Document:

Employment & Consulting Agreement - Edward A. Hjerpe, III

 Exhibit 10.1 
 EMPLOYMENT AND CONSULTING AGREEMENT 
 (Interim Chief Executive Officer) 
 THIS EMPLOYMENT AND CONSULTING AGREEMENT (“Agreement”) is made and entered into as of September 25, 2008 by and among Strata Bank,
a bank chartered under the laws of Massachusetts with its headquarters located in Medway, Massachusetts (the “Bank”), Service Bancorp, MHC, a mutual holding company chartered under the laws of Massachusetts (the
“MHC”), Service Bancorp, Inc., a corporation chartered under the laws of Massachusetts (the “Company” and together with the MHC, the “Holding Companies” and together with the MHC and the Bank, the
“Companies”) and Edward A. Hjerpe, III (the “Executive”). 
 In consideration of the mutual promises,
terms, provisions and conditions set forth in this Agreement, the parties hereby agree as follows: 
 1. Engagement. Subject to the
terms and conditions set forth in this Agreement, the Companies hereby engage the Executive to provide the services specified in Section 3, and the Executive hereby accepts such engagement by the Companies. 
 2. Term. The Executive’s engagement to perform consulting services as described in Section 3 shall commence effective September 23,
2008 and shall terminate on the earlier to occur of (a) the date the Executive’s employment by the Companies hereunder becomes permissible under FDIC regulations and (b) the date this Agreement is terminated pursuant to
Section 5. The Executive’s employment hereunder shall commence on the date the Executive’s employment by the Companies hereunder becomes permissible under FDIC regulations and continue until the effective date of termination pursuant
to Section 5. The term of this Agreement (the “Term”) shall commence effective September 23, 2008 and continue until the effective date of termination pursuant to Section 5. 
 3. Services. 
 (a) Duties.
During the period in which the Executive is consulting to the Companies, the Executive shall perform such strategic, management, financial and other consulting services as the Boards of Directors of each of the Companies (the
“Boards”) shall determine; provided, however, that the Executive shall not perform the duties of a senior executive officer until such time as such service becomes permissible under FDIC regulations. During the period in which the
Executive is employed by the Companies, the Executive shall serve as a senior executive officer of the Companies, initially with the title “Interim Chief Executive Officer” of each Company. As Interim Chief Executive Officer, the Executive
shall have, subject to the authority of the Boards, general charge and supervision of the business operations of the Companies and in general shall perform all duties incident to the office of chief executive officer, and other related and similar
services as the Boards or any of them may request from time to time. Notwithstanding anything else in this Agreement, if, during the Term, the Companies’ President and Chief Executive Officer returns from leave and is fit for duty, then
Executive’s authority to act as Interim Chief Executive Officer, if applicable, shall automatically cease, in which case the Executive shall serve as Interim Chief Operating Officer of the Companies and have such authority and responsibility as
the Boards shall designate. 

 (b) Other Clients and Responsibilities. The Companies acknowledge and agree that the Executive
performs consulting services for two existing clients (the “Other Clients”) and serves on the board of directors of three companies (the “Board Services”), which Other Clients and Board Services are listed on
Exhibit A hereto. During the Term, without the prior written consent of the Chairman of the Board of the Board of Directors of the Company (the “Board Chair”), the Executive agrees not to enter into or perform any other employment
agreement, or any consulting or similar arrangement except for this Agreement and any agreement with the Other Clients. The Executive may continue to perform the Board Services. 
 (c) Fulfillment of Duties. The Executive hereby agrees (i) to perform all services hereunder in a professional and workmanlike manner, and
(ii) to work from the Company’s executive office an average of four days per week. Subject to the foregoing, the Executive may also work from home as necessary or appropriate. The Executive agrees to notify the Board Chair at least one
business day in advance if the Executive will be absent from the Company’s offices for more than two consecutive business days. 
 (d)
Board Observation. The Executive may be present at meetings of the Boards and shall receive in such observer capacity a copy of all notices, minutes, consents and other material that any of the Companies provides to the Boards, subject to the
provisions of Section 7 hereof. The Executive acknowledges and agrees that the Executive shall not have the right to vote on any matter at any meetings. Each of the Companies, in its sole discretion, reserves the right to exclude the Executive
from all or part of any meeting of the Boards and to limit access of the Executive to any information made available to members of the Boards with respect to the Executive’s performance hereunder or potential appointment as a permanent
executive, to maintain a legal privilege with respect to information of any of the Companies, to preserve or protect the exercise of any of the Board’s fiduciary duties or to avoid a possible conflict of interest. 
 4. Compensation and Business Expenses. As compensation for all services performed by the Executive for the Companies during the Term, and subject
to performance of the Executive’s duties and obligations, pursuant to this Agreement and otherwise, the Bank shall pay to the Executive the following: 
 (a) Cash Compensation. For each two-week payroll cycle (each, a “Cycle”), $18,461.54, subject to reduction as hereinafter described, except for the Executive’s first and last Cycles,
payment for which shall be based on the number of days the Executive performed services under this Agreement during such Cycle multiplied by $1,920. The Executive shall submit an invoice for each Cycle indicating the number of Credits (as defined
below) to be applied for such Cycle. The Bank shall pay such invoice in accordance with its standard payroll practice and procedure, which currently provides that if the Executive submits the invoice on the last business day of a Cycle, the Bank
will pay such invoice on the Wednesday thereafter. If the Executive works on the Companies’ business, in his capacity hereunder on any business day, for less than half of a standard eight-hour business day because the Executive is working on
Other Client matters, the Executive shall credit the Companies $960 for each such half-day, and if the Executive works a full standard business day on Other Client matters, the Executive shall credit 

  

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the Companies $1,920 for each such business day (each, a “Credit”, all of which shall be reflected on the invoice for such Cycle).

 (b) Expenses. The Companies shall pay or reimburse the Executive for all reasonable and necessary business expenses, including
mileage for traveling to and from the Companies’ executive offices in Franklin according to the Companies’ standard mileage reimbursement policies, incurred or paid by the Executive in the performance of his duties and responsibilities
hereunder, subject to such reasonable substantiation and documentation as may be specified by the Companies from time to time. 
 (c) Long
Term Stock Award. The Company will grant to the Executive on the first day of the Executive’s employment hereunder a Restricted Stock Award, pursuant to the Company’s Amended and Restated 1999 Stock Option Plan (the
“Plan”) and subject to an award agreement entered into by the Company and the Executive, of 10,000 shares of the Company’s common stock (the “Long Term Award”). The Long Term Award shall vest in twenty-four
monthly installments, the first twenty-three of which shall be 415 shares each, and the final installment of which shall be 455 shares, with the first installment vesting on the first day of the month following the month in which Executive’s
employment shall commence and succeeding installments vesting on the first day of each calendar month thereafter, subject to the terms of the Long Term Award. 
 (d) Second Step Stock Award. If the MHC files a plan of reorganization providing for the conversion of the MHC from mutual to stock form, and in connection therewith, the resulting entity files a registration
statement with respect to its common stock with the Securities and Exchange Commission (“Second Step SEC Filing”), the Company will grant to the Executive within 15 business days of the Second Step SEC Filing a Restricted Stock
Award, pursuant to the Plan and subject to an award agreement entered into by the Company and the Executive, of 2,000 shares of Company common stock (the “Second Step Stock Award”). The Second Step Stock Award shall vest in
twenty-four monthly installments, the first twenty-three of which shall be 83 shares each, and the final installment of which shall be 91 shares, with the first installment vesting on the first day of the first calendar month subsequent to the grant
of the Second Step Stock Award and succeeding installments vesting on the first day of each calendar month thereafter, subject to the terms of the Second Step Stock Award. 
 (e) Exclusive Compensation. The Executive’s compensation as described in the foregoing sections (a) through (d) shall be the
exclusive form of compensation to which the Executive shall be entitled in consideration of his services under this Agreement. Without limiting the foregoing, the Executive shall not be entitled to participate in any bonus or other incentive pay
arrangement maintained by the Companies. The Executive waives his rights, if any, to participate in, and shall not participate or receive benefits under, any qualified and non-qualified retirement, pension, savings, deferred compensation and
profit-sharing plans, any group life, health (including hospitalization, medical and major medical), dental, accident and long-term disability insurance plans, vacation pay, severance pay, or any other employee benefit and compensation plan as may
from time to time be maintained by, or cover employees of, the Companies (“Benefit Plans”) notwithstanding any terms and conditions of such Benefit Plans to the contrary. Without limiting the foregoing, the Executive hereby waives
all rights to 

  

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participate in and accrue benefits under any and all Benefit Plans and agrees to take all acts and execute all instruments that may be requested by the
Companies in connection with such waiver. 
 (f) Taxation of Payments and Benefits. The Companies shall undertake to make deductions,
withholdings and tax reports with respect to payments and benefits under this Agreement to the extent that it reasonably and in good faith believes that it is required to make such deductions, withholdings and tax reports. Payments under this
Agreement shall be in amounts net of any such deductions or withholdings. Nothing in this Agreement shall be construed to require the Companies to make any payments to compensate the Executive for any adverse tax effect associated with any payments
or benefits or for any deduction or withholding from any payment or benefit. 
 (g) Allocation of Compensation Expense Among the
Companies. The Companies shall allocate among them the expense associated with the compensation and benefits payable to the Executive hereunder, which allocation shall be made in accordance with the Inter-Company Tax and Expense Allocation
Policy, if any, then in effect, or in the absence of such a policy, equitably as the Boards shall reasonably determine. 
 5. Termination
of Services. The Executive’s engagement hereunder shall terminate under the following circumstances: 
 (a) Termination by
Executive. The Executive may terminate his engagement hereunder at any time upon thirty (30) days prior written notice to the Company. In that event, the Companies shall pay to the Executive any fees and expenses accrued through the
date of termination and shall not have any further obligation or liability to the Executive. 
 (b) Termination by the Companies without
Cause. The Companies may terminate this Agreement without Cause (as defined below) at any time upon fifteen (15) days prior written notice to the Executive. In that event, the Companies shall pay to the Executive the sum of (i) any
fees and expenses accrued through the date of termination, and (ii) $20,000, and shall not have any further obligation or liability to the Executive. 
 (c) Termination by the Companies in the event of the Executive’s Death. In the event of the Executive’s death during the term hereof, the Executive’s engagement hereunder shall immediately and
automatically terminate. In that event, the Companies shall pay to the Executive’s estate any fees and un-reimbursed business expenses accrued through the date of death that may be payable to the Executive following his death pursuant to
Section 4 herein. 
 (d) Termination by the Companies for Cause. The Companies may terminate the Executive’s engagement
hereunder for Cause at any time upon notice to the Executive setting forth in reasonable detail the nature of such Cause. The following, as determined by the Boards in their reasonable and good faith judgment, shall constitute Cause for termination:
(i) the commission by or indictment of the Executive for (A) a felony, or (B) any misdemeanor involving moral turpitude, deceit, dishonesty or fraud (“indictment” for these purposes, meaning an indictment, probable cause
hearing or any other procedure pursuant to which an initial determination of probable or reasonable cause with respect to such offense is made), (ii) failure to perform to the reasonable satisfaction of any of the Boards a substantial portion
of the 

  

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Executive’s duties and responsibilities assigned or delegated under this Agreement, which failure continues, in the reasonable judgment of such Board,
after written notice given to the Executive by such Board, (iii) gross negligence, willful misconduct or insubordination of the Executive with respect to the Companies, or (iv) material breach by the Executive of any of the provisions of
this Agreement. Upon the giving of notice of termination of the Executive’s engagement hereunder for Cause, the Companies shall not have any further obligation or liability to the Executive, other than for fees earned and unpaid and
un-reimbursed business expenses outstanding at the date of termination. 
 6. Effect of Termination. Upon termination pursuant to
Section 5, all obligations and provisions of this Agreement shall terminate except with respect to any accrued and unpaid monetary obligations, and except for the provisions of Section 7 through (and inclusive of) Section 12 hereof,
which shall survive termination. Notwithstanding anything to the contrary in this Agreement, the Executive shall not be entitled to any termination benefit under this Agreement unless the Executive (i) enters into a valid and irrevocable
release of all claims against the Companies and any affiliate of the Companies, in a form then reasonably acceptable to the Companies, (ii) resigns from any and all positions that the Executive then holds with the Companies and any affiliate of
the Companies, and (iii) complies with the covenants set forth in Section 7. 
 7. Executive’s Covenants. 

(a) Confidential Information. The Executive understands and agrees that the Executive’s engagement hereunder creates a relationship of
confidence and trust between the Executive, on the one hand, and the Companies, on the other hand, with respect to all Confidential Information (as defined below). At all times, both during the Term and after the termination of the Executive’s
engagement hereunder for any reason, the Executive shall keep in confidence and trust all such Confidential Information and, except as required by law, shall not use or disclose any such Confidential Information other than for the benefit of the
Companies, as the case may be, without the written consent of the Companies. 
 (b) Documents and Records. All documents, records,
data, apparatus, equipment and other physical property, whether or not pertaining to Confidential Information, that are furnished to the Executive by the Companies or are produced by the Executive in connection with the Executive’s engagement
hereunder will be and remain the sole property of the Companies. The Executive will return to the Companies all such materials and property as and when requested by either of them. In any event, the Executive will return all such materials and
property immediately upon termination of the Executive’s engagement hereunder for any reason. 
 (c) Nonsolicitation. At
all times while the Executive is consulting to or employed by the Companies, and for a period of six (6) months after termination for any reason, the Executive (i) shall refrain from, directly or indirectly, recruiting or otherwise
actively soliciting, inducing or influencing any person to leave employment with any of the Companies or any of their respective affiliates and (ii) shall refrain from actively soliciting or encouraging any customer or supplier to terminate or
otherwise modify adversely its business relationship with 

  

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the Companies or any of their respective affiliates other than actions taken by the Executive in good faith in the ordinary course of business during the
course of the Executive’s engagement hereunder. Nothing contained in this Section 7(c) shall restrict the Executive from advertising employment opportunities to the general public or from hiring individuals who have not been directly or
indirectly actively solicited, induced or influenced by the Executive to leave employment with the Companies or any of their respective affiliates. 
 (d) Non-Disparagement. During and after the Term, the Executive agrees that he shall not make any false, defamatory or disparaging statements about any of the Companies, any of their affiliates or any of their officers or directors.

 (e) Acknowledgement. The Executive acknowledges and further agrees that the restrictions set forth in this Section 7 are
intended to protect the Companies’ interest in its Confidential Information and established employee, customer and supplier relationships and goodwill, and agrees that such restrictions are reasonable and appropriate for this purpose. The
Executive further acknowledges and agrees that any breach of this Section 7 shall warrant and justify any remedy available to the Companies at law or in equity. 
 8. Conflicting Agreements. The Executive hereby represents and warrants that the execution of this Agreement and the performance of his obligations hereunder will not breach or be in conflict with any other
agreement to which the Executive is a party or is bound and that the Executive is not subject to any covenants against competition or similar covenants that would affect the performance of his obligations hereunder. The Executive will not disclose
or use any proprietary information of a third party without such party’s consent. 
 9. Definitions. Words or phrases which are
initially capitalized or are within quotation marks shall have the meanings provided in this Section 9 and as provided elsewhere herein. For purposes of this Agreement, the following definitions apply: 
 (a) “Confidential Information” means information belonging to any of the Companies or any of their affiliates that is of value to the
Companies in the course of conducting their business and the disclosure of which could result in a competitive or other disadvantage to any of them. Confidential Information includes, without limitation, financial information, reports, and
forecasts; inventions, improvements and other intellectual property; trade secrets; know-how; designs, processes or formulae; software; market or sales information or plans; customer lists; and business plans, prospects and opportunities (such as
possible acquisitions or dispositions of businesses or facilities) that have been discussed or considered by the management of the Companies. Confidential Information includes information developed by the Executive in the course of the
Executive’s engagement hereunder, as well as other information to which the Executive may have access in connection with the Executive’s engagement. Confidential Information also includes the confidential information of others, including
suppliers and customers, with which any of the Companies has a business relationship. Notwithstanding the foregoing, Confidential Information does not include information in the public domain, unless due to breach of the Executive’s duties
under Section 7(a) of this Agreement. 
  

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 (b) “Person” means an individual, a corporation, an association, a partnership, an
estate, a trust and any other entity or organization. 
 10. Indemnification; Insurance. 
 (a) Indemnification. To the maximum extent permitted under applicable law, the Companies shall indemnify the Executive against and hold him
harmless from any costs, liabilities, losses and exposures that may be incurred by the Executive in his capacity as an employee of the Companies or arising from his consulting services to the Companies as described in this Agreement. The provisions
of this Section 10 shall survive the termination of this Agreement. 
 (b) Insurance. During the Term, the Companies shall cause
the Executive to be covered by and named as an insured under any policy or contract of insurance obtained by the Companies to insure the Companies’ directors and officers against personal liability for acts or omissions in connection with
service as an officer or director of the Companies or service in other capacities at the request of the Companies. The coverage provided to the Executive pursuant to this Section 10 shall be of the same scope and on the same terms and
conditions as the coverage (if any) provided to other officers or directors of the Companies or any successors. 
 11. Limitation on
Payments. It is the intention of the Companies and the Executive that no payments by the Companies to or for the Executive’s benefit under this Agreement or any other agreement or plan pursuant to which the Executive is or has been entitled
to receive payments or benefits of any kind or nature in the past, now or in the future from the Companies shall be non-deductible to the applicable Company by reason of the operation of Section 280G of the Internal Revenue Code of 1986, as
amended, relating to parachute payments. Accordingly, notwithstanding any other provision of this Agreement or any such other agreement or plan, if by reason of the operation of said Section 280G, any such payments exceed the amount which can
be deducted by the applicable Company, such payments shall be reduced to the maximum amount which can be deducted by the applicable Company. 
 12. Miscellaneous. Neither the Companies nor the Executive may make any assignment of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of the other; provided, however, that
the Companies may assign their rights and obligations under this Agreement without the consent of the Executive in the event that the Companies shall hereafter effect a reorganization, consolidate with, or merge into, any other Person or transfer
all or substantially all of its properties or assets to any other Person. This Agreement shall inure to the benefit of and be binding upon the Companies and the Executive, and their respective successors, executors, administrators, heirs and
permitted assigns. If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in
circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. Any and all
notices, requests, demands and other communications provided for by this Agreement shall be in writing and shall be effective when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, and addressed to
the Executive at his last known address 

  

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on the books of the Companies or, in the case of the Companies, at the Bank’s principal place of business, to the attention of the Board Chair, or to
such other address as either party may specify by notice to the other actually received. This Agreement constitutes the entire agreement between the parties with respect to its subject matter and supersedes all prior communications, agreements and
understandings, written or oral, with respect to the terms and conditions of the Executive’s consulting relationship with the Companies. This Agreement may be amended or modified, and provisions herein waived, only by a written instrument
signed by the Executive and by an expressly authorized representative of each of the Companies. The headings and captions in this Agreement are for convenience only and in no way define or describe the scope or content of any provision of this
Agreement. This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. This Agreement shall be construed and enforced under and be governed in
all respects by the laws of the Commonwealth of Massachusetts and in accordance with applicable federal law. 
 [Remainder of Page
Intentionally Blank; Signature Page Follows] 
  

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 IN WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by the parties as of the date
first above written. 
  

					
	EXECUTIVE	 	STRATA BANK
			
	 /s/ Edward A. Hjerpe, III
	 	By:	 	 /s/ Eugene R. Liscombe

	Edward A. Hjerpe, III	 		 	Eugene R. Liscombe
		
		 	SERVICE BANCORP, INC.
			
		 	By:	 	 /s/ Eugene R. Liscombe

		 		 	Eugene R. Liscombe
		
		 	SERVICE BANCORP, MHC
			
		 	By:	 	 /s/ Eugene R. Liscombe

		 		 	Eugene R. Liscombe

 Exhibit A 
 Other Clients 
 1. Federal Home Loan Bank of Seattle 
 2. Smith Breeden Associates 
 Board Services 
 1. St. Anselm College 
 2. Dental Service of Massachusetts Inc. (d/b/a Delta Dental of Massachusetts) 
 3. United Way of Greater Fall River, MAAmendment No. 6 to Credit Agreement

 Exhibit 10.1 
 AMENDMENT NO. 6 TO CREDIT AGREEMENT AND WAIVER 
 This Amendment No. 6 to Credit Agreement and
Waiver (“Amendment”) executed as of November 13, 2008 by and between Software Brokers of America, Inc., a Florida corporation (“Company”) and Comerica Bank (“Bank”). 
 RECITALS: 
 A. Company and Bank entered into
that certain Credit Agreement dated August 25, 2005, as previously amended (“Agreement”). 
 B. Company and Bank desire to
amend the Agreement as set forth below. 
 C. Company has requested that Bank waive certain existing Events of Default. 
 NOW, THEREFORE, Company and Bank agree as follows: 
 1. Company has advised Bank that it failed to comply with the provisions of Sections 6.11 and 6.12 of the Agreement for its fiscal quarter ending September 30, 2008 (the “Covenant Violations”). Company has requested that the
Bank waive any Event of Default under the Agreement resulting from the Covenant Violations. Bank hereby waives any Event of Default under the Agreement resulting from the Covenant Violations. This waiver shall not be deemed to amend or alter in any
respect the terms and conditions of the Agreement or any of the other Loan Documents, or to constitute a waiver or release by the Bank of any right, remedy or Event of Default under the Agreement or any of the other Loan Documents, except to the
extent specifically set forth herein. 
 2. The definition of “Borrowing Base” set forth in Section 1 of the Agreement is
amended to read as follows: 
 “‘Borrowing Base’ shall mean, as of any date of determination, an amount equal to the sum of
(i) eighty-five percent (85%) of Eligible Accounts, plus (ii) the Applicable Percentage of the amount equal to ninety percent (90%) of Eligible Insured Foreign Accounts, plus (iii) the lesser of (A) an amount
equal to the sum of (1) sixty percent (60%) of Eligible Inventory plus (2) sixty percent (60%) of the aggregate undrawn face amount of outstanding Eligible Commercial Letters of Credit, or (B) $14,000,000. In no case may the
Borrowing Base include reliance on account of both the Eligible Inventory purchased with an Eligible Commercial Letter of Credit and the Eligible Commercial Letter of Credit”. 
 3. The definition of “Revolving Credit Maturity Date” set forth in Section 1 of the Agreement is amended to read as follows: 

“Revolving Credit Maturity Date” shall mean the earlier of (i) January 1, 2010 or (ii) the date on which the Revolving
Commitment shall terminate in accordance with the provisions of this Agreement. 

 4. The definition of “Revolving Credit Note” set forth in the Agreement is amended to read as
follows: 
 “‘Revolving Credit Note’ shall mean the Revolving Credit Note dated November 13, 2008 made in the principal
amount of $30,000,000 by Company payable to Bank, as may be amended, restated, supplemented or replaced from time to time, a copy of which is annexed hereto as Exhibit ‘B’.” 
 5. Section 2.4 of the Agreement is amended to read as follows: 
 “2.4 The Revolving Credit Note shall mature on the Revolving Credit Maturity Date. Interest on the principal amount from time to time outstanding under the Revolving Credit Note shall accrue at the rate and
shall be calculated and payable as set forth in the Revolving Credit Note.” 
 6. Section 2.5 of the Agreement is amended to
read as follows: 
 “2.5 [Intentionally deleted.]” 
 7. Section 2.6 of the Agreement is amended to read as follows: 
 “2.6 [Intentionally deleted.]” 
 8. Section 2.8 of the Agreement is amended to read as
follows: 
 “2.8 The aggregate principal amount at any time outstanding under the Revolving Credit Note plus the aggregate undrawn
amount of Letters of Credit (and the unpaid amount of any draws or other demands for payment under any Letters of Credit) shall never exceed the lesser of (i) the Revolving Credit Commitment Amount, and (ii) the Borrowing Base. Company
shall immediately make all payments necessary to comply with this provision.” 
 9. Section 2.9 of the Agreement is amended to
read as follows: 
 “2.9 [Intentionally deleted.]” 
 10. Section 2.10 of the Agreement is amended to read as follows: 
 “2.10 [Intentionally deleted.]” 
 11. Section 2.11 of the Agreement is amended to read
as follows: 
 “2.11 [Intentionally deleted.]” 
 12. Sections 3.1 through 3.6 of the Agreement are amended to read as follows: 
 “3.1 [Intentionally
deleted.] 
  

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 3.2 [Intentionally deleted.] 
 3.3 [Intentionally deleted.] 
 3.4
[Intentionally deleted.] 
 3.5 [Intentionally deleted.] 
 3.6 [Intentionally deleted.]” 
 13. Section 6.1(e) of the Agreement is amended to read as follows: 
 “(e) within ten (10) days after the end of
each month, a borrowing base certificate in the form annexed hereto as Exhibit “C”, with appropriate insertions certified by an authorized officer of Company as being correct and accurate to the best of such officer’s knowledge; and
on Monday of each week and as of the close of business on the prior Friday, a weekly update to the borrowing base certificate in the form annexed hereto as Exhibit “C-1”, with appropriate insertions certified by an authorized officer of
Company as being correct and accurate to the best of such officer’s knowledge; and” 
 14. Section 6.4 of the Agreement is
amended to read as follows: 
 “6.4 Permit Bank, through its authorized attorneys, accountants, and representatives, to examine
Company=s books, accounts, records, ledgers and assets of every kind and description at all reasonable times during normal business hours upon oral or written request of Bank, including, without limitation, (i) semi-annual Collateral audits at
Company’s sole expense, provided, that Company shall only be obligated to pay the expenses for two such Collateral audits per year unless an Event of Default has occurred and is continuing and (ii) appraisals of Company’s inventory by
a third party appraiser acceptable to Bank, provided, that Company shall only be obligated to pay the expenses for such appraisal once every other year (commencing in 2008) unless an Event of Default has occurred and is continuing.”

 15. Section 7.11 of the Agreement is amended to read as follows: 
 “7.11 Make or allow to remain outstanding any Investment except the following permitted Investments (all of the exceptions set forth below being
subject to the provisions of Section 7.13 of this Agreement): 
 (a) Investments of cash in cash equivalents and any
extensions, renewals or reinvestments thereof; 
 (b) sales of inventory on open account (or otherwise on credit) and in the
ordinary course of business and Investments in the form of notes or other similar instruments evidencing or supporting the obligation of an Account Debtor received in connection with such sales; 
  

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 (c) deposits made in the ordinary course of business in order to obtain goods or services;

 (d) existing Investments described in attached Schedule 7.11 and any extensions, renewals or reinvestments thereof (excluding any
increases thereof); 
 (e) Investments received in settlement of amounts due or owing to Company as a result of insolvency proceedings
or other disputes involving an Account Debtor or upon the foreclosure or enforcement of any lien in favor of Company; 
 (f) loans
and advances to employees of Company that constitute Investments so long as the aggregate amount outstanding does not exceed US$75,000 at any time; 
 (g) loans to the Guarantor; and 
 (h) additional Investments not to exceed US $100,000 in the
aggregate.” 
 16. Any reference to the term “Prime-based Rate” in the Agreement shall mean the rate then applicable under
the Revolving Credit Note. 
 17. Exhibit “B” of the Agreement is amended to read in the form annexed hereto as Exhibit
“B”. Exhibit “C-1” is added to the Agreement to read in the form of Exhibit “C-1” annexed hereto. 
 18.
Company shall furnish Bank within 45 days after and as of December 31, 2008, (i) a balance sheet and statement of profit and loss and surplus reconciliation of Company for Company’s fiscal year ending on such date, certified by an
authorized officer of Company as being correct and accurate to the best of his knowledge, and (ii) a covenant compliance report satisfying the requirements of Section 6.6 of the Agreement. Nothing set forth in this paragraph shall modify
in any respect Company’s obligations to provide Bank with a detailed audit report for such fiscal year as and when set forth in Section 6.1(a) of the Agreement as required under Section 6.6 of the Agreement. 
 19. Company will reimburse the Bank for all costs and expenses, including reasonable attorneys’ fees, incurred by the Bank in connection with the
preparation of this Amendment and the documents, instruments and agreements executed in connection herewith. 
 20. The amendments and waiver
contained herein shall be effective upon execution of this Amendment by Company and Bank, receipt by Bank of all other loan documents, if any, listed on the Closing Agenda of even date herewith duly executed by the parties thereto and payment of the
fee required under paragraph 8 above. 
 21. Except as modified hereby, all of the terms and conditions of the Agreement shall remain in full
force and effect, the liability of the Company howsoever arising or provided for in the Agreement, as hereby modified or amended, is hereby reaffirmed. 
  

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 22. The Company hereby represents and warrants that, after giving effect to the amendments and waiver
contained herein; (a) execution, delivery and performance of this Amendment and any other documents and instruments required under this Amendment or the Agreement are within Company’s corporate powers, have been duly authorized, are not in
contravention of law or the terms of Company’s Articles of Incorporation or Bylaws, and do not require the consent or approval of any governmental body, agency, or authority; and this Amendment and any other documents and instruments required
under this Amendment or the Agreement, will be valid and binding in accordance with their terms; (b) the continuing representations and warranties of Company set forth in Sections 5.1 through 5.5 and 5.7 through 5.15 of the Agreement are true
and correct on and as of the date hereof with the same force and effect as made on and as of the date hereof; (c) the continuing representations and warranties of Company set forth in Section 5.6 of the Agreement are true and correct as of
the date hereof with respect to the most recent financial statements furnished to the Bank by Company in accordance with Section 6.1 of the Agreement; and (d) no Event of Default (as defined in the Agreement), or condition or event which,
with the giving of notice or the running of time, or both, would constitute an Event of Default, has occurred and is continuing as of the date hereof. 
 23. Company hereby waives, discharges, and forever releases Bank and the Bank’s employees, officers, directors, attorneys, stockholders and successors and assigns (collectively, the “Released Parties”),
from and of (i) any and all claims, causes of action, allegations or assertions that Company and/or Intcomex has or may have had against any or all of the Released Parties arising under or in connection with the financial arrangements between
Company under Agreement and/or any of the other Loan Documents (as defined in the Credit Agreement) at any time up through and including the date of this Amendment, and (ii) any and all other claims, causes of action, allegations or assertions
that Company has or may have had against any or all of the Released Parties at any time up through and including the date of this Amendment, and which are known to Company (collectively, the “Known Claims”), regardless if any
such Known Claims arose as a result of Bank’s actions or omissions in connection with the financial arrangements between Company and Bank, any amendments, extensions, or modifications thereto, or Bank’s administration of those financial
arrangements. 
 WITNESS the due execution hereof on the date and year first above written. 
  

									
	COMERICA BANK	 		 	SOFTWARE BROKERS OF AMERICA, INC.
					
	By:	 	/s/ Mark Koszyk	 		 	By:	 	/s/ Anthony Shalom
		 	Mark Koszyk	 		 		 	Anthony Shalom
					
	Its:	 	Senior Vice President	 		 	Its:	 	President

  

 5 

 Acknowledgement 
 The above Amendment is hereby acknowledged by the undersigned Guarantor as of November 13, 2008: 
  

			
	INTCOMEX, INC.
		
	By:	 	/s/ Anthony Shalom
		 	Anthony Shalom
		
	Its:	 	CEO

  

 6 

 EXHIBIT “B” 
 THIS REVOLVING CREDIT NOTE RENEWS, EXTENDS AND/OR MODIFIES THAT CERTAIN $30,000,000 REVOLVING CREDIT NOTE DATED AUGUST 17, 2007 BY SOFTWARE BROKERS OF AMERICA, INC. PAYABLE TO COMERICA BANK, WHICH RENEWED,
EXTENDED, INCREASED AND/OR MODIFIED THAT CERTAIN $27,500,000 REVOLVING CREDIT NOTE DATED MAY 17, 2007 BY SOFTWARE BROKERS OF AMERICA, INC. PAYABLE TO COMERICA BANK WHICH RENEWED, EXTENDED, INCREASED AND/OR MODIFIED THAT CERTAIN $25,000,000 REVOLVING
CREDIT NOTE DATED AUGUST 25, 2005 BY SOFTWARE BROKERS OF AMERICA, INC. PAYABLE TO COMERICA BANK, EVIDENCING AN ORIGINAL PRINCIPAL AMOUNT OF $25,000,000. IN CONNECTION WITH THE ISSUANCE OF THE $25,000,000 REVOLVING CREDIT NOTE, FLORIDA DOCUMENTARY
STAMP TAX IN THE AMOUNT OF $2450 WAS PAID DIRECTLY TO THE FLORIDA DEPARTMENT OF REVENUE CERTIFICATE OF REGISTRATION NO. 38-0477375-16-01. NO ADDITIONAL DOCUMENTARY STAMP TAX IS DUE ON THIS NOTE. 
 REVOLVING CREDIT NOTE 
  

			
	$30,000,000	  	November 13, 2008

 On or before the Maturity Date, FOR VALUE RECEIVED, the undersigned promise(s) to pay to the order of COMERICA
BANK (herein called “Bank”), at any office of the Bank in the State of Michigan, the principal sum of THIRTY MILLION DOLLARS ($30,000,000), or so much of said sum as has been advanced and is then outstanding under this Note, together with
interest thereon at the Daily Adjusting LIBOR Rate, except during any period of time during which, in accordance with the terms and conditions of this Note, the Indebtedness hereunder shall bear interest at the Prime-based Rate. 
 This Note is a note under which advances, repayments and re-advances may be made from time to time, subject to the terms and conditions of this Note and the Credit
Agreement. AT NO TIME SHALL THE BANK BE UNDER ANY OBLIGATION TO MAKE ANY ADVANCES TO THE UNDERSIGNED PURSUANT TO THIS NOTE (NOTWITHSTANDING ANYTHING EXPRESSED OR IMPLIED IN THIS NOTE OR ELSEWHERE TO THE CONTRARY, INCLUDING, WITHOUT LIMIT, IF THE
BANK SUPPLIES THE UNDERSIGNED WITH A BORROWING FORMULA) AND THE BANK, AT ANY TIME AND FROM TIME TO TIME, WITHOUT NOTICE, AND IN ITS SOLE DISCRETION, MAY REFUSE TO MAKE ADVANCES TO THE UNDERSIGNED WITHOUT INCURRING ANY LIABILITY DUE TO THIS REFUSAL
AND WITHOUT AFFECTING THE UNDERSIGNED’S LIABILITY UNDER THIS NOTE FOR ANY AND ALL AMOUNTS ADVANCED.  
 Accrued and unpaid interest on the unpaid
principal balance outstanding hereunder shall be payable monthly, in arrears, on the first Business Day of each month, until maturity (whether as stated herein, by acceleration, or otherwise). Interest accruing hereunder shall be computed on the
basis of a year of 360 days, and shall be assessed for the actual number of days elapsed, and in such computation, effect shall be given to any change in the applicable interest rate as a result of any change in the Daily Adjusting LIBOR Rate or, to
the extent applicable, the Prime-based Rate on the date of each such change. 
 From and after the occurrence of any Event of Default hereunder, and so long
as any such Event of Default remains unremedied or uncured thereafter, the Indebtedness outstanding under this Note shall bear interest at a per annum rate of three percent (3%) above the otherwise applicable interest rate hereunder, which
interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the
payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default hereunder. 
 In no event shall
the interest payable under this Note at any time exceed the maximum rate permitted by law. 

 The amount and date of each advance hereunder, its applicable interest rate and the amount and date of any repayment
shall be noted on Bank’s records, which records shall be conclusive evidence thereof, absent manifest error; provided, however, any failure by Bank to make any such notation, or any error in any such notation, shall not relieve the undersigned
of its/their obligations to repay Bank all amounts payable by the undersigned to Bank under or pursuant to this Note, when due in accordance with the terms hereof. 
 In the event that any payment under this Note becomes due and payable on any day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day, and, to the extent applicable, interest shall continue
to accrue and be payable thereon during such extension at the rates set forth in this Note. 
 All payments to be made by the undersigned to Bank under or
pursuant to this Note shall be in immediately available funds, without setoff or counterclaim, and in the event that any payments submitted hereunder are in funds not available until collected, said payments shall continue to bear interest until
collected. The undersigned hereby authorize(s) Bank to charge any account(s) of the undersigned (or any of them) with Bank for all sums due hereunder when due in accordance with the terms hereof. 
 The undersigned may prepay all or part of the outstanding balance of any Indebtedness hereunder at any time without premium or penalty. Any prepayment hereunder shall
also be accompanied by the payment of all accrued and unpaid interest on the amount so prepaid. 
 If, at any time, Bank determines that, (a) Bank is
unable to determine or ascertain the Daily Adjusting LIBOR Rate, or (b) by reason of circumstances affecting the foreign exchange and interbank markets generally, deposits in eurodollars in the applicable amounts or for the relative maturities
are not being offered to Bank, or (c) the Daily Adjusting LIBOR Rate will not accurately or fairly cover or reflect the cost to Bank of maintaining any of the Indebtedness under this Note at the Daily Adjusting LIBOR Rate, then Bank shall
forthwith give notice thereof to the undersigned. Thereafter, until Bank notifies the undersigned that such conditions or circumstances no longer exist, the Prime-based Rate shall be the applicable interest rate for all Indebtedness hereunder during
such period of time. 
 If, after the date hereof, the introduction of, or any change in, any applicable law, rule or regulation or in the interpretation or
administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by Bank (or its LIBOR Lending Office) with any request or directive (whether or not having the force of law) of any such
authority, shall make it unlawful or impossible for the Bank (or its LIBOR Lending Office) to make or maintain any of the Indebtedness under this Note with interest at the Daily Adjusting LIBOR Rate, Bank shall forthwith give notice thereof to the
undersigned. Thereafter, until Bank notifies the undersigned that such conditions or circumstances no longer exist, the Prime-based Rate shall be the applicable interest rate for all Indebtedness hereunder during such period of time. 
 Further, at any time upon prior written notice to the undersigned, Bank may, in its sole discretion based upon its good faith belief that the Prime-based Rate is an
appropriate basis for its floating rate loans, suspend use of the Daily Adjusting LIBOR Rate as the applicable interest rate hereunder, at which time, the Prime-based Rate shall thereafter be the applicable interest rate for all Indebtedness
outstanding under this Note, unless Bank, in its sole discretion based upon its good faith belief that the Prime-based Rate is no longer an appropriate basis for its floating rate loans, rescinds such notice, in which case, the Daily Adjusting LIBOR
Rate shall, upon written notice from Bank to the undersigned, again be the applicable interest rate for all Indebtedness outstanding hereunder. 
 If the
adoption after the date hereof, or any change after the date hereof in, any applicable law, rule or regulation (whether domestic or foreign) of any governmental authority, central bank or comparable agency charged with the interpretation or
administration thereof, or compliance by Bank (or its LIBOR Lending Office) with any request or directive (whether or not having the force of law) made by any such authority, central bank or comparable agency after the date hereof: (a) shall
subject Bank (or its LIBOR Lending Office) to any tax, duty or other charge with respect to this Note or any Indebtedness hereunder, or shall change the basis of taxation of payments to Bank (or its LIBOR Lending Office) of the principal of or
interest under this Note or any other amounts due under this Note in respect thereof (except for changes in the rate of tax on the overall net income of Bank or its LIBOR Lending Office imposed by the jurisdiction in which Bank’s principal
executive office or LIBOR Lending Office is located); or (b) shall impose, modify or 

 
deem applicable any reserve (including, without limitation, any imposed by the Board of Governors of the Federal Reserve System), special deposit or similar
requirement against assets of, deposits with or for the account of, or credit extended by Bank (or its LIBOR Lending Office), or shall impose on Bank (or its LIBOR Lending Office) or the foreign exchange and interbank markets any other condition
affecting this Note or the Indebtedness hereunder; and the result of any of the foregoing is to increase the cost to Bank of maintaining any part of the Indebtedness hereunder or to reduce the amount of any sum received or receivable by Bank under
this Note by an amount deemed by the Bank to be material, then the undersigned shall pay to Bank, within fifteen (15) days of the undersigned’s receipt of written notice from Bank demanding such compensation, such additional amount or
amounts as will compensate Bank for such increased cost or reduction. A certificate of Bank, prepared in good faith and in reasonable detail by Bank and submitted by Bank to the undersigned, setting forth the basis for determining such additional
amount or amounts necessary to compensate Bank shall be conclusive and binding for all purposes, absent manifest error. 
 In the event that any applicable
law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not presently applicable to Bank, or any interpretation or administration thereof by any governmental authority charged with the interpretation
or administration thereof, or compliance by Bank with any guideline, request or directive of any such authority (whether or not having the force of law), including any risk-based capital guidelines, affects or would affect the amount of capital
required or expected to be maintained by Bank (or any corporation controlling Bank), and Bank determines that the amount of such capital is increased by or based upon the existence of any obligations of Bank hereunder or the maintaining of any
Indebtedness hereunder, and such increase has the effect of reducing the rate of return on Bank’s (or such controlling corporation’s) capital as a consequence of such obligations or the maintaining of such Indebtedness hereunder to a level
below that which Bank (or such controlling corporation) could have achieved but for such circumstances (taking into consideration its policies with respect to capital adequacy), then the undersigned shall pay to Bank, within fifteen (15) days
of the undersigned’s receipt of written notice from Bank demanding such compensation, additional amounts as are sufficient to compensate Bank (or such controlling corporation) for any increase in the amount of capital and reduced rate of return
which Bank reasonably determines to be allocable to the existence of any obligations of the Bank hereunder or to maintaining any Indebtedness hereunder. A certificate of Bank as to the amount of such compensation, prepared in good faith and in
reasonable detail by the Bank and submitted by Bank to the undersigned, shall be conclusive and binding for all purposes absent manifest error. 
 All
payments under this Note shall be in immediately available United States funds, without setoff or counterclaim. 
 The undersigned authorize(s) the Bank to
charge any account(s) of the undersigned (or any of them) with the Bank for any and all sums due hereunder when due; provided, however, that such authorization shall not affect any of the undersigned’s obligation to pay to the Bank all amounts
when due, whether or not any such account balances that are maintained by the undersigned with the Bank are insufficient to pay to the Bank any amounts when due, and to the extent that are insufficient to pay to the Bank all such amounts, the
undersigned shall remain liable for any deficiencies until paid in full. 
 This Note shall bind the undersigned, and the undersigned’s successors and
assigns. 
 The undersigned waive(s) presentment, demand, protest, notice of dishonor, notice of demand or intent to demand, notice of acceleration or intent
to accelerate, and all other notices, and agree(s) that no extension or indulgence to the undersigned (or any of them) or release, substitution or nonenforcement of any security, or release or substitution of any of the undersigned, any guarantor or
any other party, whether with or without notice, shall affect the obligations of any of the undersigned. The undersigned waive(s) all defenses or right to discharge available under Section 3-605 of the Michigan Uniform Commercial Code and waive(s)
all other suretyship defenses or right to discharge. The undersigned agree(s) that the Bank has the right to sell, assign, or grant participations or any interest in, any or all of the Indebtedness, and that, in connection with this right, but
without limiting its ability to make other disclosures to the full extent allowable, the Bank may disclose all documents and information which the Bank now or later has relating to the undersigned or the Indebtedness. The undersigned agree(s) that
the Bank may provide information relating to this Note or relating to the undersigned to the Bank’s parent, affiliates, subsidiaries and service providers. 

 The undersigned agree(s) to reimburse Bank, or any other holder or owner of this Note, for any and all costs and expenses
(including, without limit, court costs, legal expenses and reasonable attorneys’ fees, whether inside or outside counsel is used, whether or not suit is instituted, and, if suit is instituted, whether at the trial court level, appellate level,
in a bankruptcy, probate or administrative proceeding or otherwise) incurred in collecting or attempting to collect this Note or the Indebtedness or incurred in any other matter or proceeding relating to this Note or the Indebtedness. 
 The undersigned acknowledge(s) and agree(s) that there are no contrary agreements, oral or written, establishing a term of this Note and agree(s) that the terms and
conditions of this Note may not be amended, waived or modified except in a writing signed by an officer of the Bank expressly stating that the writing constitutes an amendment, waiver or modification of the terms of this Note. As used in this Note,
the word “undersigned” means, individually and collectively, each maker, accommodation party, endorser and other party signing this Note in a similar capacity. If any provision of this Note is unenforceable in whole or part for any reason,
the remaining provisions shall continue to be effective. THIS NOTE IS MADE IN THE STATE OF MICHIGAN AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF MICHIGAN, WITHOUT REGARD TO CONFLICT OF LAWS
PRINCIPLES. 
 For the purposes of this Note, the following terms have the following meanings: 
 “Applicable Margin” means three and 50/100 percent (3.50%) per annum. 
 “Business Day” means any day, other than a Saturday, Sunday or any other day designated as a holiday under Federal or applicable State statute or regulation, on which Bank is open for all or substantially
all of its domestic and international business (including dealings in foreign exchange) in Detroit, Michigan, and, in respect of notices and determinations relating to the Daily Adjusting LIBOR Rate, also a day on which dealings in dollar deposits
are also carried on in the London interbank market and on which banks are open for business in London, England. 
 “Credit Agreement” means that
certain Credit Agreement dated August 25, 2005, between the undersigned and Bank, as amended to date and as may be further amended, restated, supplemented or replaced from time to time. 
 “Daily Adjusting LIBOR Rate” means, for any day, a per annum interest rate which is equal to the sum of the Applicable Margin, plus the quotient of the
following: 
  

	(a)	for any day, the per annum rate of interest determined on the basis of the rate for deposits in United States Dollars for a period equal to one (1) month, appearing on Page
BBAM of the Bloomberg Financial Markets Information Service as of 11:00 a.m. (Detroit, Michigan time) (or as soon thereafter as practical), on such day, or if such day is not a Business Day, on the immediately preceding Business Day. In the event
that such rate does not appear on Page BBAM of the Bloomberg Financial Markets Information Service (or otherwise on such Service) on any day, the “Daily Adjusting LIBOR Rate” for such day shall be determined by reference to such other
publicly available service for displaying eurodollar rates as may be reasonably selected by Bank, or, in the absence of such other service, the “Daily Adjusting LIBOR Rate” for such day shall, instead, be determined based upon the average
of the rates at which Bank is offered dollar deposits at or about 11:00 a.m. (Detroit, Michigan time) (or soon thereafter as practical), on such day, or if such day is not a Business Day, on the immediately preceding Business Day, in the interbank
eurodollar market in an amount comparable to the principal amount outstanding hereunder and for a period of one (1) month; 

 divided by 
  

	(b)	a percentage (expressed as a decimal) equal to 1.00 minus the maximum rate on such day at which Bank is required to maintain reserves on “Euro-currency Liabilities” as
defined in and pursuant to Regulation D of the Board of Governors of the Federal Reserve System or, if such regulation or definition is modified, and as long as Bank is required to maintain reserves against a category of liabilities which includes
eurodollar deposits or includes a category of assets which includes eurodollar loans, the rate at which such reserves are required to be maintained on such category. 

 “Event of Default” is defined in the Credit Agreement. 
 “Indebtedness” is defined in the Credit Agreement. 
 “LIBOR
Lending Office” means Bank’s office located in the Cayman Islands, British West Indies, or such other branch of Bank, domestic or foreign, as it may hereafter designate as its LIBOR Lending Office by notice to the undersigned. 

“Maturity Date” is defined in the Credit Agreement. 
 “Prime Rate” means the per annum interest rate established by Bank as its prime rate for its borrowers, as such rate may vary from time to time, which rate is not necessarily the lowest rate on loans made by Bank at any such time.

 “Prime-based Rate” shall mean a per annum interest rate which is equal the sum of the Applicable Margin plus the greater of (i) the Prime
Rate; or (ii) the rate of interest equal to the sum of (a) one percent (1%), and (b) the rate of interest equal to the average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers (the “Overnight Rates”), as published by the Federal Reserve Bank of New York, or, if the Overnight Rates are not so published for any day, the average of the quotations for the Overnight Rates received by Bank from
three (3) Federal funds brokers of recognized standing selected by Bank, as the same may be changed from time to time. 
 No delay or failure of Bank in
exercising any right, power or privilege hereunder shall affect such right, power or privilege, nor shall any single or partial exercise thereof preclude any further exercise thereof, or the exercise of any other power, right or privilege. The
rights of Bank under this Agreement are cumulative and not exclusive of any right or remedies which Bank would otherwise have, whether by other instruments or by law. 
 THE MAXIMUM INTEREST RATE SHALL NOT EXCEED 25% PER ANNUM OR THE HIGHEST APPLICABLE USURY CEILING, WHICHEVER IS LESS. 
 THE UNDERSIGNED AND BANK, BY ACCEPTANCE OF THIS NOTE, ACKNOWLEDGE THAT THE 
 RIGHT TO TRIAL BY JURY IS A
CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED UNDER 
 CERTAIN CIRCUMSTANCES. TO THE EXTENT PERMITTED BY LAW, EACH PARTY, AFTER 
 CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF THEIR 
 CHOICE, KNOWINGLY AND VOLUNTARILY, AND FOR THEIR MUTUAL BENEFIT, WAIVES ANY 
 RIGHT TO TRIAL BY JURY IN THE
EVENT OF LITIGATION REGARDING THE PERFORMANCE OR 
 ENFORCEMENT OF, OR IN ANY WAY RELATED TO, THIS NOTE OR THE INDEBTEDNESS. 
 This Note amends, restates, supersedes and replaces that certain Revolving Credit Note dated as of August 17, 2007, made in the principal amount of $30,000,000 by the
undersigned payable to Bank (“Prior Note”), and the initial advance under this Note shall be deemed first applied, to the extent necessary, to repay the existing indebtedness of the undersigned to Bank under the Prior Note;
provided, however, the execution and delivery by the undersigned of this Note shall not, in any manner or circumstance, be deemed to be a novation of or to have terminated, extinguished or discharged any of the undersigned’s indebtedness
evidenced by the Prior Note, all of which indebtedness shall continue under and shall hereinafter be evidenced and governed by this Note. 
  

			
	SOFTWARE BROKERS OF AMERICA, INC.
		
	By:	 	/s/ Anthony Shalom
		 	SIGNATURE OF Anthony Shalom
	Its:	 	President
		 	TITLE (if applicable)
	EX	 	

 EXHIBIT “C-1” 
  

					
	ComericA	  	                 Report of Accounts Receivable	  	

  

					
	Comerica Bank	  	Report Number
	Commercial Lending Services	  	 
	PO Box 75000	  	Final Month End Report
	Detroit, MI 48275-3012	  	            Yes                         No

	  
 COLLATERAL SUMMARY
  
	  	 
	 1.      Accounts Receivable Balance
Forwarded
	  	 
	 From Line 5 of Previous Report Dated
	  	 
	 2.      Add: Sales
from                     to
	  	 
	 (Month to Date Sales
Equal            )
	  	 
	 3.      Less: Cash Receipts
From                     to
	  	 
	 (Month to Date Receipts
Equal            )
	  	 
	  
 4.      Less: Non-Cash Credits/Adjustments to Receivables
  
	  	 
	  
 5.      Total Accounts Receivable as of
  
	  	 
	  
 6.      Less: Ineligible Accounts (per Aging Summary)
  
	  	 
	  
 7.      Total Eligible Receivables (Line 5 less Line 6)
  
	  	 
	  
 8.      Collateral Value: Advance Percent             Times line 7
  
	  	 
	  
 9.      Inventory Value (from Line 9 of inventory Summary)
  
	  	 
	  
 10.    Other Collateral Reliance
  
	  	 
	  
 11.    Less Reserve for
  
	  	 
	  
 12.    Total Loanable Collateral
  
	  	 
	  
 LOAN SUMMARY
  
	  	 
	  
 13.    Loan Balance Forwarded from Line 16 of Report No.
  
	  	 
	  
 14.    Less Payment(s)    (Attach Tape to Illustrate Calculation of Payments)

 
	  	 
	  
 15.    Plus Advance(s)    (Attach Tape to Illustrate Calculation of Advances
  
	  	 
	  
 16.    Sub Total - Current Loan Balance
  
	  	 
	  
 17.    Plus Outstanding Letters of Credit
  
	  	 
	  
 18.    Total Liability
  
	  	 

 We submit the following information in connection with the Security Agreement executed by the undersigned in favor
of Comerica Bank. The undersigned warrants that after the requested advance (if any) is made, its total obligations to the Bank under the terms of the Agreement will not exceed the loan to collateral limits as defined in the Agreement. 

The undersigned warrants the accuracy and completeness of this report and acknowledges that the Bank is relying thereon. 
 The undersigned hereby requests an advance from the Bank in the amount of              said advance to become
part of the liabilities by the Agreement. 
  

							
	  
	    	  

	Company Name	  		    	Customer Number	  	Loan Number
		
	 By:
	    	  

	Authorized Customer Signature	  	Date	    	Assignment Unit	  	

  
  

					
	  
 BANK USE ONLY
  

	 Received-CLS (Teller Stamp)
  
	  	 Processed By
  
	  	 Date
  

	 Comments
  
	  	 Audited By
  
	  	 Date

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