such request into Borrower’s FCTA and automatically forwarding such amount to such account of Borrower (or such other approved account) by means
of a SWIFT transfer (or such other method approved in writing by Aaron and acceptable to Bank) in accordance with the instructions of Borrower. In the event that a request for a SWIFT transfer (or other method of transfer approved in writing by
Aaron and acceptable to Bank) is presented for payment and Borrower’s availability pursuant to the Revolving Commitment is insufficient to honor such request, Bank may, but shall have no obligation to, make such overadvance, which shall be an
Advance for all purposes hereunder, but shall be due and payable upon demand. At the end of each calendar month, Bank shall provide Borrower with a monthly FCTA statement in the form customarily used by Bank for its commercial customers and a loan
account statement. 
 (iv) On the fifth Business Day of each month, for a Borrower with a Revolving Loan (as determined on the last day of
the preceding calendar month), Aaron shall calculate the Borrowing Base and report the same to Bank in writing (the “Borrowing Base Report”), and Bank shall be entitled to rely conclusively upon such information. Upon receipt of the
Borrowing Base Report, Bank shall input such information into Bank’s loan records to be effective as of the date which is two Business Days after receipt of such information. On the 15th day of each calendar month, Bank shall mail to Borrower a
bill setting forth the total amount of principal (to the extent that the Revolving Availability is less than zero) and interest due on the next Payment Date which bill shall be considered correct, and accepted by and conclusively binding upon
Borrower, unless Borrower notifies Bank to the contrary within thirty (30) days after Bank’s sending of said bill to Borrower. In addition, Bank, on the date which is two Business Days after receipt of the Borrowing Base Report from Aaron,
shall notify Borrower in writing (including facsimile) of the new Borrowing Base for Borrower and shall require that Borrower repay on the next Payment Date any additional Advances made since the date of the preparation of the statement for such
Payment Date if necessary to avoid any overadvance as of such date and such amount (in addition to any amounts set forth in the bill to Borrower) shall be due and payable on the next Payment Date. 

2.6 Term Loan. Any Term Loan Commitment now or hereafter committed to by Bank pursuant to which Borrower shall execute and deliver to
Bank a Term Note shall be governed by and issued pursuant to the provisions, terms and conditions set forth herein. Upon Borrower’s execution of this Agreement and a Term Note and compliance with the terms of this Agreement and subject to
Bank’s confirmation if requested by Aaron that Bank has a first priority security interest in the Collateral, Bank may make a Term Loan to Borrower in a principal amount not to exceed the Term Loan Commitment; provided, however,
that if for any reason the full amount of Bank’s Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be cancelled. 

2.7 Repayment. 
 (i)
Line of Credit Loans. Payments of principal for Line of Credit Loans shall be due and payable by Borrower to Bank on each Payment Date and subject to the provisions of Section 2.10(ii) below, on the Maturity Date for the Line of Credit
Commitment, unless sooner accelerated in accordance with the terms hereof. 
 (ii) Revolving Loans. Payments of principal for
Revolving Loans shall be due and payable by Borrower to Bank, subject to the provisions of Section 2.10(ii) below, on the Maturity Date for the Revolving Commitment, unless sooner accelerated in accordance with the terms hereof. 

(iii) Term Loans. Payments of principal for Term Loans shall be due and payable by Borrower to Bank in installments payable on the
dates set forth in the Term Note, provided, however, that, to the extent not previously paid, the aggregate unpaid principal balance of the Term Loans shall be due and payable on the Maturity Date for the Term Loan. 

(iii) Except as provided below, all payments of principal of, or interest on, the Loans (including Asset Disposition Prepayments) and all
other sums due under the terms of the Loan Documents at Set Intervals shall be made by way of pre-authorized debit from an account at a financial institution in Canada specified by Borrower. All voluntary prepayments of the Loan shall be made to
Bank at the Lender’s Account by way of SWIFT transfer of immediately available funds or by pre-authorized debit from an account at a financial institution in Canada specified by Borrower. 

 2.8 Loan Term; Voluntary Termination. 

(i) The original term of the Line of Credit Commitment shall be for a period of 364 days from the Closing Date (the “Loan
Term”). Thereafter, the Loan Term shall automatically be extended on each anniversary of the Closing Date for an additional 364 day period unless either party terminates the Line of Credit Commitment as set forth hereunder. Upon ninety
(90) days prior written notice to Borrower, Bank may, at its option, terminate the Line of Credit Commitment. Upon written notice to Bank, Borrower may, at its option, terminate the Line of Credit Commitment. Bank may also terminate the Line of
Credit Commitment pursuant to Section 10 hereof. Upon the effective date of a termination of the Line of Credit Commitment effected by Borrower, the principal of and all accrued but unpaid interest on the Loan Indebtedness in respect of the
Line of Credit Loans shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and Bank’s security interest in the Collateral, shall
continue in full force and effect until all of the Loan Indebtedness in respect of the Line of Credit Loans is fully and finally paid. In the event Bank elects to terminate, (a) Bank shall continue to make Advances until the effective date of
the termination and (b) Advances outstanding at the effective date of the termination shall be repaid according to the twenty-four (24) month amortization schedule provided above, provided, however, that, notwithstanding the
foregoing all outstanding Loan Indebtedness in respect of the Line of Credit Loans shall be due and payable in full on the 24th Payment Date following termination of the Line of Credit Commitment
by Bank. Nothing set forth in this Section 2.8(i) shall be deemed to limit the ability of Bank to declare all amounts outstanding under the Line of Credit Note immediately due and payable upon the occurrence of an Event of Default hereunder as
provided herein. 
 (ii) The original term of the Revolving Commitment shall terminate on the Maturity Date, subject to Section 10
hereof, which may be extended from time to time in the sole discretion of the Bank for an additional period up to 364 days (the “Extended Loan Term”) by written notice from Bank to Borrower, unless either party terminates the Loan as set
forth hereunder. The Bank may, at its option, terminate the Revolving Commitment, which termination will occur on the then-current Maturity Date without further notice or action by the Bank. Upon the termination of the Revolving Commitment, the
principal of and all accrued but unpaid interest on the Loan Indebtedness shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and
Bank’s security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness is fully and finally paid. 

(iii) The Term Loan shall terminate on the Maturity Date for the Term Loan set forth in the Term Note, as the case may be, which date shall be
no more than two years from the Closing Date, subject to Section 10 hereof. Upon the termination of the Term Loan, the principal of and all accrued but unpaid interest on the Loan Indebtedness in respect of the Term Loan shall be forthwith due
and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and Bank’s security interest in the Collateral, shall continue in full force and effect until all of
such Loan Indebtedness is fully and finally paid. 

 2.9 Interest. 

(i) From and after the date hereof, interest shall accrue on the unpaid principal amount of the Loan Indebtedness at the Floating Rate.
Interest shall be calculated daily and shall be computed on the basis of actual days elapsed over the period of a 360 day year. Interest shall be payable in arrears on each Payment Date and on the Maturity Date, whether due to acceleration or
otherwise. Any principal balance outstanding pursuant to a Loan not paid when due shall bear interest at a rate of interest per annum equal to the Default Rate, such interest to be payable upon demand. After the occurrence of an Event of Default and
during the continuance thereof, the outstanding principal balance of the Loans shall bear interest at the Default Rate, which shall be payable on demand. 

(ii) In no contingency or event whatsoever shall the amount paid or agreed to be paid to Bank for the use, forbearance or detention of money
advanced under this Agreement exceed the highest lawful rate permissible under Applicable Law. It is the intent hereof that Borrower will not pay or contract to pay, and that Bank not receive or contract to receive, directly or indirectly in any
manner whatsoever, interest in excess of that which may be charged to and paid by Borrower under Applicable Law. All interest (and charges deemed interest) paid or agreed to be paid to Bank shall, to the extent permitted by Applicable Law, be
amortized, pro rated, allocated and spread in equal parts throughout the full term hereof until payment in full of the principal amount of the Loan Indebtedness owing hereunder (including the period of any renewal or extension hereof) so that
interest on the principal amount of the Loan Indebtedness outstanding hereunder for such full period will not exceed the maximum amount permitted by Applicable Law. 

2.10 Loan Prepayment. 

(i) Voluntary Prepayment. Borrower shall have the right to prepay the Loans in whole or in part on any Payment Date, but subject to
Borrower having provided at least two (2) Business Days’ prior written notice to Bank. Partial prepayments of any Line of Credit Loan (other than proceeds of Asset Dispositions which shall be applied as set forth in the following
Section 2.10(ii)) shall be applied to reduce the current month’s Advance(s) to such Borrower with any excess prepayment applied to unpaid principal payments of the Loan as Aaron and the Bank may mutually agree (which may include, but is
not limited to, application of such excess prepayment to unpaid principal payments of the Loan in inverse order of maturity or on a pro rata basis). 

(ii) Mandatory Prepayment. For the Line of Credit Loan, mandatory prepayment shall be required for Asset Dispositions. For the
Revolving Loan, on any Payment Date on which the aggregate outstanding principal amount of the Revolving Loan exceeds the lesser of (x) the Revolving Commitment or (y) (1) the Borrowing Base, as most recently reported to Borrower by
Bank pursuant to Section 2.7(iv) hereof minus (2) the outstanding principal balance of the Term Loan, Borrower shall prepay the Revolving Loans in the amount of such overadvance, as notified to Borrower by Bank. 

 2.11 Audits. Borrower hereby consents and authorizes Aaron or Bank or any agent or
representative thereof to conduct periodic field audits of Borrower. Such field audits may include, without limitation, examinations of the payment receipts, tax returns, bank statements, loan statements, Lease Contracts, inventory on hand,
computer-generated reports of Asset Dispositions, Rental Revenue and other financial data necessary to determine the accuracy and validity of the reports, compliance certificates, financial reports and other information forwarded to either of Bank
or Aaron by Borrower in connection with the Loan. 
 2.12 Tracking of Merchandise; Asset Dispositions. 

(i) All Merchandise financed by Bank must be serialized by means of the Aaron’s Proprietary System for appropriate reconciliation of
Advances and receipt of Merchandise and for purposes of tracking Asset Dispositions, if applicable. Borrower shall be obligated to furnish serial numbers for all Merchandise purchased directly to Aaron on a weekly basis (and, if available, on a
daily basis) by transmittal of Borrower’s receiving report (containing Aaron’s Proprietary System numbers) directly to Aaron on the Aaron’s Proprietary System. As set forth more fully below, Aaron will maintain and track such
information as agent for Bank and Bank shall at all times have access to such information. 
 (ii) If Borrower has a Line of Credit Note and
an Asset Disposition occurs, Borrower shall immediately report such Asset Disposition to Aaron by means of the Aaron’s Proprietary System, such information to include the Aaron’s Proprietary System numbers, and if assigned, the serial
numbers of the Merchandise subject to the Asset Disposition, the Net Book Value of such Merchandise and the proceeds received by Borrower therefrom. Aaron, on a monthly basis, shall transmit all such information to Bank in a summary form. Based
solely on such information provided by Aaron, Bank will notify Borrower on a monthly basis, of the amount of the required prepayment (the “Asset Disposition Prepayment”) of the aggregate outstanding amount of the Line of Credit Loan
due on the next Payment Date which amount shall be equal to the Net Book Value of the Asset Dispositions during the preceding month not applied to Advances made during such month as set forth above, unless otherwise agreed to by Bank. Borrower shall
be notified by Bank by the Business Day next following the 25th day of each calendar month of the Asset Disposition Prepayment and payment thereof shall be due on the next succeeding Payment Date.

 2.13 Closing Fee. On the Closing Date of each Loan, Borrower shall pay to Bank a closing fee (“Closing Fee”) in
the amount of $500 per store location [plus $5,000]2. 
 2.14 Commitment
Fees. 
 (i) Borrower shall pay a commitment fee (the “Commitment Fee”) on any unused portion of the Line of Credit
Commitment and the Revolving Commitment in the amount of     % per annum, such Commitment Fee to be paid quarterly in arrears on every third Payment Date, commencing on the third Payment Date after the Closing Date. 

(ii) All Commitment Fees shall be paid on the dates due, in immediately available funds, to Bank. 

 

	2 	Note: in the case of an Borrower with a Term Loan Commitment that has customized financial covenants as specified by Sponsor in accordance with Section 6 hereof, an additional $5,000 fee will be charged.

 2.15 Delinquent Payment Fees. In the event that any payment due and payable hereunder is
not received by Bank on the Payment Date when due (including, without limitation, any payment not received as a result of the dishonour of a pre-authorized debit or a return of a pre-authorized debit initiated by Borrower), Borrower shall, upon
request from Bank, pay to Bank a delinquent payment fee (the “Delinquent Payment Fee”) in an amount equal to the greater of (i) one percent (1%) of the amount of the late payment and (ii) $500.00. 

 

	 	3.	COLLATERAL AND INSURANCE. 

 3.1 Granting of Security Interest in
Collateral. As security for the payment and performance of all of the Loan Indebtedness, Borrower shall enter into the Security Agreement and grant Bank thereunder a continuing security interest in its Collateral. The Loan Indebtedness shall
also be secured by any other property (whether real or personal) in which Borrower may have heretofore or concurrently herewith granted, or may hereafter grant, a Lien in favor of Bank. 

3.2 Form of Lease Contracts. All Lease Contracts will be (i) in a form prescribed by Aaron for use by its franchisees,
(ii) be transferable to Bank and (iii) contain the following provision directly above Borrower’s customer’s signature: 

“NOTWITHSTANDING ANYTHING SET FORTH IN THIS AGREEMENT TO THE CONTRARY, THE UNDERSIGNED ACKNOWLEDGES AND CONSENTS TO THE TRANSFER OF, OR
GRANT OF A SECURITY INTEREST IN, ANY OR ALL OF THE LESSOR’S RIGHT, TITLE AND INTEREST (RESIDUAL OR OTHERWISE) IN AND UNDER THIS AGREEMENT TO ANY THIRD PARTY. NO SUCH TRANSFER OR GRANT OF SECURITY INTEREST WILL: (A) AFFECT THE
UNDERSIGNED’S LOAN INDEBTEDNESS; (B) CHANGE ANY DUTIES OF, OR INCREASE ANY BURDENS OR RISKS IMPOSED ON, THE PARTIES TO THIS AGREEMENT; NO ENFORCEMENT OF ANY SECURITY INTEREST WILL CONSTITUTE A TRANSFER THAT CHANGES ANY DUTIES OF, OR
INCREASES ANY BURDENS OR RISK IMPOSED ON, THE PARTIES TO THIS AGREEMENT.” 
 Immediately upon execution of the same, all Lease Contracts shall be
hereby assigned to Bank, and, immediately upon Bank’s request, delivered to Bank together with any and all related documents, and will contain, by way of a stamp or as a part of the preprinted lease contract, the following legend directly below
Borrower’s customer’s signature: 
 “FOR VALUE RECEIVED, THIS AGREEMENT HAS BEEN ASSIGNED TO SUNTRUST BANK AND THERE ARE NO
DEFENSES AGAINST THE ASSIGNEE.” 
 Borrower will not assign, sell, pledge, convey or by any other means transfer to any person other than Bank any
Lease Contracts or Chattel Paper, without Bank’s prior written consent. 
 3.3 Other Documents. Borrower shall execute and
deliver, or shall be caused to be executed and delivered, to Bank such other instruments, agreements, assignments, notifications or other documents relating to the Collateral as Bank may from time to time request in order to evidence, perfect or
continue the perfection of Bank’s Liens upon any of the Collateral. 
 3.4 Insurance. Borrower shall maintain and keep in force
insurance of the types and in the amounts customarily carried in lines of business similar to Borrower’s and such other insurance as Bank may require, including, without limitation, theft, fire, public liability, business interruption,
casualty, 

 
property damage, and worker’s compensation insurance, which insurance shall be carried with companies and in amounts satisfactory to Bank. All casualty and property damage insurance shall
name Bank as mortgagee, sole loss payee, or additional insured, as appropriate. Borrower shall deliver to Bank from time to time, at Bank’s request, copies of all such insurance policies and certificates of insurance and schedules setting forth
all insurance then in effect. Each policy of insurance shall contain a clause requiring the insurer to give not less than thirty (30) days’ prior written notice to Bank in the event of any lapse, termination or cancellation of the policy
for any reason whatsoever and a clause that the interest of Bank shall not be impaired or invalidated by any act or neglect of Borrower or owner of the property nor by the occupation of the premises for purposes more hazardous than are permitted by
said policy. All such insurance policies shall contain such other provisions as Bank may require in order to protect Bank’s Lien in the collateral and Bank’s right to receive payments under such policies. Borrower hereby appoints Bank as
attorney in fact for Borrower to file claims under any insurance policies, to receive, receipt and give acquittance for any payments that may be payable to Borrower thereunder, and to execute any and all endorsements, receipts, releases,
assignments, reassignments, or other documents that may be necessary to effect the collection, compromise or settlement of any claims under any such insurance policies, which power of attorney shall be deemed coupled with an interest and irrevocable
so long as Bank shall have a Lien in any of the Collateral pursuant to this Agreement. If Borrower shall fail to procure such insurance or to pay any premium with respect thereto, then Bank may, at its discretion, procure such insurance or pay such
premium and any costs so incurred by Bank shall constitute a part of the Loan Indebtedness. Bank may apply the proceeds of any insurance policy received by Bank to the payment of any liabilities, whether or not due, in such order of application as
Bank shall determine. Borrower shall promptly furnish Bank with certificates or other evidence satisfactory to Bank indicating compliance with the foregoing insurance requirements. 

3.5 Validation and Collection of Accounts. Whether or not a Default Condition or an Event of Default has occurred, Bank shall have the
right, at any time or times hereafter, in the name of Bank or any designee of Bank to verify the validity, amount or any other matter relating to any Accounts by mail, telephone or otherwise, and Borrower shall fully cooperate with Bank in an effort
to facilitate and promptly conclude any such verification process. Unless Bank shall at any time following the occurrence of an Event of Default, elect to give notice to Account Debtors to make payments on the Accounts directly to Bank, Borrower
shall endeavor in the first instance to make collection of its Accounts for Bank. Borrower shall at the request of Bank notify the Account Debtors of the security interest of Bank in any Account and Bank may itself at any time so notify Account
Debtors. Upon or after the occurrence of an Event of Default, Borrower shall (if and to the extent requested to do so by Bank) notify the Account Debtors to make all payments owing to Borrower directly to Bank for application to the Loan
Indebtedness. 
 3.6 Maintenance of Collateral. Borrower shall maintain all Inventory and Equipment in good condition, reasonable
wear and tear excepted in the case of Equipment, and shall, as and when requested by Bank, provide Bank with a list of all of the Equipment and evidence of ownership thereof. Borrower shall not permit any of the Equipment to become affixed to any
real property so that such Equipment is deemed a fixture under the real estate laws of the applicable jurisdiction. 
 3.7 Expenses
Relating to Collateral. Borrower shall pay Bank on demand an amount equal to any and all expenses, including legal fees, incurred or paid by Bank in connection with Bank’s insuring, maintaining, protecting, storing, safeguarding, or paying
Liens with respect to any of the Collateral or otherwise discharging any duty or obligation of Borrower with respect to any of the Collateral. 

3.8 Rights to Collateral. Bank shall have no duty to collect, protect or preserve the underlying value of any Collateral or any income
thereon or to preserve any rights against prior parties. Bank may exercise its rights and remedies with respect to the Collateral without first resorting (and without regard) to any other security for the Loans or other sources of payment or
reimbursement for the Loan Indebtedness. 

	 	4.	CONDITIONS PRECEDENT. 

 Borrower shall deliver and Bank shall have received the following
documents, each in form and substance satisfactory to Bank, as conditions precedent of the Loans: 
 (i) a validly executed copy of this
Agreement and the Security Agreement; 
 (ii) the validly executed Notes; 

(iii) a validly executed copy of a Guaranty of each partner or majority stockholder of Borrower, and to the extent not prohibited by
Applicable Law, the spouse of such Person together, in the case of the spouse, a certificate of independent legal advice with respect to the spouse’s execution of such Guaranty; provided, however, that if such spouse is not
providing a Guaranty, a validly executed copy of the Spousal Consent; 
 (iv) [Reserved.]; 

(v) a validly executed PAD Authorization in the form attached hereto as Exhibit F, authorizing Bank to debit Borrower’s bank
account at a Canadian financial institution specified therein for payments due hereunder at Set Intervals, including without limitation, Asset Disposition Prepayments and mandatory prepayments of the Loans pursuant to Section 2.8(ii); 

(vi) a validly executed subordination agreement, in form and substance satisfactory to Bank, from each other debtholder of Borrower; 

(vii) evidence of Borrower’s good standing; 

(viii) a validly executed officer’s certificate or such other evidence acceptable to Bank evidencing Borrower’s corporate,
partnership or other necessary authorization of the Loans and incumbency; 
 (ix) a certificate of insurance from an insurer acceptable to
Bank evidencing Borrower’s compliance with Section 3.4 hereof and naming Bank as loss payee/additional insured as follows: 

Aaron’s Program Manager 

SunTrust Bank 
 Program Lending 

303 Peachtree Street, N.E. 
 2nd
Floor 
 Mail Code 1802 
 Atlanta,
Georgia 30308 
 (x) a validly executed authorization in favour of Aaron, authorizing Aaron to initiate SWIFT transfers from the FCTA to pay
vendors in accordance with Section 2.3(ii); and 
 (xi) valid Personal Property Security Act financing statements suitable for filing
to enable Bank to perfect the security interest granted to it under this Agreement. 

 In addition, (x) Bank shall have satisfied itself that (i) all necessary steps have been taken and all
necessary registrations have been made to perfect Bank’s security interest in the Collateral, and (ii) there are no Liens on any of the Collateral, and Bank shall be satisfied that all corporate or partnership proceedings necessary for the
authorization of the Loan shall have been taken and Bank shall have received any other documents that it deems necessary or advisable and (y) unless waived in writing by Aaron, Aaron shall have obtained a validly executed landlord’s waiver
for each location leased by Borrower where the financed Merchandise is located, which Aaron shall provide to Bank up request. 
  

	 	5.	BORROWER’S REPRESENTATIONS AND WARRANTIES. 

 To induce Bank to enter into this
Agreement, Borrower represents and warrants as follows: 
 5.1 Organization and Qualification of Borrower. Borrower is
                     under the laws of the province shown on the first page hereof or under the laws of Canada, and is qualified to do business in
all jurisdictions where the character of its properties or the nature of its activities make such qualification necessary. 
 5.2 Trade
Names, Subsidiaries and Location of Assets. Exhibit B attached hereto and made a part hereof fully and accurately discloses any legal name, trade name or style ever used by Borrower, any Subsidiaries owned by Borrower, and each office,
other place of business or location of assets of Borrower. 
 5.3 Corporate or Other Authority; No Violation of Other Agreements. The
execution, delivery and performance by Borrower of this Agreement and the other Loan Documents have been duly authorized by all necessary action on the part of Borrower and do not and will not (i) violate any provision of Borrower’s
articles of incorporation, by laws, or other organizational documents or any Applicable Law, or (ii) be in conflict with, result in a breach of, or constitute (following notice or lapse of time or both) a default under any agreement to which
Borrower is a party or by which Borrower or any of its property is bound. Each PAD Authorization has been executed by persons with signing authority in respect of the account at a Canadian financial institution that is the subject of such PAD
Authorization and any such PAD Authorization is a Business PAD and not a Personal PAD. 
 5.4 Enforceability. This Agreement and each
of the other Loan Documents create legal, valid and binding obligations of Borrower enforceable against Borrower in accordance with their respective terms. 

5.5 Entire Agreement. The Notes and accompanying Loan Documents executed in connection with the Loans and delivered to Bank are the
only contracts evidencing the transaction described herein and constitute the entire agreement of the parties hereto with respect to the transaction. 

5.6 Genuineness of Signatures. The Notes and each accompanying Loan Document executed in connection with the Loans are genuine and all
signatures, names, amounts and other facts and statements therein and thereon are true and correct. 
 5.7 Litigation. There are no
actions, suits, proceedings or investigations pending or, to the knowledge of Borrower, threatened before any court, tribunal or administrative or governmental agency that may, individually or collectively, adversely affect the financial condition
or business operations of Borrower. 
 5.8 Financial Condition. Borrower’s financial statement previously delivered to Aaron,
fairly and accurately presents the financial condition of Borrower as of such date and has been prepared in 

 
accordance with GAAP consistently applied, and since the date of that financial statement, there has been no material adverse change in the financial condition of Borrower. Borrower is now and
will remain Solvent. 
 5.9 Taxes. All federal, provincial and local tax returns have been duly filed, and all taxes, assessments and
withholdings shown on such returns or billed to Borrower have been paid, and Borrower maintains adequate reserves and accruals in respect of all such federal, provincial and other taxes, assessments and withholdings. There are no unpaid assessments
pending against Borrower for any taxes or withholdings, and Borrower knows of no basis therefor. 
 5.10 Compliance with Laws.
Borrower has duly complied with, and its properties and business operations are in compliance in all material respects with, the provisions of all Applicable Laws, including, without limitation, all Environmental Laws. Borrower possesses all
permits, franchises, licenses, trademark rights, trade names, patents and other authorizations necessary to enable it to conduct its business operations as now conducted, and no filing with, and no consent, authorization, order or license of, any
Person is necessary in connection with the execution or performance of this Agreement or the other Loan Documents. 
 5.11 No
Default. No Default Condition or Event of Default exists. 
 5.12 Accounts. Each Account arises out of a bona fide lease or sale
and delivery of goods or rendition of services by Borrower and, unless otherwise indicated by Borrower to Bank in writing promptly after learning thereof, the facts appearing on the invoice evidencing such Account and Borrower’s books relating
thereto are true and accurate and payment thereof is not subject to any known dispute, offset or claim except for discounts granted in the ordinary course of Borrower’s business that are reflected on the face of such invoice. 

5.13 Use of Proceeds. None of the proceeds of any Advances by Bank or the Term Loan have been or will be used to purchase or carry (or
to satisfy or refinance any indebtedness incurred to purchase or carry) any “margin stock” (as defined in Regulation U of the Federal Reserve Board). Advances shall be made for the sole purposes of honoring requests for SWIFT transfers to
(i) suppliers of Merchandise in payment of Approved Invoices, and (ii) other accounts specified by Borrower with respect to Advances made for working capital purposes, subject to the approval of Aaron, which requests have been made to
Aaron as provided in Section 2.3(i) or Section 2.3(ii), or upon the consent of Aaron, for the purpose of payment of freight charges (but not for the purpose of paying provincial sales taxes, goods and services tax, harmonized sales tax or
customs duty). The proceeds of the Term Loan shall be used solely for the purpose of financing the acquisition and expansion of stores franchised by Aaron and operated by the Borrower and for Aaron-approved working capital purposes, but excluding in
all cases any non-business purposes. 
 5.14 Anti-Corruption Laws and Sanctions. The Borrower has implemented and maintains in effect
policies and procedures designed to ensure compliance in all material respects by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and the Borrower, its
Subsidiaries and their respective officers (in such capacity), employees (in such capacity) and, to the knowledge of the Borrower, its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions. None of (a) the
Borrower, any Subsidiary or any of their respective officers (in such capacity) or employees (in such capacity), or (b) to the knowledge of the Borrower, any director or agent of the Borrower or any Subsidiary is a Sanctioned Person. No
borrowing or other extension of credit hereunder, use by the Borrower or any Subsidiary of the proceeds thereof or other transactions contemplated hereby will violate Anti-Corruption Laws or applicable Sanctions. 

 5.15 Patriot Act. Neither the Borrower nor any of its Subsidiaries is an “enemy”
or an “ally of the enemy” within the meaning of Section 2 of the Trading with the Enemy Act or any enabling legislation or executive order relating thereto. Neither the Borrower nor any of its Subsidiaries is in violation of
(a) the Trading with the Enemy Act, (b) any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto
or (c) the Patriot Act. Neither the Borrower nor any of its Subsidiaries (i) is a blocked person described in Section 1 of the Anti-Terrorism Order or (ii) to the best of its knowledge, engages in any dealings or transactions, or
is otherwise associated, with any such blocked person. 
 Each submission of an Approved Invoice made by Borrower pursuant to this Agreement or any other
Loan Document shall constitute an automatic representation and warranty by Borrower to Bank that there does not then exist any Default Condition or Event of Default and a reaffirmation as of the date of said request that all representations and
warranties of Borrower contained in this Agreement and the other Loan Documents are true in all material respects. All representations and warranties contained in this Agreement or in any of the other Loan Documents shall survive the execution,
delivery and acceptance hereof by Bank and the closing of the transactions described herein. 
  

	 	6.	FINANCIAL COVENANTS. 

 Borrower shall comply with the following financial covenant[s]:

 (i) [Rental Revenue to Debt Service. Commencing on the first day of the calendar quarter in which the 25th month following the
Opening Date of the first store location of Borrower occurs and measured as of the last day of the calendar quarter in which such 25th month occurs and on the last day of each calendar quarter thereafter, the ratio of Borrower’s Rental Revenue
to Debt Service for such quarter shall not be less than 2.2:1.0;]3 
 (ii) Debt to
Rental Revenue. [Commencing on the first day of the calendar quarter in which the first day of the 19th month following the Opening Date of the first store location of Borrower occurs and measured as of the last day of the calendar quarter in
which such 19th month occurs and on the last day of each calendar quarter thereafter,][On the last day of each calendar quarter] the ratio of Borrower’s Debt to Borrower’s Rental Revenue shall not exceed [    ]:1.0.4 
 To the extent any of the financial covenants set forth above in this Section 6 are
calculated based upon the Opening Date of a store location, the financial information from store locations that have not reached the Opening Date anniversary incorporated into such covenants shall be excluded from such calculations. Debt Service and
Debt attributable to such locations and deducted from the final calculations shall be deducted on a pro rata basis calculated by dividing such stores’ aggregate Net Book Value of Merchandise by the Net Book Value of Merchandise for all store
locations. The financial covenants shall otherwise be calculated on a consolidated basis as to all store locations. 
  

	3 	Note: This covenant will not apply in the case of any Borrowers who have Revolving Loans or Term Loans as, in such case, the Borrowing Base in the applicable Loan Agreement will apply in lieu of this covenant.

	4 	Note: This covenant will apply and be tested on last day of each calendar quarter and not be tied to any Opening Date of store locations in the case of any Loan Agreement providing for Loans to be made available to a
Borrower consisting of Revolving Loans and/or Term Loans. Covenant levels for this covenant will be established by Sponsor for each Borrower as per the Servicing Agreement. 

	 	7.	BORROWER’S AFFIRMATIVE COVENANTS. 

 During the term of this Agreement, and
thereafter for so long as there is any outstanding Loan Indebtedness to Bank, Borrower covenants that, unless otherwise consented to by Bank in writing, it shall: 

7.1 Financial Reports. Deliver to Aaron or cause to be delivered to Aaron: 

(i) on or before the last Business Day of each month, an unaudited balance sheet and income statement accurately reflecting the financial
transactions and status of Borrower as of the end of the prior month and on a year to date basis, on a consolidated and per store basis; prepared in accordance with GAAP in the format recommended by Aaron; 

(ii) on or before the last Business Day of each month after the end of each calendar quarter (a) an unaudited balance sheet and income
statement accurately reflecting the financial transactions and status of Borrower as of the end of the prior month and on a quarterly basis, on a consolidated and per store basis, prepared in accordance with GAAP in the format recommended by Aaron,
and (b) a compliance certificate as described below in Section 7.2; 
 (iii) within 90 days after the end of each fiscal year a
balance sheet and income statement of Borrower as of the end of such year and for the fiscal year then ended, compiled by such firm of chartered accountants as may be designated by Borrower and be satisfactory to Bank as prepared in accordance with
GAAP and, to the extent delivered to Aaron, audited financial statements for such period; 
 (iv) within 120 days after the end of each
fiscal year, an annual personal financial statement of each Guarantor; and 
 (v) with reasonable promptness, all reports by Borrower to its
shareholders and such other information as Aaron or Bank may reasonably request from time to time. 
 7.2 Compliance Certificate.
Prepare and deliver to Aaron, to the extent Borrower has a Line of Credit Loan, in conjunction with the quarterly financial reports required to be delivered pursuant to Section 7.1(iii) above, a quarterly compliance certificate (the form of
which is attached hereto as Exhibit C), including a Quarterly Covenant Compliance Report (the form of which is attached hereto as Exhibit D) presenting the calculation of the financial covenants set forth above in Section 6,
noting any negative variances with the covenants and explaining any such variances. 
 Borrower acknowledges that Aaron will review each compliance
certificate and may revise the calculations set forth on such compliance certificate to be consistent with the information shown on quarterly detailed Inventory reconciliation reports and detailed revenue reports prepared by Aaron each quarter
showing the amount of Inventory at each of Borrower’s stores as of the end of such quarter and the amount of monthly and quarterly revenue at each of Borrower’s stores. Borrower acknowledges that Aaron will forward copies of each
compliance certificate, with revised calculations as appropriate, to Bank and agrees that Bank shall be entitled to rely each such compliance certificate, as revised by Aaron, for purposes of determining whether the covenants set forth in
Section 6 above have been met. 

 7.3 Books and Records. Maintain its Books and Records and accounts in accordance with GAAP
and permit any Person designated by Bank or Aaron to visit Borrower’s premises, inspect any of the Collateral or any of the Books and Records, and to make copies thereof and take extracts therefrom, and to discuss Borrower’s financial
affairs with Borrower’s financial officers and accountants. 
 7.4 Taxes. Promptly file all tax returns and pay and discharge
all taxes, assessments, withholdings and other governmental charges imposed upon it, its income or profits, or upon any property belonging to it, prior to the date on which penalties attach thereto. 

7.5 Notices to Bank. Promptly notify Bank in writing of (i) the occurrence of any Default Condition or Event of Default;
(ii) any pending or threatened litigation claiming damages in excess of $25,000 or seeking relief that, if granted, would adversely affect the financial condition or business operations of Borrower; (iii) the release or discharge of any
Hazardous Substance on any property owned by Borrower; and (iv) any asserted violation by Borrower of or demand for compliance by Borrower with any Applicable Law. 

7.6 Compliance with Applicable Laws. Comply in all material respects with all Applicable Laws, including, without limitation, all
Environmental Laws. 
 7.7 Corporate Existence. Maintain its separate corporate existence and all rights, privileges and franchises
in connection therewith, and maintain its qualification and good standing in all jurisdictions where the failure to do so could have a Material Adverse Effect upon its financial condition or ability to collect the Accounts. 

7.8 Electronic Debit Authorizations. Execute and deliver to Bank and maintain in effect at all times a PAD Authorization authorizing
Bank to debit Borrower’s specified account at a Canadian financial institution for all payments required hereunder that are due at Set Intervals, including, without limitation, all payments of interest payable pursuant to Section 2.7, all
Asset Disposition Prepayments and other mandatory principal prepayments payable pursuant to Section 2.8 and all Commitment Fees payable pursuant to Section 2.12 and, if requested by Bank in connection with any Sporadic payment required to
be made by Borrower hereunder, a PAD Authorization in respect of such Sporadic payment, each such PAD Authorization to be executed and delivered by persons having signing authority over the bank account that is the subject of such PAD Authorization.

  

	 	8.	NEGATIVE COVENANTS. 

 During the term of this Agreement, and thereafter for so long as
there are is Loan Indebtedness outstanding, Borrower covenants that unless Bank has first consented thereto in writing, it will not: 
 8.1
Merger; Disposal or Moving of Collateral. Amalgamate, merge or consolidate with or acquire any substantial portion of the assets or stock of any Person; sell, lease, transfer or otherwise dispose of all or any portion of its properties
(including any of the Collateral), except sales or leases of Inventory in the ordinary course of business; or, without having given Bank at least 60 days prior written notice and having executed such instruments and agreements as Bank shall require,
change its name, adopt a French form of name, change the location of any Collateral or the location of its chief executive office, principal place of business or the office at which it maintains its Books and Records. Notwithstanding the foregoing,
to the extent that Borrower is calculating its compliance with the financial covenants set forth in Section 6 hereof on a consolidated basis, Borrower may move Inventory from one location included in such calculation to another of
Borrower’s Aaron’s locations without complying with the notice provisions hereof, as long as such Inventory is properly transferred in the Aaron’s Proprietary System. 

 8.2 Liens. Grant or suffer to exist any Lien upon any of the Collateral except Permitted
Liens. 
 8.3 Guarantees. Guarantee, assume, endorse or otherwise become contingently liable for any obligation or indebtedness of
any Person, either directly or indirectly, exceeding $25,000 not existing as of this date, except by endorsement of items of payment for deposit or collection. 

8.4 Loans. Make loans or advances of money to or investments in any Person, or (except in the ordinary course of business and on fair
and reasonable terms) engage in any transaction with a Subsidiary or affiliate. 
 8.5 Stock of Borrower. Repurchase, or pay or
declare any dividend on, any of its capital stock; provided, however, that if no Default Condition or Event of Default exists and Borrower remains in compliance with the financial covenants set forth in Section 6 above after
giving effect thereto, it may pay dividends and make such repurchases. 
 8.6 Sanctions and Anti-Corruption Laws. Request or use any
borrowing or other extension of credit hereunder, or use, and the Borrower shall ensure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any borrowing or other extension of
credit hereunder (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of
funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

  

	 	9.	EVENTS OF DEFAULT. 

 9.1 List of Events of Default. The occurrence of any one or
more of the following conditions or events shall constitute an “Event of Default”: 
 (i) Borrower shall fail to pay any of
the Loan Indebtedness (including any overadvance) or to repay principal as required in connection with any Asset Disposition within ten (10) days of the due date thereof (whether due at stated maturity, on demand, upon acceleration or otherwise
and including any failure to pay resulting from a dishonour of a pre-authorized debit or a return of a pre-authorized debit initiated by Borrower); 

(ii) any warranty, representation, or other statement by Borrower herein or in any instrument, certificate or financial statement furnished in
compliance herewith proves to have been false or misleading in any material respect when made; 
 (iii) Borrower shall fail or neglect to
perform, keep or observe any covenant contained in this Agreement, any of the other Loan Documents or any other agreement now or hereafter entered into with Bank; Borrower shall fail to abide by the financial covenants set forth in Section 6
hereof, provided that Aaron may waive any financial covenant. 
 (iv) Borrower or any Guarantor shall fail to pay when due any amount owed
to any creditor (other than Bank) or Borrower or any Guarantor shall fail to pay or perform any liability or obligation in accordance with the terms of any agreement with Bank; 

(v) Borrower, Aaron or any Guarantor shall cease to be Solvent, shall die or become incompetent, shall suffer the appointment of a receiver,
trustee, custodian or similar fiduciary, shall make an assignment for the benefit of creditors, or shall make an offer of settlement or composition to their respective unsecured creditors generally; 

 (vi) any petition for an order for relief shall be filed by or against Borrower or any Guarantor
or Aaron under the BIA or the CCAA (if against Borrower or any Guarantor, the continuation of such proceeding for more than 30 days); 

(vii) any judgment, writ of attachment or similar process is entered or filed against Borrower or any Guarantor or any of Borrower’s or
any Guarantor’s property and such judgment, writ of attachment or process is not dismissed, satisfied or vacated within ten (10) days thereafter or (ii) results in the creation or imposition of any Lien upon any Collateral that is not
a Permitted Lien; 
 (viii) any Guarantor shall revoke or attempt to revoke the guaranty signed by such Guarantor or shall repudiate such
Guarantor’s liability thereunder or Aaron shall default in its obligations to Bank with respect to the Loan Indebtedness or repudiate its liability therefor; 

(ix) any Person, or group of Persons (whether or not related), shall have or obtain legal or beneficial ownership of a majority of the
outstanding voting securities or rights of Borrower, other than any Person, or group of Persons, that has such majority ownership on the date of execution of this Agreement; 

(x) Borrower shall lose its franchise, license or right to lease or to sell the Inventory or Borrower’s Franchise Agreement is terminated
or revoked for any reason; 
 (xi) Borrower shall fail to enter properly any acquisition of Inventory or Equipment or any Asset Disposition
on the Aaron’s Proprietary System; 
 (xii) Borrower shall use its FCTA for any use other than as explicitly authorized pursuant to
this Agreement; or 
 (xiii) Borrower shall not have in effect at all times an effective PAD Authorization in respect of the payment of all
amounts payable by it hereunder at Set Intervals or shall fail, if so requested by Lender, to execute and deliver a PAD Authorization in respect of any sporadic payment due hereunder. 

9.2 Cure Period. Borrower shall have a five (5) calendar day period after Bank gives it notice of the occurrence of an Event of
Default (other than an Event of Default pursuant to Section 9.1(vi) above), during which it may cure such Event of Default. An Event of Default arising under Section 9.1(i) above shall only be cured by Bank’s receipt of payment in
immediately available funds by wire transfer or pre-authorized debit. 
 9.3 Advances. In no event shall Bank have any obligation to
make any Loan hereunder or an Advance pursuant to a Line of Credit Commitment or Revolving Commitment hereunder if there exists a Default Condition or an Event of Default. 
  

	 	10.	REMEDIES. 

 All of the Loan Indebtedness shall become immediately due and payable and the
Line of Credit Commitment and Revolving Commitment shall be deemed immediately terminated (without notice to or demand upon Borrower) upon the occurrence of an Event of Default under Section 9.1(vi) of this Agreement; and upon and after the
occurrence of any other Event of Default, subject to the cure period set 

 
forth in Section 9.2 hereof, Bank shall have the right to terminate immediately the Line of Credit Commitment and Revolving Commitment and to declare the entire unpaid principal balance of
and accrued interest with respect to the Loan Indebtedness to be, and the same shall thereupon become, immediately due and payable upon receipt by Borrower of written notice and demand. From and after the date on which the Loan Indebtedness becomes
automatically due and payable or is declared by Bank to be due and payable as aforesaid, Bank shall have and may exercise from time to time any and all rights and remedies afforded to a secured party under the PPSA or any other Applicable Law. If
the Loan Indebtedness is collected by or through legal counsel, Bank shall be entitled to collect reasonable legal fees and court costs from Borrower. In addition to, and without limiting the generality of the foregoing, Bank shall have the rights
and remedies set forth in the Security Agreement and the following rights and remedies which it may exercise at any time or times (all of which rights and remedies shall be cumulative and may be exercised singularly or concurrently): 

(i) the right to notify any Account Debtor to make all payments owing to Borrower directly to Bank for application to the Loan Indebtedness
and to collect all amounts owing from any such Account Debtor; 
 (ii) the right to sell, lease or otherwise dispose of any or all of the
Collateral at public or private sale, for cash, upon credit or upon such other terms as Bank deems advisable in its sole discretion, or otherwise to realize upon the whole or from time to time any part of the Collateral in which Bank may have a
security interest. Any requirement of reasonable notice shall be met if such notice is sent to Borrower in accordance with Section 12 hereof at least seven (7) days before the date of sale or other disposition of the Collateral. Bank may
bid and be the purchaser at any such sale if permitted by Applicable Law; 
 (iii) the right to require Borrower, at Borrower’s
expense, to assemble the Collateral and make it available to Bank at a place reasonably convenient to both parties (and, for purposes hereof, Borrower stipulates that Bank shall be entitled to the remedy of specific performance). Alternatively, Bank
may peaceably by its own means or with judicial assistance enter Borrower’s premises and take possession of the Collateral or dispose of the Collateral on Borrower’s premises without interference by Borrower; 

(iv) the right to incur legal fees and expenses in exercising any of the rights, remedies, powers or privileges provided hereunder, and the
right (but not the obligation) to pay, satisfy and discharge, or to bond, deposit or indemnify against, any tax or other Lien which in the opinion of Bank may in any manner or to any extent encumber any of the Collateral, all of which fees, payments
and expenses shall become part of Bank’s expenses of retaking, holding, preparing for sale and the like, and shall be added to and become a part of the principal amount of the Loan Indebtedness; 

(v) the right, in Bank’s sole discretion, to perform any agreement of Borrower hereunder which Borrower shall fail to perform and take
any other action which Bank deems necessary for the maintenance or preservation of any of the Collateral or Bank’s interest therein, and Borrower agrees forthwith to reimburse Bank for all expenses incurred in connection with the foregoing,
together with interest thereon at the Default Rate from the date incurred until the date of reimbursement; 
 (vi) the right at any time or
times, to the fullest extent permitted by Applicable Law, to set off and apply any and all deposits (general or special, time or demand) held by Bank for Borrower’s account against any of the Loan Indebtedness, irrespective of whether or not
Bank has made any demand under the this Agreement; 

 (vii) the right to apply the proceeds realized from any collection, sale, lease or other
disposition of the Collateral first to the costs, expenses and legal fees incurred by Bank for collection and for acquisition, protection, removal, storage, sale and delivery of the Collateral; secondly, to interest due upon the principal amount of
the Loan Indebtedness; and thirdly, to the principal amount of the Loan Indebtedness. If any deficiency shall arise, Borrower and Guarantors shall remain bound and liable to Bank therefor; and 

(viii) the right to act as Borrower’s attorney in fact (and Borrower hereby irrevocably appoints Bank as Borrower’s agent and
attorney in- fact), in Borrower’s or Bank’s name, but at Borrower’s cost and expense, to receive, open and dispose of all mail addressed to Borrower pertaining to any of the Collateral, to notify postal authorities to change the
address and delivery of mail to Borrower to such address as Bank may designate, to sign Borrower’s name on any bill of lading constituting or relating to any Collateral, to send verifications with respect to the Collateral, to execute in
Borrower’s name any affidavits or notices with regard to any and all Lien rights and to do all other acts and things necessary to carry out the terms of this Agreement or to discharge any obligation of Borrower hereunder, this power, being
coupled with an interest, is to be irrevocable so long as any Loan Indebtedness is outstanding. 
  

	 	11.	WAIVERS. 

 Borrower waives notice of Bank’s acceptance hereof. Borrower hereby
waives any requirement on the part of Bank to post any bond or other security as a condition to Bank’s right to obtain an immediate writ of possession with respect to any Collateral. Bank shall not be deemed to have waived any of its rights
upon or remedies hereunder or any Event of Default unless such waiver be in writing and signed by Bank. No delay or omission on the part of Bank in exercising any right shall operate as a waiver of such right or any other right. A waiver on any one
occasion shall not be construed as a bar to or waiver of any right on any future occasion. 
  

	 	12.	NOTICES. 

 All notices and demands to or upon a party hereto shall be in writing and
shall be sent by certified or registered mail, return receipt requested, personal delivery against receipt or by telecopier or other facsimile transmission and shall be deemed to have been validly served, given or delivered when delivered against
receipt or one Business Day after deposit in the mail, postage prepaid, or, in the case of facsimile transmission, when indicated by verification receipt printed by the sending machine as having been received at the office of the noticed party,
addressed in each case as follows: 
  

							
	If to Borrower:	  	  
	  	
		  	Attn:	  	  
	  	

							
		  	  
	  	
		  	                        ,
                    
                        
		  	Telecopier No.:	  	  
	  	
			
	If to Bank:	  	SunTrust Bank	  	
		  	Program Lending	  	
		  	Attn: Aaron’s Program Manager	  	
		  	303 Peachtree Street, N.E., 2nd Floor	  	
		  	Mail Code 1802	  	
		  	Atlanta, Georgia 30308	  	
		  	Telecopier No.: (404) 724-3716	  	

 
or to such other address as each party may designate for itself by like notice given in accordance with this Section 12. Any written notice or demand that is not sent in conformity with the
provisions hereof shall nevertheless be effective on the date that such notice is actually received by the individual to whose attention such notice is to be sent as specified above or such individual’s successor in office. 

 

	 	13.	INDEMNIFICATION. 

 Borrower hereby agrees to indemnify Bank and hold Bank harmless from
and against any liability, loss, damage, suit, action or proceeding ever suffered or incurred by Bank as the result of Borrower’s failure to observe, perform or discharge Borrower’s duties hereunder. Without limiting the generality of the
foregoing, this indemnity shall extend to any claims asserted against Bank by any Person under any environmental laws. If any taxes, fees or other charges shall be payable by Borrower or Bank on account of the execution, delivery or recording of any
of the Loan Documents or any loans outstanding hereunder, Borrower will pay (or reimburse Bank’s payment of) all such taxes, fees or other charges, including any applicable interests and penalties, and will indemnify and hold Bank harmless from
and against liability in connection therewith. The indemnity obligations of Borrower under this Section 13 shall survive the payment in full of the Loan Indebtedness. 
  

	 	14.	ENTIRE AGREEMENT; AMENDMENT. 

 This Agreement and the other Loan Documents embody the
entire understanding and agreement between the parties hereto with respect to the subject matter hereof, and this Agreement may not be modified or amended except by an agreement in writing signed by Borrower and Bank. 

 

	 	15.	SUCCESSORS AND ASSIGNS. 

 This Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns; but Borrower shall not assign this Agreement or any right or benefit hereunder to any Person. Bank may assign its rights and obligations hereunder at any time and to any Person,
including without limitation, to Aaron. 
  

	 	16.	ARBITRATION. 

 ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT
SHALL BE DETERMINED BY ARBITRATION IN ACCORDANCE WITH THE INTERNATIONAL ARBITRATION RULES OF THE AMERICAN ARBITRATION ASSOCIATION EXCEPT TO THE EXTENT OTHERWISE SET FORTH IN THIS SECTION 16. THE PLACE OF ARBITRATION SHALL BE ATLANTA, GEORGIA
AND THE LANGUAGE OF ARBITRATION SHALL BE ENGLISH. THE NUMBER OF ARBITRATORS SHALL BE THREE SELECTED AS FOLLOWS: WITHIN FOURTEEN (14) DAYS AFTER THE COMMENCEMENT OF ARBITRATION, EACH PARTY WILL APPOINT ONE ARBITRATOR. THESE TWO ARBITRATORS WILL
THEN NAME A PRESIDING ARBITRATOR WITHIN FOURTEEN (14) DAYS AFTER THE SELECTION OF THE PARTY APPOINTEES. EACH ARBITRATOR SHALL BE AN ATTORNEY ADMITTED BEFORE THE BAR OF ANY STATE OF THE UNITED STATES OR THE BAR OF ANY PROVINCE OF CANADA. IF
EITHER PARTY FAILS TO APPOINT AN ARBITRATOR, OR IF THE TWO ARBITRATORS DO NOT NAME A THIRD ARBITRATOR WITHIN THESE TIME PERIODS, THE INTERNATIONAL CENTRE FOR DISPUTE RESOLUTION SHALL AT THE WRITTEN REQUEST OF EITHER PARTY COMPLETE THE APPOINTMENTS
THAT HAVE NOT BEEN MADE PURSUANT TO THE INTERNATIONAL ARBITRATION RULES OF THE AMERICAN ARBITRATION ASSOCIATION. THE ARBITRATORS SHALL AWARD TO 

 
THE PREVAILING PARTY, IF ANY, AS DETERMINED BY THE ARBITRATORS, ALL COSTS AND EXPENSES OF THE ARBITRATORS AND THE INTERNATIONAL CENTRE FOR DISPUTE RESOLUTION. ALL WITNESS TESTIMONY AT THE HEARING
SHALL BE TRANSCRIBED BY A PUBLIC STENOGRAPHER OR COURT REPORTER. ALL PARTIES AGREE TO BE BOUND BY THE RESULTS OF SUCH ARBITRATIONS; JUDGMENT UPON THE AWARD SO RENDERED MAY BE ENTERED AND ENFORCED IN ANY COURT OF COMPETENT JURISDICTION. TO THE EXTENT
REASONABLY PRACTICABLE, BOTH PARTIES AGREE TO CONTINUE PERFORMING THEIR RESPECTIVE OBLIGATIONS UNDER THIS AGREEMENT WHILE THE DISPUTE IS BEING RESOLVED. 
  

	 	17.	MISCELLANEOUS. 

 Time is of the essence of this Agreement. Bank reserves the right to
participate, sell or assign the Loans made hereunder and provide any participant or assignee all information in Bank’s possession regarding Borrower, its business and the Collateral. Borrower shall reimburse Bank for Bank’s out-of-pocket
expenses and for the fees and expenses and disbursements of Bank’s counsel in connection with the negotiation, documentation and closing of the transactions contemplated hereby, and Borrower will pay all expenses incurred by Borrower in
connection with the transactions. The Section headings are for convenience only and shall not limit or otherwise affect any of the terms hereof. THIS AGREEMENT AND ALL RIGHTS AND OBLIGATIONS HEREUNDER, INCLUDING MATTERS OF CONSTRUCTION, VALIDITY
AND PERFORMANCE, SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF GEORGIA (WITHOUT REGARD TO THE LAWS OF CONFLICTS THEREOF) AND IS INTENDED TO TAKE EFFECT AS A SEALED INSTRUMENT. 

 

	 	18.	RELATIONS WITH AARON. 

 Borrower recognizes and acknowledges that Bank has made the Loans
available to Borrower hereunder at the behest of and as an accommodation to Aaron. Accordingly, Borrower agrees that from time to time Bank may release to Aaron such information about Borrower and the Loans as Aaron may request, and Bank may
condition its agreement to any waiver, modification or amendment on the prior written consent of Aaron. Borrower further agrees that upon the occurrence of an Event of Default hereunder, Bank may notify Aaron of such Event of Default prior to
notifying Borrower thereof, and Bank shall not be liable to Borrower for failure to give simultaneous notice to Borrower. Borrower further agrees that Bank shall not be liable to Borrower as a result of any information or document obtained by Bank
regarding Borrower which is shared by Bank with Aaron. 

 WITNESS the hand and seal of the parties hereto on the date first above written. 

Accepted in Atlanta, Georgia: 
  

			
	BORROWER:
	
	  

	  

	  

	
	BANK:
	
	SUNTRUST BANK:
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT A-1 

FORM OF 
 LINE
OF CREDIT NOTE 
  

			
	Closing Date: [Closing Date]	  	$        
		  	Atlanta, Georgia

 FOR VALUE RECEIVED, the undersigned,
                     (the “Borrower”), promises to pay to the order of SUNTRUST BANK, a Georgia banking corporation (the
“Bank”), at Bank’s principal office in Atlanta, Georgia, or at such other place as the holder hereof may designate by notice in writing to Borrower, in immediately available funds in lawful money of Canada, on
                                        , (the
“Maturity Date”, as such date may be extended from time to time, for an additional 364 day period unless either party terminates the Loan as set forth in Section 2.6 of the Loan Agreement), the lesser of (x) the principal sum of
the Line of Credit Commitment:                      ($        ), or (y) so much principal thereof as
shall have been from time to time disbursed hereunder in accordance with that certain Loan Agreement, dated as of [                    ], by and
between Borrower and Bank (as amended, restated, modified or supplemented from time to time, the “Agreement”) and not theretofore repaid, as shown on the records of Bank. 

In addition to principal, Borrower agrees to pay interest on the principal amounts disbursed hereunder at a floating rate of interest equal to
the Prime Rate plus an additional
                                        , from
time to time, upon such dates as provided for in the Agreement. Interest shall accrue on the outstanding principal balance from the date hereof up to and through the date on which all principal and interest hereunder is paid in full, and shall be
computed on the basis of the actual number of days elapsed in a year of 360 days. Such interest is to be paid to Bank at its address set forth above or as otherwise provided in the Agreement. For informational purposes, as of the date hereof the
Prime Rate in effect is     % per annum, thus producing an initial interest rate under the Agreement on such date of     % per annum and, when adjusted for a year of 365 days, an initial simple interest rate
of     % per annum. Any principal amount due under this Line of Credit Note (the “Note”) that is not paid on the due date therefor whether on the Maturity Date, or resulting from the acceleration of maturity upon
the occurrence of an Event of Default (as defined in the Agreement), shall bear interest from the date due until payment in full at the Default Rate, as such term is defined in the Agreement. 

This Note evidences a loan incurred pursuant to the terms and conditions of the Agreement to which reference is hereby made for a full and
complete description of such terms and conditions, including, without limitation, provisions for the acceleration of the maturity hereof upon the existence or occurrence of certain conditions or events, and the terms of any permitted prepayments
hereof. All capitalized terms used in this Note shall have the same meanings as set forth in the Agreement. 
 Upon the existence or
occurrence of any Event of Default, the principal and all accrued interest hereof shall automatically become, or may be declared, due and payable in the manner and with the effect provided in the Agreement. In addition, this Note is subject to
mandatory prepayment upon the terms and conditions of the Agreement. 
 Bank shall at all times have a right of set off against any deposit
balances of Borrower in the possession of Bank and Bank may apply the same against payment of this Note or any other indebtedness of Borrower to Bank. The payment of any indebtedness evidenced by this Note prior to the Maturity

 
Date shall not affect the enforceability of this Note as to any future, different or other indebtedness incurred hereunder by Borrower. In the event the indebtedness evidenced by this Note is
collected by legal action or through legal counsel, Bank shall be entitled to recover from Borrower all costs of collection, including, without limitation, reasonable legal fees if collected by or through legal counsel. 

Borrower acknowledges that the actual crediting of the amount of any disbursement under the Agreement to an account of Borrower or recording
such amount in the records of Bank shall, in the absence of manifest error, constitute presumptive evidence of such disbursement and that such Advance was made and borrowed under the Agreement. Such account records shall constitute, in the absence
of manifest error, presumptive evidence of principal amounts outstanding and the payments made under the Agreement at any time and from time to time, provided, however, that the failure of Bank to record in such account the type or
amount of any Advance shall not affect the obligation of the undersigned to repay such amount together with interest thereon in accordance with this Note and the Agreement. 

For the purposes of this Note, whenever interest to be paid hereunder is to be calculated on the basis of 360 days or any other period of
time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is
to be ascertained and divided by 360 or such other number of days in such period, as the case may be. 
 Failure or forbearance of
Bank to exercise any right hereunder, or otherwise granted by the Agreement or by law, shall not affect or release the liability of Borrower hereunder, and shall not constitute a waiver of such right unless so stated by Bank in writing. THIS NOTE
AND THE RIGHTS AND OBLIGATIONS HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF) OF THE STATE OF GEORGIA. TIME IS OF THE ESSENCE OF THIS NOTE. 

PRESENTMENT FOR PAYMENT, NOTICE OF DISHONOR AND PROTEST ARE HEREBY WAIVED. 

Executed under hand and seal of Borrower as of the day and year first above written. 

 

			
	  
	  	
	  
	  	
	  
	  	

 EXHIBIT A-2 

FORM OF 
 TERM
NOTE 
  

			
	Closing Date: [Closing Date]	  	$        
		  	Atlanta, Georgia

 FOR VALUE RECEIVED, the undersigned,
                    (the “Borrower”), promises to pay to the order of SUNTRUST BANK, a Georgia banking corporation (the
“Bank”), at Bank’s principal office in Atlanta, Georgia, or at such other place as the holder hereof may designate by notice in writing to Borrower, in immediately available funds in lawful money of Canada,
                                 ($        ).
Repayment will be in      consecutive equal monthly installments of principal in the amount of $         based on a      month amortization plus accrued and unpaid
interest and shall be due and payable on each Payment Date, with the first installment being due and payable on                     , and the
remaining outstanding principal balance, together with all accumulated unpaid interest shall be due and payable on                     , (the
“Maturity Date”). 
 In addition to principal, Borrower agrees to pay interest on the principal amounts disbursed hereunder at a
floating rate of interest equal to the Prime Rate plus an additional
                                        , from
time to time, upon such dates as provided for in that certain Loan Agreement dated as of [                    ], by and between Borrower and Bank (as
amended, restated, modified or supplemented from time to time, the “Agreement”). Interest shall accrue on the outstanding principal balance from the date hereof up to and through the date on which all principal and interest hereunder is
paid in full, and shall be computed on the basis of the actual number of days elapsed in a year of 360 days. Such interest is to be paid to Bank at its address set forth above or as otherwise provided in the Agreement. For informational purposes, as
of the date hereof the Prime Rate in effect is     % per annum, thus producing an initial interest rate under the Agreement on such date of     % per annum and, when adjusted for a year of 365 days, an initial
simple interest rate of     % per annum. Any principal amount due under this Term Note (the “Note”) that is not paid on the due date therefor whether on the due date, or resulting from the acceleration of
maturity upon the occurrence of an Event of Default (as defined in the Agreement), shall bear interest from the date due until payment in full at the Default Rate, as such term is defined in the Agreement. 

This Note evidences a loan incurred pursuant to the terms and conditions of the Agreement to which reference is hereby made for a full and
complete description of such terms and conditions, including, without limitation, provisions for the acceleration of the maturity hereof upon the existence or occurrence of certain conditions or events, and the terms of any permitted prepayments
hereof. All capitalized terms used in this Note shall have the same meanings as set forth in the Agreement. 
 Upon the existence or
occurrence of any Event of Default, the principal and all accrued interest hereof shall automatically become, or may be declared, due and payable in the manner and with the effect provided in the Agreement. In addition, this Note is subject to
mandatory prepayment upon the terms and conditions of the Agreement. 
 Bank shall at all times have a right of set off against any deposit
balances of Borrower in the possession of Bank and Bank may apply the same against payment of this Note or any other indebtedness of Borrower to Bank, irrespective of whether or not Bank has made any demand under the Agreement. The payment of any
indebtedness evidenced by this Note prior to the Maturity Date shall not affect the 

 
enforceability of this Note as to any future, different or other indebtedness incurred hereunder by Borrower. In the event the indebtedness evidenced by this Note is collected by legal action or
through legal counsel, Bank shall be entitled to recover from Borrower all costs of collection, including, without limitation, reasonable legal fees if collected by or through legal counsel. 

Borrower acknowledges that the actual crediting of the amount of any disbursement under the Agreement to an account of Borrower or recording
such amount in the records of Bank shall, in the absence of manifest error, constitute presumptive evidence of such disbursement. Such account records shall constitute, in the absence of manifest error, presumptive evidence of principal amounts
outstanding and the payments made under the Agreement at any time and from time to time, provided, however, that the failure of Bank to record in such account the type or amount of any advance shall not affect the obligation of the
undersigned to repay such amount together with interest thereon in accordance with this Note and the Agreement. 
 For the purposes of
this Note, whenever interest to be paid hereunder is to be calculated on the basis of 360 days or any other period of time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation
is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by 360 or such other number of days in such period, as the case may be. 

Failure or forbearance of Bank to exercise any right hereunder, or otherwise granted by the Agreement or by law, shall not affect or release
the liability of Borrower hereunder, and shall not constitute a waiver of such right unless so stated by Bank in writing. THIS NOTE AND THE RIGHTS AND OBLIGATIONS HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW (WITHOUT
GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF) OF THE STATE OF GEORGIA. TIME IS OF THE ESSENCE OF THIS NOTE. 
 PRESENTMENT
FOR PAYMENT, NOTICE OF DISHONOR AND PROTEST ARE HEREBY WAIVED. 
 Executed under hand and seal of Borrower as of the day and year first
above written. 
  

			
	  
	  	
	  
	  	
	  
	  	

 EXHIBIT A-3 

FORM OF 

REVOLVING NOTE 
  

			
	Closing Date: [Closing Date]	  	$        
		  	Atlanta, Georgia

 FOR VALUE RECEIVED, the undersigned,
                     (the “Borrower”), promises to pay to the order of SUNTRUST BANK, a Georgia banking corporation (the “Bank”),
at Bank’s principal office in Atlanta, Georgia, or at such other place as the holder hereof may designate by notice in writing to Borrower, in immediately available funds in lawful money of Canada, on
                                        , (the
“Maturity Date”, as such date may be extended from time to time in the sole discretion of Bank for up to an additional 364 day period by written notice from Bank to Borrower unless either party terminates the Loan as set forth in
Section 2.8 of the Loan Agreement), the lesser of (i) principal sum of the Revolving Commitment:                     
($        ), or (ii) so much thereof as shall have been from time to time disbursed hereunder in accordance with certain Loan Agreement, dated as of
[                    ], by and between Borrower and Bank (as amended, restated, modified or supplemented from time to time, the
“Agreement”) and not theretofore repaid, as shown on the records of Bank. 
 In addition to principal, Borrower agrees to pay
interest on the principal amounts disbursed hereunder at a floating rate of interest equal to the Prime Rate plus an additional
                                        , from
time to time, upon such dates as provided for in the Agreement. Interest shall accrue on the outstanding principal balance from the date hereof up to and through the date on which all principal and interest hereunder is paid in full, and shall be
computed on the basis of the actual number of days elapsed in a year of 360 days. Such interest is to be paid to Bank at its address set forth above or as otherwise provided in the Agreement. For informational purposes, as of the date hereof the
Prime Rate in effect is     % per annum, thus producing an initial interest rate under the Agreement on such date of     % per annum and, when adjusted for a year of 365 days, an initial simple interest rate
of     % per annum. Any principal amount due under this Revolving Note (the “Note”) that is not paid on the due date therefor whether on the Maturity Date, or resulting from the acceleration of maturity upon the
occurrence of an Event of Default (as defined in the Agreement), shall bear interest from the date due until payment in full at the Default Rate, as such term is defined in the Agreement. 

This Note evidences loans incurred pursuant to the terms and conditions of the Agreement to which reference is hereby made for a full and
complete description of such terms and conditions, including, without limitation, provisions for the acceleration of the maturity hereof upon the existence or occurrence of certain conditions or events, and the terms of any permitted prepayments
hereof. All capitalized terms used in this Note shall have the same meanings as set forth in the Agreement. 
 Upon the existence or
occurrence of any Event of Default, the principal and all accrued interest hereof shall automatically become, or may be declared, due and payable in the manner and with the effect provided in the Agreement. In addition, this Note is subject to
mandatory prepayment upon the terms and conditions of the Agreement. 

 Bank shall at all times have a right of set-off against
any deposit balances of Borrower in the possession of Bank and Bank may apply the same against payment of this Note or any other indebtedness of Borrower to Bank, irrespective of whether or not Bank has made any demand under the Loan Agreement. The
payment of any indebtedness evidenced by this Note prior to the Maturity Date shall not affect the enforceability of this Note as to any future, different or other indebtedness incurred hereunder by Borrower. In the event the indebtedness evidenced
by this Note is collected by legal action or through legal counsel, the Bank shall be entitled to recover from Borrower all costs of collection, including, without limitation, reasonable legal fees if collected by or through legal counsel. 

Borrower acknowledges that the actual crediting of the amount of any disbursement under the Agreement to an account of Borrower or recording
such amount in the records of Bank shall, in the absence of manifest error, constitute presumptive evidence of such disbursement and that such Advance was made and borrowed under the Agreement. Such account records shall constitute, in the absence
of manifest error, presumptive evidence of principal amounts outstanding and the payments made under the Agreement at any time and from time to time, provided, however, that the failure of Bank to record in such account the type or amount of
any Advance shall not affect the obligation of the undersigned to repay such amount together with interest thereon in accordance with this Note and the Agreement. 

For the purposes of this Note, whenever interest to be paid hereunder is to be calculated on the basis of 360 days or any other period of
time that is less than a calendar year, the yearly rate of interest to which the rate determined pursuant to such calculation is equivalent is the rate so determined multiplied by the actual number of days in the calendar year in which the same is
to be ascertained and divided by 360 or such other number of days in such period, as the case may be. 
 Failure or forbearance of Bank to
exercise any right hereunder, or otherwise granted by the Agreement or by law, shall not affect or release the liability of Borrower hereunder, and shall not constitute a waiver of such right unless so stated by Bank in writing. THIS NOTE AND THE
RIGHTS AND OBLIGATION HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF) OF THE STATE OF GEORGIA. TIME IS OF THE ESSENCE OF THIS NOTE.  

PRESENTMENT FOR PAYMENT, NOTICE OF DISHONOR AND PROTEST ARE HEREBY WAIVED. 

Executed under hand and seal of Borrower as of the day and year first above written. 

 

			
	  
	  	
	  
	  	
	  
	  	

 EXHIBIT B 

Permitted Liens 

The following described Liens are Permitted Liens (if none, so state): 

 

					
	 Name of Lien Holder
	  	 Date of Recording
	  	 Collateral

		  		  	
		  		  	

 Trade Names and Styles 

The following are the only trade names or trade styles ever used by Borrower (if none, so state): 

Subsidiaries 
 The
following are all of the subsidiaries owned by Borrower (if none, so state): 
 Business Locations 

The following are all of the locations where Borrower has an office or other place of business or owns assets: 

 EXHIBIT C 

COMPLIANCE CERTIFICATE OF BORROWER 

(Pursuant to Section 7.2 of Loan Agreement dated
                    ) 

                    (the “Borrower”)
HEREBY CERTIFIES that: 
 This Compliance Certificate is furnished pursuant to the Loan Agreement (the “Agreement”) dated
                    by and between Borrower and SUNTRUST BANK (“Bank”). Unless otherwise defined herein, the terms used in this
Report have the meanings given to them in this Agreement. 
 The figures and information for determining compliance by Borrower with the financial covenants
set forth in the Quarterly Covenant Compliance Report attached hereto have been prepared based upon the financial reports accompanied hereby and both the Quarterly Covenant Compliance Report and such financial reports are true and complete as of the
date hereof. 
 The activities of Borrower during the preceding quarter have been reviewed by the president or other authorized officer or the employees or
agents under his immediate supervision. Based on such review, to the best knowledge and belief of the president or other authorized officer, and as of the date of this Certificate, Borrower has performed and observed each and every covenant
contained in the Agreement to be performed by it, and no Event of Default or Default Condition exists, except for the following: 
 Please describe or
indicate “None” if none exist: 
  

			
	  

	  

	  

 Borrower has properly and accurately reported all Asset Dispositions pursuant to Section 2.10 of the Agreement. 

WITNESS my hand this     day of             ,
        . 

 EXHIBIT D 

QUARTERLY COVENANT COMPLIANCE REPORT 

(Section 6 - Financial Covenants) 
  

					
	 Test Borrower
	  	
			
	For Quarter Ending:	 	  
	  	

 With respect to the financial covenants set forth below which are calculated based upon the Opening Date of a
store location, the financial information from store locations that have not reached the Opening Date anniversary incorporated into such covenants shall be excluded from such calculations. [Debt Service and] Debt attributable to such locations and
deducted from the final calculations shall be deducted on a pro rata basis calculated by dividing such stores’ aggregate Net Book Value of Merchandise by the Net Book Value of Merchandise for all store locations. The financial covenants shall
otherwise be calculated on a consolidated basis as to all store locations. 
  

									
	I.	 	Rental Revenue to Debt Service	  		 		 	
				
	A.	 	Enter amount of quarterly Rental Revenue.	  	$	 	  

				
	B.	 	Enter amount of quarterly Rental Revenue attributable to store locations open less than 25 months.	  	$	 	  

				
	C.	 	Subtract B from A.	  	$	 	  

				
	D.	 	Enter amount of quarter’s Debt Service.	  	$	 	  

				
	E.	 	Enter amount of quarter’s Debt Service attributable to store locations open less than 25 months.	  	$	 	  

				
	F.	 	Subtract E from D.	  	$	 	  

			
		 	 Ratio of C:F.
	  	  

					
		 	 STANDARD — Ratio not less than —
	  		 	2.2: 1.0	 	
		
	Compliance?    Yes   ̈    No   ̈	 	
					
	II.	 	Debt to Rental Revenue	  		 		 	
				
	A.	 	Enter amount of Debt.	  	$	 	  

			
	B.  [Enter amount of Debt attributable to store locations open less than 19 months.]	  	$	 	  

					
	C.	 	[Subtract B from A.	  	$	 	  
	 	]

									
			
	D.  Enter Amount of last quarter’s Rental Revenue.	  	$	 	  

				
	E.  [Enter amount of last quarter’s Rental Income attributable to store locations open less than 19 months.	  	$	 	  
	 	]
				
	F.  [Subtract E from D.	  	$	 	  
	 	5
			
		 	 Ratio of C : F.
	  	  

			
		 	 STANDARD
	  	 [    ] : 1.0

					
		 	 Compliance?    Yes   ̈    No   ̈
	  		 		 	

 Note: All terms are those used in generally accepted accounting practices unless specifically defined in the Agreement. 

 

	5 	Note: This covenant will apply and be tested on last day of each calendar quarter and not be tied to any Opening Date of store locations in the case of any Loan Agreement providing for Loans to made available to a
Borrower consisting solely of Revolving Loans. In which case, the bracketed portions of this Debt to Rental Revenue covenant will not be applicable. Covenant levels for this covenant will be established by Sponsor for each Borrower as per the
Servicing Agreement. 

 EXHIBIT E 

FORM OF SECURITY AGREEMENT 

THIS AGREEMENT is made as of —, 20—

 BETWEEN 
 —, a [corporation][limited partnership][partnership] [incorporated/formed] under the laws of [the Province of —][Canada] (the
“Debtor”), 
 - and - 

SUNTRUST BANK, a Georgia banking corporation (the “Secured Party”). 

WHEREAS the Debtor has entered into the Loan Agreement with the Secured Party pursuant to which certain credit facilities will be extended to
the Debtor; 
 AND WHEREAS the Debtor has agreed to grant a security interest and assignment, mortgage and charge in the Collateral to the
Secured Party in order to secure the performance of its Obligations; 
 NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the
covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

ARTICLE 1 - INTERPRETATION 
 1.1
Interpretation. In this Agreement, unless something in the subject matter or context is inconsistent therewith, capitalized terms used and not otherwise defined in this Agreement have the meanings given to them in the Loan agreement and:

 “Agreement” means this agreement, including its recitals and schedules, as amended from time to time. 

“Collateral” has the meaning set out in Section 2.1. 

“Loan Agreement” means the loan agreement made as of —, 20— between the Debtor and the Secured Party as amended from time to time. 
 “Event of
Default” means any of the events described as “events of default” in the Loan Agreement. 
 “Obligations” means all
obligations and liabilities of any kind whatsoever of the Debtor to the Secured Party in connection with or relating to the Loan Agreement, including all debts and liabilities, present or future, direct or indirect, absolute or contingent, matured
or not, whenever, wherever and however incurred, in any currency at any time owing by the Debtor to the Secured Party or remaining unpaid by the Debtor to the Secured Party and whether the same is from time to time reduced and thereafter increased
or entirely extinguished and thereafter incurred again, whether incurred by the Debtor alone or with another or others and whether as principal or surety or otherwise, including all interest, commissions, legal and other costs, charges and
expenses. 

 The terms “accessions”, “accounts”, “chattel paper”,
“documents of title”, “goods”, “instruments”, “intangibles”, “inventory”, “money”, “proceeds” and “securities” whenever used herein have the meanings given to those
terms in the Personal Property Security Act currently in effect in the province referred to in Section 5.13 below. 
 1.2 Headings. The
division of this Agreement into Articles and Sections and the insertion of headings are for convenience of reference only and do not affect the construction or interpretation of this Agreement. The terms “hereof”, “hereunder” and
similar expressions refer to this Agreement and not to any particular Article, Section or other portion hereof. Unless something in the subject matter or context is inconsistent therewith, references herein to Articles and Sections are to Articles
and Sections of this Agreement. 1.3 Extended Meanings. In this Agreement words importing the singular number only include the plural and vice versa, words importing any gender include all genders and words importing persons include
individuals, corporations, limited and unlimited liability companies, general and limited partnerships, associations, trusts, unincorporated organizations, joint ventures and governmental authorities. The term “including” means
“including without limiting the generality of the foregoing”. The inclusion of reference to Permitted Liens in the Loan Agreement or herein, by reference or otherwise, is not intended to subordinate, and will not subordinate, the security
granted hereunder to any such Permitted Lien. 
 ARTICLE II - GRANT OF SECURITY INTEREST 

2.1 Security Interest. As general and continuing security for the payment and performance of all Obligations, the Debtor hereby grants to the Secured
Party a security interest in all of the Debtor’s present and after-acquired undertaking and property, both real and personal including, without limitation, all Lease Contracts (collectively, the “Collateral”), and, as further
general and continuing security for the payment and performance of the Obligations, the Debtor hereby also assigns the Collateral (other than trademarks) to the Secured Party and mortgages and charges the Collateral as and by way of a fixed and
specific mortgage and charge to the Secured Party. 
 2.2 Attachment of Security Interest. The Debtor acknowledges that value has been given and
agrees that the security interest granted hereby attaches upon the execution of this Agreement by the Debtor (or, in the case of any after-acquired property, at the time of acquisition by the Debtor of any rights therein). 

2.3 Real Property. The assignment, mortgage and charge granted hereby will not extend to the last day of the term of any lease or agreement relating to
real property, but the Debtor will hold such last day in trust for the Secured Party and, upon the enforcement by the Secured Party of its security, will assign such last day as directed by the Secured Party. 

ARTICLE III - DEALING WITH COLLATERAL 
 3.1
Dealing with Collateral by the Debtor. The Debtor must not sell, lease or otherwise dispose of any of the Collateral without the prior written consent of the Secured Party, except that the Debtor may, until an Event of Default occurs, deal
with its money or rent, lease or sell items of Inventory in the ordinary course of its business so that the purchaser thereof takes title thereto free and clear of the security interest, assignment and mortgage and charge granted hereby, but all
proceeds of any such sale will continue to be subject to the security granted hereby. Upon the occurrence of an Event of Default and the exercise by the Secured Party of any of its rights and remedies under Section 4.1, all money received by
the Debtor will be held by the Debtor in trust for the Secured Party and must be held separate and apart from other money of the Debtor and paid over to the Secured Party on request. 

 3.2 Rights and Duties of the Secured Party. The Secured Party may perform any of its rights and duties
hereunder by or through agents and is entitled to retain counsel and to act in reliance upon the advice of such counsel concerning all matters pertaining to its rights and duties hereunder. 

ARTICLE IV - REMEDIES 
 4.1 Consequences of a
Default. On or after the occurrence of any Event of Default that has not been either cured or waived, at the option of the Secured Party, (a) any or all of the Obligations not yet payable will become immediately payable, without
presentment, protest, notice of protest or notice of dishonour, all of which are expressly waived; (b) the obligation, if any, of the Secured Party to extend further credit to the Debtor will cease; and (c) the security granted hereby will
become immediately enforceable. 
 4.2 Remedies. In addition to any right or remedy otherwise provided herein or by law, on or after the occurrence
of any Event of Default that has not been either cured or waived, the Secured Party will have the rights and remedies set out in the Loan Agreement and those rights and remedies set forth below, all of which may be enforced successively or
concurrently: 
 (a) the Secured Party may take possession of the Collateral and require the Debtor to assemble the Collateral and deliver or
make the Collateral available to the Secured Party at such places as may be specified by the Secured Party, and neither the Secured Party nor any Receiver will be or be deemed to be a mortgagee in possession by virtue of any such actions; 

(b) the Secured Party may take such steps as it considers desirable to maintain, preserve or protect the Collateral; 

(c) the Secured Party may carry on, or concur in the carrying on of, all or any part of the business of the Debtor; 

(d) the Secured Party may have, exercise or enforce any rights of the Debtor in respect of the Collateral; 

(e) the Secured Party may sell, lease or otherwise dispose of the Collateral at public auction, by private tender, by private sale or otherwise
either for cash or upon credit, upon such terms and conditions as the Secured Party may determine and without notice to the Debtor unless required by law; 

(f) the Secured Party may accept all or any part of the Collateral in total or partial satisfaction of the Obligations in the manner provided
by law; 
 (g) the Secured Party may, for any purpose specified herein, including for the maintenance, preservation or protection of any
Collateral or for carrying on any of the business or undertaking of the Debtor, borrow money on the security of the Collateral, which security will rank in priority to the security granted hereby; 

(h) the Secured Party may occupy and use all or any of the premises, buildings and plants occupied by the Debtor and use all or any of the
Equipment and other property of the Debtor for such time as the Secured Party requires to facilitate the realization of the Collateral, free of charge and the Secured Party will not be liable for any rent, charges, depreciation or damages in
connection with such actions, nor will the Secured Party or any Receiver be or be deemed to be a mortgagee in possession by virtue of any such actions; 

 (i) the Secured Party may appoint a receiver or receiver and manager (each herein referred to as
the “Receiver”) of the whole or any part of the Collateral and may remove or replace such Receiver from time to time or may institute proceedings in any court of competent jurisdiction for the appointment of a Receiver of the
Collateral; 
 (j) the Secured Party may discharge any claim, lien, mortgage, charge, security interest, encumbrance or any rights of others
that may exist or be threatened against the Collateral, and in every such case the amounts so paid together with costs, charges and expenses incurred in connection therewith will be added to the Obligations. 

4.3 Powers of the Receiver. Any Receiver will have all of the rights and powers that the Secured Party is entitled to exercise pursuant to
Section 4.3 but the Secured Party will not be in any way responsible for any misconduct or negligence of any such Receiver. 
 4.4 Liability of
Secured Party. The Secured Party will not be liable or responsible for any failure to seize, collect, realize, or obtain payment with respect to the Collateral and is not bound to institute proceedings or to take other steps for the purpose of
seizing, collecting, realizing or obtaining possession or payment with respect to the Collateral or for the purpose of preserving any rights of the Secured Party, the Debtor or any other person in respect of the Collateral. In the exercise of its
rights and the performance of its obligations, the Secured Party will only be liable for gross negligence or wilful misconduct. 
 4.5 Proceeds of
Realization. The Secured Party may apply any proceeds of realization of the Collateral to payment of costs, fees and expenses, including those related to the realization of the Collateral, and the Secured Party may apply any balance to payment
of all other Obligations in such order as the Secured Party sees fit. If there is any surplus remaining, the Secured Party may pay it to any person entitled thereto by law of whom the Secured Party has knowledge and any balance remaining may be paid
to the Debtor. If the realization of the Collateral fails to satisfy the Obligations, the Debtor will be liable to pay any deficiency to the Secured Party. 

4.6 Waivers by Debtor. The Secured Party may (a) grant extensions of time, (b) take and perfect or abstain from taking and perfecting
security, (c) give up any security, (d) accept compositions or compromises, (e) grant releases and discharges, and (f) otherwise waive rights against the Debtor, debtors of the Debtor, guarantors and others and with respect to
the Collateral and other security as the Secured Party sees fit. No such action or omission will reduce the Obligations or affect the Secured Party’s rights hereunder. 

ARTICLE V - GENERAL 
 5.1 Appointment of
Consultant. The Secured Party will be entitled to an appoint a consultant to provide such services and advice as the Secured Party may determine in its sole discretion, with power to enter the Debtor’s premises, to inspect and evaluate the
Collateral, to make copies of the Debtor’s records, to review the Debtor’s business plans and projections, to assess the conduct and viability of the Debtor’s business, to prepare reports on the Debtor’s affairs and to distribute
such reports to the Secured Party or to other such persons as the Secured Party may direct. Such consultant will act as an agent for the Secured Party and will owe no duty to the Debtor. The consultant is to have no managerial or advisory capacity
and will have no decision making responsibility. The Debtor authorizes the Secured Party to provide confidential information to the consultant. All fees and expenses in connection with the engagement of a consultant are payable by the Debtor to the
Secured Party. 

 5.2 Waivers of Legal Limitations. To the fullest extent permitted by law, the Debtor waives all of the
rights, benefits and protections that is given by the provisions of any law that imposes limitations upon the powers, rights or remedies of a secured party, including any law that limits the rights of a secured party to both seize Collateral and sue
for any deficiency following realization of Collateral. Without limitation, the Debtor (if a corporation) agrees that the Limitation of Civil Rights Act and Part IV of the Saskatchewan Farm Securities Act of the Province of
Saskatchewan will not apply to this agreement or any of the rights, remedies or powers of the Secured Party or any Receiver hereunder. 
 5.3 Benefit of
the Agreement. This Agreement will enure to the benefit of and be binding upon the respective successors and permitted assigns of the parties. 
 5.4
Entire Agreement. This Agreement has been entered into pursuant to the provisions of the Loan Agreement and is subject to all the terms and conditions thereof and, if there is any conflict or inconsistency between the provisions of this
Agreement and the provisions of the Loan Agreement, the rights and obligations of the parties will be governed by the provisions of the Loan Agreement. This Agreement cancels and supersedes any prior understandings and agreements between the parties
with respect thereto. There are no representations, warranties, terms, conditions, undertakings or collateral agreements, express, implied or statutory, between the Secured Party and the Debtor with respect to the subject matter hereof except as
expressly set forth herein or in the Loan Agreement. 
 5.5 Amendments and Waivers. No amendment to this Agreement will be valid or binding unless
set forth in writing and duly executed by all of the parties. No waiver of any breach of any provision of this Agreement will be effective or binding unless made in writing and signed by the party purporting to give the same and, unless otherwise
provided, will be limited to the specific breach waived. 
 5.6 Assignment. The rights of the Secured Party under this Agreement may be assigned by
the Secured Party without the prior consent of the Debtor. The Debtor may not assign its obligations under this Agreement. 
 5.7 Severability. If
any provision of this Agreement is determined by any court of competent jurisdiction to be illegal or unenforceable, that provision will be severed from this Agreement and the remaining provisions will continue in full force and effect so long as
the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either of the parties. 
 5.8
Notices. Any demand, notice or other communication to be given in connection with this Agreement must be given in accordance with the Loan Agreement 

5.9 Remedies Cumulative; Additional Continuing Security. The rights and remedies of the Secured Party hereunder are cumulative and are in addition to
and not in substitution for any other security now or hereafter held by the Secured Party or any other rights or remedies available at law or in equity or otherwise. No single or partial exercise by the Secured Party of any right or remedy precludes
or otherwise affects the exercise of any other right or remedy to which the Secured Party may be entitled. This Agreement is a continuing agreement and security that will remain in full force and effect until discharged by the Secured Party. 

5.10 Further Assurances. Each of the Debtor and the Secured Party will from time to time execute and deliver all such further documents and
instruments, including financing statements and schedules, and do all acts and things as the other party may reasonably require to effectively carry out or better evidence or perfect the security granted hereby and the full intent and meaning of
this Agreement. 

 5.11 Power of Attorney. The Debtor hereby irrevocably appoints any officer for the time being of the
Secured Party the true and lawful attorney of the Debtor upon the occurrence of an Event of Default that is continuing, with full power of substitution, to do all things and execute and deliver all such documents and instruments, including financing
statements and schedules, as are referred to in Section 5.9 above, with the right to use the name of the Debtor whenever and wherever the officer may deem necessary or expedient and from time to time to exercise all rights and powers and to
perform all acts of ownership in respect to the Collateral in accordance with this Agreement. 
 5.12 Discharge. The Debtor will be entitled to a
discharge of this Agreement and termination of any and all commitments under the Loan Agreement or under any other Loan Document upon written request by the Debtor and full and irrevocable payment, performance and satisfaction of the Obligations. No
discharge will be effective unless in writing and executed by the Secured Party. 
 5.13 Governing Law. This Agreement is governed by and will be
construed in accordance with the laws of the Province of — and the laws of Canada applicable therein. 

5.14 Copy of Documents and Consent to Filings. The Debtor acknowledges having received a fully executed copy of this Agreement and, to the extent
permitted by applicable law, waives all rights to receive from the Secured Party a copy of any financing statement, financing change statement, or verification statement, filed or issued at any time in respect of this Agreement. The Debtor confirms
its consent to the filing by the Secured Party or on its behalf of any financing statement or financing change statement filed or issued at any time in respect of this Agreement. 

IN WITNESS WHEREOF the parties have executed this Agreement. 
  

							
	 DEBTOR
	 		    	—	 	
				
		 	Per:	    		 	
	  
	 	    	  

	Date of Execution	 		    	Name:	 	
		 		    	Title:	 	
		 		    		 	c/s
			
		 		    	  

		 		    	Name:	 	
		 		    	Title:	 	
			
	SECURED PARTY:	 		    	SUNTRUST BANK
				
		 	Per:	    		 	
	  
	 	    	  

	Date of Execution	 		    	Name:	 	
		 		    	Title:	 	
				
		 		    		 	c/s
			
		 		    	  

		 		    	Name:	 	
		 		    	Title:	 	

 EXHIBIT F 

FORM OF PAYOR’S PAD AGREEMENT 

Business Pre-Authorized Debit Plan* - 

Authorization of the Payor to the Payee to Direct Debit an Account 

Instructions: 
  

	1.	Please complete all sections in order to instruct your financial institution to make payments directly from your account. 

  

	2.	Please sign the Terms and Conditions that are part of this document. 

  

	3.	Return the completed form with a blank cheque marked “VOID” to the Payee at the address noted below. 

  

	4.	If you have any questions, please write or call the Payee. 

 PAYOR INFORMATION (Please type or
print clearly) 
  

			
	Payor Name:
	 
	Address:	  	 
	 	  	 
	 Telephone:

 
	  	 
	Name(s) of Authorized Signing Officer(s):	  	 
	 	  	 
	Signature(s) of Authorized Signing Officer(s):	  	Date:
	 	  	 

 PAYOR FINANCIAL INSTITUTION/BANKING INFORMATION (Please type or print clearly) 

 

																																									
	
Branch Number
  
	  	Institution #	 	Account Number	  	 
	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 
	 Name of Financial Institution

 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 
	 Branch

 
	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 
	 Branch Address

 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 
	 City/Province

 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Postal Code	 	 	 	 	  	 

 PAYEE INFORMATION (Please type or print clearly) 

 

	
	 Payee Name:

 

	
Address:
 Number, Street/Avenue/Blvd/Crsc/ City/Province/Postal
Code
  

	
Telephone:
 Fax:

Email:
  

 PAYMENT INFORMATION (Please type or print clearly) 

 

					
	 Please
specify whether the payment is a:
 (Please check one)
	 	 ̈	  	 Fixed Amount: (Please specify)

	 	  
  ̈
	  	  

Variable Amount: If variable, please specify whether there is a maximum amount or indicate N/A if there is no maximum amount:
            
  

	 Occurring at:

(Please check one)
	 	 ̈	  	 Set intervals: Please specify the timing (i.e. weekly, bi-weekly, monthly)

	 	  

Sporadic intervals
  

The Payor must describe the occurrence of an Event or other criteria that will trigger the debit of the account 

	 		 
	 	 	  ̈
	  	 Mandatory description here:
            
  

	 Are top-ups or adjustments
permissible?
 (Please check one)
  
	 	  ̈

 
  ̈
	  	 Yes

 
 No

	 	  

  

	*	This form is for PADs which relate to commercial activities of a Payor who is a corporation, organization, trade, association, government entity, profession, venture or enterprise. 

 PAYOR’S PAD AGREEMENT 

Business Pre-Authorized Debit Plan 

Terms & Conditions 
  

									
		  	1.	  	In this Agreement “we”, “us” and “our” refers to the Payor indicated on page 1.
			
		  	 2.
	  	 We agree to participate in this Business Pre-Authorized Debit Plan and we authorize the Payee indicated on page 1 and any
successor or assign of the Payee to draw a debit in paper, electronic or other form for the purpose of making payment for goods or services related to our commercial activities (a “Business PAD”) on our account indicated on the page 1 (the
“Account”) at the financial institution indicated on page 1 (the “Financial Institution”) and we authorize the Financial Institution to honour and pay such debits.

 
 This Agreement and our authorization are provided for the benefit of the Payee and our
Financial Institution and are provided in consideration of our Financial Institution agreeing to process debits against our Account in accordance with the Rules of the Canadian Payments Association.

 
 We agree that any direction we may provide to draw a Business PAD, and any Business PAD
drawn in accordance with this Agreement, shall be binding on us as if signed by us, and, in the case of paper debits, as if they were cheques signed by us.

			
		  	 3.
	  	 We may revoke or cancel this Agreement at any time upon notice being provided by us either in writing or orally. We acknowledge
that in order to revoke or cancel the authorization provided in this Agreement, we must provide notice of revocation or cancellation to the Payee.
  

This Agreement applies only to the method of payment and we agree that revocation or cancellation of this Agreement does not terminate or otherwise have any
bearing on any contract that exists between us and the Payee.
  
 The Payee shall use best
efforts to cancel the Business PAD in the next business, billing or processing cycle but shall within not more than 30 days from the notice cease to issue any new Business PADs.

 
 We understand that we may obtain a sample cancellation form, or further information on our
right to cancel a PAD Agreement, at our financial institution or at www.cdnpay.ca.

			
		  	4.	  	We agree that our Financial Institution is not required to verify that any Business PAD has been drawn in accordance with this Agreement, including the amount, frequency and fulfillment of any purpose of any Business
PAD.
			
		  	5.	  	We agree that delivery of this Agreement to the Payee constitutes delivery by us to our Financial Institution. We agree that the Payee may deliver this Agreement to the Payee’s financial institution and agree to the
disclosure of any information which may be contained in this Agreement to such financial institution.
				
	Delete either 6(a) or 6(b) as applicable	  	6.	  	(a)	  	We understand that with respect to:
	  		  		  	(i)	  	fixed amount Business PADs occurring at set intervals, we shall receive written notice from the Payee of the amount to be debited and the due date(s) of debiting, at least 10 calendar days before the first Business PAD, and such
notice shall be received every time there is a change in the amount or payment date(s), except as provided in clause (iii) below;
	  		  		  	(ii)	  	variable amount Business PADs occurring at set intervals, we shall receive written notice from the Payee of the amount to be debited and the due date(s) of debiting, at least 10 calendar days before the due date of every Business
PAD, except as provided in clause (iii) below; and
		  		  		  	(iii)	  	fixed amount and variable amount Business PADs occurring at set intervals, where the Business PAD Plan provides for a change in the amount of such fixed and variable amount PADs as a result of our direct action (such as, but not
limited to, a telephone instruction) requesting the Payee to change the amount of a PAD, no pre-notification of such changes is required.

											
		  	- OR -	 		 	
			
	If Payor agrees to waive pre-notification, Payor must sign where indicated	  		  	  (b) We agree to waive the pre-notification requirements in section 6(a) of this Agreement.
	  		  		 	  

Signature of Payor
	 		 	  

Signature of Payor

	  		  		 	 		 
			
		  	7.	  	 We agree that with respect to Business PADs, where the payment frequency is sporadic, an authorization given using a password or secret code or
other signature equivalent that is issued to us shall constitute a valid authorization for the Payee or its agent to debit our account.

			
		  	8.	  	 We may dispute a Business PAD by providing a signed declaration to our Financial Institution under the following conditions:

				
		  		  	  (a)	 	the Business PAD was not drawn in accordance with this Agreement;
				
		  		  	  (b)	 	this Agreement was revoked or cancelled; or
				
		  		  	  (c)	 	any pre-notification required and not waived by section 6(b) was not received by us.
			
		  		  	We acknowledge that, in order to obtain reimbursement from our Financial Institution for the amount of a disputed Business PAD, we must sign a declaration to the effect that either (a), (b) or (c) above took place and
present it to our Financial Institution up to and including but not later than ten (10) business days after the date on which the disputed Business PAD was posted to our Account.
			
		  		  	We acknowledge that, after this ten (10) business day period, we shall resolve any dispute regarding a Business PAD solely with the Payee, and that our Financial Institution shall have no liability to us respecting any
such Business PAD.
			
		  	9.	  	We certify that all information provided with respect to the Account is accurate and we agree to inform the Payee, in writing, of any change in the Account information provided in this Agreement at least ten (10)
business days prior to the next due date of a Paper and/or Electronic Business PAD. In the event of any such change, this Agreement shall continue in respect of any new account to be used for Business PADs.
			
		  	10.	  	We have certain recourse/reimbursement rights if any debit does not comply with this Agreement. For example, we have the right to receive reimbursement for any debit that is not authorized or is not consistent with this
PAD Agreement. To obtain more information on our recourse/reimbursement rights, we may contact our financial institution or visit the CPA website at www.cdnpay.ca.
			
		  	11.	  	 We warrant and guarantee that all persons whose signatures are required to sign on the Account have signed this Agreement below. In addition we
warrant and guarantee, where applicable, that we have the authority to electronically agree to commit to this Agreement by secure electronic signature and that our secure electronic signature conforms with the requirements of Rule H1.

			
	  
 If Payee intends to use a payment provider must include
statement
	  	12.	  	We agree that a payment service provider will administer the PAD. [INSERT NAME] will be administering the PAD.

									
		  	13	  	 We understand and agree to the foregoing terms and conditions.

			
		  	14.	  	 We agree to comply with the Rules of the Canadian Payments Association, or any other rules or regulations which may affect the services
described herein, as may be introduced in the future or are currently in effect and we agree to execute any further documentation which may be prescribed from time to time by the Canadian Payments Association in respect of the services described
herein.

			
		  	15.	  	 Applicable to the Province of Quebec only: It is the express wish of the parties that this Agreement and any related documents be drawn
up and executed in English. Les parties conviennent que la présente convention et tous les documents s’y rattachant soient rédigés et signés en anglais.

		  		  		  		  	

  

											
	  
	 	Per:	 		 	  
	 		 	  

	Name of Payor	 		 		 	Signature of Authorized Signing Officer	 		 	Date
		 		 		 	Name:	 		 	
		 		 		 	Title:	 		 	
						
		 	Per:	 		 	  
	 		 	  

		 		 		 	Signature of Authorized Signing Officer	 		 	Date
		 		 		 	Name:	 		 	
		 		 		 	Title:	 		 	

 EXHIBIT C 

 EXHIBIT C 

TO 
 THIRD
AMENDED AND RESTATED LOAN FACILITY AGREEMENT 
 AND GUARANTY 

FORM OF LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of
                    , is made between
                     (“Borrower”), and SUNTRUST BANK (“Bank”), a Georgia banking corporation having its principal office in
Atlanta, Georgia. 
 W I T N E S S E T H: 

WHEREAS, Borrower engages in the business of leasing and selling furniture, electronics, appliances, and other household goods and is a
franchisee of Aaron’s, Inc., a Georgia corporation formerly known as Aaron Rents, Inc. (“Aaron”); 
 WHEREAS, Borrower has
requested and Bank has agreed to provide financing to Borrower; 
 WHEREAS, Borrower and Bank wish to enter into this Agreement to set forth
the terms and conditions of Bank’s establishment of a credit facility for Borrower; 
 THEREFORE, upon the terms and conditions
hereinafter stated, and in consideration of the mutual premises set forth above and other adequate consideration, the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows: 

1. DEFINITIONS AND RULES OF CONSTRUCTION 

1.1. As used in this Agreement, the following terms shall have the meanings set forth below (terms defined in the singular to have the same
meaning when used in the plural and vice versa): 
 “Aaron’s Proprietary System” shall mean Aaron’s proprietary
point of sale software system, as modified from time to time, used by Aaron and its franchisees, such as Borrower. 

“Account” means any right of Borrower to payment for goods sold or leased or for services rendered which is not evidenced by
an Instrument or Chattel Paper, whether or not earned by performance. 
 “Account Debtor” means any Person who is liable on
an Account. 
 “Advance” shall mean an advance of funds by Bank on behalf of Borrower pursuant to the Line of Credit Note
or Revolving Note executed by Borrower. 
 “Agreement” means this Loan and Security Agreement and all exhibits, riders and
schedules at any time executed by the parties and made a part hereof by reference, either as originally executed or as hereafter amended, restated, modified or supplemented from time to time. 

 “Anti-Corruption Laws” shall mean all laws, rules, and regulations of any
jurisdiction applicable to the Borrower and its Subsidiaries from time to time concerning or relating to bribery or corruption. 

“Anti-Terrorism Order” shall mean Executive Order 13224, signed by President George W. Bush on September 23, 2001. 

“Applicable Law” means all laws, rules and regulations applicable to the Person, conduct, transaction, covenant or Loan
Documents in question, including, without limitation, all applicable law and equitable principles; all provisions of all applicable state and federal constitutions, statutes, rules, regulations and orders of governmental bodies; and all orders,
judgments and decrees of all courts and arbitrators. 
 “Approved Invoice” means an invoice for the aggregate purchase
price of Merchandise purchased by Borrower with a purchase order approved by Aaron. 
 “Asset Disposition” shall mean
(i) all sales of Merchandise; (ii) all Merchandise which is determined to have been stolen; (iii) all Merchandise that is destroyed, lost or otherwise removed from the premises of Borrower other than pursuant to a Lease Contract or by
outright sale or for repair work; and (iv) all “skipped” Merchandise which is Merchandise subject to a Lease Contract. 

“Asset Disposition Prepayment” shall have the meaning set forth in Section 2.12(b) hereof. 

“Balances” means all monies and funds of Borrower at any time on deposit with Bank. 

“Bank” shall mean SunTrust Bank and its successors and assigns. 

“Bankruptcy Code” means the Bankruptcy Reform Act of 1978, as may be amended from time to time. 

“Books and Records” means all of Borrower’s books and records evidencing or relating to its business, financial
condition or the Collateral, including, but not limited to, all customer lists, ledgers, invoices, purchase orders, financial statements, computer tapes and disks. 

“Borrowing Base” shall mean, on any date of determination, an amount equal to [    ] multiplied by Rental
Revenue for the most recently ended three calendar months. 
 “Borrowing Base Report” shall have the meaning set forth in
Section 2.5(iv) hereof. 
 “Business Day” shall mean any day other than a Saturday, Sunday or a day on which
commercial banks in Atlanta, Georgia are authorized by law to close. 
 “Chattel Paper” shall have the meaning ascribed to
it in the Code. 
 “Closing Date” shall mean for (i) the Revolving Commitment, the date set forth in the Revolving
Note on which all Loan Documents have been executed and delivered and the conditions precedent to funding the loan have been satisfied, (ii) the Term Loan, the date set forth in the Term Note on which all Loan Documents have been executed and
delivered and the conditions precedent to funding the loan have been satisfied and (iii) the Line of Credit Commitment, the date set forth in the Line of Credit Note on which all Loan Documents have been executed and delivered and the
conditions precedent to funding the loan have been satisfied. 

 “Closing Fee” shall have the meaning given to such term in Section 2.13
hereof. 
 “Code” means the Uniform Commercial Code as in effect from time to time in the State of Georgia. 

“Collateral” shall have the meaning given to such term in Section 3.1 hereof. 

“Collateral Agreement” means an agreement executed by Borrower and any other Persons primarily or secondarily liable for all
or part of the Loans or granting a security interest to Bank in specified Collateral as security for the Loans, including without limitation, this Agreement and any Guaranties. 

“Commitment Fee” shall have the meaning set forth in Section 2.14 hereof. 

“DDA Account” shall mean Borrower’s Demand Deposit Account into which Bank shall deposit the Advances for the purpose of
(i) paying, by means of ACH transfer, Approved Invoices arising from purchases of Merchandise from a supplier, including any freight charges to the extent Aaron consents thereto, (ii) paying, to Borrower’s own account (or, with the
written consent of Aaron, such other account for which wiring instructions have been provided to the Bank) upon the consent of Aaron, state use taxes associated therewith, and (iii) paying, to Borrower’s own account (or, with the written
consent of Aaron, such other account for which wiring instructions have been provided to the Bank) any other items to the extent expressly permitted to be paid hereunder. 

“Debt” means (i) indebtedness for borrowed money or for the deferred purchase price of property or services (other than
trade accounts payable on customary terms in the ordinary course of business), (ii) financial obligations evidenced by bonds, debentures, notes or other similar instruments, (iii) financial obligations as lessee under leases which shall
have been or should be, in accordance with GAAP, recorded as capital leases, and (iv) obligations under direct or indirect guaranties in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to
assure a creditor against loss in respect of, indebtedness or financial obligations of others of the kinds referred to in clauses (i) through (iii) above. 

“Debt Service” shall mean, for any particular period, the total required payments of principal (excluding any payments of
principal required to be made as a result of any Asset Disposition), interest and fees made by Borrower with respect to its Debt (other than Debt of the Borrower which is subordinated to the Loan Indebtedness owing to the Bank pursuant to a
subordination agreement in form and substance satisfactory to the Bank) during such period to the extent that such Debt arises pursuant to this Agreement or any other financing arrangement with respect to Merchandise. 

“Default Condition” means the occurrence of any event which, after satisfaction of any requirement for the giving of notice
or the lapse of time, or both, would become an Event of Default. 
 “Default Rate” means the annual percentage interest
rate applied to the principal of the Loans not paid when due under the terms of the applicable Loan Documents, which rate shall equal the sum of two percent (2%) per annum plus the Floating Rate. 

“Delinquent Payment Fee” shall have the meaning given to such term in Section 2.15 hereof. 

“Documents” shall have the meaning ascribed to it in the Code. 

 “Environment” means navigable waters, waters of the contiguous zone, ocean
waters, natural resources, surface waters, ground water, drinking water supply, land surface, subsurface strata, ambient air, both inside and outside of buildings and structures. 

“Environmental Laws” means federal, state, local and foreign laws, principles of common law, regulations and codes, as well
as orders, decrees, judgments or injunctions issued, promulgated, approved or entered thereunder relating to pollution, protection of the environment or public health and safety, including, but not limited to the release or threatened release of
Hazardous Substances into the Environment or otherwise relating to the presence, manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Substances. 

“Equipment” means all machinery, equipment, furniture, fixtures, motor vehicles and other tangible personal property (other
than Inventory) of Borrower, including, but not limited to, all items described on the Equipment Schedule (if attached) and all substitutions and replacements thereof. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“Event of Default” shall have the meaning given to such term in Section 9 hereof. 

“Floating Rate” means a rate of interest per annum equal to the Prime Rate plus an additional [four and three-quarters]
percent ([4.75%]6) per annum, such rate to change as and when the Prime Rate changes. 

“Franchise Agreement” means the written agreement between Aaron and Borrower whereby Borrower is authorized to establish an
“Aaron’s” franchise. 
 “GAAP” means generally accepted accounting principles in the United States,
consistently applied. 
 “General Intangibles” shall have the meaning ascribed to it in the Code and shall include, without
limitation, all of Borrower’s tax refund claims, patents, copyrights, licenses, trademarks, trade names, service marks, patent applications and choses in action. 

“Guarantor” means each Person who now or hereafter guarantees payment of the whole or any part of the Loan Indebtedness. 

“Guaranty” means any guaranty agreement executed by each of the partners, shareholders, and where not prohibited by law, the
spouses of such persons, of Borrower, or such other Persons as may be required by the Bank, in favor of the Bank with respect to the obligations of Borrower with respect to the Loans in the form provided by the Bank, as the same may be amended,
restated or supplemented from time to time. 
 “Hazardous Substances” means any waste, pollutant, hazardous substance,
toxic substance, hazardous waste, special waste, industrial substance or waste, petroleum or petroleum-derived substance or waste, or any constituent of any such substance or waste, including without limitation, any such substance regulated under or
defined by any Environmental Law. 
 “Instrument” shall have the meaning ascribed to it in the Code. 

 

	6 	Note: This interest rate shall be as designated by Aaron’s in the applicable loan Funding Approval Notice. 

 “Inventory” means all inventory of Borrower, including, without limitation, all
raw materials, work-in-process, finished goods, goods being leased pursuant to Lease Contracts, and other goods held by Borrower for sale or lease or furnished under
contracts of service. 
 “Investment Property” shall have the meaning ascribed to it in the Code. 

“Lease Contract” means a contract between Borrower and a customer to lease Merchandise in the form approved by Aaron (and
which may include purchase options). 
 “Lien” means any interest in property securing an obligation, whether such interest
is based on the common law, statute or contract, including, without limitation, a security interest, lien or security title arising from a security agreement, mortgage, security deed, trust deed, pledge or condition sale, or a lease, consignment or
bailment for security purposes. 
 “Line of Credit Commitment” means the committed line of credit facility established by
the Bank in favor of Borrower in the amount set forth in the Line of Credit Note and upon the terms described in this Agreement. 

“Line of Credit Loan” means a loan or an advance made by the Bank to the Borrower under its Line of Credit Commitment. 

“Line of Credit Note” means a note executed by Borrower in favor of Bank, substantially in the form of Exhibit A-1
attached hereto in the committed principal amount of the Bank’s Line of Credit Commitment evidencing the obligation of the Borrower to repay its Line of Credit Loans. 

“Loan Account” means the internal bank loan account established by the Bank for Borrower. 

“Loan Documents” means this Agreement, the Notes, the Collateral Agreements, any other documents relating to the Loans
delivered by Borrower or any guarantor or surety thereof to the Bank and any amendments thereto. 
 “Loan Indebtedness”
means all amounts due and payable by Borrower under the terms of the Loan Documents with respect to the Loans made thereunder, including, without limitation, outstanding principal, accrued interest, any late charges, and all reasonable costs and
expenses of any legal proceeding brought by the Bank to collect any of the foregoing (including without limitation, reasonable attorneys’ fees). 

“Loans” means the Line of Credit Loans, Revolving Loans or Term Loans. 

“Loan Term” shall have the meaning set forth in Section 2.8 hereof. 

“Maturity Date” shall mean for (i) the Revolving Commitment, the date set forth in the Revolving Note, (ii) the
Term Loan, the date set forth in the Term Note and (iii) the Line of Credit Commitment, the date set forth in the Line of Credit Note. 

“Merchandise” means goods distributed or sold to Borrower through Aaron. 

“Net Book Value” means, for any item of Merchandise, the cost of such Merchandise less accumulated depreciation as
calculated in accordance with the Aaron’s Proprietary System. 
 “Note” means the Line of Credit Note, the Revolving
Note, or the Term Note, as the case may be. 

 “Opening Date” shall mean with respect to each store location, the date
determined by Aaron to be the opening date of such location in accordance with its standard practice, as notified to the Bank. 

“Patriot Act” shall mean the USA PATRIOT Improvement and Reauthorization Act of 2005 (Pub. L. 109-177 (signed into law
March 9, 2006)), as amended and in effect from time to time. 
 “Payment Date” shall mean the last day of each
calendar month; provided, however, if such day is not a Business Day, the next succeeding Business Day. 
 “Permitted
Liens” means Liens in favor of Bank or Aaron; Liens for taxes not yet due or payable; statutory Liens securing the claims of materialmen, mechanics, carriers and landlords for labor, materials, supplies or leases incurred in the ordinary
course of Borrower’s business, but only if payment thereof is not at the time required and such Liens are at all times junior in priority to the Liens in favor of Bank; Liens shown on Exhibit B (if any); and Liens hereafter consented to
by Bank in writing. 
 “Person” means a corporation, an association, partnership, an organization, a business, a business
trust, a limited liability company, an individual, a government or political subdivision thereof or a governmental agency. 
 “Prime
Rate” means the per annum rate of interest designated from time to time by the Bank to be its prime rate, with any change in the rate of interest resulting from a change in the Prime Rate to be effective as of the opening of business of the
Bank on the day of such change. The prime rate is one of several reference rates used by the Bank and the Bank makes loans at rates both higher and lower than the Prime Rate. 

“Quarterly Covenant Compliance Report” shall mean that Quarterly Covenant Compliance Report substantially in the form of
Exhibit D attached hereto. 
 “Rental Revenue” means, for any period, the gross revenues of Borrower from leases to
the public of Borrower’s furniture inventory, computer, electronics, appliances and lease equipment including, without limitation, all customer deposits, advance lease payments, waiver fees, late fees, delivery fees, nonsufficient fund fees,
reinstatement fees, but excluding all retail sales proceeds and sales taxes. 
 “Revolving Commitment” means the committed
revolving facility established by the Bank in favor of Borrower in the amount set forth in the Revolving Note and upon the terms described in this Agreement. 

“Revolving Loan” means a loan or an advance made by the Bank to the Borrower under its Revolving Commitment. 

“Revolving Note” means a note executed by Borrower in favor of Bank, substantially in the form of Exhibit A-2 attached
hereto, in the committed principal amount of the Bank’s Revolving Commitment evidencing the obligation of the Borrower to repay its Revolving Loans. 

“Sanctioned Country” shall mean, at any time, a country or territory that is, or whose government is, the subject or target
of any Sanctions. 
 “Sanctioned Person” shall mean, at any time, (a) any Person listed in any Sanctions-related list
of designated Persons maintained by OFAC, the U.S. Department of State, the United Nations Security Council, the European Union or any EU member state, (b) any Person located, organized or resident in a Sanctioned Country or (c) any Person
controlled by any such Person. 

 “Sanctions” shall mean economic or financial sanctions or trade embargoes
administered or enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of
the United Kingdom. 
 “Solvent” means, as to any Person, such Person (i) is able to pay, and does pay, its debts as
they mature and (ii) has a positive tangible net worth determined in accordance with GAAP. 
 “Spousal Consent” shall
mean any agreement provided by the spouse of any Person executing a Guaranty to the extent such spouse has not personally executed a Guaranty, to be substantially in the form provided by the Bank. 

“Subsidiary” means any corporation or other entity of which securities or other ownership interests having ordinary voting
power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by Borrower. 

“Term Loan” shall mean a single loan made by the Bank to the Borrower in an amount not to exceed the Term Loan Commitment.

 “Term Loan Commitment” shall mean the obligation of the Bank to make a Term Loan in favor of Borrower in the
amount set forth in the Term Note and upon the terms described in this Agreement. 
 “Term Note” means a note executed by
Borrower in favor of Bank, substantially in the form of Exhibit A-3 attached hereto in the committed principal amount of the Bank’s Term Loan Commitment evidencing the obligation of the Borrower to repay its Term Loan. 

1.2. Accounting Terms and Determination. Accounting terms used in this Agreement such as “amortization,”
“depreciation,” “interest expense,” and “tangible net worth” shall have the meaning normally given them by, and shall be calculated (both as to amounts and classification of items) in accordance with, GAAP. Any pronoun
used herein shall be deemed to cover all genders. All references to statutes and related regulations shall include any amendments of same and any successor statutes and regulations, and all references to any instruments or agreements, including,
without limitation, references to any of the Loan Documents, shall include any and all modifications or amendments thereto and any and all extensions or renewals thereof. 

2. LOAN; USE OF PROCEEDS. 
 2.1.
Establishment of DDA Account; Loan Account. (a) Prior to the Closing Date, Bank shall establish a DDA Account for Borrower. 

(b) Prior to the Closing Date, Bank shall also establish on its books an internal loan account in Borrower’s name (the “Loan
Account”) in which Bank shall record, in accordance with customary accounting practice, all charges, expenses and other items properly chargeable to Borrower; all payments made by Borrower on account of indebtedness evidenced by the Loan
Account; all proceeds of Collateral which are finally paid to Bank at its office in cash or solvent credits; and other appropriate debits and credits. The debit balance of the Loan Account shall reflect the amount of Borrower’s Loan
Indebtedness from time to time by reason of the Loans and other appropriate charges hereunder. At least 

 
once each month, Bank shall render a statement of account for the Loan Account, which statement shall be considered correct, and accepted by and conclusively binding upon Borrower, unless
Borrower notifies Bank to the contrary within thirty (30) days after Bank’s sending of said statement to Borrower. 
 2.2.
Establishment of Line of Credit Loan. Any Line of Credit Commitment now or hereafter committed to by Bank pursuant to which Borrower shall execute and deliver to Bank a Line of Credit Note shall be governed by and issued pursuant to the
provisions, terms and conditions set forth herein. 
 2.3. Line of Credit Advances. (i) Upon Borrower’s execution of this
Agreement and a Line of Credit Note and compliance with the terms of this Agreement ,and subject to Bank’s confirmation if requested by Aaron that Bank has a first priority security interest in the Collateral, Bank shall notify Borrower that
Borrower may request Advances pursuant to the Line of Credit Commitment. Bank shall make such Advances into the DDA Account (or, with the written consent of Aaron, such other account for which wiring instructions have been provided to Bank) for the
sole purposes of (x) honoring requests from Borrower, made through the Aaron’s Proprietary System, for ACH transfers to suppliers of Merchandise in payment of Approved Invoices, including any freight charges to the extent Aaron consents
thereto, or with Aaron’s consent, to Borrower’s own account for the payment of sales use taxes, and (y) honoring requests from Borrower for Advances made via wire transfers (or such other method approved in writing by Aaron and
acceptable to Bank) to the DDA Account (or, with the written consent of Aaron, such other account of Borrower or of a third party for which wiring instructions have been provided to Bank) for working capital and for any other lawful purposes, in
each case, to the extent approved in writing by Aaron. Borrower shall not use the DDA Account for any other purpose. The maximum principal amount of Advances under the Line of Credit Commitment at any time outstanding shall not exceed the committed
amount of the Line of Credit Commitment. Each Advance shall be in the amount of not less than $500. 
 (ii) Borrower shall submit purchase
order requests for Merchandise to Aaron from time to time. In the event that the purchase order is authorized pursuant to the Franchise Agreement, Aaron will prepare the purchase order and submit the same to the appropriate supplier requested by
Borrower. The supplier will be instructed to ship all Merchandise directly to Borrower and Borrower will be responsible for (i) inspecting all Merchandise and resolving all disputes regarding the Merchandise with such supplier and
(ii) paying all freight and other shipping and/or insurance charges arising in connection therewith with funds other than Loan proceeds, unless otherwise agreed by Aaron. The supplier will invoice Borrower for such Merchandise in accordance
with normal industry practice. When Borrower wishes to pay such invoice, Borrower, subject to availability of the Line of Credit Commitment, shall pay such invoice by directing Bank, through the Aaron’s Proprietary System, to pay such invoice
by means of an ACH transfer (or such other method approved in writing by Aaron and acceptable to Bank) from its DDA Account. Any directions for ACH transfers correctly inputted into the Aaron’s Proprietary System prior to 12:00 Midnight
(Atlanta, Georgia time) on any Business Day, shall be paid by Bank no later than the third Business Day thereafter, unless Borrower is otherwise notified by Aaron or Bank. 

(iii) Upon receipt of the request for an ACH transfer (provided that such request relates to an Approved Invoice), Bank shall honor such
request by making an Advance pursuant to the Line of Credit Commitment in the amount of such request into Borrower’s DDA Account and automatically forwarding such amount to the supplier by means of an ACH transfer in accordance with the
instructions of Borrower. Upon receipt of any request by Borrower to deposit funds into another account in the name of Borrower or in the name of a third party, and receipt of Aaron’s written approval thereof, Bank shall honor such request by
making an Advance pursuant to the Line of Credit Commitment in the amount of such request into Borrower’s DDA Account (or, with the written consent of Aaron, such other account for which wiring instructions have been provided to Bank). In the
event that a request for an ACH transfer 

 
(or other method of transfer approved in writing by Aaron and acceptable to Bank) is presented for payment and Borrower’s availability pursuant to the Line of Credit Commitment is
insufficient to honor such request, Bank may, but shall have no obligation to, make such overadvance, which shall be an Advance for all purposes hereunder, but shall be due and payable upon demand. At the end of each calendar month, Bank shall
provide Borrower with a monthly DDA Account statement in the form customarily used by Bank for its commercial customers and a loan account statement. 

(iv) The aggregate amount of Advances made to the Borrower during such month shall be amortized into eighteen (18) or twenty-four
(24) (as designated by Aaron in writing from time to time) equal payments of principal due and payable on the next succeeding Payment Dates; provided that, in the event that Bank terminates the Line of Credit Commitment as provided in
Section 2.8 below, all outstanding amounts shall be due and payable on the 24th Payment Date following such termination. 
 2.4.
Establishment of Revolving Loan. Any Revolving Commitment now or hereafter committed to by Bank pursuant to which Borrower shall execute and deliver to Bank a Revolving Note shall be governed by and issued pursuant to the provisions, terms
and conditions set forth herein. 
 2.5. Revolving Advances. (i) Upon Borrower’s execution of this Agreement and a
Revolving Note and compliance with the terms of this Agreement and subject to Bank’s confirmation if requested by Aaron that Bank has a first priority security interest in the Collateral, Bank shall notify Borrower that Borrower may request
Advances pursuant to the Revolving Commitment. Bank shall make such Advances into the DDA Account (or, with the written consent of Aaron, such other account for which wiring instructions have been provided to Bank) solely for the purposes specified
in Section 2.3. The maximum principal amount of Advances under the Revolving Commitment at any time outstanding shall not exceed the lesser of (A) the committed amount of the Revolving Commitment and (B) the sum of the Borrowing Base
minus the outstanding principal amount of the Term Loan, as most recently reported by Aaron to Bank pursuant to Section 2.5(iv) hereof (such lesser amount herein referred to as the “Revolver Availability”). Each Advance shall be in
the amount of not less than $500. 
 (ii) Borrower shall submit purchase order requests for Merchandise to Aaron. In the event that the
purchase order is authorized pursuant to the Franchise Agreement, Aaron will prepare the purchase order and submit the same to the appropriate supplier requested by Borrower. The supplier will be instructed to ship all Merchandise directly to
Borrower and Borrower will be responsible for (i) inspecting all Merchandise and resolving all disputes regarding the Merchandise with such supplier and (ii) paying all freight and other shipping and/or insurance charges arising in
connection therewith with funds other than Loan proceeds, unless otherwise agreed by Aaron. The supplier will invoice Borrower for such Merchandise in accordance with normal industry practice. When Borrower wishes to pay such invoice, Borrower,
subject to the Revolver Availability, shall pay such invoice by directing Bank, through the Aaron’s Proprietary System, to pay such invoice by means of an ACH transfer from its DDA Account. Any directions for ACH transfers correctly inputted
into the Aaron’s Proprietary System prior to 12:00 Midnight (Atlanta, Georgia time) on any Business Day, shall be paid by Bank no later than the third Business Day thereafter, unless Borrower is otherwise notified by Aaron or Bank. 

(iii) Upon receipt of the request for an ACH transfer (provided that such request relates to an Approved Invoice), Bank shall honor such
request by making an Advance pursuant to the Revolving Commitment in the amount of such request into Borrower’s DDA Account and automatically forwarding such amount to the supplier by means of an ACH transfer in accordance with the instructions
of Borrower. Upon receipt of any request by Borrower to deposit funds in another account in the name of Borrower or in the name of a third party, and receipt of Aaron’s written approval thereof, Bank shall honor such request by making an
Advance pursuant to the Revolving Commitment in the amount of such request into Borrower’s DDA Account (or, with the written consent of Aaron, such other account for 

 
which wiring instructions have been provided to Bank). In the event that a request for an ACH transfer (or such other method of transfer approved in writing by Aaron and acceptable to Bank) is
presented for payment and Borrower’s availability pursuant to the Revolving Commitment is insufficient to honor such request, Bank may, but shall have no obligation to, make such overadvance, which shall be an Advance for all purposes
hereunder, but shall be due and payable upon demand. At the end of each calendar month, Bank shall provide Borrower with a monthly DDA Account statement in the form customarily used by Bank for its commercial customers and a loan account statement.

 (iv) On the fifth Business Day of each month, for Borrowers with a Revolving Loan (as determined on the last day of the preceding
calendar month), Aaron shall calculate the Borrowing Base and report the same to Bank in writing (the “Borrowing Base Report”), and Bank shall be entitled to rely conclusively upon such information. Upon receipt of the Borrowing Base
Report, Bank shall input such information into Bank’s loan records to be effective as of the date which is two Business Days after receipt of such information. On the 15th day of each
calendar month, Bank shall mail to Borrower a bill setting forth the total amount of principal (to the extent that the aggregate outstanding principal amount of the Revolving Loans exceeds the lesser of the Revolving Commitment or the Borrowing Base
as set forth in the most recent Borrowing Base Report) and interest due on the next Payment Date which bill shall be considered correct, and accepted by and conclusively binding upon Borrower, unless Borrower notifies Bank to the contrary within
thirty (30) days after Bank’s sending of said bill to Borrower. In addition, Bank, on the date which is two Business Days after receipt of the Borrowing Base Report from Aaron, shall notify Borrower in writing (including facsimile) of the
new Borrowing Base for Borrower and shall require that Borrower repay on the next Payment Date any additional Advances made since the date of the preparation of the statement for such Payment Date if necessary to avoid any overadvance as of such
date and such amount (in addition to any amounts set forth in the bill to Borrower) shall be due and payable on the next Payment Date. 

2.6. Term Loan. Any Term Loan Commitment now or hereafter committed to by Bank pursuant to which Borrower shall execute and deliver to
Bank a Term Note shall be governed by and issued pursuant to the provisions, terms and conditions set forth herein. Upon Borrower’s execution of this Agreement and a Term Note and compliance with the terms of this Agreement and subject to
Bank’s confirmation if requested by Aaron that Bank has a first priority security interest in the Collateral, Bank may make a Term Loan to the Borrower in a principal amount not to exceed the Term Loan Commitment; provided, that if for
any reason the full amount of the Bank’s Term Loan Commitment is not fully drawn on the Closing Date, the undrawn portion thereof shall automatically be cancelled. 

2.7. Repayment. 
 (i)
Line of Credit Loans. Payments of principal and interest with respect to Line of Credit Loans shall be due and payable by Borrower to Bank on each Payment Date and subject to the provisions of Section 2.8 below, on the Maturity Date for
the Line of Credit Commitment, unless sooner accelerated in accordance with the terms hereof. 
 (ii) Revolving Loans. Payments of
principal for Revolving Loans shall be due and payable by Borrower to Bank, subject to the provisions of Section 2.10(b) below, on the Maturity Date for the Revolving Commitment, unless sooner accelerated in accordance with the terms hereof.

 (iii) Term Loans. Payments of principal for Term Loans shall be due and payable by Borrower to Bank in installments payable on the
dates set forth in the Term Note, provided, that, to the extent not previously paid, the aggregate unpaid principal balance of the Term Loans shall be due and payable on the Maturity Date for the Term Loan. 

 (iv) Except as provided below, all payments of principal of, or interest on, the Loan Documents
(including Asset Disposition Prepayments) and all other sums due under the terms of the Loan shall be made in either (x) immediately available funds (including ACH transfers), or (y) checks or money orders made payable to the Bank at its
principal office in Atlanta, Georgia in accordance with written instructions provided by the Bank. All voluntary prepayments of the Loan shall be made to the Bank at its Program Lending Department in Atlanta, Georgia using preprinted envelopes
provided by the Bank for such purpose or, if such envelopes are unavailable, mailed to the following address: 
 Aaron’s Program
Manager 
 SunTrust Bank 

Program Lending 
 303 Peachtree
Street, N.E., 2nd Floor 
 Mail Code 1802 

Atlanta, Georgia 30308 
 2.8.
Loan Term; Voluntary Termination. (i) The original term of the Line of Credit Commitment shall be for a period of one year from the Closing Date (the “Loan Term”). Thereafter, the Loan Term shall automatically be extended on
each anniversary of the Closing Date for an additional one year period unless either party terminates the Loan as set forth hereunder. Upon ninety (90) days prior written notice to the Borrower, the Bank may, at its option, terminate the Line
of Credit Commitment. Upon written notice to the Bank, the Borrower may, at its option, terminate the Line of Credit Commitment. Bank may also terminate the Line of Credit Commitment pursuant to Section 10 hereof. Upon the effective date of a
termination of the Line of Credit Commitment effected by Borrower, the principal of and all accrued but unpaid interest on the Loan Indebtedness shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all
rights, remedies and privileges of Bank under this Agreement and Bank’s security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness is fully and finally paid. In the event Bank elects to
terminate, (i) Bank shall continue to make Advances until the effective date of the termination and (ii) Advances outstanding at the effective date of the termination shall be repaid according to an eighteen (18) month amortization
schedule or a twenty-four (24) month amortization schedule provided above, provided that, notwithstanding the foregoing all outstanding Loan Indebtedness shall be due and payable in full on the 24th Payment Date following termination of the
Line of Credit Commitment by the Bank. Nothing set forth in this Section 2.8 shall be deemed to limit the ability of the Bank to declare all amounts outstanding under the Note immediately due and payable upon the occurrence of an Event of
Default hereunder as provided herein. 
 (ii) The Revolving Commitment and the Term Loan shall terminate on the Maturity Date for the
Revolving Commitment and the Term Loan set forth in the Revolving Note and the Term Note, as the case may be, which date shall be no more than four years from the Closing Date, subject to Section 10 hereof. Upon the termination of the Revolving
Commitment or the Term Loan, the principal of and all accrued but unpaid interest on the Loan Indebtedness shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank
under this Agreement and Bank’s security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness is fully and finally paid. 

2.9. Interest. (a) From and after the date hereof, interest shall accrue on the unpaid principal amount of the Loan Indebtedness
at the Floating Rate. Interest shall be calculated daily and shall be computed on the basis of actual days elapsed over the period of a 360 day year. Interest shall be payable in arrears on each Payment Date and on the Maturity Date, whether due to
acceleration or otherwise. Any principal amount outstanding pursuant to a Loan not paid when due shall bear interest at the Default Rate, which shall be payable upon demand. After the occurrence of an Event of Default and during the continuance
thereof, the outstanding principal balance of the Loans shall bear interest at the Default Rate, which shall be payable upon demand. 

 (b) In no contingency or event whatsoever shall the amount paid or agreed to be paid to Bank for
the use, forbearance or detention of money advanced under this Agreement exceed the highest lawful rate permissible under Applicable Law. It is the intent hereof that Borrower will not pay or contract to pay, and that Bank not receive or contract to
receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be charged to and paid by Borrower under Applicable Law. All interest (and charges deemed interest) paid or agreed to be paid to Bank shall, to the extent
permitted by Applicable Law, be amortized, pro rated, allocated and spread in equal parts throughout the full term hereof until payment in full of the principal amount of the Loan Indebtedness owing hereunder (including the period of any renewal or
extension hereof) so that interest on the principal amount of the Loan Indebtedness outstanding hereunder for such full period will not exceed the maximum amount permitted by Applicable Law. 

2.10. Loan Prepayment. 

(a) Voluntary Prepayment. Borrower shall have the right to prepay the Loans in whole or in part on any Payment Date, but subject to
Borrower having provided at least two (2) Business Days’ prior written notice to Bank. Partial prepayments of any Line of Credit Loan (other than proceeds of Asset Dispositions which shall be applied as set forth in the following
Section 2.10(b)(ii)) shall be applied to reduce the current month’s Advance(s) to such Borrower with any excess prepayment applied to unpaid principal payments of the Loan as Aaron and the Bank may mutually agree (which may include, but is
not limited to, application of such excess prepayment to unpaid principal payments of the Loan in inverse order of maturity or on a pro rata basis) 

(b) Mandatory Prepayment. (i) For the Line of Credit Loan, mandatory prepayment shall be required for Asset Dispositions. For the
Revolving Loan, on any Payment Date on which the aggregate outstanding principal amount of the Revolving Loan exceeds the lesser of the Revolving Commitment or the Borrowing Base, as most recently reported to Borrower by Bank pursuant to
Section 2.5(iv) hereof, Borrower shall prepay the Revolving Loans in the amount of such overadvance, as notified to Borrower by Bank. 

2.11. Audits. Borrower hereby consents and authorizes Aaron or the Bank or any agent or representative thereof to conduct periodic
field audits of Borrower. Such field audits may include, without limitation, examinations of the payment receipts, tax returns, bank statements, loan statements, Lease Contracts, inventory on hand, computer-generated reports of Asset Dispositions,
Rental Revenue and other financial data necessary to determine the accuracy and validity of the reports, compliance certificates, financial reports and other information forwarded to either of the Bank or Aaron by Borrower in connection with the
Loan. 
 2.12. Tracking of Merchandise; Asset Dispositions. 

(a) All Merchandise financed by the Bank must be serialized by means of the Aaron’s Proprietary System for appropriate reconciliation of
Advances and receipt of Merchandise and for purposes of tracking Asset Dispositions, if applicable. Borrower shall be obligated to furnish serial numbers for all Merchandise purchased directly to Aaron on a weekly basis (and, if available, on a
daily basis) by transmittal of Borrower’s receiving report (containing Aaron’s Proprietary System numbers) directly to Aaron on the Aaron’s Proprietary System. As set forth more fully below, Aaron will maintain and track such
information as agent for the Bank and the Bank shall at all times have access to such information. 

 (b) If Borrower has a Line of Credit Note and an Asset Disposition occurs, Borrower shall
immediately report such Asset Disposition to Aaron by means of the Aaron’s Proprietary System, such information to include the Aaron’s Proprietary System numbers, and if assigned, the serial numbers of the Merchandise subject to the Asset
Disposition, the Net Book Value of such Merchandise and the proceeds received by Borrower therefrom. Aaron, on a monthly basis, shall transmit all such information to the Bank in a summary form. Based solely on such information provided by Aaron,
the Bank will notify Borrower on a monthly basis, of the amount of the required prepayment (the “Asset Disposition Prepayment”) of the aggregate outstanding amount of the Line of Credit Loan due on the next Payment Date which amount shall
be equal to the Net Book Value of the Asset Dispositions during the preceding month not applied to Advances made during such month as set forth above, unless otherwise agreed to by the Bank. The Borrower shall be notified by the Bank by the 15th day
of each calendar month of the Asset Disposition Prepayment and payment thereof shall be due on the next succeeding Payment Date. 
 2.13.
Closing Fee. On the Closing Date of each Loan, Borrower shall pay to Bank a closing fee (“Closing Fee”) in the amount of $500 per store location [plus $5,000]7. 

2.14. Commitment Fees. 

(a) Borrower shall pay a commitment fee (the “Commitment Fee”) on any unused portion of the Line of Credit Commitment and the
Revolving Commitment in the amount of     % per annum, such Commitment Fee to be paid quarterly in arrears on every third Payment Date, commencing on the third Payment Date after the Closing Date. 

(b) All Commitment Fees shall be paid on the dates due, in immediately available funds, to the Bank. 

2.15. Delinquent Payment Fees. In the event that any payment due and payable hereunder is not received by the Bank on the Payment Date
when due, the Borrower shall, upon request from the Bank, pay to the Bank a delinquent payment fee (the “Delinquent Payment Fee”) in an amount equal to the greater of (i) one percent (1%) of the amount of the late payment and
(ii) $500.00. 
 3. COLLATERAL AND INSURANCE. 

3.1. Granting of Security Interest in Collateral. As security for the payment and performance of all of the Loan Indebtedness, Bank
shall have and Borrower hereby grants to Bank a continuing security interest in the following described property of Borrower, whether now in existence or hereafter created or acquired and wherever located (collectively, the “Collateral”):
all Accounts, Merchandise, Inventory, Investment Property, Equipment, General Intangibles, Documents, Instruments, Chattel Paper (including, but not limited to, the Lease Contracts), Balances, fixtures, and Books and Records, and all products and
proceeds of the foregoing (including insurance proceeds). The Loan Indebtedness shall also be secured by any other property (whether real or personal) in which Borrower may have heretofore or concurrently herewith granted, or may hereafter grant, a
Lien in favor of Bank. 
  

	7 	Note: in the case of an Borrower with a Revolving Commitment or a Term Loan Commitment that has customized financial covenants as specified by Sponsor in accordance with Section 6 hereof, an additional $5,000 fee
will be charged. 

 3.2. Form of Lease Contracts. All Lease Contracts will (a) be in a form prescribed by
Aaron for use by its franchisees, (b) be transferable to Bank and (c) contain the following provision directly above Borrower’s customer’s signature: 

“NOTWITHSTANDING ANYTHING SET FORTH IN THIS AGREEMENT TO THE CONTRARY, THE UNDERSIGNED ACKNOWLEDGES AND CONSENTS TO THE TRANSFER OF, OR
GRANT OF A SECURITY INTEREST IN, ANY OR ALL OF THE LESSOR’S RIGHT, TITLE AND INTEREST (RESIDUAL OR OTHERWISE) IN AND UNDER THIS AGREEMENT TO ANY THIRD PARTY. NO SUCH TRANSFER OR GRANT OF SECURITY INTEREST WILL: (A) AFFECT THE
UNDERSIGNED’S LOAN INDEBTEDNESS; (B) CHANGE ANY DUTIES OF, OR INCREASE ANY BURDENS OR RISKS IMPOSED ON, THE PARTIES TO THIS AGREEMENT; OR (C) GIVE RISE TO ANY RIGHTS OR REMEDIES PROVIDED UNDER SECTION
2A-303(1)(b) OF THE UNIFORM COMMERCIAL CODE, AS ADOPTED IN THE APPLICABLE JURISDICTION. NO ENFORCEMENT OF ANY SECURITY INTEREST WILL CONSTITUTE A TRANSFER THAT CHANGES ANY DUTIES OF, OR INCREASES ANY BURDENS
OR RISK IMPOSED ON, THE PARTIES TO THIS AGREEMENT. THE UNDERSIGNED WAIVES ALL RIGHTS AND REMEDIES PROVIDED UNDER SECTION 2A-303 OF THE UNIFORM COMMERCIAL CODE, AS ADOPTED IN THE APPLICABLE JURISDICTION.”

 Immediately upon execution of the same, all Lease Contracts shall be hereby assigned to Bank, and, immediately upon Bank’s request, delivered to
Bank together with any and all related documents, and will contain, by way of a stamp or as a part of the preprinted lease contract, the following legend directly below Borrower’s customer’s signature: 

“FOR VALUE RECEIVED, THIS AGREEMENT HAS BEEN ASSIGNED TO SUNTRUST BANK AND THERE ARE NO DEFENSES AGAINST THE ASSIGNEE.” 

Borrower will not assign, sell, pledge, convey or by any other means transfer to any person other than Bank any Lease Contracts or Chattel Paper, without
Bank’s prior written consent. 
 3.3. Other Documents. Borrower shall execute and deliver, or shall be caused to be executed and
delivered, to Bank such other instruments, agreements, assignments, notifications or other documents relating to the Collateral as Bank may from time to time request in order to evidence, perfect or continue the perfection of Bank’s Liens upon
any of the Collateral. 
 3.4. Insurance. Borrower shall maintain and keep in force insurance of the types and in the amounts
customarily carried in lines of business similar to Borrower’s and such other insurance as Bank may require, including, without limitation, theft, fire, public liability, business interruption, casualty, property damage, and worker’s
compensation insurance, which insurance shall be carried with companies and in amounts satisfactory to Bank. All casualty and property damage insurance shall name Bank as mortgagee, sole loss payee or additional insured, as appropriate. Borrower
shall deliver to Bank from time to time, at Bank’s request, copies of all such insurance policies and certificates of insurance and schedules setting forth all insurance then in effect. Each policy of insurance shall contain a clause requiring
the insurer to give not less than thirty (30) days’ prior written notice to Bank in the event of any lapse, termination or cancellation of the policy for any reason whatsoever and a clause that the interest of Bank shall not be impaired or
invalidated by any act or neglect of Borrower or owner of the property nor by the occupation of the premises for purposes more hazardous than are permitted by said policy. All such insurance policies shall contain such other provisions as Bank may
require in order to protect Bank’s security interests in the collateral and Bank’s right to receive payments under such policies. Borrower hereby appoints Bank as
attorney-in-fact for Borrower to file claims under any insurance policies, to receive, receipt and give acquittance for any payments that may be payable to Borrower
thereunder, and to execute any and all endorsements, receipts, releases, assignments, reassignments, or other documents that may be necessary to effect the collection, compromise or settlement of any claims under any such insurance policies, which
power of attorney shall be deemed coupled with an interest and irrevocable so 

 
long as Bank shall have a security interest in any of the Collateral pursuant to this Agreement. If Borrower shall fail to procure such insurance or to pay any premium with respect thereto, then
Bank may, at its discretion, procure such insurance or pay such premium and any costs so incurred by Bank shall constitute a part of the liabilities secured hereby. Bank may apply the proceeds of any insurance policy received by Bank to the payment
of any liabilities, whether or not due, in such order of application as Bank shall determine. Borrower shall promptly furnish Bank with certificates or other evidence satisfactory to Bank indicating compliance with the foregoing insurance
requirements. 
 3.5. Validation and Collection of Accounts. Whether or not a Default Condition or an Event of Default has occurred,
Bank shall have the right, at any time or times hereafter, in the name of Bank or any designee of Bank to verify the validity, amount or any other matter relating to any Accounts by mail, telephone or otherwise, and Borrower shall fully cooperate
with Bank in an effort to facilitate and promptly conclude any such verification process. Unless Bank shall at any time following the occurrence of an Event of Default, elect to give notice to Account Debtors to make payments on the Accounts
directly to Bank, Borrower shall endeavor in the first instance to make collection of its Accounts for Bank. Borrower shall at the request of Bank notify the Account Debtors of the security interest of Bank in any Account and Bank may itself at any
time so notify Account Debtors. Upon or after the occurrence of an Event of Default, Borrower shall (if and to the extent requested to do so by Bank) notify the Account Debtors to make all payments owing to Borrower directly to Bank for application
to the Loan Indebtedness. 
 3.6. Maintenance of Collateral. Borrower shall maintain all Inventory and Equipment in good condition,
reasonable wear and tear excepted in the case of Equipment, and shall, as and when requested by Bank, provide Bank with a list of all of the Equipment and evidence of ownership thereof. Borrower shall not permit any of the Equipment to become
affixed to any real property so that such Equipment is deemed a fixture under the real estate laws of the applicable jurisdiction. 
 3.7.
Expenses Relating to Collateral. Borrower shall pay Bank on demand an amount equal to any and all expenses, including legal fees, incurred or paid by Bank in connection with Bank’s insuring, maintaining, protecting, storing,
safeguarding, or paying Liens with respect to any of the Collateral or otherwise discharging any duty or obligation of Borrower with respect to any of the Collateral. 

3.8. Rights to Collateral. Bank shall have no duty to collect, protect or preserve the underlying value of any Collateral or any income
thereon or to preserve any rights against prior parties. Bank may exercise its rights and remedies with respect to the Collateral without first resorting (and without regard) to any other security for the Loan or other sources of payment or
reimbursement for the Loan Indebtedness. 
 4. CONDITIONS PRECEDENT. 

Borrower shall deliver and Bank shall have received the following documents, each in form and substance satisfactory to Bank, as conditions
precedent of the Loans: 
 (a) a validly executed copy of this Agreement; 

(b) the validly executed Notes; 

(c) a validly executed copy of a Guaranty of each partner or majority stockholder of Borrower, and to the extent not prohibited
by Applicable Law, the spouse of such Person; provided, however, that if such spouse is not providing a Guaranty, a validly executed copy of the Spousal Consent; 

 (d) [Reserved]; 

(e) a validly executed subordination agreement, in form and substance satisfactory to the Bank, from each other debtholder of
Borrower; 
 (f) valid Uniform Commercial Code Financing Statements suitable for filing to enable Bank to perfect the
security interest granted to it under this Agreement; 
 (g) evidence of Borrower’s good standing; 

(h) a validly executed officer’s certificate or such other evidence acceptable to Bank evidencing Borrower’s
corporate, partnership or other necessary authorization of the Loans and incumbency; 
 (i) a certificate of insurance from
an insurer acceptable to Bank evidencing Borrower’s compliance with Section 3.4 hereof and naming the Bank as loss payee/additional insured as follows: 

Aaron’s Program Manager 

SunTrust Bank 
 Program Lending

 303 Peachtree Street, N.E., 2nd Floor 

Mail Code 1802 
 Atlanta,
Georgia 30308 
 (j) a validly executed authorization to make the ACH transfers for payments of principal, interest and fees
contemplated hereunder, including without limitation, Asset Disposition Prepayments, mandatory prepayments of the Loans pursuant to Section 2.10(b), which authorization shall be in form and substance satisfactory to the Bank; and 

(k) an initial Borrowing Base Report from Aaron, if applicable. 

In addition, (x) Bank shall have satisfied itself that (i) all necessary steps have been taken and all necessary registrations have been made to
perfect Bank’s security interest in the Collateral, and (ii) there are no Liens on any of the Collateral, and Bank shall be satisfied that all corporate or partnership proceedings necessary for the authorization of the Loan shall have been
taken and Bank shall have received any other documents that it deems necessary or advisable and (y) unless waived in writing by Aaron, Aaron shall have obtained a validly executed landlord’s waiver for each location leased by Borrower
where the financed Merchandise is located, which Aaron shall provide to Bank up request. 
 5. BORROWER’S REPRESENTATIONS AND WARRANTIES. 

To induce Bank to enter into this Agreement, Borrower represents and warrants as follows: 

5.1. Organization and Qualification of Borrower. Borrower is
                    under the laws of the state shown on the first page hereof, and is qualified to do business in all jurisdictions where the
character of its properties or the nature of its activities make such qualification necessary. 

 5.2. Trade Names, Subsidiaries and Location of Assets. Exhibit B attached hereto
and made a part hereof fully and accurately discloses any legal name, trade name or style ever used by Borrower, any Subsidiaries owned by Borrower, and each office, other place of business or location of assets of Borrower. 

5.3. Corporate or Other Authority; No Violation of Other Agreements. The execution, delivery and performance by Borrower of this
Agreement and the other Loan Documents have been duly authorized by all necessary action on the part of Borrower and do not and will not (i) violate any provision of Borrower’s articles of incorporation,
by-laws, or other organizational documents or any Applicable Law, or (ii) be in conflict with, result in a breach of, or constitute (following notice or lapse of time or both) a default under any
agreement to which Borrower is a party or by which Borrower or any of its property is bound. 
 5.4. Enforceability. This Agreement
and each of the other Loan Documents create legal, valid and binding obligations of Borrower enforceable against Borrower in accordance with their respective terms. 

5.5. Entire Agreement. The Notes and accompanying Loan Documents executed in connection with the Loans and delivered to Bank are the
only contracts evidencing the transaction described herein and constitute the entire agreement of the parties hereto with respect to the transaction. 

5.6. Genuineness of Signatures. The Notes and each accompanying Loan Document executed in connection with the Loans are is genuine and
all signatures, names, amounts and other facts and statements therein and thereon are true and correct. 
 5.7. Litigation. There are
no actions, suits, proceedings or investigations pending or, to the knowledge of Borrower, threatened before any court or administrative or governmental agency that may, individually or collectively, adversely affect the financial condition or
business operations of Borrower. 
 5.8. Financial Condition. Borrower’s financial statement previously delivered to Aaron,
fairly and accurately presents the financial condition of Borrower as of such date and has been prepared in accordance with GAAP consistently applied, and since the date of that financial statement, there has been no material adverse change in the
financial condition of Borrower. Borrower is now and will remain Solvent. 
 5.9. Taxes. All federal, state and local tax returns
have been duly filed, and all taxes, assessments and withholdings shown on such returns or billed to Borrower have been paid, and Borrower maintains adequate reserves and accruals in respect of all such federal, state and other taxes, assessments
and withholdings. There are no unpaid assessments pending against Borrower for any taxes or withholdings, and Borrower knows of no basis therefor. 

5.10. Compliance with Laws. Borrower has duly complied with, and its properties and business operations are in compliance in all
material respects with, the provisions of all Applicable Laws, including, without limitation ERISA, the Fair Labor Standards Act and all Environmental Laws. Borrower possesses all permits, franchises, licenses, trademark rights, trade names, patents
and other authorizations necessary to enable it to conduct its business operations as now conducted, and no filing with, and no consent, authorization, order or license of, any Person is necessary in connection with the execution or performance of
this Agreement or the other Loan Documents. 
 5.11. No Default. No Default Condition or Event of Default exists. 

 5.12. Accounts. Each Account arises out of a bona fide lease or sale and delivery of goods
or rendition of services by Borrower and, unless otherwise indicated by Borrower to Bank in writing promptly after learning thereof, the facts appearing on the invoice evidencing such Account and Borrower’s books relating thereto are true and
accurate and payment thereof is not subject to any known dispute, offset or claim except for discounts granted in the ordinary course of Borrower’s business that are reflected on the face of such invoice. 

5.13. Use of Proceeds. None of the proceeds of any Advances or the Term Loan by Bank have been or will be used to purchase or carry (or
to satisfy or refinance any indebtedness incurred to purchase or carry) any “margin stock” (as defined in Regulation U of the Federal Reserve Board). Advances shall be made for the sole purposes of honoring requests for ACH transfers to
(i) suppliers of Merchandise in payment of Approved Invoices, and (ii) other accounts specified by Borrower with respect to Advances made for working capital purposes, subject to the approval of Aaron, which requests have been entered by
the Borrower in the Aaron’s Proprietary System as provided above, or upon the consent of Aaron, for the purpose of payment of state use taxes and freight charges. The proceeds of the Term Loan shall be used for acquisition financing, general
working capital purposes or such other purpose approved by Aaron. 
 5.14 Anti-Corruption Laws and Sanctions. The Borrower has
implemented and maintains in effect policies and procedures designed to ensure compliance in all material respects by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and
applicable Sanctions, and the Borrower, its Subsidiaries and their respective officers (in such capacity), employees (in such capacity) and, to the knowledge of the Borrower, its directors and agents, are in compliance with Anti-Corruption Laws and
applicable Sanctions. None of (a) the Borrower, any Subsidiary or any of their respective officers (in such capacity) or employees (in such capacity), or (b) to the knowledge of the Borrower, any director or agent of the Borrower or any
Subsidiary is a Sanctioned Person. No borrowing or other extension of credit hereunder, use by the Borrower or any Subsidiary of the proceeds thereof or other transactions contemplated hereby will violate Anti-Corruption Laws or applicable
Sanctions. 
 5.15 Patriot Act. Neither the Borrower nor any of its Subsidiaries is an “enemy” or an “ally of the
enemy” within the meaning of Section 2 of the Trading with the Enemy Act or any enabling legislation or executive order relating thereto. Neither the Borrower nor any of its Subsidiaries is in violation of (a) the Trading with the
Enemy Act, (b) any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto or (c) the Patriot Act.
Neither the Borrower nor any of its Subsidiaries (i) is a blocked person described in Section 1 of the Anti-Terrorism Order or (ii) to the best of its knowledge, engages in any dealings or transactions, or is otherwise associated,
with any such blocked person. 
 Each submission of an Approved Invoice made by Borrower pursuant to this Agreement or any other Loan Document shall
constitute an automatic representation and warranty by Borrower to Bank that there does not then exist any Default Condition or Event of Default and a reaffirmation as of the date of said request that all representations and warranties of Borrower
contained in this Agreement and the other Loan Documents are true in all material respects. All representations and warranties contained in this Agreement or in any of the other Loan Documents shall survive the execution, delivery and acceptance
hereof by Bank and the closing of the transactions described herein. 

 6. FINANCIAL COVENANTS. 

Borrower shall comply with the following financial covenant[s]: 

[(i) Rental Revenue to Debt Service. Commencing on the first day of the calendar quarter in which the 25th month
following the Opening Date of the first store location of the Borrower occurs and measured as of the last day of the calendar quarter in which such 25th month occurs and on the last day of each calendar quarter thereafter, the ratio of the
Borrower’s Rental Revenue to Debt Service for such quarter shall not be less than 2.2:1.0;]8 

(ii) Debt to Rental Revenue. [Commencing on the first day of the calendar quarter in which the first day of the 19th
month following the Opening Date of the first store location of Borrower occurs and measured as of the last day of the calendar quarter in which such 19th month occurs and on the last day of each calendar quarter thereafter,][On the last day of each
calendar quarter] the ratio of Borrower’s Debt to Borrower’s Rental Revenue, shall not exceed [    ]:1.0.9 

To the extent any of the financial covenants set forth above in this Section 6 are calculated based upon the Opening Date of a store
location, the financial information from store locations that have not reached the Opening Date anniversary incorporated into such covenants shall be excluded from such calculations. Debt Service and Debt attributable to such locations and deducted
from the final calculations shall be deducted on a pro rata basis calculated by dividing such stores’ aggregate Net Book Value of Merchandise by the Net Book Value of Merchandise for all store locations. The financial covenants shall otherwise
be calculated on a consolidated basis as to all store locations. 
 7. BORROWER’S AFFIRMATIVE COVENANTS. 

During the term of this Agreement, and thereafter for so long as there is any outstanding Loan Indebtedness to Bank, Borrower covenants that,
unless otherwise consented to by Bank in writing, it shall: 
 7.1. Financial Reports. Deliver to Aaron or cause to be delivered to
Aaron: 
 (i) on or before the last Business Day of each month, an unaudited balance sheet and income statement accurately
reflecting the financial transactions and status of the Borrower as of the end of the prior month and on a year to date basis, on a consolidated and per store basis; prepared in accordance with GAAP in the format recommended by Aaron; 

(ii) on or before the last Business Day of each month after the end of each calendar quarter (a) an unaudited balance
sheet and income statement accurately reflecting the financial transactions and status of Borrower as of the end of the prior month and on a quarterly basis, on a consolidated and per store basis, prepared in accordance with GAAP in the format
recommended by Aaron, and (b) a compliance certificate as described below in Section 7.2; 
  

	8 	Note: This covenant will not apply in the case of any Borrowers who have Revolving Loans or Term Loans as, in such case, the Borrowing Base in the applicable Loan Agreement will apply in lieu of this covenant.

	9 	Note: This covenant will apply and be tested on last day of each calendar quarter and not be tied to any Opening Date of store locations in the case of any Loan Agreement providing for Loans to be made available to a
Borrower consisting of Revolving Loans and/or Term Loans. Covenant levels for this covenant will be established by Sponsor for each Borrower as per the Servicing Agreement. 

 (iii) within 90 days after the end of each fiscal year a balance sheet and income
statement of Borrower as of the end of such year, compiled by such firm of independent public accountants as may be designated by Borrower and be satisfactory to Bank as prepared in accordance with GAAP and, to the extent delivered to Aaron, audited
financial statements for such period; 
 (iv) within 120 days after the end of each fiscal year, an annual personal financial
statement of each Guarantor; and 
 (v) with reasonable promptness, all reports by Borrower to its shareholders and such
other information as Aaron or the Bank may reasonably request from time to time. 
 7.2. Compliance Certificate. Prepare and deliver
to Aaron, to the extent that Borrower has a Line of Credit Loan, in conjunction with the quarterly financial reports required to be delivered pursuant to Section 7.1(iii) above, a quarterly Compliance Certificate (the form of which is attached
hereto as Exhibit C) including the Quarterly Covenant Compliance Report attached hereto as Exhibit D) presenting the calculation of the financial covenants set forth above in Section 6, noting any negative variances with the
covenants and explaining any such variances. 
 Borrower acknowledges that Aaron will review each Compliance Certificate and may revise the calculations set
forth on such Compliance Certificate to be consistent with the information shown on quarterly detailed Inventory reconciliation reports and detailed revenue reports prepared by Aaron each quarter showing the amount of Inventory at each of
Borrower’s stores as of the end of such quarter and the amount of monthly and quarterly revenue at each of Borrower’s stores. Borrower acknowledges that Aaron will forward copies of each Compliance Certificate, with revised calculations as
appropriate, to Bank and agrees that Bank shall be entitled to rely each such Compliance Certificate, as revised by Aaron, for purposes of determining whether the covenants set forth in Section 6 above have been met. 

7.3. Books and Records. Maintain its Books and Records and accounts in accordance with GAAP and permit any Person designated by Bank or
Aaron to visit Borrower’s premises, inspect any of the Collateral or any of the Books and Records, and to make copies thereof and take extracts therefrom, and to discuss Borrower’s financial affairs with Borrower’s financial officers
and accountants. 
 7.4. Taxes. Promptly file all tax returns and pay and discharge all taxes, assessments, withholdings and other
governmental charges imposed upon it, its income or profits, or upon any property belonging to it, prior to the date on which penalties attach thereto. 

7.5. Notices to Bank. Promptly notify Bank in writing of (i) the occurrence of any Default Condition or Event of Default;
(ii) any pending or threatened litigation claiming damages in excess of $25,000 or seeking relief that, if granted, would adversely affect the financial condition or business operations of Borrower; (iii) the release or discharge of any
Hazardous Substance on any property owned by Borrower; and (iii) any asserted violation by Borrower of or demand for compliance by Borrower with any Applicable Law. 

7.6. Compliance with Applicable Laws. Comply in all material respects with all Applicable Laws, including, without limitation, ERISA,
the Fair Labor Standards Act and all Environmental Laws. 
 7.7. Corporate Existence. Maintain its separate corporate existence and
all rights, privileges and franchises in connection therewith, and maintain its qualification and good standing in all jurisdictions where the failure to do so could have a material adverse effect upon its financial condition or ability to collect
the Accounts. 

 8. NEGATIVE COVENANTS. 

During the term of this Agreement, and thereafter for so long as there are is Loan Indebtedness outstanding, Borrower covenants that unless
Bank has first consented thereto in writing, it will not: 
 8.1. Merger; Disposal or Moving of Collateral. Merge or consolidate with
or acquire any substantial portion of the assets or stock of any Person; sell, lease, transfer or otherwise dispose of all or any portion of its properties (including any of the Collateral), except sales or leases of Inventory in the ordinary course
of business; or, without having given Bank at least 60 days prior written notice and having executed such instruments and agreements as Bank shall require, change its name, the location of any Collateral or the location of its chief executive
office, principal place of business or the office at which it maintains its Books and Records. Notwithstanding the foregoing, to the extent that Borrower is calculating its compliance with the financial covenants set forth in Section 6 hereof
on a consolidated basis, Borrower may move Inventory from one location included in such calculation to another of Borrower’s Aaron’s locations without complying with the notice provisions hereof, as long as such Inventory is properly
transferred in the Aaron’s Proprietary System. 
 8.2. Liens. Grant or suffer to exist any Lien upon any of the Collateral
except Permitted Liens. 
 8.3. Guarantees. Guarantee, assume, endorse or otherwise become contingently liable for any obligation or
indebtedness of any Person, either directly or indirectly, exceeding $25,000 not existing as of this date, except by endorsement of items of payment for deposit or collection. 

8.4. Loans. Make loans or advances of money to or investments in any Person, or (except in the ordinary course of business and on fair
and reasonable terms) engage in any transaction with a Subsidiary or affiliate. 
 8.5. Stock of Borrower. Repurchase, or pay or
declare any dividend on, any of its capital stock; provided, however, that if no Default Condition or Event of Default exists and Borrower remains in compliance with the financial covenants set forth in Section 6 above after
giving effect thereto, it may pay dividends and make such repurchases. 
 8.6 Sanctions and Anti-Corruption Laws. Request or use any
borrowing or other extension of credit hereunder, or use, and the Borrower shall ensure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any borrowing or other extension of
credit hereunder (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of
funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

 9. EVENTS OF DEFAULT. 
 9.1. List
of Events of Default. The occurrence of any one or more of the following conditions or events shall constitute an “Event of Default”: 

(a) Borrower shall fail to pay any of the Loan Indebtedness (including any overadvance) or to pay for any Asset Disposition
within ten (10) days of the due date thereof (whether due at stated maturity, on demand, upon acceleration or otherwise); 

 (b) any warranty, representation, or other statement by Borrower herein or in any
instrument, certificate or financial statement furnished in compliance herewith proves to have been false or misleading in any material respect when made; 

(c) Borrower shall fail or neglect to perform, keep or observe any covenant contained in this Agreement, any of the other Loan
Documents or any other agreement now or hereafter entered into with Bank; Borrower shall fail to abide by the financial covenants set forth in Section 6 hereof, provided that Aaron may waive any financial covenant. 

(d) Borrower or any Guarantor shall fail to pay when due any amount owed to any creditor (other than Bank) or any Guarantor
shall fail to pay or perform any liability or obligation in accordance with the terms of any agreement with Bank; 
 (e)
Borrower, Aaron or any Guarantor shall cease to be Solvent, shall die or become incompetent, shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, shall make an assignment for the benefit of creditors, or shall make an
offer of settlement or composition to their respective unsecured creditors generally; 
 (f) any petition for an order for
relief shall be filed by or against Borrower or any Guarantor or Aaron under the Bankruptcy Code (if against Borrower or any Guarantor, the continuation of such proceeding for more than 30 days); 

(g) any judgment, writ of attachment or similar process is entered or filed against Borrower or any Guarantor or any of
Borrower’s or any Guarantor’s property and such judgment, writ of attachment or process is not dismissed, satisfied or vacated within ten (10) days thereafter or results in the creation or imposition of any Lien upon any Collateral
that is not a Permitted Lien; 
 (h) Any Guarantor shall revoke or attempt to revoke the guaranty signed by such Guarantor or
shall repudiate such Guarantor’s liability thereunder or Aaron shall default in its obligations to Bank with respect to the Loan Indebtedness or repudiate its liability therefor; 

(i) any Person, or group of Persons (whether or not related), shall have or obtain legal or beneficial ownership of a majority
of the outstanding voting securities or rights of Borrower, other than any Person, or group of Persons, that has such majority ownership on the date of execution of this Agreement; 

(j) Borrower shall lose its franchise, license or right to lease or to sell the Inventory or Borrower’s Franchise
Agreement is terminated or revoked for any reason; 
 (k) Borrower shall fail to enter properly any acquisition of Inventory
or Equipment or any Asset Disposition on the Aaron’s Proprietary System; or 
 (l) Borrower shall use its DDA Account
for any use other than as explicitly authorized pursuant to this Agreement. 
 9.2. Cure Period. Borrower shall have a five
(5) calendar day period after the Bank gives it notice of the occurrence of an Event of Default (other than an Event of Default pursuant to Section 9.1(f)) above, during which it may cure such Event of Default. An Event of Default arising
under Section 9.1(a) above shall only be cured by the Bank’s receipt of payment in immediately available funds by wire transfer, money order or cashier’s check. 

 9.3. Advances. In no event shall the Bank have any obligation to make any Loan hereunder
or an Advance pursuant to a Line of Credit Commitment or Revolving Commitment hereunder if there exists a Default Condition or an Event of Default. 
 10.
REMEDIES. 
 All of the Loan Indebtedness shall become immediately due and payable and the Line of Credit Commitment and Revolving
Commitment shall be deemed immediately terminated (without notice to or demand upon Borrower) upon the occurrence of an Event of Default under Section 9.1(f) of this Agreement; and upon and after the occurrence of any other Event of Default,
subject to the cure period set forth in Section 9.2 hereof, Bank shall have the right to terminate immediately the Line of Credit Commitment and Revolving Commitment and to declare the entire unpaid principal balance of and accrued interest
with respect to the Loan Indebtedness to be, and the same shall thereupon become, immediately due and payable upon receipt by Borrower of written notice and demand. From and after the date on which the Loan Indebtedness becomes automatically due and
payable or is declared by Bank to be due and payable as aforesaid, Bank shall have and may exercise from time to time any and all rights and remedies afforded to a secured party under the Code or any other Applicable Law. If the Loan Indebtedness is
collected by or through an attorney at law, Bank shall be entitled to collect reasonable attorneys’ fees and court costs from Borrower. In addition to, and without limiting the generality of the foregoing, Bank shall have the following rights
and remedies which it may exercise at any time or times (all of which rights and remedies shall be cumulative and may be exercised singularly or concurrently): 

(a) The right to notify any Account Debtor to make all payments owing to Borrower directly to Bank for application to the Loan Indebtedness
and to collect all amounts owing from any such Account Debtor; 
 (b) The right to sell, lease or otherwise dispose of any or all of the
Collateral at public or private sale, for cash, upon credit or upon such other terms as Bank deems advisable in its sole discretion, or otherwise to realize upon the whole or from time to time any part of the Collateral in which Bank may have a
security interest. Any requirement of reasonable notice shall be met if such notice is sent to Borrower in accordance with Section 12 hereof at least seven (7) days before the date of sale or other disposition of the Collateral. Bank may
bid and be the purchaser at any such sale if permitted by Applicable Law; 
 (c) The right to require Borrower, at Borrower’s expense,
to assemble the Collateral and make it available to Bank at a place reasonably convenient to both parties (and, for purposes hereof, Borrower stipulates that Bank shall be entitled to the remedy of specific performance). Alternatively, Bank may
peaceably by its own means or with judicial assistance enter Borrower’s premises and take possession of the Collateral or dispose of the Collateral on Borrower’s premises without interference by Borrower; 

(d) The right to incur attorneys’ fees and expenses in exercising any of the rights, remedies, powers or privileges provided hereunder,
and the right (but not the obligation) to pay, satisfy and discharge, or to bond, deposit or indemnify against, any tax or other Lien which in the opinion of Bank may in any manner or to any extent encumber any of the Collateral, all of which fees,
payments and expenses shall become part of Bank’s expenses of retaking, holding, preparing for sale and the like, and shall be added to and become a part of the principal amount of the Loan Indebtedness; 

(e) The right, in Bank’s sole discretion, to perform any agreement of Borrower hereunder which Borrower shall fail to perform and take
any other action which Bank deems necessary for the maintenance or preservation of any of the Collateral or Bank’s interest therein, and Borrower agrees forthwith to reimburse Bank for all expenses incurred in connection with the foregoing,
together with interest thereon at the Default Rate from the date incurred until the date of reimbursement; 

 (f) The right at any time or times, to the fullest extent permitted by Applicable Law, to set off
and apply any and all deposits (general or special, time or demand) held by Bank for Borrower’s account against any of the Loan Indebtedness, irrespective of whether or not Bank has made any demand under the this Agreement; 

(g) The right to apply the proceeds realized from any collection, sale, lease or other disposition of the Collateral first to the costs,
expenses and attorneys’ fees incurred by Bank for collection and for acquisition, protection, removal, storage, sale and delivery of the Collateral; secondly, to interest due upon the principal amount of the Loan Indebtedness; and thirdly, to
the principal amount of the Loan Indebtedness. If any deficiency shall arise, Borrower and Guarantors shall remain bound and liable to Bank therefor; 

(h) The right to act as Borrower’s attorney-in-fact (and
Borrower hereby irrevocably appoints Bank as Borrower’s agent and attorney-in- fact), in Borrower’s or Bank’s name, but at Borrower’s cost and expense, to receive, open and dispose of all
mail addressed to Borrower pertaining to any of the Collateral, to notify postal authorities to change the address and delivery of mail to Borrower to such address as Bank may designate, to sign Borrower’s name on any bill of lading
constituting or relating to any Collateral, to send verifications with respect to the Collateral, to execute in Borrower’s name any affidavits or notices with regard to any and all Lien rights and to do all other acts and things necessary to
carry out the terms of this Agreement or to discharge any obligation of Borrower hereunder, this power, being coupled with an interest, is to be irrevocable so long as any Loan Indebtedness is outstanding. 

11. WAIVERS. 
 Borrower waives notice of
Bank’s acceptance hereof. Borrower hereby waives any requirement on the part of Bank to post any bond or other security as a condition to Bank’s right to obtain an immediate writ of possession with respect to any Collateral. Bank shall not
be deemed to have waived any of its rights upon or remedies hereunder or any Event of Default unless such waiver be in writing and signed by Bank. No delay or omission on the part of Bank in exercising any right shall operate as a waiver of such
right or any other right. A waiver on any one occasion shall not be construed as a bar to or waiver of any right on any future occasion. 
 12.
NOTICES. 
 All notices and demands to or upon a party hereto shall be in writing and shall be sent by certified mail, return receipt
requested, personal delivery against receipt or by telecopier or other facsimile transmission and shall be deemed to have been validly served, given or delivered when delivered against receipt or one Business Day after deposit in the mail, postage
prepaid, or, in the case of facsimile transmission, when indicated by verification receipt printed by the sending machine as having been received at the office of the noticed party, addressed in each case as follows: 

 

			
	If to Borrower:	  	                    
		  	Attn:                     
		  	                     

                    ,
                    

                    

		  	Telecopier No.:                     

			
	If to Bank:	  	SunTrust Bank
		  	Program Lending
		  	Attn: Aaron’s Program Manager
		  	303 Peachtree Street, N.E., 2nd Floor
		  	Mail Code 1802
		  	Atlanta, Georgia 30308
		  	Telecopier No.: (404)724-3716

 or to such other address as each party may designate for itself by like notice given in accordance with this Section. Any
written notice or demand that is not sent in conformity with the provisions hereof shall nevertheless be effective on the date that such notice is actually received by the individual to whose attention such notice is to be sent as specified above or
such individual’s successor in office. 
 13. INDEMNIFICATION. 

Borrower hereby agrees to indemnify Bank and hold Bank harmless from and against any liability, loss, damage, suit, action or proceeding ever
suffered or incurred by Bank as the result of Borrower’s failure to observe, perform or discharge Borrower’s duties hereunder. Without limiting the generality of the foregoing, this indemnity shall extend to any claims asserted against
Bank by any Person under any environmental laws. If any taxes, fees or other charges shall be payable by Borrower or Bank on account of the execution, delivery or recording of any of the Loan Documents or any loans outstanding hereunder, Borrower
will pay (or reimburse Bank’s payment of) all such taxes, fees or other charges, including any applicable interests and penalties, and will indemnify and hold Bank harmless from and against liability in connection therewith. The indemnity
obligations of Borrower under this Section shall survive the payment in full of the Loan Indebtedness. 
 14. ENTIRE AGREEMENT; AMENDMENT. 

This Agreement and the other Loan Documents embody the entire understanding and agreement between the parties hereto with respect to the
subject matter hereof, and this Agreement may not be modified or amended except by an agreement in writing signed by Borrower and Bank. 
 15. SUCCESSORS
AND ASSIGNS. 
 This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns; but Borrower shall not assign this Agreement or any right or benefit hereunder to any Person. The Bank may assign its rights and obligations hereunder at any time and to any Person, including without limitation, to Aaron. 

16. ARBITRATION. 
 ANY CONTROVERSY
ARISING WITH RESPECT TO THIS AGREEMENT SHALL BE DETERMINED BY ARBITRATION IN THE CITY AGREED UPON BY BORROWER AND BANK. IF BORROWER AND BANK FAIL TO SO AGREE, THEN SUCH ARBITRATION SHALL TAKE PLACE IN ATLANTA, GEORGIA. ARBITRATION SHALL BE IN
ACCORDANCE WITH THE COMMERCIAL ARBITRATION RULES OF THE AMERICAN ARBITRATION ASSOCIATION EXCEPT TO THE EXTENT OTHERWISE SET FORTH IN THIS SECTION. THE DISPUTE SHALL BE DETERMINED BY AN ARBITRATOR ACCEPTABLE TO BOTH PARTIES WHO SHALL BE SELECTED
WITHIN SEVEN (7) DAYS OF FILING OF NOTICE OF INTENTION TO ARBITRATE. OTHERWISE, THE DISPUTE SHALL BE DETERMINED BY A PANEL OF THREE 

 
ARBITRATORS SELECTED AS FOLLOWS: WITHIN SEVEN (7) DAYS OF FILING NOTICE OF INTENTION TO ARBITRATE, EACH PARTY WILL APPOINT ONE ARBITRATOR, WHO SHALL BE AN ATTORNEY ADMITTED BEFORE THE BAR OF
ANY STATE OF THE UNITED STATES (BUT NEITHER SUCH ATTORNEY NOR ANY FIRM WITH WHICH SUCH ATTORNEY HAS BEEN ASSOCIATED IN THE IMMEDIATELY PRECEDING FIVE YEARS SHALL HAVE BEEN RETAINED BY SUCH PARTY DURING THE IMMEDIATELY PRECEDING FIVE YEARS). THESE
TWO ARBITRATORS WILL THEN NAME A THIRD ARBITRATOR, WHO SHALL ALSO BE AN ATTORNEY ADMITTED BEFORE THE BAR OF ANY STATE OF THE UNITED STATES (BUT NEITHER SUCH ATTORNEY NOR ANY FIRM WITH WHICH SUCH ATTORNEY HAD BEEN ASSOCIATED FOR THE IMMEDIATELY
PRECEDING FIVE YEARS SHALL HAVE BEEN RETAINED BY EITHER PARTY DURING THE IMMEDIATELY PRECEDING FIVE YEARS) AND WHO SHALL PRESIDE OVER THE PANEL. IF EITHER PARTY FAILS TO APPOINT AN ARBITRATOR, OR IF THE TWO ARBITRATORS DO NOT NAME A THIRD ARBITRATOR
WITHIN SEVEN (7) DAYS, EITHER PARTY MAY REQUEST THE AMERICAN ARBITRATION ASSOCIATION TO APPOINT THE NECESSARY ARBITRATOR(S) PURSUANT TO THE COMMERCIAL ARBITRATION RULES. ARBITRATORS SHALL BE COMPENSATED FOR THEIR SERVICES BY THE NON-PREVAILING PARTY AT THE STANDARD HOURLY RATE CHARGED BY SUCH ARBITRATORS IN THEIR PRIVATE PROFESSIONAL ACTIVITIES. ALL TESTIMONY SHALL BE TRANSCRIBED BY A PUBLIC STENOGRAPHER OR COURT REPORTER. THE AWARD OF THE
PANEL SHALL BE ACCOMPANIED BY FINDINGS OF FACT AND A STATEMENT OF REASONS FOR THE DECISION. ALL PARTIES AGREE TO BE BOUND BY THE RESULTS OF SUCH ARBITRATIONS; JUDGMENT UPON THE AWARD SO RENDERED MAY BE ENTERED AND ENFORCED IN ANY COURT OF COMPETENT
JURISDICTION. TO THE EXTENT REASONABLY PRACTICABLE, BOTH PARTIES AGREE TO CONTINUE PERFORMING THEIR RESPECTIVE OBLIGATIONS UNDER THIS AGREEMENT WHILE THE DISPUTE IS BEING RESOLVED. 

17. MISCELLANEOUS. Time is of the essence of this Agreement. Bank reserves the right to participate, sell or assign the Loans made hereunder and
provide any participant or assignee all information in Bank’s possession regarding Borrower, its business and the Collateral. Borrower shall reimburse Bank for Bank’s
out-of-pocket expenses and for the fees and expenses and disbursements of Bank’s counsel in connection with the negotiation, documentation and closing of the
transactions contemplated hereby, and Borrower will pay all expenses incurred by Borrower in connection with the transactions. The Section headings are for convenience only and shall not limit or otherwise affect any of the terms hereof. THIS
AGREEMENT AND ALL RIGHTS AND OBLIGATIONS HEREUNDER, INCLUDING MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF GEORGIA (WITHOUT REGARD TO THE LAWS OF CONFLICTS THEREOF) AND IS INTENDED TO TAKE
EFFECT AS A SEALED INSTRUMENT. 
 18. RELATIONS WITH AARON. 

Borrower recognizes and acknowledges that the Bank has made the Loans available to Borrower hereunder at the behest of and as an accommodation
to Aaron. Accordingly, Borrower agrees that from time to time the Bank may release to Aaron such information about Borrower and the Loans as Aaron may request, and the Bank may condition its agreement to any waiver, modification or amendment on the
prior written consent of Aaron. Borrower further agrees that upon the occurrence of an Event of Default hereunder, the Bank may notify Aaron of such Event of Default prior to notifying Borrower thereof, and the Bank shall not be liable to Borrower
for failure to give simultaneous notice to Borrower. Borrower further agrees that the Bank shall not be liable to Borrower as a result of any information or document obtained by Bank regarding Borrower which is shared by Bank with Aaron. 

 WITNESS the hand and seal of the parties hereto on the date first above written. 

 

							
	Accepted in Atlanta, Georgia:	 		 		 	
			
		 		 	BORROWER:
			
	  
	 		 	
	  
	 		 	
	  
	 		 	
			
		 		 	BANK:
			
		 		 	SUNTRUST BANK:
				
		 		 	By:	 	  

				
		 		 	Name:	 	  

				
		 		 	Title:	 	  

 EXHIBIT A-1 

FORM OF 
 LINE
OF CREDIT NOTE 
  

			
	Closing Date: [Closing Date]	  	$        

 Atlanta, Georgia 

FOR VALUE RECEIVED, the undersigned,
                    (the “Borrower”), promises to pay to the order of SUNTRUST BANK, a Georgia banking corporation (the “Bank”),
at Bank’s principal office in Atlanta, Georgia, or at such other place as the holder hereof may designate by notice in writing to Borrower, in immediately available funds in lawful money of the United States of America, on
                                        , (the
“Maturity Date”, as such date may be extended from time to time, for an additional 364 day period unless either party terminates the Loan as set forth in Section 2.8 of the Loan and Security Agreement) the lesser of (x) the
principal sum of the Line of Credit Commitment:                      ($        ), or (y) so much
principal thereof as shall have been from time to time disbursed hereunder in accordance with that certain Loan and Security Agreement, dated as of
[                    ], by and between the Borrower and Bank (as amended, restated, modified or supplemented from time to time, the
“Agreement”) and not theretofore repaid, as shown on the records of the Bank. 
 In addition to principal, Borrower agrees to pay
interest on the principal amounts disbursed hereunder at a floating rate of interest equal to the Prime Rate plus an additional
                                        , from
time to time, from the date of each disbursement until paid at such rates of interest per annum and upon such dates as provided for in the Agreement. Interest shall accrue on the outstanding principal balance from the date hereof up to and through
the date on which all principal and interest hereunder is paid in full, and shall be computed on the basis of the actual number of days elapsed in a 360-day year. Such interest is to be paid to Bank at its
address set forth above or as otherwise provided in the Agreement. For informational purposes, as of the date hereof the Prime Rate in effect is     % per annum, thus producing an initial interest rate under the Agreement on such
date of     % per annum and, when adjusted for a year of 365 days, an initial simple interest rate of     % per annum. Any principal amount due under this Line of Credit Note (the “Note”) that is not
paid on the due date therefor whether on the Maturity Date, or resulting from the acceleration of maturity upon the occurrence of an Event of Default (as defined in the Agreement), shall bear interest from the date due until payment in full at the
Default Rate, as such term is defined in the Agreement. 
 This Note evidences a loan incurred pursuant to the terms and conditions of the
Agreement to which reference is hereby made for a full and complete description of such terms and conditions, including, without limitation, provisions for the acceleration of the maturity hereof upon the existence or occurrence of certain
conditions or events, and the terms of any permitted prepayments hereof. All capitalized terms used in this Note shall have the same meanings as set forth in the Agreement. 

Upon the existence or occurrence of any Event of Default, the principal and all accrued interest hereof shall automatically become, or may be
declared, due and payable in the manner and with the effect provided in the Agreement. In addition, this Note is subject to mandatory prepayment upon the terms and conditions of the Agreement. 

Bank shall at all times have a right of set-off against any deposit balances of Borrower in the
possession of the Bank and the Bank may apply the same against payment of this Note or any other 

 
indebtedness of Borrower to the Bank. The payment of any indebtedness evidenced by this Note prior to the Maturity Date shall not affect the enforceability of this Note as to any future,
different or other indebtedness incurred hereunder by the Borrower. In the event the indebtedness evidenced by this Note is collected by legal action or through an
attorney-at-law, the Bank shall be entitled to recover from Borrower all costs of collection, including, without limitation, reasonable attorneys’ fees if collected
by or through an attorney-at-law. 
 Borrower acknowledges
that the actual crediting of the amount of any disbursement under the Agreement to an account of Borrower or recording such amount in the records of the Bank shall, in the absence of manifest error, constitute presumptive evidence of such
disbursement and that such Advance was made and borrowed under the Agreement. Such account records shall constitute, in the absence of manifest error, presumptive evidence of principal amounts outstanding and the payments made under the Agreement at
any time and from time to time, provided that the failure of Bank to record in such account the type or amount of any Advance shall not affect the obligation of the undersigned to repay such amount together with interest thereon in accordance with
this Note and the Agreement. 
 Failure or forbearance of Bank to exercise any right hereunder, or otherwise granted by the Loan Agreement
or by law, shall not affect or release the liability of Borrower hereunder, and shall not constitute a waiver of such right unless so stated by Bank in writing. THIS NOTE AND THE RIGHTS AND OBLIGATIONS HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE
WITH AND BE GOVERNED BY THE LAW (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF) OF THE STATE OF GEORGIA. TIME IS OF THE ESSENCE OF THIS NOTE. 

PRESENTMENT FOR PAYMENT, NOTICE OF DISHONOR AND PROTEST ARE HEREBY WAIVED. 

Executed under hand and seal of the Borrower as of the day and year first above written. 

 

	
	  

	  

	  

 EXHIBIT A-2 

FORM OF 

REVOLVING NOTE 
  

			
	Closing Date: [Closing Date]	  	$        

 Atlanta, Georgia 

FOR VALUE RECEIVED, the undersigned,
                     (the “Borrower”), promises to pay to the order of SUNTRUST BANK, a Georgia banking corporation (the “Bank”),
at Bank’s principal office in Atlanta, Georgia, or at such other place as the holder hereof may designate by notice in writing to Borrower, in immediately available funds in lawful money of the United States of America, on
                                        , (the
“Maturity Date”, as such date may be extended from time to time, for an additional 364 day period unless either party terminates the Loan as set forth in Section 2.8 of the Loan and Security Agreement), the lesser of
(i) principal sum of the Revolving Commitment:                      ($        ), or (ii) so much
thereof as shall have been from time to time disbursed hereunder in accordance with certain Loan and Security Agreement, dated as of
[                    ], by and between the Borrower and Bank (as amended, restated, modified or supplemented from time to time, the
“Agreement”) and not theretofore repaid, as shown on the records of the Bank. 
 In addition to principal, Borrower agrees to pay
interest on the principal amounts disbursed hereunder at a floating rate of interest equal to the Prime Rate plus an additional
                                        , from
time to time, from the date of each disbursement until paid at such rates of interest per annum and upon such dates as provided for in the Agreement. Interest shall accrue on the outstanding principal balance from the date hereof up to and through
the date on which all principal and interest hereunder is paid in full, and shall be computed on the basis of the actual number of days elapsed in a 360-day year. Such interest is to be paid to Bank at its
address set forth above or as otherwise provided in the Agreement. For informational purposes, as of the date hereof the Prime Rate in effect is     % per annum, thus producing an initial interest rate under the Agreement on such
date of     % per annum and, when adjusted for a year of 365 days, an initial simple interest rate of     % per annum. Any principal amount due under this Revolving Note (the “Note”) that is not paid
on the due date therefor whether on the Maturity Date, or resulting from the acceleration of maturity upon the occurrence of an Event of Default (as defined in the Agreement), shall bear interest from the date due until payment in full at the
Default Rate, as such term is defined in the Agreement. 
 This Note evidences loans incurred pursuant to the terms and conditions of the
Agreement to which reference is hereby made for a full and complete description of such terms and conditions, including, without limitation, provisions for the acceleration of the maturity hereof upon the existence or occurrence of certain
conditions or events, and the terms of any permitted prepayments hereof. All capitalized terms used in this Note shall have the same meanings as set forth in the Agreement. 

Upon the existence or occurrence of any Event of Default, the principal and all accrued interest hereof shall automatically become, or may be
declared, due and payable in the manner and with the effect provided in the Agreement. In addition, this Note is subject to mandatory prepayment upon the terms and conditions of the Agreement. 

Bank shall at all times have a right of set-off against any deposit balances of Borrower in the
possession of the Bank and the Bank may apply the same against payment of this Note or any other 

 
indebtedness of Borrower to the Bank, irrespective of whether or not Bank has made any demand under the Loan Agreement. The payment of any indebtedness evidenced by this Note prior to the
Maturity Date shall not affect the enforceability of this Note as to any future, different or other indebtedness incurred hereunder by the Borrower. In the event the indebtedness evidenced by this Note is collected by legal action or through an attorney-at-law, the Bank shall be entitled to recover from Borrower all costs of collection, including, without limitation, reasonable attorneys’ fees if collected by or
through an attorney-at-law. 
 Borrower acknowledges that
the actual crediting of the amount of any disbursement under the Agreement to an account of Borrower or recording such amount in the records of the Bank shall, in the absence of manifest error, constitute presumptive evidence of such disbursement
and that such Advance was made and borrowed under the Agreement. Such account records shall constitute, in the absence of manifest error, presumptive evidence of principal amounts outstanding and the payments made under the Agreement at any time and
from time to time, provided that the failure of Bank to record in such account the type or amount of any Advance shall not affect the obligation of the undersigned to repay such amount together with interest thereon in accordance with this Note and
the Agreement. 
 Failure or forbearance of Bank to exercise any right hereunder, or otherwise granted by the Agreement or by law, shall not
affect or release the liability of Borrower hereunder, and shall not constitute a waiver of such right unless so stated by Bank in writing. THIS NOTE AND THE RIGHTS AND OBLIGATIONS HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED
BY THE LAW (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF) OF THE STATE OF GEORGIA. TIME IS OF THE ESSENCE OF THIS NOTE. 

PRESENTMENT FOR PAYMENT, NOTICE OF DISHONOR AND PROTEST ARE HEREBY WAIVED. 

Executed under hand and seal of the Borrower as of the day and year first above written. 

 

	
	  

	  

	  

 EXHIBIT A-3 

FORM OF 
 TERM
NOTE 
  

			
	Closing Date: [Closing Date]	  	$        

 Atlanta, Georgia 

FOR VALUE RECEIVED, the undersigned,
                     (the “Borrower”), promises to pay to the order of SUNTRUST BANK, a Georgia banking corporation (the “Bank”),
at Bank’s principal office in Atlanta, Georgia, or at such other place as the holder hereof may designate by notice in writing to Borrower, in immediately available funds in lawful money of the United States of America,
                                        
($        ). Repayment will be in          consecutive equal monthly installments of principal in the amount of $         based
on a              month amortization plus accrued and unpaid interest and shall be due and payable on each Payment Date, with the first installment being due and payable on
                    , and the remaining outstanding principal balance, together with all accumulated unpaid interest shall be due and payable on
                     (the “Maturity Date”). 

In addition to principal, Borrower agrees to pay interest on the principal amounts disbursed hereunder at a floating rate of interest equal to
the Prime Rate plus an additional
                                        , from
time to time, upon such dates as provided for in that certain Loan Agreement dated as of [                    ], by and between Borrower and Bank (as
amended, restated, modified or supplemented from time to time, the “Agreement”). Interest shall accrue on the outstanding principal balance from the date hereof up to and through the date on which all principal and interest hereunder is
paid in full, and shall be computed on the basis of the actual number of days elapsed in a 360-day year. Such interest is to be paid to Bank at its address set forth above or as otherwise provided in the
Agreement. For informational purposes, as of the date hereof the Prime Rate in effect is     % per annum, thus producing an initial interest rate under the Agreement on such date of     % per annum and, when
adjusted for a year of 365 days, an initial simple interest rate of     % per annum. Any principal amount due under this Term Note (the “Note”) that is not paid on the due date therefor whether on the due date, or
resulting from the acceleration of maturity upon the occurrence of an Event of Default (as defined in the Agreement), shall bear interest from the date due until payment in full at the Default Rate, as such term is defined in the Agreement. 

This Note evidences a loan incurred pursuant to the terms and conditions of the Agreement to which reference is hereby made for a full and
complete description of such terms and conditions, including, without limitation, provisions for the acceleration of the maturity hereof upon the existence or occurrence of certain conditions or events, and the terms of any permitted prepayments
hereof. All capitalized terms used in this Note shall have the same meanings as set forth in the Agreement. 
 Upon the existence or
occurrence of any Event of Default, the principal and all accrued interest hereof shall automatically become, or may be declared, due and payable in the manner and with the effect provided in the Agreement. In addition, this Note is subject to
mandatory prepayment upon the terms and conditions of the Agreement. 
 Bank shall at all times have a right of set-off against any deposit balances of Borrower in the possession of the Bank and the Bank may apply the same against payment of this Note or any other indebtedness of Borrower to the Bank, irrespective of whether
or not Bank has made any demand under 

 
the Agreement. The payment of any indebtedness evidenced by this Note prior to the Maturity Date shall not affect the enforceability of this Note as to any future, different or other indebtedness
incurred hereunder by the Borrower. In the event the indebtedness evidenced by this Note is collected by legal action or through an attorney-at-law, the Bank shall be
entitled to recover from Borrower all costs of collection, including, without limitation, reasonable attorneys’ fees if collected by or through an attorney-at-law.

 Borrower acknowledges that the actual crediting of the amount of any disbursement under the Agreement to an account of Borrower or
recording such amount in the records of the Bank shall, in the absence of manifest error, constitute presumptive evidence of such disbursement. Such account records shall constitute, in the absence of manifest error, presumptive evidence of
principal amounts outstanding and the payments made under the Agreement at any time and from time to time, provided that the failure of Bank to record in such account the type or amount of any advance shall not affect the obligation of the
undersigned to repay such amount together with interest thereon in accordance with this Note and the Agreement. 
 Failure or forbearance of
Bank to exercise any right hereunder, or otherwise granted by the Loan Agreement or by law, shall not affect or release the liability of Borrower hereunder, and shall not constitute a waiver of such right unless so stated by Bank in writing. THIS
NOTE AND THE RIGHTS AND OBLIGATIONS HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF) OF THE STATE OF GEORGIA. TIME IS OF THE ESSENCE OF THIS NOTE. 

PRESENTMENT FOR PAYMENT, NOTICE OF DISHONOR AND PROTEST ARE HEREBY WAIVED. 

Executed under hand and seal of the Borrower as of the day and year first above written. 

 

	
	  

	  

	  

 EXHIBIT B 
  

	A.	Permitted Liens 

 The following described Liens are Permitted Liens (if none, so
state): 
  

					
	 Name of Lien Holder
	  	Date of Recording	  	Collateral
		  		  	
		  		  	
		  		  	

  

	B.	Trade Names and Styles 

 The following are the only trade names or trade styles
ever used by Borrower (if none, so state): 
  

	C.	Subsidiaries 

 The following are all of the subsidiaries owned by Borrower (if
none, so state): 
  

	D.	Business Locations 

 The following are all of the locations where Borrower has an
office or other place of business or owns assets: 

 EXHIBIT C 

COMPLIANCE CERTIFICATE OF BORROWER 

(Pursuant to Section 7.2 of Loan and Security Agreement dated
                    ) 

                    (the “Borrower”) HEREBY
CERTIFIES that: 
 This Compliance Certificate is furnished pursuant to the Loan and Security Agreement (the “Agreement”) dated
                     by and between the Borrower and SUNTRUST BANK (the “Bank”). Unless otherwise defined herein, the terms used in this
Report have the meanings given to them in this Agreement. 
 1. The figures and information for determining compliance by the Borrower with
the financial covenants set forth in the Quarterly Covenant Compliance Report attached hereto have been prepared based upon the financial reports accompanied hereby and both the Quarterly Covenant Compliance Report and such financial reports are
true and complete as of the date hereof. 
 2. The activities of the Borrower during the preceding quarter have been reviewed by the
president or other authorized officer or the employees or agents under his immediate supervision. Based on such review, to the best knowledge and belief of the president or other authorized officer, and as of the date of this Certificate, the
Borrower has performed and observed each and every covenant contained in the Agreement to be performed by it, and no Event of Default or Default Condition exists, except for the following: 

Please describe or indicate “None” if none exist: 
  

	
	  

	  

	  

 3. The Borrower has properly and accurately reported all Asset Dispositions pursuant to Section 2.12 of
the Agreement. 
 WITNESS my hand this         day of
            ,         . 

 EXHIBIT D 

QUARTERLY COVENANT COMPLIANCE REPORT 

(Section 6 - Financial Covenants) 
  

							
	 Test Borrower
	 		  	
				
	For Quarter Ending:	 	  
	 		  	

 With respect to the financial covenants set forth below which are calculated based upon the Opening Date of a
store location, the financial information from store locations that have not reached the Opening Date anniversary incorporated into such covenants shall be excluded from such calculations. [Debt Service and] Debt attributable to such locations and
deducted from the final calculations shall be deducted on a pro rata basis calculated by dividing such stores’ aggregate Net Book Value of Merchandise by the Net Book Value of Merchandise for all store locations. The financial covenants shall
otherwise be calculated on a consolidated basis as to all store locations. 
  

							
	I.	 	Rental Revenue to Debt Service	  	
				
		 	A.	 	Enter amount of quarterly Rental Revenue.	  	$            
				
		 	B.	 	Enter amount of quarterly Rental Revenue attributable to store locations open less than 25 months.	  	$            
				
		 	C.	 	Subtract B from A.	  	$            
				
		 	D.	 	Enter amount of quarter’s Debt Service. $            	  	
				
		 	E.	 	Enter amount of quarter’s Debt Service attributable to store locations open less than 25 months.	  	$            
				
		 	F.	 	Subtract E from D.	  	$            
				
		 		 	 Ratio of C:F.
	  	
			
		 		 	 STANDARD — Ratio not less than — 2.2: 1.0

				
		 		 	Compliance?  ̈ Yes     ̈ No	  	
			
	II.	 	Debt to Rental Revenue	  	
				
		 	A.	 	Enter amount of Debt.	  	$            
				
		 	B.	 	[Enter amount of Debt attributable to store locations open less than 19 months.	  	$            ]
				
		 	C.	 	[Subtract B from A.	  	$            ]

							
				
		 	D.	 	Enter Amount of last quarter’s Rental Revenue.	  	$            
				
		 	E.	 	[Enter amount of last quarter’s Rental Income attributable to store locationsopen less than 19 months.	  	$            ]
				
		 	F.	 	[Subtract E from D.	  	$            ]10
				
		 		 	 Ratio of C : F.
	  	
				
		 		 	 STANDARD [    ]:1.0
	  	
				
		 		 	Compliance?  ̈ Yes     ̈ No	  	

 Note: All terms are those used in generally accepted accounting practices unless specifically defined in the Agreement. 

 

	10 	Note: This covenant will apply and be tested on last day of each calendar quarter and not be tied to any Opening Date of store locations in the case of any Loan Agreement providing for Loans to made available to a
Borrower consisting solely of Revolving Loans. In which case, the bracketed portions of this Debt to Rental Revenue covenant will not be applicable. Covenant levels for this covenant will be established by Sponsor for each Borrower as per the
Servicing Agreement.Exhibit10-47

Exhibit 10.47

EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into effective as of the 10th day of November, 2014 (the “Effective Date”), by and among Aaron’s, Inc., a corporation organized under the laws of the State of Georgia (the “Company”), Progressive Holdings, LLC, a Delaware limited liability company (“Progressive”) and John W. Robinson (“Executive”).
WHEREAS, the Company, Progressive and Executive are party to an Employment Agreement dated April 14, 2014 (the “Prior Employment Agreement”);
WHEREAS, the Company desires to continue to employ Executive, and Executive desires to continue to be employed by the Company on the terms and conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the promises, agreements and conditions contained in this Agreement, the parties hereto agree as follows:
1.    Employment. Subject to the terms and conditions of this Agreement, Executive shall be employed by the Company as the Chief Executive Officer of the Company, and shall perform such reasonable duties and functions for the Company and any company controlling, controlled by or under common control with the Company (such companies hereinafter collectively called “Affiliates”) as shall be specified from time to time by the Board of Directors of the Company (the “Board”); Executive hereby accepts such employment and agrees to perform such executive duties as may be reasonably assigned to him.
2.    Duties. Executive shall devote his full business related time and best efforts to accomplishing such executive duties as are customary and incidental to the position of Executive or such other lawful duties as may be from time to time reasonably requested by the Board. While employed by the Company, Executive shall not serve as a principal, partner, employee, officer or director of, or consultant to, any other business or entity conducting business for profit without the prior written approval of the Board. As long as it does not interfere with the performance of Executive’s duties for the Company, Executive may spend a reasonable amount of time supervising his personal, passive investments, and may participate (as a board member, officer or volunteer) in civic, political and charitable activities. In addition, Executive shall be permitted to serve on the board of directors of for-profit corporations (in addition to the Board of the Company) with the approval of the Board as long as such service does not interfere with the performance of Executive’s duties for the Company. Approval shall be deemed to have been given with respect to any director positions held by Executive on the Effective Date. 
3.    Term. The term of this Agreement shall be for a rolling, three (3) year term commencing on the date hereof, and shall be deemed automatically (without further action by either the Company or Executive) to extend each day for an additional day such that the remaining term of the Agreement shall continue to be three (3) years; provided, however, that the Company may, by notice to Executive, cause this Agreement to cease to extend automatically and, upon such notice, the “Term” of this Agreement shall be three (3) years following such notice.

4.    Compensation, Benefits and Other Arrangements. As compensation for his services during the Term of this Agreement, Executive shall be paid and receive the amounts and benefits set forth in subsections (a) through (i) below:
(a)    Base Salary. An annual base salary (“Base Salary”) of $700,000 prorated for any partial year of employment. Executive’s Base Salary shall be subject to annual review, for adjustments at such time as the Company conducts salary reviews for its executive officers generally, subject to approval of the Compensation Committee or Board, as appropriate, which shall not be less than $700,000.  Executive’s salary shall be payable in accordance with the Company’s regular payroll practices in effect from time to time for executive officers of the Company.
(b)    Bonus. In addition to the Base Salary, Executive shall be entitled to participate in the Company’s annual incentive plan in a manner consistent with the other senior executives of the Company. For 2014, Executive’s bonus shall be determined based on the terms of the Prior Employment Agreement. For 2015, Executive shall be eligible to earn a bonus with an annual target equal to one hundred percent (100%) of Executive’s then-current Base Salary, based on the achievement of performance metrics determined by the Board after consultation in good faith with Executive. Executive’s annual target bonus opportunity shall be subject to annual review, for adjustments at such time as the Company conducts bonus reviews for its executive officers generally, subject to approval of the Compensation Committee or Board, as appropriate.
(c)    Long-Term Incentive Plan. Executive shall be eligible to participate in the Company’s long-term incentive plan beginning in 2015, in accordance with the terms of such plan, as in effect from time to time and in a manner consistent with other senior executives and commensurate with Executive’s position, with Executive receiving credit for the period of Executive’s employment with Progressive prior to the Effective Date for purposes of any length of service requirements under such plan. Executive’s target award value for 2015 shall be $5,200,000, of which 50% (i.e., $2,600,000) shall be allocated as a grant of performance-based restricted sock units (the “PSUs”), 25% (i.e., $1,300,000) shall be allocated as a grant of stock options (the “Options”) and 25% (i.e., $1,300,000) shall be allocated as a grant of time-based restricted stock units (the “RSUs” and collectively, with the PSUs and Options, the “LTI Awards”).  The performance metrics for the PSUs shall be determined by the Board after consultation in good faith with Executive.  Each LTI Award shall be granted pursuant to the Company’s Amended and Restated 2001 Stock Option and Incentive Award Plan (the “Plan”) and shall vest in equal annual installments on each of the first, second and third anniversaries of the Effective Date, subject to the terms and conditions of the applicable award agreement.  Executive’s annual target award value shall be subject to annual review, for adjustments at such time as the Company conducts award reviews for its executive officers generally, subject to approval of the Compensation Committee or Board, as appropriate. 
(d)    Other Benefits. Executive shall be entitled to vacation with pay, life insurance, health insurance, fringe benefits, and such other employee benefits generally made available by the Company to its senior executive officers, in accordance with the established plans and policies of the Company, as in effect from time to time, with Executive receiving credit for the 

2

period of Executive’s employment with Progressive prior to the Effective Date for purposes of any length of service requirements under such plans or policies.
(e)    Indemnification. During the Term of this Agreement and after Executive’s termination, the Company shall indemnify Executive and hold Executive harmless from and against any claim, loss or cause of action arising from or out of Executive’s performance as an officer, director or employee of the Company or any of its subsidiaries or other affiliates or in any other capacity, including any fiduciary capacity, in which Executive serves at the Company’s request, in each case to the maximum extent permitted by law and under the Company’s Articles of Incorporation and By-Laws. During the Term and after Executive’s termination, Executive shall be covered by any policy of directors’ and officers’ liability insurance maintained by the Company for the benefit of its officers and directors.
(f)    Transition and Relocation Arrangements. Executive shall use reasonable efforts to relocate his primary residence to the Atlanta, Georgia metropolitan area no later than August 31, 2015.  Until such time as Executive relocates his primary residence to the Atlanta, Georgia metropolitan area, Executive shall be provided, at the expense of the Company, the Company’s aircraft or other private aircraft services for personal travel between his primary residence and Atlanta, Georgia; provided, however, that the incremental cost to the Company of such personal use shall not exceed $150,000 without the prior approval of the Board or the Compensation Committee.  Members of Executive’s immediate family may accompany Executive on such travel.  Executive shall be solely responsible for any taxable income recognized by him in connection with the personal use of the Company aircraft and shall not be entitled to any tax gross up payments or other reimbursement from the Company in connection therewith.
(g)    Business Travel. Executive shall be permitted to use, at the expense of the Company, the Company’s aircraft or other private aircraft for all business-related flights and/or flights incurred by Executive in connection with the performance of Executive’s duties hereunder.
(h)    Attorney’s Fees. Not later than 15 days following the execution of this Agreement, the Company shall reimburse Executive’s reasonable costs of entering into this Agreement, including the reasonable fees and expenses of the Executive’s counsel, up to a maximum of $20,000.
(i)    Restricted Stock Unit Grant. As of the Effective Date, the Company shall grant Executive 5,000 restricted stock units pursuant to the Plan, which shall vest 100% on the first anniversary of the Effective Date, subject to the terms and conditions of the applicable award agreement.
5.    Termination. Executive’s employment hereunder may be terminated as follows:
(a)    By Executive. Executive may voluntarily terminate his employment hereunder at any time, to be effective 60 days after delivery to the Company of his signed, written resignation. 

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Company may accept said resignation and pay Executive his Base Salary for such notice period in lieu of waiting for passage of the notice period.
(b)    By Executive for Good Reason. Executive may terminate his employment for Good Reason (as defined below) in accordance with the Good Reason Process.
(c)    By the Company for Cause. The Company may terminate Executive’s employment for Cause (as defined below) at any time, subject to the notice provisions in Section 5(g)(i) below.
(d)    By the Company without Cause. Subject to Section 6 below, the Company may terminate Executive’s employment hereunder, without Cause, at any time upon written notice to Executive.
(e)    Upon Death. Executive’s employment shall terminate immediately upon Executive’s death.
(f)    Due to Disability. The Company may terminate Executive’s employment if Executive, due to physical or mental injury or illness, is unable to perform the essential functions of his position with or without reasonable accommodation for a period of one hundred eighty (180) days, whether or not consecutive, occurring within any period of twelve (12) consecutive months (a “Disability”), subject to any limitation imposed by federal, state or local laws, including, without limitation, the American with Disabilities Act.
(g)    Definitions. For purposes of this Agreement, the following terms have the following meanings:
(i) “Cause” shall mean: (A) Executive’s material fraud, malfeasance, gross negligence, or willful misconduct with respect to business affairs of the Company which is, or is reasonably likely to be if such action were to become known by others, directly or materially harmful to the business or reputation of the Company or any subsidiary of the Company; (B) Executive’s conviction of or failure to contest prosecution for a felony or a crime involving fraud, embezzlement, theft or moral turpitude; or (C) Executive’s material breach of this Agreement. A termination of Executive for Cause based on clause (A) or (C) of the preceding sentence shall take effect 30 days after Executive receives from Company written notice of intent to terminate and Company’s description of the alleged Cause, unless Executive shall, during such 30-day period, remedy the events or circumstances constituting Cause; provided, however, that such termination shall take effect immediately upon the giving of written notice of termination of Cause under any clause if the Company shall have determined in good faith that such events or circumstances are not remediable (which determination shall be stated in such notice).
(ii) “Change in Control” shall mean:
(a) The acquisition (other than from the Company) by any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the 

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Act (but without regard to any time period specified in Rule 13d-3(d)(1)(i))), of thirty-five percent (35%) or more of the combined voting power of then outstanding securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); excluding, however, (1) any acquisition by the Company or (2) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company;
(b) A majority of the members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of the appointment or election; or
(c) Consummation by the Company of a reorganization, merger, or consolidation or sale of all or substantially all of the assets of the Company (a “Transaction”); excluding, however, a Transaction pursuant to which (i) all or substantially all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding Company Voting Securities immediately prior to such Transaction will beneficially own, directly or indirectly, more than 50 percent of the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors of the corporation resulting from such Transaction (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or indirectly) in substantially the same proportions relative to each other as their ownership, immediately prior to such Transaction, of the Outstanding Company Voting Securities.
Provided, however, a Change in Control shall not be deemed to occur unless the transaction also constitutes a change in the ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company, each as defined in Section 409A(a)(2)(A)(v) of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder.
(iii) “Good Reason” shall mean that Executive has complied with the Good Reason Process following the occurrence of any of the following events or actions: (A) any material reduction in Executive’s Base Salary, (B) any material reduction in Executive’s authority, duties or responsibilities (for the avoidance of doubt, if, at any time following a Change in Control, the Board or the Company takes action such that Executive is no longer the Chief Executive Officer of the Company or its successor, or if the Company or its successor is a subsidiary of another entity, the ultimate parent entity of the Company or its successor, then a material reduction in Executive’s authority, duties or responsibilities shall be deemed to have occurred), (C) any change in the geographic location at which Executive must perform his duties requiring Executive to be based at 

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any office or location more than 50 miles from Atlanta, Georgia or (D) any material breach of this Agreement by the Company.
(iv) “Good Reason Process” shall mean that (A) Executive reasonably determines in good faith that a “Good Reason” condition has occurred; (B) Executive notifies the Company in writing of the first occurrence of the Good Reason condition within 60 days of the first occurrence of such condition; (C) Executive cooperates in good faith with the Company’s efforts, for a period not less than 30 days following such notice (the “Cure Period”), to remedy the condition; (D) notwithstanding such efforts, the Good Reason condition continues to exist; and (E) Executive terminates his employment within 60 days after the end of the Cure Period.  If the Company cures the Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred.
(v) “Protection Period” shall mean the period which begins on the date of a Change in Control and ends on the second anniversary of such Change in Control.
6.    Payments upon Termination.
(a)    By Executive not for Good Reason. If Executive voluntarily terminates his employment at any time, other than for Good Reason, then Executive shall be entitled to no payment or compensation whatsoever from the Company under this Agreement, other than accrued amounts as may be due him through his last day of employment (the “Termination Date”), including Executive’s Base Salary and any Earned Bonus through the Termination Date. “Earned Bonus” shall mean any bonus that was earned by and payable to Executive but that was not yet paid as of the Termination Date. The Earned Bonus shall be paid on the 60th day following the Termination Date.  In addition, Executive shall be entitled to a prorated annual bonus for the year in which he terminates, calculated under the applicable bonus plan based on the actual performance results for the year, but prorated for the number of months Executive was employed during such year.  Any such prorated annual bonus shall be payable at the same time such bonuses are paid to other executive officers.
(b)    By the Company for Cause. If the Company terminates Executive’s employment for Cause, Executive shall be entitled to no payment or compensation whatsoever from the Company under this Agreement, other than accrued amounts as may be due him through the Termination Date, including Executive’s Base Salary and any Earned Bonus through the Termination Date
(c)    By Company other than for Cause or by Executive for Good Reason. If, prior to the end of the Term of this Agreement and outside of Executive’s Protection Period, (i) the Company terminates Executive’s employment without Cause and other than due to Disability (or death) or, (ii) Executive terminates his employment for Good Reason after complying with the Good Reason Process, and in each case if Executive executes and does not timely revoke a release of claims in favor of the Company (as discussed in Section 6(h) below), Executive shall be entitled to receive as damages payable as a result of, and arising from, a breach of this Agreement (in addition to any amounts that have otherwise accrued but remain unpaid prior to such termination), the compensation and benefits set forth in (i) through (v) below. All 

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compensation payable under (i) through (v) below shall be subject to the terms of Section 9 below, which may delay the payment of the compensation for up to 6 months.
(i) Base Salary and Target Bonus. Executive will (a) continue to receive his current Base Salary (subject to withholding of all applicable taxes) for a period of twenty-four (24) months from the Termination Date, payable in normal payroll periods, in the same manner as it was being paid as of the Termination Date, and no less frequently than monthly and (b) receive additional cash payments from the Company (subject to withholding of all applicable taxes) in each of the twenty-four (24) months following the month in which his employment is terminated in an amount for each such month equal to one-twelfth of his target annual incentive for the year in which such termination occurs; provided, however, any payments that would otherwise be payable during the first 60 days following the Termination Date shall be accumulated without interest and paid on the 60th day following the Termination Date. For purposes hereof, Executive’s “current Base Salary” shall be the highest rate in effect during the twelve-month period prior to Executive’s termination.
(ii) Pro Rata Bonus. The Company shall (subject to withholding of all applicable taxes) pay executive an amount equal to the product of (a) the average (“Average Bonus”) of the bonuses earned by him for the two calendar years immediately preceding the year in which such Termination Date occurs (provided, however, that if such Termination Date occurs before the completion of two full fiscal years after the Effective Date, the Average Bonus will be based on the average bonuses during the full (if any) and partial fiscal years after the Effective Date, using the actual bonus paid for any completed year and the target bonus for any year not yet complete) and (b) a fraction, the numerator of which is the number of days from January 1 of the year during which the Termination Date occurs to the Termination Date and the denominator of which is 365. This severance benefit shall be payable in equal monthly installments for a period of twenty-four (24) months from the Termination Date; provided, however, any payments that would otherwise be payable during the first 60 days following the Termination Date shall be accumulated without interest and paid on the 60th day following the Termination Date. Any bonus amounts that Executive had previously earned from the Company but which may not yet have been paid as of the date of termination shall not be affected by this provision. 
(iii) Health and Dental Insurance Coverage. Executive (and any spouse or dependents covered at the time of Executive’s termination) shall be entitled to elect to continue coverage under the Company’s group medical and dental programs as provided under COBRA. To continue such coverage, Executive will be required to pay the applicable COBRA premiums. To help compensate Executive for the cost of COBRA or alternative medical and dental coverage, the Company shall pay Executive a lump sum, on the 60th day following the Termination Date, equal to an amount such that after payment of all estimated taxes on such amount, Executive retains a net amount equal to the difference between (a) the applicable monthly COBRA premium and (b) the monthly 

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premium that an active employee would pay for the same coverage, as of the Termination Date, multiplied by twenty-four (24).
(iv) Stock Options and Other Equity Awards. As of the Termination Date, all outstanding stock options, stock appreciation rights, restricted stock units, and other equity awards granted to Executive under the Plan and any other Company stock plans (the “Stock Plans”) shall become vested and exercisable to the extent provided under the terms of the applicable Stock Plans and award agreements.
(v) Accrued Vacation. Executive shall receive payment for all accrued paid time off through the Termination Date on the 60th day following the Termination Date.
(d)    Change of Control Termination. If, prior to the end of the Term of this Agreement and during Executive’s Protection Period, (i) the Company terminates Executive’s employment without Cause and other than due to disability (or death) or, (ii) Executive terminates his employment for Good Reason, and in each case if Executive executes and does not timely revoke a release of claims in favor of the Company (as discussed in Section 6(h) below), Executive shall be entitled to receive as damages payable as a result of, and arising from, a breach of this Agreement (in addition to any amounts that have otherwise accrued but remain unpaid prior to such termination), the compensation and benefits set forth in (i) through (v) below. All compensation payable under (i) through (v) below shall be subject to the terms of Section 9 below, which may delay the payment of the compensation for up to 6 months.
(i) Base Salary and Target Bonus. Executive will receive a lump sum payment on the 60th day following the Termination Date (subject to withholding of all applicable taxes) equal to the sum of (a) two (2) times his current Base Salary and (b) two (2) times his target annual incentive for the year in which such termination occurs. For purposes hereof, Executive’s “current Base Salary” shall be the highest rate in effect during the twelve-month period prior to Executive’s termination.
(ii) Pro Rata Bonus. The Company shall (subject to withholding of all applicable taxes) pay executive an amount equal to the product of (a) the Average Bonus  and (b) a fraction, the numerator of which is the number of days from January 1 of the year during which the Termination Date occurs to the Termination Date and the denominator of which is 365. This severance benefit shall be payable in lump sum payment on the 60th day following the Termination Date (subject to withholding of all applicable taxes). 
(iii) Health and Dental Insurance Coverage. Executive (and any spouse or dependents covered at the time of Executive’s termination) shall be entitled to elect to continue coverage under the Company’s group medical and dental programs as provided under COBRA. To continue such coverage, Executive will be required to pay the applicable COBRA premiums. To help compensate Executive for the cost of COBRA or alternative medical and dental coverage, the Company shall pay Executive a lump sum, on the 60th day following Executive’s Termination Date, equal to an amount such that after payment of all estimated taxes on such amount, Executive retains a net amount 

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equal to the cost of the applicable monthly COBRA premium as of Executive’s Termination Date, multiplied by twenty-four (24).
(iv) Stock Options and Other Equity Awards. As of the Termination Date, all outstanding stock options, stock appreciation rights, restricted stock units, and other equity awards granted to Executive under the Stock Plans shall become vested and exercisable to the extent provided under the terms of the applicable Stock Plans and award agreements.
(v) Accrued Vacation. Executive shall receive payment for all accrued paid time off through Executive’s Termination Date on the 60th day following Executive’s Termination Date.
(e)    By Death. If Executive’s employment is terminated due to Executive’s death, Executive’s surviving spouse, or if none, his estate, shall receive no later than 60 days after Executive’s death, any amounts accrued through his date of death, including Base Salary and Earned Bonus, plus a prorated bonus for such fiscal year equal to the bonus that would be payable to Executive under any annual bonus plan based on the Company’s performance at the end of the last completed fiscal quarter, prorated as appropriate based on the number of days he worked in such year, divided by 365 days (the “Prorated Annual Bonus”). No additional amounts shall be payable under this Agreement. Executive or his estate, as the case may be, shall not by operation of this Section forfeit any rights in which he is vested at the time of his death.
(f)    For Disability. If Executive’s employment is terminated due to Executive’s Disability, Executive shall be entitled to receive no later than 60 days after his termination, any amounts accrued through the Termination Date for Disability, including Base Salary and Earned Bonus, plus a Prorated Annual Bonus. No additional amounts shall be payable under this Agreement. Executive shall not by operation of this Section forfeit any rights in which he is vested at the time of his termination for disability.
(g)    Survival of Restrictive Covenants. Upon termination of Executive’s employment for any reason whatsoever (whether voluntary on the part of Executive, for Cause, or other reasons), the obligations of Executive pursuant to Sections 7 and 8 hereof shall survive and remain in effect for the periods described in Section 7.
(h)    Requirements for a Release. Payments and benefits under Sections 6(c) and 6(d) above are conditioned upon Executive timely signing and returning, and then not revoking, a release in the form reasonably requested by the Company (the “Release”). The Release will release rights and claims against the Company that are in existence at the time of signing the Release, whether they are known or not known by Executive. The Release will not release rights under this Agreement, vested rights under the Company’s benefit plans, or Executive’s right to indemnification as provided herein (or in any other agreement between the Company and Executive) and as provided under the Company’s bylaws or other governing instruments. The Release will be provided to Executive no later than the seventh day following the Termination Date. The Release will specify the time period for Executive to review and consider the Release and the deadline for returning the executed Release, as well as any applicable revocation period. 

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To allow time for Executive to consider the Release, and in accordance with applicable law, payments and benefits will generally not commence until the 60th day following the Termination Date. If Executive does not sign and return the Release or, if applicable, timely revokes the Release, Executive shall only be entitled to amounts accrued through the Termination Date and the additional amounts in Sections 6(c) and 6(d) above shall not be payable.
(i)    Payments after Death. In the event there are any monies due under this Agreement after the death of Executive, the Company shall pay such monies to Executive’s estate in a lump sum payment within thirty (30) days after the date of death.
7.    Restrictive Covenants.
(a)    Acknowledgments.
(i) Access to Confidential Information.  Executive acknowledges and agrees that Executive has been and will be provided and entrusted with Confidential Information (as that term is defined below) during Executive’s employment with the Company, including highly confidential information that is subject to extensive measures to maintain its secrecy within the Company, is not known in the trade or disclosed to the public, and would materially harm the Company’s legitimate business interests if it was disclosed or used in violation of this Agreement.
(ii) Valuable Customer, Franchisee and Associate Relationships.  Executive acknowledges and agrees that the Company’s relationships and goodwill with its current and prospective customers and franchisees and its associates are critical to the Company’s long-term success.
(iii) Potential Unfair Competition.  Executive acknowledges and agrees that as a result of Executive’s employment with the Company, knowledge of and access to Confidential Information, and relationships with the Company’s customers, franchisees, associates and employees, Executive would have an unfair competitive advantage if Executive were to engage in activities in violation of the covenants set forth in this Agreement.  Executive further acknowledges and agrees that such covenants are reasonable and necessary to protect the Company’s legitimate business interests.
(iv) No Undue Hardship.  Executive acknowledges and agrees that Executive possesses marketable skills and abilities that will enable Executive to find suitable employment following the Termination Date, without violating the covenants set forth in this Agreement.
(b)    Definitions.  The following capitalized terms used in this Agreement shall have the meanings assigned to them below, which definitions shall apply to both the singular and the plural forms of such terms:
(i) “Competitive Services” means directly or indirectly (i) engaging in or franchising the sale, lease ownership or financing of new, rental, or reconditioned 

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residential furniture, consumer electronics, home appliances or wheels and tires accessories or other activities, in each case, in a manner that is competitive with the products and services offered by the Company or its subsidiaries and/or (ii) providing web-based, virtual or remote lease-to-own programs or financing that are competitive with the products and services offered by, the Company or its subsidiaries.  For purposes hereof, “Services” is defined as providing executive-level management and strategic guidance with respect to any Competitor.
(ii) “Competitor” means any Person, other than the Company and its subsidiaries, that is engaged, in whole or in part, in Competitive Services, including, but not by way of limitation, the following entities which Executive acknowledges and agrees directly compete with the Company: AcceptanceNow; American First Finance, Inc.; American Rental; Bi-Rite Co., d/b/a Buddy’s Home Furnishings; Bestway Rental, Inc.; Better Finance, Inc.; billfloat; Bluestem Brands, Inc.; Conn’s, Inc.; Crest Financial; Curacao Finance; Dent-A-Med, Inc. d/b/a The HELPcard; Discover Rentals; Easyhome, Inc.; Flexi Compras Corp.; FlexShopper LLC; Fortiva Financial, LLC; Genesis Financial Solutions, Inc.; Lendmark Financial Services, Inc.; Mariner Finance, LLC; Merchants Preferred Lease-Purchase Services; New Avenues, LLC; Okinus; Premier Rental-Purchase, Inc.; OneMaine Financial Holdings, Inc.; Purchasing Power, LLC; Regional Management Corp.; Rent-A-Center, Inc. (including, but not limited to, Colortyme); Santander Consumer USA Inc.; Springleaf Financial; Tidewater Finance Company; WhyNotLeaseIt, as well as any other parent, owner or affiliated corporate entity or person of any of the listed Companies or trade names above to the extent such parent, owner or affiliated corporate entity or person provides Competitive Services.
(iii) “Confidential Information” means any and all data and information relating to the Company, its activities, business, or clients that (1) is disclosed to Executive or of which Executive becomes aware as a consequence of Executive’s employment with the Company; (2) has value to the Company; and (3) is not generally known outside of the Company.  “Confidential Information” shall include, but is not limited to the following types of information regarding, related to, or concerning the Company: trade secrets (as defined by O.C.G.A. § 10-1-761); financial plans and data; management planning information; business plans; operational methods; market studies; marketing plans or strategies; rate and pricing information; product development techniques or plans, including, but not limited to, information on the development, maintenance and use of unique techniques, concepts and knowledge with respect to renting, leasing, and selling practices; and information relating to the machinery, equipment, and processes by which the Company manufactures products for its business; customer lists; customer files, data and financial information; details of customer contracts; current and anticipated customer requirements; information dealing with the nature of customers’ accounts, including the dates on which agreements between the Company and such customers will end and be subject to renewal; identifying and other information pertaining to business referral sources; past, current and planned research and development; computer aided systems, software, strategies and programs; business acquisition plans; management organization and related information (including, without limitation, data and other information 

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concerning the compensation and benefits paid to officers, directors, associates, employees and management); personnel and compensation policies; new personnel acquisition plans; and other similar information.  In addition to data and information relating to the Company, “Confidential Information” also includes any and all data and information relating to or concerning a third party that otherwise meets the definition set forth above, that was provided or made available to the Company by such third party, and that the Company has a duty or obligation to keep confidential.  This definition shall not limit any definition of “confidential information” or any equivalent term under state or federal law.  “Confidential Information” shall not include (i) data or information that has become generally available to the public by the act of one who has the right to disclose such information without violating any right or privilege of the Company, (ii) data or information that has been voluntarily disclosed by the Company except where such public disclosure has been made by Executive without the Company’s authorization, or (iii) data or information which has been independently developed by Executive outside of his role as an employee of the Company without reference to the Confidential Information or has been independently developed and disclosed by others.
(iv) “Material Contact” means contact between Executive and a customer or potential customer of the Company, or between Executive and a franchisee or potential franchisee of the Company, (1) with whom Executive has or had dealings on behalf of the Company; (2) whose dealings with the Company are or were coordinated or supervised by Executive; or (3) about whom Executive obtains Confidential Information in the ordinary course of business as a result of Executive’s employment with the Company.
 (v) “Person” means any individual or any corporation, partnership, joint venture, limited liability company, association or other entity or enterprise.
(vi) “Principal or Representative” means a principal, owner, partner, shareholder, joint venturer, investor, member, trustee, director, officer, manager, associate, agent, representative or consultant.
(vii) “Protected Customer” means any Person to whom the Company has sold its products or services or actively solicited to sell its products or services, and with whom Executive has had Material Contact on behalf of the Company during Executive’s employment with the Company.
(viii) “Protected Franchisee” means any Person who is a franchisee of the Company, and with whom Executive has had Material Contact on behalf of the Company during Executive’s employment with the Company.
(ix) “Protected Work” means any and all ideas, inventions, formulas, source codes, object codes, techniques, processes, concepts, systems, programs, software, software integration techniques, hardware systems, schematics, flow charts, computer data bases, client lists, trademarks, service marks, brand names, trade names, compilations, documents, data, notes, designs, drawings, technical data and/or training materials, including improvements thereto or derivatives therefrom, whether or not 

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patentable, and whether or not subject to copyright or trademark or trade secret protection, conceived, developed or produced by Executive, or by others working with Executive or under Executive’s direction, during the period of Executive’s employment, or conceived, produced or used or intended for use by or on behalf of the Company or its customers.
(x) “Restricted Period” means the period beginning on the date hereof and ending on the second anniversary of the Termination Date.
(xi) “Restricted Territory” means the United States, which is the geographic area in which the Company does business.
(xii) “Restrictive Covenants” means the restrictive covenants contained in Sections 7(c) through 7(g) hereof.
(c)    Restriction on Disclosure and Use of Confidential Information.  Executive agrees that Executive shall not, directly or indirectly, use Confidential Information on Executive’s own behalf or on behalf of any Person other than the Company, or reveal, divulge, or disclose any Confidential Information to any Person not expressly authorized by the Company to receive Confidential Information.  This obligation shall remain in effect for as long as the information or materials in question retain their status as Confidential Information.  Executive further agrees that Executive shall fully cooperate with the reasonable requests of the Company in maintaining the Confidential Information to the extent permitted by law.  The Parties acknowledge and agree that this Agreement is not intended to, and does not, alter either the Company’s rights or Executive’s obligations under any state or federal statutory or common law regarding trade secrets and unfair trade practices.  Anything herein to the contrary notwithstanding, Executive shall not be restricted from disclosing information that is required to be disclosed by law, court order or other valid and appropriate legal process; provided, however, that in the event such disclosure is required by law, Executive shall provide the Company with prompt notice of such requirement so that the Company may seek an appropriate protective order prior to any such required disclosure by Executive.
(d)    Non-Competition.  Executive agrees that, during the Restricted Period, Executive will not, without the prior written consent of the Company, directly or indirectly (i) within the Restricted Territory, carry on or engage in any of the Competitive Services which Executive engages or engaged in as an employee of the Company, or (ii) own, manage, operate, join, control or participate in the ownership, management, operation or control, of any business, whether in corporate, proprietorship or partnership form or otherwise, that  is a Competitor; provided, however, that the following shall not be deemed to violate this clause (ii): (A) ownership in and of itself of less than five percent (5%) of a publicly traded company; (B) Executive’s existing passive investment in 5 Star Rental Purchase that has been disclosed in writing to the Company; and (C) Executive’s ownership of equity incentive securities in a Person in connection with Executive’s service relationship with such Person (or an affiliate of such Person), where such service relationship does not involve or relate to, directly or indirectly, the provision of Competitive Services.  

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(e)    Non-Solicitation of Protected Customers.  Executive agrees that, during the Restricted Period, Executive shall not, without the prior written consent of the Company, directly or indirectly, on Executive’s own behalf or as a Principal or Representative of any Person, solicit, divert, take away from the Company, or attempt to solicit, divert, or take away from the Company a Protected Customer with respect to products and services within the scope of the Competitive Services.
(f)    Non-Recruitment of Employees.  Executive agrees that, during the Restricted Period, Executive shall not, directly or indirectly, whether on Executive’s own behalf or as a Principal or Representative of any Person, solicit or induce, or attempt to solicit or induce, any associate or employee of the Company to terminate his or her employment relationship with the Company or to enter into employment with the Executive or any other Person.  Notwithstanding the foregoing, nothing in this Section shall prohibit (i) general solicitations for employment and advertisements that are not specifically targeted towards employees of the Company, or (ii) using search firms that are not instructed to target employees of the Company.
(g)    Non-Recruitment of Protected Franchisees.  Executive agrees that, during the Restricted Period, Executive shall not, directly or indirectly, whether on Executive’s own behalf or as a Principal or Representative of any Person, solicit or induce, or attempt to solicit or induce, any Protected Franchisee of the Company to terminate its relationship with the Company.
(h)    Standstill.  Executive agrees that, during the two years following the Termination Date, Executive shall not, directly or indirectly, alone or in concert with others, (i) seek to control or change the management, Board or policies of the Company, or (ii) make or in any way participate in any “solicitation” of proxies or consents to vote any securities of the Company.
(h)    Tolling.  In the event the enforceability of any of the Restrictive Covenants is challenged in a claim or counterclaim in court during the Restricted Period, and Executive is not immediately enjoined from breaching such Restrictive Covenant, then if a court of competent jurisdiction later finds that such Restrictive Covenant is enforceable, the Restricted Period applicable to such Restrictive Covenant shall be deemed tolled upon the filing of the claim or counterclaim until the dispute is finally resolved; provided, however, that to the extent Executive complies with such Restrictive Covenant during such challenge, the Restricted Period applicable to such Restrictive Covenant shall not be deemed tolled.  The Company’s rights and remedies as set forth in this Section 7 shall be in addition to, and not in lieu of, any other rights and remedies available to the Company at law or in equity.
(i) Severability and Modification of Covenants.  Executive acknowledges and agrees that each of the Restrictive Covenants is reasonable and valid in time and scope and in all other respects.  The Parties agree that it is their intention that the Restrictive Covenants be enforced in accordance with their terms to the maximum extent permitted by law.  Each of the Restrictive Covenants shall be considered and construed as a separate and independent covenant.  Should any part or provision of any of the Restrictive Covenants be held invalid, void, or unenforceable, such invalidity, voidness, or unenforceability shall not render invalid, void, or unenforceable any other part or provision of the Restrictive Covenants.  If any portion of any of the Restrictive 

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Covenants is found to be invalid or unenforceable because its duration, geographic territory, scope of activities, or information covered is considered to be unreasonable in scope, the invalid or unenforceable term shall be redefined, or a new enforceable term provided, such that the intent of the Company and Executive in agreeing to the provisions of this Agreement will not be impaired and the provision in question shall be enforced to the fullest extent permitted by law.
8.    Injunctive Relief.  Executive acknowledges that his services to be rendered to the Company are of a special and unusual character which have a unique value to the Company, the loss of which cannot adequately be compensated by damages in an action at law. Executive further acknowledges that any breach of the terms of Section 7 would result in material damage to the Company, although it might be difficult to establish the monetary value of the damage. Executive therefore agrees that the Company, in addition to any other rights and remedies available to it, shall be entitled to seek an immediate injunction (whether temporary or permanent) from any court of appropriate jurisdiction in the event of any such breach thereof by Executive, or threatened breach which the Company in good faith believes will or is likely to result in irreparable harm to the Company. The existence of any claim or cause of action by Executive against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of Executive’s agreement under this Section and Section 7 above.
9.    Section 409A.
(a)    Meaning of Termination of Employment. Solely as necessary to comply with Section 409A of the Code (“Section 409A”), for purposes of Section 6, “termination of employment” or “employment termination” or similar terms shall have the same meaning as “separation from service” under Section 409A(a)(2)(A)(i) of the Code, and no payments shall be made under Section 6(c) or 6(d) unless a separation from service has occurred.
(b)    Installment Payments. For purposes of Section 6(c) or 6(d) with respect to amounts payable in the event of termination of Executive’s employment by the Company without Cause or by Executive for Good Reason, each such payment is a separate payment within the meaning of the final regulations under Section 409A.
(c)    Six-Month Delay. This Agreement will be construed and administered to preserve the exemption from Section 409A of payments that qualify as a short-term deferral or that qualify for the two-times separation pay exception. With respect to other amounts that are subject to Section 409A, it is intended, and this Agreement will be so construed, that any such amounts payable under this Agreement and the Company’s and Executive’s exercise of authority or discretion hereunder shall comply with the provisions of Section 409A and the treasury regulations relating thereto so as not to subject Executive to the payment of interest and additional tax that may be imposed under Section 409A. As a result, in the event Executive is a “specified employee” on the date of Executive’s termination of employment (with such status determined by the Company in accordance with rules established by the Company in writing in advance of the “specified employee identification date” that relates to the date of Executive’s termination of employment, or in the absence of such rules established by the Company, under 

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the default rules for identifying specified employees under Section 409A), then any payment that is subject to Section 409A and that is payable to Executive in connection with Executive’s separation from service shall not be paid until the first business day following the expiration of six months after the Termination Date (if Executive dies after the Termination Date but before any payment has been made, such remaining payments that were or could have been delayed will be paid to Executive’s estate without regard to such six-month delay).
10.    Section 280G Parachute Payments.  Notwithstanding any provision of this Agreement to the contrary, if any payment or benefit to be paid or provided hereunder would be a “Parachute Payment,” within the meaning of Section 280G of the Code, or any successor provision thereto, but for the application of this sentence, then the payments and benefits to be paid or provided hereunder shall be reduced to the minimum extent necessary (but in no event to less than zero) so that no portion of any such payment or benefit, as so reduced, constitutes a Parachute Payment; provided, however, that the foregoing reduction shall not be made if the total of the unreduced aggregate payments and benefits to be provided to Executive, determined on an after-tax basis (taking into account the excise tax imposed pursuant to Section 4999 of the Code, or any successor provision thereto, any tax imposed by any comparable provision of state law, and any applicable federal, state and local income taxes), exceeds by at least ten percent (10%) the total after-tax amount of such aggregate payments and benefits after application of the foregoing reduction. The determination of whether any reduction in such payments or benefits to be provided hereunder is required pursuant to the preceding sentence shall be made at the expense of the Company, if requested by Executive or the Company, by the Company’s independent accountants. The fact that Executive’s right to payments or benefits may be reduced by reason of the limitations contained in this Section shall not of itself limit or otherwise affect any other rights of Executive under this Agreement. In the event that any payment or benefit intended to be provided hereunder is required to be reduced pursuant to this Section and no such payment or benefit qualifies as a “deferral of compensation” within the meaning of and subject to Section 409A (“Nonqualified Deferred Compensation”), Executive shall be entitled to designate the payments and/or benefits to be so reduced in order to give effect to this Section. The Company shall provide Executive with all information reasonably requested by Executive to permit Executive to make such designation. In the event that any payment or benefit intended to be provided hereunder is required to be reduced pursuant to this Section and any such payment or benefit constitutes Nonqualified Deferred Compensation or Executive fails to elect an order in which payments or benefits will be reduced pursuant to this Section, then the reduction shall occur in the following order: (a) reduction of cash payments described in Sections 6(c) and 6(d) (with such reduction being applied to the payments in the reverse order in which they would otherwise be made, that is, later payments shall be reduced before earlier payments); (b) cancellation of acceleration of vesting on any equity awards for which the exercise price exceeds the then fair market value of the underlying equity; and (c) cancellation of acceleration of vesting of equity awards not covered under (c) above. Within any category of payments and benefits (that is, (a), (b) or (c)), a reduction shall occur first with respect to amounts that are not Nonqualified Deferred Compensation within the meaning of Section 409A and then with respect to amounts that are. In the event that acceleration of vesting of equity awards is to be cancelled, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of such equity awards, that is, later equity awards shall be canceled before earlier equity awards.

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11.    Clawback.  Any incentive based compensation, or any other compensation, paid or payable to Executive pursuant to this Agreement or any other agreement or arrangement with the Company, which is subject to recovery under any law, government regulation, order or stock exchange listing requirement, will be subject to such deductions and clawback (recovery) as may be required to be made pursuant to law, government regulation, order, stock exchange listing requirement (or any policy of the Company adopted pursuant to any such law, government regulation, order or stock exchange listing requirement). Executive specifically authorizes the Company to withhold from future wages any amounts that may become due under this provision; provided, however, nothing in this provision is intended to permit a change in the terms of payment of any deferred compensation subject to Section 409A in any manner that would violate or create a plan failure under Section 409A. This Section 11 shall survive the termination of this Agreement for a period of three (3) years.
12.    Arbitration.
(a)    Rules; Jurisdiction. Any controversy, dispute or claim between the parties, including any controversy, dispute or claim arising out of, relating to or concerning this Agreement, the breach of this Agreement, the employment of Executive, or the termination of Executive’s employment (a “Disputed Matter”) will be resolved pursuant to this Section 12. Any such controversy, dispute or claim will be settled in Atlanta, Georgia, in accordance with the applicable rules of the American Arbitration Association (the “AAA”) then in effect; provided, however, that a breach of the obligations under Section 7 may be enforced by an action for injunctive relief and damages in a court of competent jurisdiction. If the rules of the AAA differ from any provisions of this Agreement, the provisions of this Agreement will control.
(b)    Terms of Arbitration. The arbitrator chosen in accordance with these provisions shall not have the power to alter, amend or otherwise affect the terms of these arbitration provisions or the provisions of this Agreement except as otherwise expressly provided herein.
(c)    Binding Effect. The arbitrator will have the authority to grant only such equitable and legal remedies that would be available in any judicial proceeding instituted to resolve a Disputed Matter, and the decision of the arbitrator within the scope of the submission will be final and conclusive upon the parties. Judgment upon any award rendered by the arbitrator may be entered in any court having subject matter jurisdiction to render such judgment. In the event any provision of this Section 12 is found to be unenforceable for any reason by a court or an arbitrator, the court or arbitrator, as the case may be, shall reform this Section 12 to the extent necessary to render it enforceable.
(d)    Time for Arbitration. Any demand for arbitration involving an alleged breach of this Agreement shall be filed within one (1) year of the date the claim became known or should have become known; provided, however, any claim involving an alleged statutory obligation may be filed with the AAA and served on the other party at any time within the period covered by the applicable statute of limitations.
(e)    Payment of Costs. To the extent permitted by applicable law, each party hereby agrees to pay one half the arbitrator’s fees, the costs of transcripts and all other expenses of the 

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arbitration proceedings; provided, however, that the arbitrator shall have the authority to determine payment of costs as part of the award or to allocate costs in accordance with the AAA rules.
(f)    Burden of Proof; Basis of Decision. For any claim submitted to arbitration, the burden of proof shall be as it would be if the claim were litigated in a judicial proceeding except where otherwise specifically provided in this Agreement, and the decision shall be based on the application of the law of the State of Georgia (as determined from statutes, court decisions and other recognized authorities) to the facts found by the arbitrator.
13.    Miscellaneous.
(a)    Notice. Any notice or other communication required or permitted under this Agreement shall be effective only if it is in writing and shall be deemed to have been duly given when delivered in person or three business days after mailing if mailed first class by registered or certified mail, postage prepaid, or the next day if sent by overnight delivery, addressed as follows: 
		
	If to the Company:
	Aaron’s, Inc. 
309 E. Paces Ferry Road, N.E. 
Atlanta, Georgia 30305-2377 
Attention: Chairman of the Board

		
	If to Executive:
	John W. Robinson 
Address in the Company’s files

or to such other address as any party may designate by notice to the other.
(b)    Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to Executive’s employment by the Company, and supersedes and is in full substitution for any and all prior understandings or agreements with respect to Executive’s employment, including the Prior Employment Agreement and all other prior offer letters and/or employment agreements; provided, however, that the award agreements governing Executive’s outstanding equity awards shall remain in full force and effect and such awards shall continue to be governed by the terms thereof, subject to potential modification pursuant to Sections 6(c)(iv) and 6(d)(iv) hereof. The Prior Employment Agreement is hereby terminated by mutual agreement of the parties thereto and shall be of no further force and effect; provided, that (i) Executive shall be entitled to accrued amounts as may be due him pursuant to the terms of the Prior Employment Agreement through the Effective Date and (ii) for 2014, Executive’s bonus shall be determined based on the terms of the Prior Employment Agreement, as provided in Section 4(b) hereof. If Executive is entitled to severance benefits under Section 6 of this Agreement, Executive shall not be entitled to receive any benefits under any other severance plan, program or arrangement of the Company.
(c)    Amendment. This Agreement may be amended only by an instrument in writing signed by the parties hereto, and any provision hereof may be waived only by an instrument in 

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writing signed by the party or parties against whom or which enforcement of such waiver is sought. The failure of either party hereto to comply with any provision hereof shall in no way affect the full right to require such performance at any time thereafter, nor shall the waiver by either party hereto of a breach of any provision hereof be taken or held to be a waiver of any succeeding breach of such provision, or a waiver of the provision itself, or a waiver of any other provision of this Agreement.
(d)    Binding Effect. This Agreement is binding on and is for the benefit of the parties hereto and their respective successors, heirs, executors, administrators and other legal representatives. Neither this Agreement nor any right or obligation hereunder may be assigned by Executive or the Company, except for assignment by the Company to any wholly owned subsidiary.
(e)    Severability and Modification. If any provision of this Agreement or portion thereof is so broad, in scope or duration, so as to be unenforceable, such provision or portion thereof shall be interpreted to be only so broad as is enforceable. In addition, to the extent that any provision of this Agreement as applied to either party or to any circumstances shall be adjudged by a court of competent jurisdiction to be void or unenforceable, the same shall in no way affect any other provision of this Agreement or the validity or enforceability of this Agreement.
(f)    Interpretation. This Agreement shall be interpreted, construed and governed by and under the laws of the State of Georgia. If any provision of this Agreement is deemed or held to be illegal, invalid, or unenforceable under present or future laws effective during the term hereof, this Agreement shall be considered divisible and inoperative as to such provision to the extent it is deemed to be illegal, invalid or unenforceable, and in all other respects this Agreement shall remain in full force and effect; provided, however, that if any provision of this Agreement is deemed or held to be illegal, invalid or unenforceable there shall be added hereto automatically a provision as similar as possible to such illegal, invalid or unenforceable provision as shall be legal, valid or enforceable. Further, should any provision contained in this Agreement ever be reformed or rewritten by any judicial body of competent jurisdiction, such provision as so reformed or rewritten shall be binding upon Executive and the Company.
(g)    Failure to Enforce. The failure of either party hereto at any time, or for any period of time, to enforce any of the provisions of this Agreement shall not be construed as a waiver of such provision(s) or of the right of such party hereafter to enforce each and every such provision.
(h)    Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.
(i)    No Conflicting Agreement. Executive represents and warrants that he is not party to any agreement, contract or understanding which would prohibit him from entering into this Agreement or performing fully his obligations hereunder.
[Signature Page Follows]

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
 
AARON’S, INC.
By: /s/ Ray M. Robinson          
Name: Ray M. Robinson  
Title:  Chairman of the Board of Directors

PROGRESSIVE HOLDINGS, LLC
By: /s/ Robert W. Kamerschen 
Name: Robert W. Kamerschen
Title: Executive Vice President,          General Counsel & Corporate Secretary

EXECUTIVE
/s/ John W. Robinson                
John W. Robinson

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