Document:

EXHIBIT
10.59

 

[*] designates portions
of this document that have been omitted pursuant to a request for confidential
treatment filed separately with the Securities and Exchange Commission.

 

FIRST
AMENDMENT TO PROGRAM AGREEMENT

 

This FIRST AMENDMENT (“First
Amendment”) to the September 19th, 2007, Program Agreement (the “Agreement”)
by and between Republic Bank & Trust Company (“Republic”), a Kentucky
banking corporation, and Jackson Hewitt Inc. (“JHI”), a Virginia corporation,
is effective as of the 2nd day of December, 2008 (the “Effective Date”).

 

RECITALS

 

WHEREAS, Republic and JHI
entered into the Agreement on September 19, 2007.

 

WHEREAS, Republic and JHI
desire to Amend certain terms of the Agreement.

 

NOW, THEREFORE, in
consideration of the mutual promises, covenants and agreements set forth below
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, Republic and JHI do hereby agree to amend the Agreement
as follows:

 

AMENDMENTS

 

1.             Section 2.2 (b) shall
be modified to read as follows:

 

(b)           For Tax Season 2009, JHI shall designate Republic as the sole and
exclusive Financial Product provider under the Program for the Designated ERO
Locations (or equivalent locations); provided, however, that JHI may, with
Republic’s mutual understanding and agreement, also designate Republic as the
sole and exclusive Financial Product provider under the Program for EROs [*] the “Additional 2009 Designations”
and,  collectively with the Designated
ERO Locations (or equivalent locations), the “2009 Designated ERO Locations”).  [*]

 

2.             Section 4 (b) shall
be modified to read as follows:

 

(b)           For the 2009 Tax Season, Republic shall pay to JHI [*]

 

3.             The following
language shall be added to Section 6 and shall read as follows:

 

[*]

 

6.11         Compliance Rating.  JHI shall
achieve a Satisfactory Compliance Rating, which will be determined by Republic
no later than May 31st of each year.  A Satisfactory Compliance Rating shall
consist of the following:  (i) a
score of no less than [*] on
the Compliance audit which includes, but is not limited to, Application
retention, signed and completed Applications, and signed and completed
Truth-in-Lending Act Disclosures, (ii) conducting compliance training,
approved by Republic, and verifying to Republic that said training was
completed and passed by all Designated ERO Locations’ employees, (iii) maintaining
adequate electronic and physical security, as set forth in the Program
Guidelines (as described in the Program Agreement) and as determined by the
Compliance audit, and (iv) providing accurate reports and information, in
a timely manner, including but not limited to, identifying tax preparers in all
ERO locations who have passed the required compliance training, reports of all
Customers who have been denied a Financial Product based on Application
screening, and information on all Joint Applications on which a Spouse has
chosen to opt-out of the RAL, Money Now Loan, or AR / BL (“Loan Product”),
including which Loan Product was opted-out of and the name of the opting-out
Spouse.

 

1

 

[*] designates portions
of this document that have been omitted pursuant to a request for confidential
treatment filed separately with the Securities and Exchange Commission.

 

4.             Section 9.4 (i) shall be modified
to read as follows:

 

[*]

 

5.             The parties agree to
negotiate in good faith to modify all necessary provisions under this Agreement
for the 2010 Tax Season, no later than [*].

 

6.             Republic and JHI
enter into this First Amendment only for the purposes stated herein.  Unless otherwise amended herein, all other
terms and conditions of the Agreement remain unchanged and in full force and
effect.

 

IN WITNESS WHEREOF, this
First Amendment has been executed and delivered by a duly authorized officer of
each party as of the date set forth above.

 

 

	
  REPUBLIC BANK & TRUST
  COMPANY

  	
   

  	
  JACKSON HEWITT INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ William Nelson

  	
   

  	
  By: 

  	
  /s/ Daniel P. O’Brien

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  William Nelson

  	
   

  	
  Name: Daniel P. O’Brien

  
	
   

  	
  Managing Director

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Title: EVP &
  CFO

  

 

2EXHIBIT
10.60

 

[*] designates portions
of this document that have been omitted pursuant to a request for confidential
treatment filed separately with the Securities and Exchange Commission.

 

FIRST
AMENDMENT TO TECHNOLOGY SERVICES AGREEMENT

 

This FIRST AMENDMENT (“First
Amendment”) to the September 19th, 2007, Technology Services Agreement
(the “Agreement”) by and between Republic Bank & Trust Company (“Republic”),
a Kentucky banking corporation, and Jackson Hewitt Technology Services LLC (“JHTSL”),
a Delaware limited liability company, is effective as of the 2nd day of
December, 2008 (the “Effective Date”).

 

RECITALS

 

WHEREAS, Republic and
JHTSL entered into the Agreement on September 19, 2007.

 

WHEREAS, Republic and
JHTSL desire to Amend certain terms of the Agreement.

 

NOW, THEREFORE, in
consideration of the mutual promises, covenants and agreements set forth below
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, Republic and JHTSL do hereby agree to amend the
Agreement as follows:

 

AMENDMENTS

 

1.             The definition of “Resource
Rate” in Section 1.1 (g) (ii) shall be modified to read as
follows:

 

(g)           [*]

 

2.             Section 1.5 (b) shall be modified
to read as follows:

 

(b)           For the 2009
Tax Season, Republic shall pay to JHTSL [*].

 

3.             Schedule A of the
Agreement shall be nullified and replaced with Schedule A, attached hereto.

 

4.             The parties agree to
negotiate in good faith to modify all necessary provisions under this Agreement
for the 2010 Tax Season, no later than [*].

 

5.             Republic and JHTSL
enter into this First Amendment only for the purposes stated herein.  Unless otherwise amended herein, all other
terms and conditions of the Agreement remain unchanged and in full force and
effect.

 

IN WITNESS WHEREOF, this
First Amendment has been executed and delivered by a duly authorized officer of
each party as of the date set forth above.

 

	
  REPUBLIC BANK & TRUST
  COMPANY

  	
   

  	
  JACKSON HEWITT TECHNOLOGY
  SERVICES LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ William Nelson

  	
   

  	
  By:

  	
  /s/ Daniel P. O’Brien

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  William Nelson

  	
   

  	
  Name: Daniel P. O’Brien

  
	
   

  	
  Managing Director

  	
   

  	
   

  
	
   

  	
   

  	
  Title: EVP &
  CFO

  

 

1

 

Schedule A

(FEE TABLE)

 

[*] designates portions
of this document that have been omitted pursuant to a request for confidential
treatment filed separately with the Securities and Exchange Commission.

 

[*]

 

2EXHIBIT
10.61

 

Amendment
No. 1

to the

Republic
Bancorp, Inc. 2005 Stock Incentive Plan

 

This is Amendment No. 1
to the Republic Bancorp, Inc. 2005 Stock Incentive Plan (the “Plan”) made
effective as of November 19, 2008 by Republic Bancorp, Inc. (the “Company”).

 

Recitals

 

A.            The Company maintains
the Plan and has reserved the right to amend it from time to time.

 

B.            The Company wishes to
amend and conform the written terms of the Plan to the requirements of Section 409A
of the Internal Revenue Code of 1986 and eliminate a restriction of transfer of
the stock acquired under Awards.

 

                NOW THEREFORE, the
Republic Bancorp, Inc. 2005 Stock Incentive Plan is hereby amended as
follows:

 

1.             Section 2.13 is
amended to read as follows:

 

2.13         “Fair Market Value” shall mean as of any date, the
value of a share of Stock determined as follows:

 

(a)           If the Stock is listed
on any established stock exchange or a national market system, including,
without limitation, The NASDAQ Stock Exchange, its Fair Market Value shall be the
closing market price of the Stock as reported on the date of determination, or,
if no trades were reported on that date, the closing price on the most recent
trading day immediately preceding the date of the determination, as quoted on
such system or exchange, or the exchange with the greatest volume of trading in
Stock for the last market trading day prior to the time of determination, as
reported in The Wall Street Journal or such other source as the Committee deems
reliable;

 

(b)           If the Stock is quoted
on The NASDAQ Stock Exchange or regularly quoted by a recognized securities
dealer but selling prices are not reported, its Fair Market Value shall be the
mean between the high bid and low asked prices for the Stock for the last
market trading day prior to the time of determination, as reported in The Wall
Street Journal or such other source as the Committee deems reliable; or

 

(c)            In the absence of such
markets for the Stock, the Fair Market Value shall be determined in good faith
by the Committee, by reasonable application of a reasonable valuation method,
considering any and all information the Committee determines relevant,
consistent with Code Section 409A and Treasury Regulations thereunder.

 

2.             Section 9.2 is
amended to read as follows:

 

CONDITIONS ON
AWARDS.  In granting an Award, the
Committee may establish any conditions that it determines are consistent with
the purposes and provisions of the Plan, including, without limitation, a
condition that the granting of an Award is subject to the surrender or
cancellation of any or all outstanding Awards held by the Participant, provided
that any surrender shall be considered a substitution under Code Section 409A
and provisions can be different only to the extent that the original Award
could have been amended to include such provision.  Subject to the foregoing, any new Award made
under this Section may contain such terms and conditions as the Committee
may determine.

 

3.             Section 10.10 is
amended to read as follows:

 

RESTRICTION ON TRANSFER
OF SHARES ACQUIRED FROM AN AWARD.  No
Participant shall sell, assign, transfer or otherwise dispose of any Stock
acquired by exercise of an Option or via a Stock Award (“Award Stock”) (a) for
at least 12 months following the exercise of the Option (except in the case of
Participant’s death or Disability if such event occurs sooner), (b) before
12 months following the lapse of all restrictions on a Stock Award, and (c) thereafter,
in accordance with this Section 10.10. Notwithstanding the 

 

1

 

preceding
sentence,  the restrictions described
therein will not apply to 50% of each Participant’s Award Stock acquired by
exercise of an Option or via a Stock Award granted after the date of this
Amendment.  With respect to all Award Stock
hereunder, whether it relates to an Award made before or after this Amendment,
the Participant shall provide the Company in writing a notice (the “Transfer
Notice”) in advance of any proposed transfer of the Award Stock, setting forth
Participant’s intent to transfer some portion, or all, of Participant’s Award
Stock (the “Offered Shares”).  The
Transfer Notice shall constitute an irrevocable offer to sell any or all of the
Offered Shares to the Company.  If the
Company does not accept such offer (or to the extent not accepted) and agree to
buy some or all of the Offered Shares within 10 days after receipt of the
Transfer Notice (the “Offer Date”), the Participant may at any time thereafter
transfer the Offered Shares to any person or on the market on which the shares
are then trading.  The Company shall make
payment in cash for any Offered Shares that it purchases pursuant to this Section 10.10
within 10 days after the date when the Company delivers notice of its
acceptance of the offer (the “Purchase Date”) at a price per share equal to the
greater of the Fair Market Value of the Offered Shares (i) on the Purchase
Date or (ii) on the Offer Date (the “Purchase Price”).  The
Participant or personal representative of the Participant shall surrender
certificates representing the offered Award Stock at the time the Company makes
such payment.  The right of first refusal
imposed by this Section 10.10 shall not apply to the transfer by operation
of law to a deceased Participant’s personal representative or to persons who
acquire the Award Stock by bequest or inheritance (the “Heir”), but shall apply
to the Award Stock further transferred by that personal representative or
Heir.  All Award Stock issued upon
exercise or grant of an Award hereunder shall bear a legend notifying the
holder thereof of the restrictions of this Section 10.10, which restrictions
shall be removed upon the Participant’s compliance with the terms of this right
of first refusal.

 

IN WITNESS WHEREOF, a
duly authorized officer of the Company has executed this Amendment to the
Republic Bancorp, Inc. 2005 Stock Incentive Plan on behalf of the Company, as
of the date set forth below.

 

	
   

  	
  REPUBLIC BANCORP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael Ringswald

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Michael Ringswald

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  November 19, 2008

  
				

 

 

	
   

  	
  Board Approval:

  	
   

  	
  Nov. 19, 2008

  	
   

  	
  /s/ MAR [secretary to
  initial]

  	
   

  

 

2

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