Document:

Exhibit

LIMITED LIABILITY
COMPANY AGREEMENT
FOR
STAR PROCUREMENT, LLC

THE MEMBERSHIP INTERESTS ISSUED PURSUANT TO THIS LIMITED LIABILITY COMPANY AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS.  SUCH MEMBERSHIP INTEREST MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR OTHERWISE DISPOSED OF AT ANY TIME WITHOUT EFFECTIVE REGISTRATION UNDER THE 1933 ACT AND OTHER APPLICABLE LAW OR EXEMPTION THEREFROM, AND COMPLIANCE WITH THE OTHER RESTRICTIONS ON TRANSFERABILITY SET FORTH HEREIN.  CERTAIN OF THE MEMBERSHIP INTERESTS REPRESENTED BY THIS LIMITED LIABILITY COMPANY AGREEMENT ARE SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFERABILITY SET FORTH IN THIS AGREEMENT.

4912888-1

Table of Contents

Page

	
						
	ARTICLE I
	DEFINITIONS
	1
	

	 
	Section 1.1
	 
	Certain Definitions
	1
	

	 
	 
	 
	 
	 

	ARTICLE II
	 
	ORGANIZATIONAL MATTERS
	10
	

	 
	Section 2.1
	 
	Legal Status
	10
	

	 
	Section 2.2
	 
	Name
	10
	

	 
	Section 2.3
	 
	Purpose
	10
	

	 
	Section 2.4
	 
	Term
	11
	

	 
	 
	 
	 
	 

	ARTICLE III
	MEMBERS AND MEMBERSHIP INTERESTS
	11
	

	 
	Section 3.1
	 
	Holders
	11
	

	 
	Section 3.2
	 
	Confidentiality
	11
	

	 
	Section 3.3
	 
	Certification
	12
	

	 
	 
	 
	 
	 

	ARTICLE IV
	CONTRIBUTIONS AND CAPITAL ACCOUNTS
	12
	

	 
	Section 4.1
	 
	Capital Contributions
	12
	

	 
	Section 4.2
	 
	Loans
	12
	

	 
	Section 4.3
	 
	Return of Capital Contributions; Interest
	12
	

	 
	Section 4.4
	 
	Capital Accounts
	12
	

	 
	Section 4.5
	 
	Limitation on Liability
	13
	

	 
	 
	 
	 
	 

	ARTICLE V
	 
	DISTRIBUTIONS
	13
	

	 
	Section 5.1
	 
	General
	13
	

	 
	Section 5.2
	 
	In-Kind Distributions
	13
	

	 
	Section 5.3
	 
	Tax Distributions
	13
	

	 
	 
	 
	 
	 

	ARTICLE VI
	 
	ALLOCATIONS
	14
	

	 
	Section 6.1
	 
	Allocations of Profit or Loss
	14
	

	 
	Section 6.2
	 
	Special Allocations
	14
	

	 
	Section 6.3
	 
	Curative Allocations
	16
	

	 
	Section 6.4
	 
	Section 704(c) and Capital Account Revaluation Allocations
	16
	

	 
	Section 6.5
	 
	Additional Allocation Rules
	17
	

	 
	Section 6.6
	 
	Tax Filings, Elections and Cooperation
	17
	

	 
	Section 6.7
	 
	Partnership Representative
	19
	

	 
	Section 6.8
	 
	Survival
	20
	

	 
	 
	 
	 
	 

	ARTICLE VII
	 
	MANAGEMENT
	21
	

	 
	Section 7.1
	 
	Management of the Company
	21
	

	 
	Section 7.2
	 
	Resignation
	22
	

	 
	Section 7.3
	 
	Vacancies
	22
	

	 
	Section 7.4
	 
	Action by the Board
	22
	

	 
	Section 7.5
	 
	Action by the Members
	22
	

- i 

Table of Contents
(continued)
Page

	
						
	 
	Section 7.6
	 
	Officers
	23
	

	 
	Section 7.7
	 
	Limitation on Authority of Members
	25
	

	 
	 
	 
	 
	 

	ARTICLE VIII
	 
	EXCULPATION AND INDEMNIFICATION
	25
	

	 
	Section 8.1
	 
	Exculpation
	25
	

	 
	Section 8.2
	 
	Indemnification
	26
	

	 
	 
	 
	 
	 

	ARTICLE IX
	 
	BOOKS AND RECORDS
	27
	

	 
	Section 9.1
	 
	Books and Records
	27
	

	 
	Section 9.2
	 
	Bank Accounts
	28
	

	 
	 
	 
	 
	 

	ARTICLE X
	 
	TRANSFERS
	28
	

	 
	Section 10.1
	 
	Restrictions on Transfers
	28
	

	 
	Section 10.2
	 
	Other Transfer Conditions, Restrictions and Requirements
	28
	

	 
	Section 10.3
	 
	Termination of Status
	28
	

	 
	 
	 
	 
	 

	ARTICLE XI
	 
	WITHDRAWAL AND DISSOLUTION
	29
	

	 
	Section 11.1
	 
	Withdrawal
	29
	

	 
	Section 11.2
	 
	Events of Dissolution
	29
	

	 
	Section 11.3
	 
	Liquidating Distributions
	29
	

	 
	Section 11.4
	 
	Conduct of Winding-Up
	29
	

	 
	Section 11.5
	 
	Deficit Capital Accounts
	29
	

	 
	 
	 
	 
	 

	ARTICLE XII
	 
	REPRESENTATIONS, WARRANTIES,  AGREEMENTS AND OTHER MATTERS
	30
	

	 
	Section 12.1
	 
	Holder Representations
	30
	

	 
	 
	 
	 
	 

	ARTICLE XIII
	 
	MISCELLANEOUS
	31
	

	 
	Section 13.1
	 
	Counsel Clause
	31
	

	 
	Section 13.2
	 
	Amendment of Agreement
	31
	

	 
	Section 13.3
	 
	Remedies
	31
	

	 
	Section 13.4
	 
	Waiver
	31
	

	 
	Section 13.5
	 
	Notices
	32
	

	 
	Section 13.6
	 
	Entire Agreement
	32
	

	 
	Section 13.7
	 
	Binding Effect; Benefits
	32
	

	 
	Section 13.8
	 
	Severability
	32
	

	 
	Section 13.9
	 
	Headings
	32
	

	 
	Section 13.10
	 
	No Strict Construction
	32
	

	 
	Section 13.11
	 
	Interpretation
	32
	

	 
	Section 13.12
	 
	Counterparts
	33
	

	 
	Section 13.13
	 
	Governing Law
	33
	

	 
	Section 13.14
	 
	Jurisdiction and Venue
	33
	

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This LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) for STAR PROCUREMENT, LLC, a Delaware limited liability company (the “Company”), dated as of December __, 2018, is by and among the Persons listed on Exhibit A.
RECITALS
WHEREAS,
A.    The Company was formed as a Delaware limited liability company on December 14, 2018, by the filing of the Certificate of Formation with the Secretary of State of the State of Delaware.
B.    The Members desire to enter into this Agreement on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
ARTICLE I
DEFINITIONS
Section 1.1    Certain Definitions.  For purposes of this Agreement, the following terms shall have the meanings set forth below:
“1933 Act” means the Securities Act of 1933, as amended.
“Affiliate” means, with respect to any Person, any other Person Controlling, Controlled by or under common Control with such Person and any equity owner (including, but not limited to, any partner, member, or a shareholder) of such Person.
“Agreement” has the meaning given to such term in the introductory paragraph.
“ATRM Manager” means the Manager appointed by ATRM Holdings, Inc. and identified on Exhibit B.
“Available Cash” means all cash funds (and any other property treated as cash in accordance with Section 5.2) of the Company on hand from time to time after payment or provision for (a) all operating and other expenses of the Company as of such time, (b) all outstanding and unpaid current obligations of the Company as of such time, and (c) as determined by the Board in its sole discretion from time to time, any working capital, expense, capital expenditure or other reserve. 
“Board” has the meaning set forth in Section 7.1(b).

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“Business” means the purchasing and sale of building materials and related goods and entry into the Services Agreement attached hereto as Exhibit C.
“Business Day” means any day except a Saturday, Sunday or other day on which commercial banks in New York City are authorized by law to close.
“Capital Account” means the individual accounts established and maintained pursuant to Section 4.4.
“Capital Contribution” means, with respect to any Holder, the aggregate amount of cash and the initial Gross Asset Value of any other property contributed (or required to be contributed) to the Company by or on behalf of that Holder (or any predecessor-in-interest of such Holder).
“Chairman” has the meaning given to such term in Section 7.6(b).
“Chief Executive Officer” has the meaning given to such term in Section 7.6(c).
“Code” means the Internal Revenue Code of 1986, as amended.  All references in this Agreement to sections of the Code shall include any corresponding provision or provisions of any succeeding law.
“Company” has the meaning given to such term in the introductory paragraph.
“Confidential Information” means any and all information, statements, reports, trade secrets, documents, and other items prepared or produced by or on behalf of the Company, any Subsidiary, the Board, any Member or any of their respective Affiliates and any and all information, statements, reports, trade secrets, documents, and other items concerning the Company, any Subsidiary, any Member or any of their respective Affiliates that any Holder may receive (as a Holder and not as a Manager or Officer) or that may be disclosed, distributed or disseminated (whether in writing, orally, electronically or by other means) by or to such Holder or any representative of such Holder, or otherwise as a result of such Holder’s ownership of a Membership Interest other than (a) any information such Holder can establish was already in such Holder’s possession at the time of its disclosure or which becomes available to such Holder from a source other than the Company or a representative of the Company and was lawfully obtained and is not known by such Holder to be the subject to another confidentiality agreement with, or obligation of secrecy or confidentiality to, the Company, any Member or any of their respective Affiliates, or (b) such information that becomes generally available to the public other than directly or indirectly as a result of the disclosure by such Holder or a representative of such Holder in violation of Section 3.2 or other provision hereof.
“Control” means, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether by agreement, contract or law or through any ownership of voting securities, power-of-attorney, proxy, or other arrangement or mechanism.
“Counsel” means Olshan Frome Wolosky LLP.

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“Delaware Act” has the meaning given such term in Section 2.1.
“Depreciation” means, for each Fiscal Year, an amount equal to the federal income tax depreciation, amortization or other cost recovery deduction allowable with respect to an asset for such Fiscal Year; provided, that if the Gross Asset Value of an asset differs from its adjusted basis for federal income tax purposes at the beginning of such Fiscal Year, Depreciation shall be an amount which bears the same ratio to such beginning Gross Asset Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such Fiscal Year bears to such beginning adjusted Tax basis; and, provided, further, that if the adjusted basis for federal income tax purposes of an asset at the beginning of such Fiscal Year is zero, Depreciation shall be determined with reference to such beginning Gross Asset Value using any reasonable method selected by the Board.
“Digirad Manager” means the Manager appointed by Digirad Corporation and identified on Exhibit B.
“Exchange Act” means the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, in each case as amended from time to time, or any successor thereto.
“Fiscal Year” means, except as otherwise determined by the Board in accordance with this Agreement, the calendar year, or any portion thereof for which the Company is required to allocate Profits, Losses and other items of income, gain, loss or deduction pursuant to Article VI hereof.
“Gross Asset Value” means, with respect to any asset, the asset’s adjusted basis for federal income tax purposes, except as follows:
(a)    the initial Gross Asset Value of any asset contributed to the Company (other than cash contributed by a Holder to the Company) shall be the gross fair market value of such asset at the time of contribution, as agreed by the contributing Holder and the Board;
(b)    as determined in good faith by the Board, the Gross Asset Values of all of the Company’s assets shall be adjusted to equal their respective gross fair market values as of the following events: (i) immediately before the acquisition of any Membership Interest by any new or existing Holder in exchange for more than a de minimis Capital Contribution or as consideration for the performance of services to or for the benefit of the Company, (ii) immediately before the distribution by the Company to a Holder of more than a de minimis amount of property as consideration for any Membership Interest (or portion thereof), (iii) immediately before the liquidation of the Company within the meaning of Treasury Regulation Section 1.704-1(b)(2)(ii)(g), (iv) in connection with the grant of an interest in the Company (other than a de minimis interest), as consideration for the provision of services to or for the benefit of the Company by an existing Member acting in a member capacity, or by a new member acting in a member capacity or in anticipation of being a member (v) immediately before the Company’s issuance of a noncompensatory option (as defined in Treasury Regulation Section 1.721-2(g)) to acquire a Membership Interest (other than a de minimis Membership Interest), (vi) immediately after the 

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exercise of a noncompensatory option (as defined in Treasury Regulation Section 1.721-2(g)) issued by the Company to acquire a Membership Interest (other than a de minimis Membership Interest), and (vii) such other times as may be required under Treasury Regulation Section 1.704-1(b)(2)(iv)(f)(5)(v); provided that no adjustment described in this subparagraph (b) shall be made if the Board determines in good faith that such adjustment is neither necessary nor appropriate to reflect the relative economic interests of the Holders in the Company;
(c)    the Gross Asset Value of any asset distributed by the Company (other than cash distributed to any Holder) shall be the gross fair market value of such asset, as determined immediately prior to the distribution in good faith by the Board;
(d)    the Gross Asset Values of the Company’s assets shall be increased (or decreased) to reflect any adjustments to the adjusted basis of such assets pursuant to Code Section 734(b) or Section 743(b), but only to the extent that such adjustments are taken into account in determining Capital Accounts pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m); provided, however, that Gross Asset Values shall not be adjusted pursuant to this subparagraph (d) to the extent that an adjustment pursuant to subparagraph (b) is required in connection with a transaction that would otherwise result in an adjustment pursuant to this subparagraph (d); and
(e)    if the Gross Asset Value of an asset has been determined or adjusted pursuant to subparagraph (a), (b) or (d), such Gross Asset Value shall thereafter be adjusted by the Depreciation (and not the depreciation, amortization or other cost recovery deductions allowable with respect to that asset for federal income tax purposes) taken into account with respect to such asset for purposes of computing Profits and Losses.
“Holder” means any Member or any other Person owning a Membership Interest, regardless of whether and to what extent such Member or other Person has been, is or will be admitted to the Company as a member in accordance with the provisions of this Agreement and applicable law.
“Indemnitee” means any Person that is or was a Manager, Member, or Officer, or any Person that is serving or served at the Company’s request as a director, manager, officer, employee or agent of another Person.
“IRS” means the United States Internal Revenue Service. 
“Major Decision” means any decision, contract, agreement, or other material activity on the part of the Company or any of its Affiliates relating to any of the following:
(a)    except as otherwise specifically described and provided in this definition, any contract or agreement or activity if the Board determines that, over the course of and in connection with such contract, agreement or activity, the Company and/or any of its Affiliates is or will be or can reasonably expected to be required to pay, reserve or otherwise expend more than $50,000;

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(b)    except for any debt incurred in the ordinary course of business to trade creditors or a draw-down on a revolving debt or other similar credit line facility, the incurrence of any new debt, the addition of any principal to an existing debt, or any increase in the available credit under a revolving loan or other similar credit line facility, where such principal, additional principal, or increase in available credit exceeds or will exceed $50,000;
(c)    the payment, refinancing, modification or settlement of any debt with an outstanding principal amount in excess of $50,000, other than the payment of debt incurred in the ordinary course of business to trade creditors or the repayment (other than as part of a refinancing) of a debt in accordance with its terms;
(d)    any Proceeding (or other action relating to a Proceeding) that (i) the Board reasonably determines is necessary to avoid a default judgment against the Company, any Manager, any Member or any of their respective Affiliates or to prevent or ameliorate any adverse or emergency condition, or that is covered by insurance; (ii) involves a claim (without any offset for any counterclaim or otherwise) for damages (or settlement thereof) of $25,000 or more; (iii) involves or includes a claim for any material equitable relief by any party; or (iv) involves or includes any claim or allegation of fraud, illegality or criminality on the part of the Company, any Manager, or any of their respective Affiliates;
(e)    on the part of the Company, the issuance, exchange, modification, recapitalization or other Transfer of any Membership Interest or other equity interest in the Company or any of its Affiliates or any right to acquire any of the foregoing (including, but not limited to, any warrants, options, convertible debt or other instruments);
(f)    any agreement related to a Sale of the Company on the part of the Company, any Affiliate of the Company, any Holder, any of their respective Affiliates or any combination of the foregoing;
(g)    the selection or removal (for any reason or no reason) of any Person as a Manager;
(h)    any increase or decrease in the number of Managers on the Board;
(i)    the selection, retention or dismissal of (i) any accounting firm engaged or to be engaged for the purpose of preparing any material financial statements and/or federal income tax return for or inclusive of the Company or any of its Affiliates or (ii) any law firm retained or to be retained with respect to any Proceeding subject to approval under clause (d) of this definition;
(f)    any material transaction involving any Affiliate of any Holder or any Manager;
(g)    with respect to the Company or any of its Affiliates, any change in the Fiscal Year for purposes of preparing any financial statement or the preparation of any material federal or state income Tax return;

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(h)    any voluntary election or other action by the Company or any of its Affiliates to liquidate or dissolve or wind-up (or make any assignment for the benefit of creditors) or to commence bankruptcy or insolvency proceedings under applicable law or causing or permitting the adoption of a plan of liquidation with respect to the Company or any of its Affiliates; and
(i)    subject to Section 13.2, any amendment to this Agreement, the Company’s Certificate of Formation or any corresponding organizational document in the case of any of the Company’s Affiliates.
“Member” means a Person admitted to the Company as a member in accordance with the provisions of this Agreement and applicable law.  If a Person admitted as a Member with respect to a Membership Interest acquires an additional Membership Interest, such Person shall not be treated as Member with respect to such additional Membership Interest, unless and until such Person is admitted as a Member in accordance with this Agreement with respect to and to the extent of such additional Membership Interest.
“Membership Interest” means, as provided in this Agreement, the entire equity interest in the Company of a Person (whether or not such Person is or has been admitted as a Member), including, but not limited to, the number of Units, any share of Profits and Losses, any right to participate in liquidating and non-liquidating distributions from the Company, any obligation to make capital contributions, and any and all other rights, obligations and duties associated with such equity interest.
“Nonrecourse Deductions” has the meaning set forth in Treasury Regulation Section 1.704-2(b)(1).
“Note” means a non-negotiable, unsecured promissory note, which note shall (a) bear interest at a fixed rate per annum equal to the applicable Federal rate (as such term is defined in Code Section 1274) in effect for the calendar month including the date of issuance (payable annually) and (b) have a five-year term with all principal due at maturity.  Principal may be pre-paid at any time without penalty.
“Notice 2005-43” means IRS Notice 2005-43, or any similar future guidance of the IRS, including any final pronouncement in respect thereof.
“Officer” means any Person validly and properly appointed and acting as a Chief Executive Officer, President, Vice-President, Treasurer, Assistant Treasurer, Secretary, Assistant Secretary, Partnership Representative or other officer described in Section 7.1(f).
“Partner Nonrecourse Debt” has the meaning set forth in Treasury Regulations Section 1.704-2(b)(4).
“Partner Nonrecourse Debt Minimum Gain” has the meaning set forth in Treasury Regulations Section 1.704-2(i)(2).

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“Partner Nonrecourse Deductions” has the meaning set forth in Treasury Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2).
“Partnership Minimum Gain” has the meaning set forth in Treasury Regulation Sections 1.704-2(b)(2) and 1.704-2(d).
“Partnership Representative” means the Person designated on Exhibit B as such or (b) if the Person so designated on Exhibit B cannot serve in the capacity of “partnership representative,” “tax matters partner” or other similar capacity, a Person (which Person may include any Manager) designated by the Board.  
“Person” means any individual, partnership, corporation, limited liability company, joint venture, trust, association or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 
“Preferred Return” means, as determined with respect to a Holder, an amount that, when combined with all prior distributions made under Section 5.1(b) to such Holder, yields a cumulative return of fifteen percent (15%) per annum, compounded quarterly, on the Unrecovered Capital (as outstanding from time to time) of such Holder, which return shall accrue daily and shall be computed on the basis of a 365 day or a 366 day year, as applicable.
“President” has the meaning given to such term in Section 7.6(d).
“Proceeding” means (a) any threatened, pending or completed administrative or judicial action, audit, suit, hearing, review deposition or other proceeding, whether civil or criminal, (b) any appeal or other administrative or judicial review of any item described in clause (a), and (c) any investigation or other inquiry that will or could potentially result in or give rise to any item described in clause (a).
“Profits” and “Losses” means, for each Fiscal Year, an amount equal to the Company’s taxable income or loss, respectively, for such Fiscal Year, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain loss, expense, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:
(a)    income of the Company that is exempt from federal income tax and not otherwise taken into account in computing Profits and Losses pursuant to this definition shall be taken into account in computing Profits;
(b)    any expenditures of the Company described in Code Section 705(a)(2)(B) (or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(i)) and not otherwise taken into account in computing Profits or Losses pursuant to this definition shall be taken into account in computing Profits and Losses;
(c)    in the event the Gross Asset Value of any Company asset is adjusted pursuant to subparagraph (b) or (d) of the definition of Gross Asset Value, the amount of such adjustment 

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shall be taken into account as gain or loss from the disposition of such asset for purposes of computing Profits and Losses;
(d)    any gain or loss resulting from any disposition of any Company asset with respect to which gain or loss is recognized for federal income tax purposes shall be determined by reference to the Gross Asset Value of such asset, notwithstanding that the adjusted tax basis of such asset differs from its Gross Asset Value;
(e)    in lieu of the depreciation, amortization and other capital cost recovery deductions taken into account in computing taxable income or loss, there shall be taken into account Depreciation for such Fiscal Year;
(f)    the computation of all items of income, gain, loss, expense, and deduction shall be made without regard to any election under Code Section 754 which may be made by the Company (except to the extent required by Treasury Regulations Section 1.704-1(b)(2)(iv)(m));
(g)    notwithstanding any other provision in any clause of this definition, any items of income, gain, loss, expense or deduction that are specially allocated pursuant to Section 6.2 or Section 6.3 shall not be taken into account in computing Profits and Losses; and
(h)    items of Company income, gain, loss, expense or deduction available to be specially allocated pursuant to Article VI shall be determined by applying rules analogous to those set forth in subparagraphs (a) through (f) above.
“Regulatory Allocations” has the meaning set forth in Section 6.3.
“Sale of the Company” means (a) any merger, consolidation or other combination of the Company with another Person, if the Members, as determined immediately prior to the relevant transaction, would own less than fifty percent (50%) (as measured immediately after the consummation of the relevant transaction in terms of either voting power or fair market value) of the equity interests of the surviving Person; (b) any sale or exchange or any series of related or coordinated sales or exchanges of Membership Interests, if the Members, as determined immediately prior to such sale or exchange or series of sales or exchanges, would own less than fifty percent (50%) (as measured immediately after such sale or exchange or series of sales or exchanges in terms of either Voting Units or fair market value) of the Membership Interests; (c) any issue or any series of related or coordinated issues of Membership Interests, if the Members, as determined immediately prior to such issue or series of issues, would own less than fifty percent (50%) (as measured immediately after such issue or series of issues in terms of either Voting Units or fair market value) of the Membership Interests; or (d) any direct or indirect sale or exchange of all or substantially all of the assets of the Company (including, but not limited to, any assets held directly or indirectly through an Affiliate of the Company).  No transaction shall be taken into account so as to cause a Sale of the Company to occur, if and to the extent such transaction occurs between or among the Company, any Affiliate of the Company or any combination of the foregoing or if and to the extent such transaction is a Transfer was made in accordance with Section 10.2.
“SEC” means the Securities and Exchange Commission.

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“Secretary” has the meaning given to such term in Section 7.6(f).
“State Tax” means any Tax other than U.S. federal income tax.
“Subsidiary” means any Person of which the Company owns fifty percent (50%) or more of the equity interests therein (either by vote or value).
“Services Agreement” means the Services Agreement, dated the date hereof, by and between the Company and KBS Builders, Inc. 
“Tax” means any federal, state, county, local, franchise or foreign income, payroll, employment, excise, environmental, customs, franchise, windfall profits, withholding, social security (or similar), unemployment, real property, personal property (tangible or intangible), sales, use, transfer, registration, value added, gross receipts, net proceeds, turnover, license, ad valorem, capital stock, disability, stamp, leasing, lease, excess profits, occupational and interest equalization, fuel, severance, alternative or add-on minimum or estimated tax, charge, fee, levy, duty or other assessment, and other obligations of the same or of a similar nature to any of the foregoing due or claimed to be due by or to any governmental or quasi-governmental authority, including any interest, penalty or addition thereto, whether disputed or not.
“Tax Proceeding” means any Proceeding to which the Company is a party if and when such Proceeding involves to any significant extent any issue or other matter (including, but not limited to, any adjustment to or other determination of any nexus, permanent establishment or item of income, gain, expense or loss) relating to (a) any U.S. federal, state or local income Tax, (b) the Company’s obligation to withhold or collect any Tax if any Manager, Member, or Officer could be held personally liable for any failure to collect or withhold such Tax and/or (c) any other domestic or foreign Tax if there is possibility that, as result of the Proceeding, any Member could either (i) become subject to Tax in a jurisdiction where such Member was not otherwise subject to Tax during the time period at issue or (ii) through the issuance of a revised Schedule K-1 or other similar mechanism, any adjustment or other determination resulting from such Proceeding would flow through to and would be required to be taken into account on any separate domestic or foreign Tax return of any Member.
“Total Equity Value” means, as determined from time to time as specified in this Agreement, the aggregate proceeds that would be received by the Holders if: (a) all of the assets of the Company were sold at their Gross Asset Value pursuant to a liquidation of the Company and (b) the Company satisfied and paid in full all of its respective obligations and liabilities (including all Taxes, costs and expenses incurred in connection with such transaction and any amounts reserved by the Board with respect to any contingent or other liabilities) all as determined by the Board in its sole discretion.
“Transfer” means, whether direct or indirect, any transfer, sale, redemption, option grant, swap or other derivative transaction, assignment, issuance, gift, abandonment, termination, withdrawal, bequest, pledge, lien, mortgage or other encumbrance or disposition (irrespective of whether any of the foregoing is effected voluntarily, by operation of law or otherwise, or whether inter vivos or upon death), including, but not limited to, (a) any issuance, redemption or abandonment 

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of a Membership Interest, (b) any exchange or conversion of any Membership Interest as a result of or in connection with any incorporation, merger, consolidation, combination or other similar transaction involving the Company or any Affiliate of the Company, and (c) any transaction similar to any of foregoing transactions with respect to any Holder that is an entity or any equity interest in any such Holder.
“Treasurer” has the meaning given to such term in Section 7.6(g).
“Treasury Regulations” means the final or temporary regulations that have been promulgated under the Code by the U.S. Department of the Treasury, and any successor regulations.
“Underpayment Amount” means, as determined with respect to a Holder, (a) any “imputed underpayment” determined under Code Section 6225, (b) any similar or corresponding amount determined under any similar or corresponding provision of any State Tax, (c) any other similar or corresponding amount if and to the extent such amount represents the payment or collection of any Tax that would otherwise be paid or payable by such Holder as a result of the pass-through (or similar treatment) of any item of Profit or Loss to such Holder, and (d) any withholding, estimated or other Tax required by law to be withheld or paid by the Company with respect to or on behalf of such Holder.
“Unit” means any unit associated with any Membership Interest under this Agreement.
“Unpermitted Deficit” has the meaning set forth in Section 6.2(c). 
“Unrecovered Capital” means, as determined with respect to a Holder, the excess of (a) the total aggregate Capital Contributions made by the Holder with respect to the Units of such Holder over (b) the aggregate distributions made under Section 5.1(a) to such Holder.
“Vice-President” has the meaning given to such term in Section 7.6(b).
“Voting Unit” means any Unit entitled to a vote under the terms of this Agreement.
ARTICLE II
ORGANIZATIONAL MATTERS
Section 2.1    Legal Status.  The Company is a limited liability company formed and existing under the Delaware Limited Liability Company Act, as amended (the “Delaware Act”).  The Company shall be governed by the Delaware Act.  The Board and the Holders shall take such steps as are necessary to maintain the Company’s status as a limited liability company formed under the laws of the State of Delaware and qualification to conduct business in any jurisdiction where the Company does business and is required to be so qualified.
Section 2.2    Name.  The name of the Company is STAR PROCUREMENT, LLC.  The Board may change the name of the Company at any time and from time to time.  The Company’s business may be conducted under its name and/or any other name or names deemed advisable by the Board.

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Section 2.3    Purpose.  The purpose of the Company is to engage in any lawful act or activity that may be conducted by a limited liability company formed under the Delaware Act related to the Business, and to engage in any other activities and transactions necessary or incidental to the foregoing.  The Company shall possess and may exercise all the powers and privileges granted by the Delaware Act or by any other law or by this Agreement, together with any powers incidental thereto, insofar as such powers and privileges are necessary or convenient to the conduct, promotion or attainment of the foregoing objectives and purposes of the Company.
Section 2.4    Term.  The term of the Company commenced on the date specified in the Certificate of Formation filed for record in the Office of the Secretary of State of the State of Delaware and shall continue until the Company is dissolved pursuant to this Agreement.
ARTICLE III
MEMBERS AND MEMBERSHIP INTERESTS
Section 3.1    Holders.  Exhibit A sets forth the name of each Holder, along with certain specified characteristics of the Membership Interest of such Holder.  From time to time, the Board may amend Exhibit A (without the consent of any Person) to reflect any change in ownership, redemption, forfeiture, cancellation or issuance of or other event affecting any Membership Interest; provided, that, except as otherwise specifically provided in this Agreement, no such amendment shall increase the Capital Contribution of any Holder.
Section 3.2    Confidentiality.  To the maximum extent permitted by law and as permitted pursuant to this Agreement, (a) each Holder (in such ownership capacity and not as a Manager or Officer) agrees to hold all Confidential Information in confidence and not to disclose any Confidential Information to any Person (other than the Company, any other Holder, any Manager or any Officer) and (b) the Company agrees to hold all Confidential Information concerning any Member or any Affiliate of a Member in confidence and not to disclose any such Confidential Information to any Person (other than the Company, any Manager or any Officer), in each case other than (i) to the financial, legal or other professional advisors or translators of a Holder, or where such Person is an entity, to those employees, partners (general or limited), Affiliates, members, managers, shareholders, officers or directors of such Person or any lender or prospective lender of the Company or any Subsidiary, as reasonably required by such lender, provided that such Persons have been previously informed of the confidential nature of the Confidential Information, and, in any event, the Person disclosing such Confidential Information shall be liable for any failure by any Person to whom or which such Confidential Information has been disclosed to abide by the provisions of this Section 3.2, (ii) as required under applicable law or regulation (including, but not limited to, the preparation of any Tax return) or by court or governmental order, subpoena or legal process, (iii) as permitted by the Board or any affected Holder, if applicable or (iv) as permitted to any permitted assignee of any Membership Interest pursuant to Article X.  Each Holder and the Company acknowledge that disclosure of Confidential Information in violation of the provisions of this Section 3.2 may cause irreparable injury to the Company and/or the Members for which monetary damages are inadequate, difficult to compute, or both.  Accordingly, each Holder and the Company agree that such Holder’s and the Company’s obligations under this Section 3.2 may be 

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enforced by specific performance and that breaches or prospective breaches of this Section 3.2 may be preliminarily and/or permanently enjoined.
Section 3.3    Certification.  No Membership Interest shall be certificated unless otherwise directed by the Board.  From time to time, the Board may cause any or all of the Membership Interests to be certificated, and may place one or more legends on any of such certificates.  Without limitation of the foregoing, the Board may place the following legend on such certificates:
The securities represented hereby have not been registered under the Securities Act of 1933, as amended (the “Act”) or any applicable states securities laws, and may not be resold unless they are registered under the Act and those securities laws or an exemption from registration is available thereunder.  The securities represented hereby are subject to the Limited Liability Company Agreement of the issuer of such securities dated as of [DATE], as amended from time to time, including the transfer restrictions set forth therein.  A copy of that agreement may be obtained at the Company’s principal executive offices without charge.
ARTICLE IV
CONTRIBUTIONS AND CAPITAL ACCOUNTS
Section 4.1    Capital Contributions.  Each Holder has made or promptly shall make a Capital Contribution (if any) to the Company as set forth opposite such Person’ name on Exhibit A hereto.  No other Capital Contributions have been made or shall be made to the Company other than as set forth on Exhibit A.  Except as otherwise specifically provided in this Agreement, no Holder shall be required to make any additional Capital Contribution.
Section 4.2    Loans.  Any Member may make loans to the Company at such times and on such terms as are mutually agreed upon by the Board and such Member, and any loan by a Member to the Company shall not be considered to be a Capital Contribution for any purpose and shall not result in an increase in the amount of the Capital Account of such Member.
Section 4.3    Return of Capital Contributions; Interest.  No Holder shall be paid interest on any Capital Contribution to the Company or on such Person’s Capital Account, and no Person shall have any right (a) except upon dissolution of the Company pursuant to the terms of this Agreement, to demand the return of such Person’s Capital Contribution or any other distribution from the Company (whether upon resignation, withdrawal or otherwise) or (b) to cause a partition of the Company’s assets.
Section 4.4    Capital Accounts.  An individual Capital Account shall be established and maintained for each Holder, in the manner provided by Treasury Regulations Section 1.704-1(b)(2)(iv) and the following provisions:
(a)    to such Holder’s Capital Account there shall be credited such Holder’s Capital Contributions, such Holder’s distributive share of Profits and other items of income or gain specially 

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allocated hereunder and the amount of  any Company liabilities that are assumed by such Holder or that are secured by any Company assets distributed to such Holder;
(b)    to such Holder’s Capital Account there shall be debited the amount of cash and the Gross Asset Value of any other asset of the Company distributed to such Holder pursuant to any provision of this Agreement, such Holder’s distributive share of Losses and other items of loss, expense and deduction specially allocated hereunder and the amount of any liabilities of such Holder that are assumed by the Company or that are secured by any asset contributed by such Holder to the Company;
(c)    in determining the amount of any liability for purposes of this Section 4.4, there shall be taken into account Code Section 752(c) and any other applicable provisions of the Code or the Treasury Regulations; and
(d)    in the event that ownership of (all or a portion of) any Membership Interest is acquired by a Person in accordance with the terms of this Agreement, such Person shall succeed to the Capital Account associated with the acquired Membership Interest.
Section 4.5    Limitation on Liability.  Except as otherwise required by applicable law, no Holder shall have any personal liability whatsoever in such Holder’s capacity as a Holder, whether to the Company or any of its Affiliates, to any of the other Holders, to the creditors of the Company or any of its Affiliates or to any other Person, for the debts, liabilities, commitments or any other obligations of the Company or any of its Affiliates.  Each Holder shall be liable only to make such Holder’s Capital Contribution and for any other obligations provided expressly herein and shall not be required to pay to the Company or any other Holder any deficit or negative balance which may exist from time to time in such Holder’s Capital Account including, but not limited to, upon or after dissolution of the Company.
ARTICLE V
DISTRIBUTIONS
Section 5.1    General.  Subject to Section 5.2 and Section 5.3, as determined by the Board in its sole discretion from time to time, the Company may make distributions of Available Cash to the Holders as follows:
(a)    First, to the Holders, pro rata in accordance with their respective amounts of Unrecovered Capital, until each such Holder’s Unrecovered Capital equals zero; 
(b)    Second, to the Holders, pro rata in accordance with their respective amounts of Preferred Return, until each such Holder has received an amount equal to the Preferred Return of such Holder; and
(c)    Third, to the Holders, pro rata in accordance with their respective total Units.
Section 5.2    In-Kind Distributions.  Distributions of property other than cash may be made in the discretion of the Digirad Manager.  All distributions of property in kind shall be made 

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as Available Cash under and in accordance with Section 5.1 and/or Section 11.3, as applicable.  Property distributed in kind shall be unencumbered and, for purposes of determining Available Cash, shall be treated as cash in an amount equal to its Gross Asset Value.  Except explicitly provided under this Agreement or as otherwise required under the Delaware Act, no Holder shall be entitled to distributions of property other than cash.
Section 5.3    Tax Distributions.
(a)    Notwithstanding anything herein to the contrary, during each Fiscal Year or within ninety (90) days thereafter, to the extent of Available Cash and to the extent permitted by the Delaware Act, the Company shall, before any distributions are made under Section 5.1, distribute, in cash, to each Member an amount sufficient to enable such Member to satisfy such Member’s federal, state and local Tax liabilities attributable to the items of income, gain, loss or deduction allocated to such Member by the Company with respect to such Fiscal Year.  The amount to be distributed shall be determined by the Board in consultation with the Company’s accountants and shall be computed for each Member (i) as if such Member were taxable at the highest applicable federal, state and local income Tax rates applicable to an individual domiciled in New York City, New York; provided that such rate may be increased or decreased from time to time as reasonably determined by the Board to take into account increases or decreases in applicable federal, state and local income tax rates for such location; (ii) as if allocations from the Company were, for such year, the sole source of income and loss for such Member (but determined without regard to allocations of any Company items deductible by individuals only under Code Section 212); and (iii) without regard to the carryover of items of loss, deduction and expense previously allocated by the Company to such Member.  The Board may cause the Company to make Tax distributions to Members during any year to cover estimated Taxes based on good-faith estimates of their respective tax liabilities attributable to Company Tax items for such year.
(b)    Any distributions under Section 5.3(a) to and any Underpayment Amount required by law to be withheld or paid by the Company with respect to or on behalf of or that is otherwise allocable to a Holder shall be treated as an advance and offset against and shall reduce any amount otherwise distributable to a Member under Section 5.1 or Section 5.2.  Promptly upon demand from the Company, a Holder shall pay to the Company an amount equal to any Underpayment Amount (to the extent not previously offset against any distributions under Section 5.1 or otherwise reimbursed to the Company by the Holder) that the Company has paid with respect to or on behalf of such Holder.  Each Holder shall indemnify and hold harmless the Company and the other Holders from and against any liability arising out of the failure to deduct and withhold any Underpayment Amount.
ARTICLE VI
ALLOCATIONS
Section 6.1    Allocations of Profit or Loss.  For each Fiscal Year, after adjusting each Holder’s Capital Account for all capital contributions and distributions during such Fiscal Year and making all allocations pursuant to Section 6.2 or Section 6.3 with respect to such Fiscal Year, items of Profit and Loss shall be allocated to each Holder such that, as of the end of such Fiscal Year, the Capital Account of each Holder shall equal:

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(a)    the amount that would be distributed under Section 5.1 to such Holder, determined as if the Company were to sell (as of the last day of the Fiscal Year) all of its assets for cash equal to their Gross Asset Values pursuant to a liquidation of the Company and distribute all of such cash in accordance with Section 11.3 (with the assumption that the amount paid in satisfaction of any nonrecourse obligation is limited to the Gross Asset Value of any property securing the nonrecourse obligation), minus 
(b)    the sum of (i) the amount, if any, which each Holder is or would be obligated to contribute to capital in connection with a liquidation of the Company or otherwise in accordance with the Agreement or applicable law, (ii) such Holder’s share of Partnership Minimum Gain and (iii) such Holder’s share of Partner Nonrecourse Debt Minimum Gain.
Section 6.2    Special Allocations.  The following special allocations shall be made in the following order:
(a)    Except as otherwise provided in Treasury Regulations Section 1.704-2(f), notwithstanding any other provision of this Article VI, if there is a net decrease in Partnership Minimum Gain during any Fiscal Year, each Holder shall be specially allocated items of Company income and gain for such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to such Holder’s share of the net decrease in Partnership Minimum Gain, determined in accordance with Treasury Regulations Section 1.704-2(g).  Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Holder pursuant thereto.  The items to be so allocated shall be determined in accordance with Treasury Regulations Sections 1.704-2(f)(6) and 1.704-2(j)(2).  This Section 6.2(a) is intended to comply with the minimum gain chargeback requirement in Treasury Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.
(b)    Except as otherwise provided in Treasury Regulations Section 1.704-2(i)(4), notwithstanding any other provision of this Article VI, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain attributable to a Partner Nonrecourse Debt during any Fiscal Year, each Holder who has a share of the Partner Nonrecourse Debt Minimum Gain attributable to such Partner Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain for such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to such Holder’s share of the net decrease in Partner Nonrecourse Debt Minimum Gain attributable to such Partner Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(4).  Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Holder pursuant thereto.  The items to be so allocated shall be determined in accordance with Treasury Regulations Sections 1.704-2(i)(4) and 1.704-2(j)(2).  This Section 6.2(b) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement in Treasury Regulations Section 1.704 2(i)(4) and shall be interpreted consistently therewith.
(c)    In the event any Holder unexpectedly receives any adjustments, allocations, or distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) or 1.704-1(b)(2)(ii)(d)(6) that cause such Holder’s Capital Account to be reduced below 

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zero by an amount greater than such Holder’s obligation to restore deficits on the dissolution of the Company (including deemed obligations to restore deficits under Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5)) (such excess, an “Unpermitted Deficit”), items of Company income and gain shall be specially allocated to such Holder in an amount and manner sufficient to eliminate the Unpermitted Deficit of such Holder as quickly as possible, provided that an allocation pursuant to this Section 6.2(c) shall be made only if and to the extent that such Holder would have an Unpermitted Deficit after all other allocations provided for in this Article VI have been tentatively made as if this Section 6.2(c) were not in the Agreement.  This Section 6.2(c) is intended to constitute a “qualified income offset” within the meaning of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted and applied in a manner consistent therewith.
(d)    Notwithstanding any other provision of this Agreement to the contrary, for any Fiscal Year, Nonrecourse Deductions and any items required to be allocated for purposes of Code Section 199A shall be allocated among the Holders pro rata in accordance with their economic interests.
(e)    Notwithstanding any other provision of this Agreement to the contrary, any Partner Nonrecourse Deductions for any Fiscal Year shall be allocated to the Holder who (in its capacity, directly or indirectly, as lender, guarantor or otherwise) bears the economic risk of loss with respect to the Partner Nonrecourse Debt to which such Partner Nonrecourse Deductions are attributable in accordance with Treasury Regulations Section 1.704-2(i)(1).
(f)    To the extent an adjustment to the adjusted Tax basis of any Company asset pursuant to Code Section 734(b) or Code Section 743(b) is required pursuant to Treasury Regulations Sections 1.704-1(b)(2)(iv)(m)(2) or 1.704-1(b)(2)(iv)(m)(4) to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of the Holder’s Membership Interest, the amount of such adjustment to Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such gain or loss shall be specially allocated to the Holders in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to such sections of the Treasury Regulations.
Section 6.3    Curative Allocations.  The allocations set forth in Sections 6.2(a) through 6.2(f) hereof (the “Regulatory Allocations”) are intended to comply with certain requirements of the Treasury Regulations.  It is the intent of the Holders that, to the extent possible, all Regulatory Allocations shall be offset either with other Regulatory Allocations or with special allocations of other items of Company income, gain, loss or deduction pursuant to this Section 6.3.  Therefore, notwithstanding any other provision of this Article VI (other than the Regulatory Allocations), the Holders shall make such offsetting special allocations of Company income, gain, loss, or deduction so that, after such offsetting allocations are made, each Holder’s Capital Account balance is, to the extent possible, equal to the Capital Account balance such Holder would have had if the Regulatory Allocations were not part of the Agreement and all Company items were allocated pursuant to Section 6.1 and Section 6.5.
Section 6.4    Section 704(c) and Capital Account Revaluation Allocations.  In accordance with Code Section 704(c) and the Treasury Regulations thereunder, income, gain, loss, 

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expense, and deduction shall, solely for income Tax purposes, be allocated among the Holders so as to take account of any variation between the adjusted basis for federal income tax purposes of property contributed to the capital of the Company and such contributed property’s initial Gross Asset Value; provided that such allocations shall be based upon the “traditional method” described in the Treasury Regulations Section 1.704-3(b).  In the event that the Gross Asset Value of any Company asset is adjusted pursuant to subparagraph (ii) of the definition of Gross Asset Value, subsequent allocations of income, gain, loss, expense, and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as under Code Section 704(c) and the Treasury Regulations thereunder; provided that such allocations shall be based upon the “traditional method” described in the Treasury Regulations Section 1.704-3(b).  Allocations pursuant to this Section 6.4 are solely for federal, state, and local income Tax purposes and shall not affect, or in any way be taken into account in computing, any Holder’s Capital Account or share of Profits, Losses, other items, or distributions pursuant to any provision of this Agreement.
Section 6.5    Additional Allocation Rules.
(a)    For purposes of determining the Profits, Losses or any other items allocable to any period, Profits, Losses and any such other items shall be determined on a daily, monthly or other basis (but no less frequently than once annually), as reasonably determined in good faith by the Board using any method that is permissible under the Code (including, but not limited to, Code Section 706) and the Treasury Regulations thereunder.  In the event there is a change in any Holder’s interest in the Company during a Fiscal Year, Profits, Losses and other items of income, gain, loss, expense, and deduction shall be appropriately allocated among the Holders to take into account the varying interests of the Holders so as to comply with Code Section 706(d).
(b)    Except as otherwise provided in this Agreement, all items of income, gain, loss, expense and deduction and any other allocations not otherwise provided for shall be allocated among the Holders in the same manner as is applicable to Profits and Losses for the Fiscal Year in question.
Section 6.6    Tax Filings, Elections and Cooperation.
(a)    Except as otherwise set forth herein, the Company shall properly prepare and timely file or shall cause to be properly prepared and timely filed all Tax returns required to be filed for or on behalf of the Company, which Tax returns shall be prepared, except as otherwise provided herein, in such manner (including, but not limited to, the making of any election or the taking of any position) as the Board may determine in good faith to be in the best interests of the Members.  Unless otherwise required by applicable law, the Company shall use the Fiscal Year as the Tax period on all income Tax returns.
(b)    The Company shall (a) use reasonable efforts to cause to be delivered within seventy-five (75) days after the end of each Fiscal Year (but in no event later than September 15 of the Fiscal Year immediately following each such Fiscal Year), a Schedule K-1 with respect to each such Fiscal Year to each Person that was a Holder at any time during each such Fiscal Year; and (b) make available to each Holder such other information as may be necessary for the preparation of 

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any Tax return for or including such Holder or the making of any estimated Tax payment for or on behalf of such Holder (or if such Holder is a flow-through entity for federal income tax purposes, its direct or indirect owners).
(c)    To the maximum extent permitted by the Code, the Treasury Regulations and other applicable law, the Company shall make or cause to be made and shall maintain or cause to be maintained:
(i)    in the case of any Fiscal Year with respect to which the Company is eligible to make an election under Code Section 6221(b), an election to apply Code Section 6221(b), and
(ii)    in the case of any Fiscal Year with respect to which the Company fails or is ineligible to make an election under Code Section 6221(b), an election to apply Code Section 6226.
(d)    Except as provided in Section 7.1(e), the Company shall take and shall cause to be taken any and all actions (including, but not limited to, the providing of all notices required under Code Section 6221(b)(1)(E) and all statements required under Code Section 6226(a)(2)) necessary to allow the making and maintenance of any election in accordance with Section 6.6(c).  As determined by the Digirad Manager, the Company may apply any reasonable method for the purpose of determining (i) a Holder’s share of any adjustment described in Code Section 6226(a)(2) (including, but not limited to, for the purpose of providing any statement described in Code Section 6226(a)(2)) or for any other Tax purpose or (ii) the extent to which any Underpayment Amount has been withheld or paid by the Company with respect to or on behalf of or is otherwise attributable to a Holder.  Any determination under the preceding sentence shall be final and binding on the Company and all Holders and neither the Company nor any Holder shall take any position for any purpose that is inconsistent with such determination.
(e)    To the extent permitted by a State Tax, the Company shall take such actions as may be reasonably necessary to reduce, prevent or otherwise mitigate the Company’s liability for any Underpayment Amount under the State Tax, including, but not limited to, making elections similar to and in the same order of preference as the elections described in each of Section 6.6(c) and Section 6.6(d).
(f)    As determined by the Digirad Manager in its sole discretion, the Company may elect in a timely manner pursuant to Code Section 754 and pursuant to any corresponding provisions of applicable state and local Tax laws to adjust the bases of the assets of the Company pursuant to Code Sections 734 and 743 and pursuant to any corresponding provisions of applicable state and local Tax laws.
(g)    Neither the Company, any Manager, any Officer, nor any Holder shall take any action (including, but not limited to, the filing of any Tax return or the making of any election on or in connection with any Tax return) or permit or cause any action to be taken by or on behalf of the Company that would cause or otherwise result in: 

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(i)    the classification of the Company or any of its Affiliates as an association taxable as a corporation for any income Tax purpose,
(ii)    the exclusion of the Company from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of other applicable Tax law,
(iii)    the taking by any Holder of any position for any purpose that is inconsistent with the treatment of such position on any U.S. federal income tax return of the Company or any of its Affiliates, and
(iv)    the amendment, revocation, lapse or termination of any election under Code Section 6221(b) or Code Section 6226, each as in effect with respect to a Fiscal Year.
(h)    When and as requested by the Company, each Holder, at the Holder’s own expense, shall preserve and furnish to the Company all documents and information (including, but not limited to, any change in mailing address or other contact information, any change in residency for any Tax purpose, and any social security, employer identification or other taxpayer identification number), and shall take such other action (including, but not limited to, a Holder’s filing of one or more amended Tax returns) as may be necessary to enable the Company or the Board (or any Person on behalf of the Company or the Board) to (i) prepare, amend and/or file any Tax return (including, but not limited to, any making, amendment, rescission or revocation of any election on or with respect to any Tax return), (ii) eliminate, settle, limit, reduce, modify or otherwise determine any liability for any Underpayment Amount (including, but not limited to, any “imputed underpayment amount” under Code Section 6225(c)), (iii) register to do business, collect Tax, or comply with any similar prerequisite to doing business or conducting any other activity in any jurisdiction, or (iv) pursue, defend, settle or otherwise respond to any Proceeding.  In the case of any Fiscal Year with respect to which an election under Code Section 6226 (or under any other similar or corresponding provisions of any State Tax) is or will be in effect, each Holder shall comply with all provisions of Code Section 6226 (and any other similar or corresponding provisions of any State Tax), including, but not limited to, taking such Holder’s share of any adjustment under Code Section 6226 into account on any separate Tax return of such Holder, the amendment of all Tax returns affected by such adjustment, and the payment of any increased or additional Tax resulting therefrom.
(i)    Without the consent of the Digirad Manager, which consent shall be at the sole discretion of the Digirad Manager, no Holder shall take any action (including, but not limited to, converting from an entity described in Code Section 6221(b)(1)(C) to an entity not described in Code Section 6221(b)(1)(C) and any gift, bequest or other Transfer) that, either alone or in conjunction with any other action or other circumstance, can or will revoke, amend, terminate or otherwise adversely affect any election under Code Section 6221(b) or the Company’s present or future ability or eligibility to make any election under Code Section 6221(b).
Section 6.7    Partnership Representative.
(a)    The Partnership Representative shall act and serve in the capacity as the “partnership representative” within the meaning of Code Section 6223 and, if and to the extent 

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permitted by an applicable State Tax, as the “partnership representative” or “tax matters partner” or in any other similar capacity for purposes of such State Tax.  If the Partnership Representative for federal income tax purposes cannot also serve in the capacity of a “partnership representative” or “tax matters partner” or in any other similar capacity for purposes of a State Tax, the Partnership Representative designated by the Board for purposes of such State Tax shall act in such capacity for purposes of such State Tax (and only for purposes of such State Tax).  No more than one Person at any time may serve as the Partnership Representative with respect to the same Tax in the same Fiscal Year.  No Person shall be selected as the Partnership Representative with respect to a Fiscal Year, unless (i) for federal income tax purposes, such Person is qualified to serve as the “partnership representative” within the meaning of Code Section 6223 and (ii) in the case of any State Tax for any Fiscal Year, such Person is qualified to serve in the requisite capacity under the State Tax. During any time that a Partnership Representative is not also a Manager, the Partnership Representative shall act at all times only under the supervision of and at the direction of the Digirad Manager and, except as otherwise provided in this Agreement, the Partnership Representative shall not and shall not have the authority to bind the Company, any Manager, any Holder or any Officer in any Proceeding.  The Partnership Representative (and any designee of the Partnership Representative in its role as a “designated individual” (as such term is defined in Treasury Regulations Section 301.6223-1(b)(3))) shall be an Officer for all purposes of this Agreement. 
(b)    Within ten (10) days after the receipt of any notice from the IRS (or other Tax authority) relating to any Tax Proceeding, the Company shall mail or cause to be mailed a copy of such notice to each Member.  Thereafter, the Company shall deliver or cause to be delivered to each Member in writing (or in such other form as may be necessary to preserve any applicable attorney-client privilege) a report setting forth in reasonable detail the status of the Tax Proceeding, no later than ten (10) days after the close of each calendar quarter or an occurrence of any significant change, progress or other development in the Tax Proceeding (including, but not limited to, copies of all material written communications relating to the Tax Proceeding that the Company, any Manager or any Officer may send or receive).
(c)    Neither the Company, any Manager nor any Officer, either directly or through any of their respective Affiliates, shall take any material direct or indirect action or make any material decision with respect to any Tax Proceeding, or any of Code Sections 6221 through 6241, unless (i) (A) the Company has first given the Members written notice of the contemplated action or decision at least ten (10) Business Days prior to the taking such action and (B) the Company has received the written consent of the Members holding more than fifty percent (50%) of the Voting Units to such contemplated action or decision or (ii) the Board determines in good faith that obtaining the written consent of the Members in accordance with the immediately preceding clause would result, in the interim required to obtain such consent, in a default judicial or administrative judgment against the Company, any Manager, any Member or any of their respective Affiliates.  Neither the Company, any Manager nor any Officer shall bind any Member to a settlement agreement with respect to any Tax without first obtaining the written consent of such Member.
Section 6.8    Survival.  If a Person, in whole or in part, makes a Transfer of a Membership Interest or otherwise ceases to be a Holder (including, but not limited to, as a result of any abandonment of a Membership Interest), then such Person shall remain obligated and subject 

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to the terms and conditions of each of Section 5.3(b), Section 6.6 and Section 6.8, along with any other provisions of this Agreement necessary or ancillary to implementation of any of Section 5.3(b), Section 6.6 and Section 6.8,  in the same manner as if such Transfer or cessation never occurred.  
ARTICLE VII
MANAGEMENT
Section 7.1    Management of the Company.
(a)    Each Voting Unit shall be entitled one (1) vote.
(b)    There shall be a board of managers (the “Board”) with at least one Person selected as a Manager (as defined below).  Except as provided below in this Section 7.1, a Person shall serve as a Manager until the effective date of such Person’s resignation or removal (for any reason or no reason) as a Manager by the Members in accordance with Section 7.1(c).  As of the date hereof and unless otherwise altered by the Members in accordance with Section 7.1(c), the Board shall consist of two managers (each, a “Manager”)  (as identified on Exhibit B).   Digirad Corporation may, in its sole discretion, replace the Digirad Manager, and ATRM Holdings, Inc. may, in its sole discretion, replace the ATRM Manager.
(c)    Subject to Section 7.1(b), upon a vote of Members owning more than fifty percent (50%) of the Voting Units, the Members may (i) for any reason or no reason, remove any Person as a Manager (including, but not limited to, any removal necessary as a result of any decrease in the number of Managers on the Board) and/or (ii) fill any vacancy on the Board (whether occurring as a result of a resignation, an increase in the number of Managers on the Board or otherwise).
(d)    The business and affairs of the Company shall be managed exclusively by the Board and by such Officers as may be appointed from time to time by the Board.  Except as provided in Section 7.1(e) or a non-waivable provision of the Delaware Act, the Board shall have full and complete authority, power and discretion to direct, manage and control the business, affairs and properties of the Company and its Affiliates.
(e)    Notwithstanding anything to the contrary contained herein, each of the Company, the Board, any Manager, any Officer and any of their respective Affiliates shall not take and shall not cause or allow any of their respective Affiliates to take any action or other activity (other than any non-binding and reasonable activity that is exploratory, investigatory or similar in nature) regarding any Major Decision without the consent of the Digirad Manager.
(f)    Except as provided on Exhibit B or as otherwise provided in this Agreement, the Board may appoint one or more Officers with the rights and duties set forth in this Agreement and such other officers and agents of the Company with such titles, rights and duties as the Board may from time to time determine.  For any reason or no reason, at any time, the Board may remove a Person as an Officer (provided that such removal shall have no effect on such Person’s status, if any, as a Member).  A Person shall serve as an Officer shall serve until such Person’s successor is appointed by the Board, or until such Person’s earlier death, incapacity, resignation or removal by the Board. 

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Section 7.2    Resignation.  A Person may resign as a Manager at any time by giving written notice to the Company.  The resignation of a Person as a Manager shall not affect any rights or obligations of such Person and shall not constitute a withdrawal of such Person as a Member.
Section 7.3    Vacancies.  Any vacancy occurring for any reason on the Board shall be filled by the Members, in accordance with the provisions of Section 7.1.
Section 7.4    Action by the Board.  The Board may act by vote, resolution or other action approved or adopted at a meeting held in accordance with this Section 7.4, or by a written consent signed in accordance with this Section 7.4.  The rules for the conduct of meetings of the Board and for action by written consent of the Board are as follows:
(a)    A meeting of the Board may be called by any Manager.  A meeting of the Board shall be called upon delivery to the Managers of notice of a special meeting of the Board given in accordance with Section 7.4(b) below.
(b)    The Company shall send written notice stating the date, time, and place of any meeting of the Board and a description of the purpose for which the meeting is called, to each Manager, at such address as appears in the records of the Company at least three (3) Business Days, but no more than thirty (30) Business Days, before the date of the meeting.
(c)    A Manager may waive notice of any meeting, before or after the date and time of the meeting as stated in the notice, by delivering a signed waiver to the Company for inclusion in the minutes.  A Manager’s presence at any meeting (i) waives objection to lack of notice or defective notice of the meeting, unless the Manager at the beginning of the meeting objects to holding the meeting or transacting business at the meeting, and (ii) waives objection to consideration of a particular matter at the meeting that is not within the purposes described in the meeting notice, unless the Manager objects to considering the matter when it is presented.
(d)    Any or all Managers may participate in any meeting by, or through the use of, any means of communication by which all Managers participating may simultaneously hear each other during the meeting, and such means of communication shall be made available to each Manager in connection with each annual or special meeting of the Board.  A Manager so participating is deemed to be present in person at the meeting.
(e)    The presence of both Managers at any meeting is necessary for a quorum.  Any action proposed to be taken by the Board shall be approved upon the affirmative vote of both Managers present at the meeting, with each Manager having one vote.
(f)    Any action required or permitted to be taken at a meeting of the Board may be taken without a meeting if the action is consented to in writing and is signed by all of the Managers.  The written consent shall be delivered to the Company for inclusion in the minutes.
Section 7.5    Action by the Members.  The Members may act by vote, resolution or other action approved or adopted at a meeting held in accordance with this Section 7.5, or by a 

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written consent signed in accordance with this Section 7.5.  The rules for the conduct of meetings of the Members and for action by written consent of the Members are as follows:
(a)    Meetings of the Members may be called only by (i) the Board or (ii) Members owning at least ten percent (10%) of the Voting Units.  Meetings of the Members shall be called upon delivery to the Members of notice of a meeting of the Members given in accordance with Section 7.5(b) below.
(b)    Upon the request of the Board or the Members calling a meeting of the Members under Section 7.5(a)(ii), the Company shall send written notice stating the date, time, and place of any meeting of the Members and a description of the purpose for which the meeting is called, including any matter to be voted on by the Members (and no other matter may be so presented for a vote of the Members without first complying with the notice provisions in this Section 7.5(b)), to each Member, at such address as appears in the records of the Company at least ten (10), but no more than thirty (30), days before the date of the meeting.
(c)    A Member may waive notice of any meeting, before or after the date and time of the meeting as stated in the notice, by delivering a signed waiver to the Company for inclusion in the minutes.  A Member’s presence at any meeting (i) waives objection to lack of notice or defective notice of the meeting, unless the Member at the beginning of the meeting objects to holding the meeting or transacting business at the meeting, and (ii) waives objection to consideration of a particular matter at the meeting that is not within the purposes described in the meeting notice, unless the Member objects to considering the matter when it is presented.
(d)    Any or all Members may participate in any meeting by, or through the use of, any means of communication by which all Members participating may simultaneously hear each other during the meeting, and such means of communication shall be made available to each Member in connection with each annual or special meeting of the Members.  A Member so participating is deemed to be present in person at the meeting.
(e)    The presence of Members holding a majority of the Voting Units at a meeting is necessary for a quorum.  Except as provided in Section 7.1(e), any action proposed to be taken by the Members shall be approved upon the affirmative vote of holders of a majority of the Voting Units represented at the meeting.
(f)    Any action required or permitted to be taken at a meeting of the Members may be taken without such meeting, without prior notice and without a vote, by written consent, setting forth the action so taken, signed by holders of a majority of the Voting Units consented to in writing.
Section 7.6    Officers.
(a)    Except as set forth on Exhibit B, in this Agreement, or in any employment or other applicable agreement, the Board, in its sole discretion, may designate and appoint one or more Officers on the terms and conditions set forth herein or on such other terms and conditions that the Board, in its sole discretion, may determine from time to time (including, but not limited to, any 

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addition, restriction or other modification to any power, duty and/or responsibility set forth in this Section 7.6).  No Officer may act as a Partnership Representative or have any power, right, duty or obligation of a Partnership Representative, in whole or in part, unless such Officer meets the qualifications for a Partnership Representative and is explicitly designated and appointed as such by the Board.
(b)    The Chairman of the Board (the “Chairman”) shall preside at all meetings of the Members and the Board and shall see that the orders and resolutions of the Board are carried into effect.
(c)    Subject to the powers and oversight of the Board and the Chairman, the chief executive officer (the “Chief Executive Officer”) shall have general charge of the Company’s business, affairs and property (including, but not limited to, responsibility for the Company’s day-to-day operations of the Company and control over its Officers, agents and employees) and shall see that all orders and resolutions of the Board are carried into effect.  The Chief Executive Officer shall execute bonds, mortgages and other contacts requiring a seal, under the seal of the Company, except where required or permitted by law to be otherwise signed and executed and except where the signing and execution thereof shall be expressly delegated by the Board to some other Officer.  Whenever the President is unable to serve, by reason of sickness, absence or otherwise, the Chief Executive Officer shall perform all the duties and responsibilities and exercise all the powers of the President.
(d)    Subject to the powers of the Board and the Chairman and the terms, the president (the “President”) shall devote such time and attention as is necessary to discharge the responsibilities of the office of the President.  The President may execute contracts in the name of the Company and appoint and discharge agents and employees of the Company.  The President may sign, with the secretary, assistant secretary, treasurer or assistant treasurer, certificates (if any) for any Membership Interest, and may sign any policies, deeds, mortgages, bonds, contracts, or other instruments that the Board has authorized to be executed except in cases where the signing and execution thereof shall be expressly delegated by the Board or by this Agreement to some other Officer, or shall be required by law to be otherwise signed or executed. 
(e)    In the absence of the Chief Executive Officer and the President or in the event of the Chief Executive Officer’s or President’s inability or refusal to act, a vice-president (each, a “Vice President”) (if there be any or in the event there be more than one Vice-President, the Vice-Presidents in the order designated, or in the absence of any designation, then in the order of their election) shall perform the duties of the Chief Executive Officer or President, and when so acting, shall have all the powers of and be subject to all the restrictions upon the Chief Executive Officer or President.
(f)    The secretary (the “Secretary”) shall attend all meetings of the Board and all meetings of the Members and record all the proceedings of the meetings of the Company and of the Board in a book to be kept for that purpose and shall perform like duties for the standing committees when required.  The Secretary shall give, or cause to be given, notice of all meetings of the Members and special meetings of the Board.  The Secretary shall have custody of the Company’s seal (if any), and the Secretary shall have authority to affix the same to any instrument 

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requiring it and when so affixed, it may be attested by the Secretary’s signature.  The Board may give general authority to any other Officer to affix the Company’s seal (if any) and to attest the affixing by the Secretary’s signature.
(g)    The treasurer (the “Treasurer”) shall have the custody of the Company’s funds and shall keep full and accurate accounts of receipts and disbursements in books belonging to the Company and shall deposit all moneys and other valuable effects in the name and to the credit of the Company in such depositories as may be designated by the Board.  The Treasurer shall disburse the funds of the Company as may be ordered by the Board, taking proper vouchers for such disbursements, and shall render to the Board, at its regular meetings, or when the Board so requires, an account of all transactions as Treasurer and of the financial condition of the Company.
Section 7.7    Limitation on Authority of Members.  Notwithstanding anything to the contrary in the Act, no Holder in his capacity as a Holder shall have the authority to bind the Company.  No Holder is an agent of the Company solely by virtue of being a Holder, and no Holder has authority to act for the Company solely by virtue of being a Holder.  Any Holder who takes any action that binds the Company in violation of this Agreement shall be solely responsible for any loss and expense incurred by the Company as a result of the unauthorized action and shall indemnify and hold the Company harmless with respect to the loss or expense.
ARTICLE VIII
EXCULPATION AND INDEMNIFICATION
Section 8.1    Exculpation.
(a)    Except as otherwise provided herein, to the maximum extent permitted by the Delaware Act, no Person who is or was a Manager or Officer or any of such Person’s respective Affiliates, heirs, successors, assigns, agents or representatives shall be liable to the Company or to any Holder for any act or omission performed or omitted by such Person in such Person’s capacity as a Manager or Officer or otherwise taken in good faith; provided that, except as otherwise provided herein, such limitation of liability shall not apply to the extent it shall have been finally adjudicated that such Person (i) did not act in good faith and in a manner that such Person reasonably believed to be in the best interest of the Company, (ii) was either grossly negligent or engaged in willful malfeasance, (iii) breached this Agreement in any material respect, or (iv) violated any material law.  A Manager or Officer shall be entitled to rely upon the advice of legal counsel, independent public accountants and other experts, including financial advisors, and any act of or failure to act by such Manager or Officer in good faith reliance on such advice shall in no event subject such Manager or Officer or any of their respective Affiliates, heirs, successors, assigns, agents or representatives to liability to the Company or any Holder.
(b)    Notwithstanding anything to the contrary contained herein, whenever in this Agreement or any other agreement contemplated herein or otherwise, a Manager is permitted or required to take any action or to make a decision in its “sole discretion” or “discretion” or that it deems “necessary,” “necessary or appropriate,” “necessary or desirable” or “necessary, appropriate or advisable,” or under a grant of similar authority or latitude, such Manager shall, to the fullest extent permitted by applicable law, make such decision in its sole discretion (regardless of whether 

25

there is a reference to “sole discretion” or “discretion”), shall be entitled to consider such interests and factors as it desires (including the interests of a Holder with which a Manager may be affiliated), and shall have no duty or obligation (fiduciary or otherwise) to give any consideration to any interest of or factors affecting the Company, its Affiliates or the Holders, and shall not be subject to any other or different standards imposed by this Agreement, any other agreement contemplated hereby, under the Delaware Act or under any other applicable law or in equity.
(c)    Whenever in this Agreement a Manager is permitted or required to take any action or to make a decision in its “good faith” or under another express standard, such Manager shall act under such express standard and, to the extent permitted by applicable law, shall not be subject to any other or different standards imposed by this Agreement or any other agreement contemplated herein, and, notwithstanding anything contained herein to the contrary, so long as such Manager believes that the action taken or the decision made is in or not opposed to the best interests of the Company, the resolution, action or terms so made, taken or provided by such Manager shall not constitute a breach of this Agreement or any other agreement contemplated herein or impose liability upon such Manager or any of its Affiliates, heirs, successors, assigns, agents or representatives.
(d)    To the maximum extent permitted by applicable law, except as provided and subject to Section 7.7, each Holder hereby waives any claim or cause of action against a Person who is or was a Manager (other than when acting solely in the capacity of an employee of the Company) or any of such Person’s Affiliates, heirs, successors, assigns, agents and representatives for any breach of any fiduciary duty to the Company or its Holders by such Person, including as may result from a conflict of interest between the Company or any of its Affiliates and such Person, and any liability for breach of fiduciary duties as a Manager (other than when acting solely in the capacity of an employee of the Company) is hereby eliminated to the fullest extent permitted by applicable law.  Subject to compliance with the express terms of this Agreement, a Person who is or was a Manager (other than when acting solely in the capacity of an employee of the Company) shall not be obligated to recommend or take any action as a Manager that prefers the interests of the Company or the other Holders over the interests of such Person (or the interest of a Holder with which such Person is affiliated) or its Affiliates, heirs, successors, assigns, agents or representatives.
Section 8.2    Indemnification.
(a)    To the fullest extent permitted by law, the Company shall indemnify and hold harmless any Person that was or is a party or is threatened to be made a party to any Proceeding, by reason of the fact that such Person is or was an Indemnitee, against any loss, damage, liability or expense (including reasonable attorneys’ fees, costs of investigation and amount paid in settlement) incurred by or imposed upon the Indemnitee in connection with such Proceeding. 
(b)    The Company shall pay the expenses incurred by an Indemnitee in defending any Proceeding, or in opposing any claim arising in connection with any potential or threatened Proceeding, in each case for which indemnification may be sought pursuant to this Section 8.2, in advance of the final disposition thereof, upon receipt of a written undertaking by such Indemnitee to repay such payment if it shall be determined that such Indemnitee is not entitled to indemnification under this Section 8.2 with respect to such Proceeding.

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(c)    The rights to indemnification and advancement of expenses conferred in this Section 8.2 shall (i) not be exclusive of any other right which any Indemnitee may have or hereafter acquire under any law, statute, rule, regulation, charter document, by-law, contract or agreement and shall inure to the benefit of the executors, administrators, personal representatives and successors of each such Indemnitee and (ii) continue as to an Indemnitee even if such Indemnitee is not or ceases to be a Holder, Member, Manager, or Officer.
(d)    Rights and benefits conferred on an Indemnitee under this Section 8.2 shall be considered a contract right and shall not be retroactively abrogated or restricted without the written consent of the Indemnitee affected by the proposed abrogation or restriction.
(e)    The Company, at the sole discretion of the Board, may indemnify and advance expenses to a non-Officer employee or agent of the Company to the same extent and subject to the same conditions under which it may indemnify and advance expenses to an Indemnitee under Section 8.2.
(f)    Recourse by an Indemnitee for indemnity under Section 8.2(a) shall be only against the Company as an entity and no Member shall by reason of being a Member be liable for the Company’s obligations under Section 8.2(a) or Section 8.2(c).
(g)    Notwithstanding anything to the contrary in this Agreement or applicable law, an Indemnitee shall not have any right or benefit under this Section 8.2 or any other right to indemnification or reimbursement under this Agreement or applicable law with respect to a Proceeding if:
(i)    the Indemnitee is or was a plaintiff in the Proceeding for which indemnification is being sought under this Section 8.2 (other than a Proceeding brought and maintained solely for the purpose of obtaining indemnification under this Section 8.2); or
(ii)    it shall have been finally adjudicated that such Indemnitee (A) did not act in good faith and in a manner that such Indemnitee reasonably believed to be in the best interest of the Company, (B) was either grossly negligent or engaged in willful malfeasance, (C) breached this Agreement in any material respect, or (D) violated any material law applicable or relating to the Company or any of its Affiliates.
(h)    If this Section 8.2 or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify and hold harmless each Person otherwise entitled to indemnification under this Section 8.2 to the full extent permitted by any portion of this Section 8.2 that shall not have been invalidated.
ARTICLE IX
BOOKS AND RECORDS
Section 9.1    Books and Records.  Proper and complete books and records of the Company, in which shall be entered fully and accurately the transactions of the Company, shall be 

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kept and maintained at all times at the principal offices of the Company or, subject to the provisions of the Delaware Act, at such other place as the Board may from time to time determine.
Section 9.2    Bank Accounts.  Funds of the Company shall be used only for Company purposes and shall be deposited in such accounts in banks or other financial institutions as may be established from time to time by the Board.  Withdrawals shall be made by such Persons as are designated from time to time by the Board.
ARTICLE X
TRANSFERS
Section 10.1    Restrictions on Transfers.  No Person shall Transfer any Membership Interest without the prior written consent of the Digirad Manager, which consent shall be at the sole discretion of the Digirad Manager.  A Transfer of a Membership Interest shall remain subject to Section 6.8, Section 10.2 and Article XIII, without regard to the consent of the Digirad Manager to such Transfer.  
Section 10.2    Other Transfer Conditions, Restrictions and Requirements.
(a)    In the event of a Transfer of any Membership Interest, the Transferee of the Membership Interest shall take and hold such Membership Interest subject to this Agreement, shall assume all of the obligations arising under the Agreement (including, but not limited to, an obligation set forth in Section 6.8) or applicable law of the Transferor of the Membership Interest, and otherwise shall comply with this Agreement.   Without any limitation on the foregoing, unless and to the extent admitted as a Member in accordance with this Agreement, a Holder shall not have any right to vote or consent or otherwise participate in management.
(b)    Notwithstanding anything in this Agreement to the contrary, no Transfer of a Membership Interest shall be permitted and any such purported Transfer shall be void ab initio, and no Transferee of a Membership Interest shall be admitted to the Company as a Member, if (i) such Transfer violates any provision of this Agreement or (ii) the Transferee of such Membership Interest does not agree in writing to be bound by all of the provisions of this Agreement (such writing to be in form and substance reasonably satisfactory to the Digirad Manager) or fails to execute or provide any document required or requested by the Digirad Manager.
Section 10.3    Termination of Status.  Upon a Transfer (other than a Transfer in the nature of a pledge, mortgage, lien or other encumbrance in the nature of a security interest) of all of a Holder’s Membership Interest in a Transfer permitted by this Agreement, such Holder, if admitted as a Member, shall cease to be a Member, and all rights of such Holder as a Member or Holder shall terminate, except that Section 6.8, Article VIII and the representations and warranties made by such Member or Holder under Section 12.1, together with any other provisions of this Agreement necessary or ancillary to implementation of any of the foregoing provision, shall survive such termination.
ARTICLE XI
WITHDRAWAL AND DISSOLUTION

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Section 11.1    Withdrawal.  No Holder shall have the power or right to withdraw or otherwise resign from the Company prior to the dissolution and winding up of the Company pursuant to this Article XI without the prior written consent of the Digirad Manager (which consent may be withheld by the Digirad Manager in its sole discretion), except that, upon a Transfer (other than a Transfer in the nature of a pledge, mortgage, lien or other encumbrance in the nature of a security interest) of all of a Holder’s Membership Interest in a Transfer permitted by this Agreement, and subject to Section 6.8, such Holder shall cease to be a Holder.  Notwithstanding that payment on account of a withdrawal may be made after the effective time of such withdrawal, subject to Section 6.8, any completely withdrawing Holder will not be considered a Holder for any purpose after the effective time of such complete withdrawal, and, in the case of a partial withdrawal, such Holder’s Capital Account (and corresponding voting and other rights) shall be reduced for all other purposes hereunder upon the effective time of such partial withdrawal.
Section 11.2    Events of Dissolution.  The Company shall be dissolved and its affairs shall be wound up on the first to occur of the following:
(a)    the consent of Members owning more than fifty percent (50%) (as determined without regard to any quorum or other similar requirement) of the Voting Units;
(b)    the entry of a decree of judicial dissolution of the Company under the Delaware Act; or
(c)    the sale of all or substantially all of the Company’s assets.
Section 11.3    Liquidating Distributions.  Upon the dissolution and winding-up of the Company, the assets shall be distributed as follows:
(a)    First, to creditors, including Holders who are creditors, to the extent permitted by law, in the order of priority as provided by law to satisfy the liabilities of the Company whether by payment or by the establishment of adequate reserves, excluding liabilities for distributions to Holders pursuant to Article V; and
(b)    Thereafter, the remaining assets will be distributed in accordance with Section 5.1.
Section 11.4    Conduct of Winding-Up.  The winding-up of the business and affairs of the Company shall be conducted by the Board except as otherwise required by law.
Section 11.5    Deficit Capital Accounts.  Notwithstanding any custom or rule of law to the contrary, to the extent that any Holder has a deficit Capital Account balance, upon dissolution of the Company such deficit shall not be an asset of the Company and no Holder shall be obligated to contribute such amount to the Company to bring the balance of any Holder’s Capital Account to zero.

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ARTICLE XII
REPRESENTATIONS, WARRANTIES,  
AGREEMENTS AND OTHER MATTERS
Section 12.1    Holder Representations.  In connection with the acquisition and/or ownership of any Membership Interest, the Person acquiring the Membership Interest represents and warrants to the Company and agrees and acknowledges that:
(a)    any Membership Interest acquired by or for such Person is and shall be acquired solely for such Person’s own account, for investment purposes only and not with a present view toward the distribution thereof and not with any present intention of distributing or reselling any such Membership Interest; provided that, irrespective of any other provisions of this Agreement, any Transfer of such Membership Interest by such Person shall be made only in compliance with all applicable federal and state securities laws, including, without limitation, the Securities Act;
(b)    any Membership Interest acquired by or for such Person is not registered under the Securities Act nor qualified nor registered under state law and must be held by such Person until such Membership Interest or any successor security is so registered or qualified for an exemption from such registration or qualification is available; neither the Company nor any Member or Manager shall have any obligation to take any action to cause any Membership Interest to be registered under the Securities Act or qualified or registered under state law or to qualify any Membership Interest for an exemption from such registration or qualification; and the Company shall give to the party responsible for recording Transfers of Membership Interest or successor securities “stop transfer” directions prohibiting Transfers in violation of the foregoing provisions of this Section 12.1(b);
(c)    the execution, delivery and performance of this Agreement by such Person does not and shall not conflict with, violate or cause a breach of any agreement, contract or instrument to which such Person is a party or any judgment, order or decree to which such Person is subject;
(d)    such Person has no and shall not grant any proxy or become party to any voting trust or other agreement which is inconsistent with, conflicts with or violates any provision of this Agreement;
(e)    if such Person is a corporation, partnership, limited liability company, trust, custodianship, estate or other entity, this Agreement has been duly executed by a duly authorized person on its behalf and constitutes the legally binding obligation of such Person, enforceable against such Person in accordance with its terms (except to the extent that enforcement may be affected by laws relating to bankruptcy, reorganization, insolvency and creditors’ rights generally and by the availability of injunctive relief, specific performance and other equitable remedies);
(f)    such Person has carefully reviewed this Agreement, has had the opportunity to ask questions and receive answers concerning such agreement and fully understands the provisions contained herein;

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(g)    with respect to the Tax and other consequences of acquiring, receiving, owning, holding, and disposing of any Membership Interest and the income and proceeds thereof, with the exception of such written opinions as may be given to a Person or for its benefit by counsel representing another Person or the Company, such Person is relying solely on its own Tax and other counsel and advisors and is not relying on the Company, or any person other than Person’s own counsel and advisors;
(h)    such Person is a “United States person” within the meaning of Code Section 7701(a)(30) (or a disregarded entity of such a United States person) and, with respect to any allocation or distribution under or any transaction contemplated by this Agreement, neither the Company, any Manager, any Officer, nor any Affiliate of any of the foregoing is or will be required to withhold or pay any Tax under Code Section 1445, Code Section 1446 or any other provision of any Tax law (other than the withholding or estimated payment of any state income Tax) with respect to or on behalf of such Person; and
(i)    such Person is not a “tax-exempt entity” within the meaning of Code Section 168(h)(2)(A).
ARTICLE XIII
MISCELLANEOUS
Section 13.1    Counsel Clause.  Each of the Company, each Holder and each Manager acknowledge that Counsel represents Digirad Corporation in connection with the preparation or negotiation of this Agreement. 
Section 13.2    Amendment of Agreement.  This Agreement may be amended by the Company with the written consent of Members owning more than fifty percent (50%) (as determined without regard to any quorum or other similar requirement) of the Voting Units, provided that in no event shall any amendment materially and adversely affect the economic or non-economic rights or obligations of any one Member without the prior written consent of such Member unless such amendment materially and adversely affects the same rights and obligations of all Members and in the same proportionate manner, except that any amendment which would require additional capital contributions from a Member shall require such Member’s prior written consent.
Section 13.3    Remedies.  In any action to enforce this Agreement or to seek damages on account of any breach hereof, the prevailing party shall be entitled to reimbursement for its costs of collection (including reasonable attorneys’ fees and expenses).  No remedy conferred upon any party to this Agreement is intended to be exclusive of any other remedy herein or by law provided or permitted, but each such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute.
Section 13.4    Waiver.  None of the terms of this Agreement shall be deemed to have been waived by any party hereto, unless such waiver is in writing and signed by that party.  The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement or any further breach of the provision so waived.

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Section 13.5    Notices.  
(a)    All notices and other communications which are required or permitted to be given under this Agreement shall be in writing and shall be delivered personally or by certified mail (return receipt requested), or telecopied (during normal business hours) and addressed, if to a Holder, to such Holder or such Holder’s personal representative at such Holder’s last address known as disclosed on the records of the Company, to the address set forth on Exhibit A or to such other address as any of the above shall have specified by notice hereunder.  Each notice or other communication shall be deemed sufficiently given, served, sent, received or delivered for all purposes at such time as it is delivered to the addressee (with the return receipt, the delivery receipt or the affidavit of messenger being deemed conclusive, but not exclusive, evidence of such delivery) or at such time as delivery is refused by the addressee upon presentation.  
(b)    Each Holder shall be required to keep a current address on file with the Company at all times such Holder is a Holder, and for five years following such Holder’s withdrawal from the Company.  Each Holder shall indemnify and hold harmless the Company and the other Holders from and against any liability arising out of the failure to comply with this Section 13.5(b).
Section 13.6    Entire Agreement.  This Agreement contains the entire agreement, and supersedes all prior agreements and understandings and arrangements, oral or written, among the parties hereto with respect to the subject matter hereof.
Section 13.7    Binding Effect; Benefits.  All of the terms and provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective legal representatives, successors and permitted assigns.
Section 13.8    Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be unenforceable or invalid under applicable law, such provision shall be ineffective only to the extent of such unenforceability or invalidity (and for purposes only of such applicable law), and the remaining provisions of this Agreement shall continue to be binding and in full force and effect.
Section 13.9    Headings.  The section and other headings contained in this Agreement are for convenience only and shall not be deemed to limit, characterize or interpret any provisions of this Agreement.
Section 13.10    No Strict Construction.  The parties hereto jointly participated in the negotiation and drafting of this Agreement.  The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their collective mutual intent.  This Agreement shall be construed as if drafted jointly by the parties hereto, and no rule of strict construction shall be applied against any Person.
Section 13.11    Interpretation.  As used in this Agreement, each of the masculine, feminine and neuter genders shall be deemed to import the others whenever the context so indicates or requires.  Terms defined in the singular have a comparable meaning when used in the plural and 

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vice versa.  Terms defined in the present tense shall have a comparable meaning when used in the past or future tense and vice versa.  Terms defined as a noun shall have a comparable meaning when used as an adjective, adverb, or verb and vice versa.  Whenever the term “include” or “including” is used in this Agreement, it shall mean “including, without limitation,” (whether or not such language is specifically set forth) and shall not be deeded to limit the range of possibilities to those items specifically enumerated.  Unless otherwise limited, the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision.
Section 13.12    Counterparts.  This Agreement may be executed in any number of counterparts, and by facsimile, pdf or other electronic method, each of which shall be effective only upon delivery and thereafter shall be deemed to be an original, and all of which shall be taken to be one and the same instrument with the same effect as if each of the parties hereto had signed the same signature page.
Section 13.13    Governing Law.  This Agreement and the rights of the parties hereunder shall be construed and interpreted in accordance with the laws of the State of Delaware applicable to agreements made and to the performance wholly within that jurisdiction.
Section 13.14    Jurisdiction and Venue.  Each party hereto irrevocably submits to the exclusive jurisdiction of any state or federal court within the State of Delaware with respect to any cause or claim arising under or relating to this Agreement.  Each party hereto irrevocably consents to the service of process by registered mail or personal service, irrevocably waives any objection based on forum non conveniens with respect to such a court, and irrevocably waives any objection to venue of such court.
[SIGNATURES APPEAR ON FOLLOWING PAGE]

33

IN WITNESS WHEREOF, the parties hereto have executed this Limited Liability Company Agreement as of the date first above written.
	
						
	“COMPANY”
	“MEMBERS”

	 
	 

	STAR PROCUREMENT, LLC
	DIGIRAD CORPORATION

	 
	 

	 
	 

	 
	 

	By:
	/s/David J. Noble
	By:
	/s/Matthew G. Molchan

	Name:
	David J. Noble
	Name:
	Matt Molchan

	Title:
	Manager
	Title:
	CEO

	
						
	 
	 

	 
	 

	 
	ATRM HOLDINGS, INC.

	 
	 

	 
	 

	 
	 

	 
	 
	By:
	/s/Daniel M. Koch

	 
	 
	Name:
	Daniel M. Koch

	 
	 
	Title:
	President & CEO

S-1

EXHIBIT A

	
				
	 	Holder Name & Address
	Units
	Capital Contribution

	 
	 	DIGIRAD CORPORATION
1048 Industrial Court
Suwanee, Georgia 30024
	50
	$1,000,000

	 	ATRM HOLDINGS, INC.
5215 Gershwin Avenue, N.
Oakdale, MN 55128

	50
	0

	 	TOTAL
	

100
	$1,000,000

    

EXHIBIT B 

Managers on the Board (as per Section 7.1(b)):
David Noble (the “Digirad Manager”)
Stephen Clark (the “ATRM Manager”)

Partnership Representative:
An individual designated by Digirad Corporation.
(Optional) In the case of any State Tax:
An individual designated by Digirad Corporation.

EXHIBIT C

Services Agreement

SERVICES AGREEMENT
This SERVICES AGREEMENT (this “Agreement”), effective as of January 2, 2019 is entered into by and among STAR PROCUREMENT, LLC, a Delaware limited liability Company (the “Company”) and KBS Builders, Inc. a Delaware Corporation (“KBS”). The Company and KBS are sometimes are referred to in this Agreement collectively as the “Parties” and individually as a “Party”.  Capitalized terms used in this Agreement but not otherwise defined in this Agreement will have the meanings set forth in the LLC Agreement (defined below).

RECITALS

WHEREAS, ATRM Holdings, Inc., a Minnesota corporation (“ATRM”) and Digirad Corporation, a Delaware corporation (“Digirad”) are the sole members of the Company, and together with the Company are parties to that certain Limited Liability Company Agreement of the Company dated the date hereof (the “LLC Agreement”); and

WHEREAS, the Company was formed for purposes of creating a joint venture in which the Company will purchase and sell building materials and related goods and entry into this Agreement.

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing and the representations, warranties, covenants and agreements contained in this Agreement, and intending to be legally bound hereby, the Parties agree as follows:

1.    DEFINITIONS
1.1    “Services” means the services, functions, and tasks to be provided by the Company to KBS pursuant to this Agreement as described in the Service Schedule, as such services, functions and tasks may be changed or supplemented pursuant to the terms of this Agreement.
1.2    “Service Schedule” means a Schedule to this Agreement, describing (among other things) the particular Services being provided and the timing for such Services.
		
	2.
	SERVICES

2.1    Performance of Services.  Subject to the other terms and conditions of this Agreement, KBS hereby grants the Company the right of first refusal to provide the Services to KBS (and, as necessary, its subsidiaries) during the Term (defined below) in accordance with and subject to the terms and conditions of this Agreement.  Upon the mutual written agreement of the Parties, the Parties may modify the Services described on the existing Service Schedule or add additional Services to be performed by the Company.  The Company has no obligation to provide any services other than the Services.  

1

2.2    First Refusal Right.  KBS shall provide written notice to the Company containing all of the terms and conditions of the required Services (a “Service Notice”), and the Company shall be entitled to provide such Services on such (or better) terms and conditions.  If the Company intends to exercise its first refusal right, it must deliver to KBS a commitment (a “Service Commitment”) to do so as soon as practicable and in no event later than thirty (30) days after receipt of the Service Notice from KBS or its subsidiaries.  If the Company fails to provide a Service Commitment within the 30-day period or waives its first refusal right prior to that time, then KBS will be free to obtain such Services from any third party.  All Services to be provided by the Company pursuant to this Agreement shall be provided by the Company in its sole discretion.
2.3    Affiliates and Subcontractors.  The Company may use personnel of its Affiliates, or engage, consistent with past practice, the services of third parties to provide or assist the Company (or its Affiliates) to provide the Services.
2.4    Standard of Performance.  Notwithstanding anything to the contrary in this Agreement, KBS understands and agrees that the standard of performance to which the Company and its Affiliates will be accountable under this Agreement will be to achieve a comparable level of service as KBS achieved with respect to the Services during the twelve (12) months prior to the date hereof.
2.5    Additional Resources and Consents.  Notwithstanding anything to the contrary in this Agreement, the Company shall not be required to perform any Service if doing so would require the Company to violate any law or breach any contract by which the Company or its Affiliates are bound.  In addition and without limiting the foregoing, if the Company reasonably believes that performance of a particular Service requires the Company to obtain any third-party licenses or consents, or any software, technology or other goods, services or materials not already in the Company’s possession, then the Company shall promptly inform KBS, and KBS shall cooperate with the Company to obtain such licenses, consents or other or items at KBS’s sole expense if so requested by KBS.  If KBS does not agree to pay the costs associated with obtaining such licenses, consents or other items, the Company shall be under no obligation to obtain such licenses, consents or other or items.
2.6    Cooperation.  In order to enable the Company to perform the Services, KBS shall provide the Company with such cooperation and assistance (including access to employees) as is reasonably necessary for the Company or its Affiliates or contractors to timely perform the Services, as well as such other cooperation and assistance as the Company reasonably requests in connection with the provision of the Services hereunder.
2.7    Employees.  The Parties agree that the employees and contractors of the Company providing the Services are the employees and contractors of the Company alone, and are not the employees or contractors of KBS for any purpose whatsoever.

2

		
	3.
	PAYMENT TERMS

3.1    Fees and Costs.  
(a)    Unless otherwise set forth in the Service Schedule, KBS shall reimburse the Company, on a monthly basis in accordance with Section 0, for the Company’s actual cost (excluding the Materials Purchase Amounts (defined below)) in providing the Services (the “Service Fees”).
(b)    Unless otherwise set forth in the Service Schedule, KBS shall pay the Company for all Building Materials, on a monthly basis in accordance with Section 0, a purchase price equal to the full cost of Building Materials (as defined in the Service Schedule) (excluding any Service Fees) during such period, plus 3% of the cost of such Building Materials. The amount(s) payable pursuant to this Section 3.1(b) is referred to herein as the “Materials Purchase Amount(s).”
3.2    Invoicing and Payment.  Each calendar month during the Term, the Company shall issue to KBS an invoice for the amount of the Service Fees and the Materials Purchase Amounts payable to Company for the Services rendered during that month.  KBS shall pay the amount invoiced by the Company within thirty (30) days after receipt thereof.  All payments made pursuant to this Section 3.2 must be made in U.S. Dollars, by wire transfer of immediately available funds to the bank account previously designated by the Company to KBS.  The amount of any due but unpaid Service Fees and Materials Purchase Amounts shall bear interest from and including the due date of such fees to, and including, the date of payment at a rate per annum equal to 5%.  Such interest shall be calculated daily on the basis of a 365-day year and the actual number of days elapsed, without compounding
3.3    Taxes.  The fees for Services provided pursuant to this Agreement exclude all excise, sales, use, gross receipts, value added, goods and services or similar transaction or revenue-based taxes (excluding any income Taxes) applicable to the provision of the Services and imposed by any federal, state, or local taxing authority (such taxes, together with any applicable interest, penalties, or additions to tax imposed with respect to such taxes, “Taxes”), and KBS shall be responsible for payment of all such Taxes.
3.4    Expenses.  Except as otherwise expressly provided in this Agreement, each Party shall bear its own costs and expenses incurred in the performance of this Agreement.
		
	4.
	PROPRIETARY RIGHTS.  This Agreement and the performance of this Agreement will not affect the ownership of any intellectual property rights.  No Party will gain, by virtue of this Agreement, any rights of ownership of any rights related to the intellectual property owned by any other Party.

		
	5.
	CONFIDENTIALITY.  Each Party shall keep any confidential or proprietary information of the other Party acquired pursuant to or in connection with this Agreement strictly confidential.

3

6.    INDEMNIFICATION; LIMITATIONS OF LIABILITY
6.1    Indemnification.  Each Party agrees to protect, defend, indemnify and hold harmless each other Party from and against any and all losses, claims, suits and actions (whether threatened or pending) arising out of or related to any (a) breach of any covenant or obligation of such Party contained in this Agreement or (b) negligence or willful misconduct of such Party or its employees or agents in connection with the performance of the Services hereunder.  The rights to indemnification hereunder shall be in addition to any rights to indemnification that a Party may have under the LLC Agreement.
		
	7.
	TERM AND TERMINATION

7.1    Term of Agreement.  The term of this Agreement begins on the date hereof and will continue until terminated in accordance with the terms hereof (the “Term”).
7.2    Termination of Service.  This Agreement shall automatically terminate upon the dissolution and winding-up of the Company pursuant to the LLC Agreement, or upon the written agreement of all Parties to the termination of this Agreement or the Services.  If a Party breaches this Agreement, the other Party may terminate upon 30 days prior written notice if such breach is not cured.
7.3    Effect of Termination.  Upon expiration or termination of this Agreement for any reason, the Company shall no longer be obligated to provide the terminated Services, and KBS shall no longer be obligated to pay for such Services, except with respect to any Service Fees and Materials Purchase Amounts incurred up to the date of termination or expiration (all such fees, including any applicable late fees, will become immediately due and payable by KBS to the Company upon the effective date of such termination).  
7.4    Survival.  The following provisions of this Agreement will survive its termination or expiration: Sections 1, 3 (with respect to Services performed prior to termination or expiration), 4, 5, 6, 7.3, 7.4 and 8.
		
	8.
	MISCELLANEOUS. 

8.1    Notices. Any and all notices, requests, demands or other communications required to be given pursuant to this Agreement by any Party shall be in writing and shall be validly given or made to the applicable Party if served personally, by overnight mail, by nationally recognized overnight courier or sent by electronic mail, receipt confirmed. If the notice, request, demand or other communications are served personally, service shall be conclusively deemed made at the time of service. If the notice, request, demand or other communications are sent by electronic mail, service shall be conclusively deemed made the first (1st) business day following successful transmission or upon confirmation of receipt from the recipient. If the notice, demand or other communications are given by overnight mail, service shall be conclusively deemed made one (1) business day after sent in the United States mail, addressed to the applicable Party to whom the notice, demand or other communication is to be given, and when received if delivered by hand or 

4

overnight courier service on any business day. Notices shall be provided to the following addresses (any of which may be changed upon like notice to the other Parties):
If to KBS to:
KBS BUILDERS, INC. 
300 Park St. 
South Paris, ME 04281 
Attention:  Matt Mosher 
Telephone: (207) 744-0402 
Fax:  (207) 739-2223 
Email: mmosher@kbs-homes.com

If to the Company to:

STAR PROCUREMENT, LLC
1048 Industrial Court
Suwanee, GA 30024
Attention:  Matthew G. Molchan
Telephone: 858-726-1600
Fax:  858-726-1700
Email: Matt.Molchan@digirad.com

8.2    Assignment. No Party may assign this Agreement or its rights or obligations hereunder, in whole or in part, voluntarily or by operation of law, without the written consent of the other Party, and any attempted assignment without such consent shall be void and without legal effect.
8.3    Amendment and Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each Party hereto. No waiver by any Party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the Party so waiving. No waiver by any Party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.
8.4    Entire Agreement. This Agreement (including the schedule attached hereto) constitute the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject matter.
8.5    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. 

5

A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.
8.6    Governing Law.  This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction).

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[REST OF THIS PAGE INTENTIONALLY LEFT BLANK]

7

IN WITNESS WHEREOF, the undersigned have caused this Services Agreement to be executed by their duly authorized representatives as of the day and year first set written above.

	
				
	 
	STAR PROCUREMENT, LLC

	 
	 

	 
	 

	 
	By:
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

	 
	 

	 
	 

	 
	KBS BUILDERS, INC.

	 
	 

	 
	 

	 
	By:
	 

	 
	 
	Name:
	 

	 
	 
	Title:
	 

8

[Signature Page to Services Agreement]

9

SERVICE SCHEDULE

		
	1.
	Services.  

KBS shall submit a Service Notice to the Company for ALL Building Materials required by KBS and is subsidiaries in the conduct of their respective businesses.

Subject to the Company’s right of first refusal set forth on Section 2.2 of the Agreement, the Company shall source and purchase from a supplier (the “Materials Supplier”) all Building Materials requested by KBS in Service Notices and arrange for such materials to be delivered directly to KBS or its subsidiaries, as directed. 

For purposes of this Agreement, “Building Materials” shall mean any and all goods, products, raw materials and similar items used to manufacture, produce, construct and/or build modular building unites (including, but not limited to, single-family homes, apartment buildings, condominiums, and other commercial structures).

		
	2.
	Additional Terms Related to Services.

KBS shall bear the risk of loss of all Building Materials upon any transfer of such risk by the Materials Supplier, even if related Materials Purchase Amounts are unpaid.  In no event shall the Company bear the risk of loss for any Building Materials.Exhibit

Portions of this Exhibit, indicated by the mark “[***]” have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to this omitted information.

Exhibit 10.22
 
EXECUTION COPY

PRIVATE LABEL BANKING PROGRAM AGREEMENT

This PRIVATE LABEL BANKING PROGRAM AGREEMENT (together with any exhibits, schedules, and attachments, collectively, this “Agreement” or the “Agreement”) is dated this 24th day of February , 2017 (the “Effective Date”) and is by and between T- MOBILE USA, INC., a corporation organized and existing under the laws of Delaware, with offices located at 12920 SE 38th Street, Bellevue, Washington 98006-1250 (“Company”), and CUSTOMERS BANK, a Pennsylvania state-chartered banking institution with a mailing address of 99 Bridge Street, Phoenixville, Pennsylvania 19460 (“Bank”). Company and Bank are collectively referred to as the “Parties” and are individually referred to as a “Party.”

RECITALS

		
	(a)
	Bank is a Pennsylvania chartered, FDIC-insured banking institution and member of the Federal Reserve System that, among other things, offers a variety of banking services to consumers.

		
	(b)
	Company is a wireless telecommunications company, which provides communications and other services and products to consumers.

		
	(c)
	Bank and Company desire to collaborate in developing, marketing, and offering the T- Mobile Financial Services to Company’s customers, and Bank desires to provide the T- Mobile Financial Services to Company’s customers (collectively, the“Program”).

TERMS OF AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants and conditions hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto, intending to be legally bound, agree as follows:

1.CERTAIN DEFINITIONS. Capitalized terms used herein shall have the meanings ascribed to such terms in this Section 1 or in the body of this Agreement and such meanings shall be applicable to both the singular and the plural forms of such terms.

(a)    “Account Agreement” means, collectively, the agreement(s) between Bank and a Customer governing the terms and use of a T-Mobile Customer Account or a Card and all related disclosures as may be required by Applicable Law or deemed necessary by Bank.

(b)    “Account Terms and Conditions” has the meaning ascribed to such term in Section 3.1(a).

(c)    “Active T-Mobile Customer” means (1) a T-Mobile Customer that has made a deposit or withdrawal to a T-Mobile Customer Account in the previous three (3) months; or (2) has an open account with a balance.

		
	(d)
	“Advisory Board” has the meaning ascribed to such term in Section 15.4(c).

1

Portions of this Exhibit, indicated by the mark “[***]” have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to this omitted information.

EXECUTION COPY

		
	(e)
	“AML Program” has the meaning ascribed to such term in Section 3.2.

(f)    “Applicable Law” means, as and to the extent applicable to a Party, (i) any international, federal, state, or local law, (ii) any regulation, rule, supervisory guidance, guideline, directive, or interpretation promulgated or published by any Regulatory Authority, or (iii) any order issued by a court having jurisdiction over a Party related to the issuance, sale, authorization or usage of the Cards or services to be provided under this Agreement.

		
	(g)
	“Approval Rate” has the meaning ascribed to such term in Section 2(a) of Exhibit

D.

		
	(h)
	“ATM” means automated teller machine.

		
	(i)
	“Auditing Party” has the meaning ascribed to such term in Section 5.1(e).

		
	(j)
	“Bank FinTech” has the meaning ascribed to such term in Section 14.1.

		
	(k)
	“Bank Indemnified Party” has the meaning ascribed to such term in Section

15.1(a).

(l)    “Bank Marks” means the Bank’s Marks set forth in Exhibit 14.7, as such Marks may be modified or updated from time to time by Bank.

		
	(m)
	“Bank User Interface” has the meaning ascribed to such term in Section 14.1.

		
	(n)
	“Behavior Data” has the meaning ascribed to such term in Section 11.3.

		
	(o)
	“Beta Launch Date” has the meaning ascribed to such term in Section 6.1.

		
	(p)
	“Beta Program” has the meaning ascribed to such term in Section 10(e) of Exhibit

D.

		
	(q)
	“Beta Version” has the meaning ascribed to such term in Section 10(e) of Exhibit

D.

		
	(r)
	"Brokered Deposits" has the meaning ascribed to such term in Section 8.1(m).

		
	(s)
	“Card” shall mean a debit card, physical or virtual, or other access device issued

by Bank to a T-Mobile Customer to allow the T-Mobile Customer to access the T-Mobile Customer Account.

(t)    “Charges” means any and all charges related to services assessed against the T- Mobile Customer Accounts that are set by T-Mobile and administered by Bank.

		
	(u)
	“Claim” has the meaning ascribed to such term in Section 15.1(a).

(v)    “Company Indemnified Party” has the meaning ascribed to such term in Section 15.1(b).

2

Portions of this Exhibit, indicated by the mark “[***]” have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to this omitted information.

EXECUTION COPY

(w)    “Company Marks” means the Marks of Company set forth in Exhibit 0 and the Marks of Company for the Program, in each case, as such Marks may be modified or updated from time to time by Company.

(x)    “Company Specific User Interface” has the meaning ascribed to such term in Section 14.2.

		
	(y)
	“Confidential Information” has the meaning ascribed to such term in Section 11.1.

(z)    “Control” means the occurrence of one or more of the following events: (i) a purchase, lease, or other acquisition of all or substantially all of the assets of a party; (ii) a purchase or other acquisition (including by way of merger, consolidation, share exchange, or otherwise) of securities representing fifty percent (50%) or more of the voting power of a party; or (iii) possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract, or otherwise) of a party.

(aa)   “Customer Activation Process” has the meaning ascribed to such term in Section 10(d) of Exhibit D.

(bb)   “Deposit Account” shall have the meaning set forth in Section 3(1) of the Federal Deposit Insurance Act, 12 U.S.C. § 1813(1), including, without limitation, demand deposit accounts, certificates of deposit, savings accounts, NOW accounts, individual retirement accounts and, to the extent applicable, omnibus deposit accounts and their subaccounts (as described in Federal Deposit Insurance Corporation General Counsel’s Opinion No. 8 – Insurability of Funds Underlying Stored Value Cards and Other Nontraditional Access Mechanisms).

(cc)   “Digital Banking Platform” has the meaning ascribed to such term in Section 10 of Exhibit D.
(dd)    “Discloser” has the meaning ascribed to such term in Section 11.1.
(ee)    “Dispute” has the meaning ascribed to such term in Section 15.17(a).
(ff)    “DT” means Deutsche Telekom AG.
(gg)   “DT Marks” means the Marks of DT set forth in Exhibit 14.6, as such Marks may be modified or updated from time to time by Company.
(hh)    “Durbin-Exempt Bank” has the meaning ascribed to such term in Section 8.1(l).
(ii)    “Durbin Exemption” has the meaning ascribed to such term in Section 7.1(g).
(jj)    “FDIC” means the Federal Deposit Insurance Corporation.
(kk)    “Fee Audit” has the meaning ascribed to such term in Section 9.3.

3

Portions of this Exhibit, indicated by the mark “[***]” have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to this omitted information.

EXECUTION COPY

(ll)    “Fee Auditor” has the meaning ascribed to such term in Section 9.3. 
(mm) “Fee Audit Report” has the meaning ascribed to such term in Section 9.3.
(nn)    “Fees” means all banking revenue generated from the use of the T-Mobile Customer Accounts, including any Card usage, interchange and miscellaneous fees.
(oo)    “Force Majeure Event” has the meaning ascribed to such term in Section 15.9.
(pp)    “GLBA” has the meaning ascribed to such term in Section 11.1.
(qq)    “Implementation Fee” has the meaning ascribed to such term in Section 9.2.
(rr)    “Indemnified Party” means Bank or Company, as applicable.
(ss)    “Indemnifying Party” means Bank or Company, as applicable.
(tt)     “Initial Card Credentials” has the meaning ascribed to such term in Section 10(c) of Exhibit D.
(uu)    “Initial Term” has the meaning ascribed to such term in Section 10.1.
(vv)    “Interchange Fee Limits” has the meaning ascribed to such term in Section 7.1(g). 
(ww) “Invoice Receipt Date” has the meaning ascribed to such term in Section 9.4.
(xx)  “Issuer Network Assessment” means domestic assessments, cross-border volume fees, transaction processing fees, and other related fees, net of rebates and incentives, assessed by the payment card or ATM networks (or any similar entities) on Bank for providing transaction processing and other payment-related products and services.
(yy)  “Joint Governance Committee” has the meaning ascribed to such term in Section 15.4(a).
(zz)    “Joint Roadmap” has the meaning ascribed to such term in Section 15.4(b).
(aaa)  “Launch Date” has the meaning ascribed to such term in Section 6.1.
(bbb)  “Losses” has the meaning ascribed to such term in Section 13.3.
(ccc)  “Marks” means the trademarks, service marks, trade names, trade dress, designs, domain names, color combination, insignia, and logos (including graphic and color configurations) of a Party.
(ddd)  “Marketing Data” has the meaning ascribed to such term in Section 11.3.
(eee)  “Material Subcontractor” has the meaning ascribed to such term in Section 5.1(d).
(fff)    “Minimum Service Approval Rating” has the meaning ascribed to such term in

4

Portions of this Exhibit, indicated by the mark “[***]” have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to this omitted information.

EXECUTION COPY

Section 10.2(a)(iv).

(ggg) “Mobile Application” has the meaning ascribed to such term in Section 10(c) of Exhibit D.

(hhh) “Mobile Network Operator” means any providers of wireless services, wireless carriers, cellular companies, or mobile network carriers, including, but not limited to, Verizon, AT&T, and Sprint, in each case, including any affiliates and subsidiaries.

(iii)       “Mobile Offering” has the meaning ascribed to such term in Section 10(a) of Exhibit D.

(jjj)    “Mobile Wallets” has the meaning ascribed to such term in Section 10(c) of Exhibit
D.

(kkk) “Modified Transition Assistance Period” has the meaning ascribed to such term in
Section 10.2(b).
(lll)    “NACHA” has the meaning ascribed to such term in Section 7(a)(i) of Exhibit D. 

(mmm)“Net Interchange Fees” means the total of all interchange revenue (net of any Issuer Network Assessments) received from payment card networks in connection with the use of Cards.

(nnn) “Online Offering” has the meaning ascribed to such term in Section 10(a) of Exhibit D.
(ooo) “PINs” has the meaning ascribed to such term in Section 7(c)(iii) of Exhibit D. (ppp)  “Product and Feature Set” has the meaning ascribed to such term in Section 10(a)
of Exhibit D.

(qqq)  “Program” has the meaning ascribed to such term in the Recitals.
(rrr)    “Program Manager” has the meaning ascribed to such term in Section 15.4(a).
(sss)   “Program Team” has the meaning ascribed to such term in Section 15.4(a). (ttt)    “Recipient” has the meaning ascribed to such term in Section 11.1.
(uuu)  “Recipient Third Parties” has the meaning ascribed to such term in Section 11.2.
(vvv) “Regulatory Audit” has the meaning ascribed to such term in Section 3.4(c). 
(www) “Regulatory Authority” means, as the context requires, the Office of the Comptroller of the Currency; the FDIC; the Federal Reserve Board; the Consumer Financial Protection Bureau; the Federal Trade Commission; the Financial Crimes Enforcement Network; and any other international, foreign, federal or state regulator or agency having jurisdiction over Bank or Company.

5

Portions of this Exhibit, indicated by the mark “[***]” have been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to this omitted information.

EXECUTION COPY

(xxx) “Rejection Notice” has the meaning ascribed to such term in Section 10(e) of Exhibit D.
(yyy)    “Renewal Term” has the meaning ascribed to such term in Section 10.1.
(zzz)    “Sale Option” has the meaning ascribed to such term in Section 10.5(a).
(aaaa)  “Sale Option Notice” has the meaning ascribed to such term in Section 10.5(a).

(bbbb) “Sensitive Customer Information” has the meaning ascribed to such term in Section 11.1.

(cccc) “Service Level” has the meaning ascribed to such term in Exhibit C.

(dddd) “Solicitation Materials” means any advertising, promotional, marketing, and other similar materials describing the Program.
(eeee) “Successor Institution” has the meaning ascribed to such term in Section 10.5(a). 
(ffff)  “Supervisory Objection” means (i) an objection, verbally or in writing, raised by a Regulatory Authority having supervisory authority over Bank that expresses the Regulatory Authority’s opinion that one or more provisions of this Agreement constitute a violation of Applicable Law or is unsafe or unsound, (ii) any cease-and-desist or other similar formal written order of a Regulatory Authority, or (iii) a written directive by a Regulatory Authority to cease or materially limit performance of the obligations under this Agreement; provided, that, notwithstanding anything to the contrary, a determination by the FDIC that the T-Mobile Customer Accounts constitute Broker Deposits shall not be considered to be a Supervisory Objection for purposes of the Agreement.

(gggg) “Supervisory Objection Notice” has the meaning ascribed to such term in Section
8.1(n).

(hhhh) “T-Mobile Customer” means a customer of Company that uses the T-Mobile
Financial Services.

(iiii) “T-Mobile Customer Account” means the Deposit Account(s) of a T-Mobile Customer in connection with the T-Mobile Customer’s participation in the Program and receipt and use of the T-Mobile Financial Services that is held at Bank and that is subject to an Account Agreement between Bank and the T-Mobile Customer.

(jjjj) “T-Mobile Financial Services” means the products, services, features, and functionality set forth on Exhibit F.

(kkkk) “T-Mobile Retailer” means any Company-owned T-Mobile location and/or any T- Mobile dealer location, as determined by Company from time to time.

(llll)    “Term” has the meaning ascribed to such term in Section 10.1.

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(mmmm) “Transition Assistance Period” has the meaning ascribed to such term in Section 10.4(a).

(nnnn) “Transition Assistance Services” has the meaning ascribed to such term in Section 10.4(a).

(oooo) “Wind-Down Costs” has the meaning ascribed to such term in Section 10.3.

		
	2.
	GENERAL DESCRIPTION OF PROGRAM

2.1    Purpose. The Program established pursuant to this Agreement will allow customers of Company, through Bank’s standard and customized technology and financial products and services (including the establishment of T-Mobile Customer Accounts, the issuance of Cards and other financial products and services, as further described herein), to receive and use the T-Mobile Financial Services.

2.2    Development and Implementation of Program. Bank shall develop and implement the Program in accordance with this Agreement, including Exhibits A, B, C, D, E, F, G, H, I, and J, which exhibits are hereby incorporated into and made a part of this Agreement.

		
	3.
	MARKETING; DUTIES OF COMPANY; JOINT RESPONSIBILITIES

3.1    Marketing. Bank acknowledges that Company may promote and market the Program to prospective T-Mobile Customers from time to time. Company agrees that it will promote and market the Program in accordance with Applicable Law and this Agreement.

(a)    [***]. The terms and conditions applicable to each T-Mobile Customer Account offered pursuant to the Program shall be mutually agreed upon by Bank and Company prior to the implementation of the Program and shall be set forth in an Account Agreement between Bank and each T-Mobile Customer (as updated from time to time in accordance with this Agreement, the “Account Terms and Conditions”).  [***].  Notwithstanding the foregoing, Company acknowledges that Bank is subject to certain regulatory obligations under Applicable Law and, as such, Bank shall have final authority on certain components of the Account Terms and Conditions that implicate Applicable Law. Bank agrees that, during the Term, Bank will provide Company with the Account Terms and Conditions and with any updates or modifications to the Account Terms and Conditions promptly; provided, that, prior to implementing any updated or modified Account Terms and Conditions, Bank shall obtain Company’s approval so long as such updates or modifications are not required by Applicable Law, in which case Bank shall not be required to obtain Company’s approval.  Bank shall enter

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into an Account Agreement with each T-Mobile Customer that elects to participate in the Program, subject to Bank’s usual and customary account opening procedures. Bank represents, warrants, and covenants that the account opening procedures for T-Mobile Customers in connection with the Program will be substantially similar to the account opening procedures Bank uses for all other prospective consumer checking - and savings - account customers of Bank.

(b)    Company will submit all proposed Solicitation Materials (and ongoing changes to same) to Bank for review and written approval prior to the release or use of such Solicitation Materials in the marketplace for the purpose of allowing Bank to review such Solicitation Materials to ensure that they comply with Applicable Law with respect to financial services under this Agreement. Bank shall review any Solicitation Materials and notify Company of its decision with respect to such Solicitation Materials within a commercially reasonable period of time; provided, that for Solicitation Material less than [***], Bank will reply within [***] following Bank’s receipt of such Solicitation Materials. Bank may only reject the use of Solicitation Materials if Bank reasonably determines that such Solicitation Materials are likely to cause Bank or Company to violate Applicable Law. Company agrees that it will make any changes, on a prospective basis, in such terms, manner and conditions that the Bank deems reasonably necessary to comply with Applicable Law and Regulatory Authority guidance. In addition, Bank shall have the right to object to any Solicitation Materials that Bank believes will negatively affect Bank’s reputation, and Company agrees to consider such objection in good faith and to add a mutually agreed upon disclosure to address Bank’s specific reputational concerns. Notwithstanding the foregoing, it is expressly understood that Bank’s review and approval or rejection of the Solicitation Materials shall be for Bank’s own independent purposes and Bank’s approval of Solicitation Materials shall not constitute a certification to Company of any kind, other than to grant Company permission to use such Solicitation Materials pursuant to this Section 3.1(b). It is further understood that Bank shall have the right to withdraw approval of any previously approved Solicitation Material in the event of a change in Applicable Law or court decision related to the Solicitation Materials that adversely reflects on the Solicitation Materials or upon written or verbal direction of any Regulatory Authority with supervisory authority over Bank or the Solicitation Materials. Bank and Company shall cooperate to ensure that all Solicitation Materials comply with all applicable payment card network (e.g., Visa, Mastercard, etc.) guidelines, policies and rules.

3.2    Bank Secrecy Act Compliance.  Company will reasonably cooperate with Bank,  as mutually agreed by the Parties, in the implementation of Bank’s anti-money laundering and anti-terrorism financing compliance program (as modified from time to time, the “AML Program”) in accordance with Applicable Law, including in connection with Bank’s implementation of such commercially reasonable policies and procedures, and modifications to the Program, that may be required by Applicable Law. Company will reasonably cooperate with Bank, as mutually agreed by the Parties, in the implementation of measures to allow Bank to verify the identity of all T-Mobile Customers and prospective T-Mobile Customers consistent with Applicable Law.

3.3    Program and Compliance Training. Company shall, or shall permit Bank to, train representatives of Company that will be involved in the marketing, promotion, or implementation of the Program.  The Parties agree that the training shall be conducted

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periodically as mutually agreed by the Parties, [***].

		
	3.4
	Recordkeeping; Reporting; and Audit Rights.

(a)Bank will keep and maintain complete records reflecting the identity of each T- Mobile Customer and the steps taken to verify the identity of each T-Mobile Customer, if verification is required under Applicable Law or this Agreement. With respect to each T- Mobile Customer Account, Bank shall retain all required records for the time period required by Applicable Law and shall retain records for no less than five (5) years after the closure of a T- Mobile Customer Account or the termination of this Agreement, whichever is earlier.

(b)[***]

(ii)    Each Party reserves the right, at its own expense to inspect, copy and audit the other Party, including any records of the other Party directly relating to the other Party’s performance hereunder, including Company’s right to perform technology assessments on Bank’s technology architecture and to provide input to Bank in connection therewith. Any such audit will be conducted at mutually agreed upon times, upon reasonable prior written notice (but in no event on, less than thirty (30) business days’ written notice), and in a manner designed to minimize any disruption to the other Party’s normal business activities; provided, however, that in agreeing to times for the audit, the other Party shall be reasonable in scheduling the audit. The Parties shall reasonably cooperate and accommodate each other in connection with audit requests. The Parties agree that the audit rights hereunder will be exercised during normal business hours and no more than once in any twelve (12) month period, except that a Party shall be entitled to additional audits (but in no event more frequently than quarterly) if: (i) critical issues were identified in a previous audit (including any non-compliance with this Agreement); (ii) there is a material change to the business or financial condition of either Party; or (iii) there is a material increase in regulatory scrutiny of Bank or the Program. The Parties agree that upon the occurrence of (i), (ii) or (iii), the Parties will provide reasonable updates in connection with such issues. If a Party is entitled to conduct such additional audits pursuant to (i), (ii) or (iii) and such additional audits relate solely to a contractual issue between the Parties, the reasonable cost of such additional audits shall be borne by Bank; provided, that, Company shall not conduct an additional audit if (w) the additional audit relates to regulatory issues at Bank, (x) a Regulatory Authority is auditing Bank in connection with such regulatory issues for which Company is entitled to conduct the additional audit (such audit, a “Regulatory Audit”), (y) Bank is permitted to and does provide Company with information in connection with the Regulatory Audit, and (z) Bank keeps Company reasonably apprised of the developments in connection with the Regulatory Audit through the conclusion of such Regulatory Audit. Each Party may engage a third party to conduct an audit of the other Party in accordance with this Section 3.4(c); provided, that the Party electing to engage a third party to conduct such an audit shall

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ensure that an audit report is prepared by the third party and a copy of the audit report is made available to the audited Party.

		
	3.5
	Account Marketing Locations.

(a)Accounts may be marketed by Company [***].

(b)[***]

3.6    Company will work with Bank to develop and refine certain financial products and services, as well as technology enhancements, in connection with the Program.

3.7    [***]

3.8    [***]

3.9    Company agrees that any branding, notices or statements that are required by Applicable Law shall include the name or trademark of the Bank.

3.10    [***]

		
	4.
	REPRESENTATIONS AND WARRANTIES OF COMPANY

4.1    Representations and Warranties. Company represents and warrants to Bank as follows:

(a)    This Agreement is valid, binding and enforceable against Company in accordance with its terms, except as such enforceability may be limited by laws governing creditors’ rights and general principles of equity.

(b)    Company is a corporation duly formed, validly existing and in good standing under the laws of the State of Delaware and is duly qualified and is properly licensed to do business in each jurisdiction in which the nature of Company’s activities makes such authorization or licensure necessary. Neither the execution of this Agreement nor Company’s performance of its obligations hereunder requires any consent, authorization, approval, notice to, license, or other action by or in respect of, or filing with, any third party or any Regulatory Authority.

(c)    Company has the full power and authority to execute and deliver this Agreement and to perform all of its obligations under this Agreement.  The provisions of this Agreement

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and the performance by Company of its obligations under this Agreement are not in conflict with Company’s documents of formation or operation, or any other agreement, contract, lease or obligation to which Company is a party or by which it is bound.

(d)    Company has not been subject to the following, in each case, that would  materially adversely affect Company’s ability to exercise its rights or perform its obligations hereunder:
		
	(i)
	any criminal conviction (except minor traffic offenses and other petty offenses) in the United States of America or in any foreign country;

		
	(ii)
	any federal or state tax lien, or any foreign tax lien;

		
	(iii)
	any administrative or enforcement proceedings commenced by the Securities and Exchange Commission, any state securities regulatory authority, the Federal Trade Commission, federal or state bank regulator, or any other state or federal regulatory agency in the United States or in any other country; or

		
	(iv)
	any restraining order, decree, injunction, or judgment in any proceeding or lawsuit, alleging fraud or deceptive practice on the part of Company.

(e)    There is not pending or threatened against Company any litigation or proceeding, judicial, tax or administrative, the outcome of which might materially adversely affect the ability of the Company to perform its obligations hereunder.

		
	5.
	COVENANTS OF COMPANY

5.1    Covenants.  Company covenants and agrees with Bank as follows:

(a)Company will perform its obligations under this Agreement in accordance with Applicable Law.

(b)Subject to Section 8.1(b), Company will obtain and maintain appropriate licenses with respect to any trademarks and copyrights required for Company in connection with this Agreement.

(c)[***].

(d)Company will not, without Bank’s prior written consent, outsource or otherwise subcontract with third parties for the provision of any of its material obligations (each, a “Material Subcontractor”) in connection with the delivery of the T-Mobile Financial Services. Bank shall have the right to conduct due diligence on a Material Subcontractor at Bank’s reasonable discretion.  Bank’s review and approval of a Material Subcontractor shall not be

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unreasonably withheld, conditioned or delayed; provided, that, in any case, Bank shall review and approve or reject a Material Subcontractor within fourteen (14) days. However, any such consent of assignment of Company’s obligations hereunder shall not release Company of its obligations to Bank under this Agreement, and Company shall remain fully liable to Bank for any breach of this Agreement caused by a subcontractor or third party retained by Company. [***]. If a dispute arises in connection with the designation of a third- party service provider as a Material Subcontractor, the Parties agree that the dispute shall be referred to the Joint Governance Committee for resolution and, if the Joint Governance Committee is unable to resolve the issue, the dispute shall be referred to the Advisory Board for resolution in accordance with Section 15.4(c); provided, that, Company may use the third-party service provider during the Joint Governance Committee’s and Advisory Board’s consideration of the issue. At Bank’s request, Company shall provide, at least once annually, a list of all Material Subcontractors utilized by Company in connection with this Agreement.

(e)Company agrees that any Regulatory Authority with supervisory authority over Bank (an “Auditing Party”) shall have the right, consistent with the Regulatory Authority’s customary practices and procedures for the review of third-party relationships, [***]. Such audit, inspection or examination shall be at Bank’s sole expense (including any costs and expenses incurred by Company in connection with such audit, inspection or examination), during regular business hours of Company, on reasonable notice, and conducted in a manner so as to not interfere with Company’s normal business operations.

(f)Bank and Company will reasonably cooperate in the implementation of commercially reasonable measures designed to meet the objectives of the security and confidentiality guidelines published by various Regulatory Authorities that are applicable to Bank and the Program including, but not limited to, the implementation of appropriate policies, procedures, and other measures designed to protect against unauthorized access to or use of customer information maintained by Company in connection with the Program that could result in substantial harm or inconvenience to any T-Mobile Customer and the proper disposal of T- Mobile Customer information in connection with the Program. Company shall further  cooperate with Bank in implementing a response program in connection with the Program which may require Company to take commercially reasonable actions to address incidents of unauthorized access to T-Mobile Customer Accounts or other information, including notification to Bank and T-Mobile Customers as soon as possible following any such incident. Company shall ensure that, to the extent any third-party service provider engaged by Company has access to T-Mobile Customer Account information, such third-party service provider shall

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be obligated to safeguard such information to the same extent as Company.

(g)[***]

		
	6.
	DUTIES OF BANK

6.1    Bank shall administer the Program and provide the T-Mobile Financial Services in accordance with this Agreement (including Exhibit D). Bank shall use commercially reasonable efforts to [***]. The Parties acknowledge that the offering of the Program in [***] is subject to regulatory approval, provided, that Bank shall use best efforts to obtain such regulatory approval. The Launch Date shall be adjusted to the extent Company requests changes to the Program which result in implementation delays. For purposes of clarity, Exhibit D hereto sets forth the financial products and services that Bank must provide in connection with the Program and the terms and conditions applicable to the provision of such products and services.

6.2    In addition to Bank’s other duties and obligations under this Agreement, Bank shall be responsible for developing and maintaining the technology and operations in connection with the Program and for delivering the T-Mobile Financial Services and Cards, and shall bear all responsibility for and pay all normal expenses of the operations, except as otherwise described in this Agreement.

		
	7.
	REPRESENTATIONS AND WARRANTIES OF BANK

7.1    Representations and Warranties. Bank represents and warrants to Company as follows:

(a)    This Agreement is valid, binding and enforceable against Bank in accordance with its terms, except as such enforceability may be limited by laws governing creditors’ rights and general principles of equity.

(b)    Bank is a state bank, validly chartered and in good standing under the laws of the Commonwealth of Pennsylvania, and is duly qualified and is properly licensed to do business in each jurisdiction in which the nature of Bank’s activities, including in connection with this Program, makes such authorization or licensure necessary. Neither the execution of this Agreement nor Bank’s performance of its obligations hereunder requires any consent, authorization, approval, notice to, license, or other action by or in respect of, or filing with, any third party or any Regulatory Authority.

(c)    Bank has the full power and authority to execute and deliver this Agreement and to perform all its obligations under this Agreement.  The provisions of this Agreement and the

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performance by Bank of its obligations under this Agreement are not in conflict with Bank’s charter, bylaws or any other agreement, contract, lease or obligation to which Bank is a party or by which it is bound.

(d)    Bank is not subject to any order, judgment, decree, or any other legal or regulatory action that could impede, impair, or prevent Bank from fulfilling all of its obligations under this Agreement.

		
	(e)
	Neither Bank nor any principal of Bank has been subject to the following:

		
	(i)
	any criminal conviction (except minor traffic offenses and other petty offenses} in the United States of America or in any foreign country;

		
	(ii)
	any federal or state tax lien, or any foreign tax lien;

		
	(iii)
	any administrative or enforcement proceedings commenced by the Securities and Exchange Commission, any state securities regulatory authority, the Federal Trade Commission, federal or state bank regulator, or any other state or federal regulatory agency in the United States or in any other country; or

		
	(iv)
	any restraining order, decree, injunction, or judgment in any proceeding or lawsuit, alleging fraud or deceptive practice on the part of Bank or any principal thereof.

(f)    There is not pending or threatened against Bank any litigation or proceeding, judicial, tax or administrative, the outcome of which might materially adversely affect the continuing operations of Bank.

(g)    As of the date of this Agreement, Bank qualifies for the small issuer exemption pursuant to 12 C.F.R. § 235.5(a) (as modified or amended from time to time, the “Durbin Exemption”) and Card activity in connection with the Program is not subject to the cap on interchange fees pursuant to 12 C.F.R. § 235.3, (as modified or amended from time to time, the “Interchange Fee Limits”).

		
	8.
	COVENANTS OF BANK

8.1    Covenants. Bank covenants and agrees with Company as follows:

(a)Bank will perform its obligations under this Agreement in accordance with Applicable Law.

(b)[***].

		
	(c)
	Bank will obtain and maintain appropriate licenses with respect to any

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trademarks, copyrights and patents required or reasonably necessary for Bank in connection with this Agreement.

(d)To the extent permitted by Applicable Law, Bank will promptly give written notice to Company of any material change in the business operations (including Bank’s compliance programs) or condition, financial or otherwise, of Bank if such material change is reasonably likely to affect Bank’s ability to perform its obligations hereunder.

(e)In the event Bank receives notice of a complaint regarding the Program from any third party, including any state or federal regulator, consumer protection or advocacy agency, or other similar party, Bank shall, subject to any restrictions or provisions of Applicable Law and any obligation to maintain the confidentiality of such complaint or communication, promptly forward such complaint to Company and shall review, investigate, and resolve such complaint.

(f)Bank will, to the extent permitted by Applicable Law, promptly notify Company upon becoming aware of (i) any formal regulatory investigation, regulatory inquiry, enforcement action, or the like involving Bank or in connection with the Program (provided that the foregoing shall not apply to any informal regulatory discussions or informal audits conducted in the ordinary course of Bank’s business), or (ii) any order, judgment, decree, or any other legal or regulatory action that could affect the Program, and Bank will provide, to the extent permitted by Applicable Law and upon Company’s reasonable request, any information and materials requested by Company in connection therewith.

(g)Bank will make available, at least once annually, a reasonable summary of the Bank’s risk assessments in connection with the Program and will give Company the option, at least once annually, to review the risk assessments in their entirety at the Bank’s offices.

(h)Bank will not, without providing at least ninety (90) days’ prior written notice to Company, outsource or otherwise subcontract with third parties for the provision of any of its obligations under this Agreement. Company shall have the right to conduct due diligence on all new third-party service providers at its reasonable discretion prior to Bank’s use of any third- party service provider in connection with this Agreement. Notwithstanding anything to the contrary, Bank’s use of any third party-service provider to perform any of Bank’s obligations under this Agreement shall not release Bank of its obligations to Company under this Agreement, and Bank shall remain fully liable to Company for any breach of this Agreement caused by any third-party service provider retained by Bank. Notwithstanding anything to the contrary, Company hereby approves the third-party service providers set forth on Schedule 8.1(i)(h).

(i)Bank will implement commercially reasonable measures designed to meet the objectives of the security and confidentiality guidelines published by various Regulatory Authorities relevant to the Program, including, but not limited to, the implementation of appropriate policies, procedures, and other measures designed to protect against unauthorized access to or use of customer information maintained by Bank in connection with the Program that could result in substantial harm or inconvenience to any T-Mobile Customer and the proper disposal of T-Mobile Customer information in connection with the Program. Bank shall further implement a response program in connection with the Program consistent with the requirements

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of its Regulatory Authority, including, without limitation, notification to Company and affected T-Mobile Customers as soon as reasonably possible following any such incident. Bank shall ensure that any third-party service provider having access to T-Mobile Customer information is obligated to cooperate in the implementation of similar security measures and response programs.

(j)Bank will, at all times, comply with the obligations set forth in Exhibit J [Security Safeguards, Company Information, and Cardholder Information] hereto. In the event of any conflict between the terms and conditions of this Agreement and the terms and conditions of Exhibit J with respect to the subject matter thereof, the terms and conditions set forth in Exhibit J shall control.

(k)Bank shall, while this Agreement is in effect, prepare and maintain disaster recovery, business resumption, and contingency plans in connection with the Program consistent with the requirements of its Regulatory Authority. Bank shall periodically test such disaster recovery, business resumption, and contingency plans as may be appropriate and prudent in light of the nature and scope of the activities and operations of Bank and its obligations hereunder and shall promptly provide Company with a summary of the results of any such tests.

(l)If, at any time during the Term, Bank no longer qualifies for the Durbin Exemption, Bank will use best efforts to consummate a transaction pursuant to which a financial institution that qualifies for the Durbin Exemption (the “Durbin-Exempt Bank”) will become the holder of the T-Mobile Customer Accounts and the issuer of Cards in connection with the Program; provided, that (i) the Durbin-Exempt Bank shall be reasonably acceptable to Company, (ii) the transition of the T-Mobile Customer Accounts to the Durbin-Exempt Bank shall not have any adverse impact on T-Mobile Customers, as determined by Company in its reasonable discretion; and (iii) Bank shall ensure that all of Bank’s obligations under this Agreement will continue to be honored in accordance with the terms of this Agreement without modification hereof. Notwithstanding the foregoing, any transaction with, or assignment to, a Durbin-Exempt Bank that is announced prior to the Beta Launch Date shall not require Company’s approval or consent as described in this Section 8.1(l)(i)-(ii). If Bank is unable to consummate such a transaction, then, notwithstanding anything to the contrary in this Agreement: (i) Bank will continue to operate and administer the Program and satisfy all of its obligations under this Agreement in accordance with the terms of this Agreement; and (ii) Bank will pay to Company, on a monthly basis, one-hundred percent (100%) of Net Interchange Fees for Card activity in connection with the Program during the period in which Bank is not eligible for the Durbin Exemption.

(m)Subject to Company’s input and approval with respect to (i) the structure of the Program and the Sale Option, (ii) the financial institution that will hold the T-Mobile Customer Accounts and any deposits received by Bank for T-Mobile Customer Accounts, and (iii) any other term or condition Company deems relevant, [***].

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(n)In the event of any Supervisory Objection, Bank will promptly notify Company in writing of such Supervisory Objection (the “Supervisory Objection Notice”) and such Supervisory Objection Notice will describe, in sufficient detail, the nature of the Supervisory Objection and the extent to which the Supervisory Objection could affect the Program. In the case of a written Supervisory Objection, Bank shall provide the Supervisory Objection Notice along with a copy of the written Supervisory Objection, except as prohibited by Applicable Law. Prior to implementing any change to the Program in connection with any Supervisory Objection, Bank shall use best efforts to meet and work with Company to resolve the Supervisory Objection by way of a mutually agreed-upon solution. Except as prohibited by Applicable Law, Bank shall provide Company with any information reasonably requested by Company in connection with any Supervisory Objection. In the event any Supervisory Objection directing Bank to terminate this Agreement is not in writing, Bank agrees to request, and use reasonable efforts to obtain, a written Supervisory Objection and to provide such written Supervisory Objection to Company. If Bank is unable to obtain a written Supervisory Objection directing Bank to terminate this Agreement, then Bank will use best efforts to facilitate a meeting among the Regulatory Authority and Bank to discuss the oral Supervisory Objection directing Bank to terminate this Agreement. If Bank is unable to (i) obtain a written Supervisory Objection and to provide such Supervisory Objection to Company or (ii) facilitate a meeting among the Regulatory Authority and Bank, then Bank shall provide an official letter from Bank’s board of directors that represents and warrants that Bank is subject to a Supervisory Objection that requires Bank to terminate this Agreement and that describes such Supervisory Objection in sufficient detail. Notwithstanding the foregoing, in no event shall Bank be required to provide documentation or information to the extent prohibited by Applicable Law.

(o)Within thirty (30) days following the execution of this Agreement, Bank will complete Company’s information technology risk assessment. Bank will remediate any issue(s) identified in the information technology risk assessment to Company’s satisfaction prior to the Beta Launch Date; provided, that if Bank fails to remediate any such issue(s) to Company’s satisfaction prior to the Beta Launch Date, Company may terminate this Agreement.

		
	9.
	PROGRAM REVENUES AND COMPENSATION

9.1    Program Revenues. Each Party will be entitled to and responsible for those fees and charges as set forth in Exhibit B hereto [Fee Schedule]. Except for those fees expressly set forth in this Agreement (including Exhibit B), Bank shall not impose any other fees on Company in connection with this Agreement. The Parties acknowledge and agree that the [***]. At any time, if Bank and Company agree upon additional services from Bank, the Parties will negotiate in good faith to determine the pricing for such additional services.  Company shall be entitled to compensation as set forth on Exhibit

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A hereto.

9.2    Implementation Fee. Company agrees to pay a fee in the amount of [***] to Bank for the development, design, and creation of the Program (the “Implementation Fee”). The Implementation Fee shall be paid in increments according to the following schedule: [***].

9.3    Program Fees. Bank shall maintain fees for the Program that are, in the aggregate, at or below industry standards relative to private-label banking programs administered by other banks. Bank agrees that, at all times, the fees imposed on Company in connection with the Program (including, without limitation, the fees set forth on Exhibit B), shall, in the aggregate, be at least as favorable to Company as the fees charged by Bank in connection with any other private-label banking program administered by Bank. Bank shall, at least once annually at the expense of Bank, engage a qualified, mutually agreed upon third party (the “Fee Auditor”) to review and compare the fees charged by Bank in connection with the Program (including, without limitation, the fees set forth on Exhibit B) with the fees imposed by banks, generally, in connection with administering private-label banking programs (the “Fee Audit”). Bank shall cause the Fee Auditor to prepare a report that details the Fee Auditor’s findings (the “Fee Audit Report”) and to provide a copy of the Fee Audit Report to Company within thirty (30) days of completing the Fee Audit. If the Fee Audit Report indicates that Bank is imposing fees on Company in connection with the Program in the aggregate in excess of fees imposed by other banks in connection with private-label banking programs, then Bank shall formulate a plan for Bank to satisfy its obligations under this Section 9.3, which plan shall be subject to Company’s approval.

9.4    Fees Payable to Bank.  Company will remit all undisputed fees to Bank within sixty (60) days after an invoice is uploaded into Company’s accounts payable system (the “Invoice Receipt Date”).  Bank agrees that Bank waives any rights to any Charges payable under this Agreement that are not invoiced by Bank to Company within one-hundred eighty (180) days after the provision of services.

(a)    Company will notify Bank of any disputed fees in writing.  Bank and Company will attempt in good faith to resolve any disputed amounts. If Company agrees to pay all or a portion of a disputed amount, Bank will re-invoice that amount. Company will pay all such re- invoiced amounts to Bank within sixty (60) days after the reissued invoice is uploaded into Company’s accounts payable system. For the avoidance of doubt, the date on which any re- issued invoice uploaded into Company’s accounts payable system will be deemed to be the Invoice Receipt Date.

(b)    All invoices will follow Company’s invoicing standards. At a minimum, each invoice issued by Bank to Company must be in a form and content reasonably acceptable to Company and meet the requirements in this Agreement. Each invoice must contain details describing the basis for the requested payment, including a description of the services performed and such other details as may be reasonably necessary to explain the charges in the

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invoice. Bank will furnish such receipts, documents and other supporting materials as Company reasonably may request to verify the charges set forth in any invoice. Bank agrees that any terms or conditions included on the invoice that are in conflict with this Agreement are null and void.

(c)    Electronic Payments.  Company will issue all payments to Bank via ACH through Company’s electronic payment system. Bank will enroll in Company’s electronic payment system in order to receive payments. Bank will provide a point of contact and follow enrollment instructions provided by Company to enroll in the electronic payment system.

9.5    Fees Payable to T-Mobile. Bank will remit all amounts to Company via ACH on a monthly basis as described in Exhibit A within fifteen (15) days of issuing the monthly report.

		
	10.
	TERM OF AGREEMENT; TERMINATION; TRANSITION OF T-MOBILE CUSTOMERS; EXCLUSIVITY

10.1    Initial Term and Renewal Terms. The term of this Agreement shall commence as of the Effective Date, and shall continue for a period of three (3) years (the “Initial Term”), unless terminated earlier in accordance with this Agreement. Company may extend this Agreement for an additional two-year (2-year) period (the “Renewal Term”) by providing written notice to Bank prior to the end of the Initial Term. The Initial Term and the Renewal Term may be referred to herein as the “Term.”

		
	10.2
	Termination of Agreement.

(a)Generally. In addition to any other termination rights under this Agreement, this Agreement may be terminated as follows:

		
	(i)
	At any time, upon the mutual written consent of the Parties;

		
	(ii)
	By either Party, upon written notice, in the event of a material breach of this Agreement by the other Party if the breaching Party fails to cure such material breach within thirty (30) days following written notice from the non-breaching Party that specifies the nature and circumstances of the material breach;

		
	(iii)
	By Bank, upon one-hundred eighty (180) days’ prior written notice (or such shorter period as required by a Regulatory Authority) and subject to Section 8.1(n), in the event of a Supervisory Objection that requires Bank to terminate this Agreement;

		
	(iv)
	By Company, upon written notice, if Bank fails to use best efforts to maintain a product approval (net of service-related commitments not tied to product) and/or review ratings [***] in the various application stores [***] (the “Minimum Service Approval Rating”) during the Term;

		
	(v)
	By Company, upon written notice, if Bank fails to maintain the Minimum

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Service Approval Rating of [***] in any application store [***] during the Term;

		
	(vi)
	By Company, upon written notice, if Bank fails to deliver the agreed-upon products, services, features, and functionality outlined in Exhibit F within the timeline established therein;

		
	(vii)
	By Company, upon written notice, if Company does not approve the acceptance testing of the Beta Version due to any disagreement between the Parties in connection with the products and features in the Program and Bank fails, within sixty (60) days after receiving the Rejection Notice from Company rejecting the acceptance testing of the Beta Version due to such disagreement, to remedy any issues identified in Company’s Rejection Notice to Bank; and

		
	(viii)
	By Company, upon written notice, if the Program is or becomes unprofitable for Company, based on sufficient documentation provided by Company, during [***]; provided, that Company may not exercise this termination right until [***] of this Agreement.

(b)Brokered Deposits Durbin Exemption.  In addition to any other termination right under this Agreement, either of Company or Bank may terminate this Agreement in accordance with this Section 10.2(b) if the FDIC determines that the T-Mobile Customer Accounts constitute Brokered Deposits or if Bank, at any time during the Term, no longer qualifies for the Durbin Exemption and fails to consummate a transaction as contemplated by and in accordance with Section 8.1(l) or assign this Agreement to a Durbin-Exempt Bank subject to and in accordance with Section 15.12 and Section 8.1(l), respectively; provided, that (i) neither Party may exercise its right to terminate this Agreement pursuant to this Section 10.2(b) before July 1, 2018, and (ii) if either Party exercises its right to terminate this Agreement pursuant to this Section 10.2(b), then, notwithstanding anything to the contrary in this Agreement, Bank shall perform its obligations under this Agreement in accordance with the terms of this Agreement through June 30, 2019 (the “Modified Transition Assistance Period”). In the case of either of the foregoing, Company shall have the right to the Sale Option.

10.3    The Parties agree that, notwithstanding anything to the contrary in this Agreement, any wind-down and/or de-conversion costs (collectively, the “Wind-Down Costs”) in connection with any termination of this Agreement shall be borne by [***].

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	10.4
	Obligations upon Termination.

(a)Transition Period and Assistance. Upon expiration or termination of this Agreement for any reason, [***], Bank shall continue to perform its obligations under this Agreement for a period not to exceed twelve (12) months (or 18 months in the event of a termination by Company pursuant to Section 10.2(a)(ii)) of the expiration or termination date (the “Transition Assistance Period”); provided, that, Company may elect, in its sole discretion, to end the Transition Assistance Period at any time after one-hundred eighty (180) days. Notwithstanding anything to the contrary, if Bank is directed, pursuant to a Supervisory Objection, to terminate this Agreement, Bank shall use commercially reasonable efforts and work in good faith with Company and with the Regulatory Authority that issued the Supervisory Objection that directed Bank to terminate this Agreement to provide Transition Assistance Services (as defined below) as mutually agreed by the Parties and as permitted by the Regulatory Authority. During the Transition Assistance Period, Bank shall continue to perform its obligations under this Agreement in accordance with the terms and conditions specified herein and shall provide any and all assistance reasonably requested by Company to transition the Program to a Successor Institution pursuant to the Sale Option without degrading or interfering with (i) the Program, (ii) any of the services provided by Bank hereunder, or (iii) the business, operations, or systems of Company, including, without limitation: (1) any data migration to Company or Successor Institution with Regulatory Authority approval at Company’s option; and (2) any other commercially reasonable transition assistance services as are reasonably requested by Company (collectively, the “Transition Assistance Services”). For the avoidance of doubt, Bank shall provide the Transition Assistance Services in accordance with this paragraph without regard to the reason for the termination of this Agreement and the Term of this Agreement shall not be deemed to have expired or terminated until the Transition Assistance Services have been completed; provided, that, Company shall not be subject to any minimum fees or similar financial obligations during any Transition Assistance Period. The Transition Assistance Services shall be provided as part of the Program at the rates specified herein; [***].

		
	(b)
	Upon termination of this Agreement:

		
	(i)
	any undisputed amounts due and owing from one Party to the other Party shall be promptly paid in full; and

		
	(ii)
	each Party shall return, upon the other Party’s request, any and all property of the other Party (including, without limitation, any Confidential Information, software, and other property of the other Party; and

		
	(iii)
	any T-Mobile Customer Accounts opened during the Term shall remain with Bank, unless Company exercises the Sale Option.

		
	(c)
	Bank shall retain all records and documentation related to the Program (including

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T-Mobile Customers) in a form that is reasonably retrievable for a period of five (5) years after the closure of any T-Mobile Customer Account, or the termination of this Agreement (whichever is earlier). The Parties agree to cooperate with one another to make such records  and documentation available as may be required to comply with Applicable Law, or to respond to customer inquiries, legal requests (such as a subpoena), audits, or regulatory examination requests.

		
	10.5
	Transition of T-Mobile Customers.

(a)Upon review and discussion, the Parties acknowledge and agree that it is in the best interest of T-Mobile Customers to ensure that the T-Mobile Financial Services offered in connection with the Program maintain the value proposition offered to T-Mobile Customers in the event of the expiration or termination of this Agreement. Bank, as the financial institution  that will hold the T-Mobile Customer Accounts during the Term, hereby expresses its desire to transition such T-Mobile Customer Accounts upon the expiration or termination of this Agreement and hereby agrees [***] T-Mobile Customer Accounts upon such expiration or termination; provided, that, [***] after such expiration or termination, Bank will offer Company the right of first refusal to purchase the T-Mobile Customer Accounts or to facilitate the purchase of the T-Mobile Customer Accounts to a qualified successor financial institution designated by Company (the “Successor Institution”), in each case, for [***] of such T-Mobile Customer Accounts, which shall be determined in accordance with Section 10.5(b) (the “Sale Option”). If Company does not accept the Sale Option, Bank may sell the T-Mobile Customer Accounts to any financial institution. If Company accepts the Sale Option, Company shall: (1) provide written notice to Bank [***] following receipt of the Sale Option (the “Sale Option Notice”); (2) execute, or facilitate the execution of, an agreement for the purchase of the T-Mobile Customer Accounts [***] following the delivery of the Sale Option Notice to Bank; and (3) provide, or cause the Successor Institution to provide, Bank with a detailed outline of its intentions in connection with the T-Mobile Customer Accounts, including, as applicable, the identity of the Successor Institution, the procedures for the transition of the T-Mobile Customer Accounts, and any other information reasonably requested by Bank that is necessary to facilitate the Sale Option. The Parties agree that the Sale Option shall be contingent upon the execution of an agreement that sets forth the mutually agreed to terms and conditions of the Sale Option.

(b)The sale price will be equal to [***]

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[***]. Subject to the receipt of all necessary approvals from any Regulatory Authority, Bank agrees to transition the T-Mobile Customer Accounts to Company or the Successor Institution, as applicable, within [***] after closing of the Sale Option.

(c)If Company elects to accept the Sale Option and the T-Mobile Customer Accounts are transitioned to Company or the Successor Institution, as applicable, [***]. If Company accepts the Sale Option within the time period provided under Paragraph 10.5(a), the Term of this Agreement shall be extended and the Parties shall remain in compliance with all provisions of this Agreement, including the timely payment of all other fees and sums called for under this Agreement, through the date that the T-Mobile Customer Accounts are transitioned to Company or the Successor Institution, as applicable; provided, that Company shall not be subject to any minimum fee or similar commitments following the effective date of any expiration or termination of this Agreement. Company or the Successor Institution will be responsible for obtaining any necessary approvals from any Regulatory Authority.

10.6    Exclusivity and Cross-Marketing.  Bank agrees that, for the duration of the Term, (i) Bank shall not offer any financial products or services that are substantially similar to the T- Mobile Financial Services to any other Mobile Network Operator in the United States, and (ii) Bank shall not target any T-Mobile Customers using any T-Mobile Customer or Company customer list(s) or any data from or about the Program for the purpose of  marketing or selling any financial product or service, other than the T-Mobile Financial Services, to any such T-Mobile Customer. Company agrees that, for the duration of the Term, Company shall not offer a consumer-facing demand deposit account with any other financial institution. The provisions of this Section 10.6 shall not apply during any Termination Assistance Period.

		
	11.
	CONFIDENTIALITY

11.1    Confidential Information. The term “Confidential Information” shall mean this Agreement and any and all proprietary information, data, trade secrets, business information and other information of any kind whatsoever which (a) a Party discloses in writing, orally, or visually (the “Discloser”) to the other Party (the “Recipient”) or to which the Recipient obtains access in connection with the negotiation of this Agreement or the exercise of its rights or performance of its obligations hereunder, and which (b) relates to (i) the Discloser’s business or business practices, (ii) the Discloser’s customers and/or associates, or (iii) consumers who have made Sensitive Customer Information available to Bank and/or Company. “Sensitive Customer

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Information” means “non-public personal information,” as defined in the Gramm-Leach-Bliley Act and its implementing regulations (the “GLBA”). Except as otherwise provided in Section 11 of this Agreement, Confidential Information may only be accessed, used, and disclosed by the Parties for the business purpose contained herein.

11.2    Sensitive Customer Information. Each Party acknowledges and agrees that it will protect, maintain, use, and disclose Sensitive Customer Information in accordance with this Agreement and in a manner that is not prohibited by Applicable Law. In addition to the other requirements set forth in Section 11 regarding Confidential Information, Sensitive Customer Information shall be subject to the additional restrictions set forth in this Section 11.2. The Recipient shall access, use, and disclose Sensitive Customer Information only for the purpose of exercising its rights and performing its obligations hereunder and shall disclose such Sensitive Customer Information only to its affiliates, employees, officers, agents, subcontractors, and third-party vendors (collectively, “Recipient Third Parties”) on a “need to know” basis and only to the extent such Recipient Third Parties are subject to obligations with respect to such Sensitive Customer Information that are no less restrictive than the obligations imposed on Recipient hereunder. The restrictions set forth herein shall apply during the Term and after the termination of this Agreement.

11.3    Marketing Data. Bank acknowledges and agrees that it will provide to Company, and Company may securely maintain, [***]. Bank agrees that it will make any and all disclosures and obtain any and all consents, authorizations, and approvals from T-Mobile Customers required under Applicable Law for Company to exercise its rights and for Bank to perform its obligations hereunder.

11.4    Compliance with Applicable Law. The Parties shall comply with Applicable Law with respect to the use and disclosure of Sensitive Customer Information.

11.5    Disclosure to Employees, Agents and Third Parties. Each of the Parties, as a Recipient, hereby agrees on behalf of itself and Recipient Third Parties that Confidential Information will only be disclosed or made available to Recipient Third Parties on a “need to know basis” for a Party to exercise its rights and perform its obligations hereunder and only if such Recipient Third Parties are subject to confidentiality obligations with respect to such Confidential Information that are no less restrictive than the obligations imposed on the Recipient hereunder. Each of the Parties, as a Recipient, also may disclose Confidential Information as required by law; provided, that, prior to any disclosure of Confidential

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Information as required by law, the Recipient shall (i) notify the Discloser of any actual or threatened legal compulsion of disclosure and any actual legal obligation of disclosure immediately upon becoming so obligated, and (ii) cooperate with the Discloser’s reasonable, lawful efforts to resist, limit or delay disclosure.

11.6    Return/Destruction of Materials. Upon the termination of this Agreement, or at any time upon the request of a Party, the other Party shall return or, at the requesting Party’s election, destroy all Confidential Information, including Sensitive Customer Information, in the possession of such Party or in the possession of any third party over which such Party has or may exercise control, except as otherwise provided in this Agreement or as required to meet record-retention requirements under Applicable Law; provided, that, Company shall be under no obligation to return or destroy Behavior Data.

11.7    Exceptions. The obligations of confidentiality in this Section 11 shall not apply to any information which a Party rightfully has in its possession when disclosed to it by the other Party, information which a Party independently develops, information which is or becomes known to the public other than by breach of this Section 11 or information rightfully received by a Party from a third party without the obligation of confidentiality.

11.8    The Parties acknowledge and agree that the same or similar information, including Confidential Information, may constitute Company data and Bank data and, to the extent such information is both Company data and Bank data, (i) Company shall retain its ownership and use rights in such Company data without restriction hereunder as to elements of Company data that are also elements of Bank data, and (ii) Bank shall retain its ownership and use rights in such Bank data without restriction hereunder as to elements of Bank data that are also elements of Company data; provided, that, notwithstanding anything to the contrary in this Agreement, Bank shall not use any data accessed, disclosed, obtained, or received in connection with the Program to market any financial products or services to T-Mobile Customers.

11.9    Media Releases. All media releases by either Party regarding the Program shall be coordinated with and, subject to requirements of Applicable Law, approved by the other Party in writing prior to the release thereof, which approval will not be unreasonably withheld or delayed.

11.10    Injunctive Relief. The Parties acknowledge that, in the event either Party breaches the terms of Section 11, the non-breaching Party shall be entitled to injunctive relief, in addition to any other remedies that may be available to it at law or under the terms of the Agreement.

		
	12.
	INSURANCE

12.1    Required Insurance Coverage. Except as otherwise provided in Section 12.1(e), each Party shall, at its own cost and expense, obtain and maintain in full force and effect, with financially sound and reputable insurers having A.M. Best ratings of [***] or better, insurance to cover such Party’s obligations under this Agreement. Upon execution of this Agreement and before the commencement of any services contemplated under the Agreement, each Party shall provide the other Party with a certificate of insurance or declaration page

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evidencing the following coverages and amounts with such insurers and naming the other Party as an additional insured:

(a)    Commercial General Liability. Including products, completed operations liability and personal injury, contractual liability and broad form property damage liability coverage for damages to any property with a minimum combined single limit of [***] per occurrence and [***] general aggregate per location for bodily injury, death, property damage and personal injury.

(b)    Business Automobile Coverage. Covering use of any owned, non-owned, and hired automobiles with a minimum combined single limit of [***] per occurrence for bodily injury and property damage liability.

(c)    Workers’ Compensation Coverage. Including occupational illness or disease coverage, or other similar social insurance in accordance with the laws of each State in which services are performed; and Employer’s Liability Insurance with a minimum limit of [***] per occurrence.

(d)    Umbrella/Excess Liability. Coverage with a minimum limit of [***] to cover claims in excess of the coverage limits for Commercial General Liability, Employer’s Liability and Automobile Liability.

(e)    Professional Liability/Errors and Omissions Insurance. Bank shall maintain professional liability/errors and omissions liability insurance applicable to Bank’s obligations hereunder for minimum limits of [***] per claim and [***].  If such coverage is written on a claims-made basis, then (i) the retroactive date must precede the obligations performed under this Agreement, and (ii) the coverage must continue through the purchase of an extended reporting period (or continuation of the existing coverage) for [***] after termination of this Agreement.

(f)    Bank’s Obligation to Maintain Cybersecurity Insurance Coverage. Bank, at all times, shall obtain and maintain cybersecurity and technology coverage for any liability arising from or related to the theft, dissemination, and/or use of Confidential Information and personal data stored or transmitted in electronic form and for any liability arising from or related to the introduction of a computer virus into, or otherwise causing damage to, any Company’s or any third party’s (including any T-Mobile Customer’s), computer systems, networks or similar computer-related property and the data, software, and programs stored thereon. The amount of coverage maintained by Bank, at all times, shall be [***] in accordance with the table below:

	
			
	[***]
	[***]
	[***]

	Tier 1
	[***]
	[***]

	Tier 2
	[***]
	[***]

	Tier 3
	[***]
	[***]

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	Tier 4
	[***]
	[***]

[***]. For the avoidance of doubt, Bank’s failure to maintain coverage, at all times, in the amount required under this Section 12.1(f) shall be deemed to be a material breach of this Agreement.

If the coverage required under this Section 12.1(f) is written on a claims-made basis, then (i) the retroactive date must precede the obligations performed under this Agreement, and (ii) the coverage must continue through the purchase of an extended reporting period (or continuation of the existing coverage) for [***] after termination of this Agreement.

		
	12.2
	Additional Insurance Requirements.

(a)Each Party shall cause its insurers or its representatives to issue certificates of insurance evidencing that the coverages under this Agreement are maintained in force, and each Party will provide not less than thirty (30) days written notice to the other Party prior to any cancellation of any of the policies.

(b)Each Party shall provide evidence of such policies of insurance to the other Party upon request.

(c)Nothing in this Section 12 will be construed as limiting either Party’s liability to the other Party or to any third party.

(d)Each Party shall be named additional insured under the General Liability and Umbrella Liability.

12.3    No Warranty. No warranty is provided that the coverages and limits listed in this Section 12 are adequate to cover and protect the interests of either Party. These are solely minimums that have been set to protect the interests of the Parties. Each Party will be fully responsible for risk of loss of, and damage to, any building, equipment, software or other materials owned or leased by it and used in providing the services in the Agreement.

		
	13.
	LIMITATION OF LIABILITY

13.1    No Special Damages. EXCEPT TO THE EXTENT SUCH DAMAGES ARISE OUT OF OR RELATE TO A PARTY’S (A) BREACH OF SECTIONS [***], (B) A PARTY’S [***], OR (C) A PARTY’S FRAUD, WILLFUL MISCONDUCT, OR GROSS NEGLIGENCE, IN NO EVENT SHALL EITHER PARTY BE

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LIABLE TO THE OTHER PARTY, WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE, FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOST PROFITS, EVEN IF SUCH PARTY HAS KNOWLEDGE OF THE POSSIBILITY OF SUCH DAMAGES ARISING FROM OR RELATED TO THIS AGREEMENT.

13.2    Disclaimers of Warranties. EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT, THE PARTIES SPECIFICALLY DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, ARISING OUT OF OR RELATED TO THIS AGREEMENT, INCLUDING WITHOUT LIMITATION, ANY WARRANTY OF MARKETABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT, AND IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE, EACH OF WHICH IS HEREBY EXCLUDED BY AGREEMENT OF THE PARTIES.

13.3    Liabilities of Parties for Regulatory Claims.  Each Party shall be liable to the  ther Party for any and all costs, expenses, liabilities, and losses, including, without limitation, the cost of investigation, the cost of litigation, and reasonable attorneys’ fees (collectively, “Losses”), in connection with any (a) claim, demand, or cause of action brought by or on behalf of any T-Mobile Customer as a result of the other Party’s failure to comply with Applicable Law, or (b) regulatory investigation conducted by any Regulatory Authority.

		
	14.
	INTELLECTUAL PROPERTY

14.1    Each Party shall be the sole owner of all right, title, and interest in and to all such intellectual property owned by it immediately preceding the Effective Date and any intellectual property acquired, created, or developed by such Party independently of this Agreement after the Effective Date. For the purposes of clarity, Bank is the owner of all right, title, and interest in and to all intellectual property and proprietary rights in and to its banking system and related technology, including, but not limited to, its mobile and web-based applications, user interface (“Bank User Interface”), data systems, databases, financial and banking processes, and related systems and processes used and operated by Bank in connection with its online banking system for retail and commercial banking and financial services (collectively, “Bank FinTech”). Company shall not, nor assist any third party’s efforts to, modify, reverse engineer, disassemble, decrypt, decompile, make derivative works of, or attempt to discover or modify in any way the underlying source code or object code relating to Bank FinTech.

14.2    As between the Parties, each Party, respectively, will be the sole and exclusive owner of all right, title, and interest in and to all intellectual property acquired from a third party or developed by or on behalf of such Party in connection with such Party exercising its rights or performing its obligations hereunder. Without limiting the foregoing, Company shall own all respective rights, title, and interest in and to any modification or customization of Bank’s User Interface, and any component thereof, created or developed by or on behalf of Company (including by Bank or any affiliate of Bank) with Bank’s authorization (the “Company Specific User Interface”), including, without limitation, any information architecture of the Company Specific User Interface, wireframes, and flows of the Company Specific User Interface, as well as the design (including the look and feel) of the Company Specific User Interface.  For the

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purposes of clarity, Company acknowledges and agrees that it is acquiring ownership rights solely in and to the modifications and customizations made to the Bank User Interface that are embodied in the Company Specific User Interface, but not any ownership rights in the Bank User Interface. The Company Specific User Interface shall constitute a “work made for hire” under the U.S. Copyright Act of 1976 (17 U.S.C. §101 et seq. and any successor statute thereto), and the ownership of the Company Specific User Interface shall vest in Company at the time it is created. To the extent any rights, title, or interest in or to the Company Specific User Interface, including any intellectual property rights, may not vest automatically in Company, whether by operation of law or otherwise, Bank hereby irrevocably assigns and transfers to Company all right, title, and interest in and to the Company Specific User Interface, including any intellectual property rights therein. For the avoidance of doubt, Customer Specific User Interface shall not be considered to be jointly-owned intellectual property.

14.3    Bank hereby grants to Company and its third-party service providers a revocable, non-transferable, non-sublicenseable, non-exclusive, worldwide, royalty-free license, during the Term and any Transition Assistance Period or Modified Transition Assistance Period, to all intellectual property it provides to Company, or to which it provides Company with access, solely for the purpose of using such intellectual property in connection with the Program and as necessary to exercise its rights and perform its obligations hereunder during the Term and any Transition Assistance Period or Modified Transition Assistance Period. Notwithstanding anything to the contrary, to the extent that the Company Specific User Interface relies on Bank intellectual property owned by Bank preceding the Effective Date or any intellectual property acquired, created, or developed by Bank independently of this Agreement after the Effective Date, Bank hereby grants to Company, under intellectual property rights owned or controlled by Bank or any Bank affiliate, an irrevocable, sublicensable, exclusive, royalty-free, perpetual, worldwide right and license to such intellectual property, including to make use the Company Specific User Interface.

14.4    The Parties shall not develop any intellectual property that will be deemed jointly- owned unless they have agreed, in advance and in writing, that such intellectual property writing will be jointly-owned. If, notwithstanding the foregoing, a “joint work of authorship” (as defined under the U.S. Copyright Act) or a “joint invention” (as defined under the U.S. Patent Act) arises in any jurisdiction in the absence of such a separate agreement, then each Party will have the right to use, license, and otherwise exploit such jointly-owned intellectual property without any restriction or obligation to account to the other Party; provided, however, that the foregoing shall not be construed as granting or conveying any right or licenses under any other intellectual property of the other Party even if necessary to use or otherwise exploit such jointly-owned intellectual property.

14.5    Bank hereby grants to Company, its parents and affiliates, and its third-party service providers a revocable, non-transferrable, non-sublicenseable, non-exclusive, worldwide, royalty-free license, during the Term and any Transition Assistance Period or Modified Transition Assistance Period, to use, host, display, reproduce, and transmit the Bank Marks for the purpose of exercising its rights and performing its obligations hereunder solely in connection with the Program.

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14.6    Company hereby grants to Bank (i) a limited, personal, revocable, non-exclusive, non-transferrable, non-sublicenseable, royalty-free sublicense, to use the DT Marks, and (ii) a limited, personal, revocable, non-exclusive, non-transferable, non-sublicenseable, royalty-free license to use the Company Marks, during the Term and any Transition Assistance Period or Modified Transition Assistance Period, in the United States, for the purpose of exercising its rights and performing its obligations hereunder solely in connection with the Program.

14.7    Bank, Company, and DT shall retain all right, title, interest and ownership in and to their respective Marks.  Neither Bank nor Company will challenge, nor assist any third party in challenging, any right, title or interest of the other Party or such Party’s licensors in their respective Marks, claim any right, title or interest in or to the other Party’s or such Party’s licensor’s Marks, or assert any interest in, or attempt to register or apply for registration of, any of the other Party’s or such Party’s licensor’s Marks or any confusingly similar variation of such Marks. Any use of Bank Marks by Company will inure to the benefit of Bank, and any use of Company Marks and DT Marks by Bank shall inure to the benefit of Company and DT, respectively. Except as provided herein, neither Party shall use the other Party’s Marks or such other Party’s licensor’s Marks, or any adaptation or variation of such Marks, in any manner whatsoever (including, without limitation, in any press releases, advertising, promotion or sales literature), without the prior written consent of the other Party. Neither Party will use the other Party’s Marks or such Party’s licensor’s Marks, or incorporate any such Marks, including any confusingly similar variation of such Marks, into any company or trade names, other marks, email addresses, gTLDs, domain names or URL strings, telephone numbers, Google AdWords (or other online paid search advertising tool), or social networking user names, “handles,” or hashtags. Each Party acknowledges that it is familiar with the high standards, quality, style and image of the other Party’s Marks or such other Party’s licensor’s Marks, and will use such Marks in a manner consistent with such uses. Neither Party will use the other Party’s Marks or such Party’s licensor’s Marks in any way that causes, or may cause, damage to the reputation, business or goodwill of the other Party or its licensors. Neither Party will do anything itself, or aid or assist any other person or entity to do anything that would, or could reasonably be expected to infringe, violate, tarnish, dilute, cause a loss of distinctiveness, harm, disparage, misuse or bring into disrepute the other Party’s Marks or such other Party’s licensor’s Marks, and/or do anything that would, or could reasonably be expected to damage the goodwill associated therewith. Each Party will meet and comply with all of the specifications and standards prescribed by the other Party or its licensors, including but not limited to (a) Bank’s standards (as set forth in Exhibit 14.7), and (b) Company’s Marks Rules (available at http://www.t-mobile.com/marksrules/) and brand guidelines. On ten (10) days written notice, either Party may require the other Party to provide a sampling of goods and media bearing the such other Party’s Marks or such Party’s licensor’s Marks to determine the manner in which such Marks are used and the nature and quality of the goods and services with which such Marks are used. To the extent a Party determines that any use of its Marks by the other Party is inconsistent with the terms and conditions of this Section 14.7, then such Party may provide written notice of such inconsistency to the other Party and the Parties will work in good faith to address the issue giving rise to such written notice within a commercially reasonable period of time. Notwithstanding anything to the contrary, Company shall maintain all right and title to, and ownership in and of, all branding used in connection with the Program (except for Banks Marks).

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14.8    Notwithstanding anything to the contrary, Company shall maintain all right and title to, and ownership in and of, all branding used in connection with the Program (except for Bank Marks).

14.9    All rights not expressly granted hereunder are reserved by the owner of such rights, and the reserved rights shall remain the exclusive property of such owner.

		
	15.
	GENERAL PROVISIONS

15.1    Indemnification.

(a)Company shall indemnify and hold harmless Bank, its parent, subsidiaries and affiliates and their respective officers, directors, employees and permitted assigns (as applicable, the “Bank Indemnified Party”), from and against any direct damages, costs, expenses, or liabilities arising from or related to any legal action, claim, demand, proceeding, order, suit, or cause of action (collectively, any “Claim”) brought against any Bank Indemnified Party by any third party in connection with: (i) Company’s breach of any representation, warranty, or covenant of this Agreement or any agreement between Company and a T-Mobile Customer in connection with the Program; (ii) Company’s breach of any of its obligations under this Agreement; (iii) Company’s negligence, willful misconduct, or bad faith; or (iv) [***].

(b)Bank shall indemnify and hold harmless Company and its parent, subsidiaries and affiliates, and their respective officers, directors, employees, and permitted assigns (as applicable, a “Company Indemnified Party”), from and against any direct damages, costs, expenses, or liabilities incurred by a Company Indemnified Party arising from or related to any Claim brought against any Company Indemnified Party by any third party in connection with Program, including, without limitation: (i) Bank’s breach of any representation, warranty, or covenant of this Agreement, (ii) Bank’s breach of any of its obligations under this Agreement or under any agreement between Bank and a T-Mobile Customer; (iiii) Bank’s negligence, willful misconduct, or bad faith, or (iv) Bank’s infringement of any third party intellectual property rights caused by Company’s use of Bank’s FinTech, the Company Specific User Interface, Bank Marks, or other similar rights licensed to a Company Indemnified Party, provided that Bank shall not be required to indemnify the Company under this subsection (iv) if Bank’s FinTech, Bank Marks, or other similar licensed rights were modified or changed by Company without Bank’s written authorization.

(c)If any Claim is asserted against an Indemnified Party by any third party in respect of which the Indemnified Party may be entitled to indemnification under the provisions of

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subsections (a) or (b) above, the Indemnified Party shall promptly provide written notice of such Claim to the Indemnifying Party from which indemnification may be sought. The Indemnifying Party shall have the right, by notifying the Indemnified Party within thirty (30) days of its receipt of the notice of the Claim, to assume the entire control of the defense of the Claim, including the right to settle the Claim at the sole discretion of the Indemnifying Party, provided that such settlement: (i) does not impose any obligation on the Indemnified Party, (ii) does not include an admission of liability by the Indemnified Party, (iii) grants the Indemnified Party a full and unconditional release from all liability with respect to the Claim, and (iv) does not otherwise adversely affect the Indemnified Party. The Indemnifying Party may not consent to the entry of any judgment with respect to a Claim without the written consent of the Indemnified Party. Any counsel retained by the Indemnifying Party for such purposes shall be reasonably acceptable to the Indemnified Party. The Indemnifying Party shall institute and maintain any such defense diligently and reasonably and shall keep the Indemnified Party fully advised as to the status thereof. The Indemnified Party shall have the right to participate in the defense of any Claim, including through employing its own counsel, but the fees and expense of such counsel shall be at the Indemnified Party’s expense, unless otherwise authorized in writing by the Indemnifying Party.

(d)The provisions of this Section 15.1 and of Section 15.2 shall survive termination or expiration of this Agreement.

		
	15.2
	Disclosure.

(a)Each Party shall promptly notify the other of any action, suit, proceeding which might give rise to any indemnification hereunder or which might materially and adversely affect either Party’s ability to perform this Agreement.

(b)Each Party represents and warrants to the other Party that it has no knowledge of any pending or threatened suit, action, arbitration or other proceedings of a legal, administrative or regulatory nature, or any governmental investigation, against it or any of its affiliates or any officer, director, or employee, which has not been previously disclosed in writing and which would materially and adversely affect its financial condition or its ability to perform this Agreement.

15.3    Legal Compliance. Each Party represents and warrants to the other Party that it is familiar with the requirements of Applicable Law and agrees that it will use commercially reasonably efforts to maintain familiarity with Applicable Law relating to its activities under this Agreement, now and in the future. The provisions of this Section 15.3 shall not alter the responsibilities of the Parties to ensure compliance as otherwise required by separate sections of this Agreement.

15.4    Program Governance. The Parties agree to adhere to the joint governance  structure for oversight and management of the Program as described in this Section 15.4.

(a)    Program Managers and Program Teams. Within thirty (30) days after the  Effective Date, each Party shall appoint one Program relationship manager (“Program Manager”).  Each Program Manager shall serve as the other Party’s principal point of contact on

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Program-related issues and shall lead the Program Manager’s respective team (“Program Team”) in executing its Party’s obligations hereunder. Each Party shall endeavor to provide stability and continuity in the Program Manager positions and each Party’s other Program personnel. Bank’s Program Team and Company’s Program Team collectively will constitute the “Joint Governance Committee.”

(b)    Joint Governance Committee. The Joint Governance Committee shall be responsible for monitoring all aspects of the Program to ensure that the Parties are exercising their rights and performing their obligations in accordance with this Agreement; provided, however, that the Joint Governance Committee shall not be authorized to amend this Agreement or modify either Party’s obligations hereunder. The Joint Governance Committee, at a minimum, shall meet in person, by phone, or by videoconference on a quarterly basis. The Joint Governance Committee shall: [***].

(c)    Within thirty (30) days after the Effective Date, each Party shall appoint two (2) senior executives to serve on an advisory board (the “Advisory Board”).  If the Joint

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Governance Committee is unable to resolve any matter of material significance, then the Joint Governance Committee shall refer the matter to the Advisory Board and the Advisory Board shall endeavor, within a reasonable period of time, to resolve such matter.

(d)    Fraud Losses. Both Parties recognize that managing losses on the Program is an essential element. Bank will implement a loss prevention program designed to detect, prevent, and mitigate losses in connection with the Program. Company shall reasonably cooperate with Bank in the implementation of loss prevention activities throughout the term of the Agreement. [***]. The Parties will meet annually to discuss Bank’s Fraud Prevention Policy.

(e)    Risk Management. The Parties will reasonably cooperate to identify the legal, financial, and reputational risks associated with the Program (including, without limitation, any information technology risks) and will manage and regularly review a transparent and accessible risk matrix that identifies such risks, including the probability and impact of such risks, as well as mitigations and contingencies to address and respond to such risks. Bank promptly shall notify Company of any material changes to Bank’s technology architecture.

15.5    Relationship of Parties. Bank and Company intend for their relationship to be that of independent contractors in performing their respective obligations hereunder. Nothing in this Agreement or in the working relationship established and developed hereunder shall be deemed to be, nor shall it cause, Bank and Company to be treated as partners, joint venturers, employees or joint associates for profit.

15.6    Regulatory Examinations and Financial Information. Company agrees to submit to any examination which may be required by any Regulatory Authority with audit and examination authority over Bank, to the fullest extent of such Regulatory Authority. Company shall also provide to Bank any information, which may be required by any Regulatory Authority in connection with their audit or review of Bank or the Program, and shall reasonably cooperate with such Regulatory Authority in connection with any audit or review of Bank. Nothing in this Agreement shall limit the right of any Party to this Agreement to seek injunctive relief, to the extent available, with respect to breaches of this Agreement.

15.7    Governing Law. This Agreement shall be governed by the internal laws, and not by the laws regarding conflicts of laws, of the State of New York. Each Party hereby submits to the jurisdiction of the courts of the State of New York, and hereby waives any objection to venue with respect to actions brought in any court in the State of New York.

15.8    Severability. If any provision of this Agreement is deemed by a court, Regulatory Authority, or other public or private tribunal of competent jurisdiction to be invalid or otherwise unenforceable, then such provision shall be deemed to have been omitted from this Agreement.  In the case of the foregoing, the remaining provisions of this Agreement shall remain in full force and effect.

		
	15.9
	Force Majeure.

(a)Neither Party is liable for the failure of such Party to perform its obligations hereunder if such failure is the result of an act of God (including fire, flood, earthquake, storm,

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hurricane or other natural disaster), war, invasion, act of foreign enemies, hostilities (regardless of whether war is declared), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation, terrorist activities, government sanction, blockage, embargo, labor dispute, strike, lockout or interruption or failure of electricity or telephone service (each, a “Force Majeure Event”).

(b)If either Party asserts this Section 15.9 as an excuse for the failure to perform its obligations hereunder, then the non-performing Party must prove that the Party took commercially reasonable steps to minimize any delay or damages caused by foreseeable events, that the Party substantially fulfilled all non-excused obligations, and that the other Party was timely notified of the likelihood or actual occurrence of a Force Majeure Event.

15.10    Survival. Any rights and obligations of Bank and Company which, by their nature, should extend beyond the termination of this Agreement shall survive the termination of this Agreement, including any representations and warranties made by each Party, the indemnification obligations of each Party, and the liability provisions hereof.

15.11    Successors and Third Parties. Except as limited by Section 15.12, this Agreement and the rights and obligations hereunder shall bind and inure to the benefit of the Parties and their successors and permitted assigns.

15.12    Assignments. Except as otherwise provided in this Section 15.12, neither Party may assign this Agreement, or any rights hereunder, without the other Party’s prior written consent; provided, that (i) Company may assign this Agreement, or any of its rights hereunder, to any affiliate of Company, and (ii) Bank may assign this Agreement, or any of its rights hereunder, to a Durbin-Exempt Bank as contemplated by and subject to Section 8.1(l). If a Party attempts to assign this Agreement, or any rights hereunder, without the other Party’s consent, then the other Party may terminate this Agreement, without penalty, immediately upon written notice to the other Party. Notwithstanding anything to the contrary, Company may assign this Agreement in the event of a change of Control of Company. If Bank assigns this Agreement subject to and in accordance with Section 8.1(l) or this Section 15.12, then, notwithstanding anything to the contrary, Bank shall be bound by and comply with Bank’s confidentiality obligations and the exclusivity provisions of this Agreement as if Bank were still a party to this Agreement.

15.13    Notices. All notices, requests, and approvals required by this Agreement shall be in writing addressed and directed to the other Party at the mailing address, electronic mail address, or facsimile set forth below or at such other mailing address, electronic mail address, or facsimile as the Parties may designate in writing from time to time subject to and in accordance with this Section 15.13. Notices, requests, and approvals shall be deemed to have been given upon the earlier of (i) the receipt of an electronic mail or facsimile transmission during normal business hours or (ii) the actual receipt thereof. Notices, requests and approvals shall be addressed to the attention of:
Bank to:    Customers Bank
ATTN: [***] 
115 Munson Street
New Haven, Connecticut 06511

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With a copy to:    Customers Bank
ATTN: [***]
1015 Penn Avenue
Wyomissing, Pennsylvania 19610

Company to:    T-Mobile USA, Inc.
ATTN: [***]
12920 SE 38th Street
Bellevue, Washington 98006-1250

With a copy to:    T-Mobile USA, Inc.
ATTN: General Counsel 12920 SE 38th Street
Bellevue, Washington 98006-1250

15.14    Waivers. Neither Party shall be deemed to have waived any of its rights, power, or remedies hereunder, except in a writing signed by an authorized agent or representative of the Party to be charged. Either Party may, by an instrument in writing, waive compliance by the other Party with any term or provision of this Agreement. The waiver by either Party of a breach of any term or provision of this Agreement shall not be construed as a waiver of any subsequent breach.

15.15    Entire Agreement: Amendments. This Agreement, including any exhibits, schedules, and attachments, constitutes the entire Agreement between the Parties and supersedes all prior agreements, understandings, and arrangements, oral or written, between the Parties with respect to the subject matter hereof. This Agreement may not be modified or amended except by an instrument or instruments in writing signed by the Party against which enforcement of any such modification or amendment is sought.

15.16    Counterparts. This Agreement may be executed and delivered by the Parties in counterparts, each of which shall be deemed an original and both of which, together, shall constitute one and the same instrument. Facsimile or other electronically delivered copies of signature pages to this Agreement shall be treated between the Parties as original signatures for all purposes.

		
	15.17
	Disputes.

(a)    Duty to Notify. In the event of any dispute, controversy, or claim arising out of or relating to this Agreement or the construction, interpretation, performance, breach, termination, enforceability or validity thereof (hereinafter, a “Dispute”), the Party raising such Dispute shall notify the other Party promptly and no later than one-hundred eighty (180) days from the date of its discovery of the Dispute. If a Party fails to notify the other Party of a Dispute relating to a T- Mobile Customer Account, transaction statements or any other similar matter within one- hundred eighty (180) days of the date of the discovery of the Dispute, then the matter shall be deemed to be undisputed and accepted by the Party attempting to raise the Dispute.

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(b)    Cooperation to Resolve Disputes. The Parties shall cooperate and attempt in good faith to resolve any Dispute promptly by negotiating between persons who have authority to settle the Dispute and who are at a higher level of management than the persons with direct responsibility for administration and performance of the provisions or obligations of this Agreement that are the subject of the Dispute.

(c)    Arbitration. Any Dispute which cannot otherwise be resolved as provided in paragraph (b) above shall be resolved by arbitration conducted in accordance with the commercial arbitration rules of the American Arbitration Association, and judgment upon the award rendered by the arbitral tribunal may be entered in any court having jurisdiction thereof. The arbitration tribunal shall consist of a single arbitrator mutually agreed upon by the Parties, or in the absence of such agreement within thirty (30) days from the first referral of the dispute to the American Arbitration Association, designated by the American Arbitration Association. The place of arbitration shall be New York, NY, unless the Parties shall have agreed to another location within fifteen (15) days from the first referral of the dispute to the American Arbitration Association. The arbitral award shall be final and binding. The Parties waive any right to appeal the arbitral award, to the extent a right to appeal may be lawfully waived. Each Party retains the right to seek judicial assistance: (i) to compel arbitration, (ii) to obtain interim measures of protection prior to or pending arbitration, (iii) to seek injunctive relief in the courts of any jurisdiction as may be necessary and appropriate to protect the unauthorized disclosure of its proprietary or confidential information, and (iv) to enforce any decision of the arbitrator, including the final award. In no event shall either Party be entitled to punitive, exemplary or similar damages.

(d)    Confidentiality of Proceedings. The arbitration proceedings contemplated by this Section 15.17 shall be as confidential and private as permitted by law; provided, however, that either Party is permitted to disclose the proceedings to accountants, legal counsel and professional advisors. To that end, the Parties shall not disclose the existence, content or results of any proceedings conducted in accordance with this Section 15.17, and materials submitted in connection with such proceedings shall not be admissible in any other proceeding, provided, however, that this confidentiality provision shall not prevent a petition to vacate or enforce an arbitral award, and shall not bar disclosures required by any laws or regulations.

15.18    Headings and Construction. The various captions and section headings in this Agreement are included for convenience only and shall not affect the meaning or interpretation of any provision of this Agreement. Notwithstanding anything to the contrary, in all cases, the use of the term “including” shall be construed as being inclusive and shall be deemed to mean “including, without limitation,”.

[Signature Page Follows]

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IN WITNESS WHEREOF, this Agreement is executed by the Parties’ authorized officers or representatives and shall be effective as of the date first above-written.
	
					
	T-MOBILE USA, INC. (COMPANY)
	 
	CUSTOMERS BANK (CUBI)

	By:
	/s/ [***]
	 
	By:
	/s/ [***]

	Name:
	[***]
	 
	Name:
	[***]

	Title:
	[***]
	 
	Title:
	[***]

	Date:
	2/23/2017  |  7:48 PM PST
	 
	Date:
	February 24, 2017

APPROVED AS TO FORM
/s/  [***]                               
T-MOBILE LEGAL

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EXHIBIT A COMPANY REVENUE

On a monthly basis, Bank shall prepare a compilation of revenue and expense items associated with the Program as set forth in this Exhibit A and shall provide detailed reports to the Company by the fifteenth (15th) day following the month in which the Program was operated and the T-Mobile Financial Services were provided.  Amounts due to Bank will be paid in accordance with Section 9.4 of the Agreement.  Amounts due to Company will be paid in accordance with Section 9.5 of the Agreement.

Company shall be compensated by Bank as follows:

[***]

[***]

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EXHIBIT B

FEE SCHEDULE

	
				
	 
	 
	 
	 

	Card Production

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	Transaction Fees

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

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	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
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	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	 
	[***]

	[***]
	[***]
	[***]
	[***]

	Alerts

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

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	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	[***]

	[***]
	[***]
	[***]
	 

	[***]
	[***]
	[***]
	[***]

-    [***]

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EXHIBIT C

SERVICE LEVEL AGREEMENTS

Service Level Implementation: The provisions in this Exhibit C shall be measured on a going-forward basis beginning [***] after the Launch Date. Bank, at all times during the Term, shall comply with the service levels set forth in the table below (each, a “Service Level”).

Service Level Assumptions:

1.Each Service Level set forth in the table below is expressed as a simple average and is measured on a monthly basis.

2.Response time for electronic authorizations shall exclude any authorizations requiring manual intervention and shall exclude transaction transmission time.

3.T-Mobile Customer Account applications that Bank is reviewing under special circumstances requiring manual intervention, such as a fraudulent T-Mobile Customer Account application, shall not be included in the measurement of performance.

4.Any Service Level failure that is the result of a Force Majeure Event shall be excluded from consideration in measuring compliance with this Exhibit C.

5.If a single event causes more than one Service Level failure during a month, such event shall be deemed a single failure for purposes of this Exhibit C.

6.If Company does not provide Bank with sufficient advance notice of changes in its systems and such changes cause Bank to miss a Service Level for the period, the Service Level will not be deemed to have been failed.

7.Both Parties acknowledge and agree that Company-driven changes to [***] could potentially alter [***]. If such changes occur, the Parties agree [***].

Bank shall report to Company, on a monthly basis and in a mutually agreed format, Bank’s performance under each of the Service Levels set forth in this Exhibit C.

Service Failure Payments:

If Bank fails to meet any Critical Service Level in any [***], then no later than the [***] of the following month, Bank shall deliver to Company a report detailing the reason(s) for such failure and a corrective action plan. Bank shall implement such corrective action plan as soon as practicable but no later than [***].  Bank shall deliver to Company a second report, [***], assessing the preliminary results of the plan.  During any twelve (12)

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month period, the month immediately following Bank’s initial failure to meet any Service Level shall be a cure month (“Cure Month”) [***]. If Bank fails to meet the same Service Level more than once during any twelve (12) month period [***], Company will be eligible for a Performance Credit in the amount corresponding to the magnitude of the failure to meet the Service Level for the second and each subsequent time during such twelve (12) month period.

By way of illustration, if Bank’s Critical Service Level is [***], the difference between the target Service Level of [***] and the actual Service Level would be [***] and Bank would pay a Performance Credit in the amount of [***] for the Service Level failure of the Non- Critical Service Level. [***]; provided, that in the event of the foregoing, Company shall have the right to terminate the Agreement.

Table of Payments for Service Level Failures

	
				
	 
	Difference in Target Service Levels from Actual Service Levels Achieved in
Basis Points

	 
	[***]
	[***]
	[***]

	Critical Service Level Contact Center
	[***]
	[***]
	[***]

	Critical Service Level Non-Contact Center
	[***]
	[***]
	[***]

	Non-Critical Service Level
	[***]
	[***]
	[***]

Determination of Bank Events of Default Due to Service Level Failures

		
	•
	The following failures shall each constitute a “Service Level Termination Event”: A failure to meet the same Critical Service Level being more than [***] below the target for [***]; or

		
	•
	A failure to meet any combination of one or more Critical Service Levels [***].

Company may only exercise its termination rights in respect of any Service Level Termination Event if the applicable Service Level failure(s) has a material adverse effect on the Program or on Company in Company’s reasonable judgment. [***].

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Service Levels:

	
			
	KEY PERFORMANCE METRIC
	SERVICE LEVEL REQUIREMENT/GOAL/TARGET
	CATEGORY

	Average speed of calls answered
	[***]
	[***]

	Abandoned call rate
	[***]
	[***]

	Call blockage
	[***]
	[***]

	Application response turnaround
	[***]
	[***]

	Initial Card or Card replacement turnaround time (this does not include expired cards which will be mailed in batch, 3 weeks in advance of the expiration date)
	[***]
	[***]

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	 	KEY PERFORMANCE METRIC
	SERVICE LEVEL REQUIREMENT/GOAL/TARGET
	CATEGORY

	 	T-Mobile Customer inquiry turnaround time (paper/email)
	[***]
	[***]

	 
	 
	 	Card authorization times
	[***]
	[***]

	 	Card authorization availability
	[***]
	[***]

	 	Website and application uptime
	[***]
	[***]

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	KEY PERFORMANCE METRIC
	SERVICE LEVEL REQUIREMENT/GOAL/TARGET
	CATEGORY

	Dispute resolution
	[***]
	[***]

	Transaction posting
	[***]
	[***]

	Statement production
	[***]
	[***]

	Statement accuracy
	[***]
	[***]

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EXHIBIT D
BANK DUTIES
1.Bank shall administer the Program and provide the T-Mobile Financial Services subject to and in accordance with the Agreement and Applicable Law.

2.Approval of Prospective T-Mobile Customers.  Bank shall use best efforts, based on mutually agreed upon criteria, to approve prospective T-Mobile Customers that are existing customers of Company to participate in the Program.

(a)    Applications. Bank shall process all complete T-Mobile Customer Account applications from prospective T-Mobile Customers. Bank shall be responsible for making all decisions regarding the approval of T-Mobile Customer Account applications; provided, that, Bank shall use standards that are at least as favorable to the approval of applications submitted in connection with the Program as the standards used by Bank in connection with prospective Bank customers and with other programs administered or operated by Bank in determining whether to approve T-Mobile Customer Account applications in connection with the Program.  Company acknowledges that Bank has the authority to approve applications and establish T-Mobile Customer Accounts; provided, however, that if Bank’s approval rate for all completed T-Mobile Customer Account applications is below [***] (the “Approval Rate”) for any calendar quarter and does not meet or exceed the Approval Rate in the following calendar quarter, then the Parties shall meet promptly to discuss, in good faith, reasonable adjustments that can be made to meet or exceed the Approval Rate.  If the Parties do not agree upon reasonable adjustments, then Company may terminate the Agreement without penalty. In the event of the foregoing, Bank shall be obligated to provide Transition Assistance Services in accordance with the Agreement.

(b)    Service Lines.  Bank shall use standards in connection with the Program that are at least as favorable as the standards used by Bank in connection with Bank’s customers and with other programs administered or operated by Bank with respect to establishing available products and services and, to the extent applicable, the amount of such products and services, for prospective T-Mobile Customers.

3.Service Level Agreements.  Bank shall provide and administer the Program and the T-Mobile Financial Services in accordance with the Service Levels in Exhibit C. Bank represents and warrants that such Service Levels are at least as favorable as the service level agreements by which Bank abides in connection with Bank’s customers and to which Bank agrees in connection with other programs administered or operated by Bank.

4.Bank Reporting Requirements.  Bank shall track the metrics set forth in Exhibit I and such other metrics as may be requested by Company from time to time and shall provide to Company the reports set forth in Exhibit I, including any raw data (except for personally identifiable information) requested by Company, in a form acceptable to Company and at the frequency specified in Exhibit I.

5.Risk and Fraud Management.  Bank shall be responsible for establishing a program to monitor and reduce risk and fraud in connection with the Program.

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6.Inactive Account Closures. Bank will implement an account closure process that is consistent with Applicable Law and industry best practices to manage fraud losses.  Each of Bank and Company acknowledge and agree that this process may change from time to time upon mutual agreement of the Parties. As of the Effective Date, the Parties agree that the current process will be as follows:

(a)    T-Mobile Customer Accounts that have had no balance and no activity for [***] or more will be closed. After [***] of no balance and no activity, the T-Mobile Customer will be notified by Bank that the T-Mobile Customer Account has had no balance and no activity for [***], and that the T-Mobile Customer Account will be closed if the zero balance and inactivity persists for another [***]. After [***] of no balance and no activity, the T-Mobile Customer will be notified by Bank that, as a result of the T-Mobile Customer Account having no balance and no activity for a period of [***], the T-Mobile Customer Account has been closed.  Bank shall establish a simple reinstatement process that will allow T-Mobile Customers to reinstate their T-Mobile Customer Accounts and deposit any amounts, within the established limits of the Program, in their T-Mobile Customer Accounts through the Mobile Application.

(b)    T-Mobile Customer Accounts that have had a balance of less than [***] and no activity for [***] or more will be closed and a check in the amount of the remaining balance in the T-Mobile Customer Account will be mailed to the T- Mobile Customer’s last known address. After [***] of a balance of less than [***] and no activity, the T-Mobile Customer will be notified by Bank that the T-Mobile Customer Account will be closed if the balance remains below [***] and the inactivity persists for another [***].  After [***] of a balance of less than [***] and no activity, the T-Mobile Customer will be notified by Bank that the T-Mobile Customer Account will be closed if the balance remains below [***] and the inactivity persists for another [***].  After [***] of a balance of less than [***] and no activity, the T-Mobile Customer will be notified by Bank that, as a result of the T-Mobile Customer Account having a balance of less than [***] and no activity for a period of [***], the T-Mobile Customer Account has been closed and a check for the remaining balance will be mailed to the T-Mobile Customer’s last known address. Bank shall establish a simple reinstatement process that will allow T-Mobile Customers to reinstate their T-Mobile Customer Accounts and deposit the check received by the T-Mobile Customer or any other amounts, within the established limits of the Program, in their T-Mobile Customer Accounts through the Mobile Application.

7.Core Account Management and Services. Bank shall provide core T-Mobile Customer Account management and services as further described in this Section 7.

		
	(a)
	General.

(i)    Bank shall obtain any and all information and data from T-Mobile Customers necessary to provide the T-Mobile Financial Services in a manner that is secure and that will enable [***]

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[***]. Bank shall be responsible for proper accounting of all transactional activity through the T-Mobile Customer Accounts, including: (i) [***].

(ii)    Bank shall provide or otherwise facilitate [***] functionality in connection with the Program.

(iii)    Bank shall provide or otherwise facilitate [***] in connection with the Program.

(iv)    Bank shall provide or otherwise facilitate [***], as mutually agreed by Company and Bank.

(v)    Bank shall provide [***] in accordance with industry standards.

(vi)    Bank may provide access to other financial products and services, [***] as may be requested and mutually agreed by the Parties from time to time.

(vii)    Bank shall service T-Mobile Customer Accounts and Cards and shall provide any and all related services in connection therewith, including, without limitation, direct and indirect T-Mobile Customer support related to T-Mobile Financial Services in accordance with the Service Levels in Exhibit C.

(viii)    At Company’s request and expense, Bank shall provide [***] any other reasonable activity as may be requested and mutually agreed by the Parties from time to time.

		
	(b)
	FDIC Insurance.

(i)    Bank shall create and maintain Deposit Accounts with certain features [***], as determined by Company from time to time, and offer such Deposit Accounts to T-Mobile Customers in connection with the Program. Bank shall hold T-Mobile Customers’ funds in T-Mobile Customer Accounts in a manner that complies with Applicable Law [***].

(ii)    [***]

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	(c)
	Payment Card Networks.

(i)    Bank shall maintain, at all times, its status as a participant and member in the payment card networks as necessary and appropriate to properly administer the Program and provide the T-Mobile Financial Services, [***].

(ii)    Bank shall issue Cards enabled on the payment card networks selected by Company to T-Mobile Customers in accordance with the rules of the payment card networks. Bank shall produce all Cards issued to T-Mobile Customers in connection with any T-Mobile Customer Account, subject to Company’s approval and in accordance with the payment card network rules and requirements.

(iii)    Bank shall be responsible for: (1) decisioning all Card authorizations initiated by T-Mobile Customers based on the funds available in such T-Mobile Customer Account; (2) maintaining and managing all Cards, both prior to and after the issuance of, such Cards; and (3) managing all aspects of security in connection with such Cards, including allowing T-Mobile Customers to select and change their password identification numbers (“PINs”) from time to time; in each case, in accordance with the payment card network rules and requirements.

(iv)    Bank shall be responsible for managing any and all aspects of Card  activity in connection with any T-Mobile Customer Account, including for authorizing, clearing, and settling transactions in connection with the Program and for compliance with the payment card network rules and requirements.

8.Bank Provision of Back Office Support. Bank shall provide [***] in connection with the Program in accordance with commercially reasonable standards or as otherwise agreed by the Parties.

9.Bank shall be responsible for maintaining procedures for the identification of each new T-Mobile Customer upon the establishment of a T-Mobile Customer Account within a reasonable time thereafter as required by Applicable Law. Such procedures shall be designed to comply with the requirements of the federal Bank Secrecy Act, the federal USA PATRIOT Act, any regulations adopted pursuant to such acts, as well as applicable regulations of the Office of Foreign Assets Control.

10.Digital Services. Bank shall develop and maintain a digital banking platform (the “Digital Banking Platform”) in accordance with the technical specifications (as mutually agreed by the Parties in connection with the Program, and in accordance with Exhibit F.

(a)    The Digital Banking Platform shall be developed and maintained to function across multiple digital and mobile platforms and shall include, at a minimum, (i) an online banking offering (the “Online Offering”) and (ii) a mobile banking offering (the “Mobile Offering”). Company reserves the right, in its sole discretion, to select the set of products and features offered by the Bank (the “Product and Feature Set”) that shall be developed and maintained in connection with the Digital Banking Platform and to change, from time to time,

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the Product and Feature Set described in Exhibit F offered to T-Mobile Customers.  Company may integrate third-party services into the Digital Banking Platform; provided, that, such integration is permitted by Applicable Law and is consistent with commercially reasonable security standards.

(b)    Bank agrees that, in connection with the Online Offering and the Mobile Offering, Bank shall make available, on a non-discriminatory basis, and implement any and all software, applications, specification standards, software development kits, application programming interfaces, and any related documentation to Company and/or to any third-party service providers designated by Company.  Bank shall be responsible for managing and implementing any and all aspects of the interfaces in connection with the Online Offering and the Mobile Offering and the payment card networks.  Bank shall be obligated to provide the information and materials required pursuant to this Subsection (b) regardless of whether Company’s Product and Feature Set could compete with any of Bank’s then-current Product and Feature Sets or future Product and Feature Sets. For the avoidance of doubt, Bank shall be under no obligation to provide Company with Bank’s source code.

(c)    Bank agrees that, in connection with the Online Offering and the Mobile Offering, Bank shall develop and maintain a mobile application to be used in connection with the Program (the “Mobile Application”) in accordance with the design specifications provided by Company. Bank further agrees that the Mobile Application shall be made available to T-Mobile Customers through multiple mobile application stores, [***]. Bank shall develop and maintain the capabilities necessary to provision Cards to any and all mobile wallets designated by Company from time to time, [***] (collectively, the “Mobile Wallets”). Bank shall develop and maintain integration into the Mobile Wallets, as agreed upon by all parties, to enable a T-Mobile Customer to use the Mobile Wallets [***] upon activating and funding a T-Mobile Customer Account. Bank shall deliver to T-Mobile Customers the [***].

(d)    The Parties shall develop, implement and maintain the customer activation process (the “Customer Activation Process”) for new T-Mobile Customers. The Customer Activation Process may be updated or amended from time to time upon mutual agreement by the Parties. The Parties further agree that they will jointly work to develop a method by which they may leverage existing data, in a secure manner, held by Company to pre-qualify prospective T-Mobile Customers for participation in the Program.

(e)    Program Testing.  The Parties agree that they will launch a beta version of the Program (the “Beta Version”) [***] of the Effective Date (the “Beta Program”), the purpose of which is to ensure that the Digital Banking Platform is commercially ready and operationally functional in accordance with the Agreement.  The Parties

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agree that, as a condition precedent to launching the Beta Program, the Beta Version must be delivered to and accepted by Company. Upon delivery of the Beta Version to Company, Company shall accept or reject the Beta Version within [***].  If Company accepts the Beta Version, the Parties will launch the Beta Version to designated employees of Company and Bank, as mutually agreed by the Parties. If Company rejects the Beta Version, Company shall notify Bank of such rejection and shall describe, in reasonable detail, Company’s reason(s) for rejecting the Beta Version (the “Rejection Notice”).  Upon receiving the Rejection Notice, Bank shall make any modifications necessary to address Company’s concerns and shall deliver the updated Beta Version to Company within [***] and Company shall approve or reject the updated Beta Version within [***] after receiving the updated Beta Version.  The Parties shall repeat this process until Company has accepted the Beta Version.  If Bank fails to deliver the agreed upon features and functionality set forth in Exhibit F in the Beta Version, or if Company rejects the Beta Version, and Bank fails to remedy any issue(s) identified in the Rejection Notice within [***], then Company may terminate the Agreement immediately without penalty. Bank shall operate the Beta Program for a period of [***] or for such longer period as may be mutually agreed by the Parties. The Parties shall agree on a process for monitoring the Beta Program and for identifying and correcting any issues with the Beta Version; provided, that, Bank shall be required to correct any issue(s) with the Beta Version (including by implementing any fixes) within [***] of identifying such issue(s). Bank shall be responsible for monitoring the Beta Program and for identifying any issues uncovered through the operation of the Beta Program within [***] of identifying any such issues.

11.Bank will annually obtain and deliver to Company, at Bank’s sole expense, a Statement on Standards Attestation Engagement (SSAE) No. 16 Service Organization Controls (SOC) No.1 Type II, the international equivalent (ISAE 3204 Type II report), or an industry equivalent report agreed to by Company for any services performed or outsourced by Bank that are financially relevant to Company (including, without limitation, transaction processing or data-center management). The scope of any report will include control testing of both Bank’s and any third party’s information technology systems and any material reports provided to Company and will cover [***]. A full copy of the annual SSAE 16 SOC1 Type II or industry equivalent report will be provided to Company no later than [***]. In response to an inquiry from Company [***], a representative from Bank will provide a bridge letter indicating that there have not been any material changes in the internal controls described in the most recent SOC1 Type II report since it was issued or any significant deficiencies in the design or effectiveness of Bank’s internal controls and procedures that would require any corrective action.

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EXHIBIT E
ACCOUNT LOSS [***]
	
					
	Account Loss [***]
	Account Losses in 
Percentages [***]
	[***]
	[***]

	Tier 1
	[***]
	[***]
	[***]
	[***]

	Tier 2
	[***]
	[***]
	[***]
	[***]

	Tier 3
	[***]
	[***]
	[***]
	[***]

For purposes of this Exhibit E, “Account Loss” or “Account Losses” means “losses, net of recovery, from fraud, disputed items, return deposits, forced card transactions, and reclamations in connection with Card and T-Mobile Customer Account activity.

[***]

[***]

Notwithstanding anything to the contrary, the measurement period for Account Losses will be the [***] thereafter (each, a “Measurement Period”).  At the end of a Measurement Period, the Parties will review the Account Losses [***].

The Parties agree to meet [***] to review performance of the Account Losses [***].

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EXHIBIT F

FEATURES AND FUNCTIONALITY

	
				
	Timeframe
	Table Stakes
	Mobile-First
	[***]

	Launch (see above)
	 Availability:
 Bank’s mobile application will available to be delivered within various mobile App stores 
 Account Management:
•    [***]
•    View balance
•    View transaction history
•    Search for transactions
•    [***]
•    View statements
•    View basic account info [***]
Money In/Money Out:
•    Debit card
•    [***]

•    [***]

•    [***]

•    [***]

•    [***]

•    [***]

•    [***]

•    [***]

	 Account Access:
•    [***]
•    [***]
•    [***]
•    [***]

 Activation/Enrollment:
•    Streamlined [***] enrollment [***] for checking and savings accounts
•    [***]
•    [***]
•    [***]
•    [***]

Money In/Out:
•    Mobile wallet provisioning (virtual or physical card)
•    [***]
•    [***]
•    [***]
•    [***]
•    [***]
•    [***]

 Alerts:
•    [***]
•    [***]
•    [***]
•    [***]

	[***]

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	•    [***]
•    [***]
•    [***]
•    [***]
•    Access & security alerts
•    [***]
•    [***]
Self Service:
•    Activate debit card
•    [***]
•    [***]
•    Secure messaging center
•    Contact us (with preloaded contact information)
•    Update name, address, phone, email
•    Add account nicknames
•    [***]
•    Suppress paper statements
•    [***]
•    Privacy policy
•    Disclosures
•    Other legal agreements
•    FAQs
•
	 

	Launch + 4 months
	[***]
	[***]
	[***]

                                                                
1     Bank will use best efforts to provide this functionality prior to its scheduled launch.

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	[***]
	[***]

	Launch +8 months
	 
	Self-Service:
•    [***]
	[***]

2  These features are excluded from the exclusivity requirements in Section 15.4(b).

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EXHIBIT G

DESCRIPTION OF [***] CUSHION

The basic outline of the feature would be as follows:

[***]

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EXHIBIT H INTENTIONALLY BLANK

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EXHIBIT I 

REPORTING

		
	(a)
	Bank shall provide the following daily reports or digital information:

		
	(i)
	Bank shall provide reports with respect to the amount of deposits, the number of transactions conducted by a T-Mobile Customer, and any other relevant metrics.

		
	(ii)
	Bank shall provide reports that detail the number and nature of complaints and customer service calls that Bank receives in connection with any Account.

		
	(iii)
	Bank shall provide reports that detail any unusual, unauthorized, or suspicious activity or transactions involving Accounts.

		
	(iv)
	Bank shall provide reports to monitor Program performance, key operating and risk metrics, service levels, and marketing effectiveness.

		
	(v)
	Bank shall provide reports that detail the number of Account applications submitted, the number of Account applications approved, the number of Account applications denied, and the number of new Accounts generated by channel.

		
	(vi)
	Bank shall provide reports that detail the total number of open accounts, the total number of closed accounts, and the total number of active accounts and such reports shall provide a breakdown of this information by Company subscribers and non-subscribers (i.e., a separate report for subscribers and a separate report for non-subscribers).

		
	(vii)
	Bank shall provide any other management reports, as mutually agreed by the Parties.

		
	(viii)
	Bank shall provide reports related to the Digital Banking Platform and application reporting, including, without limitation, with respect to performance, usage, and other relevant metrics.

		
	(ix)
	Bank shall provide reports related to the support provided to T-Mobile Customers, including, without limitation, the number of open and closed trouble tickets, any relevant open issues, and other support issues.

		
	(x)
	Bank shall provide reports in connection with revenue and expense performance, business performance, compliance performance, and any other relevant performance measures.

		
	(b)
	In addition to the reports required under Section (a) of this Exhibit I, Bank shall

(i) create and deliver separate weekly statistical information about volumes related to the

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program, (ii) provide, by the third (3rd) business day of the following month, end of month reports to enable Company to accrue for activity occurring in the then-current month, and (iii) provide by the seventh (7th) business day a prior month revenue and expense reports to Company (“Revenue and Expense Reports”).  The Revenue and Expense Reports: (1) shall report gross amounts; (2) shall not net any line items; (3) shall support funds received (i.e., grossed-up reporting should match ACH amounts); (4) shall not include any customer-level information; and (5) shall separate revenue and expenses by Company subscribers and non-subscribers.  Each revenue item or fee identified in the Revenue and Expense Reports shall be a separate line item with the amount of the revenue or fee, as applicable, and the method for calculating the amount (i.e., per unit amount, counts, rates, number of days, etc.).

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EXHIBIT J

SECURITY SAFEGUARDS, COMPANY INFORMATION, AND CARDHOLDER INFORMATION

Capitalized terms used but not defined in this Exhibit J shall have the meanings ascribed to such terms in the Agreement.

“Applicable Privacy and Data Security Laws” means all privacy, security, data protection, direct marketing, consumer protection, and workplace privacy laws, rules, and regulations and all then-current industry standards, guidelines, and practices with respect to privacy, security, data protection, direct marketing, consumer protection, or workplace privacy, including the collection, processing, storage, protection, and disclosure of personal information.

“Company Information” means any information [***].

1.Handling of Company Information.

1.1.    Bank: (a) [***]; (b) will, without limiting any other obligations applicable to Company Information, treat and protect all Company Information as Confidential Information owned (as between Bank and Company) by Company and the Agreement regardless of whether Bank receives it directly from Company, Company affiliates, or any of its or their customers, designees, intermediaries, or other third parties; and (c) will ensure that all persons who have access to Company Information [***].

1.2.    Bank will comply with all Applicable Privacy and Data Security Laws and will not cause Company to be in violation of any Applicable Privacy and Data Security Laws.

1.3.    Bank will comply with all written privacy and security policies of Company upon execution of the Agreement or, in the case of future or updated policies, [***], subject to Section 2.4 below.

1.4.    If Bank has access to or possesses (including as a result of de-identification of Company Information by Bank) any De-Identified Data (as defined below), Bank covenants that

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[***].  “De-Identified Data” means Company Information that has been scrubbed, hashed, encrypted, or otherwise obscured to remove any personally identifiable information.

1.5.    [***].

1.6.    For clarity, Bank’s compliance with any particular provision of this Exhibit J will not relieve Bank’s obligation to protect Company Information and other Confidential Information of Company under all provisions of the Agreement, including this Exhibit J.

		
	2.
	Security Safeguards.

2.1.    Bank shall be fully responsible for any authorized or unauthorized collection, storage, disclosure, use of, and access to Company Information under its control or made available to Bank under the Agreement.  Bank will prevent any collection, storage, disclosure, use of, or access to Company Information not expressly authorized by the Agreement. Without limiting Bank’s other obligations under this Exhibit J, Bank will implement and maintain a comprehensive and effective written information security program appropriate to the nature of the Company Information that: (a) [***] (“Safeguards”), (b) meets industry best practices for such Safeguards, and (c) complies with all Applicable Privacy and Data Security Laws.  Bank will (i) [***], (ii) [***], and (iii) [***]. Company reserves the right to review, upon request, Bank’s policies, procedures, and practices used to maintain the privacy, security, and confidentiality of Company Information.

2.2.    Bank shall, while this Agreement is in effect, prepare and maintain an information and physical security program in connection with the Program in accordance with the requirements of its Regulatory Authority and Applicable Law. [***]. Bank shall periodically test such information security infrastructure as required by Applicable Law and its Regulatory Authority and as appropriate and prudent in light of the nature and scope of the

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activities and operations of Bank and its obligations hereunder.

2.3.    Bank will: (a) [***]; (b) [***]; (c) [***]; (d) [***]; (e) [***]; (f) [***]; (g) [***]; and (h) [***].

2.4 Changes to Security Program.  Bank will, [***] update its security program and operations (including network and business systems and software) as necessary for ongoing compliance with the Agreement. Such updates will include updates to: (a) [***], (b) [***], (c) maintain current compliance with Applicable Privacy and Data Security Laws, and (d) meet new legal or regulatory requirements under other Applicable Law. To the extent a change in Bank practices is required [***], any changes to Bank’s security program or other operations in connection with the Program will be made in accordance with the requirements of Bank’s Regulatory Authority. To the extent additional controls or mitigation plans are required to correct a security vulnerability within Bank Systems (as defined below), identified by a security audit or are required by Applicable Law (including changes in Company policies adopted to comply with Applicable Law), such steps will [***].

		
	3.
	Security Breaches.

3.1.    Bank represents and warrants that: (a) [***] (each, a “Security Breach”); and (b) if the Bank Systems have suffered [***] Security Breaches, that Bank has disclosed each Security Breach to Company in writing. Bank represents and warrants that [***].

3.2.    Bank will notify Company [***] if Bank learns that there has been any actual Security Breach that may impact Company Information.  In any notification

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to Company required under this Section 3.2, Bank will [***]. Bank will: (a) [***]; and (b) [***]. Bank will [***]. Unless prohibited by Applicable Law or court order, Bank will [***].  Except as required by Applicable Law, (x) [***], and (y) [***] (e.g., [***]) [***].

4.Bank Risk Management Review, Annual Security Audits & Visitation and Inspection Rights.

4.1.    Bank Risk Management Review.  Company reserves the right to require Bank to complete Company’s Bank Risk Management Review (“SRMR”) process [***].

4.2.    Previous Security Audits.  Bank hereby represents and warrants that Bank Systems have been the subject of [***] information security audits conducted by internal employees that report directly to the Bank’s Board of Directors or, if externally prepared, by a qualified, independent and nationally recognized third party. Bank further represents and warrants that it will share with Company the non-confidential results of the most recent audit and will communicate any steps taken to remedy potential or actual vulnerabilities.  Bank hereby represents and warrants that either: (a) [***]

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[***]; or (b) [***].

4.3.    Future Security Audits. [***], Bank will procure, [***], security audits of the Bank Systems, control activities, and processes established and maintained by Bank, including any third-party data centers utilized by Bank. Each such audit will be carried out by an independent registered public accounting firm nationally recognized in the United States and reasonably acceptable to Company, and will conform to the requirements for a SOC2 Type II audit, as set forth in the Statement on Standards for Attestation Engagements No. 16 published by the American Institute of Certified Public Accountants (a “Security Audit”).  Bank will provide Company with the results of each Security Audit within thirty (30) days of completion (or upon request), including: (a) whether the Security Audit revealed any material findings in the Bank Systems, and (b) if so, the nature of each finding discovered.  If the Security Audit reveals [***], Bank will [***]. Bank will complete all critical corrections within a reasonable timeframe of completion of the Security Audit. Notwithstanding anything in the Agreement to the contrary, Company may terminate the Agreement [***] if Company determines that any material deficiency identified in any Security Audit creates an unacceptable level of risk for Company, its employees, or its customers. In such event, [***]. Bank will give Company a full copy of the reports on which the Security Audit is based and such reports will be treated as Confidential Information of Bank. Bank will also give Company a management representation letter stating that, to the knowledge of Bank management after reasonable investigation, there have been no changes to the control environment between the date of the management representation letter and the date of the Security Audit. [***] between the period covered by the tests of controls and the delivery of the Security Audit. Bank’s failure to procure the Security Audit or to complete corrections in a timely manner will  be a material breach of the Agreement.

4.4.    Visitation and Inspection Rights. Company or its authorized representatives, which may not be a competitor of the Bank, may, at any time upon reasonable notice to Bank, visit any or all locations of the Bank to inspect the Bank’s due diligence for Bank Systems and to assess Bank’s performance of its obligations under this Exhibit J, and Bank will share with Company any information reasonably requested by Company in connection with due diligence of Bank’s third party service providers involved with Bank Systems. For purposes of such an inspection, Bank will grant to Company and its representatives reasonable access, during normal business hours, to the Bank and to Program-related books, records, procedures, and information that relate to Bank’s performance under this Exhibit J, including any Program information Company deems reasonably necessary to ascertain any facts that relate to Bank’s performance hereunder. If: (a) Company determines in connection with any such inspection that Bank has failed to perform any of its material obligations under this Exhibit J, and (b) Company notifies Bank in writing of Bank’s breach of this Exhibit J, then Bank will, [***], develop a corrective action plan in cooperation with Company. The corrective action plan will not limit Company’s rights to terminate this Agreement in accordance with its terms.  Bank will then have

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[***]. Failure to rectify a material failure will be considered a material breach. In addition, Bank’s obligation to develop a corrective action plan and remediate any failure to perform its obligations under this Exhibit J will survive termination or expiration of this Agreement until such corrective action is deemed complete by Company. Such plan will include timeframes for completion and will be subject to Company’s reasonable approval and Bank will promptly implement such plan [***]. These inspection and corrective action rights supplement, and in no way limit, Company’s other rights under the Agreement.

4.5.    Application Security Testing. The Bank will, [***]. Bank will [***], Company may hire a mutually agreed-upon, independent third party to conduct additional testing in which Bank will submit the software or any applications with access to Company Information to security testing by the independent third party provider. Bank will cooperate with such application security testing, including by making appropriate arrangements for secure access to the application’s functional software (not source code) if reasonably required. If security testing reveals a vulnerability in the software (or any portion thereof), Bank will correct such vulnerability within the agreed upon reasonable timeframes. The mutually agreed upon independent third party provider or Bank will determine the vulnerability level for purposes of this Section 4. Bank’s failure to correct a vulnerability will be considered a material breach of the Agreement.

		
	5.
	Access to Company Information.

5.1.    Promptly upon Company’s request, Bank will provide Company with access to or delivery of Company Information, or any portion thereof identified by Company, being stored, processed, or transmitted or otherwise in Bank’s possession or control or that of its agent or subcontractor, in a form and format requested by Company.

5.2.    Bank will [***] notify Company in writing of (a) any inquiry received by Bank or its subcontractor from any individual relating to, among other things, the individual’s right to access, modify, or correct Company Information and (b) any complaint received by Bank or its subcontractor relating to the processing of Company Information. Bank will [***] comply and fully cooperate with all instructions of Company with respect to any action taken with respect to such inquiry or complaint.

5.3.    Before allowing or enabling a subcontractor or agent to have access to Company Information, Bank must evaluate and validate the subcontractor’s or agent’s capabilities to maintain the security of Company Information in accordance with the Agreement.

		
	6.
	Security of Cardholder Information.

6.1.    For purposes of this Section 6, “Cardholder Information” means “any individual numbers used to identify credit or debit card or other similar card accounts or other personally identifiable information relating to the use of Cards, including the full primary account number, cardholder name, expiration date, service code, track data (from the magnetic stripe or equivalent

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on a chip), PINs, or PIN blocks.

6.2.    PCI Standards.  Bank represents, warrants, and covenants that Bank is presently in compliance with and will remain, at all times during and after the Term during which Bank stores, processes, or transmits Cardholder Information, in compliance with the most recent effective versions of all rules, regulations, standards, and guidelines adopted or required (a) by any entity offering or supporting payment card networks whose Cardholder Information is handled by Bank, and (b) by the Payment Card Industry Security Standards Council (the “Council”), in each case, relating to privacy, data security, or the safeguarding, disclosure, or handling of Cardholder Information, including the Payment Card Industry Data Security Standards, the Payment Card Industry’s Payment Application Data Security Standard, the Payment Card Industry’s PIN Transaction Security requirements, Visa’s Cardholder Information Security Program and Payment Application Best Practices, American Express’s Data Security Operating Policy, MasterCard’s Site Data Protection Program and POS Terminal Security program, and the analogous security programs implemented by other payment card networks, in each case, as amended, updated, replaced, or augmented from time to time (the standards described in this clause (c) being collectively referred to as the “PCI Standards”). Bank will, [***], perform all tasks, assessments, reviews, penetration tests, scans, and other activities required under the PCI Standards (including any compliance guidance related to the PCI Standards issued by the Council, its subordinate bodies, or any successors thereto) and otherwise to validate Bank’s compliance during the Term with the PCI Standards. To the extent that Bank is hosting a system or application which is Internet facing, its PCI attestation of compliance must be performed by a qualified security assessor. Bank will deliver to Company copies of all documentation necessary to verify compliance with these requirements (“Verification Documentation”). In the event Company reasonably determines that additional Verification Documentation is required under the PCI Standards or likely to be so required to verify such compliance, including a “Report on Compliance,” and an associated unqualified “Attestation of Compliance,” then, upon Company's request [***], Bank will provide such additional Verification Documentation to Company [***] from Company's request, or the timeframe required for Company to remain compliant, whichever is less. [***], Bank will deliver to Company a copy of the Verification Documentation, applicable to the Cardholder Information environment [***]. [***], Bank will deliver to Company, [***], evidence of a passing vulnerability scan applicable to the Cardholder Information environment conducted within [***]. Bank will [***] notify Company in writing of any exception in a Report on Compliance, Attestation of Compliance, or [***] vulnerability scan if Bank learns that it is no longer PCI Standards compliant or if it reasonably anticipates that it is or will be non-compliant. Such notification will include, in detail, the steps being taken by Bank to remediate such exception or non-compliance.

6.3.    Bank will not commit any act or omission that causes Company to violate the PCI Standards or to be fined, sanctioned, or penalized for the failure to properly protect, secure, maintain, use, or store Cardholder Information, including by any payment card network, the Council, merchant banks, or any other third party.

		
	6.4.
	Bank is solely responsible for the security of Cardholder Information that Bank or

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its personnel or subcontractors stores, possesses, transmits or controls.

6.5.    Bank will access, use, and disclose Cardholder Information only as and to the extent necessary to: (a) process and otherwise facilitate credit and debit transactions on Company's behalf; (b) comply with Applicable Laws, PCI Standards, payment card network rules and requirements, and written Company policies; and (c) as otherwise instructed in writing by an authorized by an officer of Company.

6.6.    If there is a known Security Breach of Cardholder Information within the Bank’s Systems, Bank will notify its Regulatory Authority and then Company, and then, as quickly as reasonably possible, provide to Company a list of the compromised T-Mobile Accounts as well as any other information reasonably requested by Company. Bank will work with payment card networks, merchant banks, and any of their respective agents and designees to remediate the situation to minimize financial loss and Bank will cooperate fully with any investigation, verification, testing, and review of Bank’s compliance with the PCI Standards. This Section 6.6 does not limit Section 3 of this Exhibit.

7.Cybersecurity Cooperation. Each Party acknowledges the importance of cooperating with the other Party with respect to issues related to cybersecurity and agrees to work with the other Party to establish a cybersecurity partnership team to share insight and best practices, as appropriate, for the mutual benefit of the Parties and for the benefit of the Program. The Parties agree that the cybersecurity partnership team will meet [***].

8.Entire Exhibit. If there is any conflict or inconsistency between this Exhibit J and any provision of the Agreement, such conflict or inconsistency will be resolved by giving precedence to this Exhibit J.

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EXHIBIT 14.6

DT MARKS AND COMPANY MARKS

DT MARKS

T

T-Mobile

<color magenta>

<Telekom acoustic mark>

T-Mobile (logos)

COMPANY MARKS

El [***]

The [***]

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EXHIBIT 14.7 STANDARDS

	
			
	#
	MARK
	GOODS/SERVICES

	IDENTIFICATION OF GOODS/SERVICES

	General Banking Services (IC36):  Banking and financial services; digital banking services; online banking services; retail banking services; commercial banking services; ATM banking services; banking consultation; savings and deposits; loans and lending; bill pay services; credit card and debit card services; lines of credit; consulting and technological services in the field of financial technology (FinTech), FinTech innovation, banking and financial services, digital banking, and mobile and online payment platforms; providing information in the fields of banking and financial services; administering electronic disbursement of funds for others; and related services

	FinTech/White Label (IC42):  Software as a service (SaaS) featuring software to allow users to perform electronic banking and financial exchange transactions via a global computer network; providing temporary use of online non-downloadable software to allow users to perform electronic banking and financial exchange transactions via a global computer network; providing temporary use of on-line non-downloadable white label software to allow users to perform electronic financial exchange transactions via a global computer network; software design, development, and customization, and development of white-label software for others, all in the field of financial technology (FinTech); cloud computing and software services, namely, providing white label cloud solutions to others in the field of financial technology (FinTech); [cloud computing and software services, namely, designing, developing, implementing and maintaining backup and disaster recovery plans for others in the field of FinTech NOTE: Do you want to include this service?]; and related services

	Software (IC9): Computer application software for the provision of banking and financial services; and related goods

	1
	BankMobile (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); AND Software (IC9)

	2
	BANKMOBILE
	General Banking Services (IC36), FinTech/White Label (IC42); AND Software (IC9)

	3
	BankMobile (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); AND Software (IC9)

	4
	BankMobile (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); AND Software (IC9)

	5
	BANKMOBILE TECHNOLOGIES
	General Banking Services (IC36), FinTech/White Label (IC42); AND Software (IC9)

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	#
	MARK
	GOODS/SERVICES

	6
	BANKMOBILE LABS
	General Banking Services (IC36), FinTech/White Label (IC42); AND Software (IC9)

	7
	BankMobile LABS (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); AND Software (IC9)

	8
	BANKMOBILE VIBE
	General Banking Services (IC36)

	9
	BankMobile VIBE (logo)
	General Banking Services (IC36)

	10
	BankMobile VIBE (logo)
	General Banking Services (IC36)

	11
	BankMobile VIBE (logo)
	General Banking Services (IC36)

	12
	BankMobile VIBE (logo)
	General Banking Services (IC36)

	13
	Bankmobile Bold
	General Banking Services (IC36)

	14
	Bankmobile Bold (logo)
	General Banking Services (IC36)

	15
	Bankmobile Bold (logo)
	General Banking Services (IC36)

	16
	BANKMOBILE DISBURSEMENTS
	General Banking Services (IC36), FinTech/White Label (IC42); and Software (IC9)

	17
	BankMobile Disbursements (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); and Software (IC9)

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	#
	MARK
	GOODS/SERVICES

	18
	CurrentCash
	General Banking Services (IC36)

	19
	POWERED BY BANKMOBILE
	General Banking Services (IC36), FinTech/White Label (IC42); and Software (IC9)

	20
	POWERED BY BANKMOBILE (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); and Software (IC9)

	21
	BankMobile (logo)
	General Banking Services (IC36)

	22
	BankMobile (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); and Software (IC9)

	23
	BankMobile (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); and Software (IC9)

	24
	BankMobile (logo)
	General Banking Services (IC36), FinTech/White Label (IC42); and Software (IC9)

	25
	BMPowered University (logo)
	General Banking Services (IC36)

	26
	BMPowered University (logo)

	27
	BMPowered University (logo)

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SCHEDULE 8.1(h)

APPROVED THIRD PARTY SERVICE PROVIDERS

	
		
	Relationship: Relationship Name
	Brief Description

	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

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	Relationship: Relationship Name
	Brief Description

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

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	Relationship: Relationship Name
	Brief Description

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

	[***]
	[***]

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