Document:

EX-10.1

FIRST AMENDMENT TO PROMISSORY NOTE

This First Amendment to Promissory Note (the “Amendment”) is made as of March 20,
2008, between BROOKE CAPITAL CORPORATION, a Kansas corporation (the “Borrower”), and
CITIZENS BANK AND TRUST COMPANY, a Missouri banking corporation (the “Bank”).

Preliminary Statements

(a) The Borrower is indebted to the Bank pursuant to a Promissory Note, dated December 31,
2007, from the Borrower, as maker, to the Bank, as payee, in the stated principal amount of
$9,000,000 (the “Note”). Capitalized terms used and not defined in this Amendment have the
meanings given to them in the Note.

(b) The Borrower has requested that the Bank amend certain covenants and other provisions
contained in the Note.

(c) The Bank is willing to agree to the foregoing request by the Borrower, subject, however,
to the terms, conditions and agreements set forth in this Amendment.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:

1. Final Balloon Payment. Section 1(b) of the Note is amended to read as follow:

(b) Final Balloon Payment. On May 30, 2008, the entire
outstanding principal balance of this Note, all accrued but unpaid
interest thereon and any other amounts owing under this Note will be
immediately due and payable in their entirety.

2. Interest Rate. Section 2 of the Note is amended to read as follows:

2. Interest Rate. Interest will accrue on the
outstanding principal balance of this Note, from and after the First
Amendment Date until the occurrence of an Event of Default, at an
annual rate equal to the Prime Rate in effect from time to time plus
three percent (3%). The “Prime Rate” means the prime rate as
published from time to time in the “Money Rates” section of The Wall
Street Journal or in such other reputable financial news service
(electronic or otherwise) utilized by the Bank from time to time.
The Prime Rate may fluctuate as frequently as daily, and shall
change on the day any change in the prime rate occurs. This rate is
only a reference rate and may not be the lowest rate offered by the
Bank. Interest will be calculated based upon the actual number of
days elapsed over a year of 360 days. If interest is not paid when
due, such interest shall be treated as principal outstanding under
this Note and interest shall accrue thereon as provided herein.

DB04/500047.0036/341558.3/

3. Events of Default.

(a) Key-Person Default. Clause (f) of Section 5 of the Note is amended to read
as follows:

(f) Robert Orr, Michael Hess, Leland Orr, Carl Baranowski,
Kyle Garst or Dane Devlin dies, is judicially declared
incompetent or fails to perform fully those duties being
performed by him or her for the benefit of the Borrower or
the Parent on December 31, 2007;

(b) Brook Credit Stock Price. Clause (k) of Section 5 of the Note is amended
to read as follows:

(k) the value of the common stock of Brooke Credit
Corporation falls below $2.00 per share; or

4. December 31, 2007 Financial Statements. Section 9(e) of the Note is amended to read as
follows:

(e) Financial Statements. All financial statements of
the Borrower and the Parent which have been furnished to the Bank
fairly present the financial condition of the Borrower and the
Parent, as the case may be, as of the dates reflected on the
financial statements, and fairly present the results of their
respective operations for the period covered thereby, all in
accordance with GAAP. As of the First Amendment Date, there has
been no material adverse change in the financial condition or
results from operations, as the case may be, of the Borrower or the
Parent since the December 31, 2007 financial statements of each of
the Borrower and the Parent (as set forth in the Parent’s Form 10-K
filing on March 17, 2008 with the Securities and Exchange
Commission).

5. Tangible Net Worth Covenant Deleted. Section 10(a) of the Note is amended to read as
follows:

(a) [intentionally omitted]

6. Quarterly Financials and Other Information. Section 18 of the Note is amended to read as
follows:

18. Quarterly Financials and Other Information. The
Borrower agrees to provide to the Bank – (a) by March 17, 2008, with
respect to the quarter and year ending December 31, 2007, and (b) by
May 15, 2008, with respect to the quarter ending March 31, 2008 –
financial statements of the Borrower and the Parent for such fiscal
year/quarter, in each case prepared in accordance with GAAP and
certified by the chief financial officer of the Borrower and the
Parent as true and correct. The Borrower also agrees to provide to
the Bank such other financial and operational information regarding
the Borrower and the Parent as the Bank may reasonably request from
time to time.

7. New Defined Terms. A new Section 23 is added to the Note which reads as follows:

23. Definitions. For purposes of this Note, the
following terms have the following meanings:

"First Amendment” means the First Amendment to
Promissory Note, dated as of March 20, 2008, between the
Borrower and the Bank.

"First Amendment Date” means the date of the
First Amendment.

8. Amendment Fee. The Borrower agrees to pay to the Bank on the date hereof a fee equal to
$10,000, which shall be deemed fully earned and non-refundable on the date hereof.

9. No Other Amendments; No Waiver. Except as amended hereby, the Note and the other Credit
Documents shall remain in full force and effect and be binding on the parties thereto in accordance
with their respective terms. Nothing in this Amendment shall constitute a waiver by the Bank of
any Default or Event of Default which may exist on the date hereof, and nothing herein shall
require the Bank to waive any Default or Event of Default which may arise hereafter. Nothing
herein shall act to release any lien on any Collateral or limit the scope or amount of the
obligations secured thereby.

10. Reaffirmation of Credit Documents. The Borrower reaffirms its obligations under the Note,
as amended hereby, and the other Credit Documents to which it is a party or by which it is bound,
and represents, warrants and covenants to the Bank, as a material inducement to the Bank to enter
into this Amendment, that: (a) the Borrower has no and in any event waives any defense, claim or
right of setoff with respect to its obligations under, or in any other way relating to, the Note,
as amended hereby, or any of the other Credit Documents to which it is a party, or the Bank’s
actions or inactions in respect of any of the foregoing, and (b) except as otherwise expressly
provided in this Amendment, all representations and warranties made by the Borrower in the Note or
the other Credit Documents to which it is a party are true and complete on the date hereof as if
made on the date hereof.

11. Representations and Warranties. The Borrower represents and warrants to the Bank as
follows: (a) it is a validly existing Kansas corporation and has full corporate power and
authority to enter into this Amendment and any documents or transactions contemplated hereby and to
pay and perform any obligations it may have in respect of the foregoing; (b) its execution,
delivery and performance of this Amendment and any documents or transactions contemplated hereby do
not violate or conflict with, or require any consent under, (1) its organizational documents or any
other agreement or document relating to its formation, existence or authority to act, (2) any
agreement or instrument by which it or any its properties is bound, (3) any court order, judicial
proceeding or any administrative or arbitral order or decree, or (4) any applicable law, rule or
regulation; and (c) no authorization, approval or consent of or by, and no notice to or filing or
registration with, any governmental authority or any other person or entity is necessary for it to
enter into this Amendment or any document or transaction contemplated hereby or to perform any of
its obligations with respect to any of the foregoing.

12. Conditions Precedent to Amendment. Unless and to the extent the Bank waives the benefits
of this sentence by giving written notice thereof to the Borrower, the Bank shall have no duties
under this Amendment, nor shall any extensions, waivers or other concessions by the Bank under this
Amendment be effective, in each case until the Bank has received fully executed originals of each
of the following, each in form and substance satisfactory to the Bank:

	 	(a)	 	Note Amendment. This Amendment, including the Consent
of Pledgor attached hereto;

	 	(b)	 	Pledge Agreement Amendment. The First Amendment to
Pledge Agreement, dated on or about the date hereof, between the Parent and the
Bank; and

	 	(c)	 	Other. Such other documents, consents, agreements or
other items as the Bank may reasonably request.

13. Expenses. The Borrower shall pay the out-of-pocket legal fees and expenses incurred by
the Bank in connection with the preparation and closing of this Amendment and any other documents
referred to herein and the consummation of any transactions referred to herein or therein.

14. Governing Law. This Amendment shall be governed by the same law that governs the Note.

15. Counterparts; Fax Signatures. This Amendment may be executed in one or more counterparts
and by different parties thereto, all of which counterparts, when taken together, shall constitute
but one agreement. This Amendment may be validly executed and delivered by facsimile or other
electronic means and any such execution or delivery shall be fully effective as if executed and
delivered in person.

[signature page(s) to follow]

1

IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

BROOKE CAPITAL CORPORATION

By:     

Kyle L. Garst, President & CEO

CITIZENS BANK AND TRUST COMPANY

By:     

Name: Title:

2

Consent of Pledgor

Reference is made to the Pledge Agreement, dated December 31, 2007, between Brooke Corporation
(the “Parent”), as pledgor, and Citizens Bank and Trust Company, as pledgee (the
"Pledge Agreement”). Capitalized terms used and not defined in this Consent of Pledgor
shall have the meanings given to them in the above First Amendment to Promissory Note (the
"Amendment”). To induce the Bank to enter into the Amendment, the Parent (a) consents to
the Bank and the Borrower entering into the Amendment, (b) agrees that the execution, delivery and
performance of the Amendment shall not (i) impair the creation, attachment, perfection, priority or
any other aspect of the security interest granted by the Parent to the Bank in the Pledged
Collateral referred to in the Pledge Agreement, or (ii) otherwise discharge, limit or impair the
obligations of the Pledgor under the Pledge Agreement or the other Credit Documents, (c) agrees
that the Pledge Agreement is and remains in full force and effect and is enforceable against the
Parent in accordance with its terms, (d) waives any defense, claim or right of setoff the Parent
may have in respect of the Pledge Agreement, the Note, any other Credit Document, or the Bank’s
actions or inactions in respect of any of the foregoing, (e) waives any suretyship or similar
defense it may have at any time with respect to the Obligations referred to in the Pledge Agreement
or with respect to the Credit Documents or the actions or inactions of the Borrower, the Bank or
any other person from time to time, and (f) agrees that the Bank has no duty to give the Parent
notice of or obtain the Parent’s consent to the transactions described in the Amendment, and that
the giving of notice to the Parent and the obtainment of its consent in this instance shall not
impose any similar or other duty upon the Bank in any future matter or transaction. This Consent
of Pledgor may be validly executed and delivered by fax or other electronic means. This Consent of
Pledgor shall be governed by the same law that governs the Pledge Agreement.

BROOKE CORPORATION

By:     

Robert D. Orr, Chairman

3EX-10.2

FIRST AMENDMENT TO PLEDGE AGREEMENT

This First Amendment to Pledge Agreement (the “Amendment”) is made as of March 20,
2008, between BROOKE CORPORATION, a Kansas corporation (the “Parent”), and CITIZENS BANK
AND TRUST COMPANY, a Missouri banking corporation (the “Bank”).

Preliminary Statements

(a) The Parent and the Bank have entered into a Pledge Agreement dated as of December 31, 2007
(the “Pledge Agreement”). Capitalized terms used and not defined in this Amendment have
the meanings given to them in the Pledge Agreement.

(b) The Borrower has requested that the Bank enter into a First Amendment to Promissory Note,
dated on or about the date hereof, whereby certain covenants and other provisions contained in the
Note are amended.

(c) The Bank is willing to agree to the foregoing request by the Borrower, subject, however,
to the terms, conditions and agreements set forth in this Amendment.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:

1. Representations and Warranties. Sections 5(f) and 5(g) of the Pledge Agreement are amended
to read as follow:

(f) The Pledged Shares consisting of common stock of the
Borrower constituted, as of the First Amendment Date, 81% of the
issued and outstanding shares of common stock of the Borrower on a
fully diluted basis.

(g) The Pledged Shares consisting of common stock of Brooke
Credit constituted, as of the First Amendment Date, not less than
26% of the issued and outstanding shares of common stock of Brooke
Credit on a fully diluted basis.

2. Events of Default.

(a) Key-Person Default. Clause (f) of Section 8 of the Pledge Agreement is
amended to read as follows:

(f) Robert Orr, Michael Hess, Leland Orr, Carl Baranowski,
Kyle Garst or Dane Devlin dies, is judicially declared
incompetent or fails to perform fully those duties being
performed by him or her for the benefit of the Borrower or
the Parent on December 31, 2007;

DB04/500047.0036/341837.4/

(b) Brook Credit Stock Price. Clause (k) of Section 8 of the Pledge
Agreement is amended to read as follows:

(k) the value of the common stock of Brooke Credit
Corporation falls below $2.00 per share; or

3. Release of Lock-Up Restrictions. On or before April 30, 2008, the Parent shall deliver
evidence reasonably satisfactory to the Bank that Brooke Credit Corporation has irrevocably and
unconditionally waived any and all lock-up or other transfer restrictions relating to any sale,
pledge or other disposition of any Pledged Collateral consisting of shares of common stock of
Brooke Credit Corporation (the “Pledged Brooke Credit Shares”), including, without
limitation, any such transfer restrictions arising under the Lock-Up Agreement, dated July 18,
2007, between Oakmont Acquisition Corp. (now known as Brooke Credit Corporation) and the Parent.
Such waiver shall apply to the Pledged Brooke Credit Shares without regard to who holds all or any
part of the Pledged Brooke Credit Shares from time to time.

4. New Defined Terms. A new Section 24 is added to the Pledge Agreement which reads as
follows:

24. Definitions. For purposes of this Agreement, the
following terms have the following meanings:

"Credit Documents” has the meaning given to
such term in the Note and shall include any agreement or
document signed or delivered by the Parent at any time in
connection with this Agreement, as amended or otherwise
modified from time, or any of the transactions or documents
described herein or contemplated hereby.

"First Amendment” means the First Amendment to
Pledge Agreement, dated as of March 20, 2008, between the
Parent and the Bank.

"First Amendment Date” means the date of the
First Amendment.

5. No Other Amendments; No Waiver. Except as amended hereby, the Pledge Agreement and the
other Credit Documents shall remain in full force and effect and be binding on the parties thereto
in accordance with their respective terms. Nothing in this Amendment shall constitute a waiver by
the Bank of any Default or Event of Default which may exist on the date hereof, and nothing herein
shall require the Bank to waive any Default or Event of Default which may arise hereafter. Nothing
herein shall act to release any lien on any Pledged Collateral or limit the scope or amount of the
Pledged Obligations.

6. Reaffirmation of Credit Documents. The Parent reaffirms its obligations under the Pledge
Agreement, as amended hereby, and the other Credit Documents to which it is a party or by which it
is bound, and represents, warrants and covenants to the Bank, as a material inducement to the Bank
to enter into this Amendment, that: (a) the Parent has no and in any event waives any defense,
claim or right of setoff with respect to its obligations under, or in any other way relating to,
the Pledge Agreement, as amended hereby, or any of the other Credit Documents to which it is a
party, or the Bank’s actions or inactions in respect of any of the foregoing, and (b) except as
otherwise expressly provided in this Amendment, all representations and warranties made by the
Parent in the Pledge Agreement or the other Credit Documents to which it is a party are true and
complete on the date hereof as if made on the date hereof.

7. Representations and Warranties. The Parent represents and warrants to the Bank as follows:
(a) it is a validly existing Kansas corporation and has full corporate power and authority to
enter into this Amendment and any documents or transactions contemplated hereby and to pay and
perform any obligations it may have in respect of the foregoing; (b) its execution, delivery and
performance of this Amendment and any documents or transactions contemplated hereby do not violate
or conflict with, or require any consent under, (1) its organizational documents or any other
agreement or document relating to its formation, existence or authority to act, (2) any agreement
or instrument by which it or any its properties is bound, (3) any court order, judicial proceeding
or any administrative or arbitral order or decree, or (4) any applicable law, rule or regulation;
and (c) no authorization, approval or consent of or by, and no notice to or filing or registration
with, any governmental authority or any other person or entity is necessary for it to enter into
this Amendment or any document or transaction contemplated hereby or to perform any of its
obligations with respect to any of the foregoing.

8. Expenses. The Parent shall pay, or shall cause the Borrower to pay, the out-of-pocket
legal fees and expenses incurred by the Bank in connection with the preparation and closing of this
Amendment and any other documents referred to herein and the consummation of any transactions
referred to herein or therein.

9. Governing Law. This Amendment shall be governed by the same law that governs the Pledge
Agreement.

10. Counterparts; Fax Signatures. This Amendment may be executed in one or more counterparts
and by different parties thereto, all of which counterparts, when taken together, shall constitute
but one agreement. This Amendment may be validly executed and delivered by facsimile or other
electronic means and any such execution or delivery shall be fully effective as if executed and
delivered in person.

[signature page(s) to follow]

1

IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

BROOKE CORPORATION

By:     

Robert D. Orr, Chairman

CITIZENS BANK AND TRUST COMPANY

By:     

Name: Title:

2

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