Document:

EX-10.1

 Exhibit 10.1 

[Executed Version] 
  

 
  

SALE AND SERVICING AGREEMENT 

Dated as of February 18, 2021 

among 
 REGIONAL MANAGEMENT
RECEIVABLES III, LLC, 
 as Depositor 

REGIONAL MANAGEMENT CORP., 
 as
Servicer 
 THE SUBSERVICERS PARTY HERETO, 

as Subservicers 
 REGIONAL
MANAGEMENT ISSUANCE TRUST 2021-1, 
 as Issuer 

and 
 REGIONAL MANAGEMENT NORTH
CAROLINA RECEIVABLES TRUST 
 acting hereunder solely with respect to the 2021-1A SUBI 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	 ARTICLE I
	  

	 DEFINITIONS
	  

			
	 Section 1.01
	  	 Definitions
	  	 	1	 
	
	 ARTICLE II
	  

	 CONVEYANCE OF LOANS
	  

			
	 Section 2.01
	  	 Conveyance of Loans
	  	 	1	 
	 Section 2.02
	  	 Acceptance by Issuer
	  	 	3	 
	 Section 2.03
	  	 Representations and Warranties of the Depositor Relating to the Depositor
	  	 	3	 
	 Section 2.04
	  	 [Reserved]
	  	 	5	 
	 Section 2.05
	  	 Representations and Warranties of the Depositor Relating to this Agreement and the
Loans
	  	 	5	 
	 Section 2.06
	  	 Repurchase Obligations
	  	 	6	 
	 Section 2.07
	  	 Covenants of the Depositor
	  	 	7	 
	 Section 2.08
	  	 Addition of Loans
	  	 	9	 
	 Section 2.09
	  	 Optional Purchase and Optional Call
	  	 	10	 
	 Section 2.10
	  	 Optional Reassignment of Loans
	  	 	10	 
	 Section 2.11
	  	 Optional Sale of Charged-Off Loans
	  	 	11	 
	 Section 2.12
	  	 Issuer Loan Exclusions
	  	 	12	 
	 Section 2.13
	  	 Investment Company Act Restriction
	  	 	12	 
	
	 ARTICLE III
	  

	 ADMINISTRATION AND SERVICING OF LOANS
	  

			
	 Section 3.01
	  	 Acceptance of Appointment and Other Matters Relating to the Servicer
	  	 	12	 
	 Section 3.02
	  	 Servicing Compensation
	  	 	13	 
	 Section 3.03
	  	 Representations, Warranties and Covenants of the Servicer and each Subservicer
	  	 	14	 
	 Section 3.04
	  	 Adjustments
	  	 	17	 
	 Section 3.05
	  	 Back-up Servicing Agreement
	  	 	17	 
	 Section 3.06
	  	 Monthly Servicer Report
	  	 	17	 
	 Section 3.07
	  	 Annual Compliance Certificate
	  	 	17	 
	 Section 3.08
	  	 Copies of Reports Available
	  	 	17	 
	 Section 3.09
	  	 Notices To Regional Management Corp
	  	 	17	 
	 Section 3.10
	  	 Subservicing
	  	 	18	 
	 Section 3.11
	  	 Custody of Receivable Files
	  	 	19	 

  
 -i- 

							
	 ARTICLE IV
	  

	 COLLECTIONS AND ALLOCATIONS
	  

			
	 Section 4.01
	  	Collections and Allocations	  	 	21	 
	
	 ARTICLE V
	  

	 OTHER MATTERS RELATING TO THE DEPOSITOR
	  

			
	 Section 5.01
	  	Liability of the Depositor	  	 	21	 
	 Section 5.02
	  	Merger or Consolidation of the Depositor	  	 	21	 
	 Section 5.03
	  	Limitations on Liability of the Depositor	  	 	22	 
	 Section 5.04
	  	Limitations on Liability of the Depositor	  	 	22	 
	
	 ARTICLE VI
	  

	 OTHER MATTERS RELATING TO THE SERVICER AND THE
SUBSERVICERS
	  

			
	 Section 6.01
	  	Liability of Servicer and the Subservicers	  	 	23	 
	 Section 6.02
	  	Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or a Subservicer	  	 	23	 
	 Section 6.03
	  	Limitation on Liability of the Servicer, the Subservicers and Others	  	 	24	 
	 Section 6.04
	  	Servicer Indemnification of the Issuer, the Owner Trustee and the Indenture Trustee	  	 	25	 
	 Section 6.05
	  	Resignation of the Servicer and the Subservicers	  	 	25	 
	 Section 6.06
	  	Access to Certain Documentation and Information Regarding the Loans	  	 	26	 
	 Section 6.07
	  	Delegation of Duties	  	 	26	 
	 Section 6.08
	  	Examination of Records	  	 	27	 
	 Section 6.09
	  	Servicer Power of Attorney	  	 	27	 
	
	 ARTICLE VII
	  

	 INSOLVENCY EVENTS
	  

			
	 Section 7.01
	  	Rights upon the Occurrence of an Insolvency Event	  	 	27	 
	
	 ARTICLE VIII
	  

	 SERVICER DEFAULTS
	  

			
	 Section 8.01
	  	Servicer Defaults	  	 	27	 
	 Section 8.02
	  	Indenture Trustee to Act; Appointment of Successor	  	 	29	 
	 Section 8.03
	  	Rule 15Ga-1 Compliance	  	 	30	 
	
	 ARTICLE IX
	  

	 TERMINATION
	  

			
	 Section 9.01
	  	Termination of Agreement as to Servicing	  	 	31	 

  
 -ii- 

							
	 ARTICLE X
	  

	 MISCELLANEOUS PROVISIONS
	  

			
	 Section 10.01
	  	Amendment; Waiver of Past Defaults; Assignment	  	 	31	 
	 Section 10.02
	  	Protection of Right, Title and Interest of Issuer	  	 	33	 
	 Section 10.03
	  	GOVERNING LAW	  	 	34	 
	 Section 10.04
	  	Notices	  	 	35	 
	 Section 10.05
	  	Severability	  	 	37	 
	 Section 10.06
	  	Further Assurances	  	 	37	 
	 Section 10.07
	  	Nonpetition Covenant	  	 	37	 
	 Section 10.08
	  	No Waiver; Cumulative Remedies	  	 	37	 
	 Section 10.09
	  	Counterparts; Execution	  	 	38	 
	 Section 10.10
	  	Binding Effect; Third-Party Beneficiaries	  	 	38	 
	 Section 10.11
	  	Merger and Integration	  	 	38	 
	 Section 10.12
	  	Headings	  	 	38	 
	 Section 10.13
	  	Schedules and Exhibits	  	 	38	 
	 Section 10.14
	  	Survival of Representations and Warranties	  	 	38	 
	 Section 10.15
	  	Limited Recourse	  	 	38	 
	 Section 10.16
	  	Rights of the Indenture Trustee	  	 	40	 
	 Section 10.17
	  	Series Liabilities	  	 	40	 
	 Section 10.18
	  	Intention of the Parties	  	 	40	 
	 Section 10.19
	  	Additional Subservicers	  	 	41	 
	 Section 10.20
	  	Limitation of Liability of WTNA	  	 	41	 
	 Section 10.21
	  	EU Risk Retention	  	 	42	 

  

					
	SCHEDULES	  		  	
			
	Schedule I	  	—	  	List of Subservicers
	Schedule II	  	—	  	Part A – Definitions Schedule
		  		  	Part B – Rules of Construction
	Schedule III	  	—	  	Perfection Representations, Warranties and Covenants
	Schedule IV	  	—	  	Loan Level Representations, Warranties and Covenants
			
	EXHIBITS	  		  	
			
	Exhibit A-1	  	—	  	Form of Initial Loan Assignment
	Exhibit A-2	  	—	  	Form of Additional Loan Assignment
	Exhibit B	  	—	  	Form of Annual Compliance Certificate
	Exhibit C	  	—	  	Form of Loan Reassignment
	Exhibit D	  	—	  	Form of Accession Agreement
	Exhibit E	  	—	  	Conditions to Accession
	Exhibit F	  	—	  	Rule 15Ga-1 Information
	Exhibit G	  	—	  	Form of Limited Power of Attorney

  

  
 -iii- 

 SALE AND SERVICING AGREEMENT, dated as of February 18, 2021 (this
“Agreement”), among REGIONAL MANAGEMENT RECEIVABLES III, LLC, a Delaware limited liability company, as depositor (the “Depositor”), REGIONAL MANAGEMENT CORP., a Delaware corporation, as servicer (the
“Servicer”), the Subservicers Party Hereto as identified in Schedule I hereto, REGIONAL MANAGEMENT ISSUANCE TRUST 2021-1, a Delaware statutory trust, as issuer (the
“Issuer”), and REGIONAL MANAGEMENT NORTH CAROLINA RECEIVABLES TRUST, acting hereunder solely with respect to the 2021-1A SUBI (the “North Carolina Trust”). 

BACKGROUND 

Under this Agreement, the Depositor will sell, from time to time, to the Issuer certain consumer loans and on the Closing
Date, the 2021-1A SUBI Certificate. The Issuer intends to grant a security interest in those loans and in the 2021-1A SUBI Certificate to the Indenture Trustee pursuant
to the Indenture. 
 AGREEMENT 

In consideration of the mutual agreements herein contained, each party agrees as follows for the benefit of the other parties
and the Noteholders to the extent provided herein and in the Indenture: 
 ARTICLE I 

DEFINITIONS 

Section 1.01    Definitions. Certain capitalized terms in this Agreement are defined in and
shall have the respective meanings assigned to them in Part A of Schedule II to this Agreement. The rules of construction set forth in Part B of Schedule II shall be applicable to this Agreement. 

ARTICLE II 
 CONVEYANCE
OF LOANS 
 Section 2.01    Conveyance of Loans. (a) In consideration of the
Issuer’s promise to pay the Purchase Price with respect to the Sold Assets, the Depositor does hereby sell, transfer, convey, assign, set-over and otherwise convey to the Issuer from time to time, without
recourse except as provided herein, all its right, title and interest in, to and under, whether now owned or hereafter acquired (i) the Purchased Assets, (ii) the right to receive all Collections with respect to the Purchased Assets after
the applicable Cut-Off Date, (iii) all rights of the Depositor under the Loan Purchase Agreement and (iv) all proceeds thereof (such property, collectively, the “Sold Assets”);
provided, however, that the Sold Assets shall not include any (x) Reassigned Loan released in connection with any Issuer Loan Release or (y) Loan reconvened to the Depositor, Servicer or Subservicer in accordance with the express terms
hereof. Purchased Assets shall not include any Loan reconveyed to the Seller in accordance with the terms hereof. For the avoidance of doubt, although the 2021-1A SUBI Certificate conveyed by the Depositor to
the Issuer hereunder represents a beneficial interest in the 2021-1A SUBI Loans, no 2021-1A SUBI Loans are being sold hereunder, and the
2021-1A SUBI Loans continue to be the property of the North Carolina Trust. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 1 

 The foregoing does not constitute and is not intended to result in the
creation or an assumption by the Issuer, the Owner Trustee (as such or in its individual capacity), the Indenture Trustee or any Noteholder of any obligation of the Seller, the Depositor, the Servicer or any other Person in connection with the Loans
or under any agreement or instrument relating thereto, including any obligations to Loan Obligors. 

(b)        In consideration for the purchase of the Sold Assets hereunder, the Issuer
hereby agrees, subject to Article VIII of the Indenture, to pay to the Depositor on the Closing Date and, on each Payment Date, as applicable, the Purchase Price for the related Sold Assets, which shall consist of (i) the Notes, (ii) with
respect to any Additional Loans, Collections available for such purpose under the Indenture, including funds on deposit in the Principal Distribution Account and (iii) the Trust Certificate or, so long as the Depositor is the holder of the
Trust Certificate, an increase in the value thereof. 
 (c)        The Depositor
agrees to authorize, record and file, at the expense of the Depositor, on or within ten (10) days of the Closing Date, all the financing statements (and amendments to financing statements when applicable) with respect to the Loans and the other
Sold Assets meeting the requirements of applicable law in such manner and in such jurisdictions as are necessary to perfect, and maintain the perfection of, the transfer and assignment of the Loans and the other Sold Assets to the Issuer as a
first-priority ownership interest, and to deliver a file stamped copy of each such financing statement or other evidence of such filing to the Issuer and, in the case of amendments to financing statements, as soon as practicable after receipt
thereof by the Depositor. In the event that any transfer of Sold Assets on any Addition Date requires any filing or documents necessary to maintain the interest of the Issuer and its assigns as a first-priority perfected ownership interest, the
Depositor shall cause all such filings and recordings to be made on or within ten (10) days of the date of such transfer and promptly provide evidence thereof to the Issuer. 

(d)        On or prior to the Closing Date or the relevant Addition Date, as
applicable, the Depositor shall mark its electronic records with respect to each Loan sold hereunder with a designation to indicate that such Loans and the related Sold Assets have been sold to the Issuer under this Agreement and a security interest
therein has been granted to the Indenture Trustee under the Indenture. The Depositor shall not change any of these entries in its computer files relating to any such Loan or related Sold Assets except in connection with any Loan that ceases to be a
Sold Asset; provided, that after a Loan shall have been repaid in full (and all Collections in respect thereof shall have been deposited into the Collection Account), such entries may be removed consistent with the Credit and Collection Policy. 

(e)        The Depositor shall deliver to the Issuer a Loan Schedule, together with
the Initial Loan Assignment, on the Closing Date, identifying the Initial Loans sold hereunder by the Depositor and the 2021-1A SUBI Certificate sold by the Depositor to the Issuer on the Closing Date. In
addition, the Depositor agrees no later than the Monthly Determination Date following the end of each Collection Period, to deliver or cause to be delivered to the Issuer, an updated Loan Schedule all Loans that will constitute Sold Assets as of the
close of business on the related Loan Action Date (after giving effect to all Loan Actions on such Loan Action Date). Such Loan Schedule shall also separately identify each Loan that will be designated as an Excluded Loan. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 2 

 (f)        The parties intend that
the transfer of the Sold Assets to the Issuer by the Depositor be an absolute sale and not a secured borrowing. If the transaction under this Agreement were determined to be a loan rather than an absolute sale despite this intent of the parties, the
transfers provided for in this Agreement shall be deemed to be the grant of, and the Depositor hereby grants to the Issuer a first-priority security interest in all of such entity’s right, title, and interest, whether now owned or hereafter
acquired, in, to, and under the Sold Assets to secure the payment and performance of all obligations of the Depositor under this Agreement including the obligation to cause the sale of Sold Assets and the payment of all monies due under the Sold
Assets to the Issuer and its assigns. This grant is a protective measure and must not be construed as evidence of any intent contrary to the one expressed in the first sentence of this paragraph, nor should the intent expressed in the first sentence
of this paragraph be deemed to be an expression of the intended tax treatment of the conveyance of the Sold Assets. 

Section 2.02    Acceptance by Issuer. (a) The Issuer hereby acknowledges its acceptance
of all right, title and interest to the Sold Assets purchased by, and conveyed to, the Issuer pursuant to Section 2.01. The Issuer further acknowledges that, prior to or simultaneously with the execution and delivery of
this Agreement, the Depositor delivered to it a Loan Schedule relating to the Initial Loans (other than the 2021-1A SUBI Loans). 

(b)        The Issuer hereby agrees not to disclose to any Person any of the loan
numbers or other information contained in the Loan Schedule (including any supplement thereto) except (i) to the Servicer (or any Subservicer), the Back-up Servicer, the Image File Custodian or as
required by a Requirement of Law applicable to the Owner Trustee, the Issuer or the North Carolina Trustees, (ii) in connection with the performance of any of the Issuer’s duties hereunder, (iii) to the Indenture Trustee in connection
with its duties in enforcing the rights of Noteholders, (iv) to the Seller or (v) to bona fide creditors or potential creditors of the Seller, the Depositor or the Issuer for the limited purpose of enabling any such creditor to identify
applicable Loans subject to this Agreement, the 2021-1A SUBI Supplement, the 2021-1A SUBI Servicing Agreement, the Purchase Agreement, the Loan Purchase Agreement or the
Indenture, provided they agree to keep such information confidential. The Issuer agrees to take such measures as shall be reasonably requested by the Depositor to protect and maintain the security and confidentiality of such information and, in
connection therewith, shall allow the Depositor or its duly authorized representatives to inspect the Owner Trustee’s security and confidentiality arrangements as they specifically relate to the administration of the Issuer from time to time
during normal business hours upon prior written notice. 
 (c)        The Issuer
shall not create, assume or incur indebtedness or other liabilities in the name of the Issuer other than as expressly contemplated in the Transaction Documents. 

Section 2.03    Representations and Warranties of the Depositor Relating to the Depositor.
The Depositor hereby represents and warrants to the Issuer, as of the Closing Date and each Addition Date that: 

(a)        Organization. The Depositor is a limited liability
company validly existing and in good standing under the laws of, and is duly qualified to do business in, the jurisdiction of its organization, and has full power and authority to own its properties and conduct its business as presently owned or
conducted, and to execute, deliver and perform its obligations under this Agreement, the Trust Agreement, the Purchase Agreement, the Loan Purchase Agreement and each other Transaction Document to which it is a party. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 3 

 (b)        Due
Qualification. The Depositor is duly qualified to do business and is in good standing, as a Delaware limited liability company, and has obtained all necessary licenses and approvals (whether directly or indirectly through the Seller or a
Subservicer in the applicable jurisdiction), in each jurisdiction in which failure to so qualify or to obtain such licenses and approvals would have an Adverse Effect. 

(c)        Due Authorization. The execution and delivery by the
Depositor of this Agreement and any Transaction Document to which it is a party and the consummation by the Depositor of the transactions provided for in this Agreement and any Transaction Document to which it is a party have been duly authorized by
all necessary action on the part of the Depositor. 

(d)        No Conflict. The execution and delivery by the
Depositor of this Agreement and any Transaction Document to which it is a party and the performance by the Depositor of the transactions contemplated by this Agreement and any Transaction Document to which it is a party and the fulfillment by the
Depositor of the terms hereof and thereof applicable to the Depositor, will not conflict with or violate the organizational documents of the Depositor or any Requirements of Law applicable to the Depositor or conflict with, result in any breach of
any of the terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, any indenture, contract, agreement, mortgage, deed of trust or other instrument to which the Depositor is a party or by which it or
its properties are bound. 
 (e)        Enforceability. Each
of this Agreement and each other Transaction Document to which the Depositor is a party is a legal, valid and binding obligation of the Depositor and is enforceable against the Depositor in accordance with its terms, except as enforceability may be
limited by Debtor Relief Laws or general principles of equity; 

(f)        No Proceedings. There are no Proceedings or
investigations pending before any Governmental Authority or, to the best knowledge of the Depositor, threatened, against the Depositor (i) asserting the invalidity of this Agreement or any other Transaction Document to which the Depositor is a
party, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or any other Transaction Document to which the Depositor is a party, (iii) seeking any determination or ruling that, in the
reasonable judgment of the Depositor, would materially and adversely affect the performance by the Depositor of its obligations under this Agreement or any other Transaction Document to which it is a party, (iv) seeking any determination or
ruling that would materially and adversely affect the validity or enforceability of this Agreement or any other Transaction Document to which the Depositor is a party or (v) seeking to affect adversely the income or franchise tax attributes of
the Issuer under the U.S. federal or any state income or franchise tax systems. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 4 

 (g)        All
Consents. All authorizations, consents, orders or approvals of or registrations or declarations with any Governmental Authority required to be obtained, effected or given by the Depositor in connection with the execution and delivery by the
Depositor of this Agreement and any Transaction Document to which it is a party and the performance of the transactions contemplated by this Agreement and any Transaction Document to which it is a party have been duly obtained, effected or given and
are in full force and effect. 
 (h)        Investment Company
Act. It is not an “investment company” required to be registered under the Investment Company Act. 

Section 2.04    [Reserved].  

Section 2.05    Representations and Warranties of the Depositor Relating to this Agreement and
the Loans.  
 (a)        Representations and Warranties.
The Depositor hereby represents and warrants to the Issuer and the Servicer as of the Closing Date, as of each Addition Date and, with respect to each Loan, as of the applicable Cut-Off Date that: 

(i)        the Loan Schedule, in the case of the Closing Date, or the
applicable Additional Loan Assignment Schedule in the case of an Addition Date, identifies all of the Loans conveyed by the Depositor to the Issuer or allocated to the 2021-1A SUBI, as applicable, on the
Closing Date or such Addition Date, as applicable, and each such Loan is in all material respects as described in the Loan Schedule or as will be described in the Additional Loan Assignment Schedule, as applicable, and when delivered to the Issuer
by the Depositor the information contained in the Loan Schedule or Additional Loan Assignment Schedule, as applicable, with respect to each Loan will be true, correct and complete in all material respects as of the related Cut-Off Date; 
 (ii)        with
respect to (x) the Initial Loans (other than the 2021-1A SUBI Loans) and the 2021-1A SUBI Certificate on the Closing Date and (y) with respect to any
Additional Loans (other than the 2021-1A SUBI Loans), upon the applicable Addition Date, this Agreement constitutes a valid sale, transfer, assignment and conveyance to the Issuer of all right, title and
interest of the Depositor conveyed to the Issuer by the Depositor and the proceeds thereof or, if this Agreement does not constitute a sale of such property, it constitutes a grant of a security interest in such property (and any right, title and
interest therein) to the Issuer, which is enforceable upon execution and delivery of this Agreement and the Initial Loan Assignment, in the case of any Initial Loan (other than any 2021-1A SUBI Loan), and upon
the execution and delivery of the applicable Additional Loan Assignment on such Addition Date, in the case of any Additional Loan (other than any 2021-1A SUBI Loan). Upon the filing of the applicable financing
statements, the Issuer shall have a first-priority perfected security interest or ownership interest in such property and proceeds; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 5 

 (iii)        each
Loan conveyed by the Depositor to the Issuer hereunder on the Closing Date or the relevant Addition Date, as applicable, was an Eligible Loan as of the applicable Cut-Off Date for such Loan; 

(iv)        each of the representations and warranties of the Seller
set forth in Section 4.02(a) of the Loan Purchase Agreement as of the Closing Date or such Addition Date, as applicable, is true and correct as of such date; 

(v)        other than the security interest granted and the
conveyance to the Issuer pursuant to this Agreement, the Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Sold Assets described in Section 2.01 except as expressly
permitted hereunder; and 
 (vi)        each of the representations
and warranties set forth in Schedule III is true and correct as of the Closing Date or such Addition Date, as applicable. 

Notwithstanding any other provision of this Agreement or any other Transaction Document, the perfection representations
contained in Schedule III shall be continuing, and remain in full force and effect until such time as this Agreement terminates pursuant to Section 9.01 of this Agreement. The parties to this Agreement:
(A) shall not waive any of the perfection representations contained in Schedule III without satisfying the Rating Agency Notice Requirement; (B) shall provide each Rating Agency with prompt written notice of any material breach of
perfection representations contained in Schedule III and (C) shall not waive a breach of any of the perfection representations contained in Schedule III without satisfying the Rating Agency Notice Requirement. 

In addition, in the case of an Excluded Loan that is de-designated as such on any
Loan Action Date, the Depositor represents and warrants to the Issuer and the Servicer as of such Payment Date that such Loan would constitute an Eligible Loan as of the end of the related Collection Period if the last day of such Collection Period
were deemed to be such Loan’s Cut-Off Date. 

(b)        Notice of Breach. The representations and warranties set forth in
this Section 2.05 shall survive the transfers and assignments of the Loans to the Issuer, the grant of a security interest in the Loans to the Indenture Trustee pursuant to the Indenture, and the issuance of the Notes. Upon
discovery by the Depositor, the Servicer or the Issuer of a breach of any of the representations and warranties set forth in this Section 2.05, the party discovering such breach shall give notice to the other parties and to
the Indenture Trustee within five (5) Business Days following such discovery; provided that the failure to give notice within five (5) Business Days does not preclude subsequent notice. 

Section 2.06    Repurchase Obligations. (a) Upon obtaining actual knowledge of, or
receipt of written notice by, the Indenture Trustee or the Issuer of a breach of any representation or warranty contained in Section 2.05(a) hereof (or under Section 4.02(a) of the Loan Purchase Agreement as
incorporated pursuant to Section 2.05(a)(iv) of this Agreement) by the Depositor with respect to a Loan sold hereunder to the Issuer at the time such representations and warranties were made, which breach materially
adversely affects the interests of the Noteholders in such Loan, the party discovering or receiving notice of such breach shall give prompt written notice thereof to the Seller, the Depositor, the Issuer and the Indenture Trustee (it being
understood that the discovering party shall not be required to notify itself); provided, that the Indenture Trustee shall not be deemed to have discovered, or deemed to have notice or knowledge of, any event, including, without limitation, with
respect to a breach of any of the representations and warranties set forth herein or any other Transaction Document, unless a Responsible Officer of the Indenture Trustee has actual knowledge or shall have received written notice thereof. In the
case of a breach of any representation or warranty contained in Section 2.05(a)(i), (iii), (iv) or (vi) hereof, the Depositor shall immediately exercise its rights under Section 6.01 of the
Loan Purchase Agreement to require the Seller to cure such breach, or if such breach is not cured during the applicable cure period, to repurchase such Loan, in each case, in accordance with and subject to Section 6.01 of the Loan Purchase
Agreement. The obligations of the Depositor to require the Seller to cure or the obligations of the Depositor to repurchase the affected Loan shall constitute the sole and exclusive remedy, under this Agreement or otherwise, against the Depositor in
respect of a breach by the Depositor of any representations or warranties contained in Section 2.05(a)(i), (iii), (iv) or (vi) hereof. In the case of a breach of any representation or warranty
contained in Section 2.05(a)(ii) or (v) with respect to any Loan, which breach materially adversely affects the interests of the Noteholders in such Loan (any such breach, a “Direct Depositor
Breach”), the Depositor shall either cure such breach in all material respects within forty-five (45) days from the date on which the Depositor is notified of, or discovered, such breach or repurchase the affected Loan at the
applicable Repurchase Price in accordance with Section 2.06(b) hereof. The obligations of the Depositor to so cure such breach or repurchase the affected Loan shall constitute the sole and exclusive remedy under this
Agreement or otherwise against the Depositor in respect of a breach by the Depositor of any representations or warranties contained in Section 2.05(a)(ii) or (v) hereof. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 6 

 (b)        In the event that the
Depositor has not cured any Direct Depositor Breach within the applicable forty-five day period in accordance with (and to the extent required by) Section 2.06(a) hereof, the Depositor must repurchase its interests in the
affected Loan on the first Payment Date following the end of the Collection Period in which such forty-five day period expired; provided, that, in order to effectuate such repurchase, the Depositor shall deposit into the Collection Account,
on or prior to such Payment Date, an amount equal to the Repurchase Price for such Loan in immediately available funds. Upon receipt of the applicable Repurchase Price in the Collection Account and release of such Loan from the lien of the Indenture
in accordance with the terms thereof, automatically and without further action, the Issuer hereby sell to the Depositor without recourse, representation, or warranty, all of each of the Issuer’s right, title and interest in, to, and under
(i) such Loan, (ii) with respect to the Issuer, the right to receive Collections in respect of such Loan from and after the date of such repurchase, (iii) all Sold Assets relating to such Loan and (iv) all proceeds of any of the
property and assets described in the foregoing clauses (i) through (iii). The Issuer shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested and provided
by the party repurchasing such Loan to effect the conveyance of such Loan. 

Section 2.07    Covenants of the Depositor. The Depositor hereby covenants to the Issuer and
the Servicer, that: 
 (a)        Security Interests. Except
for the conveyances hereunder, the Depositor shall not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Encumbrance arising through or under the Depositor on, any Sold Assets conveyed by it
to the Issuer or any interest therein, and the Depositor shall defend the right, title and interest of the Issuer and the Indenture Trustee in, to and under the Sold Assets, against all claims of third parties claiming through or under the
Depositor. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 7 

 (b)        Trust
Certificates. Except in connection with any transaction permitted by Regulation RR and Section 5.02 and as provided in the Indenture and the Trust Agreement, the Depositor agrees not to transfer, sell, assign, exchange,
participate or otherwise convey or pledge, hypothecate or otherwise grant a security interest in the Trust Certificates held by the Depositor, and any such attempted transfer, assignment, exchange, conveyance, pledge, hypothecation, grant or sale
shall be void. 
 (c)        Delivery of Collections. In the
event that the Depositor receives Collections, the Depositor agrees to deposit such Collections into the Collection Account as soon as practicable after receipt thereof. 

(d)        Notice of Encumbrances. The Depositor shall notify
the Owner Trustee and the Indenture Trustee promptly after becoming aware of any Encumbrance on any Sold Asset conveyed by it to the Issuer other than the conveyances hereunder and under the Loan Purchase Agreement and the Indenture. 

(e)        Amendment of the Certificate of Formation and Limited
Liability Agreement. The Depositor will not amend in any respect its certificate of formation, the Depositor LLC Agreement or other organizational documents unless (i) the Rating Agency Notice Requirement is satisfied, (ii) the
Depositor shall have provided to the Indenture Trustee and the Issuer an Officer’s Certificate of the Depositor, dated as of the date of such amendment, stating that such amendment is not reasonably expected to result in an Adverse Effect and
(iii) such amendment is effected in accordance with the terms of the applicable organizational document. 

(f)        Separate Existence. The Depositor agrees to comply
with the separateness covenants in Section 4.01 of the Depositor LLC Agreement. 

(g)        Amendments to Loan Purchase Agreement. The Depositor
further covenants that it shall not enter into, or consent to, any amendments, modifications, waivers or supplements to, or terminations of, the Loan Purchase Agreement or enter into a new Loan Purchase Agreement, without the prior written consent
of the Issuer. 
 (h)        Enforcement of Loan Purchase
Agreement. The Depositor shall take all steps, as directed by the Issuer (or the Indenture Trustee at the written direction of the Required Noteholders), to enforce its rights (and the rights of the Issuer and the Indenture Trustee as assignees
of the Depositor) against any Seller with respect to any matter arising under the Loan Purchase Agreement. 

(i)        Taxes. The Depositor shall pay out of its own funds,
without reimbursement, the costs and expenses relating to any stamp, documentary, excise, property (whether on real, personal or intangible property) or any similar tax levied on the Issuer or the Issuer’s assets that are not expressly stated
in this Agreement to be payable by the Issuer (other than federal, state, local and foreign income and franchise taxes, if any, or any interest or penalties with respect thereto, assessed on the Issuer). 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 8 

(j)        Bankruptcy Limitations. The Depositor shall not,
without the affirmative vote of each of the managers of the Depositor (which must include the affirmative vote of the duly appointed Independent Manager as defined in the Depositor LLC Agreement): (A) to the fullest extent permitted by applicable
law, dissolve or liquidate, in whole or in part, or institute proceedings to be adjudicated bankrupt or insolvent, (B) consent to the institution of bankruptcy or insolvency proceedings against it, (C) file a voluntary bankruptcy petition
or any other petition seeking, or consent to, reorganization or relief under any applicable federal or state law relating to bankruptcy, (D) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Depositor or a substantial part of its property, (E) make a general assignment for the benefit of creditors, (F) admit in writing its inability to pay its debts generally as they become due, or (G) take any entity
action in furtherance of the actions set forth in clauses (A) through (F) above.  

(k)        Depositor Acting for Another Issuer. The Depositor
shall not act as depositor for another issuer under a different securitization unless the Depositor delivers an Officer’s Certificate to the Indenture Trustee to the effect that, based upon due inquiry, it has reasonably concluded that acting
as depositor for such other issuer under such securitization will not adversely affect the holders of the Notes in any material respect. 

Section 2.08    Addition of Loans. (a) The Depositor, with the consent of the Issuer
(which it may provide or withhold in its sole discretion), may designate from time to time Additional Loans to be sold to the Issuer pursuant to this Agreement in exchange for the Purchase Price, in each case on the applicable Addition Date. 

(b)        On the applicable Addition Date with respect to any Additional Loans
(which shall be a Payment Date), the Issuer shall acquire such Additional Loans and the Depositor shall make the following representations on such Addition Date: 

(i)        as of such Addition Date, no Insolvency Event with respect
to the Depositor shall have occurred and the transfer to the Issuer of such Additional Loans was not made in contemplation of the occurrence thereof; 

(ii)        as of the applicable Addition Date, the Revolving Period
was then in effect; 
 (iii)        as of the applicable Addition
Date, the Depositor reasonably believed that the transfer of such Additional Loans to the Issuer would not result in an Adverse Effect; 

(iv)        as of the applicable Addition Date, the Depositor shall
not have used selection procedures reasonably believed by the Depositor to be materially adverse to the interests of the Issuer or any Class of Noteholders in selecting such Additional Loans to be conveyed to the Issuer; and 

(v)        in connection with any such acquisition by the Issuer, the
terms of the Indenture (including, without limitation, Section 8.07 thereof) have been complied with in all material respects. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 9 

 Notwithstanding the foregoing, no such acquisition of any Additional Loans
by the Issuer hereunder shall occur on any Addition Date unless, on or prior to such Addition Date, the Depositor shall have delivered to the Issuer an Additional Loan Assignment with respect to the Additional Loans for such Addition Date, together
with an Additional Loan Assignment Schedule with respect to such Additional Loans. 

Section 2.09    Optional Purchase and Optional Call. (a) On any Business Day occurring
on or after the date on which the Aggregate Note Balance of the Outstanding Notes is reduced to 10% or less of the Initial Note Balance, the Servicer shall have the option to purchase all of the Sold Assets at a purchase price equal to the
Redemption Price in accordance with Section 8.08(a) of the Indenture (an “Optional Purchase”). If the Servicer elects to exercise such Optional Purchase, it shall comply with all applicable conditions set forth in
Sections 8.08(a) and (c) of the Indenture. Upon proper exercise of such Optional Purchase and deposit of the Redemption Price into the Principal Distribution Account and the Collection Account in accordance with Section 8.08(c) of the
Indenture, all of the Sold Assets to be sold in connection with such Optional Purchase shall be sold to the Servicer. Such Redemption Price shall be applied to the Notes in accordance with the provisions for the redemption of such Notes on the
applicable Redemption Date as set forth in the Indenture. 
 (b)        At any time
on or after the date on which the Loans and related Sold Assets are released from the lien of the Indenture in connection with an Optional Call pursuant to Section 8.05(i) of the Indenture, such Loans and related Sold Assets may be sold,
distributed, transferred or otherwise disposed of at the direction of the Depositor in its sole discretion. 

Section 2.10    Optional Reassignment of Loans. (a) Subject to Sections 8.05 and 8.07 of
the Indenture, on any Loan Action Date occurring during the Revolving Period, the Servicer (at the direction of the Depositor or, in the case of 2021-1A SUBI Loans, the Initial Beneficiary), at its sole
option, may require reassignment (or reallocation, as applicable) from the Issuer of its interests in Loans that were not Charged-Off Loans or Delinquent Loans, in each case, as of the end of the immediately
preceding Collection Period; provided, that the Servicer shall select such Loans in a manner that the Issuer and the Servicer reasonably believe is not materially adverse to the interests of any Class of Noteholders. Any such Loans shall
be reassigned to the Depositor (or in the case of any 2021-1A SUBI Loan, reallocated from the 2021-1A SUBI) for the Reassignment Price applicable to such Loans, such
Reassignment Price to be paid (i) with respect to Reassigned Loans other than 2021-1A SUBI Loans, for so long as the Depositor is the holder of the Trust Certificate, and at the Depositor’s option,
by an adjustment to the value of the Trust Certificate, if such adjustment is available, in which case the Issuer will not receive a cash payment; provided, that no adjustment to the value of the Trust Certificate shall cause non-compliance with Regulation RR) or (ii) otherwise, in immediately available funds to the Servicer (to be deposited in the Principal Distribution Account). Neither the Servicer (on behalf of the Depositor or
the Initial Beneficiary, as applicable) nor the Depositor shall cause any such reassignment (or reallocation, as applicable) to occur on any Loan Action Date unless: (x) (i) no Reinvestment Criteria Event is outstanding and (ii) the
reassignment of such Loans constitutes a Permitted Reassignment, in each case, after giving effect to all Loan Actions that occur on such Loan Action Date and (y) the Reassignment Price shall have been paid as described above. No such
reassignment may cause the Issuer to breach or otherwise violate any provision of the Indenture.  

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 10 

 (b)        To cause any such
reassignment or reallocation, as applicable, of Loans, the Servicer (on behalf of the Depositor or, in the case of 2021-1A SUBI Loans, the Initial Beneficiary) shall take the following actions and make the
following determinations: 
 (i)        on or before the Monthly
Determination Date relating to the Loan Action Date on which such reassignment or reallocation, as applicable, is to occur (such Loan Action Date, the “Reassignment Date”), furnish to the Issuer, the Indenture Trustee and each
Rating Agency a written notice specifying the Loans which are expected to be reassigned from the Issuer or reallocated from the 2021-1A SUBI, as applicable; 

(ii)        on or prior to the applicable Reassignment Date, the
Servicer shall supplement the Loan Schedule by delivering to the Issuer and the Indenture Trustee a computer file or microfiche or written list (which may be in electronic form, acceptable to the Indenture Trustee) containing a true and complete
list of the Loans that are to be reassigned or reallocated, as applicable, on such Reassignment Date, specifying for each such Loan, its loan number, Loan Principal Balance and the Subservicer, in each case as of the end of the Collection Period
immediately preceding the Collection Period in which such Reassignment Date occurs; and 

(iii)        represent and warrant that the list of Loans delivered
pursuant to clause (ii), as of the Reassignment Date, is true and complete in all material respects. 
 Within five
(5) Business Days after the applicable Reassignment Date of a Loan (other than a 2021-1A SUBI Loan), the Issuer shall deliver to the Depositor a Loan Reassignment substantially in the form of Exhibit
C, together with any appropriate UCC releases or termination statements prepared and filed on behalf of the Issuer. 

Section 2.11    Optional Sale of Charged-Off Loans.
The Servicer (or any Affiliate of the Servicer) may undertake to locate a third party purchaser that is not affiliated with the initial Servicer, any of its Affiliates, the Seller, the Depositor or the Issuer to purchase from the Issuer any Charged-Off Loans, and shall have the right to direct the Issuer to sell any such Loans to such third party purchaser; provided that all recoveries and other amounts collected by the Issuer, the Depositor or the
Servicer (or any Affiliate of the Servicer) with respect to any Charged-Off Loan (including proceeds of any disposition by the Servicer or any Affiliate thereof to any third party) in accordance with the
Credit and Collection Policy shall be paid to the Issuer, by deposit in the Collection Account. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 11 

 Section 2.12    Issuer Loan Exclusions.
Subject to the conditions specified in, and in accordance with, Section 8.07 of the Indenture and the further conditions specified in this Section 2.12, on any Loan Action Date during the Revolving Period, the Servicer
(at the direction of the Depositor or the Initial Beneficiary, as applicable) may require the Issuer to designate one or more Loans included in the Sold Assets (or in the case of the 2021-1A SUBI, one or more 2021-1A SUBI Loans) as an Excluded Loan or cause one or more Loans included in the Sold Assets (or in the case of the 2021-1A SUBI, one or more
2021-1A SUBI Loans) to cease to be designated as an Excluded Loan. For the avoidance of doubt, until such time as an Excluded Loan ceases to be so designated, it shall not be included in the Loan Action Date
Loan Pool on any Loan Action Date (including the Loan Action Date on which it is designated as an Excluded Loan, but excluding the Loan Action Date on which it is de-designated as such) or taken into account
for purposes of determining whether or not a Reinvestment Criteria Event has occurred as of the end of the Collection Period preceding any such Loan Action Date, but it shall otherwise continue to constitute a Sold Asset (or in the case of the 2021-1A SUBI, a 2021-1A SUBI Loan) and all Collections in respect thereof during any Collection Period shall constitute Available Funds on the corresponding Payment Date. The
designation of a Loan or 2021-1A SUBI Loan as an Excluded Loan shall be effected by the delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the
Monthly Determination Date relating to applicable Loan Action Date of a report identifying each such expected Loan (by loan number and Seller and Subservicer) as an Excluded Loan. The Excluded Loans outstanding from time to time for any Loan Action
Date shall be identified as such on each Loan Schedule delivered on the Monthly Determination Date relating to such Loan Action Date. On any Loan Action Date during the Revolving Period, an Excluded Loan may be
de-designated as such by the delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the Monthly Determination Date relating to such Loan Action Date of a
report identifying each such expected Loan (by loan number and Seller and Subservicer) as ceasing to be designated as an Excluded Loan. No Excluded Loan may be de-designated as such on any Loan Action Date
unless such Loan would constitute an Eligible Loan as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date if such last day were deemed to be such Loan’s
Cut-Off Date. 
 Section 2.13    Investment Company Act
Restriction. Notwithstanding anything to the contrary in this Agreement, the Depositor and the Issuer hereby acknowledge and agree that neither the Depositor nor the Issuer shall, and neither shall be required to, acquire any additional Loans
(or, in the case of North Carolina Loans, beneficial interests therein) or related assets, or purchase, repurchase, reassign or otherwise dispose of any Loans (or, in the case of North Carolina Loans, beneficial interests therein) or related assets
pursuant to this Agreement, for the primary purpose of recognizing gains or decreasing losses for the Depositor or the Issuer as a result of market value changes. 

ARTICLE III 

ADMINISTRATION AND SERVICING OF LOANS 

Section 3.01    Acceptance of Appointment and Other Matters Relating to the Servicer.
(a) The Issuer and the North Carolina Trust authorizes Regional Management to act as initial Servicer (but without transfer to Regional Management of the Issuer’s right to service the Loans) and Regional Management agrees to act as the
initial Servicer, in each case hereunder. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 12 

 (b)        The Servicer shall
service and administer the Loans, shall collect and deposit into the Collection Account or other applicable Note Account amounts received under the Loans, shall charge off Loans deemed to be uncollectible and shall extend, amend or otherwise modify
Loans, all in accordance with its customary and usual servicing procedures for servicing consumer loans comparable to the Loans and in accordance with the Credit and Collection Policy and all applicable Requirements of Law. The Servicer shall have
full power and authority, acting alone or through any party properly designated by it hereunder and under the 2021-1A SUBI Servicing Agreement, including the Subservicers, to do any and all things in
connection with such servicing and administration which it may deem necessary or desirable. Without limiting the generality of the foregoing and subject to Section 8.01, the Servicer or its designee is hereby authorized and
empowered, unless such power is revoked by the Indenture Trustee on account of the occurrence of a Servicer Default pursuant to Section 8.01, (i) to make withdrawals or to instruct the Indenture Trustee to make withdrawals
from any Note Account permitted by the terms of this Agreement or the Indenture and (ii) to execute and deliver, on behalf of the Issuer any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, to
effect, on behalf of the Issuer and the North Carolina Trust with respect to Loans in accordance with the requirements of this Agreement and the 2021-1A SUBI Servicing Agreement and after the delinquency of
any Loan and to the extent permitted under and in compliance with applicable Requirements of Law, to commence collection proceedings with respect to such Loans. The Issuer, and the Indenture Trustee shall furnish the Servicer with any documents
reasonably requested by the Servicer or otherwise necessary to enable the Servicer to carry out its servicing and administrative duties hereunder; provided, however, that none of the Owner Trustee or the Indenture Trustee shall be
liable for any negligence with respect to, or misuse of, any such documents by the Servicer or any of its agents and the Servicer shall hold the Owner Trustee and the Indenture Trustee harmless against any losses, claims, damages, fines or penalties
of any nature incurred in connection therewith. 
 (c)        The Servicer shall
pay out of its own funds, without payment or reimbursement therefor (except as provided in Section 3.02 hereof), all fees, costs and expenses incurred by the Servicer in connection with the servicing activities hereunder
and under the 2021-1A SUBI Servicing Agreement, including expenses related to enforcement of the Loans. 

(d)        The Servicer shall not be required to use separate servicing operations,
offices, employees or accounts for servicing the Loans from the operations, offices, employees and accounts used by the Servicer in connection with servicing other consumer loans. 

(e)        The Servicer shall: (i) not amend any related Contract other than on
a per customer basis in accordance with the Credit and Collection Policy; (ii) comply, in all material respects, with the terms and conditions of the related Contracts; and (iii) promptly inform the Issuer, and the Depositor of any
material billing errors, claims, disputes or litigation with respect to the related Loans. 

Section 3.02    Servicing Compensation. As full compensation for its servicing activities
hereunder and as reimbursement for its expenses as set forth in the immediately following paragraph, the Servicer shall be entitled to receive the Servicing Fee payable in arrears on each Payment Date on or prior to the termination of the Issuer
pursuant to the terms of the Trust Agreement. The “Servicing Fee” for any Payment Date, other than the Initial Payment Date, shall be an amount equal to the product of (i) 4.75%, multiplied by (ii) the aggregate Loan
Principal Balance as of the first day of the related Collection Period, multiplied by (iii) one-twelfth. The Servicing Fee for the Initial Payment Date shall be an amount equal to the product of
(i) 4.75%, multiplied by (ii) the aggregate Loan Principal Balance as of the Initial Cut-Off Date, multiplied by (iii) one-sixth. The Servicing Fee shall
be payable to the Servicer solely to the extent that amounts are available for payment in accordance with the terms of the Indenture (including by the Servicer retaining Collections in an amount up to the aggregate accrued and unpaid Servicing Fee).
For the avoidance of doubt, such Servicing Fee shall also constitute compensation for the Servicer’s services rendered pursuant to the 2021-1A SUBI Servicing Agreement and related North Carolina Trust
Documents. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 13 

 The Servicer’s fees, costs and expenses include the reasonable fees
and disbursements of attorneys, independent accountants and all other fees, costs and expenses incurred by the Servicer in connection with its activities hereunder, including, without limitation, any fees payable to any Subservicer or any other
Person performing any of the Servicer’s duties and obligations hereunder. The Servicer shall be required to pay such fees, costs and expenses for its own account and shall not be entitled to any payment or reimbursement therefor or to any fee
or other payment from, or claim on, any of the assets in the Trust Estate (other than the Servicing Fee). Notwithstanding the foregoing, no Successor Servicer will be responsible to pay the fees and expenses of the Issuer. 

The Issuer and the Servicer acknowledge and agree that (i) the servicing arrangements provided for in this Agreement and
under the 2021-1A SUBI Servicing Agreement, including the Servicing Fee, are on terms consistent with those arrived at as a result of arm’s length negotiations and that they are typical of servicing
arrangements made for servicing assets such as the Loans, (ii) the Servicing Fee is expected to more than cover the anticipated costs associated with the performance by the Servicer of its obligations hereunder with respect to the Loans, other
Sold Assets and the other 2021-1A SUBI Assets, and constitutes fair consideration and reasonable compensation to the Servicer for the performance of such obligations, and (iii) an unaffiliated third party
having the requisite experience servicing assets such as the Loans would be willing to assume the servicing obligations hereunder for compensation commensurate with the Servicing Fee. 

Section 3.03    Representations, Warranties and Covenants of the Servicer and each
Subservicer. The Servicer, each Subservicer and any Successor Servicer by its appointment hereunder hereby makes, with respect to itself only, on the Closing Date (or on the date of the appointment of such Successor Servicer) and on each
Addition Date, the following representations, warranties and covenants on which each of (x) the Issuer shall be deemed to rely in accepting its interest in the Loans, (y) the Image File Custodian and the
Back-up Servicer shall be deemed to have relied in accepting its appointment as Image File Custodian and Back-up Servicer, respectively, under the Back-up Servicing Agreement, and (z) the Indenture Trustee shall be deemed to have relied in accepting the grant of a security interest in the Loans and in entering into the Indenture: 

(a)        Organization. It is an organization validly existing
and in good standing under the laws of, and is duly qualified to do business in, the jurisdiction of its incorporation or organization and has, in all material respects, full power and authority to own its properties and conduct its consumer loan
business as presently owned or conducted, and to execute, deliver and perform its obligations under this Agreement and each other Transaction Document to which it is a party. 

(b)        Due Qualification. It is in good standing and duly
qualified to do business (or is exempt from such requirements) and has obtained all necessary licenses and approvals (in the case of the Servicer, whether directly or indirectly through a Subservicer in the applicable jurisdiction) in each
jurisdiction in which it is performing the primary servicing function for any of the Loans under this Agreement, except where the failure to be in good standing, so qualify or obtain licenses or approvals would not have an Adverse Effect. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 14 

 (c)        Due
Authorization. The execution, delivery, and performance by it of this Agreement and the other agreements and instruments executed and delivered by it as contemplated hereby, have been duly authorized by all necessary action on the part of such
party. 
 (d)        Binding Obligation. This Agreement and
each other Transaction Document to which it is a party constitutes a legal, valid and binding obligation of such party, enforceable in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws or by
general principles of equity (whether considered in a proceeding at law or in equity). 

(e)        No Conflict. The execution and delivery of this
Agreement and each Transaction Document to which it is a party by it, and the performance by it of the transactions contemplated by this Agreement and the fulfillment by it of the terms hereof and thereof applicable to such party, will not conflict
with, violate or result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, any material indenture, contract, agreement, mortgage, deed of trust or other instrument to
which it is a party or by which it or its properties are bound, except for any such conflict, violation, breach or default which would not have an Adverse Effect. 

(f)        No Violation. The execution and delivery by it of
this Agreement and each other Transaction Document to which it is a party, the performance by it of the transactions contemplated by this Agreement and each other Transaction Document to which it is a party and the fulfillment by it of the terms
hereof and thereof applicable to such party will not conflict with or violate any Requirements of Law applicable to such party. 

(g)        No Proceedings. There are no Proceedings or
investigations pending against it before any Governmental Authority or, to the best of its knowledge, threatened, seeking to prevent the consummation of any of the transactions contemplated by this Agreement or seeking any determination or ruling
that, in the reasonable judgment of such party, would materially and adversely affect the performance by it of its obligations under this Agreement and the other Transaction Documents to which it is a party. 

(h)        Compliance with Requirements of Law; Credit and
Collection Policy. It shall (i) duly satisfy all obligations on its part to be fulfilled hereunder and the 2021-1A SUBI Servicing Agreement or in connection with each Loan and will maintain in effect
all qualifications required under Requirements of Law in order to service properly each Loan; (ii) comply in all material respects with its Credit and Collection Policy and (iii) comply with all other Requirements of Law in connection with
servicing each Loan the failure to comply with which would have an Adverse Effect. 

(i)        No Modification, Rescission or Cancellation. It
shall not permit any amendment, waiver, modification, rescission or cancellation of any Loan, except in accordance with its Credit and Collection Policy, as required by Requirements of Law or as ordered by a court of competent jurisdiction or other
Governmental Authority. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 15 

(j)        Protection of Rights. It shall take no action which,
nor omit to take any action the omission of which, would impair, in any material respect, the rights of the Issuer or the Indenture Trustee in any Loan, nor shall it reschedule, revise or defer payments due on any Loan, in each case except in
accordance with its Credit and Collection Policy or as required by Requirements of Law. 

(k)        Credit and Collection Policy. It shall not, and
shall not permit any Subservicer to, amend, modify, waive or supplement the Credit and Collection Policy in any manner that could reasonably be expected to result in an Adverse Effect, except as required by Requirements of Law or as ordered by a
court of competent jurisdiction or other Governmental Authority. 

(l)        Further Assurances. It shall do and perform, from
time to time, such acts as are within its power and authority as the Servicer or a Subservicer, as applicable, to maintain the perfection and priority of the security interests in the Loans granted hereunder and under the Loan Purchase Agreement.

 (m)        [Reserved.] 

(n)        Change in Underwriting Guidelines. The Servicer
shall notify each Rating Agency of any change to the underwriting guidelines contained in the Credit and Collection Policy that could reasonably be expected to result in an Adverse Effect. 

In the event any representation, warranty or covenant of the Servicer or any Subservicer contained in paragraphs (h),
(i) or (j) of this Section 3.03 with respect to any Loan is breached (the “Applicable Representations”), which breach materially adversely affects the interests of the Noteholders in such
Loan, and is not cured within forty-five (45) days from the first date on which the Servicer or the breaching Subservicer either (y) is notified by the Issuer, the Indenture Trustee, the Servicer (with respect to any Subservicer), the
North Carolina Trustees or the Depositor of such breach, or (z) discovered such breach, then any Loan or Loans to which such event relates shall be assigned and transferred to the Servicer (or, in the case of the
2021-1A SUBI Loans, reallocated at the direction of the Servicer) on the terms and conditions set forth below. 

The Servicer shall effect such assignment or reallocation, as applicable, by making a deposit into the Collection Account or
other applicable Note Account in immediately available funds not later than the Payment Date immediately following the Collection Period in which such forty-five day period expired in an amount equal to the Repurchase Price of the affected Loans as
of the date of such deposit. The obligation of the Servicer to accept reassignment, reallocation or assignment of such Loans, and to make the deposits, if any, required to be made to the Collection Account or other applicable Note Account as
provided in the preceding paragraph, shall constitute the sole remedy available to the Issuer, the Depositor, the North Carolina Trust, the Noteholders or the Indenture Trustee with respect to a breach of such Applicable Representations, except as
provided in Section 6.04. 
 Upon each such assignment to, reallocation or purchase by the
Servicer, the Issuer shall automatically and without further action sell, transfer, assign, set-over and otherwise convey to the Servicer, without recourse, representation or warranty, all right, title and
interest of the Issuer in and to such Loans, all monies due or to become due and all amounts received or receivable with respect thereto and all proceeds thereof. The Issuer shall execute such documents and instruments of transfer or assignment and
take such other actions as shall be reasonably requested by the Servicer to effect the conveyance of any such Loans pursuant to this Section 3.03 but only upon receipt of an Officer’s Certificate of the Servicer that
states that all conditions set forth in this Section have been satisfied. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 16 

 Section 3.04    Adjustments. If
(i) the Servicer or any Subservicer makes a deposit into the Collection Account or other applicable Note Account in respect of a Collection of a Loan and such Collection was received by the Servicer or such Subservicer in the form of a check or
other payment which is not honored or is reversed for any reason or (ii) the Servicer or any Subservicer makes a mistake with respect to the amount of any Collection and deposits an amount that is less than or more than the actual amount of
such Collection, the Servicer or such Subservicer shall appropriately adjust the amount subsequently deposited into the Collection Account or other applicable Note Account to reflect such dishonored or reversed payment or mistake. Any such
adjustment shall be reflected in the records of the Servicer or the applicable Subservicer with respect to such Loan. 

Section 3.05    Back-up Servicing Agreement.
(a) The Servicer shall comply with its obligations under the Back-up Servicing Agreement and the other Transaction Documents to which it is a party (in its capacity as Servicer). 

(b)        Each Subservicer hereby agrees that it shall cooperate with the Servicer
in the performance of the Servicer’s duties under the Back-up Servicing Agreement, during any Servicing Centralization Period and any Servicing Transition Period. 

Section 3.06    Monthly Servicer Report. Not later than the Monthly Determination Date
relating to each Payment Date, but in no event later than the second Business Day preceding each Payment Date, the Servicer shall deliver to the Issuer, each Rating Agency, the Back-up Servicer, the Owner
Trustee and the Indenture Trustee the Monthly Servicer Report, in substantially the form set forth in the Indenture. The Servicer shall calculate and provide to the Indenture Trustee in writing all applicable original issue discount information
relating to the Notes in a timely manner in order to enable the Indenture Trustee to perform any reporting obligations with respect thereto. 

Section 3.07    Annual Compliance Certificate. The Servicer shall deliver to the Issuer, each
Rating Agency and the Indenture Trustee on or before March 31 of each calendar year, beginning with March 31, 2022, an Officer’s Certificate substantially in the form of Exhibit B hereto, together with an agreed upon procedures
letter delivered by a firm of nationally recognized independent public accountants (who may also render other services to the Servicer or the Seller) with respect to the Servicer’s activities under the Transaction Documents. 

Section 3.08    Copies of Reports Available. A copy of each Monthly Servicer Report and
Officer’s Certificate (but not letters or reports from the independent public accountants) provided pursuant to Section 3.06 or 3.07 will be made available by the Indenture Trustee to the Noteholders via its
website at www.ctslink.com. 
 Section 3.09    Notices To Regional Management Corp.
In the event that Regional Management is no longer acting as Servicer, any Successor Servicer shall deliver to the Issuer, each Rating Agency, the Owner Trustee and the Indenture Trustee each Monthly Servicer Report, Officer’s Certificate and
report required to be provided thereafter pursuant to Section 3.06, 3.07 or 3.08. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 17 

 Section 3.10    Subservicing. (a) Each
Subservicer shall be responsible for the servicing and administration of the Loans for which such Subservicer is designated as the Subservicer on the Loan Schedule; provided, however, that the Servicer may redesignate the Subservicers
for particular Loans from time to time; provided, further, that any such redesignation will comply with licensing regulations applicable to such Subservicers. Each Subservicer shall service and administer the related Loans in
accordance with the provisions of Section 3.01. As part of its servicing activities hereunder, the Servicer shall enforce the obligations of each Subservicer under this Agreement. Such enforcement, including, without
limitation, the legal prosecution of claims, termination of Subservicers, and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Servicer, in its good faith business judgment,
would require were it the owner of the related Loans. The Servicer shall pay the costs of such enforcement at its own expense. 

(b)        The Servicer shall be entitled to terminate the subservicing of the Loans
by any Subservicer under this Agreement at any time in its sole discretion. In the event of termination of any Subservicer, the Servicer shall either (A) directly service the related Loans, but only to the extent the Servicer has the regulatory
authorizations to do so, or (B) appoint another duly licensed Subservicer to service and administer such Loans and, in either case, such entity shall assume all such servicing obligations immediately upon such termination. Notwithstanding
anything else to the contrary contained herein, all rights and obligations of the Subservicers under this Agreement shall terminate upon the occurrence of a Servicing Transfer Date (including the Servicing Assumption Date) and the related successor
Servicer will not be required to enforce the obligations of any prior Subservicer that has been terminated in connection with such Servicing Transfer Date; provided, however, that any Subservicer may be engaged (and each Subservicer
has agreed to reasonably cooperate with the Back-up Servicer or any other Successor Servicer in arranging any such engagement) by any Successor Servicer, including the
Back-up Servicer, on terms reasonably satisfactory to such Subservicer, to provide servicing and administration of the Loans subject to the direction of such Successor Servicer (including the Back-up Servicer). 
 (c)        Each Subservicer
shall make available to the Servicer sufficient information relating to the subservicing of Loans under this Agreement so as to enable the Servicer to prepare and deliver the Monthly Servicer Report and Officer’s Certificate required by
Sections 3.06 and 3.07 of this Agreement. Each Subservicer will provide or cause to be provided to the independent service provider selected by the Servicer to furnish any report required by Section 3.07 of
this Agreement sufficient information relating to the subservicing of Loans under this Agreement, or reasonable access to the premises of such Subservicer, as reasonably required by such independent service provider to furnish such report required
by Section 3.07 of this Agreement. 
 (d)        Each
Subservicer shall be entitled to compensation for its services as a Subservicer under this Agreement by the Servicer as agreed to by the Servicer and such Subservicer, and no Subservicer will be entitled to any fee or other payment from, or claim
on, any of the assets in the Trust Estate. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 18 

 (e)        Notwithstanding the
appointment of the Subservicers for any such servicing and administration of the related Loans or any other purpose hereunder, the Servicer shall remain obligated and solely liable to the Issuer, the North Carolina Trust, the Indenture Trustee and
the Noteholders for the servicing and administering of the Loans in accordance with the provisions of Section 3.01 without diminution of such obligation or liability by virtue of such subservicing arrangement to the same
extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Loans. 

(f)        The parties hereto acknowledge and agree that Regional North Carolina will
act as the Subservicer with respect to the 2021-1A SUBI Assets. 

Section 3.11    Custody of Receivable Files. 

(a)        Custody. The Issuer, the North Carolina Trust and the Indenture
Trustee, upon the execution and delivery of this Agreement, hereby revocably appoint the Servicer, and the Servicer hereby accepts such appointment, to act as the agent (solely in its capacity as Servicer under the Transaction Documents) of the
Issuer, the North Carolina Trust and the Indenture Trustee, solely in the Servicer’s capacity as custodian of the Contracts. 

(b)        Safekeeping. The Servicer, in its capacity as custodian, or a
Subservicer, appointed by the Servicer as subcustodian pursuant to Section 3.11(e), shall hold the Contracts (i) in physical form (or, in the case of Convenience Checks, in physical or electronic form) or (ii) with respect to each
Loan originated in electronic form, in electronic form in the Electronic Vault, provided that if a contract is Exported from the Electronic Vault, the Custodian shall hold such Contract in physical form in accordance with its customary servicing
practices. The custodian or, if applicable, any Subservicer appointed by it as subcustodian (in the case of Loans held in physical form) will hold such Contracts for the benefit of the Issuer and the Indenture Trustee, as pledgee of the Issuer or
the North Carolina Trust, as applicable; provided, that the Servicer, in its capacity as custodian, shall ensure that the Electronic Contracts are maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee
(for the benefit of the Noteholders) in the Electronic Vault. The Electronic Vault will be controlled by the Servicer in its capacity as custodian hereunder. In performing its duties as custodian, the Servicer shall act in accordance with its
customary servicing practices. The Servicer will promptly report to the Issuer, the 2021-1A SUBI Trustee and the Indenture Trustee any failure on its part (or, if applicable, a subcustodian’s part) to
hold a material portion of the Contracts (including Electronic Contracts, but not including any Convenience Checks) and maintain its account, records, and computer systems as herein provided and promptly take appropriate action to remedy any such
failure. Nothing herein will be deemed to require an initial review or any periodic review by the Issuer or the Indenture Trustee of the Contracts. The Servicer may, in accordance with its customary servicing practices, maintain all or a portion of
a Contract in electronic form in the Electronic Vault and/or maintain custody of all or any portion of a Contract with one or more Persons to whom the Servicer has delegated responsibilities in accordance with Section 6.07. The Servicer will
maintain each Contract in the United States (it being understood that (i) the Contracts, or any part thereof, may be maintained at the offices of any Person to whom the Servicer has delegated responsibilities in accordance with
Section 6.07 and (ii) Electronic Contracts shall be maintained in the Electronic Vault). The Servicer will make available to the Issuer and the Indenture Trustee or their duly authorized representatives, attorneys or auditors a list of
locations of the Contracts upon request. Notwithstanding any reference herein or in any other Transaction Document to the Electronic Vault Provider acting as a designated custodian of the Indenture Trustee, the parties hereto acknowledge and agree
that the Indenture Trustee shall not be liable for, and shall have no duty to supervise or monitor, the default, misconduct or any other action or omission of the Electronic Vault Provider, and that the Indenture Trustee may assume the Electronic
Vault Provider’s performance of its duties and obligations under the Transaction Documents. The Servicer shall cause the Electronic Vault to reflect the name of the applicable Owner of Record as follows: “Regional Management Issuance Trust
2021-1/Regional Management NC Receivables Trust, solely with respect to 2021-1A SUBI”. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 19 

 (c)        Effective Period and
Termination. The Servicer’s appointment as custodian with respect to any Loan shall become effective as of the Cut-Off Date for such Loan and will continue in full force and effect until terminated
pursuant to this Section 3.11(c) (or such Loan ceases to be a Sold Asset or 2021-1A SUBI Asset, as applicable); provided, the Servicer’s appointment as custodian in respect of the Initial Loans shall
be deemed to have been effective as of the Initial Cut-Off Date. If Regional Management resigns as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of the
Servicer have been terminated under Section 8.01, the Indenture Trustee may (and upon the written direction of the Required Noteholders shall) terminate the appointment of the Servicer as custodian hereunder in the same manner as the Indenture
Trustee may terminate the rights and obligations of the Servicer under Section 8.01. In the event that the Custodian is terminated in such capacity, each Subservicer will be terminated as subcustodian for each Loan with respect to which it is
then acting in such capacity. Upon the resignation or termination of the Servicer in accordance with this Agreement, control of the Contracts in the Electronic Vault shall be transferred to the Back-up
Servicer to the extent it becomes the successor servicer in accordance with this Agreement, or another successor servicer. In the event that the Back-up Servicer assumes servicing responsibilities or a
successor Servicer, as applicable, is appointed, the outgoing Servicer shall promptly transfer to the Back-up Servicer or a successor Servicer, as applicable, in such manner and to such location as the Back-up Servicer or a successor Servicer, as applicable, shall reasonably designate, all of the Contracts and other Related Loan Assets in its possession or control; provided, however, if the Back-up Servicer is the successor Servicer, it shall (i) notify the Electronic Vault Provider of the transfer of servicing responsibilities to the Back-up Servicer as
Successor Servicer and (ii) accept the transfer of possession of the Electronic Vault to the Back-up Servicer as Successor Servicer; it being agreed by the Servicer that it shall reasonably cooperate with
the Back-up Servicer with respect to effecting any such election, notification or transfer. 

(d)        Establishment of Imaging System. Other than with respect to any
Electronic Contract, the Servicer shall maintain an imaging system through which the original physical Contract and, with respect to any Hard Secured Loan, the original physical certificate of title with respect to the Titled Asset securing such
Hard Secured Loan may be imaged and captured through a standalone PDF, or another electronic medium, device and validated through an internal, controlled process with images captured, stored and identifiable at a central location as a backup to
physical documentation. For the avoidance of doubt, the Servicer shall cause imaged files with respect to which the related Contract is an Electronic Contract to be stored in the Electronic Vault and such imaged files will not be delivered to or
reviewed or retained by the Image File Custodian. 

(e)        Subcustodian. The Servicer, in its capacity as custodian, may
appoint a Subservicer as subcustodian with respect to any Contract pursuant to Section 6.07. In the event that the custodian is terminated in such capacity hereunder, each subcustodian will be terminated as subcustodian for
each Loan with respect to which it is then acting in such capacity. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 20 

 ARTICLE IV 

COLLECTIONS AND ALLOCATIONS 

Section 4.01    Collections and Allocations. (a) The Servicer shall comply with its
obligations in Article VIII of the Indenture. 
 (b)        Each Subservicer shall
deliver any Collections received by such Subservicer to the Servicer for deposit into the Collection Account in accordance with Section 8.03 of the Indenture. 

ARTICLE V 
 OTHER
MATTERS RELATING TO THE DEPOSITOR 
 Section 5.01    Liability of the Depositor. The
Depositor shall be liable for all obligations, covenants, representations and warranties of the Depositor arising under or related to this Agreement and each other Transaction Document to which it is a party. The Depositor shall be liable only to
the extent of the obligations specifically undertaken by it in its capacity as a Depositor. 

Section 5.02    Merger or Consolidation of the Depositor. (a) The Depositor shall not
dissolve, liquidate, consolidate with or merge into any other corporation, limited liability company or other entity or convey, transfer or sell (other than conveyances hereunder) its properties and assets substantially as an entirety to any Person
unless: 
 (i)        the entity formed by such consolidation or
into which the Depositor is merged or the Person which acquires by conveyance, transfer or sale the properties and assets of the Depositor substantially as an entirety shall be, if the Depositor is not the surviving entity, organized and existing
under the laws of the United States of America or any state or the District of Columbia, and shall be a special purpose corporation or other special purpose entity whose powers and activities are limited and, if the Depositor is not the surviving
entity, such entity or Person shall expressly assume, by a written agreement supplemental hereto, executed and delivered to the Servicer, the Issuer and the Indenture Trustee, in form reasonably satisfactory to the Servicer, the Issuer and the
Indenture Trustee, the performance of every covenant and obligation of the Depositor hereunder; 

(ii)        the Depositor or the surviving or transferee entity, as
the case may be, has delivered to the Issuer and the Indenture Trustee (with a copy to each Rating Agency) (A) an Officer’s Certificate of the Depositor or such entity stating that such consolidation, merger, conveyance, transfer or sale
and such supplemental agreement complies with this Section 5.02 and that all conditions precedent herein provided for relating to such transaction have been complied with and (B) an Officer’s Certificate of the
Depositor or such entity and an Opinion of Counsel each stating that such supplemental agreement is a valid and binding obligation of such surviving entity enforceable against such surviving entity in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally from time to time in effect or general principles of equity; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 21 

 (iii)        the
Depositor or the surviving or transferee entity, as the case may be, has delivered to the Indenture Trustee and the Servicer an Officer’s Certificate of the Depositor or such entity to the effect that in the reasonable belief of the Depositor
or such entity, such consolidation, merger, conveyance, transfer, sale or other specified action will not have an Adverse Effect; and 

(iv)        the Rating Agency Notice Requirement with respect to such
consolidation, merger, conveyance, transfer, sale or other specified action has been satisfied. 
 Promptly upon such
consolidation, merger, conveyance, transfer or sale, the Depositor shall deliver written notice of the same to each Rating Agency. 

(b)        Except in connection with a transaction permitted under the foregoing
clause (a), the obligations, rights or any part thereof of the Depositor hereunder shall not be assignable nor shall any Person succeed to such obligations or rights of the Depositor hereunder. The sale or other conveyance of Loans by the
Depositor to the Issuer under this Agreement shall not constitute a conveyance, transfer or sale of its properties or assets substantially as an entirety to any Person for purposes of this Section 5.02. 

Section 5.03    Limitations on Liability of the Depositor. Subject to
Section 5.01, none of the Depositor or any of the directors, officers, employees, agents, members or managers of the Depositor acting in such capacities shall be under any liability to the Issuer, the Servicer, any
Subservicer, the Seller, the North Carolina Trust, the Owner Trustee, the Indenture Trustee, the Noteholders or any other Person for any action taken or for refraining from the taking of any action in good faith in such capacities pursuant to this
Agreement or any other Transaction Document, it being expressly understood that such liability is expressly waived and released as a condition of, and consideration for, the execution of this Agreement; provided, however, that this
provision shall not protect the Depositor or any such Person against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of reckless disregard
of obligations and its duties hereunder. The Depositor and any director, officer, employee, member or manager or agent of the Depositor may rely in good faith on any document of any kind prima facie properly executed and submitted by any
Person (other than the Depositor) respecting any matters arising hereunder. 

Section 5.04    Limitations on Liability of the Depositor. 

(a)        The Depositor shall not enter into any Permitted Securitization
Transaction Document in connection with any Permitted Securitization unless such Permitted Securitization Transaction Document contains provisions substantially similar in form, substance and effect to Sections 10.07(a) and 10.15(a)
hereof and Section 11.19 of the Indenture and Section 9.14 of the Loan Purchase Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 22 

 (b)        Other than the
Transaction Documents, the Depositor shall not enter into any Permitted Securitization Transaction Document except in connection with a Permitted Securitization. 

ARTICLE VI 
 OTHER
MATTERS RELATING TO THE SERVICER AND THE SUBSERVICERS 
 Section 6.01    Liability of
Servicer and the Subservicers. The Servicer and the Subservicers shall be liable under this Article VI only to the extent of the obligations specifically undertaken by the Servicer or such Subservicer in its capacity as Servicer or
Subservicer, as applicable, subject to Section 3.10(e). 

Section 6.02    Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or
a Subservicer. Neither the initial Servicer nor a Subservicer shall consolidate with or merge into any other corporation, limited partnership, limited liability company or other entity or convey, transfer or sell its properties and assets
substantially as an entirety to any Person (other than any conveyance, transfer or sale by a Subservicer of its properties and assets to the initial Servicer or another Subservicer, provided that the transferor Subservicer continues to exist after
such conveyance, transfer or sale), unless: 
 (a)        (i) in the case of any
such event by the initial Servicer, the entity formed by such consolidation or merger into which the initial Servicer is merged (in each case, if other than the initial Servicer) or the Person which acquires by conveyance, transfer or sale the
properties and assets of the initial Servicer substantially as an entirety shall be an Eligible Servicer (after giving effect to such consolidation, merger or transfer) and (ii) in the case of any such event by the initial Servicer or any
Subservicer, if the initial Servicer or such Subservicer is not the surviving Person, such surviving Person shall expressly assume, by a written agreement supplemental hereto, executed and delivered to the Issuer, the Indenture Trustee and the
Depositor in a form reasonably satisfactory to the Issuer, the Indenture Trustee and the Depositor, the performance of every covenant and obligation of the initial Servicer or such Subservicer hereunder and under each other Transaction Document to
which it is a party; 
 (b)        the initial Servicer or the Subservicer, as
applicable, or the surviving Person of such consolidation or merger or Person which acquires the properties and assets of the initial Servicer or Subservicer, as the case may be, has delivered to the Issuer, the Indenture Trustee and the Depositor
(A) an Officer’s Certificate of the initial Servicer, such Subservicer or such entity, as applicable, stating that such consolidation, merger, conveyance, transfer or sale complies with this Section 6.02 and that,
in the reasonable determination of the officer signing such Officer’s Certificate, such consolidation, merger, conveyance, transfer or sale will not have an Adverse Effect, and (B) an Opinion of Counsel stating that such supplemental
agreement described in clause (a) is a valid and binding obligation of such surviving or transferee Person enforceable against such Person in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally from time to time in effect or general principles of equity; and 

(c)        the Rating Agency Notice Requirement with respect to such consolidation,
merger, conveyance, transfer or sale has been satisfied, 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 23 

 
provided, however, that the sale by the Seller of Loans to the Depositor under the Loan Purchase Agreement shall not be a conveyance, transfer or sale of its properties or assets
substantially as an entirety to any Person for purposes of this Section 6.02. 
 Upon any such
merger, consolidation or transfer of all or substantially all of the assets of the initial Servicer or a Subservicer in accordance with this Section 6.02, the surviving or transferee Person shall be the successor to and
substituted for the initial Servicer or such Subservicer, as applicable, for all purposes under this Agreement. 
 If a
Successor Servicer consolidates with, merges or converts into, or transfers or sells all or substantially all of its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee
corporation or banking association without any further act shall be the successor to and substituted for such Successor Servicer for all purposes under this Agreement. 

Section 6.03    Limitation on Liability of the Servicer, the Subservicers and Others.
(a) Except as provided in Section 6.04, neither the Servicer nor any of the directors, officers, partners, members, managers, employees or agents of the Servicer in its capacity as Servicer shall be under any liability
to the Issuer, the Owner Trustee, the North Carolina Trust, the Indenture Trustee, the Noteholders or any other Person for any action taken or for refraining from the taking of any action in good faith in its capacity as Servicer in accordance with
this Agreement and the 2021-1A SUBI Servicing Agreement; provided, however, that this provision shall not protect the Servicer or any such Person against any liability which would otherwise be imposed by
reason of willful misfeasance, bad faith or negligence (or, if the Servicer is not Regional Management, gross negligence) in the performance of its duties or by reason of reckless disregard of its obligations and its duties hereunder. The Servicer
and any director, officer, employee, partner, shareholder, member or manager or agent of the Servicer may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person (other than the Servicer) respecting
any matters arising hereunder. The Servicer shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its duties as Servicer in accordance with this Agreement and which in its reasonable judgment
may involve it in any material expense or liability. In furtherance of its obligations hereunder, the Servicer may, in its sole discretion, undertake any such legal action which it may deem necessary or desirable for the benefit of the Issuer and
the Noteholders with respect to this Agreement and the rights and duties of the parties hereto and the interests of the Issuer and the Noteholders hereunder. 

(b)        Except as provided in Section 6.04, neither any
Subservicer nor any of the directors, officers, partners, shareholders members, managers, employees or agents of a Subservicer in its capacity as a Subservicer shall be under any liability to the Issuer, the Owner Trustee, the North Carolina Trust,
the Indenture Trustee, the Noteholders, the Servicer or any other Person for any action taken or for refraining from the taking of any action in good faith in its capacity as a Subservicer pursuant to this Agreement; provided, however, that this
provision shall not protect a Subservicer or any such Person against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or negligence (or, if such Subservicer is not an Affiliate of Regional Management, gross
negligence) in the performance of its duties or by reason of reckless disregard of its obligations and its duties hereunder. Each Subservicer and any director, officer, employee, partner, member or manager or agent of a Subservicer may rely in good
faith on any document of any kind prima facie properly executed and submitted by any Person (other than such Subservicer) respecting any matters arising hereunder. No Subservicer shall be under any obligation to appear in, prosecute or defend
any legal action which is not incidental to its duties as a Subservicer in accordance with this Agreement and which in its reasonable judgment may involve it in any expense or liability. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 24 

 Section 6.04    Servicer Indemnification of the
Issuer, the Owner Trustee and the Indenture Trustee. The Servicer shall indemnify and hold harmless each of the Issuer, the Owner Trustee (as such and in its individual capacity), the Indenture Trustee (as such and in its individual capacity)
and any trustees predecessor thereto (including the Indenture Trustee in its capacity as Note Registrar), and the Back-up Servicer (as such and in its individual capacity), the North Carolina Trust, the North
Carolina Trustees and their respective directors, officers, employees, partners, members or managers and agents from and against any and all loss, liability, expense, damage or injury suffered or sustained by reason of any acts or omissions of the
Servicer (including in its capacity as 2021-1A SUBI Servicer and as custodian of any Contracts pursuant to Section 3.11) or a Subservicer with respect to the Issuer in breach of this
Agreement or the 2021-1A SUBI Servicing Agreement or any other Transaction Document to which the Servicer is a party (other than such as may arise from the gross negligence or willful misconduct of the Owner
Trustee, the Back-up Servicer or the Indenture Trustee, as applicable), including any judgment, award, settlement, reasonable attorneys’ fees and other costs or expenses incurred in connection with the
defense of any action, Proceeding or claim. In addition, the Servicer shall indemnify and hold the Issuer harmless for any tax or fee to which the Issuer or the North Carolina Trust becomes subject in any jurisdiction by reason of the Servicer or a
Subservicer being located in such jurisdiction or performing servicing activities in such jurisdiction. Indemnification pursuant to this Section 6.04 shall not be payable from the Sold Asset or the 2021-1A SUBI Assets. Notwithstanding anything to the contrary herein, neither the Servicer nor any Subservicer shall in any event be responsible or liable for special, indirect, or consequential loss or damage of
any kind whatsoever (including, without limitation, loss of profit) irrespective of whether the Servicer or such Subservicer, as applicable, has been advised of the likelihood of such loss or damage and regardless of the form of action. 

Section 6.05    Resignation of the Servicer and the Subservicers. (a) The Servicer shall
not resign from the obligations and duties imposed on it hereunder, under the 2021-1A SUBI Servicing Agreement or the Indenture except upon a determination that (i) the performance of its duties
hereunder, under the 2021-1A SUBI Servicing Agreement or the Indenture is no longer permissible under applicable law and (ii) there is no reasonable action which the Servicer could take to make the
performance of its duties hereunder, under the 2021-1A SUBI Servicing Agreement or the Indenture permissible under applicable law. Any determination permitting the resignation of the Servicer shall be
evidenced by an Opinion of Counsel to such effect delivered to the Owner Trustee, the Back-up Servicer and the Indenture Trustee. No resignation shall become effective until a Successor Servicer (which shall
be the Back-up Servicer unless the Back-up Servicer is the resigning Servicer) or the Indenture Trustee shall have assumed the responsibilities and obligations of the
Servicer in accordance with Section 8.02 hereof, the 2021-1A SUBI Servicing Agreement and the Indenture (other than in the case of the Back-up
Servicer, any such duty or obligation that it is not required to assume under the express terms of the Back-up Servicing Agreement, the 2021-1A SUBI Servicing Agreement,
this Agreement or the Indenture). If within one hundred twenty (120) days of the date of the determination that the Servicer may no longer act as Servicer as described above, the Indenture Trustee is unable to appoint a Successor Servicer, the
Indenture Trustee shall serve as Successor Servicer. Notwithstanding the foregoing, the Indenture Trustee shall, if it is legally unable or unwilling so to act, petition a court of competent jurisdiction to appoint any established institution
qualifying as an Eligible Servicer as the Successor Servicer hereunder. The Issuer shall give prompt notice to each Rating Agency upon the appointment of a Successor Servicer. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 25 

 (b)    Notwithstanding
Section 6.05(a), the Servicer may, without the requirement of obtaining the prior consent of any Person, assign part or all of its duties and obligations hereunder, under the 2021-1A
SUBI Servicing Agreement or the Indenture to an Affiliate of the Servicer so long as (i) such entity is an Eligible Servicer as of the date of such assignment, and (ii) the Servicer reasonably determines that such assignment will not
materially adversely affect the interests of any Class of Noteholders; provided, that any such assignment shall not constitute a resignation pursuant to this Section 6.05 

(c)    So long as Regional Management remains the Servicer, no Subservicer shall resign from the
obligations and duties hereby imposed on it except with the consent of the Servicer. Notwithstanding the foregoing, a Successor Servicer may, without the requirement of obtaining the prior consent of any Person, delegate any or all of its duties and
obligations hereunder, under the 2021-1A SUBI Servicing Agreement and the Indenture to one or more subservicers; provided, that such Successor Servicer shall remain obligated and solely liable to the
Depositor, the Indenture Trustee, the North Carolina Trust, and the Issuer for its duties, obligations and liabilities under this Agreement, the 2021-1A SUBI Servicing Agreement and the Indenture to the same
extent and under the same terms and conditions as if such Successor Servicer were acting alone; provided, further, that any such delegation shall not constitute a resignation pursuant to this Section 6.05. 

Section 6.06    Access to Certain Documentation and Information Regarding the Loans. The
Servicer and each Subservicer (including in its capacity as custodian or subcustodian, as applicable) shall provide to the Issuer or the Indenture Trustee, as applicable, access to the documentation regarding the Loans in such cases where the Issuer
or the Indenture Trustee, as applicable, is required in connection with the enforcement of the rights of the Issuer, the North Carolina Trust or the Noteholders or by applicable statutes or regulations to review such documentation, such access being
afforded without charge but only (a) upon reasonable request, (b) during normal business hours, (c) subject to the Servicer’s or Subservicer’s, as applicable, normal security and confidentiality procedures and (d) at
reasonably accessible offices in the continental United States designated by the Indenture Trustee, the Servicer or Subservicer, as applicable. Nothing in this Section shall derogate from the obligation of the Depositor, the Issuer, the North
Carolina Trust, the Subservicer and the Servicer to observe any applicable law or regulation prohibiting disclosure of information regarding the Loan Obligors and the failure of the Servicer or Subservicer to provide access as provided in this
Section as a result of such obligation shall not constitute a breach of this Section. 

Section 6.07    Delegation of Duties. In the ordinary course of business (and subject to the
standard of care set forth in Section 3.01), the Servicer (including any Successor Servicer) may at any time delegate its duties hereunder with respect to the Loans to any Person or enter subservicing arrangements with any
Person (including the Subservicers) that agrees to conduct such duties in accordance with the Credit and Collection Policy and this Agreement. Such delegation shall not relieve the Servicer of its liability and responsibility with respect to such
duties, and shall not constitute a resignation pursuant to Section 6.05. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 26 

 Section 6.08    Examination of Records. The
Depositor, each Subservicer (with respect to the Loans being subserviced by it) and the Servicer shall indicate generally in their computer files or other records that the Loans have been conveyed to the Issuer pursuant to the terms of this
Agreement and the 2021-1A SUBI Supplement. Each of Depositor, each Subservicer and the Servicer shall, prior to the sale or transfer to a third party of any loan held in its custody, examine its computer
records and other records to determine that such loan is not, and does not include, a Loan. Upon such examination and conclusion that such loan is not, and does not include, a Loan, the Depositor, each Subservicer and the Servicer shall be free to
sell, transfer or otherwise assign such loan. 
 Section 6.09    Servicer Power of
Attorney. The Issuer and the North Carolina Trust hereby authorize the Servicer acting alone or through an Affiliate, including the Subservicers, to execute, deliver and perform any and all agreements, documents or certificates as the Issuer may
be requested or required by the Issuer or the North Carolina Trust, as applicable, to undertake in connection with enforcing its rights as the legal title holder to the Loans. In connection with the enforcement of any rights of the Issuer or the
North Carolina Trust, as applicable, with respect to any Loan, the Issuer or the North Carolina Trust, as applicable, shall furnish the Servicer or Subservicers, as applicable, with a power of attorney (substantially in the form of Exhibit G
hereto) and any other documents reasonably necessary or appropriate to enable the Servicer to enforce such rights on behalf of the Issuer. 

ARTICLE VII 
 INSOLVENCY
EVENTS 
 Section 7.01    Rights upon the Occurrence of an Insolvency Event. The
Depositor shall, on the day that any Insolvency Event occurs with respect to the Depositor, immediately cease to transfer Additional Loans to the Issuer and the Depositor shall promptly give notice to the Indenture Trustee and the Issuer thereof.
Loans transferred to the Issuer prior to the occurrence of such Insolvency Event and Collections in respect of such Loans transferred to the Issuer shall continue to be a part of the Sold Assets and shall be allocated and distributed to Noteholders
in accordance with the terms of this Agreement and the Indenture. 
 ARTICLE VIII 

SERVICER DEFAULTS 

Section 8.01    Servicer Defaults. If any one of the following events (a “Servicer
Default”) shall occur and be continuing: 
 (a)    any failure by the Servicer to make any
required payment, transfer or deposit or to give instructions or notice to the Indenture Trustee to make such payment, transfer or deposit on or before the date such payment, transfer or deposit or such instruction or notice is required to be made
or given, as the case may be, under the terms of this Agreement, the Indenture, the 2021-1A SUBI Supplement or the 2021-1A SUBI Servicing Agreement, in an aggregate
amount exceeding $50,000, and which failure continues unremedied for a period of five (5) Business Days after the earlier of (i) the date on which notice of such failure, requiring the same to be remedied, shall have been given by
registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or to the Servicer, the Issuer and the Indenture Trustee by the Required Noteholders and (ii) the actual knowledge of the Servicer thereof; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 27 

 (b)    any failure on the part of the Servicer duly to
observe or perform any other covenants or agreements of the Servicer set forth in this Agreement, the Indenture, the 2021-1A SUBI Supplement or the 2021-1A SUBI
Servicing Agreement or in any certificate delivered by the Servicer pursuant to this Agreement, the 2021-1A SUBI Supplement, the 2021-1A SUBI Servicing Agreement or the
Indenture, which failure has a material adverse effect on the interests of the Noteholders (as determined by the Threshold Noteholders) and which continues unremedied for a period of forty-five (45) days after the earlier of (i) the date
on which notice of such failure, requiring the same to be remedied, shall have been given by registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or to the Servicer, the Issuer and the Indenture Trustee by the
Threshold Noteholders and (ii) the actual knowledge of the Servicer thereof; 
 (c)    any
representation, warranty or certification made by the Servicer in this Agreement, the Indenture, the 2021-1A SUBI Supplement or the 2021-1A SUBI Servicing Agreement or
in any certificate delivered by the Servicer pursuant to this Agreement, the Indenture, the 2021-1A SUBI Supplement or the 2021-1A SUBI Servicing Agreement shall prove
to have been incorrect when made or deemed made and such failure has a material adverse effect on the Noteholders (as determined by the Threshold Noteholders) and which continues unremedied for a period of forty-five (45) days after the earlier
of (i) the date on which a notice specifying such incorrect representation or warranty and requiring the same to be remedied, shall have been given by registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or to
the Servicer, the Issuer, and the Indenture Trustee by the Threshold Noteholders and (ii) the actual knowledge of the Servicer thereof; or 

(d)    an Insolvency Event shall occur with respect to the Servicer; 

then, in the event of any Servicer Default, so long as a Servicer Default is continuing, the Indenture Trustee may (and upon the written
direction of the Required Noteholders shall), by notice then given to the Servicer, the Issuer, the North Carolina Trust and the Back-up Servicer (a “Termination Notice”) (i) terminate all of
the rights and obligations of the Servicer as Servicer under this Agreement, the 2021-1A SUBI Supplement, the 2021-1A SUBI Servicing Agreement and the Indenture and
(ii) direct the applicable party to terminate any power of attorney granted to the Servicer or any Subservicer and direct such party to execute a new power of attorney to the Indenture Trustee or its designee. The existence of a Servicer
Default may be waived with the consent of the Required Noteholders. 
 Notwithstanding the foregoing, a delay in or failure
of performance referred to under paragraph (a) above for an additional period of five (5) Business Days after the applicable grace period or referred to under paragraph (b) or (c) above for a period of forty-five (45) days after
the applicable grace period, shall not constitute a Servicer Default if such delay or failure could not be prevented by the exercise of reasonable diligence by the Servicer and such delay or failure was caused by a Force Majeure Event. If, following
the expiration of such incremental forty-five (45) day grace period in the case of a delay or failure of performance described in paragraph (b) or (c) above, the applicable delay or failure of performance remains outstanding but the
Servicer continues to work diligently to remedy such delay or failure of performance, then the grace period shall be extended for a further thirty (30) days upon notice from the Servicer to the Indenture Trustee. The preceding sentences will
not relieve the Servicer from using all commercially reasonable efforts to perform its obligations in a timely manner in accordance with the terms of this Agreement and the Servicer shall provide the Indenture Trustee, the Issuer and the Depositor
with an Officer’s Certificate giving prompt notice of such failure or delay, together with a description of its efforts so to perform its obligations. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 28 

 After receipt by the Servicer of a Termination Notice, and effective on the
Servicing Transfer Date, all authority and power of the Servicer under this Agreement shall pass to and be vested in the Successor Servicer (a “Servicing Transfer”) appointed by the Indenture Trustee (at the written direction of the
Required Noteholders if the Successor Servicer is not the Back-up Servicer or the Indenture Trustee) pursuant to Section 8.02; and, without limitation, the Indenture Trustee is hereby
authorized and empowered (upon the failure of the Servicer to cooperate promptly) to execute and deliver, on behalf of the Servicer, as attorney-in-fact or otherwise,
all documents and other instruments upon the failure of the Servicer to execute or deliver such documents or instruments, and to do and accomplish all other acts or things necessary or appropriate to effect the purposes of such Servicing Transfer.
The Servicer agrees to reasonably cooperate and to cause each Subservicer to reasonably cooperate (and each Subservicer agrees to cooperate) with the Indenture Trustee and such Successor Servicer in (i) effecting the termination of the
responsibilities and rights of the Servicer to conduct servicing hereunder and (ii) transferring all duties and obligations of the Servicer hereunder to such Successor Servicer, including the transfer to such Successor Servicer of all authority
of the Servicer to service and administer the Loans provided for under this Agreement, including all authority over all Collections which shall on the date of transfer be held by the Servicer for deposit, or which have been deposited by the
Servicer, in the Collection Account or other applicable Note Account, or which shall thereafter be received with respect to the Loans, and in assisting the Successor Servicer. The Servicer shall transfer to the Successor Servicer all its electronic
records relating to the Loans, together with all other records, correspondence and documents necessary for the continued servicing and administration of the Loans in the manner and at such times as the Successor Servicer shall reasonably request.
Notwithstanding the foregoing, the Servicer shall be allowed to retain a copy of all records, correspondence and documents provided to the Successor Servicer in compliance with the Servicer’s recordkeeping policies or Requirements of Law. The
predecessor Servicer shall be responsible for all expenses incurred in transferring the servicing duties to the Successor Servicer. To the extent that compliance with this Section shall require the Servicer to disclose to the Successor Servicer
information of any kind which the Servicer deems to be confidential or give the Successor Servicer access to software or other intellectual property, the Successor Servicer shall be required to enter into such customary licensing and confidentiality
agreements as the Servicer shall deem reasonably necessary to protect its interests. 

Section 8.02    Indenture Trustee to Act; Appointment of Successor. (a) On and after the
receipt by the Servicer of a Termination Notice pursuant to Section 8.01, the Servicer shall continue to perform all servicing functions under this Agreement and the 2021-1A SUBI
Servicing Agreement until the earlier of (i) the date specified in the Termination Notice or otherwise specified by the Indenture Trustee and (ii) the Servicing Transfer Date. The Indenture Trustee shall as promptly as possible after the
giving of a Termination Notice appoint (at the written direction of the Required Noteholders in the case of a Successor Servicer that is not the Back-up Servicer or the Indenture Trustee) an Eligible Servicer
(which shall be the Back-up Servicer unless the Back-up Servicer is then acting as the Servicer) as a successor Servicer (the “Successor Servicer”), and
such Successor Servicer shall accept its appointment by a written assumption in a form acceptable to the Indenture Trustee. In the event that a Successor Servicer has not been appointed or has not accepted its appointment at the time when the
Servicer ceases to act as Servicer, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer. The Indenture Trustee may delegate any of its servicing obligations to an Affiliate or agent in accordance with
Section 3.01(b) and Section 6.07. Notwithstanding the foregoing, the Indenture Trustee shall, if it is legally unable or unwilling so to act, petition a court of competent jurisdiction to appoint
any established institution qualifying as an Eligible Servicer as the Successor Servicer hereunder and under the 2021-1A SUBI Servicing Agreement. The Indenture Trustee shall give prompt notice to each Rating
Agency upon the appointment of a Successor Servicer. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 29 

 (b)    Upon its appointment, the Successor Servicer
shall be the successor in all respects to the Servicer with respect to servicing functions under this Agreement and the 2021-1A SUBI Servicing Agreement, and shall be subject to all the responsibilities,
duties and liabilities relating thereto placed on the Servicer by the terms and provisions hereof (other than in the case of the Back-up Servicer, any such responsibility, duty or liability that it is not
required to assume under the terms of this Agreement, the Back-up Servicing Agreement or the 2021-1A SUBI Servicing Agreement), and all references in this Agreement to
the Servicer (including 2021-1A SUBI Servicer) shall be deemed to refer to the Successor Servicer. 

Within five (5) Business Days after the Servicer becomes aware of any Servicer Default, the Servicer shall give notice
thereof to the Issuer, the 2021-1A SUBI Trustee, the Indenture Trustee, the Back-up Servicer and each Rating Agency. Upon any termination or appointment of a Successor
Servicer pursuant to this Article VIII, the Indenture Trustee shall give prompt notice thereof to the Noteholders. 

Section 8.03    Rule 15Ga-1 Compliance. (a) To
the extent a Responsible Officer of the Successor Servicer receives a demand for the repurchase of a Loan based on a breach of a representation or warranty made by the Seller (or, with respect to the 2021-1A
SUBI Loans, the Servicer) of such Loan (each, a “Demand”), the Successor Servicer agrees (i) if such Demand is in writing, promptly to forward such Demand to the Depositor, and (ii) if such Demand is oral, to instruct the
requesting party to submit such Demand in writing to the Indenture Trustee and the Depositor. 

(b)    In connection with the repurchase of a Loan pursuant to a Demand, any dispute with respect to a
Demand, or the withdrawal or final rejection of a Demand, the Successor Servicer agrees, to the extent a Responsible Officer of the Successor Servicer has actual knowledge thereof, promptly to notify the Depositor in writing. 

(c)    The Successor Servicer will (i) notify the Depositor, as soon as practicable and in any event
within five (5) Business Days of the receipt thereof and in the manner set forth in Exhibit F hereof, of all Demands and provide to the Depositor any other information reasonably requested to facilitate compliance by it with Rule 15Ga-1 under the Exchange Act, and (ii) if requested in writing by the Depositor, provide a written certification no later than fifteen (15) days following any calendar quarter or calendar year that the
Successor Servicer has not received any Demands for such period, or if Demands have been received during such period, that the Successor Servicer has provided all the information reasonably requested under clause (i) above with respect
to such demands. For purposes of this Agreement, references to any calendar quarter shall mean the related preceding calendar quarter ending in March, June, September, or December, as applicable. The Successor Servicer has no duty or obligation to
undertake any investigation or inquiry related to any repurchases of Loans, or otherwise assume any additional duties or responsibilities, other than those express duties or responsibilities the Successor Servicer has hereunder or under the
Transaction Documents, and no such additional obligations or duties are otherwise implied by the terms of this Agreement. The Depositor has full responsibility for compliance with all related reporting requirements associated with the transaction
completed by the Transaction Documents and for all interpretive issues regarding this information. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 30 

 The Indenture Trustee shall provide the Depositor and the Servicer (each, a
“Regional Party” and, collectively, the “Regional Parties”) with (i) notification, as soon as practicable and in any event within five (5) Business Days, of all demands communicated in writing to a
Responsible Officer of the Indenture Trustee for the repurchase or replacement of any Loan pursuant to this Agreement or the Loan Purchase Agreement, as applicable and (ii) promptly upon receipt by a Responsible Officer of written request by a
Regional Party, any other information reasonably requested by such Regional Party to facilitate compliance by the Regional Parties with Rule 15Ga-1 under the Exchange Act, and Items 1104(e) and 1121(c) of
Regulation AB. In no event shall the Indenture Trustee be deemed to be a “securitizer” as defined in Section 15G(a) of the Exchange Act, nor shall it have any responsibility for making any filing to be made by a securitizer under the
Exchange Act or Regulation AB. 
 ARTICLE IX 

TERMINATION 

Section 9.01    Termination of Agreement as to Servicing. Unless earlier terminated as
contemplated herein, the appointment of the Servicer and the Subservicers under this Agreement and the 2021-1A SUBI Servicing Agreement and the respective obligations and responsibilities of the Issuer, the
Depositor, the North Carolina Trust, the Servicer, the Subservicers and the Indenture Trustee to the Servicer and the Subservicers, as applicable, under this Agreement and the 2021-1A SUBI Servicing Agreement,
and the rights and obligations of the Servicer and the Subservicers under this Agreement and the 2021-1A SUBI Servicing Agreement except with respect to the obligations described in
Section 10.07, shall terminate on the date of termination of the Trust Agreement. Such termination shall be automatic, without any required action of the Depositor, the North Carolina Trust, the Indenture Trustee, the
Issuer or any Noteholder. The obligations and responsibilities of the Indenture Trustee under this Agreement shall terminate upon the termination of the Indenture in accordance with its terms, unless such obligations and responsibilities are
terminated earlier as contemplated herein. 
 ARTICLE X 

MISCELLANEOUS PROVISIONS 

Section 10.01    Amendment; Waiver of Past Defaults; Assignment. (a) This Agreement may
be amended from time to time by the Servicer, the Depositor, the North Carolina Trust, and the Issuer by a written instrument signed by each of them, but without consent of any of the Noteholders, (i) to correct or supplement any provisions
herein which may be inconsistent with any other provisions herein, (ii) to conform the terms of this Agreement to the description hereof in the PPM, or (iii) to add any other provisions with respect to matters or questions arising under or
related to this Agreement which shall not be inconsistent with the provisions of this Agreement; provided, however, that such action shall not adversely affect in any material respect the interest of any of the Noteholders as evidenced by an
Officer’s Certificate of the Depositor to such effect delivered to the Indenture Trustee and the Issuer and the Rating Agency Notice Requirement shall have been satisfied with respect to such amendment. Additionally, this Agreement may be
amended from time to time (including in connection with the issuance of a supplement certificate or to change the definition of Collection Period, Monthly Determination Date or Payment Date) by the Servicer, the North Carolina Trust, the Depositor
and the Issuer by a written instrument signed by each of them, but without the consent of any of the Noteholders; provided that (i) the Depositor shall have delivered to the Indenture Trustee and the Issuer an Officer’s Certificate, dated
the date of any such amendment, stating that the Depositor reasonably believes that such amendment will not have an Adverse Effect and (ii) the Rating Agency Notice Requirement shall have been satisfied with respect to any such amendment.
Notwithstanding anything else to the contrary herein, this Agreement may be amended by the Servicer, the North Carolina Trust, the Depositor and the Issuer by a written instrument signed by each of them, but without the consent of the Noteholders,
upon satisfaction of the Rating Agency Notice Requirement with respect to such amendment (without anything further) as may be necessary or advisable in order to avoid the imposition of any withholding taxes or state or local income or franchise
taxes imposed on the Issuer’s property or its income. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 31 

 (b)    Without limiting
Section 10.01(a), this Agreement may also be amended from time to time by the Servicer, the North Carolina Trust, the Depositor and the Issuer with the consent of the Required Noteholders, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders; provided, however, that no such amendment effected pursuant to this clause
(b) shall (i) reduce in any manner the amount of or delay the timing of any distributions (changes in Early Amortization Events that decrease the likelihood of the occurrence thereof shall not be considered delays in the timing of
distributions for purposes of this clause) to be made to Noteholders or deposits of amounts to be so distributed without the consent of each affected Noteholder, (ii) change the definition of or the manner of calculating the interest of any
Noteholder without the consent of each affected Noteholder or (iii) reduce the aforesaid percentage required to consent to any such amendment, in each case, without the consent of each Noteholder. 

(c)    Promptly after the execution of any such amendment or consent (other than an amendment pursuant to
paragraph (a)), the Issuer shall furnish notification of the substance of such amendment to the Indenture Trustee and each Noteholder, and the Servicer shall furnish notification of the substance of such amendment to each Rating Agency and
the Issuer. 
 (d)    It shall not be necessary for the consent of Noteholders (if required) under this
Section 10.01 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Noteholders shall be subject to such reasonable requirements as the Indenture Trustee may prescribe. 

(e)    The Required Noteholders may, on behalf of all Noteholders, waive any default by the Depositor,
the Issuer or the Servicer in the performance of their obligations hereunder and its consequences, except the failure to make any distributions required to be made to Noteholders or to make any required deposits of any amounts to be so distributed
(which such default may only be waived by 100% of the affected Noteholders). Upon any such waiver of a past default, such default shall cease to exist, and any default arising therefrom shall be deemed to have been remedied for every purpose of this
Agreement; provided that no such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 32 

 (f)    Any amendment hereunder which affects the
rights, duties, immunities or liabilities of the Owner Trustee or the Indenture Trustee shall require the Owner Trustee’s or the Indenture Trustee’s, as applicable, written consent. Each of the Owner Trustee and the Indenture Trustee may,
but shall not be obligated to, enter into any such amendment which affects the Owner Trustee’s or the Indenture Trustee’s rights, duties, benefits, protections, privileges or immunities under this Agreement or otherwise. In connection with
the execution of any amendment hereunder on behalf of the Issuer, each of the Owner Trustee and the Indenture Trustee shall be entitled to receive an Opinion of Counsel and an Officer’s Certificate to the effect that all conditions precedent
thereto have been satisfied and that such amendment is permitted under the terms of this Agreement. All reasonable fees, costs and expenses (including reasonable attorneys’ fees, costs and expenses) incurred in connection with any such
amendment will be payable by the Issuer in accordance with and subject to Section 8.06 of the Indenture. 

(g)    Notwithstanding anything in this Section 10.01 to the contrary, no
amendment may be made to this Agreement which would adversely affect in any material respect the rights or obligations of any Subservicer without the consent of such Subservicer. 

(h)    Notwithstanding anything in this Section 10.01 to the contrary, no
amendment may be made to this Agreement which would adversely affect in any material respect the rights or obligations of the Indenture Trustee without the consent of the Indenture Trustee. 

(i)    Except as contemplated in Sections 5.02, 6.02 and 6.05, no party may assign
any interest in this Agreement, except that (i) the Issuer may assign their interest in this Agreement to the Indenture Trustee under the Indenture and (ii) any party may assign its interest in this Agreement to any other Person if
(A) at least ten days prior to the assignment notice is given to each other party hereto, and (B) each other party gives its prior written consent to the assignment. 

Section 10.02    Protection of Right, Title and Interest of Issuer. (a) The Depositor
shall cause this Agreement, all amendments and supplements hereto and all financing statements and amendments thereto and continuation statements and any other necessary documents covering the Issuer’s right, title and interest to the Sold
Assets (and the Issuer hereby authorize the Depositor to make such filings on its behalf to the extent that the applicable UCC provides that the Issuer is the person authorized to make such filings) to be promptly recorded, registered and filed, and
at all times to be kept recorded, registered and filed, all in such manner and in such places as may be required by law fully to preserve and protect the right, title and interest of the Issuer hereunder to the Sold Assets. The Depositor shall
deliver to the Issuer and Indenture Trustee file-stamped copies of, or filing receipts for, any document recorded, registered or filed as provided above, as soon as available following such recording, registration or filing. The Depositor shall
cooperate fully with the Servicer in connection with the obligations set forth above and will execute any and all documents reasonably required to fulfill the intent of this paragraph. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 33 

 (b)    The Servicer shall cause the 2021-1A Security Agreement, all amendments and supplements hereto and all financing statements and amendments thereto and continuation statements and any other necessary documents covering the Related Collateral
(and the Issuer and the North Carolina Trust hereby authorize the Servicer to make such filings on its behalf to the extent that the applicable UCC provides that the Issuer and the North Carolina Trust are the persons authorized to make such
filings) to be promptly recorded, registered and filed, and at all times to be kept recorded, registered and filed, all in such manner and in such places as may be required by law fully to preserve and protect the right, title and interest of the
Indenture Trustee in the Related Collateral. The initial Servicer shall deliver to the Issuer and Indenture Trustee file-stamped copies of, or filing receipts for, any document recorded, registered or filed as provided above, as soon as available
following such recording, registration or filing. The Servicer shall cooperate fully with the Issuer, the North Carolina Trust and the Indenture Trustee in connection with the obligations set forth above and will execute any and all documents
reasonably required to fulfill the intent of this paragraph. 
 (c)    Within thirty (30) days
after the Depositor makes any change in its name, type or jurisdiction of organization, or organizational identification number, the Depositor shall give the Issuer and the Indenture Trustee notice of any such change and shall file such financing
statements or amendments as may be necessary to continue the perfection and priority of the Issuer’s security interest or ownership interest in the Loans and the other Sold Assets. 

Section 10.03    GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF
THE GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

EACH OF THE PARTIES HERETO HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK AND OF ANY NEW YORK STATE COURT SITTING IN THE COUNTY OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY OR THEREBY. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND
ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO BRING ANY ACTION OR PROCEEDING AGAINST ANY OTHER PARTY HERETO OR ANY OF THEIR
PROPERTY IN THE COURTS OF OTHER JURISDICTIONS. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 34 

 EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE, AMONG ANY OF THEM ARISING OUT OF, CONNECTED WITH, RELATING TO AND INCIDENT TO THE RELATIONSHIP BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT OR THE OTHER
TRANSACTION DOCUMENTS. 
 Section 10.04    Notices. All demands, notices, instructions,
directions and communications under this Agreement must be in writing and will be considered effective when delivered by hand, electronic communication (including e-mail) by courier, by overnight delivery
service, or by certified mail, return receipt requested and postage prepaid. 

(a)        in the case of the Depositor, to: 

979 Batesville Road, Suite B 

Greer, South Carolina 29651 

Attention: Harpreet Rana, Executive Vice President and 

            Chief Financial Officer 

Email: hrana@regionalmanagement.com 

(b)        in the case of the Servicer, to: 

979 Batesville Road, Suite B 

Greer, South Carolina 29651 

Attention: Harpreet Rana, Executive Vice President and 

Chief Financial Officer 
 Email:
hrana@regionalmanagement.com 
 (c)        in the case of the Issuer, to:

 979 Batesville Road, Suite B 

Greer, South Carolina 29651 

Attention: Harpreet Rana, Executive Vice President and 

Chief Financial Officer 
 Email:
hrana@regionalmanagement.com 
 (d)        in the case of the Owner Trustee,
to: 
 Wilmington Trust, National Association 

Rodney Square North 
 1100 North
Market Street 
 Wilmington, Delaware 19890 

Attention: Corporate Trust Administration – Regional Management 

Issuance Trust 2021-1 

(e)        in the case of the Indenture Trustee, to: 

Wells Fargo Bank, National Association 

Attention: Corporate Trust Services/Structured Products Services 

600 S 4th St. 
 MAC N9300-061 
 Minneapolis, MN 55415 

Telephone: (612) 667-7181 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 35 

 (f)        in the case of the Back-up Servicer, to: 
 Wells Fargo Bank, National Association 

Attention: Corporate Trust Services/Structured Products Services 

600 S 4th St. 
 MAC N9300-061 
 Minneapolis, MN 55415 

Telephone: (612) 667-7181 

(g)        in the case of notice to DBRS Morningstar, at the
following addresses: 
 DBRS, Inc. 

140 Broadway 
 New York, NY
10005 
 Attention: ABS Surveillance 

Email address: ABS_Surveillance@dbrs.com 

(h)        in the case of notice to S&P, to: 

S&P Global Ratings 
 55
Water Street 
 New York, NY 10041-0003 

(i)        in the case of notice to the North Carolina Trust,
to: 
 979 Batesville Road, Suite B 

Greer, South Carolina 29651 

Attention: Harpreet Rana, Executive Vice President and 

Chief Financial Officer 
 Email:
hrana@regionalmanagement.com 
 (j)        to any other Person as specified in
the Indenture. 
 Any of these entities may designate a different address in a notice to the others under this
Section 10.05. 
 Unless a party hereto otherwise prescribes with respect to itself, notices and
other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 36 

 Section 10.05    Severability. If any part
of this Agreement is held to be invalid or otherwise unenforceable, the rest of this Agreement will be considered severable and will continue in full force. 

Section 10.06    Further Assurances. Each party must take all actions that are reasonably
requested by any other party to effect more fully the purposes of this Agreement. The parties hereto agree to (a) provide access to the Contracts and related documentation in their possession for inspection by governmental regulatory agencies
and (b) assist in the preparation of any routine reports required by regulatory bodies, if any. 

Section 10.07    Nonpetition Covenant. (a) To the fullest extent permitted by law and
notwithstanding any prior termination of this Agreement, each of the Servicer, the Subservicers, the North Carolina Trust and the Issuer agree that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the Depositor
to file, commence, join, or acquiesce in a petition or proceeding, that causes (a) the Depositor to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the
Depositor or any substantial part of its property.  

(b)    To the fullest extent permitted by law and notwithstanding any prior termination of this
Agreement, each of the Servicer, the Subservicers, the Depositor and the North Carolina Trust agree that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the Issuer to file, commence, join, or acquiesce in a
petition or proceeding, that causes (a) the Issuer to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the Issuer or any substantial part of its property.

 (c)    To the fullest extent permitted by law and notwithstanding any prior termination of this
Agreement, each of the Servicer, the Subservicers, the Depositor and the Issuer agree that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the North Carolina Trust to file, commence, join, or acquiesce in a
petition or proceeding, that causes (a) the North Carolina Trust to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the North Carolina Trust or any
substantial part of its property. 
 (d)    The parties hereto agree that the provisions of this
Section 10.07 shall survive the resignation or removal of any such party from this Agreement and the termination of this Agreement. 

Section 10.08    No Waiver; Cumulative Remedies. No failure to exercise or delay in
exercising any right or remedy under this Agreement will effect a waiver of that right or remedy. No single or partial exercise of any right or remedy under this Agreement will preclude any other or further exercise of that right or remedy or any
other right or remedy. Except as otherwise expressly provided, the rights, remedies, powers and privileges provided under this Agreement are cumulative and not exhaustive. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 37 

 Section 10.09    Counterparts;
Execution. This Agreement may be executed in any number of counterparts, each of which will be considered an original, but all of which together will constitute one agreement. This Agreement shall be valid, binding, and enforceable against a
party only when executed by an authorized individual on behalf of the party by means of (i) an electronic signature that complies with the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform
Electronic Transactions Act, and/or any other relevant electronic signatures law including any relevant provisions of the UCC (collectively, “Signature Law”), in each case to the extent applicable; (ii) an original manual
signature; or (iii) a faxed, scanned, or photocopied manual signature. Each electronic signature or faxed, scanned, or photocopied manual signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an
original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no
duty to investigate, confirm or otherwise verify the validity or authenticity thereof. Notwithstanding the foregoing, with respect to any notice provided for in this Agreement or any instrument required or permitted to be delivered hereunder, any
party hereto receiving or relying upon such notice or instrument shall be entitled to request execution thereof by original manual signature as a condition to the effectiveness thereof. 

Section 10.10    Binding Effect; Third-Party Beneficiaries. This Agreement benefits and is
binding on the parties hereto, and their respective successor and permitted assigns. Each of the Back-up Servicer, the Indenture Trustee and the Owner Trustee are third-party beneficiaries to this Agreement
and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto. 

Section 10.11    Merger and Integration. Except as specifically stated otherwise herein, this
Agreement contains all of the terms and conditions relating to its subject matter to which the parties have agreed. All prior understandings of any kind are superseded by this Agreement. 

Section 10.12    Headings. The headings are for reference only and must not affect the
interpretation of this Agreement. 
 Section 10.13    Schedules and Exhibits. All schedules
and exhibits are fully incorporated into this Agreement. 
 Section 10.14    Survival of
Representations and Warranties. All representations, warranties, and covenants in this Agreement will survive the conveyance of the Purchased Assets to the Issuer and the grant of a security interest in the Purchased Assets to the Indenture
Trustee under the Indenture. 
 Section 10.15    Limited Recourse. (a) Notwithstanding
anything to the contrary contained herein, no recourse under or with respect to any obligation, covenant or agreement of the Depositor as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or
document to which the Depositor is a party shall be had against any incorporator, stockholder, affiliate, officer, employee or director of the Depositor by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any
statute or otherwise; it being expressly agreed and understood that the agreements of the Depositor contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each
case, solely corporate obligations of the Depositor. Notwithstanding any provisions contained in this Agreement to the contrary, the Depositor shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due
pursuant to this Agreement until payment in full of all amounts that the Depositor is obligated to pay for deposit into the Collection Account and the Principal Distribution Account pursuant to this Agreement; and all amounts that the Depositor is
obligated, in its capacity as depositor with respect to any Permitted Securitization, to pay for deposit into any collection account and any principal distribution account with respect to such Permitted Securitization pursuant to the sale and
servicing agreement for such Permitted Securitization; provided, however, that the Noteholders shall be entitled to the benefits of the subordination of the Collections allocable to the Trust Certificate to the extent provided in the Indenture. Any
amount which the Depositor does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the United States Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.), as amended from time
to time) against or obligation of the Depositor for any such insufficiency unless and until funds are available for the payment of such amounts as aforesaid. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 38 

 (b)    Notwithstanding anything to the contrary
contained herein, no recourse under or with respect to any obligation, covenant or agreement of the Issuer as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the Issuer is
a party shall be had against any incorporator, stockholder, affiliate, officer, employee or director of the Issuer by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being
expressly agreed and understood that the agreements of the Issuer contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each case, solely corporate obligations
of the Issuer. Notwithstanding any provisions contained in this Agreement to the contrary, the Issuer shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due pursuant to this Agreement other than in
accordance with the order of priorities set forth in Section 8.06 of the Indenture. Any amount which the Issuer does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the United
States Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.), as amended from time to time) against or obligation of the Issuer for any such insufficiency unless and until funds are available for the payment of such amounts as aforesaid. The
Issuer hereby acknowledges and agrees that it shall have no rights or recourse to (or claim against) the assets of any issuer or other issuing entity with respect to any Permitted Securitization (it being understood that this acknowledgement and
agreement shall not in any way limit the Issuer’s rights with respect to the Sold Assets). 

(c)    Notwithstanding anything to the contrary contained herein, no recourse under or with respect to
any obligation, covenant or agreement of the North Carolina Trust as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the North Carolina Trust is a party shall be had
against any incorporator, stockholder, affiliate, officer, employee or director of the North Carolina Trust by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly
agreed and understood that the agreements of the North Carolina Trust contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each case, solely corporate
obligations of the North Carolina Trust. Notwithstanding any provisions contained in this Agreement to the contrary, the North Carolina Trust shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due pursuant
to this Agreement. Any amount which the North Carolina Trust does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the United States Bankruptcy Reform Act of 1978 (11 U.S.C.
§101, et seq.), as amended from time to time) against or obligation of the North Carolina Trust for any such insufficiency unless and until funds are available for the payment of such amounts as aforesaid. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 39 

 (d)    The parties hereto agree that the provisions of
this Section 10.15 shall survive the resignation or removal of any such party to this Agreement and the termination of this Agreement. 

Section 10.16    Rights of the Indenture Trustee. The Indenture Trustee shall be entitled to
all of the same rights, protections, immunities and indemnities set forth in the Indenture, mutatis mutandis. 

Section 10.17    Series Liabilities. (a) The
2021-1A SUBI is a separate series of the North Carolina Trust as provided in Section 3806(b)(2) of the Delaware Statutory Trust Statute, (b)(i) claims incurred, contracted for or otherwise existing
with respect to the 2021-1A SUBI or the 2021-1A SUBI Assets, including claims hereunder, shall be enforceable against the 2021-1A
SUBI Assets only, and not against any UTI Assets or any SUBI assets other than the 2021-1A SUBI Assets (such other assets, “Other SUBI Assets”) and (ii) claims incurred, contracted for or
otherwise existing with respect to any other SUBI, the UTI or any other North Carolina Trust Assets shall be enforceable against the North Carolina Trust Assets with respect to such other SUBI or the UTI or such other North Carolina
Trust Assets only and not against 2021-1A SUBI Assets, (c) except to the extent required by law or specified in the North Carolina Trust Agreement, (i) North Carolina Trust Assets with
respect to any other SUBI or with respect to the UTI shall not be subject to claims arising from or with respect to the 2021-1A SUBI, (ii) no creditor or holder of a claim relating to the 2021-1A SUBI Assets shall be entitled to maintain any action against or recover any UTI Assets or any Other SUBI Assets, and (iii) no creditor or holder of a claim relating to any other SUBI, the UTI or any
other North Carolina Trust Assets shall be entitled to maintain any action against or recover any 2021-1A SUBI Assets, and (d) any purchaser, assignee or pledgee of an interest in the 2021-1A SUBI, the 2021-1A SUBI Certificate, any other SUBI, any other SUBI certificate, the UTI or the UTI Certificate must, prior to or contemporaneously with the grant of
any such assignment, pledge or security interest, (i) give to the North Carolina Trust a non-petition covenant substantially similar to that set forth in Section 6.9 of the North Carolina Trust
Agreement, and (ii) execute an agreement for the benefit of each holder, assignee or pledgee from time to time of the UTI or the UTI Certificate and any other SUBI or other SUBI certificate to release all claims to the UTI Assets and any Other
SUBI Assets and in the event that such release is not given effect, to fully subordinate all claims it may be deemed to have against the UTI Assets and any Other SUBI Assets. 

Section 10.18    Intention of the Parties. It is the intention of the parties hereto that
each transfer and conveyance contemplated by this Agreement shall constitute an absolute sale of the related Sold Assets from the Depositor to the Issuer and that the related Sold Assets shall not be part of the Depositor’s estate or otherwise
be considered property of the Depositor in the event of the bankruptcy, receivership, insolvency, liquidation, conservatorship or similar proceeding relating to the Depositor or any of each of its property. The intent expressed in the first sentence
of this paragraph should not be deemed to be an expression of the intended tax treatment of the conveyance of the Sold Assets. It is not intended that any amounts available for reimbursement of any Sold Assets be deemed to have been pledged by the
Depositor to the Issuer to secure a debt or other obligation of the Depositor. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 40 

 Section 10.19    Additional Subservicers.
The Depositor agrees that, subject to the satisfaction of the conditions set forth below, any Affiliate of Regional Management may be added as a party to this Agreement (an “Accession”) as a “Subservicer” (each such
Person, an “Additional Subservicer”), upon the Depositor’s receipt of a written request from Regional Management requesting that such Additional Subservicer be added to this Agreement as a Subservicer at least five
(5) days prior to the first acquisition of Eligible Loans to be serviced by such Additional Subservicer: 

(a)    the Depositor shall have delivered to the Indenture Trustee a fully executed copy of an Accession
Agreement substantially in the form of Exhibit D hereto with respect to such Additional Subservicer; 

(b)    notice of any Accession and the related Additional Subservicer shall have been provided to each
Rating Agency; 
 (c)    there shall have been delivered to the Indenture Trustee (on behalf of the
Noteholders) an Officer’s Certificate of Regional Management stating that such Accession is not reasonably expected to result in an Adverse Effect; and 

(d)    as of the effective date of such Accession, the conditions precedent applicable to such Additional
Subservicer as set forth in Exhibit E shall have been fulfilled. 
 Upon the effectiveness of any Accession, this
Agreement shall be deemed amended to include the proposed Additional Subservicer as a “Subservicer” hereunder. For the avoidance of doubt, any Person to which the Servicer (including any Successor Servicer) has delegated its duties
hereunder in accordance with Section 6.07 shall not be subject to an Accession or be required to become a party to this Agreement. 

Section 10.20    Limitation of Liability of WTNA.  

(a)    It is expressly understood and agreed by the parties hereto that (a) this Agreement is
executed and delivered by Wilmington Trust, National Association (“WTNA”), not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it,
(b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by WTNA but is made and intended for the purpose of binding
only the Issuer, (c) nothing herein contained shall be construed as creating any liability on WTNA, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly
waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) WTNA has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Agreement
and (e) under no circumstances shall WTNA be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by
the Issuer under this Agreement or any other related documents. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 41 

 (b)    It is expressly understood and agreed by the
parties hereto that (a) this Agreement is executed and delivered by WTNA, not individually or personally but solely as 2021-1A SUBI Trustee of the North Carolina Trust, in the exercise of the powers and
authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the North Carolina Trust is made and intended not as personal representations, undertakings and agreements by WTNA but
is made and intended for the purpose of binding only the North Carolina Trust, (c) nothing herein contained shall be construed as creating any liability on WTNA, individually or personally, to perform any covenant either expressed or implied
contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) WTNA has made no investigation as to the accuracy or completeness of any
representations and warranties made by the North Carolina Trust in this Agreement and (e) under no circumstances shall WTNA be personally liable for the payment of any indebtedness or expenses of the North Carolina Trust or be liable for the
breach or failure of any obligation, representation, warranty or covenant made or undertaken by the North Carolina Trust under this Agreement or any other related documents. 

Section 10.21    EU Risk Retention. None of Regional Management, the Issuer, the Initial
Purchasers or their respective Affiliates or any other person intends to retain a material net economic interest in the transaction in accordance with the EU Securitization Regulation or take any other action that may be required by EU Institutional
Investors for the purpose of their compliance with the EU Securitization Regulation. 
 [Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Page 42 

 IN WITNESS WHEREOF, the Depositor, the Servicer, the Subservicers, the
Issuer and the North Carolina Trust have caused this Sale and Servicing Agreement to be duly executed by their respective officers as of the date first above written. 

 

			
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
	
	By: /s/   Harpreet Rana                            
                
	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
	
	REGIONAL MANAGEMENT CORP., as Servicer
	
	By: /s/   Harpreet Rana                            
                
	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
	
	REGIONAL FINANCE CORPORATION OF ALABAMA, as Subservicer
	
	By: /s/   Harpreet Rana                            
                
	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
	
	REGIONAL FINANCE COMPANY OF GEORGIA, LLC, as Subservicer
	
	By: /s/   Harpreet Rana                            
                
	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL FINANCE COMPANY OF
	MISSOURI, LLC, as Subservicer
	
	By: /s/   Harpreet Rana                            
          
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer
	
	REGIONAL FINANCE COMPANY OF NEW
	MEXICO, LLC, as Subservicer
	
	By: /s/   Harpreet Rana                            
          
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer
	
	REGIONAL FINANCE CORPORATION OF
	NORTH CAROLINA, as Subservicer
	
	By: /s/   Harpreet Rana                            
          
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer
	
	REGIONAL FINANCE COMPANY OF
	OKLAHOMA, LLC, as Subservicer
	
	By: /s/   Harpreet Rana                            
          
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL FINANCE CORPORATION OF
	SOUTH CAROLINA, as Subservicer
	
	By: /s/   Harpreet Rana                            
        
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer
	
	REGIONAL FINANCE CORPORATION OF
	TENNESSEE, as Subservicer
	
	By: /s/   Harpreet Rana                            
            
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer
	
	REGIONAL FINANCE CORPORATION OF
	TEXAS, as Subservicer
	
	By: /s/   Harpreet Rana                            
        
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer
	
	REGIONAL FINANCE COMPANY OF
	VIRGINIA, LLC, as Subservicer
	
	By: /s/   Harpreet Rana                            
        
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL FINANCE CORPORATION OF
	WISCONSIN, as Subservicer
	
	By: /s/   Harpreet Rana                            
        
	Name:	 	 Harpreet Rana
	Title:	 	 Executive Vice President and Chief
		 	 Financial Officer

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL MANAGEMENT ISSUANCE
	TRUST 2021-1, as Issuer
		
	By:	 	WILMINGTON TRUST, NATIONAL
		 	ASSOCIATION, not in its individual
		 	 capacity, but solely as Owner Trustee of the

Issuer

	
	By: /s/  Rachel Simpson                             
             
	Name:	 	 Rachel L. Simpson
	Title:	 	 Vice President

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	 REGIONAL MANAGEMENT NORTH CAROLINA RECEIVABLES TRUST,

acting hereunder solely with respect to the 2021-1A SUBI

		
	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as 2021-1A SUBI Trustee of the North Carolina Trust
	
	By:  /s/  Rachel Simpson                           
         
	Name:	 	 Rachel L. Simpson
	Title:	 	 Vice President

  
 [Signature page to the
Sale and Servicing Agreement] 

 ACKNOWLEDGED AND AGREED TO AS TO SECTIONS 6.05, 8.01 AND 8.02 BY: 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual

capacity, but solely as Indenture Trustee

	
	By:  /s/  Marianna Stershic                           
                 
	Name:	 	 Marianna
Stershic                                        
        
	Title:	 	 Vice
President                                        
        

  
 [Signature page to the
Sale and Servicing Agreement] 

 Schedule I 

List of Subservicers 
 Regional Finance
Corporation of Alabama 
 Regional Finance Company of Georgia, LLC 

Regional Finance Company of Missouri, LLC 
 Regional Finance
Company of New Mexico, LLC 
 Regional Finance Corporation of North Carolina 

Regional Finance Company of Oklahoma, LLC 
 Regional Finance
Corporation of South Carolina 
 Regional Finance Corporation of Tennessee 

Regional Finance Corporation of Texas 
 Regional Finance Company
of Virginia, LLC 
 Regional Finance Corporation of Wisconsin 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule I 

 Schedule II 

Definitions Schedule and Rules of Construction 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II 

 PART A – Definitions Schedule 

“ABL Facility” shall mean the Seventh Amended and Restated Loan and Security Agreement, dated as of
September 20, 2019, among the lenders from time to time party thereto, Wells Fargo Bank, National Association, as agent, Regional Management and the other borrowers from time to time party thereto, as amended by the First Amendment to Seventh
Amended and Restated Loan and Security Agreement dated October 15, 2020. 
 “Accession” shall have
the meaning specified in Section 10.19 of this Agreement. 
 “Accession Agreement” shall mean an
accession agreement substantially in the form of Exhibit D of the Sale and Servicing Agreement. 
 “Account
Bank” shall have the meaning specified in Section 8.02(f) of the Indenture. 
 “Act” or
“Act of Noteholder” shall have the meaning specified in Section 11.03(a) of the Indenture. 

“Addition Date” shall mean, with respect to any Additional Loan, the effective date of the conveyance or
allocation of such Additional Loan, as specified in the applicable Additional Loan Assignment, which date shall be a Loan Action Date. 

“Additional Cut-Off Date” shall mean (a) with respect to the
Loan Purchase Agreement and each Additional Loan, the Cut-Off Date specified in the related Additional Loan Assignment, (b) with respect to the Sale and Servicing Agreement and each Additional Loan, the Cut-Off Date specified in the related Additional Loan Assignment, (c) with respect to the 2021-1A SUBI Supplement and each Additional Loan, the Cut-Off Date specified in the related Additional Loan Assignment, (d) with respect to the Purchase Agreement and each Additional Loan transferred pursuant thereto, the
Cut-Off Date specified in the related Additional Loan Assignment, (e) with respect to the Omnibus Distribution and Assignment Agreement and each Additional Loan transferred pursuant thereto, the Cut-Off Date specified in the related Additional Loan Assignment, and (f) with respect to any Other Warehouse Purchase Agreement and each Additional Loan transferred pursuant thereto, the Cut-Off Date specified in the related Additional Loan Assignment (for the avoidance of doubt, with respect to an Additional Loan, the Cut-Off Date for such Additional Loan
pursuant to (a), (b), (c), (d), (e) or (f), as applicable, shall be the same date). 
 “Additional Loan”
shall mean (a) with respect to the Loan Purchase Agreement, each additional non-revolving personal loan that is sold to the Depositor pursuant to the Loan Purchase Agreement on an Addition Date, which,
for the avoidance of doubt, may include Loans acquired by the Seller from Regional Originators, (b) with respect to the Sale and Servicing Agreement, each additional non-revolving personal loan that is
acquired by the Issuer pursuant to the Sale and Servicing Agreement on an Addition Date, (c) with respect to the 2021-1A SUBI Supplement, each additional
non-revolving personal loan that is allocated to the 2021-1A SUBI by the Servicer pursuant to the 2021-1A SUBI Supplement on an
Addition Date, (d) with respect to the Purchase Agreement, each additional non-revolving personal loan that is sold to the Seller pursuant to the Purchase Agreement on each Addition Date, (e) with
respect to the Omnibus Distribution and Assignment Agreement, each additional non-revolving personal loan that is transferred to the Seller pursuant to the Omnibus Distribution and Assignment Agreement on each
Addition Date, and (f) with respect to any Other Warehouse Purchase Agreement, each additional non-revolving personal loan that is sold to the Seller pursuant to such Other Warehouse Purchase Agreement on
each Addition Date, which for the avoidance of doubt in each case shall include Branch Loans and Convenience Checks. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 1 

 “Additional Loan Assignment” shall mean (a) with
respect to the Loan Purchase Agreement, a written assignment substantially in the applicable form attached to the Loan Purchase Agreement pursuant to which the Seller designates and assigns Additional Loans to the Depositor, (b) with respect to
the Sale and Servicing Agreement, a written assignment substantially in the applicable form attached to the Sale and Servicing Agreement pursuant to which the Depositor designates and further assigns Additional Loans to the Issuer, (c) with
respect to the 2021-1A SUBI Supplement, a written allocation notice substantially in the applicable form attached to the 2021-1A SUBI Supplement pursuant to which the
Servicer in accordance with the 2021-1A SUBI Supplement designates and further allocates Additional Loans that are North Carolina Loans to the 2021-1A SUBI,
(d) with respect to the Purchase Agreement, a written assignment substantially in the applicable form attached to the Purchase Agreement pursuant to which the Warehouse Borrower designates and assigns Additional Loans to the Seller,
(e) with respect to the Omnibus Distribution and Assignment Agreement, a written assignment substantially in the applicable form attached to the Omnibus Distribution and Assignment Agreement pursuant to which one or more Regional Originators
designate and assign Additional Loans to the Seller, and (f) with respect to any Other Warehouse Purchase Agreement, a written assignment substantially in the applicable form attached to such Other Warehouse Purchase Agreement pursuant to which
the applicable warehouse borrowers designate and assign Additional Loans to the Seller. 
 “Additional Loan
Assignment Schedule” shall mean (a) with respect to the Purchase Agreement and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to the Purchase Agreement on
such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule, (b) with respect to a purchase agreement between the borrower under a warehouse facility other than the Warehouse Facility and
the Seller and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to such purchase agreement on such Loan Action Date and the related information with respect thereto required
to be included in the Loan Schedule, (c) with respect to the Loan Purchase Agreement and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to the Loan Purchase Agreement
on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule, (d) with respect to the Sale and Servicing Agreement and any Loan Action Date, the schedule to the related Additional Loan
Assignment, listing the related Additional Loans conveyed pursuant to the Sale and Servicing Agreement on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule and (e) with respect
to the 2021-1A SUBI Supplement on any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the related Additional Loans allocated pursuant to the
2021-1A SUBI Supplement on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 2 

 “Additional Subservicer” shall have the meaning specified
in Section 10.19 of this Agreement. 
 “Adjusted Loan Principal Balance” shall mean, with respect to
any Collection Period, an amount equal to the Loan Principal Balance of all Loans in the Trust Estate, other than Charged-Off Loans and Excluded Loans, in each case, as of the close of business on the last day
of such Collection Period. 
 “Administration Agreement” shall mean the Administration Agreement, dated as
of the Closing Date, among the Issuer, the North Carolina Trust, the Administrator and the Depositor. 

“Administrator” shall mean the Person acting in such capacity from time to time pursuant to and in
accordance with the Administration Agreement, which shall initially be Regional Management. 
 “Adverse
Effect” shall mean, with respect to any action, that such action will (a) result in the occurrence of an Early Amortization Event or an Event of Default or (b) materially and adversely affect the Noteholders. 

“Affiliate” of any specified Person shall mean any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any specified Person, shall mean the power to direct the management and policies
of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Aggregate Note Balance” shall mean, as of any date of determination, the sum of the aggregate Class A
Note Balance, the aggregate Class B Note Balance, the aggregate Class C Note Balance and the aggregate Class D Note Balance, in each case, as of such date of determination. 

“Amount Financed” shall mean, with respect to a Loan, the “amount financed” (as defined in the
Federal Truth-in-Lending Act (15 U.S.C. § 1601 et. seq) and its implementing regulations) and as set forth in the Federal Truth in Lending disclosure in the
related Contract. 
 “Annual Percentage Rate” or “APR” shall mean, with respect to a
personal loan in Regional’s managed portfolio, the “annual percentage rate” (as defined in the Federal Truth-in-Lending Act (15 U.S.C. § 1601 et. seq) and its implementing
regulations) and as set forth in the Federal Truth in Lending disclosure in the related loan contract. If, after the Closing Date, the rate per annum with respect to a Loan as of the related Cut-Off Date
is reduced (i) as a result of an insolvency proceeding involving the related Loan Obligor or (ii) pursuant to the Servicemembers Civil Relief Act or similar State law, “Annual Percentage Rate” or “APR” shall refer to
such reduced rate. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 3 

 “Applicable Law” shall mean, with respect to any Person,
all existing and future applicable laws, rules, regulations (including proposed, temporary and final income tax regulations), statutes, treaties, codes, ordinances, permits, certificates, orders and licenses of and interpretations by any
Governmental Authority (including, but not limited to, the federal Dodd-Frank Act; the Truth in Lending Act and its implementing regulation, Regulation Z, as these appeared under the Federal Reserve Board and, currently, under the CFPB; the Equal
Credit Opportunity Act and its implementing regulation, Regulation B, as these appeared under the Federal Reserve Board and, currently, under the CFPB; the Exchange Act; the Fair Credit Reporting Act, including Regulation V; the Fair Credit Billing
Act; the Fair Debt Collection Practices Act; the Federal Trade Commission Act; the Relief Act; state adoptions of the foregoing federal laws; state usury laws; and state-specific adoptions of the National Consumer Act and the Uniform Consumer Credit
Code), and applicable judgments, decrees, injunctions, writs, orders or line actions of any court, arbitrator or other administrative, judicial or quasi-judicial tribunal or agency of competent jurisdiction. 

“Applicable Representations” shall have the meaning specified in Section 3.03 of this Agreement. 

“Applicable SUBI Fee Letter” means that Schedule of Fees to Serve as Owner Trustee for Regional Management
Issuance Trust 2021-1, dated as of January 7, 2021. 
 “Assignment
Agreement” shall mean (a) an agreement substantially in the form of Exhibit A to the Purchase Agreement relating to the Loans and other Purchased Assets purchased by the Seller on the Closing Date, (b) an agreement substantially
in the form of Exhibit A to the Loan Purchase Agreement relating to the Loans and other Purchased Assets purchased by the Depositor on the Closing Date and (c) with respect to the 2021-1A SUBI Supplement,
a written allocation notice substantially in the applicable form attached to the 2021-1A SUBI Supplement pursuant to which the Servicer in accordance with the 2021-1A
SUBI Supplement designates and further allocates Additional Loans that are North Carolina Loans to the 2021-1A SUBI. 

“Authoritative Copy” means, with respect to any Contract that constitutes Electronic Chattel Paper, the
authoritative copy thereof, as such term is used in Section 9-105 of the UCC. 

“Authorized Officer” shall mean: 

(a)    with respect to the Issuer, (i) any officer of the Owner Trustee who is authorized to act for
the Owner Trustee in matters relating to the Issuer and who is identified on the list of Authorized Officers, containing the specimen signature of each such Person, delivered by the Owner Trustee to the Indenture Trustee on the Closing Date (as such
list may be modified or supplemented from time to time thereafter), (ii) any officer of the Administrator who is authorized to act for the Administrator in matters relating to the Issuer and who is identified on the list of Authorized Officers
(containing the specimen signatures of such officers) delivered by the Administrator to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter) and (iii) any officer of the Depositor
who is authorized to act for the Depositor in matters relating to the Issuer and who is identified on the list of Authorized Officers, containing the specimen signature of each such Person, delivered by the Depositor to the Indenture Trustee on the
Closing Date (as such list may be modified or supplemented from time to time thereafter); 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 4 

 (b)    with respect to the Depositor, any officer of
the Depositor who is identified on the list of Authorized Officers (containing the specimen signature of each such Person) delivered by the Depositor to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from
time to time thereafter); 
 (c)    with respect to the Servicer, any President, Vice President,
Treasurer, Secretary or Assistant Secretary of the Servicer or any other officer who is authorized to act for the Servicer; 

(d)    Secretary or Assistant Secretary of the Seller or any other officer who is authorized to act for
the Seller; and 
 (e)    with respect to the Indenture Trustee, any Responsible Officer. 

“Available Funds” for any Payment Date shall mean, without duplication, (a) the Collections received in
the Collection Account during the Collection Period, including any investment earnings in each of the Note Accounts, relating to such Payment Date (other than amounts permitted to be retained by the Servicer in respect of Servicing Fees), (b) all
amounts on deposit in the Reserve Account as of the related Monthly Determination Date, and (c) during the Revolving Period, all amounts on deposit in the Principal Distribution Account as of the commencement of such Payment Date. 

“Back-up Servicer” shall mean, initially, Wells Fargo Bank, National
Association, and at any other time, the Person then acting as “Back-up Servicer” pursuant to and in accordance with the Back-up Servicing Agreement. 

“Back-up Servicer Termination Event” shall mean any Back-up Servicer Termination Event specified in Section 4.3 of the Back-up Servicing Agreement. 

“Back-up Servicing Agreement” shall mean the Back-up Servicing Agreement, dated as of the Closing Date, among the Issuer, the Depositor, the Indenture Trustee, the Servicer, the Back-up Servicer, the Image File
Custodian, and the North Carolina Trust pursuant to which the Back-up Servicer has agreed to perform the back-up servicing duties specified therein for the benefit of
the Issuer and the Noteholders, including with respect to the 2021-1A SUBI Assets. 

“Back-up Servicing Fee” shall mean, with respect to (i) any
Payment Date other than the Initial Payment Date, an amount equal to the greater of (a) $8,000 and (b) the product of (1) 0.06% multiplied by (2) the aggregate Loan Principal Balance as of the first day of the related Collection Period,
multiplied by (3) one-twelfth, or (ii) the Initial Payment Date, an amount equal to the product of (x) 0.06%, multiplied by (y) the aggregate Loan Principal Balance as of the Closing Date,
multiplied by (z) a fraction, the numerator of which is the number of days from the Closing Date through the end of the initial Collection Period, and the denominator of which is 360. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 5 

 “Bankruptcy Code” shall mean Title 11 of the United States
Code, 11 U.S.C. §§ 101 et seq., as amended. 
 “Bankruptcy Loan” shall mean, to the extent
reflected on the servicing systems of the Servicer, any Loan (a) with respect to which all or any portion of the Loan Principal Balance thereof has been discharged and has not been reaffirmed by the related Loan Obligor, or (b) the Loan
Obligor of which has filed, or there has been filed against such Loan Obligor, voluntary or involuntary proceedings under the Bankruptcy Code or any other Debtor Relief Laws and such Loan has not been reaffirmed by the Loan Obligor in that
proceeding. 
 “Beneficial Interests” shall mean the beneficial interests in the Trust evidenced by the
Trust Certificate. 
 “Beneficial Owner” shall mean, with respect to any Book-Entry Note, the Person who
is the beneficial owner of such Note as reflected on the books of DTC or on the books of a Person maintaining an account with DTC (directly as a Participant or indirectly through a Participant, in accordance with the rules of DTC). 

“Beneficiary” shall mean the registered holder of a Trust Certificate as reflected in the register
maintained pursuant to Section 10.01(d) of the Trust Agreement. Initially, the Depositor is the sole Beneficiary. 

“Book-Entry Notes” shall mean security entitlements to the Notes, ownership and transfers of which shall be
made through book entries by a Clearing Agency, as described in Section 2.04 of the Indenture. 
 “Branch
Assisted Electronic Loan” shall mean a Loan entered into by an applicant who is a current or former Regional borrower, with respect to which the loan documentation is signed using DocuSign, Inc. technology. 

“Branch Loan” shall mean a Small Branch Loan or a Large Branch Loan. 

“Business Day” shall mean any day other than (a) a Saturday or Sunday or (b) any other day on
which banking institutions in New York, New York, Minneapolis, Minnesota, Greer, South Carolina and Wilmington, Delaware or any other city in which the Corporate Trust Office of the Indenture Trustee or the Owner Trustee or the principal executive
offices of the Servicer or the Depositor, as the case may be, are located, are authorized or obligated by law, executive order or governmental decree to be closed or on which the fixed income markets in New York, New York are closed. 

“Certificate of Trust” shall mean the certificate of trust of the Trust, filed on January 8, 2020, with
the Office of the Secretary of State of the State of Delaware pursuant to the Delaware Statutory Trust Statute, as amended by the certificate of amendment filed on September 28, 2020. 

“CFPB” shall mean the U.S. Consumer Financial Protection Bureau established by the Dodd-Frank Act within the
Federal Reserve System. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 6 

 “Charged-Off Loan”
shall mean any Loan (i) with respect to which a scheduled payment thereon remains unpaid for 180 days or more after the related due date for such payment (or such longer period as permitted in accordance with the Credit and Collection Policy),
or (ii) which has been charged off in full or in part by the Servicer (as reflected in the records of the Servicer), in each case in accordance with the Credit and Collection Policy. The Loan Principal Balance of any Loan that becomes a “Charged-Off Loan” will be deemed to be zero as of the date it becomes a “Charged-Off Loan.” 

“Class” shall mean the Class A Notes, the Class B Notes, the Class C Notes or the
Class D Notes, as the context may require. 
 “Class A Interest Rate” shall mean
1.68% per annum. 
 “Class A Monthly Interest Amount” shall mean, for any Payment Date,
the amount of interest accrued during the related Interest Period at the Class A Interest Rate on the Class A Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the basis of a 360-day year consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but excluding) the Initial
Payment Date). 
 “Class A Note” shall mean any one of the 1.68% Class A Notes
executed by the Owner Trustee on behalf of the Issuer and authenticated by the Indenture Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 

“Class A Note Balance” shall initially mean $203,130,000, and thereafter shall equal the
initial Class A Note Balance reduced by all previous payments to the Class A Noteholders in respect of the principal of the Class A Notes that have not been rescinded. 

“Class B Interest Rate” shall mean 2.42% per annum. 

“Class B Monthly Interest Amount” shall mean, for any Payment Date, the amount of
interest accrued during the related Interest Period at the Class B Interest Rate on the Class B Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the basis of a
360-day year consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but excluding) the
Initial Payment Date). 
 “Class B Note” shall mean any one of the 2.42% Class B
Notes executed by the Owner Trustee on behalf of the Issuer and authenticated by the Indenture Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 

“Class B Note Balance” shall initially mean $7,160,000, and thereafter shall equal the
initial Class B Note Balance reduced by all previous payments to the Class B Noteholders in respect of the principal of the Class B Notes that have not been rescinded. 

“Class C Interest Rate” shall mean 3.04% per annum. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 7 

 “Class C Monthly Interest Amount” shall
mean, for any Payment Date, the amount of interest accrued during the related Interest Period at the Class C Interest Rate on the Class C Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the
basis of a 360-day year consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but
excluding) the Initial Payment Date). 
 “Class C Note” shall mean any one of the 3.04%
Class C Notes executed by the Owner Trustee on behalf of the Issuer and authenticated by the Indenture Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 

“Class C Note Balance” shall initially mean $17,320,000, and thereafter shall equal the
initial Class C Note Balance reduced by all previous payments to the Class C Noteholders in respect of the principal of the Class C Notes that have not been rescinded. 

“Class D Interest Rate” shall mean 5.07% per annum. 

“Class D Monthly Interest Amount” shall mean, for any Payment Date, the amount of
interest accrued during the related Interest Period at the Class D Interest Rate on the Class D Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the basis of a
360-day year consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but excluding) the
Initial Payment Date). 
 “Class D Note” shall mean any one of the 5.07% Class D
Notes executed by the Owner Trustee on behalf of the Issuer and authenticated by the Indenture Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 

“Class D Note Balance” shall initially mean $21,090,000, and thereafter shall equal the
initial Class D Note Balance reduced by all previous payments to the Class D Noteholders in respect of the principal of the Class D Notes that have not been rescinded. 

“Clearing Agency” shall mean an organization registered as a “clearing agency” pursuant to
Section 17A of the Exchange Act and serving as a clearing agency for a Series or Class of Book-Entry Notes. 

“Clearstream” shall mean Clearstream Banking, société anonyme, a professional
depository incorporated under the laws of Luxembourg, and its successors. 
 “Closing Date” shall mean
February 18, 2021. 
 “Collection Account” shall have the meaning specified in
Section 8.02(a)(i) of the Indenture. 
 “Collection Period” shall mean, with respect to each Payment
Date, the immediately preceding calendar month; provided, however, that the initial Collection Period will commence on the day immediately following the Initial Cut-Off Date and end on (and
include) the last day of the calendar month immediately preceding the Initial Payment Date. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 8 

 “Collections” shall mean all amounts collected on or in
respect of the Loans after the applicable Cut-Off Date, including scheduled loan payments (whether received in whole or in part, whether related to a current, future or prior due date, whether paid voluntarily
by a Loan Obligor or received in connection with the realization of the amounts due and to become due under any defaulted Loan or upon the sale of any property acquired in respect thereof), all partial prepayments, all full prepayments, recoveries,
insurance proceeds or any other form of payment. 
 “Contract” shall mean, with respect to any Loan, the
fully executed original (or, in the case of a Convenience Check, a copy), electronically authenticated original or authoritative copy (in each case, within the meaning of the UCC) of any non-revolving
promissory note and security agreement or other form of personal loan contract entered into by a Loan Obligor under which an extension of credit by a Regional Originator was made in the ordinary course of business of such Regional Originator, which
contract contains the terms and conditions applicable to such Loan and any applicable Truth in Lending disclosure related thereto, in each case, as amended and in effect from time to time, including any related written allonges or extensions
thereto. 
 “Convenience Checks” shall mean personal loans originated through Regional’s convenience
check direct mail campaigns. 
 “Conveyance Papers” shall have the meaning specified in Schedule IV to
this Agreement. 
 “Corporate Trust Office” shall have the meaning (a) when used in respect of the
Owner Trustee, the address of the Owner Trustee at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, Attn: Corporate Trust Administration, and (b) when used in respect of the Indenture Trustee, the Image File Custodian
or the Back-up Servicer, the address of the Indenture Trustee at Wells Fargo Center, 600 S. 4th Street, Minneapolis, Minnesota 55415, Attn: Asset-Backed
Securities Department. 
 “Credit and Collection Policy” shall mean the credit and collection policies and
practices and procedures maintained by the Servicer relating to the Loans, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the Sale and Servicing Agreement. If there is a Successor Servicer,
“Credit and Collection Policy” shall mean the customary and usual servicing, administration and collection practices and procedures used by servicing companies of comparable experience to the Successor Servicer for servicing personal loans
comparable to the Loans which the Successor Servicer services for its own account, as the same may be amended, supplemented or otherwise modified from time to time. 

“Custodian” shall mean the Servicer, in its capacity as custodian of the Contracts under the Sale and
Servicing Agreement. 
 “Cut-Off Date” shall mean the Initial Cut-Off Date or any Additional Cut-Off Date, as applicable. 

“DBRS Morningstar” shall mean DBRS, Inc., or any successor. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 9 

 “Debtor Relief Laws” shall mean (i) the Bankruptcy
Code and (ii) all other applicable liquidation, conservatorship, bankruptcy, moratorium, arrangement, receivership, insolvency, reorganization, suspension of payments, adjustment of debt, marshalling of assets or similar debtor relief laws of
the United States, any state or any foreign country from time to time in effect affecting the rights of creditors generally. 

“Definitive Notes” shall mean, for any Class, the Notes issued in fully registered, certificated form issued
to the owners of such Class or their nominee. 
 “Delaware Secretary of State” shall mean the Office
of the Secretary of State of the State of Delaware. 
 “Delaware Statutory Trust Statute” shall mean
Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq., as amended from time to time. 

“Delinquent Loan” shall mean a Loan, other than a Charged-Off Loan,
with respect to which a scheduled monthly payment thereon remains unpaid for 60 days or more from the related due date in accordance with the Credit and Collection Policy as reflected in the records of the Servicer or the applicable Subservicer.

 “Delinquent Renewal” shall mean, with respect to any Loan in the Trust Estate, a transaction in which a
new non-revolving personal loan originated pursuant to a Contract is entered into between a Regional Originator and a Loan Obligor, which new non-revolving personal loan
(x) is originated in accordance with Regional’s delinquent renewal underwriting criteria as set forth in its Credit and Collection Policy, (y) refinances such Loan in full or in part, and (z) may also extend additional financing
to such Loan Obligor. 
 “Delinquent Renewal Loan” shall mean the new
non-revolving personal loan entered into between the applicable Regional Originator and the Loan Obligor pursuant to any Delinquent Renewal. 

“Deliveries” shall have the meaning specified in Section 12.02 of the Trust Agreement. 

“Demand” shall have the meaning specified in Section 6.14(a) of the Indenture. 

“Depositor” shall mean Regional Management Receivables III, LLC, a limited liability company formed and
existing under the laws of the State of Delaware, and its permitted successors and assigns. 
 “Depositor LLC
Agreement” shall mean the Amended and Restated Limited Liability Company Agreement of the Depositor, dated as of June 27, 2018. 

“Direct Depositor Breach” shall have the meaning specified in Section 2.06(a) of this Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 10 

 “Directing Holder” shall mean (a) so long as the
Indenture shall not have terminated, the Required Noteholders, and (b) in all other instances, the holder or holders of more than 50% of the voting power of the Beneficial Interests. 

“Disqualification Event” with respect to the Owner Trustee shall mean (a) the bankruptcy, insolvency or
dissolution of the Owner Trustee, (b) the occurrence of the date of resignation of the Owner Trustee, as set forth in a notice of resignation given pursuant to Section 8.01 of the Trust Agreement, (c) the delivery to the Owner Trustee
of the instrument or instruments of removal referred to in Section 8.01 of the Trust Agreement (or, if such instruments specify a later effective date of removal, the occurrence of such later date), or (d) the failure of the Owner Trustee
to qualify under the requirements of Section 8.03 of the Trust Agreement. 
 “Distribution Compliance
Period” shall have the meaning specified in Section 2.05(b) of the Indenture. 
 “Dodd-Frank
Act” shall mean the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed into law on July 21, 2010. 

“Dollars,” “$” or “U.S. $” shall mean (a) U.S. dollars or
(b) denominated in U.S. dollars. 
 “DTC” shall mean The Depository Trust Company, a New York
corporation. 
 “Early Amortization Event” shall mean any Early Amortization Event specified in
Section 5.01 of the Indenture. 
 “Electronic Chattel Paper” shall have the meaning specified in
Article 9 of the UCC. 
 “Electronic Collateral Control Agreement” shall mean that certain Electronic
Collateral Control Agreement, dated as of February 18, 2021, by and among the Indenture Trustee, the Issuer, Regional Management, the North Carolina Trust and eOriginal, Inc., as the same may be amended, restated, supplemented or otherwise
modified from time to time. 
 “Electronic Contract” shall mean a Contract that was electronically
executed and authenticated; provided, that an Electronic Contract that has been Exported shall not constitute an Electronic Contract. 

“Electronic Vault” shall mean the electronic vault wherein custody of Electronic Contracts shall be
maintained in electronic form by the Servicer (in its capacity as custodian under the Transaction Documents) (or any successor servicer), in each case, through a third-party Electronic Vault Provider that enables electronic contracting pursuant to
the related electronic vault services agreement. 
 “Electronic Vault Provider” shall mean eOriginal,
Inc., a Delaware corporation, and any successor or replacement third-party provider of the technology platform on which the Electronic Vault operates acting in such capacity with the consent of the Indenture Trustee (with the written consent of the
Required Noteholders). 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 11 

 “Electronic Vault Services Agreement” shall mean any
agreement between Regional Management and the Electronic Vault Provider that provides for services related to the Electronic Vault. 

“Electronic Vault System” shall mean the electronic vault system provided by the Electronic Vault Provider
pursuant to the Electronic Vault Services Agreement or such other electronic system provider as may be mutually agreed upon by the Issuer, Regional Management and the Indenture Trustee (with the written consent of the Required Noteholders) that
enables electronic contracting. 
 “Eligible Deposit Account” shall mean either (a) a segregated
account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States or any one of the states thereof, including the District of
Columbia (or any domestic branch of a foreign bank), and acting as a trustee for funds deposited in such account, so long as either (x) (A) such depository institution has a long-term issuer credit rating of
“A-” or higher from S&P and a long-term issuer credit rating of “Baa1” or higher from Moody’s and (B) any of the unsecured, unguaranteed senior debt securities of such
depository institution shall have a credit rating from Moody’s in one of its generic credit rating categories that signifies “Baa2” or higher, or (y) each Rating Agency approves such segregated trust account in writing. 

“Eligible Institution” shall mean a depository institution organized under the laws of the United States of
America or any one of the states thereof, including the District of Columbia (or any domestic branch of a foreign bank), which at all times has (a)(i) a long-term unsecured debt rating of “Baa1” or better by Moody’s and (ii) a
certificate of deposit rating of “P-2” or better by Moody’s and (b)(i) a long-term issuer credit rating of “A-” or better by S&P and a
long-term issuer credit rating of “Baa1” or better by Moody’s or (ii) a short-term issuer credit rating of “A-1” or better by S&P and a short-term issuer credit rating of “P-1” or better by Moody’s. If so qualified, any of the Indenture Trustee or the Administrator may be considered an Eligible Institution for the purposes of this definition. 

“Eligible Investments” shall mean book-entry securities, negotiable instruments or securities represented by
instruments in bearer or registered form which have maturities of no later than the Business Day immediately prior to the next succeeding Payment Date (unless payable on demand, in which case such securities or instruments may mature on such next
succeeding Payment Date) and which evidence: 
 (a)    direct obligations of, and
obligations fully guaranteed as to timely payment by, the United States of America; 

(b)    demand deposits, time deposits or certificates of deposit (having original
maturities of no more than 365 days) of depository institutions or trust companies incorporated under the laws of the United States of America or any state thereof (or domestic branches of foreign banks) and subject to supervision and examination by
federal or state banking or depository institution authorities; provided that at the time of the Issuer’s investment or contractual commitment to invest therein, the short-term debt rating of such depository institution or trust company will be
rated “R-1(high)” or higher by DBRS Morningstar and “A” or “A-1” by S&P; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 12 

 (c)    commercial paper (having
remaining maturities of no more than 30 days) having, at the time of the Issuer’s investment or contractual commitment to invest therein, a rating of “R-1(high)” or higher from DBRS Morningstar
and a rating of “A-2” or higher from S&P; 

(d)    investments in money market funds rated “AAAm” or higher by S&P and
an equivalent rating by DBRS Morningstar or otherwise approved in writing by DBRS Morningstar, if rated by DBRS Morningstar; 

(e)    demand deposits, time deposits and certificates of deposit (having original
maturities of no more than 365 days) which are fully insured by the Federal Deposit Insurance Corporation, having at the time of the Issuer’s investment or contractual commitment to invest therein, a rating of
“A-1+” by S&P and an equivalent rating by DBRS Morningstar; 

(f)    notes or bankers’ acceptances (having original maturities of no more than 365
days) issued by any depository institution or trust company referred to in (b) above; 

(g)    time deposits, other than as referred to in clause (e) above (having original
maturities of no more than 365 days), with a Person (i) the commercial paper of which is rated “A-1+” by S&P and an equivalent rating by DBRS Morningstar or (ii) that has a long-term
unsecured debt rating of “A+” or higher by S&P and an equivalent rating by DBRS Morningstar; or 

(h)    any other investments approved in writing by DBRS Morningstar and by S&P. 

Eligible Investments may be purchased by or through the Indenture Trustee or any of its Affiliates and may include proprietary funds offered
or managed by Wells Fargo or an Affiliate thereof. 
 “Eligible Loan” shall mean a Loan that, as of
the applicable Cut-Off Date: (i) is not categorized as a Bankruptcy Loan, (ii) is either an interest-bearing loan or a Precompute Loan, (iii) has a fixed-rate of interest, (iv) is
denominated in U.S. dollars, (v) the maturity date therefor had not occurred, (vi) is not a Delinquent Loan or a Charged-Off Loan, (vii) is not a Revolving Loan, (viii) if the related
Contract is not an Electronic Contract, it is a Branch Loan or a Convenience Check, (ix) if the related Contract is an Electronic Contract, it is a Branch Assisted Electronic Loan, (x) was originated in all material respects in accordance
with the Credit and Collection Policy in effect as of the date of origination of such Loan, (xi) has an origination term of not more than 72 months, (xii) in connection with the origination thereof, a Contract was created, (xiii) is
not secured by real property, (xiv) has an Amount Financed that is greater than $500 and less than $25,000, (xv) the collateral that secures such Loan had not been, and was not in the process of being, repossessed, (xvi) is not an
Extension Loan, (xvii) is not a Modified Contract, (xviii) has an original and current APR equal to or greater than 5.00% and equal to or less than 36.00%, (xix) is not subject to litigation or legal proceedings, (xx) the Loan Obligor
of which had a FICO® score at the time of origination and such FICO® score was at least 525 (or, in the case of a Loan with two Loan Obligors, based on the higher of the two FICO® scores at origination), and (xxi) is not a
Delinquent Renewal Loan for which no payment has been made since the related Delinquent Renewal. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 13 

 “Eligible Servicer” shall mean the Indenture Trustee,
Regional Management, the Back-up Servicer or an entity which, at the time of its appointment as Servicer, (a)(i) is the surviving Person of a merger or consolidation with, or the transferee of all or
substantially all of the assets of, Regional Management in a transaction otherwise complying with the relevant terms of the Sale and Servicing Agreement, (ii) is servicing a portfolio of personal loans, (iii) is legally qualified and has
the capacity (in each case, either directly or through one or more subservicers) to service and administer the Loans in accordance with the Sale and Servicing Agreement and the 2021-1A SUBI Servicing Agreement
and (iv) is qualified to use the software that is then being used to service the Loans or obtains the right to use or has its own software which is adequate to perform its duties under the Sale and Servicing Agreement the 2021-1A SUBI Servicing Agreement or (b)(i) is servicing a portfolio of personal loans, (ii) is legally qualified and has the capacity (in each case, either directly or through one or more subservicers) to
service and administer Loans in accordance with the Sale and Servicing Agreement and the 2021-1A SUBI Servicing Agreement, (iii) has demonstrated the ability to service professionally and competently a
portfolio of loans which are similar to the Loans in accordance with high standards of skill and care and (iv) is qualified to use the software that is then being used to service the Loans or obtains the right to use or has its own software
which is adequate to perform its duties under the Sale and Servicing Agreement and the 2021-1A SUBI Servicing Agreement. 

“Encumbrance” shall mean any security interest, mortgage, claim, charge (fixed or floating), deed of trust,
pledge, hypothecation, assignment, deposit arrangement, equity interest, encumbrance, lien (statutory or other), preference, participation interest, priority or other security agreement or preferential arrangement of any kind or nature whatsoever,
including any conditional sale or other title retention agreement, or any financing lease having substantially the same economic effect as any of the foregoing, and the filing of any financing statement under the UCC or comparable law of any
jurisdiction to evidence any of the foregoing; provided, however, that any assignment permitted by Section 2.05 of, and the lien created by, the Sale and Servicing Agreement shall not be deemed to constitute an Encumbrance; provided further,
however, that each of (a) the lien created in favor of the Depositor under the Loan Purchase Agreement, (b) the lien created in favor of the Issuer under the Sale and Servicing Agreement and (c) the lien created in favor of the
Indenture Trustee under the Indenture shall not be deemed to constitute an Encumbrance. 
 “ERISA” shall
mean the Employee Retirement Income Security Act of 1974, as amended. 
 “EU Institutional Investor” means
an institutional investor as such term is defined in Article 2(12) of the EU Securitization Regulation. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 14 

 “EU Securitization Regulation” means European Union
legislation comprising EU Regulation (EU) 2017/2402. 
 “Euroclear” shall mean the Euroclear System. 

“Event of Default” shall have the meaning specified in Section 5.02 of the Indenture. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

“Excluded Loan” shall have the meaning specified in Section 8.07(iii) of the Indenture. 

“Exported” shall mean, with respect to a Contract, the Servicer (acting at the written direction of the
Indenture Trustee) or the Indenture Trustee has decommissioned the related Electronic Contract and the Authoritative Copy (in the case of an Electronic Contract that constitutes Electronic Chattel Paper) or the electronically authenticated original
record (in the case of an Electronic Contract that does not constitute Electronic Chattel Paper), as applicable, of such Contract is printed out pursuant to a “Paper Out”TM within
the meaning specified in the System Description. “Export” and “Exporting” shall have correlative meanings. 

“Extension Loan” shall mean, as of any date of determination, a personal loan contract with respect to which
the time for payment of any scheduled monthly payment due under such personal loan contract has been extended for more than two months (in the aggregate) within the twelve-month period preceding such date of determination; provided, that if any
payment extension in respect of a personal loan is granted (i) due to the declaration of a state of emergency by the governor of a U.S. state or the President of the United States, or (ii) due to the enactment of laws, regulations,
executive orders or other guidance by any governmental authority (including federal, state or local governments), that mandates the granting of a payment deferral or extension or prevents collection activities with respect to such loan, then, in the
case of clause (i) or (ii), such extension shall not be counted for purposes of determining whether such personal loan contract constitutes an “Extension Loan.” 

“FATCA” shall have the meaning specified in Section 11.17(a) of the Indenture. 

“FATCA Withholding Tax” shall have the meaning specified in Section 11.17(a) of the Indenture. 

“Federal Reserve Board” shall mean the Board of Governors of the Federal Reserve System. 

“First Priority Principal Payment” shall mean, with respect to any Payment Date, (a) at any time prior
to the occurrence of an Event of Default, an amount equal to the excess (if any) of (i) the Class A Note Balance as of the end of the related Collection Period over (ii) the Adjusted Loan Principal Balance as of the end of the related
Collection Period and (b) at any time from and after the occurrence of an Event of Default or on or after the Stated Maturity Date in respect of the Class A Notes, the Class A Note Balance. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 15 

 “Force Majeure Event” shall mean an event that occurs as a
result of an act of God, an act of the public enemy, acts of declared or undeclared war (including acts of terrorism), public disorder, rebellion, sabotage, disease, quarantine, epidemics, pandemics, landslides, lightning, fire, hurricanes,
earthquakes, floods, other natural disasters, or the declaration of a state of emergency by the governor of a U.S. state or the President of the United States. 

“Fourth Priority Principal Payment” shall mean, with respect to any Payment Date, (a) at any time prior
to the occurrence of an Event of Default, an amount equal to the excess (if any) of (i) the sum of (A) the Class A Note Balance as of the end of the related Collection Period plus (B) the Class B Note Balance as of the end
of the related Collection Period plus (C) the Class C Note Balance as of the end of the related Collection Period plus (D) the Class D Note Balance as of the end of the related Collection Period minus the amount on deposit
in the Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account pursuant to Sections 8.06(a)(v), (vii) and (ix) of the Indenture) over (ii) the Adjusted Loan Principal Balance as of the
end of the related Collection Period and (b) at any time from and after the occurrence of an Event of Default or on or after the Stated Maturity Date in respect of the Class D Notes, the sum of the Class A Note Balance, the
Class B Note Balance, the Class C Note Balance and the Class D Note Balance minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account
pursuant to Sections 8.06(a)(v), (vii) and (ix) of the Indenture). 
 “Global Note” shall mean a Rule
144A Global Note or a Regulation S Global Note. 
 “Governmental Authority” shall mean any federal, state,
municipal, national, local or other governmental department, court, commission, board, bureau, agency, intermediary, carrier or instrumentality or political subdivision thereof, or any entity or officer exercising executive, legislative, judicial,
quasi-judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case, whether of the United States or a state, territory or possession thereof, a foreign sovereign entity or country or jurisdiction or
the District of Columbia. 
 “Grant” shall mean to grant, bargain, warrant, alienate, remise, demise,
release, convey, assign, transfer, mortgage, pledge, grant a security interest in, create a right of set-off against, deposit, set over and confirm. A Grant of any item of the Trust Estate shall include all
rights, powers and options (but none of the obligations) of the granting party thereunder, including without limitation the immediate and continuing right to claim for, collect, receive and give receipt for principal and interest payments in respect
of such item of the Trust Estate, and all other monies payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring any suit in equity, action at law or
other judicial or administrative proceeding in the name of the granting party or otherwise, and generally to do and receive anything that the granting party may be entitled to do or receive thereunder or with respect thereto. 

“Hard Secured Loan” shall mean a Branch Loan that is, as of the date of the origination thereof, secured by
a lien on one or more Titled Assets. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 16 

 “Image File Custodian” shall mean Wells Fargo, not in its
individual capacity but solely in its capacity as image file custodian under the Back-up Servicing Agreement, its successors in interest and any successor image file custodian under the Back-up Servicing Agreement. 
 “Image File Custodian Fee” shall mean
(i) a one-time fee of $2.10 for each Imaged File delivered to the Image File Custodian pursuant to the Back-up Servicing Agreement, (ii) a monthly fee of $0.10
for each Imaged File in the Image File Custodian’s custody pursuant to the Back-up Servicing Agreement, payable on each Payment Date beginning in April 2021, (iii) a
one-time fee of $1.00 for each Imaged File deleted pursuant to the Back-up Servicing Agreement, and (iv) a one-time fee of
$0.50 for each Imaged File deleted pursuant to a deletion request totaling more than 3,000 Imaged Files. 
 “Imaged
File” shall mean, with respect to any Loan (except for a Loan with respect to which the related Contract is an Electronic Contract or has been Exported), (a) an imaged copy of the applicable Contract and (b) in the event such Loan is a
Hard Secured Loan, an imaged copy of the certificate of title of the Titled Asset securing such Hard Secured Loan, in each case, as such document exists as of the date such imaging is performed with respect to such Loan. 

“Indemnified Parties” shall have the meaning specified in Section 6.02 of the Loan Purchase Agreement
or Section 11.02 of the Trust Agreement, as applicable. 
 “Indenture” shall mean the Indenture,
dated as of the Closing Date, among the Issuer, the Indenture Trustee, the Account Bank and the Servicer, as the same may be amended, supplemented or otherwise modified from time to time. 

“Indenture Trustee” shall mean Wells Fargo Bank, National Association, in its capacity as indenture trustee
under the Indenture, its successors in interest and any successor indenture trustee under the Indenture. 

“Independent” shall mean, when used with respect to any specified Person, that the Person (a) is in
fact independent of the Issuer, any other obligor upon the Notes, the Depositor, and any Affiliate of any of the foregoing Persons, (b) does not have any direct financial interest or any material indirect financial interest in the Issuer, any
such other obligor, the Depositor or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuer, any such other obligor, the Depositor or any Affiliate of any of the foregoing Persons as an officer, employee,
promoter, underwriter, trustee, partner, director or person performing similar functions. 
 “Independent
Manager” shall have the meaning specified in the Depositor LLC Agreement. 
 “Initial
Beneficiary” shall have the meaning specified in the North Carolina Trust Agreement. 
 “Initial Cut-Off Date” shall mean December 31, 2020. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 17 

 “Initial Loan” shall mean (a) with respect to the
Loan Purchase Agreement, each non-revolving personal loan that is sold to the Depositor pursuant to the Loan Purchase Agreement on the Closing Date, (b) with respect to the Sale and Servicing Agreement,
each non-revolving personal loan that is acquired by the Issuer pursuant to the Sale and Servicing Agreement on the Closing Date, (c) with respect to the 2021-1A
SUBI Supplement, each North Carolina Loan that is allocated to the 2021-1A SUBI on the Closing Date, (d) with respect to the Purchase Agreement, each non-revolving
personal loan that is sold to the Seller pursuant to the Purchase Agreement on the Closing Date, (e) with respect to the Omnibus Distribution and Assignment Agreement, each non-revolving personal loan
that is transferred to the Seller pursuant to the Omnibus Distribution and Assignment Agreement on the Closing Date, and (f) with respect to any Other Warehouse Purchase Agreement, each non-revolving
personal loan that is sold to the Seller pursuant to such Other Warehouse Purchase Agreement on the Closing Date, which for the avoidance of doubt in each case shall include Branch Loans and Convenience Checks. 

“Initial Loan Assignment” shall mean a written agreement substantially in the form of Exhibit A-1 to the Sale and Servicing Agreement relating to the Loans and other Sold Assets acquired by the Issuer on the Closing Date. 

“Initial Note Balance” shall mean $248,700,000. 

“Initial Payment Date” shall mean March 15, 2021. 

“Initial Purchasers” shall mean Wells Fargo Securities, LLC, Credit Suisse Securities (USA) LLC and BMO
Capital Markets Corp. 
 “Insolvency Event” with respect to any Person, shall occur if (a) such
Person shall file a petition or commence a Proceeding (i) to take advantage of any Debtor Relief Law or (ii) for the appointment of a trustee, conservator, receiver, liquidator, or similar official for or relating to such Person or all or
substantially all of its property, or for the winding up or liquidation of its affairs, (b) such Person shall consent or fail to object to any such petition filed or Proceeding commenced against or with respect to it or all or substantially all
of its property, or any such petition or Proceeding shall not have been dismissed or stayed within sixty (60) days of its filing or commencement, or a court, agency, or other supervisory authority with jurisdiction shall have decreed or ordered
relief with respect to any such petition or Proceeding, (c) such Person shall admit in writing its inability to pay its debts generally as they become due, (d) such Person shall make an assignment for the benefit of its creditors,
(e) such Person shall voluntarily suspend payment of its obligations, or (f) such Person shall take any action in furtherance of any of the foregoing. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 18 

 “Intercreditor Agreement” shall mean (a) that certain
Third Amended and Restated Intercreditor Agreement, dated as of September 20, 2019, by and among Regional Management, Wells Fargo Bank, National Association, as agent, the Intercreditor Collateral Agent, Regional Management, as servicer under
the Warehouse Facility and the Outstanding Securitizations, Wells Fargo Bank, National Association, acting through its Corporate Trust Services division, as pre-approved Third Party Allocation Agent, the
Warehouse Borrower, as special purpose subsidiary for the Warehouse Facility, Regional Management, Regional Finance Corporation of South Carolina, Regional Finance Corporation of Georgia, Regional Finance Corporation of Texas, Regional Finance
Corporation of North Carolina, Regional Finance Corporation of Alabama, Regional Finance Corporation of Tennessee, Regional Finance Company of Oklahoma, LLC, Regional Finance Company of New Mexico, LLC, Regional Finance Company of Missouri, LLC,
Regional Finance Company of Georgia, LLC, Regional Finance Company of Mississippi, LLC, Regional Finance Company of Louisiana, LLC, RMC Financial Services of Florida, LLC, Regional Finance Company of Kentucky, LLC, Regional Finance Company of
Virginia, LLC, Regional Finance Corporation of Wisconsin and Regional Finance Company of Illinois, LLC, as Regional borrowers, the 2018-2 Issuer, the 2019-1 Issuer and
the 2020-1 Issuer, as special purpose subsidiaries for the Outstanding Securitizations, Credit Recovery Associates, Inc. and Upstate Motor Company, as guarantors of the Regional borrowers, the 2018-2 Indenture Trustee, the 2019-1 Indenture Trustee and the 2020-1 Indenture Trustee, as administrative agents for the Outstanding
Securitizations, and any trustee, custodian, collateral agent, paying agent or other person authorized on behalf of a Related Secured Party, as the same may be amended, supplemented or otherwise modified from time to time, and (b) that certain
joinder to the document described in clause (a) above, executed by the Indenture Trustee, the Issuer and the other parties thereto on the Closing Date. 

“Intercreditor Security Agreement” shall mean (a) that certain Second Amended and Restated Security
Agreement, dated as of September 20, 2019, by and among Regional Management, Regional Finance Corporation of South Carolina, Regional Finance Corporation of Georgia, Regional Finance Corporation of Texas, Regional Finance Corporation of North
Carolina, Regional Finance Corporation of Alabama, Regional Finance Corporation of Tennessee, Regional Finance Company of Oklahoma, LLC, Regional Finance Company of New Mexico, LLC, Regional Finance Company of Missouri, LLC, Regional Finance Company
of Georgia, LLC, Regional Finance Company of Mississippi, LLC, Regional Finance Company of Louisiana, LLC, RMC Financial Services of Florida, LLC, Regional Finance Company of Illinois, LLC, Regional Finance Company of Kentucky, LLC, Regional Finance
Company of Virginia, LLC and Regional Finance Corporation of Wisconsin, as ABL borrowers, Credit Recovery Associates, Inc. and Upstate Motor Company, as guarantors, the Warehouse Borrower and each additional grantor that is a signatory or becomes a
signatory thereunder, including the 2018-2 Issuer, the 2019-1 Issuer and the 2020-1 Issuer, as entered into for the benefit of
the Intercreditor Collateral Agent, as collateral agent for the Lender Agents, as the same may be amended, supplemented or otherwise modified from time to time, and (b) that certain joinder to the document described in clause (a) above,
executed by the Issuer and the other parties thereto on the Closing Date. 
 “Interest Period” shall mean,
for each Class of Notes and with respect to any Payment Date, the period from and including the Payment Date immediately preceding such Payment Date to but excluding such Payment Date (or, in the case of the Initial Payment Date, the period
from and including the Closing Date to but excluding such Payment Date). 
 “Interest Rate” shall mean,
with respect to the Class A Notes, the Class A Interest Rate, with respect to the Class B Notes, the Class B Interest Rate, with respect to the Class C Notes, the Class C Interest Rate, and with respect to the
Class D Notes, the Class D Interest Rate. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 19 

 “Internal Revenue Code” shall mean the Internal Revenue
Code of 1986, as amended. 
 “Investment Company Act” shall mean the Investment Company Act of 1940, as
amended. 
 “IRS” shall mean the U.S. Internal Revenue Service. 

“Issuer” shall mean Regional Management Issuance Trust 2021-1, a
statutory trust organized and existing under the laws of the State of Delaware, and its permitted successors and assigns. 

“Issuer Loan Release” shall have the meaning specified in Section 8.07(v) of the Indenture. 

“Issuer Order” shall mean a written order or request signed in the name of the Issuer by an Authorized
Officer and delivered to the Indenture Trustee. 
 “Large Branch Loan” shall mean a Loan that is a large
branch-originated loan. 
 “Later-Sold Note” shall have the meaning specified in Section 3.14(c) of
the Indenture. 
 “Lender Agents” shall mean the agent under the ABL Facility and the agent under the
Warehouse Facility. 
 “Lien” shall mean, with respect to any property, any mortgage, deed of trust,
pledge, hypothecation, assignment, deposit arrangement, equity interest, encumbrance, lien (statutory or other), preference, participation interest, priority or other security agreement or preferential arrangement of any kind or nature whatsoever
relating to that property, including any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing and the filing of any financing statement under the UCC or
comparable law of any jurisdiction to evidence any of the foregoing. 
 “Liquidation Proceeds” shall mean,
for any Collection Period and any Charged-Off Loan, the amount (which shall not be less than zero) received by the Servicer and deposited into the Collection Account after such Loan became a Charged-Off Loan, in connection with the attempted realization of the full amounts due or to become due under such Loan, whether from the sale or other disposition of any underlying collateral securing the related
Contract, the proceeds of repossession or any collection effort, the proceeds of recourse or similar payments payable in respect of such Loan, or otherwise, net of any amounts required by Applicable Law to be remitted to the related Loan Obligor and
net of any reasonable out-of-pocket expenses (exclusive of overhead) incurred by the Servicer with respect to the collection and enforcement of such Loan, to the extent
not previously reimbursed to the Servicer. 
 “Loan” shall mean any Initial Loan or Additional Loan, but
excluding any Loan that has been reassigned to the Seller (or in the case of the 2021-1A SUBI Loans, reallocated from the 2021-1A SUBI in accordance with the 2021-1A SUBI Supplement) pursuant to Section 6.01 of the Loan Purchase Agreement or Section 3.02(d) of the 2021-1A SUBI Servicing Agreement or otherwise in
accordance with the Transaction Documents. Unless otherwise qualified herein, all references to “Loan” shall include the 2021-1A SUBI Loans. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 20 

 “Loan Action” shall have the meaning specified in
Section 8.07 of the Indenture. 
 “Loan Action Date” shall mean any Payment Date. 

“Loan Action Date Aggregate Principal Balance” shall mean, for any Loan Action Date, the aggregate Loan
Action Date Loan Principal Balance for all Loans in the Loan Action Date Loan Pool for such Loan Action Date. 

“Loan Action Date Loan Pool” shall mean, for any Loan Action Date, all Loans that (a)(i) constitute part of
the Trust Estate and are not Charged-Off Loans, in each case, as of the end of the Collection Period immediately preceding such Loan Action Date, or (ii) are added to the Trust Estate on such Loan Action
Date; (b) have not ceased to be part of the Trust Estate after the end of the Collection Period immediately preceding such Loan Action Date, including as a result of any Loan Actions on such Loan Action Date; and (c) are not, following the
Loan Actions to be taken on such Loan Action Date, designated as Excluded Loans. 
 “Loan Action Date Loan
Principal Balance” shall mean, for any Loan and any Loan Action Date, the Loan Principal Balance of such Loan as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date. 

“Loan File” shall mean, with respect to each Loan, (i)(w) in the case of a Contract (other than an
Electronic Contract or a Convenience Check), the original fully executed Contract, including, in the case of a Contract which has been Exported, the physical rendering of the related Electronic Contract produced upon Export, together with the
related document history report, (x) in the case of an Electronic Contract that constitutes Electronic Chattel Paper, a single Authoritative Copy of the executed Contract, (y) in the case of an Electronic Contract that does not constitute
Electronic Chattel Paper, the electronically authenticated original record of the executed Contract, and (z) in the case of a Convenience Check, a copy of the Contract, and (ii) any additional original executed documents, if any,
evidencing a modification to any of the foregoing documents, whether executed physically or electronically and whether maintained in tangible or electronic form; provided, that with respect to clauses (i)(x) and (i)(y), the Electronic Contract is
maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee (for the benefit of the Noteholders) in the Electronic Vault pursuant to Section 3.11(b) of the Sale and Servicing Agreement. 

“Loan Obligor” shall mean any borrower, co-borrower, guarantor, or
other obligor with respect to a Loan. In respect of each Loan, if there is more than one Loan Obligor (husband and wife, for example), references herein to Loan Obligor shall mean any or all of such Loan Obligors, as the context may require. 

“Loan Pool” shall mean the pool of Loans (including the 2021-1A SUBI
Loans). 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 21 

 “Loan Principal Balance” shall mean as of any
determination date with respect to (a) a Loan other than a Precompute Loan, the outstanding principal balance of such Loan and (b) a Loan that is a Precompute Loan, the calculated principal balance of such Precompute Loan, which is the
result of (x) the remaining unpaid amount due in respect of such Precompute Loan minus (y) the unearned interest on such Precompute Loan calculated on an accrual basis, provided, that the Loan Principal Balance of any Loan a portion
of which has been charged off in accordance with the Credit and Collection Policy shall be reduced by the portion so charged off. 

“Loan Purchase Agreement” shall mean the Loan Purchase Agreement, dated as of the Closing Date, between the
Seller and the Depositor. 
 “Loan Reassignment” shall mean a Loan Reassignment in substantially the form
of Exhibit C hereto, or in the case of the 2021-1A SUBI Loans in substantially the form of the Reallocation Notice of Exhibit D to the 2021-1A SUBI Supplement. 

“Loan Schedule” shall mean a complete schedule prepared by the Servicer on behalf of the Seller and the
Depositor identifying all Loans sold by the Seller to the Depositor (or in the case of the 2021-1A SUBI Loans, allocated to the 2021-1A SUBI in accordance with the 2021-1A SUBI Supplement) on the initial Closing Date, and which Loans (other than the 2021-1A SUBI Loans), in turn, are sold by the Depositor to the Issuer on the initial
Closing Date, as such schedule is updated or supplemented from time to time, including, without limitation, in connection with any Additional Loan Assignment or any reassignment (or in the case of the 2021-1A
SUBI Loans, reallocation of such 2021-1A SUBI Loans from the 2021-1A SUBI) pursuant to Section 2.05 of this Agreement or Section 11.2(a) of the 2021-1A SUBI Supplement, as applicable, or otherwise. The Loan Schedule may take the form of a computer file, or another tangible medium that is commercially reasonable. The Loan Schedule shall identify each Loan by
last name of the Loan Obligor, the Loan Obligor’s account number, whether such Loan is a Hard Secured Loan (with a certificate of title or not), the Loan amount, APR, contract term (i.e., the number of payments), branch state and Loan
Obligor’s state of residence at time of origination (to the extent such information appears in any relevant Imaged File). 

“Material Adverse Effect” shall mean, in respect of any Person, a material adverse change in the business,
assets or operations of such Person. 
 “Modified Contract” shall mean a personal loan contract which, at
any time, was in default and which default was cured by adjusting or amending the contract terms or accepting a reduced payment, other than a personal loan contract that was modified in connection with an insolvency proceeding under Chapter 13 of
the Bankruptcy Code. 
 “Monthly Data Tape” shall mean the electronic files containing the information
necessary for the Servicer to prepare the Monthly Servicer Report pursuant to Section 3.06 of this Agreement. 

“Monthly Determination Date” shall mean, with respect to any Payment Date, the date that is two
(2) Business Days prior to such Payment Date. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 22 

 “Monthly Net Loss Percentage” shall mean, for any Monthly
Determination Date, the product of (i) the quotient (expressed as a percentage) of (I) the sum of (x) the aggregate Loan Principal Balance of all Loans that became Charged-Off Loans during the
related Collection Period, plus (y) the aggregate amount by which the Loan Principal Balance of any Loans (other than Charged-Off Loans) were reduced due to being charged off in accordance with the
Credit and Collection Policy during the related Collection Period, minus (z) the aggregate amount of Monthly Recoveries collected during the related Collection Period and (II) the Adjusted Loan Principal Balance of all Loans in the
Trust Estate as of the close of business on the day immediately prior to the commencement of such Collection Period, times (ii) twelve (12). 

“Monthly Recoveries” shall mean, without duplication, with respect to any Loan, any amounts (up to the
aggregate principal balance of such Loan that has been charged off in accordance with the Credit and Collection Policy) actually collected that, in accordance with the Credit and Collection Policy in effect at the time of such collection, constitute
recoveries of amounts that were previously charged off with respect to such Loan. 
 “Monthly Servicer
Report” shall mean, with respect to each Payment Date, the certificate of the Servicer delivered pursuant to Section 3.06 of this Agreement with respect to such Payment Date, in the form attached as Exhibit C to the Indenture. 

“Moody’s” shall mean Moody’s Investors Service, Inc. 

“Non-Authoritative Copy” shall have the meaning specified in the
Electronic Collateral Control Agreement. 
 “North Carolina Loans” shall mean North Carolina Receivables
as defined in the North Carolina Trust Agreement. 
 “North Carolina Trust” shall mean Regional Management
North Carolina Receivables Trust, a Delaware statutory trust. 
 “North Carolina Trust Agreement” shall
mean the Second Amended and Restated Trust Agreement, dated as of June 28, 2018, by and between Regional North Carolina, as settlor and initial beneficiary and Wilmington Trust, National Association, as UTI trustee, Delaware trustee and
Administrative Trustee, as amended by the First Amendment to Second Amended and Restated Trust Agreement, dated as of the Closing Date. 

“North Carolina Trust Assets” shall have the meaning specified in the North Carolina Trust Agreement. 

“North Carolina Trustees” shall mean Wilmington Trust, National Association, a national banking association,
acting as the “UTI Trustee,” the “Delaware Trustee,” the “Administrative Trustee,” and the “2021-1A SUBI Trustee,” in such capacities with respect to the North Carolina
Trust. 
 “Nortridge Loan System” means a third-party technology platform on which the Regional Management
Entities’ underwriting, servicing and collection activity are logged and maintained and which is integrated into such entities’ information technology infrastructure. 

“Note Account” shall mean the Collection Account, the Principal Distribution Account or the Reserve Account,
as applicable. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 23 

 “Note Purchase Agreement” shall mean that certain Note
Purchase Agreement, dated February 8, 2021 among the Issuer, the Depositor, Regional Management and Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC, as the Initial Purchasers. 

“Note Register” shall mean the register maintained pursuant to Section 2.05(a) of the Indenture in
which the Notes are registered. 
 “Note Registrar” shall have the meaning specified in
Section 2.05(a) of the Indenture. 
 “Noteholder” or “Holder” shall mean the Person
in whose name a Note is registered in the Note Register, or such other Person deemed to be a “Noteholder” or “Holder” pursuant to the Indenture. 

“Noteholder FATCA Information” means properly completed and signed tax certifications (generally, in the
case of U.S. federal income tax, IRS Form W-9 (or applicable successor form) in the case of a payee that is “United States person” within the meaning of Section 7701(a)(30) of the Internal
Revenue Code or the appropriate IRS Form W-8 (or applicable successor form) in the case of a payee that is not a “United States person” within the meaning of Section 7701(a)(30) of the Internal
Revenue Code) or any other tax documentation which the Issuer or the Indenture Trustee may reasonably request. 

“Noteholder Redemption Notice” shall have the meaning specified in Section 8.08(c) of the Indenture.

 “Notes” shall mean the Class A Notes, the Class B Notes, the Class C Notes or the
Class D Notes issued by the Issuer pursuant to the Indenture. 
 “NRSROs” shall mean nationally
recognized statistical rating organizations. 
 “NYUCC” shall mean the UCC as in effect in the State of
New York. 
 “Officer’s Certificate” shall mean, except to the extent otherwise specified, a
certificate signed by an Authorized Officer of the Issuer, the Depositor, the Servicer, the Seller or the Indenture Trustee, as applicable. 

“Omnibus Distribution and Assignment Agreement” shall mean that Omnibus Distribution and Assignment
Agreement, dated as of the Closing Date, by and among the Regional Originators, as assignors, and Regional Management, as assignee. 

“Opinion of Counsel” shall mean a written opinion of counsel, who may be counsel for, or an employee of, the
Person providing the opinion and who shall be reasonably acceptable to the Person to whom the opinion is to be provided; provided, however, that any Tax Opinion or other opinion relating to U.S. federal income tax matters shall be an
opinion of nationally recognized tax counsel experienced in the matters to which such Tax Opinion relates. 

“Optional Call” shall have the meaning specified in Section 8.08(b) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 24 

 “Optional Call Amount” shall have the meaning specified in
Section 8.08(b) of the Indenture. 
 “Optional Purchase” shall have the meaning specified in
Section 2.09(a) of this Agreement. 
 “Original Loan Principal Balance” shall mean, with respect to
any Loan, the outstanding principal balance of such Loan, or if such Loan is a Precompute Loan, the principal balance of such Precompute Loan calculated in accordance with the definition of “Loan Principal Balance,” in each case as of the
related Cut-Off Date with respect to such Loans. 
 “Other SUBI”
shall have the meaning set forth in the 2021-1A SUBI Supplement. 
 “Other
SUBI Assets” shall have the meaning specified in Section 10.17 of this Agreement. 
 “Other Warehouse
Purchase Agreement” shall mean each purchase agreement entered into after the Closing Date between Regional Management and one or more borrowers under one or more warehouse facilities, which borrowers are wholly-owned special purpose
subsidiaries of Regional Management, for the purpose of transferring Loans directly or indirectly to the Issuer. 

“Outstanding” shall mean, as of any date of determination, all Notes previously authenticated and delivered
under the Indenture except: 
 (a)    Notes previously cancelled by the Indenture
Trustee or delivered to the Indenture Trustee for cancellation; 
 (b)    Notes for
whose payment or redemption money in the necessary amount has been previously deposited with the Indenture Trustee for the holders of such Notes; provided, that if such Notes are to be redeemed, any required notice of such redemption pursuant
to the Indenture or provision for such notice satisfactory to the Indenture Trustee has been made; and 

(c)    Notes that have been paid under Section 2.06 of the Indenture or in exchange
for or in lieu of which other Notes have been authenticated and delivered under the Indenture, other than any such Notes for which there shall have been presented to the Indenture Trustee proof satisfactory to it that such Notes are held by a
protected purchaser; 
 provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Notes have given any request, demand, authorization, direction, notice, consent or waiver under the Indenture, Notes owned by the Issuer, any other obligor upon the Notes, the Depositor, the Servicer or the Seller or any Affiliate
thereof shall be disregarded and considered not to be Outstanding, except that, in determining whether the Indenture Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes
that a Responsible Officer of the Indenture Trustee, as the case may be, has actual knowledge of being so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to
the satisfaction of the Indenture Trustee the pledgee’s right so to act for such Notes and that the pledgee is not the Issuer, any other obligor upon the Notes, the Depositor, the Servicer, or the Seller or any Affiliate thereof. In making any
such determination, the Indenture Trustee may rely on the representations of the pledgee and shall not be required to undertake any independent investigation. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 25 

 “Outstanding Securitizations” shall mean the 2019-1 Securitization and the 2020-1 Securitization. 

“Overcollateralization Event” shall mean, for any Loan Action Date, after giving effect to all Loan Actions
to be taken on such Loan Action Date and all payments and distributions to be made in accordance with Section 8.06 of the Indenture and all principal payments to be made on the Notes, in each case, on the Payment Date that occurs on such
Loan Action Date, (a) the Loan Action Date Aggregate Principal Balance minus the Required Overcollateralization Amount is less than (b) the Aggregate Note Balance minus the amounts on deposit in the Principal Distribution
Account. 
 “Ownership Interest” shall have the meaning specified in Section 10.01 of the Trust
Agreement. 
 “Owner of Record” shall mean the owner of an Authoritative Copy (in the case of an
Electronic Contract that constitutes Electronic Chattel Paper) or an electronically authenticated original record of an executed Contract (in the case of an Electronic Contract that does not constitute Electronic Chattel Paper), which, within the
Electronic Vault System, is the Issuer, with respect to all Loans that are not North Carolina Loans, and is the North Carolina Trust, with respect to all North Carolina Loans. 

“Owner Trustee” shall mean Wilmington Trust, National Association, not in its individual capacity but solely
in its capacity as owner trustee under the Trust Agreement, its successors in interest and any successor owner trustee under the Trust Agreement. 

“Owner Trust Estate” shall have the meaning specified in Section 2.01 of the Trust Agreement. 

“Participant” shall mean a broker, dealer, bank, other financial institution or other Person for whom from
time to time DTC effects book-entry transfers and pledges of securities deposited with DTC. 
 “Payment
Date” shall mean the fifteenth (15th) day of each calendar month, or if such 15th day is not a Business Day, the next succeeding Business Day, beginning on March 15, 2021. 

“Periodic Filing” shall mean any filing or submission that the Trust is required to make with any federal,
state or local authority or regulatory agency. 
 “Permanent Regulation S Global Note” shall have the
meaning specified in Section 2.05(b) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 26 

 “Permitted Assignee” shall mean any Person who, if it were
to purchase Loans in connection with a sale under Sections 5.05 and 5.17 of the Indenture, would not cause the Issuer to be taxable as a publicly traded partnership for federal income tax purposes. 

“Permitted Lien” shall mean (a) Liens for taxes not delinquent or for taxes being contested in good
faith and by appropriate proceedings, and with respect to which adequate reserves have been established, and are being maintained, in accordance with generally accepted accounting principles promulgated or adopted by the Financial Accounting
Standards Board and its predecessors and successors from time to time, (b) mechanics’, materialmen’s, landlords’, warehousemen’s, garagemen’s and carriers’ Liens, and other like Liens imposed by law, securing
obligations arising in the ordinary course of business, (c) motor vehicle accident liens and towing and storage liens, (d) any Lien created by the Purchase Agreement, the Omnibus Distribution and Assignment Agreement or any Other Warehouse
Purchase Agreement in favor of the Seller, (e) any Lien created by the Loan Purchase Agreement in favor of the Depositor, (f) any Lien created by the Sale and Servicing Agreement in favor of the Issuer, (g) any Lien created by the 2021-1A Security Agreement in favor of the Indenture Trustee and (h) any Lien created by the Indenture for the benefit of the Indenture Trustee on behalf of the Noteholders. 

“Permitted Reassignment” shall mean with respect to (i) any reassignment by the Issuer to the
Depositor, (ii) any reassignment by the Depositor to the Seller or (iii) any reallocation from the 2021-1A SUBI to the UTI or an Other SUBI held by the Initial Beneficiary or the Seller or any other
sale of a 2021-1A SUBI Loan from the 2021-1A SUBI to the Initial Beneficiary or the Seller, so long as, after giving effect to such reassignment or reallocation, as
applicable, and all other Loan Actions to be taken such Loan Action Date, the aggregate of the Loan Principal Balances of all Reassigned Loans measured as of the Loan Action Date on which such Loans became Reassigned Loans for such Loan Action Date
and the preceding eleven (11) consecutive Collection Periods (or, if shorter, the most recently ended period of consecutive Collection Periods since the Closing Date), in each case, measured as of the end of the most recently ended Collection
Period prior to such Loan being reassigned (or in the case of the 2021-1A SUBI Loans, reallocated from the 2021-1A SUBI)) will not exceed 10.0% of the aggregate Loan
Principal Balance as of the Initial Cut-Off Date. 
 “Permitted
Securitization” shall mean any personal loan securitization transaction (other than the personal loan securitization transaction evidenced by the Transaction Documents) pursuant to which the Depositor (i) acts as depositor,
(ii) acquires personal loans from the Seller or Affiliates of Regional Management, (iii) enters solely into Permitted Securitization Transaction Documents and (iv) with respect to which Opinions of Counsel relating to the “true
sale” of such personal loans and the “substantive consolidation” of the Depositor are delivered. 

“Permitted Securitization Transaction Documents” shall mean, as the context may require, the Transaction
Documents and/or, with respect to any personal loan securitization for which the Depositor is acting as depositor, (other than the personal loan securitization transaction evidenced by the Transaction Documents), transaction documents that are
substantially the same as the Transaction Documents except for the terms of the securities being issued by the relevant securitization trust (such as the amount and type of securities, eligible pool criteria, events of default, early amortization
events, maturity and amortization dates, the length of any applicable revolving period, interest rates and fees, the priority of payment and other economic terms of such securities). 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 27 

 “Permitted Transferee” is defined in Section 10.02 of
the Trust Agreement. 
 “Permitted Trust Investments” shall mean any of the following investments: 

(a)    Marketable securities issued by the U.S. Government and supported by the full faith
and credit of the U.S. Treasury, either by statute or an opinion of the Attorney General of the United States; 

(b)    Directly or fully guaranteed obligations of the U.S. Treasury, the Government
National Mortgage Association guaranteed mortgage-back securities, the consolidated debt obligations of the Federal Home Loan Banks, debt obligations of Federal Home Loan Mortgage Corp., and debt obligations of Federal National Mortgage Association;

 (c)    Certificates of deposit, time deposits, and bankers’ acceptances of any
bank or trust company incorporated under the laws of the United States or any state, provided that, at the date of acquisition, such investment, and/or the commercial paper or other short term debt obligation of such bank or trust company has
a short-term credit rating or ratings from Moody’s and/or S&P, each at least P-1 or A-1; 

(d)    Deposit accounts with any bank that are insured by the Federal Deposit Insurance
Corporation and whose long-term obligations are rated A2 or better by Moody’s and/or A or better by S&P; 

(e)    Commercial paper of any corporation incorporated under the laws of the United
States or any state thereof which on the date of acquisition is rated by Moody’s and/or S&P, provided each such credit rating is least P-1 and/or A-1;

 (f)    Money market mutual funds that are registered with the Securities and Exchange
Commission under the Investment Company Act of 1940, as amended, and operated in accordance with Rule 2a-7 and that at the time of such investment are rated Aaa by Moody’s and/or AAAm by S&P,
including such funds for which the Owner Trustee or an affiliate provides investment advice or other services; 

(g)    Tax-exempt variable rate commercial paper, tax-exempt adjustable rate option tender bonds, and other tax-exempt bonds or notes issued by municipalities in the United States, having a short-term rating of “MIG-1” or “VMIG-1” or a long term rating of “Aa” (Moody’s), or a short-term rating of
“A-1” or a long term rating of “AA” (S&P); 

(h)    Repurchase obligations with a term of not more than thirty (30) days, 102%
collateralized, for underlying securities of the types described in clauses (a) and (b) above, entered into with any bank or trust company or its respective affiliate meeting the requirements specified in clause (c) above; and 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 28 

 (i)    Maturities on the above
securities shall not exceed 365 days and all rating requirements and/or percentage restrictions are based on the time of purchase. 

“Person” shall mean any legal person, including any individual, corporation, limited liability company,
partnership, joint venture, association, joint-stock company, trust, unincorporated organization, governmental entity or other entity of any nature. 

“PPM” shall have the meaning specified in Section 9.01(a)(i) of the Indenture. 

“Precompute Loan” shall mean any Loan reflected as a “precompute loan” on the records of the
Servicer or the applicable Subservicer. 
 “Principal Distribution Account” shall have the meaning
specified in Section 8.02(a)(ii) of the Indenture. 
 “Proceeding” shall mean any suit in equity,
action at law or other judicial or administrative proceeding. 
 “Purchase Agreement” shall mean the
Purchase Agreement, dated as of the Closing Date, between Regional Management and the Warehouse Borrower. 

“Purchase Price” shall have the meaning specified in Section 3.01(a) of the Loan Purchase Agreement.

 “Purchased Assets” shall have the meaning specified in Section 2.01(a) of the Loan Purchase
Agreement. 
 “QIB” shall mean a “qualified institutional buyer” as defined in Rule 144A. 

“Rating Agency” shall mean DBRS Morningstar or S&P, and “Rating Agencies” shall mean
DBRS Morningstar and S&P, collectively. 
 “Rating Agency Notice Requirement” shall mean, with respect
to any action subject to such condition, (i) the notification in writing by each Rating Agency then rating any Outstanding Class of Notes (which notification may be in the form of e-mail, facsimile,
press release, posting to its website or other such means then considered industry standard as determined by the applicable Rating Agency) that a proposed action will not result in a reduction or withdrawal by such Rating Agency of the then-current
rating of such Class, or (ii) if a Rating Agency then rating any Outstanding Class of Notes has informed the Issuer that such Rating Agency does not provide such written notifications for actions of the type being proposed, then as to such
Rating Agency the Issuer shall deliver written (which may include e-mail) notice of the proposed action to such Rating Agency or Rating Agencies at least ten (10) Business Days prior to the effective date
of such action (or such shorter notice period if specified in the Indenture with respect to any specific action, or if ten (10) Business Days prior notice is impractical, such advance notice as is practicable). 

“Reassigned Loan” shall have the meaning specified in Section 8.07(v) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 29 

 “Reassignment Date” shall have the meaning specified in
Section 2.10(b)(i) of this Agreement. 
 “Reassignment Price” shall mean, with respect to any
Reassigned Loan, an amount equal to the greater of (a) the fair market value of such Reassigned Loan, which shall be determined as of the close of business on the day prior to the related Loan Action Date on which such reassignment is to occur,
or (b) the outstanding principal amount of such Reassigned Loan together with all accrued and unpaid interest thereon to, but excluding, the related Loan Action Date on which such reassignment is to occur. 

“Recharacterized Notes” shall have the meaning specified in Section 3.14(b) of the Indenture. 

“Record Date” shall mean, with respect to any Payment Date, the last Business Day of the calendar month
immediately preceding the calendar month during which such Payment Date occurs; provided, that the first Record Date shall be the Closing Date. 

“Records” shall mean, with respect to any Contract, all documents, books, records and other information
(including computer programs, tapes, disks, punch cards, data processing software and related property and rights) maintained with respect to any related item of the Purchased Assets, Sold Assets or 2021-1A
SUBI Assets, as applicable, and the related Loan Obligor. 
 “Redeeming Party” shall have the meaning
specified in Section 8.08(c) of the Indenture. 
 “Redeeming Party Notice” shall have the meaning
specified in Section 8.08(c) of the Indenture. 
 “Redemption Date” shall have the meaning specified
in Section 8.08(c) of the Indenture. 
 “Redemption Price” shall have the meaning specified in
Section 8.08(a) of the Indenture. 
 “Regional” shall mean Regional Management, together with the
Regional Originators. 
 “Regional Management” shall mean Regional Management Corp., a Delaware
corporation. 
 “Regional Management Entities” shall mean Regional Management, the Issuer and the Regional
Originators. 
 “Regional North Carolina” shall mean Regional Finance Corporation of North Carolina, a
North Carolina corporation. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 30 

 “Regional Originators” shall mean Regional Finance
Corporation of Alabama, an Alabama corporation, Regional Finance Company of Georgia, LLC, a Delaware limited liability company, Regional Finance Company of Missouri, LLC, a Delaware limited liability company, Regional Finance Company of New Mexico,
LLC, a Delaware limited liability company, Regional Finance Corporation of North Carolina, a North Carolina corporation, Regional Finance Company of Oklahoma, LLC, a Delaware limited liability company, Regional Finance Corporation of South Carolina,
a South Carolina corporation, Regional Finance Corporation of Tennessee, a Tennessee corporation, Regional Finance Corporation of Texas, a Texas corporation, Regional Finance Company of Virginia, LLC, a Delaware limited liability company, Regional
Finance Corporation of Wisconsin, a Wisconsin corporation, and any additional Regional Affiliate that may originate Loans from the time after the Closing Date and prior to the end of the Revolving Period. From time to time after the Closing Date,
prior to the end of the Revolving Period, additional Affiliates of Regional Management may become “Regional Originators” provided that the Rating Agency Notice Requirement is satisfied. 

“Regional Party” or “Regional Parties” shall have the meaning specified in
Section 8.03 of this Agreement. 
 “Regular Principal Payment Amount” shall mean, with respect to any
Payment Date, an amount equal to the excess (if any) of (a) the Aggregate Note Balance as of the end of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any
allocations on such Payment Date to the Principal Distribution Account pursuant to Sections 8.06(a)(v), (vii), (ix) and (xi) of the Indenture) over (b) (i) the Adjusted Loan Principal Balance as of the end of the related Collection Period
minus (ii) the Required Overcollateralization Amount. 
 “Regulation RR” shall mean the SEC’s
credit risk retention rules, 17 C.F.R. Part 246. 
 “Regulation S” shall mean Regulation S promulgated
under the Securities Act. 
 “Regulation S Definitive Note” shall have the meaning specified in
Section 2.05(b) of the Indenture. 
 “Regulation S Global Note” shall have the meaning specified in
Section 2.05(b) of the Indenture. 
 “Reinvestment Criteria Event” shall mean, for any Loan Action
Date, the existence of any of the following, as determined based on the Loan Principal Balance and other characteristics of each Loan in the applicable Loan Action Date Loan Pool as of the end of the Collection Period relating to such Loan Action
Date: 
 (a)    the aggregate Loan Action Date Loan Principal Balance of (i) all Single State
Originated Loans in the Loan Action Date Loan Pool for the Top Three States for such Loan Action Date shall exceed 80.0% of the Loan Action Date Aggregate Principal Balance or (ii) all Single State Originated Loans in the Loan Action Date Loan
Pool for any single State shall exceed 40.0% of the Loan Action Date Aggregate Principal Balance; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 31 

 (b)    the aggregate Loan Action Date Loan Principal
Balance of all Single State Originated Loans in the Loan Action Date Loan Pool for any single State (other than any Top Three State for such Loan Action Date) shall exceed 15.0% of the Loan Action Date Aggregate Principal Balance; 

(c)    the Weighted Average Coupon for such Loan Action Date shall be less than 26.0%; 

(d)    the Weighted Average Loan Remaining Term for such Loan Action Date shall exceed 46 months; 

(e)    the aggregate Loan Action Date Loan Principal Balance of all Loans in the Loan Action Date Loan
Pool that had an original term of greater than 60 months shall exceed 2.5% of the Loan Action Date Aggregate Principal Balance; 

(f)    the aggregate Loan Action Date Loan Principal Balance of all Loans in the Loan Action Date Loan
Pool that have received a payment deferment during the Collection Period relating to such Loan Action Date shall exceed 10.0% of the Loan Action Date Aggregate Principal Balance; 

(g)    the aggregate Loan Action Date Loan Principal Balance of all Loans in the Loan Action Date Loan
Pool, the Loan Obligors of which have a FICO® score at the time of origination within any “FICO® Score Range” listed below, shall exceed the percentage of the Loan Action Date
Aggregate Principal Balance set forth in the table below opposite such “FICO® Score Range”; 
  

			
	
FICO® Score Range
	  	
Percentage

	 Less than
541
	  	7.0%
	 Less than
581
	  	19.0%
	 Less than
621
	  	50.0%
	 Less than
661
	  	85.0%

 (h)    the aggregate Loan Action Date Loan Principal Balance of all
Unsecured Loans in the Loan Action Date Loan Pool shall exceed 17.5% of the Loan Action Date Aggregate Principal Balance, provided that with respect to such Unsecured Loans in the Loan Action Date Loan Pool, Convenience Checks shall not exceed 15.0%
of the Loan Action Date Aggregate Principal Balance; 
 (i)    an Overcollateralization Event exists;

 (j)    the aggregate Loan Action Date Loan Principal Balance of all Small Branch Loans in the Loan
Action Date Loan Pool shall exceed 20.0%; and 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 32 

 (k)    the aggregate Loan Action Date Loan Principal
Balance of all Unsecured Loans in the Loan Action Date Loan Pool, the Loan Obligors of which have a FICO® score at the time of origination less than 621, shall exceed 2.25%. 

“Related Collateral” shall have the meaning specified in Section 2 of the 2021-1A Security Agreement. 
 “Related Loan Assets” shall mean
(i) with respect to a Loan (other than a 2021-1A SUBI Loan), the Purchased Assets related to such Loan and (ii) with respect to a 2021-1A SUBI Loan, the Trust
Assets related to such 2021-1A SUBI Loan, in each case, including any proceeds of the foregoing. 

“Renewal” shall mean, with respect to any Loan in the Trust Estate, a transaction in which a new non-revolving personal loan originated pursuant to a Contract is entered into between a Regional Originator and a Loan Obligor, which new non-revolving personal loan
(x) is originated in accordance with Regional’s renewal underwriting criteria as set forth in its Credit and Collection Policy, (y) refinances such Loan in full or in part and (z) may also extend additional financing to such Loan
Obligor. 
 “Renewal Loan” shall mean the new non-revolving
personal loan entered into between the applicable Regional Originator and the Loan Obligor pursuant to any Renewal. 

“Repurchase Price” shall mean an amount equal to the Purchase Price paid for such Loan (or in the case of a 2021-1A SUBI Loan, the amount paid in consideration for the allocation of such Loan to the 2021-1A SUBI) as of the Closing Date or the related Addition Date, as applicable,
less any Collections representing payment of principal received by the Issuer since the date of the purchase of such Loan (or in the case of a 2021-1A SUBI Loan, allocation to the 2021-1A SUBI), plus any out-of-pocket costs incurred by the Servicer, the Depositor or the Issuer, as applicable, in connection with
such repurchase or reallocation. 
 “Required Noteholders” shall mean, at any time, the Holders of Notes
evidencing more than 50% of the Outstanding Notes. 
 “Required Overcollateralization Amount” shall mean
$11,717,052.84. 
 “Requirements of Law” shall mean, for any Person, (a) any certificate of
incorporation, certificate of formation, articles of association, bylaws, limited liability company agreement, or other organizational or governing documents of that Person and (b) any law, treaty, statute, regulation, or rule, or any
determination by a Governmental Authority or arbitrator, that is applicable to or binding on that Person or to which that Person is subject. This term includes usury laws, the Truth in Lending Act, and Regulation Z and Regulation B of the Board of
Governors of the Federal Reserve System. 
 “Reserve Account” shall have the meaning specified in
Section 8.02(a)(iii) of the Indenture. 
 “Reserve Account Draw Amount” shall have the meaning
specified in Section 8.02(a)(iii) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 33 

 “Reserve Account Required Amount” shall mean, with respect
to the Closing Date and any Payment Date, an amount equal to $2,604,170.53. 
 “Responsible Officer” shall
mean, (a) with respect to the Indenture Trustee, the Back-up Servicer, the Image File Custodian or the Owner Trustee, any officer within the Corporate Trust Office of such Person, as applicable, as the
case may be, including any Vice President, Assistant Vice President, Assistant Treasurer, Assistant Secretary, or any other officer of such Person, as applicable, customarily performing functions similar to those performed by any of the above
designated officers, and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, in each case having direct responsibility
for the administration of the Indenture and the other Transaction Documents on behalf of such Person, as applicable, and (b) with respect to any of Regional Management, the Issuer or the Regional Originators, with respect to a particular
matter, any officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, in each case having direct responsibility for the administration of the Transaction Documents on behalf of
such Person. 
 “Revolving Loan” shall mean any personal loan which (a) is reflected as a
“revolving loan” on the records of the Servicer or the applicable Subservicer and (b) arises under an account pursuant to which an obligor may request future advances or draws pursuant to the applicable loan agreement. 

“Revolving Period” shall mean the period beginning at the close of business on the Closing Date and ending
on the close of business on the earlier of (a) the Revolving Period Termination Date and (b) the close of business on the Business Day immediately preceding the day on which an Early Amortization Event or an Event of Default is deemed to
have occurred; provided, that the Revolving Period shall be reinstated upon the occurrence of either of the following: (x)(i) the Revolving Period terminated due to the occurrence of an Early Amortization Event under Section 5.01(a)
of the Indenture, and such Early Amortization Event shall have been cured as of three (3) consecutive Loan Action Dates and (ii) no other event that would have caused the Revolving Period to terminate shall have occurred on or prior to,
and be continuing as of, such reinstatement; or (y)(i) the Revolving Period terminated due to the occurrence of an Early Amortization Event under Section 5.01(b) of the Indenture, and there subsequently occurs a Loan Action Date with
respect to which no Reinvestment Criteria Event exists and (ii) no other event that would have caused the Revolving Period to terminate shall have occurred on or prior to, and be continuing as of, such reinstatement; provided,
further that, in the event that the Revolving Period is reinstated on any Loan Action Date, such reinstatement shall be given effect for purposes of determining any distributions and allocations to occur on the Payment Date following such
Loan Action Date pursuant to Section 8.06 and Section 8.07 of the Indenture. For purposes of this definition, “cured” shall mean that the circumstances that would constitute an Early Amortization Event do not exist. 

“Revolving Period Termination Date” shall mean the close of business on February 29, 2024; provided,
that, the Revolving Period may terminate earlier than such date as a result of an Early Amortization Event or an Event of Default. 

“Rule 144A” shall mean Rule 144A promulgated under the Securities Act. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 34 

 “Rule 144A Definitive Note” shall have the meaning
specified in Section 2.05(b) of the Indenture. 
 “Rule 144A Global Note” shall have the meaning
specified in Section 2.05(b) of the Indenture. 
 “Rule 15Ga-1
Information” shall have the meaning specified in Section 6.14(c) of the Indenture. 

“S&P” shall mean Standard & Poor’s Rating Services, a Standard & Poor’s
Financial Services LLC business, and its successors.  
 “Sale and Servicing Agreement” shall mean
the Sale and Servicing Agreement, dated as of the Closing Date, among the Depositor, the Servicer, the Subservicers, the Issuer, and the North Carolina Trust. 

“SEC” shall mean the United States Securities and Exchange Commission. 

“Second Priority Principal Payment” shall mean, with respect to any Payment Date, (a) at any time prior
to the occurrence of an Event of Default, an amount equal to the excess (if any) of (i) the sum of (A) the Class A Note Balance as of the end of the related Collection Period plus (B) the Class B Note Balance as of
the end of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account pursuant to Section 8.06(a)(v) of the Indenture)
over (ii) the Adjusted Loan Principal Balance as of the end of the related Collection Period and (b) at any time from and after the occurrence of an Event of Default or on or after the Stated Maturity Date in respect of the Class B
Notes, the sum of the Class A Note Balance and the Class B Note Balance minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account pursuant to
Section 8.06(a)(v) of the Indenture). 
 “Securities Act” shall mean the Securities Act of 1933, as
amended. 
 “Seller” shall mean Regional Management. 

“Servicer” shall mean (a) initially Regional Management, in its capacity as Servicer pursuant to the
Sale and Servicing Agreement and the 2021-1A SUBI Servicing Agreement and any Person that becomes the successor thereto pursuant to the Sale and Servicing Agreement, and (b) after any Servicing Transfer
Date, the Successor Servicer. 
 “Servicer Default” shall have the meaning specified in Section 8.01
of this Agreement. 
 “Servicer File” shall mean, with respect to a Loan, each of the following documents:
(i) application of the Loan Obligor for credit; (ii) a copy (but not the original) of the Contract and any amendments or modifications thereto; provided, however, if such documents constitute Electronic Contracts, originals or copies
thereof may be accessible via the Electronic Vault System or via the Nortridge Loan System; and (iii) such other documents as the Servicer customarily retains in its files in order to accomplish its duties under this Agreement; provided, that
in each case such documents may be in either tangible or electronic form. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 35 

 “Servicing Assumption Date” shall have the meaning
specified in Section 1.1 of the Back-up Servicing Agreement. 

“Servicing Centralization Period” shall have the meaning specified in Section 1.1 of the Back-up Servicing Agreement. 
 “Servicing Fee” shall have the meaning
specified in Section 3.02 of this Agreement. 
 “Servicing Transfer” shall have the meaning specified
in Section 8.01 of this Agreement. 
 “Servicing Transfer Date” shall mean the date on which a
Successor Servicer has assumed all of the duties and obligations of the Servicer under the Sale and Servicing Agreement and the 2021-1A SUBI Servicing Agreement (other than in the case of the Back-up Servicer, any such duty or obligation that it is not required to assume under the terms of the Back-up Servicing Agreement, the Sale and Servicing Agreement or the 2021-1A SUBI Servicing Agreement, as applicable) after the resignation or termination of the Servicer. 

“Servicing Transfer Notice” shall mean a written notice substantially in the applicable form attached to the
Back-up Servicing Agreement from the Indenture Trustee to the Back-up Servicer.  

“Servicing Transition Costs” shall have the meaning specified in Section 1.1 of the Back-up Servicing Agreement. 
 “Servicing Transition Period” shall have
the meaning specified in Section 1.1 of the Back-up Servicing Agreement. 

“Similar Law” shall mean any non-U.S., federal, state or local law
that is substantially similar to Section 406 of ERISA or Section 4975 of the Internal Revenue Code. 

“Single State Originated Loans” shall mean, with respect to any State and for any Loan Action Date, all of
the Loans in the Loan Action Date Loan Pool with respect to such Loan Action Date that were originated by any branch within such State. 

“Small Branch Loan” shall mean a Loan that is a small branch-originated loan. 

“Soft Secured Loan” shall mean a Branch Loan that is, as of the date of the origination thereof, secured by
untitled assets, including but not limited to, personal property, such as furniture, electronic equipment or other household goods, subject to limitations imposed by applicable law on the taking of
non-purchase money security interests in such items. 
 “Sold
Assets” shall have the meaning specified in Section 2.01(a) of this Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 36 

 “State” shall mean any of the fifty (50) states in
the United States of America or the District of Columbia. 
 “Stated Maturity Date” shall mean, with
respect to each Class of Notes, March 17, 2031. 
 “SUBI” shall mean special unit of beneficial
interest. 
 “SUBI Certificate Purchase Agreement” shall mean the SUBI Certificate Purchase Agreement,
dated as of the date hereof, by and between Regional North Carolina and the Seller. 
 “Subservicer” shall
mean (a) prior to any Servicing Transfer Date, each subservicer identified in Schedule I of the Sale and Servicing Agreement, in its capacity as a Subservicer pursuant to the Sale and Servicing Agreement, any person that becomes an Additional
Subservicer pursuant to Section 10.19 of this Agreement and any Person that becomes the successor thereto under Section 6.02 of this Agreement as a “Subservicer” after the Closing Date and any assignee thereof pursuant to
Section 6.05 of this Agreement, and (b) after any Servicing Transfer Date, any subservicers appointed by the Successor Servicer, which may include some or all of the subservicers referred to in the foregoing clause (a). 

“Successor Servicer” shall mean the successor servicer appointed in accordance with Section 8.02 of
this Agreement. 
 “System Description” shall mean the written description of the Electronic Vault System,
attached hereto as Exhibit H. 
 “Tax Opinion” shall mean, with respect to any action, an Opinion
of Counsel to the effect that, for U.S. federal income tax purposes, (a) such action will not adversely affect the tax characterization as debt of any Note of any Outstanding Class with respect to which an Opinion of Counsel was delivered
at the time of its original issuance as to the characterization of such Note as debt for U.S. federal income tax purposes (it being understood that any such Opinion of Counsel shall not be required to provide any greater level of assurance regarding
the tax characterization of any Class of Notes than was provided in the original Opinion of Counsel with respect to such Class), (b) such action will not cause or constitute an event in which gain or loss would be recognized by the Holder of
any Class of Notes with respect to which an Opinion of Counsel was delivered at the time of original issuance to the effect that such Notes would be characterized as debt for U.S. federal income tax purposes (it being understood that no such
Opinion of Counsel shall be required with respect to Notes as to which no Opinion of Counsel for U.S. federal income tax purposes was delivered), and (c) such action will not cause the Issuer to be classified as an association (or publicly
traded partnership) taxable as a corporation. 
 “Temporary Regulation S Global Note” shall have the
meaning specified in Section 2.05(b) of the Indenture. 
 “Termination Notice” shall have the meaning
specified in Section 8.01 of this Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 37 

 “Third Party Allocation Agent” shall mean the pre-approved third party allocation agent pursuant to the Intercreditor Agreement, which as of the Closing Date is Wells Fargo. 

“Third Priority Principal Payment” shall mean, with respect to any Payment Date, (a) at any time prior
to the occurrence of an Event of Default, an amount equal to the excess (if any) of (i) the sum of (A) the Class A Note Balance as of the end of the related Collection Period plus (B) the Class B Note Balance as of
the end of the related Collection Period plus (C) the Class C Note Balance as of the end of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any
allocations to the Principal Distribution Account pursuant to Sections 8.06(a)(v) and (vii) of the Indenture) over (ii) the Adjusted Loan Principal Balance as of the end of the related Collection Period and (b) at any time from and
after the occurrence of an Event of Default or on or after the Stated Maturity Date in respect of the Class C Notes, the sum of the Class A Note Balance, the Class B Note Balance and the Class C Note Balance minus the
amount on deposit in the Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account pursuant to Sections 8.06(a)(v) and (vii) of the Indenture). 

“Threshold Noteholders” shall mean, at any time, the Holders of Notes evidencing more than 25% of the
Outstanding Notes. 
 “Titled Asset” shall mean a motor vehicle, boat, trailer or other asset for which,
under applicable State law, a certificate of title is issued and any security interest therein is required to be perfected by notation on such certificate of title or recorded with the relevant Governmental Authority that issued such certificate of
title. 
 “Top Three States” shall mean, for any Loan Action Date, the three States that have the highest
concentrations of Single State Originated Loans in the Loan Action Date Loan Pool with respect to such Loan Action Date. 

“Transaction Documents” shall mean the Certificate of Trust, the Trust Agreement, the Note Purchase
Agreement, the SUBI Certificate Purchase Agreement, the Purchase Agreement, the Omnibus Distribution and Assignment Agreement, any Other Warehouse Purchase Agreement, the Loan Purchase Agreement, the Sale and Servicing Agreement, the Indenture, the
Administration Agreement, the Back-up Servicing Agreement, the Intercreditor Agreement, the Intercreditor Security Agreement, the North Carolina Trust Agreement, the UTI Administration Agreement, the 2021-1A SUBI Servicing Agreement, the 2021-1A SUBI Supplement, the 2021-1A Security Agreement, the Electronic Collateral Control
Agreement, the Electronic Vault Services Agreement and such other documents and certificates delivered in connection with the foregoing. 

“Trust” shall mean the Trust established by the Trust Agreement. 

“Trust Assets” shall have the meaning specified in Section 2.1(a) of the North Carolina Trust
Agreement. 
 “Trust Account” shall mean the account established by the Owner Trustee on behalf of the
Trust pursuant to Section 4.04 of the Trust Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 38 

 “Trust Agreement” shall mean the Amended and Restated
Trust Agreement relating to the Issuer, dated as of the Closing Date, between the Depositor and the Owner Trustee. 

“Trust Certificate” shall have the meaning specified in Section 10.01 of the Trust Agreement. 

“Trust Company” shall mean Wilmington Trust, National Association or any successor thereto that is acting as
Owner Trustee. 
 “Trust Estate” shall have the meaning specified in the Granting Clause of the Indenture.

 “UCC” shall mean the Uniform Commercial Code of the applicable jurisdiction. 

“Unsecured Loan” shall mean a Loan that is, as of the date of the origination thereof, not secured, which
for the avoidance of doubt shall include Convenience Checks. 
 “UTI” shall have the meaning specified in
the North Carolina Trust Agreement. 
 “UTI Administration Agreement” shall mean the UTI Administration
Agreement, dated as of June 28, 2018, by and between Regional North Carolina and Regional Management. 
 “UTI
Trustee” shall mean Wilmington Trust, National Association, and any Person that becomes the successor thereto pursuant to the North Carolina Trust Agreement. 

“Volcker Rule” shall mean Section 619 of the Dodd-Frank Act, together with any implementing
regulations. 
 “Warehouse Borrower” shall mean Regional Management Receivables II, LLC. 

“Warehouse Facility” shall mean the Amended and Restated Credit Agreement, dated as of October 17,
2019, as amended by the omnibus amendment, dated as of August 18, 2020, by and among the Warehouse Borrower, Regional Management, as servicer, the lenders from time to time thereto, the agents from time to time thereto, Wells Fargo Bank,
National Association, as account bank, image file custodian and back-up servicer, Wells Fargo Bank, National Association, as administrative agent, and Credit Suisse AG, New York Branch, as structuring and
syndication agent. 
 “Weighted Average Coupon” shall mean, with respect to any Loan Action Date, the
weighted average APR of all Loans in the Loan Action Date Loan Pool for such Loan Action Date, determined based upon (i) the Loan Action Date Loan Principal Balance of such Loans and (ii) the APR of such Loans as of the close of business
on the last day of the Collection Period immediately preceding such Loan Action Date (or, if such Loan did not exist as of the last day of such Collection Period, the date on which such Loan was originated). 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 39 

 “Weighted Average Loan Remaining Term” shall mean, with
respect to any Loan Action Date, the weighted average remaining term to maturity (as set forth in the applicable Contracts) of all Loans in the Loan Action Date Loan Pool for such Loan Action Date, determined based upon (i) the Loan Action Date
Loan Principal Balance of such Loans and (ii) the remaining term to maturity of such Loans as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date (or, if such Loan did not exist as of
the last day of such Collection Period, the date on which such Loan was originated). 
 “Wells Fargo”
shall mean Wells Fargo Bank, National Association, a national banking association, and its permitted successors and assigns. 

“WTNA” shall mean Wilmington Trust, National Association. 

“2018-2 Indenture” shall mean the Indenture, dated as of
December 13, 2018, among Regional Management Issuance Trust 2018-2, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2018-2 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its
capacity as indenture trustee under the 2018-2 Indenture. 
 “2018-2 Issuer” shall mean Regional Management Issuance Trust 2018-2, a Delaware statutory trust. 

“2019-1 Indenture” shall mean the Indenture, dated as of
October 31, 2019, among Regional Management Issuance Trust 2019-1, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2019-1 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its
capacity as indenture trustee under the 2019-1 Indenture. 
 “2019-1 Issuer” shall mean Regional Management Issuance Trust 2019-1. 

“2019-1 Securitization” shall mean the asset-backed securitization
transaction in an aggregate principal amount of $130,000,000 consummated by Regional Management as of October 31, 2019. 

“2020-1 Indenture” shall mean the Indenture, dated as of
September 23, 2020, among Regional Management Issuance Trust 2020-1, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2020-1 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its
capacity as indenture trustee under the 2020-1 Indenture. 
 “2020-1 Issuer” shall mean Regional Management Issuance Trust 2020-1. 

“2020-1 Securitization” shall mean the asset-backed securitization
transaction in an aggregate principal amount of $180,000,000 consummated by Regional Management as of September 23, 2020. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 40 

 “2021-1A Security
Agreement” shall mean the Security Agreement, dated as of the Closing Date, among the North Carolina Trust, the Issuer, Regional North Carolina and the Indenture Trustee. 

“2021-1A SUBI” shall have the meaning specified in the 2021-1A SUBI Supplement. 
 “2021-1A SUBI
Assets” shall have the meaning specified in the 2021-1A SUBI Supplement. 

“2021-1A SUBI Certificate” shall have the meaning specified in the 2021-1A SUBI Supplement. 
 “2021-1A SUBI
Loans” shall have the meaning specified in the 2021-1A SUBI Supplement. 

“2021-1A SUBI Servicer” shall have the meaning specified in the 2021-1A SUBI Servicing Agreement. 

“2021-1A SUBI Servicing Agreement” shall mean the 2021-1A SUBI Servicing Agreement, dated as of the Closing Date, among the North Carolina Trust, the Issuer, as 2021-1A SUBI holder, and Regional Management, as 2021-1A SUBI Servicer. 
 “2021-1A SUBI
Transferred Assets” shall have the meaning specified in Section 2.01 of the SUBI Certificate Purchase Agreement. 

“2021-1A SUBI Supplement” shall mean the 2021-1A SUBI Supplement to the North Carolina Trust Agreement, dated as of the Closing Date, among Regional North Carolina, as settlor and initial beneficiary, the Issuer, as
2021-1A SUBI beneficiary and 2021-1A SUBI holder, and Wilmington Trust, National Association, as UTI trustee, 2021-1A SUBI
trustee and Administrative Trustee. 
 “2021-1A SUBI Trustee”
shall mean Wilmington Trust, National Association, in its capacity as 2021-1A SUBI Trustee. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 41 

 Part B – Rules of
Construction                         

(a)    All terms defined in this Appendix or any Transaction Document shall have the defined meanings
when used in any certificate or other document made or delivered pursuant hereto or thereto unless otherwise defined therein. 

(b)    As used in this Appendix or any Transaction Document, accounting terms that are not defined herein
or therein, and accounting terms partly defined herein or therein shall have the respective meanings given to them under generally accepted accounting principles. To the extent that the definitions of accounting terms in this Appendix or any
Transaction Document are inconsistent with the meanings of such terms under generally accepted accounting principles, the definitions contained in this Appendix or such Transaction Document will control. 

(c)    Any reference in this Appendix or any Transaction Document to “the Rating Agency” shall
only apply to any specific rating agency if such rating agency is then rating any Class of Notes at the request of the Issuer or Depositor and otherwise such references shall have no force or effect; provided, that, in the event that the
Depositor, the Issuer or any representative thereof requested that such rating agency cease rating the Notes, such references shall continue in full force and effect. Any reference in this Appendix or any Transaction Document to a specified rating
level from any rating agency shall mean at least such specified rating and any rating level higher than the rating level specified shall also be deemed to satisfy the referenced rating requirement. 

(d)    With respect to any Payment Date or Loan Action Date, (i) the “related Collection
Period” shall mean the Collection Period immediately prior to the Collection Period in which such Payment Date or Loan Action Date occurs and (ii) the “related Monthly Determination Date” shall mean the Monthly Determination Date
first preceding such Payment Date, and the relationships among Collection Periods and Monthly Determination Dates will be correlative to the foregoing relationships. 

(e)    Each defined term used in this Appendix or any Transaction Document has a comparable meaning when
used in its plural or singular form. Each gender-specific term used in this Appendix or any Transaction Document has a comparable meaning whether used in a masculine, feminine or gender-neutral form. 

(f)    Unless otherwise specified, references in this Appendix or any Transaction Document to any amount
as on deposit or outstanding on any particular date shall mean such amount at the close of business on such day. 

(g)    The words “hereof”, “herein” and “hereunder”
and words of similar import when used in this Appendix or any Transaction Document shall refer to this Appendix or such Transaction Document as a whole and not to any particular provision or subdivision of this Appendix or such Transaction Document;
references to any subsection, Section, Schedule or Exhibit contained in this Appendix or any Transaction Document are references to subsections, Sections, Schedules and Exhibits in or to this Appendix or such Transaction Document unless otherwise
specified; and the term “including” shall mean “including without limitation.” The word “or” when used in this Appendix or any Transaction Document is not exclusive. Whenever the term “including”
(whether or not followed by the phrase “but not limited to” or “without limitation” or words of similar effect) is used in this Appendix or any Transaction Document in connection with a listing of items within a particular
classification, that listing will be interpreted to be illustrative only and will not be interpreted as a limitation on, or exclusive listing of, the items within that classification. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 42 

 (h)    Terms used in this Appendix or any Transaction
Document herein that are defined in the NYUCC and not otherwise defined shall have the meanings set forth in the NYUCC unless the context requires otherwise. 

(i)    Any reference in this Appendix or any Transaction Document to the “Appendix,” this
“Appendix,” the “Agreement,” this “Agreement” or words of like import shall be a reference to this Appendix or such Transaction Document as it may be amended, supplemented or modified from time to time. Any definition
of or reference to any agreement, instrument or other document in this Appendix or any Transaction Document shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth in any Transaction Document). 

(j)    Any reference in this Appendix or any Transaction Document to a “beneficial interest” in
a security also shall mean a security entitlement with respect to such security, and any reference herein to a “beneficial owner” or “beneficial holder” of a security also shall mean the holder of a security entitlement with
respect to such security. 
 (k)    Any reference in this Appendix or any Transaction Document to any
law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified
or supplemented from time to time. 
 (l)    Any reference to any Person shall include such
Person’s respective permitted successors and assigns. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule II - 43 

 Schedule III 

Perfection Representations, Warranties and Covenants 

In addition to the representations, warranties and covenants contained in this Sale and Servicing Agreement, the Depositor hereby represents,
warrants, and covenants to the Issuer as follows on the Closing Date (it being understood that each such representation, warranty and covenant is not being made in respect of any 2021-1A SUBI Loan): 

1.      This Sale and Servicing Agreement creates a valid and continuing security interest (as
defined in the applicable UCC) in the Loans in favor of the Issuer, which security interest is prior to all other Liens (other than Permitted Liens), and is enforceable as such as against creditors of and purchasers from the Depositor. 

2.      The Loans constitute “tangible chattel paper,” “payment
intangibles,” “accounts,” “instruments,” “general intangibles” or “electronic chattel paper” within the meaning of the UCC. 

3.      The Depositor owns and has good and marketable title to the Loans free and clear of any
Lien (other than any Permitted Lien), claim or encumbrance of any Person. 
 4.      The
Depositor will cause, within ten (10) days after the effective date of this Sale and Servicing Agreement, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in
order to perfect the sale of and the security interest in each Loan sold by the Depositor, and if any additional such filing is necessary in connection with any Additional Loans sold by the Depositor to the Issuer, the Depositor will cause such
filings to be made within ten (10) days of the applicable Addition Date. All financing statements referred to in this paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing
statement will violate the rights of the Secured Party/Purchaser”. 
 5.      (a) Other
than the conveyance (including any security interest granted) to the Issuer pursuant to this Sale and Servicing Agreement, the Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Sold Assets
(other than any such pledge, assignment, sale, grant or conveyance that is no longer effective); and (b) the Depositor has not authorized the filing of, and is not aware of, any financing statements against the Depositor that include a
description of collateral covering any Loan sold by the Depositor to the Issuer other than any financing statement (i) relating to the conveyance of the Loans by the Warehouse Borrower to the Seller under the Purchase Agreement,
(ii) relating to the conveyance of Loans by a borrower under a warehouse facility pursuant to an Other Warehouse Purchase Agreement, if applicable, (iii) relating to the conveyance of Loans by a Regional Originator to the Seller under the
Omnibus Distribution and Assignment Agreement, (iv) relating to the conveyance of the 2021-1A SUBI Certificate by Regional North Carolina to the Seller under the SUBI Certificate Purchase Agreement,
(v) relating to the pledge of the 2021-1A SUBI Assets by each of the North Carolina Trust and the Issuer to the Indenture Trustee, (vi) relating to the conveyance of the 2021-1A SUBI Certificate and the Loans (other than the 2021-1A SUBI Loans) by the Seller to the Depositor pursuant to the Loan Purchase Agreement, (vii) relating to the
conveyance of the Loans (other than the 2021-1A SUBI Loans) by the Depositor to the Issuer pursuant to the Sale and Servicing Agreement, (viii) relating to the security interest granted to the Indenture
Trustee under the Indenture or (ix) that has been terminated. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule III - 1 

 6.      The Depositor is not aware of any
material judgment, ERISA or tax lien filings against the Depositor. 
 7.      On the date of
the conveyance of any Loan by the Depositor to the Issuer, the Seller (or any Affiliate thereof) has in its possession all originals (or, in the case of Convenience Checks, copies) of the instruments and tangible chattel paper that constitute or
evidence each Loan sold by the Seller to the Depositor; and none of the tangible chattel paper that constitute or evidence such Loan sold by such Seller to the Depositor has any stamps, marks or notations indicating that such Loan has been pledged,
assigned or otherwise conveyed to any Person other than the Seller, the North Carolina Trust, the Depositor, the Issuer or the Indenture Trustee other than any such stamps, marks or notations that relate to a pledge, assignment, conveyance or other
interest that has been cancelled, terminated or voided (or if such stamp, mark or notation is in the name of an agent (or any predecessor agent) under the ABL Facility, the Issuer has the right to cancel or void such stamp, mark or notation without
the consent of such agent (or any predecessor agent, as applicable), and such agent (or any predecessor agent, as applicable) has released in writing its lien on such Contract). 

8.      Notwithstanding any other provision of this Sale and Servicing Agreement or any other
Transaction Document, the perfection representations, warranties and covenants contained in this Schedule III shall be continuing, and remain in full force and effect until such time as all obligations under this Sale and Servicing Agreement have
been finally and fully paid and performed. 
 9.      The Depositor has received all consents
and approvals to the sale of each Loan sold by it under the Sale and Servicing Agreement to the Issuer required by the terms of the Sale and Servicing Agreement to the extent that it constitutes an instrument. 

10.      To the extent that any Contract relating to a Loan constitutes Electronic Chattel
Paper, there is only one single Authoritative Copy of each electronic “record” constituting or evidencing a Contract that is Electronic Chattel Paper, the record or records composing the Electronic Chattel Paper are created, stored and
assigned in such a manner that (A) a single authoritative copy of the record or records exists which is unique, identifiable and unalterable (other than a revision that is readily identifiable as an authorized or unauthorized revision), (B)
each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy, (C) the authoritative copy has been communicated to and is maintained by the Electronic Vault Provider as a
designated custodian of the Indenture Trustee, (D) all copies or revisions that add or change an identified assignee of the Authoritative Copy of such Contract that constitutes or evidences the Loan must be made with the participation of the
Indenture Trustee, and (E) such Authoritative Copy identifies only the Indenture Trustee as the assignee. To the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, none of the Seller, the Servicer, the Electronic
Vault Provider nor any other Person has communicated an Authoritative Copy of such Contract that constitutes or evidences the Loan to any Person other than the Electronic Vault Provider as a designated custodian of the Indenture Trustee pursuant to
the terms of the Sale and Servicing Agreement and the Electronic Collateral Control Agreement from and after the Closing Date or the applicable Addition Date. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule III - 2 

 The parties to this Sale and Servicing Agreement shall provide each Rating
Agency with prompt written notice of any material breach of the perfection representations, warranties and covenants contained in this Schedule III, and shall not, without satisfying the Rating Agency Notice Requirement, waive a breach of any of
such perfection representations, warranties or covenants. 
 The Depositor covenants that, in order to evidence the
interests of the Issuer under this the Sale and Servicing Agreement, the Depositor shall take such action, or execute and deliver such instruments as may be necessary or advisable (including, without limitation, such actions as are requested by the
Issuer) to maintain and perfect, as a first-priority interest, the Issuer’s security interest in the Loans. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule III - 3 

 Schedule IV 

Loan Level Representations, Warranties and Covenants 

With respect to any Loan that is sold by the Seller to the Depositor (or in the case of the
2021-1A SUBI Loans, allocated to the 2021-1A SUBI by the Servicer in accordance with the 2021-1A SUBI Supplement) the following
representations and warranties are made as of the Closing Date and on each Addition Date as applicable: 
  

	 	1.	 (A) With respect to a Loan other than a North Carolina Loan, immediately prior to the sale and assignment to
the Depositor, (i) the Seller has sole and exclusive ownership of such Loan and any Related Loan Assets free and clear of any Lien (other than any Permitted Lien), (ii) the Loan Purchase Agreement effects a valid sale to the Depositor of such
Loan and the Related Loan Assets free and clear of any Liens (other than any Permitted Lien), (iii) upon the Closing Date or Addition Date, as applicable, with respect to such Loan, (a) there will be vested in the Depositor sole and exclusive
ownership of such Loan and all Related Loan Assets free and clear of any Lien (other than any Permitted Lien) of any Person claiming through or under the Seller and in compliance with all Requirements of Law applicable to the Seller and
(b) there will have been effected a valid assignment of the Seller’s interest in such Loan and all Related Loan Assets, enforceable against the Seller and, upon the filing of all appropriate UCC financing statements, against all other
persons, including creditors of and all other entities that have purchased or will purchase assets from the Seller, (iv) no filings, notices or other compliance with any bulk sales provisions of the UCC or other applicable Requirements of Law
in respect of bulk sales are required to be made by the Seller, the Depositor or any Affiliate thereof and (v) such Loan is not subject to any right of set off or similar right, and (B) with respect to a North Carolina Loan only,
(i) immediately prior to the contribution and assignment to the North Carolina Trust, Regional North Carolina has sole and exclusive ownership of such North Carolina Loan and any related Contributed Assets free and clear of any Lien (other than
any Permitted Lien), (ii) the Transfer and Contribution Agreement effects a valid contribution to the North Carolina Trust of such North Carolina Loan and the related Contributed Assets free and clear of any Liens (other than any Permitted Lien),
(iii) upon the Closing Date or Addition Date, as applicable, with respect to each North Carolina Loan to be allocated to the 2021-1A SUBI, (a) there will be vested in the North Carolina Trust sole and
exclusive ownership of such Loan and all related 2021-1A SUBI Assets free and clear of any Lien (other than any Permitted Lien) of any Person claiming through or under Regional North Carolina and in compliance
with all Requirements of Law applicable to Regional North Carolina and (b) there will have been effected a valid assignment of Regional North Carolina’s interest in such Loan and all related 2021-1A
SUBI Assets, enforceable against Regional North Carolina and, upon the filing of all appropriate UCC financing statements, against all other persons, including creditors of and all other entities that have purchased or will purchase assets from
Regional North Carolina, (iv) no filings, notices or other compliance with any bulk sales provisions of the UCC or other applicable Requirements of Law in respect of bulk sales are required to be made by the Regional North Carolina, the North
Carolina Trust or any Affiliate thereof and (v) such Loan is not subject to any right of set off or similar right. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule IV - 1 

	 	2.	 All consents, licenses, approvals or authorizations of, or registrations or declarations with, any
Governmental Authority that are required in connection with the sale of such Loan and the Related Loan Assets (or in the case of the 2021-1A SUBI Loans, the allocation of such Loan and related 2021-1A SUBI Assets) or in order for the Depositor (or in the case of the 2021-1A SUBI Loans, the Issuer) or any transferee thereof to realize all rights and benefits with
respect to such Loan and the Related Loan Assets, in each case have been obtained or made by it or an Affiliate thereof and are fully effective. 

  

	 	3.	 It has not used any selection procedure adverse to the interests of the Depositor (or in the case of the 2021-1A SUBI Loans, the North Carolina Trust), its transferees or the Noteholders in selecting the related Loans to be sold under the Loan Purchase Agreement (or in the case of the
2021-1A SUBI Loans, allocated to the 2021-1A SUBI) on the Closing Date or such Addition Date, as applicable. 

 

	 	4.	 The Loan Schedule (as supplemented by any applicable additional Loan Schedule) identifies each Loan conveyed
by the Seller to the Depositor or allocated to the 2021-1A SUBI, as applicable, on the Closing Date or such Addition Date, as applicable. 

 

	 	5.	 As of the applicable Cut-Off Date, such Loan was an Eligible Loan.

  

	 	6.	 Such Loan complies in all material respects with the terms of the applicable Contract.

  

	 	7.	 The Contract for such Loan is a legal, valid and binding obligation of the applicable Regional Originator
thereunder and the related Loan Obligor and any guarantor or co-signer named therein, in each case enforceable in accordance with its terms (except as enforceability may be limited by Debtor Relief Laws or
general principles of equity), and, to its knowledge, is not subject to offset, recoupment, adjustment or any other claim. 

  

	 	8.	 It or an Affiliate thereof has in its possession all originals (or, in the case of Convenience Checks,
copies) of the instruments and tangible chattel paper (if any) that constitute or evidence such Loan on the Closing Date or such Addition Date, as applicable. 

 

	 	9.	 None of the tangible chattel paper that constitute or evidence such Loan on the Closing Date or such
Addition Date, as applicable, has any stamps, marks or notations indicating that such Loan has been pledged, assigned or otherwise conveyed to any Person other than the Seller, the North Carolina Trust, the Depositor, the Issuer or the Indenture
Trustee, other than any such stamps, marks or notations that relate to a pledge, assignment, conveyance or other interest that has been cancelled, terminated or voided (or if such stamp, mark or notation is in the name of an agent (or any
predecessor agent) under the ABL Facility, the Issuer has the right to cancel or void such stamp, mark or notation without the consent of such agent (or any predecessor agent, as applicable), and such agent (or any predecessor agent, as applicable)
has released in writing its lien on such Contract). 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule IV - 2 

	 	10.	 The Contract for such Loan is freely assignable and such Contract does not require the approval or consent
of any related Loan Obligor or any other person to effectuate the valid assignment of the same by the Regional Originator, the Seller, the North Carolina Trust or any Affiliate thereof. 

 

	 	11.	 Such Loan has been serviced and at all times maintained in accordance with the Credit and Collection Policy
by it or an Affiliate thereof. 

  

	 	12.	 Such Loan arises from or in connection with a bona fide sale or loan transaction (including any
amounts in respect of interest amounts and other charges and fees assessed on such Loan). 

  

	 	13.	 Each Loan Obligor of such Loan is an individual, and such Loan has not been entered into with any
corporation, partnership, association or other similar entity. 

  

	 	14.	 Such Loan, the related Contract and all other related documents comply in all material respects with all
Requirements of Law. It and each Affiliate thereof has complied in all material respects with all applicable Requirements of Law with respect to the origination, marketing, maintenance and servicing of such Loan and the disclosures in respect
thereof including any change in the terms of such Loan. The interest rates, fees and charges in connection with such Loan comply, in all material respects, with all Requirements of Law. 

 

	 	15.	 (A) It or an Affiliate thereof has performed all obligations required to be performed by it or any Affiliate
to date under the related Contract, and all actions of it or an Affiliate thereof taken with respect to such Contract prior to the Closing Date or the related Addition Date, as applicable, have been in compliance, in all material respects, with such
Contract; (B) neither the Seller nor any Affiliate is in default under such Contract; and (C) no event has occurred under such Contract that, with the lapse of time or action by the applicable Loan Obligor or any third party, is reasonably
likely to result in a material default by it or any Affiliate under, any such Contract. 

  

	 	16.	 It and each Affiliate thereof (A) has complied in all material respects with the Credit and Collection
Policy relating to such Loan at all times; (B) has not entered into any transaction or made any commitment or agreement in connection with such Loan, other than in the ordinary course of such person’s business consistent in all material
respects with the Credit and Collection Policy as in effect on the date of such transaction, commitment or agreement; and (C) has not amended the terms of any related Contract except in accordance in all material respects with the Credit and
Collection Policy relating to such Loan as in effect on the date of such amendment. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule IV - 3 

	 	17.	 Neither it nor any Affiliate thereof has any known material obligations, commitments or other liabilities,
absolute or contingent, relating to such Loan or the Related Loan Assets. 

  

	 	18.	 It or an Affiliate thereof has properly and timely filed all foreign, federal, state, county, local and
other tax returns, including information returns required by law to be filed prior to the Closing Date or the applicable Addition Date with respect to such Loan and the Related Loan Assets and has withheld, paid or accrued all amounts shown thereon
to be due that are due prior to the applicable Cut-Off Date or accrue prior to such time. 

  

	 	19.	 The related Contract, together with its other records relating to such Loan are complete in all material
respects and, upon conveyance thereof to the Depositor under the Loan Purchase Agreement (or in the case of a 2021-1A SUBI Loan, allocation to the 2021-1A SUBI), the
Custodian (or any applicable subcustodian or designee of the Indenture Trustee) will be in possession of (or, in the case of an Electronic Contract, the Electronic Vault will contain) all documents necessary to enforce the rights and remedies of the
Regional Originator (as assigned in accordance with the Transaction Documents) in respect of such Loan against the Loan Obligor in accordance with the related Contract. 

 

	 	20.	 No transfer of such Loan and Related Loan Assets to the Depositor (or in the case of a 2021-1A SUBI Loan, no allocation of such 2021-1A SUBI Loan and related 2021-1A SUBI Assets) is being made with intent to hinder, delay
or defraud any of its creditors. 

  

	 	21.	 With the exception of Convenience Checks, to the extent that any Contract relating to such Loan constitutes
an instrument or tangible chattel paper (each within the meaning of Section 9-102 of the UCC), there is only one original of such executed Contract. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule IV - 4 

	 	22.	 (I) (A) With respect to any Initial Loan, either (x) the Imaged File for such Initial Loan shall
have been delivered to the Image File Custodian on or prior to the Closing Date or (y) to the extent that such Loan is a Hard Secured Loan for which the related certificate of title has not yet been issued, (i) the documents specified in
clause (a) of the definition of Imaged File have been delivered to the Image File Custodian and (ii) a valid application for the certificate of title and the applicable fee have been delivered to the appropriate authority in accordance
with 9-303(b) of the UCC, in each case, on or prior to the Closing Date (provided, however, that this clause (A)(y)(ii) shall be deemed breached if such documents are not delivered to the Image File
Custodian within one hundred eighty (180) days after the Closing Date); and (B) with respect to any Additional Loan, it shall have delivered (or caused to be delivered) either (x) the Imaged File for such Additional Loan to the Image
File Custodian on or prior to the applicable Addition Date or (y) to the extent that such Loan is a Hard Secured Loan for which the related certificate of title has not yet been issued by the appropriate authority, (i) the documents
specified in clause (a) of the definition of Imaged File have been delivered to the Image File Custodian and (ii) a valid application for the certificate of title and the applicable fee have been delivered to the appropriate authority in
accordance with 9-303(b) of the UCC, in each case, on or prior to the applicable Addition Date (provided, however, that this clause (B)(y)(ii) shall be deemed breached if such documents are not
delivered to the Image File Custodian within one hundred eighty (180) days after the applicable Addition Date); and (II) in connection with any such delivery of one or more Imaged Files to the Image File Custodian, it shall specify (or
cause to be specified) the Loans to which such delivered Imaged Files relate; provided that the foregoing requirements shall not apply with respect to each Loan originated in electronic form. 

 

	 	23.	 (A) With respect to a Loan other than a 2021-1A SUBI Loan, the Loan
Purchase Agreement, all documents or instruments delivered pursuant to the Loan Purchase Agreement by or with reference to the Seller or any transaction under the Loan Purchase Agreement, including any Additional Loan Assignment and the assignment
agreement (the “Conveyance Papers”) and any statement, report or other document furnished pursuant to the Loan Purchase Agreement or during the Depositor’s due diligence with respect to the Loan Purchase Agreement and the Conveyance
Papers, including documents and information in magnetic or electronic form, are true and correct in all material respects and do not contain any untrue statement of fact by the Seller or omit to state a fact necessary to make the statements of the
Seller contained in the Loan Purchase Agreement or therein, in light of the circumstances under which such statements were made, not misleading, and (B) with respect to a 2021-1A SUBI Loan only, the 2021-1A SUBI Supplement and the 2021-1A SUBI Servicing Agreement, all documents or instruments delivered pursuant to the 2021-1A SUBI
Supplement and the 2021-1A SUBI Servicing Agreement by or with reference to the Servicer or any transaction under such agreements, including any allocation notice or reallocation notice and any statement,
report or other document furnished pursuant to such 2021-1A SUBI Supplement and the 2021-1A SUBI Servicing Agreement or during the Servicer’s due diligence with
respect to such agreement, including documents and information in magnetic or electronic form, are true and correct in all material respects and do not contain any untrue statement of fact by the Servicer or omit to state a fact necessary to make
the statements of the Servicer contained in either the 2021-1A SUBI Supplement and the 2021-1A SUBI Servicing Agreement or therein, in light of the circumstances under
which such statements were made, not misleading. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule IV - 5 

	 	24.	 (i) (x) The Loan Purchase Agreement creates a valid and continuing ownership or security interest (as
defined in the applicable UCC) in the 2021-1A SUBI Certificate and such Loan (other than a 2021-1A SUBI Loan) sold by the Seller in favor of the Depositor, which
security interest or ownership interest is prior to all other Liens (other than Permitted Liens), and is enforceable as such as against creditors of and purchasers from the Seller, and (y) with respect to a
2021-1A SUBI Loan only, the Transfer and Contribution Agreement creates a valid and continuing ownership or security interest (as defined in the applicable UCC) in such
2021-1A SUBI Loan transferred by Regional North Carolina to the North Carolina Trust, which security interest or ownership interest is prior to all other Liens (other than Permitted Liens), and is enforceable
as such as against creditors of and purchasers from Regional North Carolina; 

 (ii) such Loan
constitutes “tangible chattel paper,” “electronic chattel paper,” “payment intangibles,” “accounts,” “instruments” or “general intangibles” within the meaning of the UCC; 

(iii) (x) with respect to a Loan other than a 2021-1A SUBI Loan, the Seller owns
and has good and marketable title to such Loan and the related Purchased Assets sold by the Seller free and clear of any Lien, claim or encumbrance of any Person and (y) with respect to a 2021-1A SUBI
Loan, the North Carolina Trust owns and has good and marketable title to such 2021-1A SUBI Loan, free and clear of any Lien, claim or encumbrance of any Person (in each case, other than any Permitted Liens);

 (iv) it has received all consents and approvals to the sale of each Loan required by the terms of the applicable
Contract to the extent that it constitutes an instrument; 
 (v) it has caused or will cause, within ten (10) days
after the Closing Date, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of and the security interest in the Purchased Assets sold by
the Seller to the Depositor (or with respect to the 2021-1A SUBI Loans, the 2021-1A SUBI Assets contributed by Regional North Carolina to the North Carolina Trust), and
if any additional such filing is necessary in connection with any transfer of Additional Loans, it will cause such filings to be made within ten (10) days of the applicable Addition Date; all such financing statements referred to in this
paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Secured Party/Purchaser”; 

(vi)    (a) other than the security interest granted and the conveyance to the Depositor pursuant to the
Loan Purchase Agreement, it has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any Purchased Assets sold by the Seller (other than any such pledge, assignment, sale, grant or conveyance that is no longer
effective); and 
 (b) it has not authorized the filing of, and is not aware of, any financing statements
against the Seller that include a description of collateral covering any Loans other than any financing statement (1) relating to the conveyance of the Loans by the Warehouse Borrower to the Seller under the Purchase Agreement,
(2) relating to the conveyance of Loans by a borrower under a warehouse facility pursuant to an Other Warehouse Purchase Agreement, if applicable, (3) relating to the conveyance of Loans by a Regional Originator to the Seller under the
Omnibus Distribution and Assignment Agreement, (4) relating to the conveyance of the 2021-1A SUBI Certificate by Regional North Carolina to the Seller under the SUBI Certificate Purchase Agreement,
(5) relating to the pledge of the 2021-1A SUBI Assets by each of the North Carolina Trust and the Issuer to the Indenture Trustee, (6) relating to the conveyance of the
2021-1A SUBI Certificate and the Loans (other than the 2021-1A SUBI Loans) by the Seller to the Depositor pursuant to the Loan Purchase Agreement, (7) relating to
the conveyance of the Loans (other than the 2021-1A SUBI Loans) by the Depositor to the Issuer pursuant to the Sale and Servicing Agreement, (8) relating to the security interest granted to the Indenture
Trustee under the Indenture or (9) that has been terminated; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule IV - 6 

 (vii) it is not aware of any material judgment, ERISA or tax lien filings
against it; 
 (viii) the Seller (or any Affiliate thereof) has in its possession all original copies (except in the case
of Convenience Checks) of the instruments and tangible chattel paper that constitute or evidence each Loan sold by it (or in the case of a 2021-1A SUBI Loan, allocated to the
2021-1A SUBI); and none of the tangible chattel paper that constitute or evidence such Loan has any stamps, marks or notations indicating that such Loan has been pledged, assigned or otherwise conveyed to any
Person other than the Seller, the North Carolina Trust, the Depositor, the Issuer or the Indenture Trustee, other than any such stamps, marks or notations that relate to a pledge, assignment, conveyance or other interest that has been cancelled,
terminated or voided (or if such stamp, mark or notation is in the name of an agent (or any predecessor agent) under the ABL Facility, the Issuer has the right to cancel or void such stamp, mark or notation without the consent of such agent (or any
predecessor agent, as applicable), and such agent (or any predecessor agent, as applicable) has released in writing its lien on such Contract); and 

(ix) to the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, there is only one single
Authoritative Copy of each electronic “record” constituting or evidencing a Contract that is Electronic Chattel Paper, the record or records composing the Electronic Chattel Paper are created, stored and assigned in such a manner that
(A) a single authoritative copy of the record or records exists which is unique, identifiable and unalterable (other than a revision that is readily identifiable as an authorized or unauthorized revision), (B) each copy of the authoritative
copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy, (C) the authoritative copy has been communicated to and is maintained by the Electronic Vault Provider as a designated custodian of the Indenture
Trustee, (D) all copies or revisions that add or change an identified assignee of the Authoritative Copy of such Contract that constitutes or evidences the Loan must be made with the participation of the Indenture Trustee, and (E) such
Authoritative Copy identifies only the Indenture Trustee as the assignee. To the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, none of the Seller, the North Carolina Trust, the Servicer (including in its capacity
as 2021-1A SUBI Servicer), the Electronic Vault Provider nor any other Person has communicated an Authoritative Copy of such Contract that constitutes or evidences the Loan to any Person other than the
Electronic Vault Provider as a designated custodian of the Indenture Trustee pursuant to the terms of the Sale and Servicing Agreement and the Electronic Collateral Control Agreement from and after the Closing Date or the applicable Addition Date.

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Schedule IV - 7 

 Exhibit A-1 

Form of Initial Loan Assignment 

This INITIAL LOAN ASSIGNMENT (this “Agreement”), dated February 18, 2021, is by Regional Management
Receivables III, LLC, a Delaware limited liability company (the “Assignor”), in favor of Regional Management Issuance Trust 2021-1, a Delaware statutory trust (the
“Assignee”). Capitalized terms used herein but not defined shall have the meaning ascribed to such terms in the Sale and Servicing Agreement, dated as of February 18, 2021 (the “Sale and Servicing Agreement”)
among the Assignor, the Assignee, the North Carolina Trust, Regional Management Corp., as Servicer, the Subservicers party thereto and Wells Fargo Bank, National Association, as Image File Custodian. 

For good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto hereby
agree as follows: 
 In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby
confirm the sale, transfer, conveyance and assignment to the Assignee of all of the right, title and interest of the Assignor, as Purchaser, in, to and under the Loans identified on Schedule A (the “Initial Assigned Loans”) and the
other Sold Assets related thereto. The Cut-Off Date for the Initial Assigned Loans is December 31, 2020. 

The Assignor specifically reserve and do not confirm the assignment to the Assignee hereunder of any of their rights, title
or interest in, to and under, and all obligations of the Assignor with respect to, any loans which are not the initial Loans set forth on Schedule A and are not the subject of this Agreement. 

Schedule A hereto includes the information with respect to the initial Loans required to be included in the Loan Schedule to
be delivered under the Sale and Servicing Agreement on the Closing Date. 
 The Owner Trustee is executing this Agreement
not in its individual capacity, but solely as Owner Trustee on behalf of the Issuer and, accordingly, the Owner Trustee shall incur no personal liability in connection herewith or the transactions contemplated hereby. 

[Signature Page Follows] 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit A-1 – 1 

 IN WITNESS WHEREOF, the parties have caused this Initial Loan Assignment to
be executed by their duly authorized officers as of the date first above written. 
  

			
	ASSIGNOR:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
	
	By:                                   
                                     
	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
	
	ASSIGNEE:
	
	REGIONAL MANAGEMENT ISSUANCE
	TRUST 2021-1, as Issuer
	
	By: WILMINGTON TRUST, NATIONAL
	ASSOCIATION, not in its individual capacity, but
	solely as Owner Trustee of the Issuer
	
	By:                                   
                     
	Name:
	Title:

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit A-1 – 2 

 Schedule A 

Loan Schedule 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Exhibit A-1 – 3 

 Exhibit A-2 

Form of Additional Loan Assignment 

This ADDITIONAL LOAN ASSIGNMENT (this “Agreement”), dated as of [the applicable Addition Date] (the
“Addition Date”), is by Regional Management Receivables III, LLC, a Delaware limited liability company (the “Assignor”), in favor of Regional Management Issuance Trust 2021-1,
a Delaware statutory trust (the “Assignee”). Capitalized terms used herein but not defined shall have the meaning ascribed to such terms in the Sale and Servicing Agreement, dated as of February 18, 2021 (the “Sale and
Servicing Agreement”) among the Assignor, the Assignee, the North Carolina Trust, Regional Management Corp., as Servicer, the Subservicers party thereto and Wells Fargo Bank, National Association, as Image File Custodian. 

For good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto hereby
agree as follows: 
 In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby
confirms the sale, transfer, conveyance and assignment to the Assignee all of the right, title and interest of the Assignor, as Purchasers, in, to and under the Additional Loans identified on Schedule A (the “Assigned Additional
Loans”) and the other Sold Assets related thereto. The Cut-Off Date for the Assigned Additional Loans is
[                    ]. 

The Assignor specifically reserve and do not confirm the assignment to the Assignee hereunder any of its right, title or
interest in, to and under and all obligations of the Assignor with respect to any loans which are not the Additional Loans set forth on Schedule A and are not the subject of this Agreement. 

Schedule A hereto includes the information required to be included in the Loan Schedule with respect to the Assigned
Additional Loans and the Loan Schedule is hereby supplemented to include the Assigned Additional Loans and other information included in Schedule A. 

[Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) - Exhibit A-2 – 1 

 IN WITNESS WHEREOF, the parties have caused this Additional Loan Assignment
to be executed by their duly authorized officers as of the date first above written. 
  

			
	ASSIGNOR:
	
	 REGIONAL MANAGEMENT RECEIVABLES

III, LLC, as Depositor

	
	By:                                   
                                     
	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
	
	ASSIGNEE:
	
	 REGIONAL MANAGEMENT ISSUANCE
 TRUST 2021-1, as Issuer

	
		
	By:	 	REGIONAL MANAGEMENT CORP.,
		 	as Administrator
	
	By:                                   
                             
	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) – Exhibit A-2 – 2 

 SCHEDULE A 

LOAN SCHEDULE 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) – Exhibit A-2 – 3 

 EXHIBIT B 

FORM OF ANNUAL COMPLIANCE CERTIFICATE 

The undersigned, the duly [OFFICER TITLE] of
(“[                    ]”), does hereby certify that: 

(1)    [             
       ] is, as of the date hereof, the Servicer under that certain Sale and Servicing Agreement, dated as of February 18, 2021 (as amended and supplemented, or otherwise modified and in effect from time to
time, the “Sale and Servicing Agreement”) among the Assignor, the Assignee, the North Carolina Trust, Regional Management Corp., as Servicer, the Subservicers party thereto and Wells Fargo Bank, National Association, as Image File
Custodian. 
 (2)    The undersigned is an Authorized Officer of the Servicer and
is duly authorized pursuant to the Sale and Servicing Agreement to execute and deliver this Officer’s Certificate to the Issuer, each Rating Agency and the Indenture Trustee. 

(3)    A review of the activities of the Servicer during preceding calendar year and of
its performance under the Sale and Servicing Agreement was conducted under my supervision. 

(4)    Based on such review, the Servicer has, to the best of my knowledge, performed in
all material respects all of its obligations under the Sale and Servicing Agreement and other Transaction Documents throughout such year and no Servicer Default has occurred and is continuing, except as set forth in paragraph 5 below. 

(5)    The following is a description of each Servicer Default known to me to have
occurred and be continuing as of the date of this Officer’s Certificate made by the Servicer during the calendar year ended December 31,             , which sets forth in
detail the (a) nature of each such Servicer Default, (b) the action taken by the Servicer, if any, to remedy each such Servicer Default and (c) the current status of each such Servicer Default: (If applicable, insert
“None.”) 
 Capitalized terms used but not defined herein are used as defined in the Sale and Servicing
Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2021-1) – Exhibit B- 1 

 IN WITNESS WHEREOF, each of the undersigned has duly executed this
Officer’s Certificate this      day of
                    .1 

 

			
	
                   
                                         
                                    

		
	 By:
	 	                                    
                                         
           
		 	
Name:                  
                                         
                   

		 	
Title:                  
                                         
                     

  
  
  

 

                       
                      
  

	1 	 Required to be delivered on or before March 31 of each calendar year, beginning with March 31, 2022
pursuant to Section 3.07 of the Sale and Servicing Agreement. 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit B- 2 

 EXHIBIT C 

FORM OF LOAN REASSIGNMENT 

This LOAN REASSIGNMENT (this “Agreement”) dated as of [date of applicable Document Delivery Date], by
Regional Management Issuance Trust 2021-1, a Delaware statutory trust (the “Assignor”), in favor of Regional Management Receivables III, LLC, a Delaware limited liability company (the
“Assignee”). Capitalized terms used herein but not defined shall have the meaning ascribed to such terms in the Sale and Servicing Agreement, dated as of February 18, 2021 (the “Sale and Servicing Agreement”)
among the Assignor, the Assignee, the North Carolina Trust, Regional Management Corp., as Servicer, the Subservicers party thereto and Wells Fargo Bank, National Association, as Image File Custodian. 

For good and valuable consideration, the Assignor hereby agrees as follows: 

In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby grants, transfers and
assigns to the Assignee all of the right, title and interest of the Assignor in, to and under (i) the Loans identified on Schedule A (the “Reassigned Loans”), (ii) the Purchased Assets related thereto, (iii) the right to receive
all Collections with respect to the Purchased Assets after the date hereof, and (iv) all proceeds thereof. 
 The
Assignee hereby accepts such assignment and shall deliver to or at the direction of the Assignor the consideration identified in the preceding paragraph. 

Notwithstanding anything to the contrary herein, in no event shall any Loans or related Purchased Assets be transferred from
the Assignor to the Assignee pursuant to this Agreement unless such Loans and related Purchased Assets have been released from the lien of the Indenture in accordance with the terms thereof. 

The Assignor specifically reserves and does not assign to the Assignee hereunder any of its right, title or interest in, to
and under and all obligations of the Assignor with respect to any Loans which are not the Reassigned Loans set forth on Schedule A and are not the subject of this Agreement. 

The Owner Trustee is executing this Agreement not in its individual capacity, but solely as Owner Trustee on behalf of the
Issuer and, accordingly, the Owner Trustee shall incur no personal liability in connection herewith or the transactions contemplated hereby. 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit C- 1 

 IN WITNESS WHEREOF, the parties have caused this Loan Reassignment to be
executed by their duly authorized officers as of the date first above written. 
  

			
	ASSIGNOR:

 
			
	
	REGIONAL MANAGEMENT ISSUANCE TRUST 2021-1, as Issuer

 
			
	
	 By:  REGIONAL MANAGEMENT CORP., as
Administrator

 
			
	
	By:                                   
                             
	 Name:  Harpreet Rana

	 Title:   Executive Vice President and Chief Financial
Officer

 
			
	
	ASSIGNEE:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor

 
			
		
	By:	 	
                     
                   

	Name: Harpreet Rana
	Title:   Executive Vice President and Chief
	            Financial Officer

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit C- 2 

 SCHEDULE A 

LOAN SCHEDULE 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit C- 3 

 EXHIBIT D 

FORM OF ACCESSION AGREEMENT 

THIS ACCESSION AGREEMENT dated as of [        ]
[    ], [        ] (this “Agreement”) is by and among
                                         
                   , a
                                        
(the “Company”), and Regional Management Receivables III, LLC (the “Depositor”). 

Reference is made to the Sale and Servicing Agreement, dated as of February 18, 2021 (as amended, restated, modified or
supplemented from time to time, the “Sale and Servicing Agreement”), among the Depositor, Regional Management Corp., as Servicer, the Subservicers party thereto, the North Carolina Trust and Regional Management Issuance Trust 2021-1, as Issuer. 
 Capitalized terms used herein without definition shall have the
meanings given to them in the Sale and Servicing Agreement. 
 Pursuant to Section 10.19 of the Sale and Servicing
Agreement, an Affiliate of Regional Management may be added as a party to the Sale and Servicing Agreement as a Subservicer upon satisfaction of the conditions set forth in the Sale and Servicing Agreement, including the delivery to the Indenture
Trustee of a fully executed copy of this Agreement. 
 In connection therewith: 

1.        The Company hereby joins in and agrees to be bound by and to comply with
each and every provision of the Sale and Servicing Agreement as a Subservicer thereunder. 

2.        The Company hereby represents and warrants that each representation and
warranty contained in Section 3.03 of the Sale and Servicing Agreement is true and correct with respect to the Company as of the date of this Agreement, as if such representations and warranties were set forth at length herein. 

3.        This Accession Agreement shall be a Transaction Document, shall be binding
upon and enforceable against the Company and its successors and assigns, and shall inure to the benefit of and be enforceable by the Depositor and its assigns. 

[Signature Page Follows] 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit D- 1 

 IN WITNESS WHEREOF, each party hereto has caused this Accession Agreement
to be executed by its duly authorized officer as of the date first above written. 
  

			
	[NAME OF COMPANY]
	
	By:                                  
                                         
 
	Name:
	Title:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
	
	By:                                  
                                         
 
	Name:	 	Harpreet Rana
	Title:	 	Executive Vice President and Chief
		 	Financial Officer

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit D- 2 

 EXHIBIT E 

CONDITIONS TO ACCESSION 

The Depositor shall have received each of the following in form and substance satisfactory to the Depositor and any assignee
thereof: 
 (i)     a fully-executed copy of an Accession Agreement with respect to
the Additional Subservicer; 
 (ii)     a certificate of the Secretary or Assistant
Secretary of the Additional Subservicer, dated the date of the proposed Accession, certifying (a) the names and true signatures of the incumbent officers of the Additional Subservicer authorized to sign on behalf of the Additional Subservicer
this Agreement Agreements and all other documents to be executed by the Additional Subservicer hereunder or in connection herewith, (b) that the copy of the certificate of formation or articles of incorporation of the Additional Subservicer, as
applicable, is a complete and correct copy and that such certificate of formation or articles of incorporation have not been amended, modified or supplemented and are in full force and effect, (c) that the copy of the limited liability company
agreement or by-laws, as applicable, of the Additional Subservicer are a complete and correct copy, and that such limited liability company agreement or by-laws have not
been amended, modified or supplemented and are in full force and effect, and (d) the resolutions of the board of directors or board of managers of the Additional Subservicer approving and authorizing the execution, delivery and performance by
the Additional Subservicer of this Agreement and all other documents to be executed by the Additional Subservicer hereunder or in connection herewith; 

(iii)     a good standing certificate for the Additional Subservicer, dated as of a
recent date, issued by the Secretary of State of the Additional Subservicer’s State of formation or incorporation, as applicable; 

(iv)     an Opinion of Counsel from counsel to the Additional Subservicer with
respect to corporate matters; 
 (v)     an Opinion of Counsel from counsel to the
Additional Subservicer with respect to the true sale of Loans sold by the Additional Subservicer and the non consolidation of the Additional Subservicer with the Depositor; and 

(vi)     an Officer’s Certificate stating that all conditions precedent to the
effectiveness of such Accession are satisfied. 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit E- 1 

 EXHIBIT F 

RULE 15GA-1 INFORMATION 

Reporting Period: 
 ☐    Check here if
nothing to report. 
  

																													
	 Asset    

Class    
	  	Shelf    	  	
Series    

Name    
	  	CIK    	  	Originator    	  	
Loan    

No    
	  	
Servicer    

Loan No    
	  	
Outstanding    

Principal    

Balance    
	  	
Repurchasing    

Type    
	  	 Indicate
Repurchase Activity During the Reporting Period by Checkmark or by Date
 Reference (as Applicable)

	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	Subject to    
Demand    	  	Repurchased    

or Replaced    
	  	Repurchase    

Pending    
	  	Demand    

in Dispute    
	  	Demand    

Withdrawn    
	  	Demand    

Rejected    

 TERMS AND DEFINITIONS 

NOTE: Any date included on this report is subject to the descriptions below. Dates referenced on this report for this
Transaction where the Servicer is not the Repurchase Enforcer (as defined below), availability of such information may be dependent upon information received from other parties. 

References to “Repurchaser” shall mean the party obligated under the Transaction Documents to repurchase a
Loan. References to “Repurchase Enforcer” shall mean the party obligated under the Transaction Documents to enforce the obligations of any Repurchaser. 

Outstanding Principal Balance: For purposes of this report, the Outstanding Principal Balance of a Loan in this
Transaction equals the remaining outstanding principal balance of the Loan reflected on the distribution or payment reports at the end of the related reporting period, or if the Loan has been liquidated prior to the end of the related reporting
period, the final outstanding principal balance of the Loan reflected on the distribution or payment reports prior to liquidation. 

Subject to Demand: The date when a demand for repurchase is identified and coded by the Servicer or Indenture Trustee
as a repurchase related request. 
 Repurchased or Replaced: The date when a Loan is repurchased or replaced. To the
extent such date is unavailable, the date upon which the Servicer or Indenture Trustee obtained actual knowledge a Loan has been repurchased or replaced. 

Repurchase Pending: A Loan is identified as “Repurchase Pending” when a demand notice is sent by the
Indenture Trustee, as Repurchase Enforcer, to the Repurchaser. A Loan remains in this category until (i) a Loan has been Repurchased, (ii) a request is determined to be a “Demand in Dispute,” (iii) a request is determined
to be a “Demand Withdrawn,” or (iv) a request is determined to be a “Demand Rejected.” 

With respect to the Servicer only, a Loan is identified as “Repurchase Pending” on the date (y) the Servicer
sends notice of any request for repurchase to the related Repurchase Enforcer, or (z) the Servicer receives notice of a repurchase request but determines it is not required to take further action regarding such request pursuant to its
obligations under the applicable Transaction Documents. The Loan will remain in this category until the Servicer receives actual knowledge from the related Repurchase Enforcer, Repurchaser, or other party, that the repurchase request should be
changed to “Demand in Dispute”, “Demand Withdrawn”, “Demand Rejected”, or “Repurchased.” 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit F- 1 

 Demand in Dispute: Occurs (i) when a response is received from
the Repurchaser which refutes a repurchase request, or (ii) upon the expiration of any applicable cure period. 

Demand Withdrawn: The date when a previously submitted repurchase request is withdrawn by the original requesting
party. To the extent such date is not available, the date when the Servicer or the Indenture Trustee receives actual knowledge of any such withdrawal. 

Demand Rejected: The date when the Indenture Trustee, as Repurchase Enforcer, has determined that it will no longer
pursue enforcement of a previously submitted repurchase request. To the extent such date is not otherwise available, the date when the Servicer receives actual knowledge from the Indenture Trustee, as Repurchase Enforcer that it has determined not
to pursue a repurchase request. 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit F- 2 

 EXHIBIT G 

LIMITED POWER OF ATTORNEY 

REGIONAL MANAGEMENT ISSUANCE TRUST 2021-1 (the “Grantor”),
hereby makes, constitutes and appoints each of Regional Management Corp., a Delaware corporation (the “Servicer”) and Regional Finance Corporation of Alabama, an Alabama corporation, Regional Finance Company of Georgia, LLC, a
Delaware limited liability company, Regional Finance Company of Missouri, LLC, a Delaware limited liability company, Regional Finance Company of New Mexico, LLC, a Delaware limited liability company, Regional Finance Corporation of North Carolina, a
North Carolina corporation, Regional Finance Company of Oklahoma, LLC, a Delaware limited liability company, Regional Finance Corporation of South Carolina, a South Carolina corporation, Regional Finance Corporation of Tennessee, a Tennessee
corporation, Regional Finance Corporation of Texas, a Texas corporation, Regional Finance Company of Virginia, LLC, a Delaware limited liability company, and Regional Finance Corporation of Wisconsin, a Wisconsin corporation (collectively, the
“Subservicers”) (each Subservicer and the Servicer individually and collectively, the “Grantee”), by and through themselves, their affiliates and their permitted subcontractors, and their respective officers,
designees and attorneys-in-fact, its true and lawful Attorneys-in-Fact with full power of
substitution, and hereby authorizes and empowers each Grantee, in the name of and on behalf of the Grantor, to have full power and authority to take any and all lawful acts which it may deem necessary or desirable to effect the servicing and
administration of the Loans pursuant to the Sale and Servicing Agreement, dated as of February 18, 2021, among the Grantor, as Issuer, Regional Management Receivables III, LLC, as Depositor, the Servicer, the Subservicers and the North Carolina
Trust, acting thereunder solely with respect to the 2021-1A SUBI (the “Sale and Servicing Agreement”), including, but not limited to: 

(i)     Collecting amounts payable under the Loans, 

(ii)     Bringing legal actions, enforcing legal prosecution of claims and pursuing
any other appropriate remedies in connection with the servicing and administration of the Loans, and 

(iii)     Signing, executing, acknowledging, delivering, filing for record and/or
recording on behalf of the Grantor all such documents, reports, filings, instruments, certificates and opinions required in connection with the foregoing, including, without limitation, notices, proofs of claim, affidavits, sworn statements, agreed
orders, stipulations, modification agreements, subordination agreements, endorsements, allonges, assignments, and cancellations of promissory notes or other instruments evidencing secured or unsecured indebtedness; and assignments, full and partial
releases, and terminations of UCC financing statements, motor vehicle liens, or other evidence or instrument of lien or security, 
 in each
case, to the extent the Servicer or any Subservicer is authorized to take such action pursuant to the Sale and Servicing Agreement. 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit G- 1 

 The power herein granted to the Attorney-in-Fact shall include the power to name itself as grantee, assignee, or beneficiary of said instrument or act. 

The Grantor gives said Attorney-in-Fact full
power and authority to execute such instruments and to do and perform all and every act and thing necessary and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the Grantor might or could
do, and hereby does ratify and confirm all that said Attorney-in-Fact shall lawfully do or cause to be done by authority hereof. 

Third parties without actual notice may rely upon the exercise of the power granted under this Limited Power of Attorney, and
may be satisfied that this Limited Power of Attorney shall continue in full force and effect and has not been revoked unless an instrument of revocation has been made in writing by the Grantor. Capitalized terms used herein but not defined shall
have the meanings set forth in the Sale and Servicing Agreement. 
 The Owner Trustee is executing this Agreement not in
its individual capacity, but solely as Owner Trustee on behalf of the Issuer and, accordingly, the Owner Trustee shall incur no personal liability in connection herewith or the transitions contemplated hereby. 

[Remainder of Page Intentionally Left Blank] 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit G- 2 

 IN WITNESS WHEREOF, this Power of Attorney is executed by Grantor as of the
date first above written. 
  

	
	REGIONAL MANAGEMENT ISSUANCE
	TRUST 2021-1, as Issuer
	
	By: WILMINGTON TRUST, NATIONAL
	ASSOCIATION, not in its individual capacity, but solely as Owner Trustee of the Issuer
	
	By:                                     
                       
	Name:
	Title:

  

			
	 STATE OF
  

COUNTY OF
	  	 }
 }ss.:

}

 On this      day of
                                , 2021, before me, the under-signed officer,
personally appeared
                                         
               , and acknowledged that he or she, as such
                                         
    [title of officer] on behalf of Wilmington Trust, National Association, solely in its capacity as Owner Trustee, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the
name of the Owner Trustee by himself or herself as
                                        .

 In witness whereof I hereunto set my hand and official seal. 

 

	
	  
 Notary
Public

 [Notarial Seal] 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit G- 3 

 EXHIBIT H 

System Description 
 [On
file with the Indenture Trustee] 

  
 SALE AND SERVICING
AGREEMENT (RMIT 2021-1) – Exhibit H- 1Document

Oportun Financial Corporation
2019 Equity Incentive Plan
Adopted by the Compensation and Leadership Committee of the Board of Directors:  September 16, 2019
Approved by the Stockholders:  September 16, 2019

Table of Contents

Page

						
	1.    General.
	1

	2.    Shares Subject to the Plan.
	1

	3.    Eligibility and Limitations.
	2

	4.    Options and Stock Appreciation Rights.
	3

	5.    Awards Other Than Options and Stock Appreciation Rights.
	7

	6.    Adjustments upon Changes in Common Stock; Other Corporate Events.
	9

	7.    Administration.
	11

	8.    Tax Withholding
	14

	9.    Miscellaneous.
	15

	10.    Covenants of the Company.
	18

	11.    Additional Rules for Awards Subject to Section 409A.
	18

	12.    Severability.
	21

	13.    Termination of the Plan.
	22

	14.    Definitions.
	23

									
		1.
	

1.    General.
(a)    Successor to and Continuation of Prior Plan.  The Plan is the successor to and continuation of the Prior Plan.  As of the Effective Date, (i) no additional awards may be granted under the Prior Plan; (ii) the Prior Plan’s Available Reserve plus any Returning Shares will become available for issuance pursuant to Awards granted under this Plan; and (iii) all outstanding awards granted under the Prior Plan will remain subject to the terms of the Prior Plan (except to the extent such outstanding awards result in Returning Shares that become available for issuance pursuant to Awards granted under this Plan).  All Awards granted under this Plan will be subject to the terms of this Plan.
(b)    Plan Purpose.  The Company, by means of the Plan, seeks to secure and retain the services of Employees, Directors and Consultants, to provide incentives for such persons to exert maximum efforts for the success of the Company and any Affiliate and to provide a means by which such persons may be given an opportunity to benefit from increases in value of the Common Stock through the granting of Awards.
(c)    Available Awards.  The Plan provides for the grant of the following Awards: (i) Incentive Stock Options; (ii) Nonstatutory Stock Options; (iii) SARs; (iv) Restricted Stock Awards; (v) RSU Awards; (vi) Performance Awards; and (vii) Other Awards.
(d)    Adoption Date; Effective Date.  The Plan will come into existence on the Adoption Date, but no Award may be granted prior to the Effective Date.  
2.    Shares Subject to the Plan.
(a)    Share Reserve.  Subject to adjustment in accordance with Section 2(c) and any adjustments as necessary to implement any Capitalization Adjustments, the aggregate number of shares of Common Stock that may be issued pursuant to Awards will not exceed 7,469,664 shares, which number is the sum of: (i) 781,937 new shares, plus (ii) the Prior Plan’s Available Reserve; plus, (iii) the number of Returning Shares, if any, as such shares become available from time to time.
In addition, subject to any adjustments as necessary to implement any Capitalization Adjustments, such aggregate number of shares of Common Stock will automatically increase on January 1 of each year for a period of ten years commencing on January 1, 2020 and ending on (and including) January 1, 2029, in an amount equal to 5%) of the total number of shares of Common Stock outstanding on December 31 of the preceding year; provided, however that the Board may act prior to January 1st of a given year to provide that the increase for such year will be a lesser number of shares of Common Stock.
(b)    Aggregate Incentive Stock Option Limit.  Notwithstanding anything to the contrary in Section 2(a) and subject to any adjustments as necessary to implement any Capitalization Adjustments, the aggregate maximum number of shares of Common Stock that may be issued pursuant to the exercise of Incentive Stock Options is 22,408,992 shares.
(c)    Share Reserve Operation.
(i)    Limit Applies to Common Stock Issued Pursuant to Awards.  For clarity, the Share Reserve is a limit on the number of shares of Common Stock that may be issued pursuant to Awards and does not limit the granting of Awards, except that the Company will keep available at all times the number of shares of Common Stock reasonably required to satisfy its obligations to issue shares pursuant to such Awards.  Shares may be issued in connection with a merger or acquisition as permitted by, as applicable, Nasdaq Listing Rule 5635(c), NYSE Listed Company Manual Section 303A.08, NYSE American Company Guide Section 711 or other applicable rule, and such issuance will not reduce the number of shares available for issuance under the Plan.  
(ii)    Actions that Do Not Constitute Issuance of Common Stock and Do Not Reduce Share Reserve.  The following actions do not result in an issuance of shares under the Plan and accordingly do not reduce the number of shares subject to the Share Reserve and available for issuance under the Plan:  (1) the expiration or termination of any portion of an Award without the shares covered by such portion of the Award having been issued, (2) the settlement of any portion of an Award in cash (i.e., the Participant receives cash rather than Common Stock), (3) the withholding of shares that would otherwise be issued by the Company to satisfy the exercise, strike or purchase price of an Award; (4) the withholding of shares that would otherwise be issued by the Company to satisfy a tax withholding obligation in connection with an Award.
(iii)    Reversion of Previously Issued Shares of Common Stock to Share Reserve.  The following shares of Common Stock previously issued pursuant to an Award and accordingly initially deducted from the Share Reserve 

will be added back to the Share Reserve and again become available for issuance under the Plan: (1) any shares that are forfeited back to or repurchased by the Company because of a failure to meet a contingency or condition required for the vesting of such shares; (2) any shares that are reacquired by the Company to satisfy the exercise, strike or purchase price of an Award; and (3) any shares that are reacquired by the Company to satisfy a tax withholding obligation in connection with an Award. 
3.    Eligibility and Limitations.
(a)    Eligible Award Recipients.  Subject to the terms of the Plan, Employees, Directors and Consultants are eligible to receive Awards.  
(b)    Specific Award Limitations.  
(i)    Limitations on Incentive Stock Option Recipients.  Incentive Stock Options may be granted only to Employees of the Company or a “parent corporation” or “subsidiary corporation” thereof (as such terms are defined in Sections 424(e) and (f) of the Code).
(ii)    Incentive Stock Option $100,000 Limitation.  To the extent that the aggregate Fair Market Value (determined at the time of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and any Affiliates) exceeds $100,000 (or such other limit established in the Code) or otherwise does not comply with the rules governing Incentive Stock Options, the Options or portions thereof that exceed such limit (according to the order in which they were granted) or otherwise do not comply with such rules will be treated as Nonstatutory Stock Options, notwithstanding any contrary provision of the applicable Option Agreement(s).
(iii)    Limitations on Incentive Stock Options Granted to Ten Percent Stockholders.  A Ten Percent Stockholder may not be granted an Incentive Stock Option unless (i) the exercise price of such Option is at least 110% of the Fair Market Value on the date of grant of such Option and (ii) the Option is not exercisable after the expiration of five years from the date of grant of such Option.
(iv)    Limitations on Nonstatutory Stock Options and SARs.  Nonstatutory Stock Options and SARs may not be granted to Employees, Directors and Consultants who are providing Continuous Service only to any “parent” of the Company (as such term is defined in Rule 405) unless the stock underlying such Awards is treated as “service recipient stock” under Section 409A because the Awards are granted pursuant to a corporate transaction (such as a spin off transaction) or unless such Awards otherwise comply with the distribution requirements of Section 409A.
(c)    Aggregate Incentive Stock Option Limit.  The aggregate maximum number of shares of Common Stock that may be issued pursuant to the exercise of Incentive Stock Options is the number of shares specified in Section 2(b).
(d)     Non-Employee Director Compensation Limit.  The aggregate value of all compensation granted or paid, as applicable, to any individual for service as a Non-Employee Director with respect to any calendar year, including Awards granted and cash fees paid by the Company to such Non-Employee Director, will not exceed (i) $600,000  in total value or (ii) in the event such Non-Employee Director is first appointed or elected to the Board during such calendar year, $1,200,000 in total value, in each case calculating the value of any equity awards based on the grant date fair value of such equity awards for financial reporting purposes.
4.    Options and Stock Appreciation Rights.
Each Option and SAR will have such terms and conditions as determined by the Board.  Each Option will be designated in writing as an Incentive Stock Option or Nonstatutory Stock Option at the time of grant; provided, however, that if an Option is not so designated, then such Option will be a Nonstatutory Stock Option, and the shares purchased upon exercise of each type of Option will be separately accounted for.  Each SAR will be denominated in shares of Common Stock equivalents.  The terms and conditions of separate Options and SARs need not be identical; provided, however, that each Option Agreement and SAR Agreement will conform (through incorporation of provisions hereof by reference in the Award Agreement or otherwise) to the substance of each of the following provisions:
(a)    Term.  Subject to Section 3(b) regarding Ten Percent Stockholders, no Option or SAR will be exercisable after the expiration of ten years from the date of grant of such Award or such shorter period specified in the Award Agreement.

(b)    Exercise or Strike Price.  Subject to Section 3(b) regarding Ten Percent Stockholders, the exercise or strike price of each Option or SAR will not be less than 100% of the Fair Market Value on the date of grant of such Award.  Notwithstanding the foregoing, an Option or SAR may be granted with an exercise or strike price lower than 100% of the Fair Market Value on the date of grant of such Award if such Award is granted pursuant to an assumption of or substitution for another option or stock appreciation right pursuant to a Corporate Transaction and in a manner consistent with the provisions of Sections 409A and, if applicable, 424(a) of the Code.  
(c)    Exercise Procedure and Payment of Exercise Price for Options.  In order to exercise an Option, the Participant must provide notice of exercise to the Plan Administrator in accordance with the procedures specified in the Option Agreement or otherwise provided by the Company. The Board has the authority to grant Options that do not permit all of the following methods of payment (or otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to utilize a particular method of payment.  The exercise price of an Option may be paid, to the extent permitted by Applicable Law and as determined by the Board, by one or more of the following methods of payment to the extent set forth in the Option Agreement:
(i)    by cash or check, bank draft or money order payable to the Company;
(ii)    pursuant to a “cashless exercise” program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of the Common Stock subject to the Option, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the exercise price to the Company from the sales proceeds;
(iii)    by delivery to the Company (either by actual delivery or attestation) of shares of Common Stock that are already owned by the Participant free and clear of any liens, claims, encumbrances or security interests, with a Fair Market Value on the date of exercise that does not exceed the exercise price, provided that (1) at the time of exercise the Common Stock is publicly traded, (2) any remaining balance of the exercise price not satisfied by such delivery is paid by the Participant in cash or other permitted form of payment, (3) such delivery would not violate any Applicable Law or agreement restricting the redemption of the Common Stock, (4) any certificated shares are endorsed or accompanied by an executed assignment separate from certificate, and (5) such shares have been held by the Participant for any minimum period necessary to avoid adverse accounting treatment as a result of such delivery; 
(iv)    if the Option is a Nonstatutory Stock Option, by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Common Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value on the date of exercise that does not exceed the exercise price, provided that (1) such shares used to pay the exercise price will not be exercisable thereafter and (2) any remaining balance of the exercise price not satisfied by such net exercise is paid by the Participant in cash or other permitted form of payment; or
(v)    in any other form of consideration that may be acceptable to the Board and permissible under Applicable Law.
(d)    Exercise Procedure and Payment of Appreciation Distribution for SARs.  In order to exercise any SAR, the Participant must provide notice of exercise to the Plan Administrator in accordance with the SAR Agreement.  The appreciation distribution payable to a Participant upon the exercise of a SAR will not be greater than an amount equal to the excess of (i) the aggregate Fair Market Value on the date of exercise of a number of shares of Common Stock equal to the number of Common Stock equivalents that are vested and being exercised under such SAR, over (ii) the strike price of such SAR.  Such appreciation distribution may be paid to the Participant in the form of Common Stock or cash (or any combination of Common Stock and cash) or in any other form of payment, as determined by the Board and specified in the SAR Agreement.
(e)    Transferability.  Options and SARs may not be transferred to third party financial institutions for value.  The Board may impose such additional limitations on the transferability of an Option or SAR as it determines.  In the absence of any such determination by the Board, the following restrictions on the transferability of Options and SARs will apply, provided that except as explicitly provided herein, neither an Option nor a SAR may be transferred for consideration and provided, further, that if an Option is an Incentive Stock Option, such Option may be deemed to be a Nonstatutory Stock Option as a result of such transfer:
(i)    Restrictions on Transfer.  An Option or SAR will not be transferable, except by will or by the laws of descent and distribution, and will be exercisable during the lifetime of the Participant only by the Participant; provided, however, that the Board may permit transfer of an Option or SAR in a manner that is not prohibited by applicable tax and securities laws upon the Participant’s request, including to a trust if the Participant is considered to be the sole beneficial owner 

of such trust (as determined under Section 671 of the Code and applicable state law) while such Option or SAR is held in such trust, provided that the Participant and the trustee enter into a transfer and other agreements required by the Company.
(ii)    Domestic Relations Orders.  Notwithstanding the foregoing, subject to the execution of transfer documentation in a format acceptable to the Company and subject to the approval of the Board or a duly authorized Officer, an Option or SAR may be transferred pursuant to a domestic relations order.
(f)    Vesting.  The Board may impose such restrictions on or conditions to the vesting and/or exercisability of an Option or SAR as determined by the Board.  Except as otherwise provided in the Award Agreement or other written agreement between a Participant and the Company or an Affiliate, vesting of Options and SARs will cease upon termination of the Participant’s Continuous Service.
(g)    Termination of Continuous Service for Cause.  Except as explicitly otherwise provided in the Award Agreement or other written agreement between a Participant and the Company or an Affiliate, if a Participant’s Continuous Service is terminated for Cause, the Participant’s Options and SARs will terminate and be forfeited immediately upon such termination of Continuous Service, and the Participant will be prohibited from exercising any portion (including any vested portion) of such Awards on and after the date of such termination of Continuous Service and the Participant will have no further right, title or interest in such forfeited Award, the shares of Common Stock subject to the forfeited Award, or any consideration in respect of the forfeited Award.
(h)    Post-Termination Exercise Period Following Termination of Continuous Service for Reasons Other than Cause.  Subject to Section 4(i), if a Participant’s Continuous Service terminates for any reason other than for Cause, the Participant may exercise his or her Option or SAR to the extent vested, but only within the following period of time or, if applicable, such other period of time provided in the Award Agreement or other written agreement between a Participant and the Company or an Affiliate; provided, however, that in no event may such Award be exercised after the expiration of its maximum term (as set forth in Section 4(a)):
(i)    three months following the date of such termination if such termination is a termination without Cause (other than any termination due to the Participant’s Disability or death);
(ii)    12 months following the date of such termination if such termination is due to the Participant’s Disability;
(iii)    18 months following the date of such termination if such termination is due to the Participant’s death; or
(iv)    18 months following the date of the Participant’s death if such death occurs following the date of such termination but during the period such Award is otherwise exercisable (as provided in (i) or (ii) above).
Following the date of such termination, to the extent the Participant does not exercise such Award within the applicable Post-Termination Exercise Period (or, if earlier, prior to the expiration of the maximum term of such Award), such unexercised portion of the Award will terminate, and the Participant will have no further right, title or interest in terminated Award, the shares of Common Stock subject to the terminated Award, or any consideration in respect of the terminated Award.
(i)    Restrictions on Exercise; Extension of Exercisability.  A Participant may not exercise an Option or SAR at any time that the issuance of shares of Common Stock upon such exercise would violate Applicable Law.  Except as otherwise provided in the Award Agreement or other written agreement between a Participant and the Company or an Affiliate, if a Participant’s Continuous Service terminates for any reason other than for Cause and, at any time during the last thirty days of the applicable Post-Termination Exercise Period: (i) the exercise of the Participant’s Option or SAR would be prohibited solely because the issuance of shares of Common Stock upon such exercise would violate Applicable Law, or (ii) the immediate sale of any shares of Common Stock issued upon such exercise would violate the Company’s Trading Policy, then the applicable Post-Termination Exercise Period will be extended to the last day of the calendar month that commences following the date the Award would otherwise expire, with an additional extension of the exercise period to the last day of the next calendar month to apply if any of the foregoing restrictions apply at any time during such extended exercise period, generally without limitation as to the maximum permitted number of extensions); provided, however, that in no event may such Award be exercised after the expiration of its maximum term (as set forth in Section 4(a)).
(j)    Non-Exempt Employees.  No Option or SAR, whether or not vested, granted to an Employee who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, will be first exercisable for any shares of 

Common Stock until at least six months following the date of grant of such Award.  Notwithstanding the foregoing, in accordance with the provisions of the Worker Economic Opportunity Act, any vested portion of such Award may be exercised earlier than six months following the date of grant of such Award in the event of (i) such Participant’s death or Disability, (ii) a Corporate Transaction in which such Award is not assumed, continued or substituted, (iii) a Change in Control, or (iv) such Participant’s retirement (as such term may be defined in the Award Agreement or another applicable agreement or, in the absence of any such definition, in accordance with the Company’s then current employment policies and guidelines).  This Section 4(j) is intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option or SAR will be exempt from his or her regular rate of pay.
(k)    Whole Shares.  Options and SARs may be exercised only with respect to whole shares of Common Stock or their equivalents.
5.    Awards Other Than Options and Stock Appreciation Rights.
(a)    Restricted Stock Awards and RSU Awards.  Each Restricted Stock Award and RSU Award will have such terms and conditions as determined by the Board; provided, however, that each Restricted Stock Award Agreement and RSU Award Agreement will conform (through incorporation of the provisions hereof by reference in the Award Agreement or otherwise) to the substance of each of the following provisions: 
(i)    Form of Award.  
(1)    RSAs: To the extent consistent with the Company’s Bylaws, at the Board’s election, shares of Common Stock subject to a Restricted Stock Award may be (i) held in book entry form subject to the Company’s instructions until such shares become vested or any other restrictions lapse, or (ii) evidenced by a certificate, which certificate will be held in such form and manner as determined by the Board.  Unless otherwise determined by the Board, a Participant will have voting and other rights as a stockholder of the Company with respect to any shares subject to a Restricted Stock Award.  
(2)    RSUs:  A RSU Award represents a Participant’s right to be issued on a future date the number of shares of Common Stock that is equal to the number of restricted stock units subject to the RSU Award.  As a holder of a RSU Award, a Participant is an unsecured creditor of the Company with respect to the Company's unfunded obligation, if any, to issue shares of Common Stock in settlement of such Award and nothing contained in the Plan or any RSU Agreement, and no action taken pursuant to its provisions, will create or be construed to create a trust of any kind or a fiduciary relationship between a Participant and the Company or an Affiliate or any other person.  A Participant will not have voting or any other rights as a stockholder of the Company with respect to any RSU Award (unless and until shares are actually issued in settlement of a vested RSU Award).  
(ii)    Consideration.  
(1)    RSA: A Restricted Stock Award may be granted in consideration for (A) cash or check, bank draft or money order payable to the Company, (B) past services to the Company or an Affiliate, or (C) any other form of consideration (including future services) as the Board may determine and permissible under Applicable Law.
(2)    RSU: Unless otherwise determined by the Board at the time of grant, a RSU Award will be granted in consideration for the Participant’s services to the Company or an Affiliate, such that the Participant will not be required to make any payment to the Company (other than such services) with respect to the grant or vesting of the RSU Award, or the issuance of any shares of Common Stock pursuant to the RSU Award.  If, at the time of grant, the Board determines that any consideration must be paid by the Participant (in a form other than the Participant’s services to the Company or an Affiliate) upon the issuance of any shares of Common Stock in settlement of the RSU Award, such consideration may be paid in any form of consideration as the Board may determine and permissible under Applicable Law.
(iii)    Vesting.  The Board may impose such restrictions on or conditions to the vesting of a Restricted Stock Award or RSU Award as determined by the Board.  Except as otherwise provided in the Award Agreement or other written agreement between a Participant and the Company or an Affiliate, vesting of Restricted Stock Awards and RSU Awards will cease upon termination of the Participant’s Continuous Service. 
(iv)    Termination of Continuous Service.  Except as otherwise provided in the Award Agreement or other written agreement between a Participant and the Company or an Affiliate, if a Participant’s Continuous Service terminates for any reason, (i) the Company may receive through a forfeiture condition or a repurchase right any or all of the shares of Common Stock held by the Participant under his or her Restricted Stock Award that have not vested as of the date of such 

termination as set forth in the Restricted Stock Award Agreement and (ii) any portion of his or her RSU Award that has not vested will be forfeited upon such termination and the Participant will have no further right, title or interest in the RSU Award, the shares of Common Stock issuable pursuant to the RSU Award, or any consideration in respect of the RSU Award.
(v)    Dividends and Dividend Equivalents.  Dividends or dividend equivalents may be paid or credited, as applicable, with respect to any shares of Common Stock subject to a Restricted Stock Award or RSU Award, as determined by the Board and specified in the Award Agreement). 
(vi)    Settlement of RSU Awards.  A RSU Award may be settled by the issuance of shares of Common Stock or cash (or any combination thereof) or in any other form of payment, as determined by the Board and specified in the RSU Award Agreement.  At the time of grant, the Board may determine to impose such restrictions or conditions that delay such delivery to a date following the vesting of the RSU Award.
(b)    Performance Awards.  With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.
(c)    Other Awards.  Other forms of Awards valued in whole or in part by reference to, or otherwise based on, Common Stock, including the appreciation in value thereof (e.g., options or stock rights with an exercise price or strike price less than 100% of the Fair Market Value at the time of grant) may be granted either alone or in addition to Awards provided for under Section 4 and the preceding provisions of this Section 5.  Subject to the provisions of the Plan, the Board will have sole and complete discretion to determine the persons to whom and the time or times at which such Other Awards will be granted, the number of shares of Common Stock (or the cash equivalent thereof) to be granted pursuant to such Other Awards and all other terms and conditions of such Other Awards.
6.    Adjustments upon Changes in Common Stock; Other Corporate Events.
(a)    Capitalization Adjustments.  In the event of a Capitalization Adjustment, the Board shall appropriately and proportionately adjust: (i) the class(es) and maximum number of shares of Common Stock subject to the Plan and the maximum number of shares by which the Share Reserve may annually increase pursuant to Section 2(a), (ii) the class(es) and maximum number of shares that may be issued pursuant to the exercise of Incentive Stock Options pursuant to Section 2(a), and (iii) the class(es) and number of securities and exercise price, strike price or purchase price of Common Stock subject to outstanding Awards.  The Board shall make such adjustments, and its determination shall be final, binding and conclusive.  Notwithstanding the foregoing, no fractional shares or rights for fractional shares of Common Stock shall be created in order to implement any Capitalization Adjustment.  The Board shall determine an equivalent benefit for any fractional shares or fractional shares that might be created by the adjustments referred to in the preceding provisions of this Section.
(b)    Dissolution or Liquidation.  Except as otherwise provided in the Award Agreement, in the event of a dissolution or liquidation of the Company, all outstanding Awards (other than Awards consisting of vested and outstanding shares of Common Stock not subject to a forfeiture condition or the Company’s right of repurchase) will terminate immediately prior to the completion of such dissolution or liquidation, and the shares of Common Stock subject to the Company’s repurchase rights or subject to a forfeiture condition may be repurchased or reacquired by the Company notwithstanding the fact that the holder of such Award is providing Continuous Service, provided, however, that the Board may determine to cause some or all Awards to become fully vested, exercisable and/or no longer subject to repurchase or forfeiture (to the extent such Awards have not previously expired or terminated) before the dissolution or liquidation is completed but contingent on its completion.
(c)    Corporate Transaction.  The following provisions will apply to Awards in the event of a Corporate Transaction unless otherwise provided in the instrument evidencing the Award or any other written agreement between the Company or any Affiliate and the Participant or unless otherwise expressly provided by the Board at the time of grant of an Award.
(i)    Awards May Be Assumed.  In the event of a Corporate Transaction, any surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) may assume or continue any or all Awards outstanding under the Plan or may substitute similar awards for Awards outstanding under the Plan (including but not limited to, awards to acquire the same consideration paid to the stockholders of the Company pursuant to the Corporate Transaction), and any reacquisition or repurchase rights held by the Company in respect of Common Stock issued pursuant to Awards may be assigned by the Company to the successor of the Company (or the successor’s parent company, if any), in connection with such Corporate Transaction.  A surviving corporation or acquiring corporation (or its parent) may choose to assume or continue only a portion of an Award or substitute a similar award for only a portion of an Award, or may choose to assume or continue the 

Awards held by some, but not all Participants.  The terms of any assumption, continuation or substitution will be set by the Board.
(ii)    Awards Held by Current Participants.  In the event of a Corporate Transaction in which the surviving corporation or acquiring corporation (or its parent company) does not assume or continue such outstanding Awards or substitute similar awards for such outstanding Awards, then with respect to Awards that have not been assumed, continued or substituted and that are held by Participants whose Continuous Service has not terminated prior to the effective time of the Corporate Transaction (referred to as the “Current Participants”), the vesting of such Awards (and, with respect to Options and Stock Appreciation Rights, the time when such Awards may be exercised) will be accelerated in full to a date prior to the effective time of such Corporate Transaction (contingent upon the effectiveness of the Corporate Transaction) as the Board determines (or, if the Board does not determine such a date, to the date that is five (5) days prior to the effective time of the Corporate Transaction), and such Awards will terminate if not exercised (if applicable) at or prior to the effective time of the Corporate Transaction, and any reacquisition or repurchase rights held by the Company with respect to such Awards will lapse (contingent upon the effectiveness of the Corporate Transaction).  With respect to the vesting of Performance Awards that will accelerate upon the occurrence of a Corporate Transaction pursuant to this subsection (ii) and that have multiple vesting levels depending on the level of performance, unless otherwise provided in the Award Agreement, the vesting of such Performance Awards will accelerate at 100% of the target level upon the occurrence of the Corporate Transaction.  With respect to the vesting of Awards that will accelerate upon the occurrence of a Corporate Transaction pursuant to this subsection (ii) and are settled in the form of a cash payment, such cash payment will be made no later than 30 days following the occurrence of the Corporate Transaction.. 
(iii)    Awards Held by Persons other than Current Participants.  In the event of a Corporate Transaction in which the surviving corporation or acquiring corporation (or its parent company) does not assume or continue such outstanding Awards or substitute similar awards for such outstanding Awards, then with respect to Awards that have not been assumed, continued or substituted and that are held by persons other than Current Participants, such Awards will terminate if not exercised (if applicable) prior to the occurence of the Corporate Transaction; provided, however, that any reacquisition or repurchase rights held by the Company with respect to such Awards will not terminate and may continue to be exercised notwithstanding the Corporate Transaction.
(iv)    Payment for Awards in Lieu of Exercise.  Notwithstanding the foregoing, in the event an Award will terminate if not exercised prior to the effective time of a Corporate Transaction, the Board may provide, in its sole discretion, that the holder of such Award may not exercise such Award but will receive a payment, in such form as may be determined by the Board, equal in value, at the effective time, to the excess, if any, of (1) the value of the property the Participant would have received upon the exercise of the Award (including, at the discretion of the Board, any unvested portion of such Award), over (2) any exercise price payable by such holder in connection with such exercise.
(d)    Appointment of Stockholder Representative.  As a condition to the receipt of an Award under this Plan, a Participant will be deemed to have agreed that the Award will be subject to the terms of any agreement governing a Corporate Transaction involving the Company, including, without limitation, a provision for the appointment of a stockholder representative that is authorized to act on the Participant’s behalf with respect to any escrow, indemnities and any contingent consideration.
(e)    No Restriction on Right to Undertake Transactions.  The grant of any Award under the Plan and the issuance of shares pursuant to any Award does not affect or restrict in any way the right or power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any issue of stock or of options, rights or options to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Common Stock or the rights thereof or which are convertible into or exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.
7.    Administration.
(a)    Administration by Board.  The Board will administer the Plan unless and until the Board delegates administration of the Plan to a Committee or Committees, as provided in subsection (c) below.  
(b)    Powers of Board.  The Board will have the power, subject to, and within the limitations of, the express provisions of the Plan:

(i)    To determine from time to time (1) which of the persons eligible under the Plan will be granted Awards; (2) when and how each Award will be granted; (3) what type or combination of types of Award will be granted; (4) the provisions of each Award granted (which need not be identical), including the time or times when a person will be permitted to receive an issuance of Common Stock or other payment pursuant to an Award; (5) the number of shares of Common Stock or cash equivalent with respect to which an Award will be granted to each such person; (6) the Fair Market Value applicable to an Award; and (7) the terms of any Performance Award that is not valued in whole or in part by reference to, or otherwise based on, the Common Stock, including the amount of cash payment or other property that may be earned and the timing of payment.
(ii)    To construe and interpret the Plan and Awards granted under it, and to establish, amend and revoke rules and regulations for its administration.  The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Award Agreement, in a manner and to the extent it deems necessary or expedient to make the Plan or Award fully effective.
(iii)    To settle all controversies regarding the Plan and Awards granted under it.
(iv)    To accelerate the time at which an Award may first be exercised or the time during which an Award or any part thereof will vest, notwithstanding the provisions in the Award Agreement stating the time at which it may first be exercised or the time during which it will vest.
(v)    To prohibit the exercise of any Option, SAR or other exercisable Award during a period of up to 30 days prior to the consummation of any pending stock dividend, stock split, combination or exchange of shares, merger, consolidation or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of Common Stock or the share price of the Common Stock including any Corporate Transaction, for reasons of administrative convenience.
(vi)    To suspend or terminate the Plan at any time.  Suspension or termination of the Plan will not Materially Impair rights and obligations under any Award granted while the Plan is in effect except with the written consent of the affected Participant.
(vii)    To amend the Plan in any respect the Board deems necessary or advisable; provided, however, that stockholder approval will be required for any amendment to the extent required by Applicable Law.  Except as provided above, rights under any Award granted before amendment of the Plan will not be Materially Impaired by any amendment of the Plan unless (1) the Company requests the consent of the affected Participant, and (2) such Participant consents in writing.
(viii)    To submit any amendment to the Plan for stockholder approval.
(ix)    To approve forms of Award Agreements for use under the Plan and to amend the terms of any one or more Awards, including, but not limited to, amendments to provide terms more favorable to the Participant than previously provided in the Award Agreement, subject to any specified limits in the Plan that are not subject to Board discretion; provided however, that, a Participant’s rights under any Award will not be Materially Impaired by any such amendment unless (1) the Company requests the consent of the affected Participant, and (2) such Participant consents in writing.
(x)    Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of the Company and that are not in conflict with the provisions of the Plan or Awards.
(xi)    To adopt such procedures and sub-plans as are necessary or appropriate to permit and facilitate participation in the Plan by, or take advantage of specific tax treatment for Awards granted to, Employees, Directors or Consultants who are foreign nationals or employed outside the United States (provided that Board approval will not be necessary for immaterial modifications to the Plan or any Award Agreement to ensure or facilitate compliance with the laws of the relevant foreign jurisdiction).
(xii)    To effect, at any time and from time to time, subject to the consent of any Participant whose Award is Materially Impaired by such action, (1) the reduction of the exercise price (or strike price) of any outstanding Option or SAR; (2) the cancellation of any outstanding Option or SAR and the grant in substitution therefor of (A) a new Option, SAR, Restricted Stock Award, RSU Award or Other Award, under the Plan or another equity plan of the Company, covering the same or a different number of shares of Common Stock, (B) cash and/or (C) other valuable consideration (as determined by the Board); or (3) any other action that is treated as a repricing under generally accepted accounting principles.

(c)    Delegation to Committee.
(i)    General.  The Board may delegate some or all of the administration of the Plan to a Committee or Committees.  If administration of the Plan is delegated to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have been delegated to the Committee, including the power to delegate to another Committee or a subcommittee of the Committee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board will thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board.  Each Committee may retain the authority to concurrently administer the Plan with Committee or subcommittee to which it has delegated its authority hereunder and may, at any time, revest in such Committee some or all of the powers previously delegated.  The Board may retain the authority to concurrently administer the Plan with any Committee and may, at any time, revest in the Board some or all of the powers previously delegated.  
(ii)    Rule 16b-3 Compliance.  To the extent an Award is intended to qualify for the exemption from Section 16(b) of the Exchange Act that is available under Rule 16b-3 of the Exchange Act, the Award will be granted by the Board or a Committee that consists solely of two or more Non-Employee Directors, as determined under Rule 16b-3(b)(3) of the Exchange Act and thereafter any action establishing or modifying the terms of the Award will be approved by the Board or a Committee meeting such requirements to the extent necessary for such exemption to remain available.
(d)    Effect of Board’s Decision. All determinations, interpretations and constructions made by the Board or any Committee in good faith will not be subject to review by any person and will be final, binding and conclusive on all persons.
(e)    Delegation to an Officer.  The Board or any Committee may delegate to one or more Officers the authority to do one or both of the following (i) designate Employees who are not Officers to be recipients of Options and SARs (and, to the extent permitted by Applicable Law, other types of Awards) and, to the extent permitted by Applicable Law, the terms thereof, and (ii) determine the number of shares of Common Stock to be subject to such Awards granted to such Employees; provided, however, that the resolutions or charter adopted by the Board or any Committee evidencing such delegation will specify the total number of shares of Common Stock that may be subject to the Awards granted by such Officer and that such Officer may not grant an Award to himself or herself.  Any such Awards will be granted on the applicable form of Award Agreement most recently approved for use by the Board or the Committee, unless otherwise provided in the resolutions approving the delegation authority.  Notwithstanding anything to the contrary herein, neither the Board nor any Committee may delegate to an Officer who is acting solely in the capacity of an Officer (and not also as a Director) the authority to determine the Fair Market Value.
8.    Tax Withholding
(a)    Withholding Authorization.  As a condition to acceptance of any Award under the Plan, a Participant authorizes withholding from payroll and any other amounts payable to such Participant, and otherwise agree to make adequate provision for (including), any sums required to satisfy any U.S. federal, state, local and/or foreign tax or social insurance contribution withholding obligations of the Company or an Affiliate, if any, which arise in connection with the exercise, vesting or settlement of such Award, as applicable.  Accordingly, a Participant may not be able to exercise an Award even though the Award is vested, and the Company shall have no obligation to issue shares of Common Stock subject to an Award, unless and until such obligations are satisfied.
(b)    Satisfaction of Withholding Obligation.  To the extent permitted by the terms of an Award Agreement, the Company may, in its sole discretion, satisfy any U.S. federal, state, local and/or foreign tax or social insurance withholding obligation relating to an Award by any of the following means or by a combination of such means: (i) causing the Participant to tender a cash payment; (ii) withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable to the Participant in connection with the Award; (iii) withholding cash from an Award settled in cash; (iv) withholding payment from any amounts otherwise payable to the Participant; (v) by allowing a Participant to effectuate a “cashless exercise” pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board, or (vi) by such other method as may be set forth in the Award Agreement.  
(c)    No Obligation to Notify or Minimize Taxes; No Liability to Claims.  Except as required by Applicable Law the Company has no duty or obligation to any Participant to advise such holder as to the time or manner of exercising such Award.  Furthermore, the Company has no duty or obligation to warn or otherwise advise such holder of a pending termination or expiration of an Award or a possible period in which the Award may not be exercised.  The Company has no duty or obligation to minimize the tax consequences of an Award to the holder of such Award and will not be liable to any holder of an Award for any adverse tax consequences to such holder in connection with an Award.  As a condition to accepting an Award under the Plan, each Participant (i) agrees to not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates 

related to tax liabilities arising from such Award or other Company compensation and (ii) acknowledges that such Participant was advised to consult with his or her own personal tax, financial and other legal advisors regarding the tax consequences of the Award and has either done so or knowingly and voluntarily declined to do so. Additionally, each Participant acknowledges any Option or SAR granted under the Plan is exempt from Section 409A only if the exercise or strike price is at least equal to the “fair market value” of the Common Stock on the date of grant as determined by the Internal Revenue Service and there is no other impermissible deferral of compensation associated with the Award.  Additionally, as a condition to accepting an Option or SAR granted under the Plan, each Participant agrees not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates in the event that the Internal Revenue Service asserts that such exercise price or strike price is less than the “fair market value” of the Common Stock on the date of grant as subsequently determined by the Internal Revenue Service.
(d)    Withholding Indemnification.  As a condition to accepting an Award under the Plan, in the event that the amount of the Company’s and/or its Affiliate’s withholding obligation in connection with such Award was greater than the amount actually withheld by the Company and/or its Affiliates, each Participant agrees to indemnify and hold the Company and/or its Affiliates harmless from any failure by the Company and/or its Affiliates to withhold the proper amount.
9.    Miscellaneous.
(a)    Source of Shares.  The stock issuable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including shares repurchased by the Company on the open market or otherwise.
(b)    Use of Proceeds from Sales of Common Stock.  Proceeds from the sale of shares of Common Stock pursuant to Awards will constitute general funds of the Company.
(c)    Corporate Action Constituting Grant of Awards.  Corporate action constituting a grant by the Company of an Award to any Participant will be deemed completed as of the date of such corporate action, unless otherwise determined by the Board, regardless of when the instrument, certificate, or letter evidencing the Award is communicated to, or actually received or accepted by, the Participant.  In the event that the corporate records (e.g., Board consents, resolutions or minutes) documenting the corporate action approving the grant contain terms (e.g., exercise price, vesting schedule or number of shares) that are inconsistent with those in the Award Agreement or related grant documents as a result of a clerical error in the Award Agreement or related grant documents, the corporate records will control and the Participant will have no legally binding right to the incorrect term in the Award Agreement or related grant documents.
(d)    Stockholder Rights.  No Participant will be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Common Stock subject to such Award unless and until (i) such Participant has satisfied all requirements for exercise of the Award pursuant to its terms, if applicable, and (ii) the issuance of the Common Stock subject to such Award is reflected in the records of the Company.
(e)    No Employment or Other Service Rights.  Nothing in the Plan, any Award Agreement or any other instrument executed thereunder or in connection with any Award granted pursuant thereto will confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award was granted or affect the right of the Company or an Affiliate to terminate at will and without regard to any future vesting opportunity that a Participant may have with respect to any Award (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate, or (iii) the service of a Director pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state or foreign jurisdiction in which the Company or the Affiliate is incorporated, as the case may be.  Further, nothing in the Plan, any Award Agreement or any other instrument executed thereunder or in connection with any Award will constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or service or confer any right or benefit under the Award or the Plan unless such right or benefit has specifically accrued under the terms of the Award Agreement and/or Plan.
(f)    Change in Time Commitment.  In the event a Participant’s regular level of time commitment in the performance of his or her services for the Company and any Affiliates is reduced (for example, and without limitation, if the Participant is an Employee of the Company and the Employee has a change in status from a full-time Employee to a part-time Employee  or takes an extended leave of absence) after the date of grant of any Award to the Participant, the Board may determine, to the extent permitted by Applicable Law, to (i) make a corresponding reduction in the number of shares or cash amount subject to any portion of such Award that is scheduled to vest or become payable after the date of such change in time commitment, and (ii) in lieu of or in combination with such a reduction, extend the vesting or payment schedule applicable to such Award. In the event of any such reduction, the Participant will have no right with respect to any portion of the Award that is so reduced or extended.

(g)    Execution of Additional Documents.  As a condition to accepting an Award under the Plan, the Participant agrees to execute any additional documents or instruments necessary or desirable, as determined in the Plan Administrator’s sole discretion, to carry out the purposes or intent of the Award, or facilitate compliance with securities and/or other regulatory requirements, in each case at the Plan Administrator’s request.
(h)    Electronic Delivery and Participation.  Any reference herein or in an Award Agreement to a “written” agreement or document will include any agreement or document delivered electronically, filed publicly at www.sec.gov (or any successor website thereto) or posted on the Company’s intranet (or other shared electronic medium controlled by the Company to which the Participant has access).  By accepting any Award the Participant consents to receive documents by electronic delivery and to participate in the Plan through any on-line electronic system established and maintained by the Plan Administrator or another third party selected by the Plan Administrator.  The form of delivery of any Common Stock (e.g., a stock certificate or electronic entry evidencing such shares) shall be determined by the Company.
(i)    Clawback/Recovery.  All Awards granted under the Plan will be subject to recoupment in accordance with any clawback policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other Applicable Law and any clawback policy that the Company otherwise adopts, to the extent applicable and permissible under Applicable Law. In addition, the Board may impose such other clawback, recovery or recoupment provisions in an Award Agreement as the Board determines necessary or appropriate, including but not limited to a reacquisition right in respect of previously acquired shares of Common Stock or other cash or property upon the occurrence of Cause. No recovery of compensation under such a clawback policy will be an event giving rise to a Participant’s right to voluntary terminate employment upon a “resignation for good reason,” or for a “constructive termination” or any similar term under any plan of or agreement with the Company.
(j)    Securities Law Compliance.  A Participant will not be issued any shares in respect of an Award unless either (i) the shares are registered under the Securities Act; or (ii) the Company has determined that such issuance would be exempt from the registration requirements of the Securities Act.  Each Award also must comply with other Applicable Law governing the Award, and a Participant will not receive such shares if the Company determines that such receipt would not be in material compliance with Applicable Law.
(k)    Transfer or Assignment of Awards; Issued Shares.  Except as expressly provided in the Plan or the form of Award Agreement, Awards granted under the Plan may not be transferred or assigned by the Participant.  After the vested shares subject to an Award have been issued, or in the case of Restricted Stock and similar awards, after the issued shares have vested, the holder of such shares is free to assign, hypothecate, donate, encumber or otherwise dispose of any interest in such shares provided that any such actions are in compliance with the provisions herein, the terms of the Trading Policy and Applicable Law.
(l)    Effect on Other Employee Benefit Plans.  The value of any Award granted under the Plan, as determined upon grant, vesting or settlement, shall not be included as compensation, earnings, salaries, or other similar terms used when calculating any Participant’s benefits under any employee benefit plan sponsored by the Company or any Affiliate, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company's or any Affiliate's employee benefit plans.
(m)    Deferrals.  To the extent permitted by Applicable Law, the Board, in its sole discretion, may determine that the delivery of Common Stock or the payment of cash, upon the exercise, vesting or settlement of all or a portion of any Award may be deferred and may also establish programs and procedures for deferral elections to be made by Participants.  Deferrals by will be made in accordance with the requirements of Section 409A.
(n)    Section 409A.  Unless otherwise expressly provided for in an Award Agreement, the Plan and Award Agreements will be interpreted to the greatest extent possible in a manner that makes the Plan and the Awards granted hereunder exempt from Section 409A, and, to the extent not so exempt, in compliance with the requirements of Section 409A. If the Board determines that any Award granted hereunder is not exempt from and is therefore subject to Section 409A, the Award Agreement evidencing such Award will incorporate the terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code, and to the extent an Award Agreement is silent on terms necessary for compliance, such terms are hereby incorporated by reference into the Award Agreement. Notwithstanding anything to the contrary in this Plan (and unless the Award Agreement specifically provides otherwise), if the shares of Common Stock are publicly traded, and if a Participant holding an Award that constitutes “deferred compensation” under Section 409A is a “specified employee” for purposes of Section 409A, no distribution or payment of any amount that is due because of a “separation from service” (as defined in Section 409A without regard to alternative definitions thereunder) will be issued or paid before the date that is six months and one day 

following the date of such Participant’s “separation from service” or, if earlier, the date of the Participant’s death, unless such distribution or payment can be made in a manner that complies with Section 409A, and any amounts so deferred will be paid in a lump sum on the day after such six month period elapses, with the balance paid thereafter on the original schedule.
(o)    Choice of Law.  This Plan and any controversy arising out of or relating to this Plan shall be governed by, and construed in accordance with, the internal laws of the State of California, without regard to conflict of law principles that would result in any application of any law other than the law of the State of California.
10.    Covenants of the Company.
(a)    Compliance with Law.  The Company will seek to obtain from each regulatory commission or agency, as may be deemed to be necessary, having jurisdiction over the Plan such authority as may be required to grant Awards and to issue and sell shares of Common Stock upon exercise or vesting of the Awards; provided, however, that this undertaking will not require the Company to register under the Securities Act the Plan, any Award or any Common Stock issued or issuable pursuant to any such Award.  If, after reasonable efforts and at a reasonable cost, the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems necessary or advisable for the lawful issuance and sale of Common Stock under the Plan, the Company will be relieved from any liability for failure to issue and sell Common Stock upon exercise or vesting of such Awards unless and until such authority is obtained. A Participant is not eligible for the grant of an Award or the subsequent issuance of Common Stock pursuant to the Award if such grant or issuance would be in violation of any Applicable Law.
11.    Additional Rules for Awards Subject to Section 409A.
(a)    Application.  Unless the provisions of this Section of the Plan are expressly superseded by the provisions in the form of Award Agreement, the provisions of this Section shall apply and shall supersede anything to the contrary set forth in the Award Agreement for a Non-Exempt Award. 
(b)    Non-Exempt Awards Subject to Non-Exempt Severance Arrangements.  To the extent a Non-Exempt Award is subject to Section 409A due to application of a Non-Exempt Severance Arrangement, the following provisions of this subsection (b) apply.  
(i)    If the Non-Exempt Award vests in the ordinary course during the Participant’s Continuous Service in accordance with the vesting schedule set forth in the Award Agreement, and does not accelerate vesting under the terms of a Non-Exempt Severance Arrangement, in no event will the shares be issued in respect of such Non-Exempt Award any later than the later of: (i) December 31st of the calendar year that includes the applicable vesting date, or (ii) the 60th day that follows the applicable vesting date. 
(ii)    If vesting of the Non-Exempt Award accelerates under the terms of a Non-Exempt Severance Arrangement in connection with the Participant’s Separation from Service, and such vesting acceleration provisions were in effect as of the date of grant of the Non-Exempt Award and, therefore, are part of the terms of such Non-Exempt Award as of the date of grant, then the shares will be earlier issued in settlement of such Non-Exempt Award upon the Participant’s Separation from Service in accordance with the terms of the Non-Exempt Severance Arrangement, but in no event later than the 60th day that follows the date of the Participant’s Separation from Service.  However, if at the time the shares would otherwise be issued the Participant is subject to the distribution limitations contained in Section 409A applicable to “specified employees,” as defined in Section 409A(a)(2)(B)(i) of the Code, such shares shall not be issued before the date that is six months following the date of such Participant’s Separation from Service, or, if earlier, the date of the Participant’s death that occurs within such six month period.
(iii)    If vesting of a Non-Exempt Award accelerates under the terms of a Non-Exempt Severance Arrangement in connection with a Participant’s Separation from Service, and such vesting acceleration provisions were not in effect as of the date of grant of the Non-Exempt Award and, therefore, are not a part of the terms of such Non-Exempt Award on the date of grant, then such acceleration of vesting of the Non-Exempt Award shall not accelerate the issuance date of the shares, but the shares shall instead be issued on the same schedule as set forth in the Grant Notice as if they had vested in the ordinary course during the Participant’s Continuous Service, notwithstanding the vesting acceleration of the Non-Exempt Award.  Such issuance schedule is intended to satisfy the requirements of payment on a specified date or pursuant to a fixed schedule, as provided under Treasury Regulations Section 1.409A-3(a)(4).
(c)    Treatment of Non-Exempt Awards Upon a Corporate Transaction for Employees and Consultants.  The provisions of this subsection (c) shall apply and shall supersede anything to the contrary set forth in the Plan with respect to 

the permitted treatment of any Non-Exempt Award in connection with a Corporate Transaction if the Participant was either an Employee or Consultant upon the applicable date of grant of the Non-Exempt Award.
(i)    Vested Non-Exempt Awards.  The following provisions shall apply to any Vested Non-Exempt Award in connection with a Corporate Transaction:
(1)    If the Corporate Transaction is also a Section 409A Change in Control then the Acquiring Entity may not assume, continue or substitute the Vested Non-Exempt Award.  Upon the Section 409A Change in Control the settlement of the Vested Non-Exempt Award will automatically be accelerated and the shares will be immediately issued in respect of the Vested Non-Exempt Award.  Alternatively, the Company may instead provide that the Participant will receive a cash settlement equal to the Fair Market Value of the shares that would otherwise be issued to the Participant upon the Section 409A Change in Control.
(2)    If the Corporate Transaction is not also a Section 409A Change in Control, then the Acquiring Entity must either assume, continue or substitute each Vested Non-Exempt Award.  The shares to be issued in respect of the Vested Non-Exempt Award shall be issued to the Participant by the Acquiring Entity on the same schedule that the shares would have been issued to the Participant if the Corporate Transaction had not occurred.  In the Acquiring Entity’s discretion, in lieu of an issuance of shares, the Acquiring Entity may instead substitute a cash payment on each applicable issuance date, equal to the Fair Market Value of the shares that would otherwise be issued to the Participant on such issuance dates, with the determination of the Fair Market Value of the shares made on the date of the Corporate Transaction.
(ii)    Unvested Non-Exempt Awards.  The following provisions shall apply to any Unvested Non-Exempt Award unless otherwise determined by the Board pursuant to subsection (e) of this Section.
(1)    In the event of a Corporate Transaction, the Acquiring Entity shall assume, continue or substitute any Unvested Non-Exempt Award.  Unless otherwise determined by the Board, any Unvested Non-Exempt Award will remain subject to the same vesting and forfeiture restrictions that were applicable to the Award prior to the Corporate Transaction.  The shares to be issued in respect of any Unvested Non-Exempt Award shall be issued to the Participant by the Acquiring Entity on the same schedule that the shares would have been issued to the Participant if the Corporate Transaction had not occurred.  In the Acquiring Entity’s discretion, in lieu of an issuance of shares, the Acquiring Entity may instead substitute a cash payment on each applicable issuance date, equal to the Fair Market Value of the shares that would otherwise be issued to the Participant on such issuance dates, with the determination of Fair Market Value of the shares made on the date of the Corporate Transaction.  
(2)    If the Acquiring Entity will not assume, substitute or continue any Unvested Non-Exempt Award in connection with a Corporate Transaction, then such Award shall automatically terminate and be forfeited upon the Corporate Transaction with no consideration payable to any Participant in respect of such forfeited Unvested Non-Exempt Award.  Notwithstanding the foregoing, to the extent permitted and in compliance with the requirements of Section 409A, the Board may in its discretion determine to elect to accelerate the vesting and settlement of the Unvested Non-Exempt Award upon the Corporate Transaction, or instead substitute a cash payment equal to the Fair Market Value of such shares that would otherwise be issued to the Participant, as further provided in subsection (e)(ii) below.  In the absence of such discretionary election by the Board, any Unvested Non-Exempt Award shall be forfeited without payment of any consideration to the affected Participants if the Acquiring Entity will not assume, substitute or continue the Unvested Non-Exempt Awards in connection with the Corporate Transaction.
(3)    The foregoing treatment shall apply with respect to all Unvested Non-Exempt Awards upon any Corporate Transaction, and regardless of whether or not such Corporate Transaction is also a Section 409A Change in Control.
(d)    Treatment of Non-Exempt Awards Upon a Corporate Transaction for Non-Employee Directors.  The following provisions of this subsection (d) shall apply and shall supersede anything to the contrary that may be set forth in the Plan with respect to the permitted treatment of a Non-Exempt Director Award in connection with a Corporate Transaction. 
(i)    If the Corporate Transaction is also a Section 409A Change in Control then the Acquiring Entity may not assume, continue or substitute the Non-Exempt Director Award.  Upon the Section 409A Change in Control the vesting and settlement of any Non-Exempt Director Award will automatically be accelerated and the shares will be immediately issued to the Participant in respect of the Non-Exempt Director Award.  Alternatively, the Company may provide that the Participant will instead receive a cash settlement equal to the Fair Market Value of the shares that would otherwise be issued to the Participant upon the Section 409A Change in Control pursuant to the preceding provision.

(ii)    If the Corporate Transaction is not also a Section 409A Change in Control, then the Acquiring Entity must either assume, continue or substitute the Non-Exempt Director Award.  Unless otherwise determined by the Board, the Non-Exempt Director Award will remain subject to the same vesting and forfeiture restrictions that were applicable to the Award prior to the Corporate Transaction.  The shares to be issued in respect of the Non-Exempt Director Award shall be issued to the Participant by the Acquiring Entity on the same schedule that the shares would have been issued to the Participant if the Corporate Transaction had not occurred.  In the Acquiring Entity’s discretion, in lieu of an issuance of shares, the Acquiring Entity may instead substitute a cash payment on each applicable issuance date, equal to the Fair Market Value of the shares that would otherwise be issued to the Participant on such issuance dates, with the determination of Fair Market Value made on the date of the Corporate Transaction.
(e)    If the RSU Award is a Non-Exempt Award, then the provisions in this Section 11(e) shall apply and supersede anything to the contrary that may be set forth in the Plan or the Award Agreement with respect to the permitted treatment of such Non-Exempt Award:
(i)    Any exercise by the Board of discretion to accelerate the vesting of a Non-Exempt Award shall not result in any acceleration of the scheduled issuance dates for the shares in respect of the Non-Exempt Award unless earlier issuance of the shares upon the applicable vesting dates would be in compliance with the requirements of Section 409A.
(ii)    The Company explicitly reserves the right to earlier settle any Non-Exempt Award to the extent permitted and in compliance with the requirements of Section 409A, including pursuant to any of the exemptions available in Treasury Regulations Section 1.409A-3(j)(4)(ix).
(iii)    To the extent the terms of any Non-Exempt Award provide that it will be settled upon a Change in Control or Corporate Transaction, to the extent it is required for compliance with the requirements of Section 409A, the Change in Control or Corporate Transaction event triggering settlement must also constitute a Section 409A Change in Control. To the extent the terms of a Non-Exempt Award provides that it will be settled upon a termination of employment or termination of Continuous Service, to the extent it is required for compliance with the requirements of Section 409A, the termination event triggering settlement must also constitute a Separation From Service.  However, if at the time the shares would otherwise be issued to a Participant in connection with a “separation from service” such Participant is subject to the distribution limitations contained in Section 409A applicable to “specified employees,” as defined in Section 409A(a)(2)(B)(i) of the Code, such shares shall not be issued before the date that is six months following the date of the Participant’s Separation From Service, or, if earlier, the date of the Participant’s death that occurs within such six month period.
(iv)    The provisions in this subsection (e) for delivery of the shares in respect of the settlement of a RSU Award that is a Non-Exempt Award are intended to comply with the requirements of Section 409A so that the delivery of the shares to the Participant in respect of such Non-Exempt Award will not trigger the additional tax imposed under Section 409A, and any ambiguities herein will be so interpreted.
12.    Severability.  
If all or any part of the Plan or any Award Agreement is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any portion of the Plan or such Award Agreement not declared to be unlawful or invalid. Any Section of the Plan or any Award Agreement (or part of such a Section) so declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid.
13.    Termination of the Plan.
The Board may suspend or terminate the Plan at any time.  
No Incentive Stock Options may be granted after the tenth anniversary of the earlier of: (i) the Adoption Date, or (ii) the date the Plan is approved by the Company’s stockholders.  
No Awards may be granted under the Plan while the Plan is suspended or after it is terminated.
14.    Definitions.

As used in the Plan, the following definitions apply to the capitalized terms indicated below:
(a)     “Acquiring Entity” means the surviving or acquiring corporation (or its parent company) in connection with a Corporate Transaction.
(b)    “Adoption Date” means the date the Plan is first approved by the Board or Compensation Committee.
(c)    “Affiliate” means, at the time of determination, any “parent” or “subsidiary” of the Company as such terms are defined in Rule 405 promulgated under the Securities Act.  The Board may determine the time or times at which “parent” or “subsidiary” status is determined within the foregoing definition.
(d)    “Applicable Law” means shall mean any applicable securities, federal, state, foreign, material local or municipal or other law, statute, constitution, principle of common law, resolution, ordinance, code, edict, decree, rule, listing rule, regulation, judicial decision, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Body (including under the authority of any applicable self-regulating organization such as the Nasdaq Stock Market, New York Stock Exchange, or the Financial Industry Regulatory Authority).
(e)    “Award” means any right to receive Common Stock, cash or other property granted under the Plan (including an Incentive Stock Option, a Nonstatutory Stock Option, a Restricted Stock Award, a RSU Award, a SAR, a Performance Award or any Other Award).
(f)    “Award Agreement” means a written agreement between the Company and a Participant evidencing the terms and conditions of an Award.  The Award Agreement generally consists of the Grant Notice and the agreement containing the written summary of the general terms and conditions applicable to the Award and which is provided to a Participant along with the Grant Notice. 
(g)    “Board” means the Board of Directors of the Company (or its designee).  Any decision or determination made by the Board shall be a decision or determination that is made in the sole discretion of the Board (or its designee), and such decision or determination shall be final and binding on all Participants.
(h)    “Capitalization Adjustment” means any change that is made in, or other events that occur with respect to, the Common Stock subject to the Plan or subject to any Award after the Effective Date without the receipt of consideration by the Company through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, large nonrecurring cash dividend, stock split, reverse stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or any similar equity restructuring transaction, as that term is used in Statement of Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto).  Notwithstanding the foregoing, the conversion of any convertible securities of the Company will not be treated as a Capitalization Adjustment.
(i)     “Cause” has the meaning ascribed to such term in any written agreement between the Participant and the Company defining such term and, in the absence of such agreement, such term means, with respect to a Participant, the occurrence of any of the following events:  (i) such Participant’s attempted commission of, or participation in, a fraud or act of dishonesty against the Company; (ii) such Participant’s intentional, material violation of any contract or agreement between the Participant and the Company or of any statutory duty owed to the Company; (iii)  such Participant’s unauthorized use or disclosure of the Company’s confidential information or trade secrets; or (iv) such Participant’s gross misconduct. The determination that a termination of the Participant’s Continuous Service is either for Cause or without Cause will be made by the Board with respect to Participants who are executive officers of the Company and by the Company’s Chief Executive Officer with respect to Participants who are not executive officers of the Company.  Any determination by the Company that the Continuous Service of a Participant was terminated with or without Cause for the purposes of outstanding Awards held by such Participant will have no effect upon any determination of the rights or obligations of the Company or such Participant for any other purpose.
(j)    “Change in Control” or “Change of Control” means the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events; provided, however, to the extent necessary to avoid adverse personal income tax consequences to the Participant in connection with an Award, also constitutes a Section 409A Change in Control:
(i)    any Exchange Act Person becomes the Owner, directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities other than by virtue of 

a merger, consolidation or similar transaction.  Notwithstanding the foregoing, a Change in Control shall not be deemed to occur (A) on account of the acquisition of securities of the Company directly from the Company, (B) on account of the acquisition of securities of the Company by an investor, any affiliate thereof or any other Exchange Act Person that acquires the Company’s securities in a transaction or series of related transactions the primary purpose of which is to obtain financing for the Company through the issuance of equity securities, or (C) solely because the level of Ownership held by any Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such share acquisition, the Subject Person becomes the Owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding voting securities Owned by the Subject Person over the designated percentage threshold, then a Change in Control shall be deemed to occur;
(ii)    there is consummated a merger, consolidation or similar transaction involving (directly or indirectly) the Company and, immediately after the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto do not Own, directly or indirectly, either (A) outstanding voting securities representing more than 50% of the combined outstanding voting power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than 50% of the combined outstanding voting power of the parent of the surviving Entity in such merger, consolidation or similar transaction, in each case in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such transaction;
(iii)    the stockholders of the Company approve or the Board approves a plan of complete dissolution or liquidation of the Company, or a complete dissolution or liquidation of the Company shall otherwise occur, except for a liquidation into a parent corporation;
(iv)    there is consummated a sale, lease, exclusive license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries to an Entity, more than 50% of the combined voting power of the voting securities of which are Owned by stockholders of the Company in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such sale, lease, license or other disposition; or
(v)    individuals who, on the date the Plan is adopted by the Board, are members of the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the Board; provided, however, that if the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member shall, for purposes of this Plan, be considered as a member of the Incumbent Board.
Notwithstanding the foregoing or any other provision of this Plan, (A) the term Change in Control shall not include a sale of assets, merger or other transaction effected exclusively for the purpose of changing the domicile of the Company, and (B) the definition of Change in Control (or any analogous term) in an individual written agreement between the Company or any Affiliate and the Participant shall supersede the foregoing definition with respect to Awards subject to such agreement; provided, however, that if no definition of Change in Control or any analogous term is set forth in such an individual written agreement, the foregoing definition shall apply.
(k)    “Code” means the Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder.
(l)     “Committee” means the Compensation Committee and any other committee of Directors to whom authority has been delegated by the Board or Compensation Committee in accordance with the Plan.
(m)     “Common Stock” means the common stock of the Company.
(n)    “Company” means Oportun Financial Corporation, a Delaware corporation.
(o)    “Compensation Committee” means the Compensation and Leadership Committee of the Board.
(p)    “Consultant” means any person, including an advisor, who is (i) engaged by the Company or an Affiliate to render consulting or advisory services and is compensated for such services, or (ii) serving as a member of the board of directors of an Affiliate and is compensated for such services.  However, service solely as a Director, or payment of a fee for such service, 

will not cause a Director to be considered a “Consultant” for purposes of the Plan. Notwithstanding the foregoing, a person is treated as a Consultant under this Plan only if a Form S-8 Registration Statement under the Securities Act is available to register either the offer or the sale of the Company’s securities to such person.
(q)    “Continuous Service” means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated.  A change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Director or Consultant or a change in the Entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s service with the Company or an Affiliate, will not terminate a Participant’s Continuous Service; provided, however, that if the Entity for which a Participant is rendering services ceases to qualify as an Affiliate, as determined by the Board, such Participant’s Continuous Service will be considered to have terminated on the date such Entity ceases to qualify as an Affiliate.  For example, a change in status from an Employee of the Company to a Consultant of an Affiliate or to a Director will not constitute an interruption of Continuous Service.  To the extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service will be considered interrupted in the case of (i) any leave of absence approved by the Board or chief executive officer, including sick leave, military leave or any other personal leave, or (ii) transfers between the Company, an Affiliate, or their successors.  Notwithstanding the foregoing, a leave of absence will be treated as Continuous Service for purposes of vesting in an Award only to such extent as may be provided in the Company’s leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise required by law.  In addition, to the extent required for exemption from or compliance with Section 409A, the determination of whether there has been a termination of Continuous Service will be made, and such term will be construed, in a manner that is consistent with the definition of “separation from service” as defined under Treasury Regulation Section 1.409A-1(h) (without regard to any alternative definition thereunder).
(r)    “Corporate Transaction” means the consummation, in a single transaction or in a series of related transactions, of any one or more of the following events:
(i)    a sale or other disposition of all or substantially all, as determined by the Board, of the consolidated assets of the Company and its Subsidiaries;
(ii)    a sale or other disposition of at least 50% of the outstanding securities of the Company;
(iii)    a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or
(iv)    a merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar transaction into other property, whether in the form of securities, cash or otherwise.
(s)    “Director” means a member of the Board.
(t)    “determine” or “determined” means as determined by the Board or the Committee (or its designee) in its sole discretion.
(u)    “Disability” means, with respect to a Participant, such Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months, as provided in Section 22(e)(3) of the Code, and will be determined by the Board on the basis of such medical evidence as the Board deems warranted under the circumstances.
(v)     “Effective Date” means the IPO Date, provided this Plan is approved by the Company’s stockholders prior to the IPO Date. 
(w)    “Employee” means any person employed by the Company or an Affiliate.  However, service solely as a Director, or payment of a fee for such services, will not cause a Director to be considered an “Employee” for purposes of the Plan.
(x)    “Employer” means the Company or the Affiliate of the Company that employs the Participant.

(y)    “Entity” means a corporation, partnership, limited liability company or other entity.
(z)    “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.
(aa)    “Exchange Act Person” means any natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act), except that “Exchange Act Person” will not include (i) the Company or any Subsidiary of the Company, (ii) any employee benefit plan of the Company or any Subsidiary of the Company or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary of the Company, (iii) an underwriter temporarily holding securities pursuant to a registered public offering of such securities, (iv) an Entity Owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their Ownership of stock of the Company; or (v) any natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) that, as of the Effective Date, is the Owner, directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities.
(bb)     “Fair Market Value” means, as of any date, unless otherwise determined by the Board, the value of the Common Stock (as determined on a per share or aggregate basis, as applicable) determined as follows:
(i)    If the Common Stock is listed on any established stock exchange or traded on any established market, the Fair Market Value will be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on the date of determination, as reported in a source the Board deems reliable.
(ii)    If there is no closing sales price for the Common Stock on the date of determination, then the Fair Market Value will be the closing selling price on the last preceding date for which such quotation exists.
(iii)    In the absence of such markets for the Common Stock, or if otherwise determined by the Board, the Fair Market Value will be determined by the Board in good faith and in a manner that complies with Sections 409A and 422 of the Code.
(cc)    “Governmental Body” means any: (a) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; (c) governmental or regulatory body, or quasi-governmental body of any nature (including any governmental division, department, administrative agency or bureau, commission, authority, instrumentality, official, ministry, fund, foundation, center, organization, unit, body or Entity and any court or other tribunal, and for the avoidance of doubt, any Tax authority) or other body exercising similar powers or authority; or (d) self-regulatory organization (including the Nasdaq Stock Market, New York Stock Exchange, and the Financial Industry Regulatory Authority).
(dd)     “Grant Notice” means the notice provided to a Participant that he or she has been granted an Award under the Plan and which includes the name of the Participant, the type of Award, the date of grant of the Award, number of shares of Common Stock subject to the Award or potential cash payment right, (if any), the vesting schedule for the Award (if any) and other key terms applicable to the Award. 
(ee)    “Incentive Stock Option” means an option granted pursuant to Section 4 of the Plan that is intended to be, and qualifies as, an “incentive stock option” within the meaning of Section 422 of the Code.
(ff)     “IPO Date” means the date of the underwriting agreement between the Company and the underwriter(s) managing the initial public offering of the Common Stock, pursuant to which the Common Stock is priced for the initial public offering. 
(gg)    “Materially Impair” means any amendment to the terms of the Award that materially adversely affects the Participant’s rights under the Award.  A Participant's rights under an Award will not be deemed to have been Materially Impaired by any such amendment if the Board, in its sole discretion, determines that the amendment, taken as a whole, does not materially impair the Participant's rights.  For example, the following types of amendments to the terms of an Award do not Materially Impair the Participant’s rights under the Award: (i) imposition of reasonable restrictions on the minimum number of shares subject to an Option that may be exercised, (ii) to maintain the qualified status of the Award as an Incentive Stock Option under Section 422 of the Code; (iii) to change the terms of an Incentive Stock Option in a manner that disqualifies, impairs or otherwise affects the qualified status of the Award as an Incentive Stock Option under Section 422 of the Code; (iv) to clarify the manner of 

exemption from, or to bring the Award into compliance with or qualify it for an exemption from, Section 409A; or (v) to comply with other Applicable Laws.
(hh)    “Non-Employee Director” means a Director who either (i) is not a current employee or officer of the Company or an Affiliate, does not receive compensation, either directly or indirectly, from the Company or an Affiliate for services rendered as a consultant or in any capacity other than as a Director (except for an amount as to which disclosure would not be required under Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation S-K”)), does not possess an interest in any other transaction for which disclosure would be required under Item 404(a) of Regulation S-K, and is not engaged in a business relationship for which disclosure would be required pursuant to Item 404(b) of Regulation S-K; or (ii) is otherwise considered a “non-employee director” for purposes of Rule 16b-3.
(ii)    “Non-Exempt Award” means any Award that is subject to, and not exempt from, Section 409A, including as the result of (i) a deferral of the issuance of the shares subject to the Award which is elected by the Participant or imposed by the Company, (ii) the terms of any Non-Exempt Severance Agreement.
(jj)    “Non-Exempt Director Award” means a Non-Exempt Award granted to a Participant who was a Director but not an Employee on the applicable grant date. 
(kk)    “Non-Exempt Severance Arrangement” means a severance arrangement or other agreement between the Participant and the Company that provides for acceleration of vesting of an Award and issuance of the shares in respect of such Award upon the Participant’s termination of employment or separation from service (as such term is defined in Section 409A(a)(2)(A)(i) of the Code (and without regard to any alternative definition thereunder) (“Separation from Service”) and such severance benefit does not satisfy the requirements for an exemption from application of Section 409A provided under Treasury Regulations Section 1.409A-1(b)(4), 1.409A-1(b)(9) or otherwise.
(ll)    “Nonstatutory Stock Option” means any option granted pursuant to Section 4 of the Plan that does not qualify as an Incentive Stock Option.
(mm)    “Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act.
(nn)    “Option” means an Incentive Stock Option or a Nonstatutory Stock Option to purchase shares of Common Stock granted pursuant to the Plan.
(oo)    “Option Agreement” means a written agreement between the Company and the Optionholder evidencing the terms and conditions of the Option grant.  The Option Agreement includes the Grant Notice for the Option and the agreement containing the written summary of the general terms and conditions applicable to the Option and which is provided to a Participant along with the Grant Notice.  Each Option Agreement will be subject to the terms and conditions of the Plan.
(pp)    “Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option.
(qq)    “Other Award” means an award based in whole or in part by reference to the Common Stock which is granted pursuant to the terms and conditions of Section 5(c).
(rr)    “Other Award Agreement” means a written agreement between the Company and a holder of an Other Award evidencing the terms and conditions of an Other Award grant.  Each Other Award Agreement will be subject to the terms and conditions of the Plan.
(ss)    “Own,” “Owned,” “Owner,” “Ownership” means that a person or Entity will be deemed to “Own,” to have “Owned,” to be the “Owner” of, or to have acquired “Ownership” of securities if such person or Entity, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect to such securities.
(tt)    “Participant” means an Employee, Director or Consultant to whom an Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Award.

(uu)    “Performance Award” means an Award that may vest or may be exercised or a cash award that may vest or become earned and paid contingent upon the attainment during a Performance Period of certain Performance Goals and which is granted under the terms and conditions of Section 5(b) pursuant to such terms as are approved by the Board.  In addition, to the extent permitted by Applicable Law and set forth in the applicable Award Agreement, the Board may determine that cash or other property may be used in payment of Performance Awards.  Performance Awards that are settled in cash or other property are not required to be valued in whole or in part by reference to, or otherwise based on, the Common Stock.
(vv)     “Performance Criteria” means the one or more criteria that the Board will select for purposes of establishing the Performance Goals for a Performance Period.  The Performance Criteria that will be used to establish such Performance Goals may be based on any measure of performance selected by the Board.
(ww)     “Performance Goals” means, for a Performance Period, the one or more goals established by the Board for the Performance Period based upon the Performance Criteria.  Performance Goals may be based on a Company-wide basis, with respect to one or more business units, divisions, Affiliates, or business segments, and in either absolute terms or relative to the performance of one or more comparable companies or the performance of one or more relevant indices.  Unless specified otherwise by the Board (i) in the Award Agreement at the time the Award is granted or (ii) in such other document setting forth the Performance Goals at the time the Performance Goals are established, the Board will appropriately make adjustments in the method of calculating the attainment of Performance Goals for a Performance Period as follows: (1) to exclude restructuring and/or other nonrecurring charges; (2) to exclude exchange rate effects; (3) to exclude the effects of changes to generally accepted accounting principles; (4) to exclude the effects of any statutory adjustments to corporate tax rates; (5) to exclude the effects of items that are “unusual” in nature or occur “infrequently” as determined under generally accepted accounting principles; (6) to exclude the dilutive effects of acquisitions or joint ventures; (7) to assume that any business divested by the Company achieved performance objectives at targeted levels during the balance of a Performance Period following such divestiture; (8) to exclude the effect of any change in the outstanding shares of common stock of the Company by reason of any stock dividend or split, stock repurchase, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of shares or other similar corporate change, or any distributions to common stockholders other than regular cash dividends; (9) to exclude the effects of stock based compensation and the award of bonuses under the Company’s bonus plans; (10) to exclude costs incurred in connection with potential acquisitions or divestitures that are required to expensed under generally accepted accounting principles; and (11) to exclude the goodwill and intangible asset impairment charges that are required to be recorded under generally accepted accounting principles.  In addition, the Board retains the discretion to reduce or eliminate the compensation or economic benefit due upon attainment of Performance Goals and to define the manner of calculating the Performance Criteria it selects to use for such Performance Period. Partial achievement of the specified criteria may result in the payment or vesting corresponding to the degree of achievement as specified in the Award Agreement or the written terms of a Performance Cash Award. 
(xx)    “Performance Period” means the period of time selected by the Board over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to vesting or exercise of an Award.  Performance Periods may be of varying and overlapping duration, at the sole discretion of the Board.
(yy)    “Plan” means this Oportun Financial Corporation 2019 Equity Incentive Plan.
(zz)    “Plan Administrator” means the person, persons, and/or third-party administrator designated by the Company to administer the day to day operations of the Plan and the Company’s other equity incentive programs.
(aaa)    “Post-Termination Exercise Period” means the period following termination of a Participant’s Continuous Service within which an Option or SAR is exercisable, as specified in Section 4(h).
(bbb)    “Prior Plan’s Available Reserve” means the number of shares available for the grant of new awards under the Prior Plan as of immediately prior to the Effective Date.
(ccc)    “Prior Plan” means the Oportun Financial Corporation 2015 Stock Option/ Stock Issuance Plan and the Oportun Financial Corporation Amended and Restated 2005 Stock Option/Stock Issuance Plan.
(ddd)    “Prospectus” means the document containing the Plan information specified in Section 10(a) of the Securities Act.
(eee)    “Restricted Stock Award” or “RSA” means an Award of shares of Common Stock which is granted pursuant to the terms and conditions of Section 5(a).

(fff)    “Restricted Stock Award Agreement” means a written agreement between the Company and a holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award grant.  The Restricted Stock Award Agreement includes the Grant Notice for the Restricted Stock Award and the agreement containing the written summary of the general terms and conditions applicable to the Restricted Stock Award and which is provided to a Participant along with the Grant Notice.  Each Restricted Stock Award Agreement will be subject to the terms and conditions of the Plan.
(ggg)    “Returning Shares” means shares subject to outstanding stock awards granted under the Prior Plan and that following the Effective Date: (A)  are not issued because such stock award or any portion thereof expires or otherwise terminates without all of the shares covered by such stock award having been issued; (B)  are not issued because such stock award or any portion thereof is settled in cash;  (C)  are forfeited back to or repurchased by the Company because of the failure to meet a contingency or condition required for the vesting of such shares; (D) are withheld or reacquired to satisfy the exercise, strike or purchase price; or (E) are withheld or reacquired to satisfy a tax withholding obligation.
(hhh)    “RSU Award” or “RSU” means an Award of restricted stock units representing the right to receive an issuance of shares of Common Stock which is granted pursuant to the terms and conditions of Section 5(a).
(iii)    “RSU Award Agreement” means a written agreement between the Company and a holder of a RSU Award evidencing the terms and conditions of a RSU Award grant.  The RSU Award Agreement includes the Grant Notice for the RSU Award and the agreement containing the written summary of the general terms and conditions applicable to the RSU Award and which is provided to a Participant along with the Grant Notice.  Each RSU Award Agreement will be subject to the terms and conditions of the Plan.
(jjj)    “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time.
(kkk)    “Rule 405” means Rule 405 promulgated under the Securities Act.  
(lll)    “Section 409A” means Section 409A of the Code and the regulations and other guidance thereunder.
(mmm)    “Section 409A Change in Control” means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets, as provided in Section 409A(a)(2)(A)(v) of the Code and Treasury Regulations Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).
(nnn)    “Securities Act” means the Securities Act of 1933, as amended.
(ooo)    “Share Reserve” means the number of shares available for issuance under the Plan as set forth in Section 2(a).
(ppp)    “Stock Appreciation Right” or “SAR” means a right to receive the appreciation on Common Stock that is granted pursuant to the terms and conditions of Section 4.
(qqq)    “SAR Agreement” means a written agreement between the Company and a holder of a SAR evidencing the terms and conditions of a SAR grant.  The SAR Agreement includes the Grant Notice for the SAR and the agreement containing the written summary of the general terms and conditions applicable to the SAR and which is provided to a Participant along with the Grant Notice.  Each SAR Agreement will be subject to the terms and conditions of the Plan.
(rrr)    “Subsidiary” means, with respect to the Company, (i) any corporation of which more than 50% of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of any other class or classes of such corporation will have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability company or other entity in which the Company has a direct or indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than 50%.
(sss)    “Ten Percent Stockholder” means a person who Owns (or is deemed to Own pursuant to Section 424(d) of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any Affiliate.

(ttt)    “Trading Policy” means the Company’s policy permitting certain individuals to sell Company shares only during certain "window" periods and/or otherwise restricts the ability of certain individuals to transfer or encumber Company shares, as in effect from time to time.
(uuu)    “Unvested Non-Exempt Award” means the portion of any Non-Exempt Award that had not vested in accordance with its terms upon or prior to the date of any Corporate Transaction.
(vvv)    “Vested Non-Exempt Award” means the portion of any Non-Exempt Award that had vested in accordance with its terms upon or prior to the date of a Corporate Transaction.

Oportun Financial Corporation
RSU Award Grant Notice – International 
(2019 Equity Incentive Plan)

Oportun Financial Corporation (the “Company”) has awarded to you (the “Participant”) the number of restricted stock units specified and on the terms set forth below in consideration of your services (the “RSU Award”).  Your RSU Award is subject to all of the terms and conditions as set forth herein and in the Company’s 2019 Equity Incentive Plan (the “Plan”) and the Award Agreement (the “Agreement”) (including any special terms and conditions for your country set forth in the attached appendix (the “Appendix”)), which are attached hereto and incorporated herein in their entirety.  Capitalized terms not explicitly defined herein but defined in the Plan or the Agreement (including the Appendix) shall have the meanings set forth in the Plan or the Agreement.
Participant:        
Date of Grant:        
Vesting Commencement Date:        
Number of Restricted Stock Units:        

Vesting Schedule:     [__________________________________________________________________].   Notwithstanding the foregoing, vesting shall terminate upon the Participant’s termination of Continuous Service.   

Issuance Schedule:       One share of Common Stock will be issued for each restricted stock unit which vests at the time set forth in Section 5 of the Agreement.
IMPORTANT INFORMATION REGARDING REJECTION OR ACCEPTANCE OF THE RSU AWARD AND SELL TO COVER ELECTION
Acceptance of the RSU Award: Please read this Grant Notice, the Agreement and the Plan carefully. If you do not wish to receive this RSU Award and/or you do not consent and agree to the terms and conditions on which this RSU Award is offered, as set forth in the this Grant Notice, the Agreement and the Plan, then you must reject the RSU Award by sending your written notice of rejection to the Company’s stock plan administrator (the “Stock Plan Administrator”) at [***] or at the Company’s principal executive offices, located at 2 Circle Star Way, San Carlos, California, 94070; Attention: Stock Plan Administrator no later than the 60th calendar day following the Date of Grant (the “Rejection Deadline”).  However, if the Rejection Deadline does not occur (1) during an “open window period” applicable to you, as determined by the Company in accordance with the Company’s then-effective policy or policies on trading in Company securities or (2) on a date when you are otherwise permitted to trade in Company securities, then the Rejection Deadline will be extended until the first business day thereafter on which you are permitted to trade in Company securities in accordance with the Company’s then-effective policy or policies on trading in Company securities. If you do not reject the RSU Award in accordance with this paragraph on or prior to the Rejection Deadline (as the same may be extended pursuant to the preceding sentence), then the RSU Award will be deemed to be accepted by you on the Rejection Deadline (as the same may be extended pursuant to the preceding sentence).  The date that this RSU Award is deemed accepted by you pursuant to this paragraph is referred to as the “Acceptance Date.”   

If you reject the RSU Award in accordance with the previous paragraph, the RSU Award will be cancelled and your eligibility for any future or additional benefits under the RSU Award will terminate.  Similarly, your failure to reject the RSU Award in accordance with previous paragraph on or before the Rejection Deadline (as the same may be extended pursuant to the previous paragraph) will constitute your acceptance of the RSU Award and your agreement with all terms and conditions of the RSU Award, as set forth in the Notice, the Agreement and the Plan, in each case effective on the Acceptance Date.

Sell to Cover Election: By accepting the RSU Award as set forth above, you: (1) elect, on the Acceptance Date, to sell shares of Common Stock issued in respect of the RSU Award in an amount determined in accordance with Section 5(b) of the Agreement, and, on the Acceptance Date, you authorize and direct the Agent (as defined in the Agreement) to remit the cash proceeds of such sale to the Company as more specifically set forth in Section 5(b) of the Agreement (a “Sell to Cover”); (2) direct the Company, on the Acceptance Date, to make a cash payment to satisfy the Withholding Obligation from the cash proceeds of such sale directly to the appropriate taxing authorities; and (3) represent and warrant that (i) you have carefully reviewed Section 5(b) of the Agreement, (ii) on the Acceptance Date, you are not aware of any material, nonpublic information with respect to the Company or any securities of the Company, are not subject to any legal, regulatory or contractual restriction that would prevent the Agent from conducting sales, do not have, and will not attempt to exercise, authority, influence or control over any sales of Common Stock effected by the Agent pursuant to the Agreement, and are  making this election 

to Sell to Cover on the Acceptance Date in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b5-1 (regarding trading of the Company’s securities on the basis of material nonpublic information) under the Exchange Act, and (iii) it is your intent that this election to Sell to Cover and Section 5(b) of the Agreement comply with the requirements of Rule 10b5-1(c)(1) under the Exchange Act and be interpreted to comply with the requirements of Rule 10b5-1(c) under the Exchange Act. You further acknowledge that by accepting this RSU Award as set forth above, you are adopting a 10b5-1 Plan (as defined in Section 5(b) of the Agreement) on the Acceptance Date to permit you to conduct a Sell to Cover sufficient to satisfy the Withholding Obligation as more specifically set forth in Section 5(b) of the Agreement.
Participant Acknowledgements:  By failing to notify the Company of your rejection of the RSU Award on or before the Rejection Deadline (as the same may be extended as set forth above), you understand and agree that as of the Acceptance Date:
    The RSU Award is governed by this RSU Award Grant Notice (the “Grant Notice”), and the provisions of the Plan and the Agreement (including the Appendix), all of which are made a part of this document.  Unless otherwise provided in the Plan, this Grant Notice and the Agreement (including the Appendix) (together, the “RSU Award Agreement”) may not be modified, amended or revised except in a writing signed by you and a duly authorized officer of the Company.  
    You have read and are familiar with the provisions of the Plan, the RSU Award Agreement and the Prospectus.  In the event of any conflict between the provisions in the RSU Award Agreement, or the Prospectus and the terms of the Plan, the terms of the Plan shall control.  
    The RSU Award Agreement sets forth the entire understanding between you and the Company regarding the acquisition of Common Stock and supersedes all prior oral and written agreements, promises and/or representations on that subject with the exception of: (i) other equity awards previously granted to you, (ii) any written employment agreement, offer letter, severance agreement, written severance plan or policy, or other written agreement between the Company and you in each case that specifies the terms that should govern this RSU Award, and (iii) any separate election you enter into with the Company’s written approval which is also applicable to the RSU Award.

Attachments:     RSU Award Agreement (including the Appendix), 2019 Equity Incentive Plan, Form S-8 Prospectus

Oportun Financial Corporation 

2019 Equity Incentive Plan - International
Award Agreement (RSU Award)
As reflected by your Restricted Stock Unit Grant Notice (“Grant Notice”) Oportun Financial Corporation (the “Company”) has granted you a RSU Award under its 2019 Equity Incentive Plan (the “Plan”) for the number of restricted stock units as indicated in your Grant Notice (the “RSU Award”).  The terms of your RSU Award as specified in this Award Agreement for your RSU Award (including any special terms and conditions for your country set forth in the attached Appendix (the “Appendix”)) (the “Agreement”) and the Grant Notice constitute your “RSU Award Agreement”. Defined terms not explicitly defined in this Agreement but defined in the Grant Notice or the Plan shall have the same definitions as in the Grant Notice or Plan, as applicable.  
The general terms applicable to your RSU Award are as follows:
1.    Governing Plan Document.  Your RSU Award is subject to all the provisions of the Plan, including but not limited to the provisions in: 
a.    Section 6 of the Plan regarding the impact of a Capitalization Adjustment, dissolution, liquidation, or Corporate Transaction on your RSU Award;
b.    Section 9(e) regarding the Company’s or your Employer’s retained rights to terminate your Continuous Service notwithstanding the grant of the RSU Award; and 
c.    Section 8(c) regarding the tax and social security consequences of your RSU Award.  
Your RSU Award is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan.  In the event of any conflict between the RSU Award Agreement and the provisions of the Plan, the provisions of the Plan shall control.  
2.    Grant of the RSU Award.  This RSU Award represents your right to be issued on a future date the number of shares of the Company’s Common Stock that is equal to the number of restricted stock units indicated in the Grant Notice subject to your satisfaction of the vesting conditions set forth therein (the “Restricted Stock Units”).  Any additional Restricted Stock Units that become subject to the RSU Award pursuant to Capitalization Adjustments as set forth in the Plan and the provisions of Section 3 below, if any, shall be subject, in a manner determined by the Board, to the same forfeiture restrictions, restrictions on transferability, and time and manner of delivery as applicable to the other Restricted Stock Units covered by your RSU Award.
3.    Dividends.  You may become entitled to receive payments equal to any cash dividends and other distributions paid with respect to a corresponding number of shares of Common Stock to be issued in respect of the Restricted Stock Units covered by your RSU Award.  Any such dividends or distributions shall be subject to the same forfeiture restrictions as apply to the Restricted Stock Units and shall be paid at the same time that the corresponding shares are issued in respect of your vested Restricted Stock Units, provided, however that to the extent any such dividends or distributions are paid in shares of Common Stock, then you will automatically be granted a corresponding number of additional Restricted Stock Units subject to the RSU Award (the “Dividend Units”), and further provided that such Dividend Units shall be subject to the same forfeiture restrictions and restrictions on transferability, and same timing requirements for issuance of shares, as apply to the Restricted Stock Units subject to the RSU Award with respect to which the Dividend Units relate.
4.    Date of Issuance.  
a.    If the RSU Award is exempt from application of Section 409A of the Code and any state law of similar effect (collectively “Section 409A”), the Company will deliver to you a number of shares of the Company’s Common Stock equal to the number of vested Restricted Stock Units subject to your RSU Award, including any additional Restricted Stock Units received pursuant to Section 3 above that relate to those vested Restricted Stock Units on the applicable vesting date (the “Original Issuance Date”).  However, if the Original Issuance Date falls on a date that is not a business day, such delivery date shall instead fall on the next following business day.  Notwithstanding the foregoing, if (i) the Original Issuance Date does not occur (1) during an “open window period” applicable to you, as determined by the Company in accordance with the 
1.

Company’s then-effective policy or policies on trading in Company securities or (2) on a date when you are otherwise permitted to sell shares of Common Stock on the open market to satisfy the Withholding Obligation; and (ii) the Company elects, prior to the Original Issuance Date, (x) not to satisfy the Withholding Obligation (as defined in Section 5(a) hereof) by withholding shares of Common Stock from the shares otherwise due, on the Original Issuance Date, to you under this RSU Award pursuant to Section 5 hereof, (y) not to permit you to then effect a Sell to Cover under the 10b5-1 Plan (as defined in Section 5(b) of this Agreement), and (z) not to permit you to satisfy the Withholding Obligation in cash, then such shares shall not be delivered on such Original Issuance Date and shall instead be delivered on the first business day of the next occurring open window period applicable to you or the next business day when you are not prohibited from selling shares of the Company’s Common Stock on the open market, as applicable (and regardless of whether there has been a termination of your Continuous Service before such time), but in no event later than (a) December 31 of the calendar year in which the Original Issuance Date occurs (that is, the last day of the taxable year in which the Original Issuance Date occurs), or (b) if and only if permitted in a manner that complies with Treasury Regulations Section 1.409A-1(b)(4), no later than the date that is the 15th day of the third calendar month of the applicable year following the year in which the shares of Common Stock under this RSU Award are no longer subject to a “substantial risk of forfeiture” within the meaning of Treasury Regulations Section 1.409A-1(d). Delivery of the shares is intended to comply with the requirements for the short-term deferral exemption available under Treasury Regulations Section 1.409A-1(b)(4) and shall be construed and administered in such manner.    
b.     To the extent the RSU Award is a Non-Exempt RSU Award, the provisions of Section 11 of the Plan shall apply.
5.    Withholding Obligations.
a.    On or before the time you receive a distribution of Common Stock pursuant to your RSU Award, or at any time thereafter as requested by the Company, you hereby authorize any required withholding from the Common Stock issuable to you and/or otherwise agree to make adequate provision in cash for any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or any Affiliate which arise in connection with your RSU Award (the “Withholding Obligation”).  
b.    By accepting this RSU Award as set forth in the Grant Notice, you hereby (i) acknowledge and agree that you have elected a Sell to Cover (as defined in the Grant Notice) on the Acceptance Date to permit you to satisfy the Withholding Obligation and that the Withholding Obligation shall be satisfied pursuant to this Section 5(b) to the fullest extent not otherwise satisfied pursuant to the provisions of Section 5(c) hereof and (ii) further acknowledge and agree to the following provisions, in each case on the Acceptance Date:
1)    You hereby irrevocably appoint Charles Schwab & Co., Inc., or such other registered broker-dealer that is a member of the Financial Industry Regulatory Authority as the Company may select, as your agent (the “Agent”), and you authorize and direct the Agent to:
a)    Sell on the open market at the then prevailing market price(s), on your behalf, as soon as practicable on or after the date on which the shares of Common Stock are delivered to you pursuant to Section 4 hereof in connection with the vesting of the Restricted Stock Units, the number (rounded up to the next whole number) of shares of Common Stock sufficient to generate proceeds to cover (A) the satisfaction of the Withholding Obligation arising from the vesting of those Restricted Stock Units and the related issuance of shares of Common Stock to you that is not otherwise satisfied pursuant to Section 5(c) hereof and (B) all applicable fees and commissions due to, or required to be collected by, the Agent with respect thereto; 
b)     Remit directly to the Company and/or any Affiliate the proceeds necessary to satisfy the Withholding Obligation;
c)    Retain the amount required to cover all applicable fees and commissions due to, or required to be collected by, the Agent, relating directly to the sale of the shares of Common Stock referred to in clause (1) above; and
d)    Remit any remaining funds to you. 
2)    You acknowledge that your election to Sell to Cover and the corresponding authorization and instruction to the Agent set forth in this Section 5(b) to sell Common Stock to satisfy the Withholding Obligation is intended to comply with the requirements of Rule 10b5-1(c)(1) under the Exchange Act and to be interpreted to comply with the requirements of Rule 10b5-1(c) under the Exchange Act (your election to Sell to Cover and the provisions of this Section 5(b), 
2.

collectively, the “10b5-1 Plan”). You acknowledge that by accepting this RSU Award as set forth in the Grant Notice, you are adopting the 10b5-1 Plan to permit you to satisfy the Withholding Obligation. You hereby authorize the Company and the Agent to cooperate and communicate with one another to determine the number of shares of Common Stock that must be sold pursuant to Section 5(b)(i) to satisfy your obligations hereunder.
3)    You acknowledge that the Agent is under no obligation to arrange for the sale of Common Stock at any particular price under this 10b5-1 Plan and that the Agent may effect sales as provided in this 10b5-1 Plan in one or more sales and that the average price for executions resulting from bunched orders may be assigned to your account.  You further acknowledge that you will be responsible for all brokerage fees and other costs of sale associated with this 10b5-1 Plan, and you agree to indemnify and hold the Company harmless from any losses, costs, damages, or expenses relating to any such sale.  In addition, you acknowledge that it may not be possible to sell shares of Common Stock as provided for in this 10b5-1 Plan due to (i) a legal or contractual restriction applicable to you or the Agent, (ii) a market disruption, (iii) a sale effected pursuant to this 10b5-1 Plan that would not comply (or in the reasonable opinion of the Agent’s counsel is likely not to comply) with the Securities Act, (iv) the Company’s determination that sales may not be effected under this 10b5-1 Plan or (v) rules governing order execution priority on the national exchange where the Common Stock may be traded.  In the event of the Agent’s inability to sell shares of Common Stock, you will continue to be responsible for the timely payment to the Company of all federal, state, local and foreign taxes that are required by applicable laws and regulations to be withheld, including but not limited to those amounts specified in Section 5(b)(i)(1) above.
4)    You acknowledge that regardless of any other term or condition of this 10b5-1 Plan, the Agent will not be liable to you for (A) special, indirect, punitive, exemplary, or consequential damages, or incidental losses or damages of any kind, or (B) any failure to perform or for any delay in performance that results from a cause or circumstance that is beyond its reasonable control.
5)    You hereby agree to execute and deliver to the Agent any other agreements or documents as the Agent reasonably deems necessary or appropriate to carry out the purposes and intent of this 10b5-1 Plan.  The Agent is a third-party beneficiary of this Section 5(b) and the terms of this 10b5-1 Plan.
6)    Your election to Sell to Cover and to enter into this 10b5-1 Plan is irrevocable. On the Acceptance Date, you have elected to Sell to Cover and to enter into this 10b5-1 Plan, and you acknowledge that you may not change this election at any time in the future. This 10b5-1 Plan shall terminate not later than the date on which the Withholding Obligation arising from the vesting of your Restricted Stock Units and the related issuance of shares of Common Stock has been satisfied.
c.    Alternatively, or in addition to or in combination with the Sell to Cover provided for under Section 5(b), you authorize the Company, at its discretion, to satisfy the Withholding Obligation by the following means (or by a combination of the following means):
1)    Requiring you to pay to the Company any portion of the Withholding Obligation in cash;
2)    Withholding from any compensation otherwise payable to you by the Company; and/or
3)    Withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable to you in connection with the RSU Award with a Fair Market Value (measured as of the date shares of Common Stock are issued pursuant to Section 4) equal to the amount of the Withholding Obligation; provided, however, that the number of such shares of Common Stock so withheld shall not exceed the amount necessary to satisfy the Company’s or Affiliate’s tax withholding obligations as permitted while still avoiding classification of the RSU Award as a liability for financial accounting purposes and provided, further, that to the extent necessary to qualify for an exemption from application of Section 16(b) of the Exchange Act, if applicable, such share withholding procedure will be subject to the express prior approval of the Board or the Company’s Compensation Committee.  
d.    Unless the Withholding Obligation of the Company and/or any Affiliate are satisfied, the Company shall have no obligation to deliver to you any Common Stock.
e.    In the event the Withholding Obligation of the Company arises prior to the delivery to you of Common Stock or it is determined after the delivery of Common Stock to you that the amount of the Withholding Obligation was greater than the amount withheld by the Company, you agree to indemnify and hold the Company harmless from any failure by the Company to withhold the proper amount.
3.

6.    Transferability.  Except as otherwise provided in the Plan, your RSU Award is not transferable, except by will or by the applicable laws of descent and distribution.  
7.    Corporate Transaction.  Your RSU Award is subject to the terms of any agreement governing a Corporate Transaction involving the Company, including, without limitation, a provision for the appointment of a stockholder representative that is authorized to act on your behalf with respect to any escrow, indemnities and any contingent consideration.
8.    RSU Award Not A Service Contract. 
a.    Nothing in this Agreement (including, but not limited to, the vesting of your RSU Award or the issuance of the shares in respect of your RSU Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Agreement or the Plan shall: (i) confer upon you any right to continue in the employ or service of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or Plan; or (iv) deprive the Company of the right to terminate you at will and without regard to any future vesting opportunity that you may have.
b.    By accepting your RSU Award, you acknowledge, understand and agree that: (i) the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to the extent permitted under the Plan; (ii) the grant of your RSU Award is voluntary and occasional and does not create any contractual or other right to receive future grants of awards (whether on the same or different terms), or benefits in lieu of awards, even if awards have been granted in the past; (iii) your RSU Award and any shares of Common Stock acquired under the Plan, and the income and value of same, are not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, holiday pay, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; (iv) the future value of the shares of Common Stock underlying the RSU Award is unknown, indeterminable, and cannot be predicted with certainty; (v) neither the Company nor any Affiliate shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of your RSU Award or of any amounts due to you pursuant to the vesting of your RSU Award or the subsequent sale of any shares of Common Stock received; (vi) for the purposes of the RSU Award, your Continuous Service will be considered terminated as of the date you are no longer actively providing services to the Company or one of its Affiliates (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any), and unless otherwise expressly provided in this Agreement or determined by the Company, your right to vest in the RSU Award under the Plan, if any, will terminate as of such date and will not be extended by any notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any); and  the Stock Plan Administrator shall have the exclusive discretion to determine when you are no longer actively providing services for purposes of the RSU Award (including whether you may still be considered to be providing services while on a leave of absence); ( vii) no claim or entitlement to compensation or damages shall arise from forfeiture of this RSU Award resulting from the termination of your Continuous Service (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment or service agreement, if any), and in consideration of the grant of this RSU Award to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or any Affiliate, waive your ability, if any, to bring any such claim, and release the Company and any Affiliate from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim.
9.    No Liability for Taxes.  As a condition to accepting the RSU Award, you hereby (a) agree to not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates related to tax and social security liabilities arising from the RSU Award or other Company compensation and (b) acknowledge that you were advised to consult with your own personal tax, financial and other legal advisors regarding the tax and social security  consequences of the RSU Award and have either done so or knowingly and voluntarily declined to do so.
10.    Severability.  If any part of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid.  Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid will, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid.
4.

11.    Other Documents.  You hereby acknowledge receipt of or the right to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Prospectus.  In addition, you acknowledge receipt of the Company’s Trading Policy.
12.    No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying shares of Common Stock.  You should consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.
13.    Data Privacy.
a.    You explicitly and unambiguously acknowledge and consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this document by and among, as applicable, your Employer, the Company and its Affiliates for the exclusive purpose of implementing, administering and managing your participation in the Plan. You understand that the Company, its Affiliates and your Employer hold certain personal information about you, including, but not limited to, name, home address and telephone number, date of birth, social security number (or other identification number), salary, nationality, job title, any shares of stock or directorships held in the Company, details of all RSU Awards or any other entitlement to shares of stock awarded, canceled, purchased, exercised, vested, unvested or outstanding in your favor for the purpose of implementing, managing and administering the Plan (“Data”). You understand that the Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in your country or elsewhere, in particular in the US, and that the recipient country may have different data privacy laws providing less protections of your personal data than your country. You may request a list with the names and addresses of any potential recipients of the Data by contacting the stock plan administrator of the Company (the Stock Plan Administrator”). You acknowledge that the recipients may receive, possess, process, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data, as may be required to a broker or other third party with whom you may elect to deposit any shares of Common Stock acquired upon the vesting of your RSU Award. You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You may, at any time, view the Data, request additional information about the storage and processing of the Data, require any necessary amendments to the Data or refuse or withdraw the consents herein, in any case without cost, by contacting the Stock Plan Administrator in writing.
b.    For the purposes of operating the Plan in the European Union (including the UK, if the UK leaves the European Union), the Company will collect and process information relating to you in accordance with the privacy notice from time to time in force.
14.    Language. You acknowledge that you are sufficiently proficient in the English language, or have consulted with an advisor who is sufficiently proficient in English, so as to allow you to understand the terms and conditions of this Agreement. If you have received this Agreement, or any other document related to this RSU Award and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.
15.    Foreign Asset/Account, Exchange Control and Tax Reporting.  You may be subject to foreign asset/account, exchange control and/or tax reporting requirements as a result of the acquisition, holding and/or transfer of shares of Common Stock or cash (including dividends and the proceeds arising from the sale of shares of Common Stock) derived from your participation in the Plan in, to and/or from a brokerage/bank account or legal entity located outside your country.  The Applicable Laws in your country may require that you report such accounts, assets and balances therein, the value thereof and/or the transactions related thereto to the applicable authorities in such country. You may also be required to repatriate sale proceeds or other funds received as a result of your participation in the Plan to your country through a designated bank or broker within a certain time after receipt.  You acknowledge that it is your responsibility to be compliant with such regulations and you are encouraged to consult with your personal legal advisor for any details.
16.    Appendix. Notwithstanding any provisions in this Agreement, your RSU Award shall be subject to the special terms and conditions for your country set forth in the Appendix attached hereto. Moreover, if you relocate to one of the countries included therein, the terms and conditions for such country will apply to you to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement.
17.    Questions.  If you have questions regarding these or any other terms and conditions applicable to your RSU Award, including a summary of the applicable income tax and social security consequences please see the Prospectus.
5.

*  *  *  *  *
This Agreement shall be deemed to be signed by the Company and the Participant upon the signing by the Participant of the Restricted Stock Unit Grant Notice to which it is attached. 
6.

Appendix
This Appendix includes special terms and conditions that govern the RSU Award granted to you under the Plan if you reside and/or work in any country listed below.
The information contained herein is general in nature and may not apply to your particular situation, and you are advised to seek appropriate professional advice as to how the relevant laws in your country may apply to your situation. If you are a citizen or resident of a country other than the one in which you are currently working and/or residing, transfer employment and/or residency to another country after the date of grant, are a consultant, change employment status to a consultant position, or are considered a resident of another country for local law purposes, the Company shall, in its discretion, determine the extent to which the special terms and conditions contained herein shall be applicable to you.  References to your Employer shall include any entity that engages your services.
INDIA
Vesting Restriction.  The following supplements the Agreement.
You must comply at the time of vesting with applicable laws and regulations of India, including but not limited to the Foreign Exchange Management Act, 1999 of India and the rules, regulations and amendments thereto (“FEMA”).  Upon acquisition of the publicly traded stock under the Plan, you will not be required to immediately sell the stock. However, should you subsequently sell the stock purchased under the Plan, you will be required to repatriate any sale proceeds to India immediately upon such sale and in any event within 90 days of the date of sale. 
Further, the Plan and the corresponding documents have neither been delivered for registration nor are they intended to be registered with any regulatory authorities in India. These documents are not intended for distribution and are meant solely for the consideration of the person to whom they are addressed and should not be reproduced by you.
MEXICO
Terms and Conditions
No Entitlement or Claims for Compensation.  These provisions supplement Section 8 (“RSU Award Not A Service Contract”) of the Agreement that clarify that the grant, vesting or settlement of your RSU Award does not give you a right to continued service/employment:
Modification.  By accepting the grant of an RSU Award, you understand and agree that any modification of the Plan or the RSU Award Agreement or its termination shall not constitute a change or impairment of the terms and conditions of your employment.
Policy Statement.  The grant of the RSU Award by the Company under the Plan is unilateral and discretionary and, therefore, the Company reserves the absolute right to amend it and discontinue it at any time without any liability.
The Company, with registered offices at 2 Circle Star Way, San Carlos, CA 94070, U.S.A., is solely responsible for the administration and participation in the Plan and the acquisition of shares of Common Stock does not, in any way, establish an employment relationship between you and the Company since you are participating in the Plan on a wholly commercial basis and your sole employer is a subsidiary of the Company (“Employer”), nor does it establish any rights between you and the Employer as the latter does not sponsor, contribute to, make any payment, grant any Award or have any relationship with the Plan, the Agreement and/or the RSU Award, all of which are sponsored solely and exclusively by the Company which is the only party responsible for the contribution of any amount pursuant to the Plan and/or the Agreement and the only party responsible for making any payment or granting any Awards thereunder. Pursuant to the foregoing, you expressly agree and recognize for all legal purposes that your participation in the Plan, and any benefit associated therewith shall not be construed as being part of, derived from, or in any way related to the employment relationship that you may have with the Employer.
Plan Document Acknowledgment.  By accepting the grant of an RSU Award, you acknowledge that you have received a copy of the Plan, have reviewed the Plan and the RSU Award Agreement in their entirety and fully understand and accept all provisions of the Plan and the RSU Award Agreement.  
In addition, by signing the RSU Award Agreement, you further acknowledge that you have read and specifically and expressly approved the terms and conditions in Section 8 of the Agreement (“RSU Award Not A Service Contract”) that clarify that the 
7.

grant, vesting or settlement of an RSU Award does not give you a right to continued service/employment, in which the following is clearly described and established: (i) participation in the Plan does not constitute an acquired right; (ii) the Plan and participation in the Plan is offered by the Company on a wholly discretionary basis; (iii) participation in the Plan is voluntary; and (iv) neither the Company nor any Affiliate is responsible for any decrease in the value of the shares of Common Stock underlying the RSU Award. 
Finally, you hereby declare that you do not reserve any action or right to bring any claim against the Company for any compensation or damages as a result of your participation in the Plan and therefore grant a full and broad release to the Employer, the Company and any Affiliate with respect to any claim that may arise under the Plan.
Tax obligations. By accepting the grant of the RSU Award and signing the Grant Notice, you acknowledge that it is your responsibility to review and confirm the tax effects that may be generated or derived from this acceptance, with your tax advisors.
You also acknowledge that you are aware that any tax triggered or derived from the granting and/or vesting of the RSU Award shall be recognized in the monthly and annual income tax return or returns that shall be filed pursuant to Mexican law and the corresponding income tax payment shall be properly, duly and timely paid, if any. It is your sole obligation to provide to your Employer, no later than 15 days after such payment was due, the evidence of the applicable monthly and annual income tax returns filed and the payment of applicable taxes.
Notwithstanding the foregoing, if your Employer is obliged to withhold the corresponding tax pursuant to applicable law, your Employer will provide you with a notice, no later than 5 days after the vesting of your RSU Award, informing you that your Employer will make the corresponding withholdings, which would substitute your obligations to make a direct filing of the monthly income tax return and the corresponding payment.
Termination of Continuous Service.  By accepting the grant of an RSU Award and signing the Grant Notice, you acknowledge that you have read and specifically and expressly approved the terms and conditions in Section 5.(a)(iv) of the Plan (“Termination of Continuous Service”) that clarify that if your Continuous Service terminates for any reason, any portion of your RSU Award that has not vested will be forfeited upon such termination and you will have no further right, title or interest in the RSU Award, the shares of Common Stock issuable pursuant to the RSU Award, or any consideration in respect of the RSU Award. 
In addition, by signing the RSU Award Agreement, you further acknowledge that you have read and specifically and expressly approved the terms and conditions in Section 8.(b)(vi) of the Agreement that clarify that for the purposes of the RSU Award, your Continuous Service will be considered terminated as of the date you are no longer actively providing services to the Company or one of its Affiliates (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any), and your right to vest in the RSU Award under the Plan, if any, will terminate as of such date and will not be extended by any notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any); and the Plan Administrator shall have the exclusive discretion to determine when you are no longer actively providing services for purposes of the RSU Award (including whether you may still be considered to be providing services while on a leave of absence). 
Language.  You acknowledge that you are sufficiently proficient in the English language, or have consulted with an advisor who is sufficiently proficient in English, so that you have a complete and accurate understanding of each and every of the terms and conditions of the Plan, the Agreement and the Grant Notice. If you have received the Plan, the Agreement, the Grant Notice, or any other document related to this RSU Award translated into a language other than English and if the meaning of the translated version is different than the English version, you expressly agree that the English version will control.
Spanish Translation
Términos y Condiciones
Renuncia de Derechos o Reclamos por Compensación.  Estas disposiciones complementan la Sección 8 del Acuerdo, la cual aclara que el otorgamiento, conclusión del período para hacer exigible (vesting) o la liquidación de su “RSU Award” no garantizan la continuación de sus servicios/relación:
Modificación.  Al aceptar el otorgamiento de su “RSU Award”, usted reconoce y acuerda que cualquier modificación del Plan o del Acuerdo de “RSU Award” o su terminación, no constituirá un cambio o detrimento de los términos y condiciones de su relación. 
8.

Declaración de Política.  El Otorgamiento de su “RSU Award” por la Compañía en virtud del Plan es unilateral y discrecional y, por lo tanto, la Compañía se reserva el derecho absoluto de modificar y discontinuar el mismo en cualquier tiempo, sin responsabilidad alguna.
La Compañía, con oficinas registradas ubicadas en 2 Circle Star Way, San Carlos, CA 94070, U.S.A., es la única responsable de la administración del Plan y de la participación en el mismo y la adquisición de Acciones no establece de forma alguna una relación de trabajo entre usted y la Compañía, ya que su participación en el Plan es completamente comercial y su único empleador es una subsidiaria de la Empresa ("Empleador"), así como tampoco establece ningún derecho entre usted y el Empleador toda vez que éste no patrocina, contribuye, hace ningún pago, otorga ninguna gratificación o compensación o tiene ninguna relación con el Plan, el Acuerdo y/o su “RSU Award”, los cuales son patrocinados única y exclusivamente por la Compañía, la cual es la única parte responsable por contribuir cualesquiera montos en términos del Plan y/o el Acuerdo y es la única parte responsable por realizar cualesquiera pagos u otorgar cualquier gratificación o compensación en términos del Plan, el Acuerdo y/o su “RSU Award”. En términos de lo anterior, usted acuerda y reconoce expresamente para todos los efectos legales a los que haya lugar que no se entenderá que su participación en el Plan, así como cualquier beneficio que derive del mismo, sean parte, deriven de o estén relacionados de cualquier forma con la relación laboral que usted pueda tener con el Empleador.
Reconocimiento del Documento del Plan.  Al aceptar el Otorgamiento de su “RSU Award”, usted reconoce que ha recibido una copia del Plan, ha revisado el mismo así como el Acuerdo de “RSU Award” en su totalidad y que ha entendido y aceptado completamente todas las disposiciones contenidas en el Plan y en el Acuerdo de “RSU Award”. 
Adicionalmente, al firmar el Acuerdo de “RSU Award”, reconoce que ha leído, y que aprueba específica y expresamente los términos y condiciones contenidos en la Sección 8 del Acuerdo ("RSU Award Not A Service Contract") en el cual se aclara que el otorgamiento, conclusión del período para hacer exigible (vesting) o la liquidación de su “RSU Award”, no garantizan la continuación de sus servicios/relación y donde además se encuentra claramente descrito y establecido lo siguiente: (i) la participación en el Plan no constituye un derecho adquirido; (ii) el Plan y la participación en el mismo es ofrecido por la Compañía de forma enteramente discrecional; (iii) la participación en el Plan es voluntaria; y (iv) ni  la Compañía, ni cualquier Filial son responsables por cualquier disminución en el valor de las Acciones en relación a su “RSU Award”.  
Finalmente, usted declara que no se reserva ninguna acción o derecho para interponer cualquier demanda en contra de la Compañía por cualquier compensación y/o daño o perjuicio alguno, como resultado de su participación en el Plan y, en consecuencia, otorga el más amplio finiquito al Empleador, así como a la Compañía y cualquier Filial con respecto a cualquier demanda que pudiera originarse en virtud del Plan.
Obligaciones fiscales. Al aceptar el otorgamiento de su “RSU Award” y al firmar el Aviso de Otorgamiento, usted reconoce que es su responsabilidad el revisar y confirmar los efectos fiscales que pudieran derivarse como consecuencia de esta aceptación, con sus asesores fiscales. 
Usted también reconoce que es de su conocimiento que cualquier impuesto generado por el otorgamiento y ejecución de su “RSU Award” deberán ser reconocidos en su declaración o declaraciones mensuales y anuales de impuesto sobre la renta que deberá ser presentada conforme a la ley aplicable y, el impuesto sobre la renta correspondiente deberá ser pagado en tiempo y forma, si hubiera alguno. Es su obligación personal entregar a su Empleador, dentro de los 15 días siguientes contados a partir de la fecha límite para efectuar dicho pago, la documentación comprobatoria aplicable de la presentación de su declaración mensual provisional de impuesto sobre la renta, así como el pago de los impuestos aplicables. 
No obstante, en caso de que su Empleador estuviese obligado a efectuar la retención de impuestos correspondiente, su Empleador le dará una notificación, dentro de los 5 días siguientes a partir del ejercicio de su “RSU Award”, con la intención de informarle que su Empleador realizará la retención de impuesto sobre la renta, la cual sustituirá su obligación de la presentación directa de la declaración mensual provisional de impuesto sobre la renta y el pago de impuestos correspondiente. 
Terminación de Servicio Continuo.  Al aceptar el otorgamiento de su “RSU Award” y firmar el Acuerdo de “RSU Award”, usted reconoce que ha leído y aprobado específicamente y de manera expresa los términos y condiciones de la Sección 5.(a)(iv) del Plan  (“Termination of Continuous Service”) la cual aclara que si su Servicio Continuo termina por cualquier razón, cualquier porción de su “RSU Award” que no haya completado el período para ser exigible (vesting) se perderá al momento de dicha terminación y usted no tendrá ningún derecho, propiedad o interés con relación a su “RSU Award”, las Acciones que pudieran emitirse en virtud de su “RSU Award” o cualquier otra forma de compensación con relación a su “RSU Award”.
Adicionalmente a lo anterior, al firmar el Acuerdo de “RSU Award”, usted reconoce que ha leído y aprobado específicamente y de manera expresa los términos y condiciones de la Sección 8.(b)(vi) del Acuerdo, la cual aclara que para efectos de su “RSU 
9.

Award”, se considerará que su Servicio Continuo ha terminado en la fecha en la cual usted deje de prestar servicios activos a la Compañía o a sus Filiales (sin importar la razón de dicha terminación o si se determina en cualquier momento que dicha terminación es invalida o violatoria a las leyes laborales de la jurisdicción donde usted preste sus servicios o los términos de su contrato de trabajo, en caso de aplicar) y que su derecho a hacer exigible (vest) su “RSU Award” en los términos del Plan, en caso de aplicar, terminará a partir de dicha fecha y no se extenderá por cualquier período de aviso previo a la terminación, de suspensión (garden leave) o cualquier período similar que sea aplicable en términos de las leyes laborales de la jurisdicción donde usted preste sus servicios o los términos de su contrato de trabajo, en caso de aplicar, así como que el Administrador del Plan tendrá la discreción exclusiva para determinar el momento a partir del cual usted no esté prestando servicios activamente para efectos de su “RSU Award” (así como para determinar si se considerará que usted está prestando servicios durante un período de ausencia [leave of absence]).
Idioma.  Usted reconoce manejar el idioma inglés lo suficiente o en su defecto, que ha consultado con un experto que maneja el idioma inglés lo suficiente para que usted tenga un entendimiento completo y preciso de todos y cada uno de los términos y condiciones del Plan, del Acuerdo y del Aviso de Otorgamiento. Si usted ha recibido una copia del Plan, el Acuerdo, el Aviso de Otorgamiento o cualquier otro documento relacionado con su “RSU Award” traducido a cualquier idioma que no sea inglés y si en su caso el significado de dicha traducción es distinto al de la versión en inglés, usted acepta expresamente que la versión en inglés prevalecerá.

10.

Oportun Financial Corporation
Stock Option Grant Notice - International
(2019 Equity Incentive Plan)

Oportun Financial Corporation (the “Company”), pursuant to its 2019 Equity Incentive Plan (the “Plan”), has granted to you (“Optionholder”) an option to purchase the number of shares of the Common Stock set forth below (the “Option”).  Your Option is subject to all of the terms and conditions as set forth herein and in the Plan, and the Stock Option Agreement (including any special terms and conditions for your country set forth in the attached appendix (the “Appendix”) and the Notice of Exercise, all of which are attached hereto and incorporated herein in their entirety.  Capitalized terms not explicitly defined herein but defined in the Plan or the Stock Option Agreement shall have the meanings set forth in the Plan or the Stock Option Agreement, as applicable.

						
	Optionholder:	
	Date of Grant:	
	Vesting Commencement Date:	
	Number of Shares of Common Stock Subject to Option:	
	Exercise Price (Per Share) (US$):	
	Total Exercise Price (US$):	
	Expiration Date:	

Type of Grant:    [Incentive Stock Option] OR [Nonstatutory Stock Option]
Exercise and 
Vesting Schedule:     Subject to the Optionholder’s Continuous Service through each applicable vesting date, the Option will vest as follows:
[1/4th of the shares vest and become exercisable one year after the Vesting Commencement Date; the balance of the shares vest and become exercisable in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the Vesting Commencement Date on the same date of the month as the Vesting Commencement Date.]
Optionholder Acknowledgements:  By your signature below or by electronic acceptance or authentication in a form authorized by the Company, you understand and agree that:
•The Option is governed by this Stock Option Grant Notice, and the provisions of the Plan and the Stock Option Agreement (including the Appendix) and the Notice of Exercise, all of which are made a part of this document.  Unless otherwise provided in the Plan, this Grant Notice and the Stock Option Agreement (including the Appendix) (together, the “Option Agreement”) may not be modified, amended or revised except in a writing signed by you and a duly authorized officer of the Company.  
•If the Option is an Incentive Stock Option, it (plus other outstanding Incentive Stock Options granted to you) cannot be first exercisable for more than $100,000 in value (measured by exercise price) in any calendar year.  Any excess over $100,000 is a Nonstatutory Stock Option.
•You consent to receive this Grant Notice, the Stock Option Agreement, the Plan, the Prospectus and any other Plan-related documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.  
•You have read and are familiar with the provisions of the Plan, the Stock Option Agreement, the Notice of Exercise and the Prospectus.  In the event of any conflict between the provisions in this Grant Notice, the Option Agreement, the Notice of Exercise, or the Prospectus and the terms of the Plan, the terms of the Plan shall control.  
11.

•The Stock Option Agreement sets forth the entire understanding between you and the Company regarding the acquisition of Common Stock and supersedes all prior oral and written agreements, promises and/or representations on that subject with the exception of other equity awards previously granted to you and any written employment agreement, offer letter, severance agreement, written severance plan or policy, or other written agreement between the Company and you in each case that specifies the terms that should govern this Option.  
•Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and any counterpart so delivered will be deemed to have been duly and validly delivered and be valid and effective for all purposes.
    
						
		

Attachments:  Stock Option Agreement (including the Appendix), 2019 Equity Incentive Plan, Notice of Exercise 

12.

Attachment I
Stock Option Agreement

13.

Attachment II 
2019 Equity Incentive Plan

14.

Attachment III 
Notice of Exercise

15.

Oportun Financial Corporation
2019 Equity Incentive Plan

Stock Option Agreement – International
Non-Statutory Stock Option
As reflected by your Stock Option Grant Notice (“Grant Notice”) Oportun Financial Corporation (the “Company”) has granted you an option under its 2019 Equity Incentive Plan (the “Plan”) (including any special terms and conditions for  your country set forth in the attached appendix (the “Appendix”)) to purchase a number of shares of Common Stock at the exercise price indicated in your Grant Notice (the “Option”).  Capitalized terms not explicitly defined in this Agreement but defined in the Grant Notice or the Plan shall have the meanings set forth in the Grant Notice or Plan, as applicable.  The terms of your Option as specified in the Grant Notice and this Stock Option Agreement constitute your Option Agreement.
The general terms and conditions applicable to your Option are as follows:
18.    Governing Plan Document.  Your Option is subject to all the provisions of the Plan, including but not limited to the provisions in:
a.    Section 6 regarding the impact of a Capitalization Adjustment, dissolution, liquidation, or Corporate Transaction on your Option;
b.    Section 9(e) regarding the Company’s or your employer’s retained rights to terminate your Continuous Service notwithstanding the grant of the Option; and 
c.    Section 8(c) regarding the tax and social security consequences of your Option.  
Your Option is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan.  In the event of any conflict between the Option Agreement and the provisions of the Plan, the provisions of the Plan shall control.  
19.    Exercise.
a.    You may generally exercise the vested portion of your Option for whole shares of Common Stock at any time during its term by delivery of payment of the exercise price and applicable tax and social security withholding obligations and other required documentation to the Plan Administrator in accordance with the exercise procedures established by the Plan Administrator, which may include an electronic submission.  Please review Sections 4(i), 4(j) and 7(b)(v) of the Plan, which may restrict or prohibit your ability to exercise your Option during certain periods.
b.    To the extent permitted by Applicable Law, you may pay your Option exercise price as follows:
1)    cash, check, bank draft or money order;  
2)    subject to Company and/or Committee consent at the time of exercise, pursuant to a “cashless exercise” program as further described in Section 4(c)(ii) of the Plan if at the time of exercise the Common Stock is publicly traded;
3)    subject to Company and/or Committee consent at the time of exercise, by delivery of previously owned shares of Common Stock as further described in Section 4(c)(iii) of the Plan; or
4)    subject to Company and/or Committee consent at the time of exercise by a “net exercise” arrangement as further described in Section 4(c)(iv) of the Plan.
20.    Term.  You may not exercise your Option before the commencement of its term or after its term expires.  The term of your Option commences on the Date of Grant and expires upon the earliest of the following:
16.

a.    immediately upon the termination of your Continuous Service for Cause;
b.    three months after the termination of your Continuous Service for any reason other than Cause, Disability or death;
c.    12 months after the termination of your Continuous Service due to your Disability;
d.    18 months after your death if you die during your Continuous Service;
e.    immediately upon a Corporate Transaction if the Board has determined that the Option will terminate in connection with a Corporate Transaction,
f.    the Expiration Date indicated in your Grant Notice; or
g.    the day before the 10th anniversary of the Date of Grant.
Notwithstanding the foregoing, if you die during the period provided in Section 3(b) or 3(c) above, the term of your Option shall not expire until the earlier of (i) eighteen months after your death, (ii) upon any termination of the Option in connection with a Corporate Transaction, (iii) the Expiration Date indicated in your Grant Notice, or (iv) the day before the tenth anniversary of the Date of Grant.  Additionally, the Post-Termination Exercise Period of your Option may be extended as provided in Section 4(i) of the Plan.
21.    Withholding Obligations.  As further provided in Section 8 of the Plan: (a) you may not exercise your Option unless the applicable tax and social security withholding obligations are satisfied, and (b) at the time you exercise your Option, in whole or in part, or at any time thereafter as requested by the Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “cashless exercise” pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax and social security withholding obligations, if any, which arise in connection with the exercise of your Option in accordance with the withholding procedures established by the Company.  Accordingly, you may not be able to exercise your Option even though the Option is vested, and the Company shall have no obligation to issue shares of Common Stock subject to your Option, unless and until such obligations are satisfied.  In the event that the amount of the Company’s withholding obligation in connection with your Option was greater than the amount actually withheld by the Company, you agree to indemnify and hold the Company harmless from any failure by the Company to withhold the proper amount.
22.    Transferability.  Except as otherwise provided in Section 4(e) of the Plan, your Option is not transferable, except to your personal representative on your death, and is exercisable during your life only by you or by your personal representative after your death.  
23.    Corporate Transaction.  Your Option is subject to the terms of any agreement governing a Corporate Transaction involving the Company, including, without limitation, a provision for the appointment of a stockholder representative that is authorized to act on your behalf with respect to any escrow, indemnities and any contingent consideration.
24.    Option Not A Service Contract. Your Option is not an employment or service contract, and nothing in your Option will be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your Option will obligate the Company or an Affiliate, their respective stockholders, boards of directors, officers or employees to continue any relationship that you might have as a Director or Consultant for the Company or an Affiliate. By accepting your Option, you acknowledge, understand and agree that: 
a.    the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to the extent permitted under the Plan; 
b.    the grant of your Option is voluntary and occasional and does not create any contractual or other right to receive future grants of options (whether on the same or different terms), or benefits in lieu of options, even if options have been granted in the past;
17.

c.    your Option and any shares of Common Stock acquired under the Plan on exercise of your Option, and the income and value of same, are not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, holiday pay, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;
d.    the future value of the shares of Common Stock underlying the Option is unknown, indeterminable, and cannot be predicted with certainty;
e.    neither the Company nor any Affiliate shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of your Option or of any amounts due to you pursuant to the exercise of your Option or the subsequent sale of any shares of Common Stock received;
f.    for purposes of the Option, your Continuous Service will be considered terminated as of the date you are no longer actively providing services to the Company or one of its Affiliates (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any), and unless otherwise expressly provided in this Option Agreement or determined by the Company, (i) your right to vest in the Option under the Plan, if any, and (ii) the period (if any) during which you may exercise the Option after such termination of Continuous Service will terminate as of such date and in each instance will not be extended by any notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any); and  the Plan Administrator shall have the exclusive discretion to determine when you are no longer actively providing services for purposes of the Option (including whether you may still be considered to be providing services while on a leave of absence); and
g.    no claim or entitlement to compensation or damages shall arise from forfeiture of this Option resulting from the termination of your Continuous Service (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment or service agreement, if any), and in consideration of the grant of this Option to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or any Affiliate, waive your ability, if any, to bring any such claim, and release the Company and any Affiliate from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim.
25.    No Liability for Taxes.  As a condition to accepting the Option, you hereby (a) agree to not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates related to tax or social security liabilities arising from the Option or other Company compensation and (b) acknowledge that you were advised to consult with your own personal tax, financial and other legal advisors regarding the tax and social security consequences of the Option and have either done so or knowingly and voluntarily declined to do so. 
26.    Severability.  If any part of this Option Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Option Agreement or the Plan not declared to be unlawful or invalid.  Any Section of this Option Agreement (or part of such a Section) so declared to be unlawful or invalid will, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid
27.    Other Documents.  You hereby acknowledge receipt of or the right to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Prospectus.  In addition, you acknowledge receipt of the Company’s Trading Policy.
28.    No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying shares of Common Stock.  You should consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.
29.    Data Privacy.
a.    You explicitly and unambiguously acknowledge and consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this document by and among, as applicable, your employer, the Company and its Affiliates for the exclusive purpose of implementing, administering and managing your participation in the Plan. You understand that the Company, its Affiliates and your employer hold certain personal information about you, including, 
18.

but not limited to, name, home address and telephone number, date of birth, social security number (or other identification number), salary, nationality, job title, any shares of stock or directorships held in the Company, details of all options or any other entitlement to shares of Common Stock awarded, canceled, purchased, exercised, vested, unvested or outstanding in your favor for the purpose of implementing, managing and administering the Plan (“Data”). You understand that the Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in your country or elsewhere, in particular in the US, and that the recipient country may have different data privacy laws providing less protections of your personal data than your country. You may request a list with the names and addresses of any potential recipients of the Data by contacting as the stock plan administrator at the Company (the “Stock Plan Administrator”). You acknowledge that the recipients may receive, possess, process, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data, as may be required to a broker or other third party with whom you may elect to deposit any shares of Common Stock acquired upon the exercise of your Option. You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You may, at any time, view the Data, request additional information about the storage and processing of the Data, require any necessary amendments to the Data or refuse or withdraw the consents herein, in any case without cost, by contacting the Stock Plan Administrator in writing.
b.    For the purposes of operating the Plan in the European Union (including the UK, if the UK leaves the European Union), the Company will collect and process information relating to you in accordance with the privacy notice from time to time in force.
30.    Language. You acknowledge that you are sufficiently proficient in the English language, or have consulted with an advisor who is sufficiently proficient in English, so as to allow you to understand the terms and conditions of this Option Agreement. If you have received this Option Agreement, or any other document related to your Option and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.
31.    Foreign Asset/Account, Exchange Control and Tax Reporting.  You may be subject to foreign asset/account, exchange control and/or tax reporting requirements as a result of the acquisition, holding and/or transfer of shares of Common Stock or cash (including dividends and the proceeds arising from the sale of shares of Common Stock) derived from your participation in the Plan in, to and/or from a brokerage/bank account or legal entity located outside your country.  The Applicable Laws in your country may require that you report such accounts, assets and balances therein, the value thereof and/or the transactions related thereto to the applicable authorities in such country. You may also be required to repatriate sale proceeds or other funds received as a result of your participation in the Plan to your country through a designated bank or broker within a certain time after receipt.  You acknowledge that it is your responsibility to be compliant with such regulations and you are encouraged to consult with your personal legal advisor for any details.
32.    Appendix. Notwithstanding any provisions in this Option Agreement, your Option shall be subject to the special terms and conditions for your country set forth in the Appendix attached to this Option Agreement. Moreover, if you relocate to one of the countries included therein, the terms and conditions for such country will apply to you to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Option Agreement.
33.    Questions.  If you have questions regarding these or any other terms and conditions applicable to your Option, including a summary of the applicable federal income tax consequences please see the Prospectus.
*  *  *  *
This Option Agreement (including the Appendix) will be deemed to be signed by you upon the signing by you of the Stock Option Grant Notice to which it is attached.

19.

Appendix to Option Agreement
    This Appendix includes special terms and conditions that govern the Option granted to you under the Plan if you reside and/or work in one of the countries listed below.
    The information contained herein is general in nature and may not apply to your particular situation, and you are advised to seek appropriate professional advice as to how the relevant laws in your country may apply to your situation. If you are a citizen or resident of a country other than the one in which you are currently working and/or residing, transfer employment and/or residency to another country after the Date of Grant, are a consultant, change employment status to a consultant position, or are considered a resident of another country for local law purposes, the Company shall, in its discretion, determine the extent to which the special terms and conditions contained herein shall be applicable to you.  References to your Employer shall include any entity that engages your services.
India
Exercise Restriction.  The following supplements the Grant Notice and the Stock Option Agreement.
You must comply at the time of exercise with applicable laws and regulations of India, including but not limited to the Foreign Exchange Management Act, 1999 of India and the rules, regulations and amendments thereto (“FEMA”).  If deemed necessary or advisable to comply with applicable laws, including FEMA, the Company may require you (notwithstanding any provision in the Grant Notice or Stock Option Agreement) to pay for the shares purchased on exercise, and any tax required to be withheld by law, through a cashless exercise method.  Upon purchasing the publically traded stock under the Plan, you will not be required to immediately sell the stock. However, should you subsequently sell the stock purchased under the Plan, you will be required to repatriate any sale proceeds to India immediately upon such sale and in any event within 90 days of the date of sale. 
Further, the Plan and the corresponding documents have neither been delivered for registration nor are they intended to be registered with any regulatory authorities in India. These documents are not intended for distribution and are meant solely for the consideration of the person to whom they are addressed and should not be reproduced by you.
Mexico
Acknowledgement of the Agreement.  In accepting the Option, you acknowledge that you have received a copy of the Plan, have reviewed the Plan and the Option Agreement in their entirety and fully understand and accept all provisions of the Plan and the Option Agreement.  You further acknowledge that you have read and specifically and expressly approve the terms and conditions of Section 7 (“Option not a Service Contract”) of the Option Agreement, in which the following is clearly described and established: 
a)    That your Option is not an employment or service contract and that nothing in your Option (including the grant, vesting or exercise of your Option) will be deemed to create in any way whatsoever any obligation for the Company or for an Affiliate to continue your employment.
b)    That your participation in the Plan does not constitute an acquired right. 
c)    That the Plan and your participation in the Plan is offered by the Company on a wholly discretionary basis. 
d)    That your participation in the Plan is voluntary.
e)    That the Company and its Affiliates are not responsible for any decrease in the value of the shares of Common Stock granted under the Plan. 
Labor Law Policy and Acknowledgement.  By participating in the Plan, you expressly recognize that the Company, Oportun Financial Corporation, with registered offices at 1600 Seaport Blvd., Suite 250, Redwood City, CA 94063, U.S.A., is solely responsible for the administration of the Plan and that your participation in the Plan and acquisition of shares of Common Stock do not constitute an employment relationship between you and the Company since you are participating in the Plan on a wholly commercial basis and your sole employer is a subsidiary of the Company (“Employer”). 
Based on the foregoing, you expressly recognize that the Plan and any benefits you may derive from participation in the Plan do not establish any rights between you and the Employer or any other Affiliate, and do not form part of the employment conditions 
20.

and/or benefits provided by your Employer, and any modification of the Plan or its termination will not constitute a change or impairment of the terms and conditions of your employment as the Employer does not sponsor, contribute to, grant any Options or have any relationship with the Plan, the Option Agreement and/or the Options, all of which are sponsored solely and exclusively by the Company which is the only party responsible for the contribution of any amount pursuant to the Plan and/or the Option Agreement and the only party responsible for granting any Options thereunder. Pursuant to the foregoing, you expressly agree and recognize for all legal purposes that your participation in the Plan, and any benefit associated therewith shall not be construed as being part of, derived from or in any way related to the employment relationship that you may have with the Employer.
You further understand that participation in the Plan is as a result of a unilateral and discretionary decision of the Company, therefore, the Company reserves the absolute right to amend and/or discontinue your participation at any time without any liability to you.
Finally, you hereby declare that you do not reserve any action or right to bring any claim against the Company for any compensation or damages regarding any provision of the Plan or the benefits derived under the Plan, and you therefore grant a full and broad release to the Company, its Affiliates, its shareholders, officers, agents or legal representatives with respect to any claim that may arise.
Tax obligations. By accepting the grant of the Option and signing the Grant Notice, you acknowledge that it is your responsibility to review and confirm the tax effects that may be generated or derived from this acceptance, with your tax advisors.
You also acknowledge that you are aware that any tax triggered or derived from the granting and/or vesting of the Option shall be recognized in the applicable tax return or returns that shall be filed pursuant to Mexican law and the corresponding income tax payment shall be properly, duly and timely paid, if any. It is your sole obligation to provide to your Employer, no later than 15 days after such payment was due, the evidence of the applicable income tax returns filed and the payment of applicable taxes.
Notwithstanding the above, if your Employer is obliged to withhold the corresponding tax pursuant to applicable law, your Employer will provide you with a notice, no later than 5 days after the vesting of your Option, informing you that your Employer will make the corresponding withholding tax, which would substitute your obligations of a direct filing of the monthly income tax return and the corresponding payment.
Termination of Continuous Service for Cause.  By accepting the grant of the Option and signing the Grant Notice, you acknowledge that you have read and specifically and expressly approved the terms and conditions in Section 4.(g) of the Plan (“Termination of Continuous Service for Cause”) that clarify that if you Continuous Service is terminated for Cause, your Options will terminate and be forfeited immediately upon such termination of Continuous Service, and you will be prohibited from exercising any portion (including any vested portion) of such Awards on and after the date of such termination of Continuous Service and you will have no further right, title or interest in such forfeited Award, the shares of Common Stock subject to the forfeited Award, or any consideration in respect of the forfeited Award.
In addition, by signing the Grant Notice, you further acknowledge that you have read and specifically and expressly approved the definition of “Cause” included in the Plan, which clarifies that “Cause” has the meaning ascribed to such term in any written agreement between you and the Company defining such term and, in the absence of such agreement, such term means, with respect to you, the occurrence of any of the following events:  (i) your attempted commission of, or participation in, a fraud or act of dishonesty against the Company; (ii) your intentional, material violation of any contract or agreement between you and the Company or of any statutory duty owed to the Company; (iii)  your unauthorized use or disclosure of the Company’s confidential information or trade secrets; or (iv) your gross misconduct. The determination that a termination of your Continuous Service is either for Cause or without Cause will be made by the Board with respect to Participants who are executive officers of the Company and by the Company’s Chief Executive Officer with respect to Participants who are not executive officers of the Company.  Any determination by the Company that your Continuous Service was terminated with or without Cause for the purposes of outstanding Awards held by you will have no effect upon any determination of the rights or obligations of the Company yourself for any other purpose.
In connection with the foregoing, you expressly agree and accept that the Board or the Company’s Chief Executive Officer as determined above, shall determine at their sole discretion whether a termination of your Continuous Service is either for Cause or without Cause, without the need of following any process to terminate your employment with cause under employment laws in the jurisdiction where you are employed and/or having any authority issuing any resolution supporting such termination with cause. 
21.

Language.  You acknowledge that you are sufficiently proficient in the English language, or have consulted with an advisor who is sufficiently proficient in English, so that you have a complete and accurate understanding of each and every of the terms and conditions of the Plan, the Option Agreement and the Grant Notice. If you have received the Plan, the Option Agreement, the Grant Notice, or any other document related to the Option translated into a language other than English and if the meaning of the translated version is different than the English version, you expressly agree that the English version will control.
Spanish Translations:
Reconocimiento del Acuerdo.  Al aceptar la Opción (Option), usted reconoce que ha recibido una copia del Plan, ha revisado el mismo y el Acuerdo de Opción (Option) en su totalidad y comprende y está de acuerdo con todas las disposiciones tanto del Plan como del Acuerdo de Opción (Option).  Asimismo, reconoce que ha leído y específica y expresamente aprueba los términos y condiciones establecidos en la Sección 7 del Acuerdo de Opción (Option), en el cual se establece claramente que: 
a)    Mi Opción (Option) no es un contrato de trabajo o de servicios y que nada en mi Opción (Option) (incluyendo el otorgamiento, conclusión del período para hacer exigible [vesting] o el ejercicio de mi Opción [Option]) dará lugar de ninguna manera a cualquier obligación de la Compañía o una Filial a continuar o mantener mis servicios/relación.
b)    Mi participación en el Plan de ninguna manera constituye un derecho adquirido. 
c)    El Plan y mi participación en el mismo es una oferta hecha por parte de la Compañía de forma completamente discrecional. 
d)    Que mi participación en el Plan es voluntaria. 
d)    Que la Compañía y sus Filiales no son responsables de cualquier pérdida en el valor de las Acciones Ordinarias otorgadas mediante el Plan.
Política de Legislación Laboral y Reconocimiento.  Al participar en el Plan, Usted expresamente reconoce que la Compañía, Oportun Financial Corporation., con oficinas registradas en 1600 Seaport Blvd., Suite 250, Redwood City, CA 94063, U.S.A., es exclusivamente responsable de la administración del Plan y que su participación en el Plan y la adquisición de Acciones no constituye una relación de trabajo entre Usted y la Compañía, toda vez que Usted está participando en el Plan en una base enteramente comercial y su único empleador es una subsidiaria de la Empresa ("Empleador"). 
Con base en lo anterior, Usted expresamente reconoce que el Plan y cualquier beneficio que pueda recibir de la participación en el Plan no establece derecho alguno entre Usted y el Empleador, o cualquier otra Filial, y no forma parte de las condiciones de trabajo y/o prestaciones proporcionadas por el Empleador, y que cualquier modificación al Plan o la terminación del mismo no constituirán un cambio o detrimento de sus términos y condiciones de trabajo. Lo anterior toda vez que el Empleador no patrocina, contribuye, otorga ninguna Opción (Option) o tiene ninguna relación con el Plan, el Acuerdo de Opción (Option) y/o su Opción (Option), los cuales son patrocinados única y exclusivamente por la Compañía, la cual es la única parte responsable por contribuir cualesquiera montos en términos del Plan y/o el Acuerdo de Opción (Option) y es la única parte responsable por otorgar cualquier Opción (Option) en términos del Plan. En términos de lo anterior, usted acuerda y reconoce expresamente para todos los efectos legales a los que haya lugar que no se entenderá que su participación en el Plan, así como cualquier beneficio que derive del mismo, sean parte, deriven de o estén relacionados de cualquier forma con la relación laboral que usted pueda tener con el Empleador.
A su vez, Usted comprende que la participación en el Plan se da como resultado de una decisión unilateral y discrecional de la Compañía; por lo que la Compañía se reserva el derecho absoluto de modificar y/o discontinuar su participación en cualquier momento y sin ninguna responsabilidad hacia Usted.
Finalmente, Usted en este acto declara que no se reserva ninguna acción o derecho para intentar reclamación alguna en contra de la Compañía por cualquier compensación, daños y perjuicios relacionada con cualquier disposición del Plan o de los beneficios derivados del mismo, por lo que Usted otorga el más amplio y completo finiquito a la Compañía, sus Filiales, sus accionistas, directivos, agentes o representantes legales en relación a cualquier reclamación que pueda presentarse.
Obligaciones fiscales. Al aceptar el otorgamiento de su Opción y al firmar el Aviso de Otorgamiento, usted reconoce que es su responsabilidad el revisar y confirmar los efectos fiscales que pudieran derivarse como consecuencia de esta aceptación, con sus asesores fiscales. 
22.

Usted también reconoce que es de su conocimiento que cualquier impuesto generado por el otorgamiento y ejecución de la Opción deberán ser reconocidos en su declaración o declaraciones mensuales y anuales de impuesto sobre la renta que deberá ser presentada conforme a la ley aplicable y, el impuesto sobre la renta correspondiente deberá ser pagado en tiempo y forma, si hubiera alguno. Es su obligación personal entregar a su Empleador, dentro de los 15 días siguientes contados a partir de la fecha límite para efectuar dicho pago, la documentación comprobatoria aplicable de la presentación de su declaración mensual provisional de impuesto sobre la renta, así como el pago de los impuestos aplicables. 
No obstante, en caso de que su Empleador estuviese obligado a efectuar la retención de impuestos correspondiente, su Empleador le dará una notificación, dentro de los 5 días siguientes a partir del ejercicio de su Opción, con la intención de informarle que su Empleador realizará la retención de impuesto sobre la renta, la cual sustituirá su obligación de la presentación directa de la declaración provisional de impuesto sobre la renta y el pago de impuestos correspondiente. 
Terminación de Servicio Continuo con Causa.  Al aceptar el otorgamiento de su Opción (Option) y firmar el Aviso de Otorgamiento, usted reconoce que ha leído y aprobado específicamente y de manera expresa los términos y condiciones de la Sección 4.(g) del Plan  (“Termination of Continuous Service for Cause”) la cual aclara que si su Servicio Continuo termina por Causa, su Opción (Option) se terminarán y cancelarán inmediatamente en seguida a dicha terminación de Servicio Continuo, por lo cual usted tendrá prohibido ejercitar cualquier porción (incluyendo cualquier porción que haya concluido el período para hacer exigible [vested]) de dichas Gratificaciones durante o después de la fecha de dicha terminación de Servicio Continuo y usted no tendrá ningún derecho, propiedad o interés en dicha Gratificación cancelada, las Acciones relacionadas a la Gratificación cancelada o cualquier compensación con relación a dicha Gratificación cancelada.
Adicionalmente a lo anterior, al firmar el Aviso de Otorgamiento, usted reconoce que ha leído y aprobado específicamente y de manera expresa la definición de “Causa” incluida en el Plan, la cual establece que “Causa” tendrá el significado que se le otorgue a dicho término en cualquier contrato por escrito entre usted y la Compañía que defina dicho término y que en la ausencia del tal contrato, dicho término significará con relación a usted, la actualización de cualquier de los siguientes eventos: (i) que intente cometer o participe en fraude o en un acto de deshonestidad en contra de la Compañía; (ii) su violación intencional, material de cualquier contrato o acuerdo entre usted y la Compañía o de cualquier deber u obligación legal que usted tenga con la Compañía; (iii) su uso no autorizado o divulgación de información confidencial o secretos industriales de la Compañía; o (iv) una falta grave de su parte. La determinación que la terminación de su Servicio Continuo es con o sin Causa se hará por el Consejo con relación a Participantes que sean funcionarios ejecutivos de la Compañía y por el Director General de la Compañía con relación a Participantes que no sean funcionarios ejecutivos de la Compañía. Cualquier determinación por la Compañía respecto a que su Servicio Continuo haya sido terminada con o sin Causa para efecto de cualesquiera Gratificaciones pendientes que usted pudiera tener, no tendrán efecto en la determinación de los derechos u obligaciones de la Compañía para con usted para cualquier otro propósito.
Con relación a lo anterior, usted acuerda expresamente y está de acuerdo en que el Consejo o el Director General de la Compañía como se determina en el párrafo anterior, determinarán a su entera discreción si la terminación de su Servicio Continuo es con o sin Causa, sin la necesidad de seguir ningún proceso para terminar sus servicios/relación con causa de conformidad con las leyes laborales en la jurisdicción donde usted preste sus servicios y sin requerir que ninguna autoridad emita ninguna resolución aprobando dicha terminación con causa.  
Idioma.  Usted reconoce manejar el idioma inglés lo suficiente o en su defecto, que ha consultado con un experto que maneja el idioma inglés lo suficiente para que usted tenga un entendimiento completo y preciso de todos y cada uno de los términos y condiciones del Plan, del Acuerdo de Opción (Option) y del Aviso de Otorgamiento. Si usted ha recibido una copia del Plan, el Acuerdo de Opción (Option), el Aviso de Otorgamiento o cualquier otro documento relacionado con su Opción (Option) traducido a cualquier idioma que no sea inglés y si en su caso el significado de dicha traducción es distinto al de la versión en inglés, usted acepta expresamente que la versión en inglés prevalecerá.

23.

Oportun Financial Corporation 
(2019 Equity Incentive Plan)
NOTICE OF EXERCISE - INTERNATIONAL
Oportun Financial Corporation
2 Circle Star Way
San Carlos, CA 94070    Date of Exercise: _______________
This constitutes notice to Oportun Financial Corporation (the “Company”) that I elect to purchase the below number of shares of Common Stock of the Company (the “Shares”) by exercising my Option for the price set forth below.  Capitalized terms not explicitly defined in this Notice of Exercise but defined in the Grant Notice, Option Agreement (including the Appendix) or 2019 Equity Incentive Plan (the “Plan”) shall have the meanings set forth in the Grant Notice, Option Agreement (including the Appendix) or Plan, as applicable.  Use of certain payment methods is subject to Company and/or Committee consent and certain additional requirements set forth in the Option Agreement (including the Appendix) and the Plan. 
															
	Type of option (check one):	

	Nonstatutory 
	

	Date of Grant:	

	_______________
	
	Number of Shares as
to which Option is
exercised:	

	_______________
	
	Certificates to be
issued in name of:	

	_______________
	
	Total exercise price:	

	US$___________
	
	Cash, check, bank draft or money order delivered herewith:	

	US$___________
	
	Value of ________ Shares delivered herewith:	

	US$___________
	
	Regulation T Program (cashless exercise)
	

	US$__________
		
	Value of _______ Shares pursuant to net exercise:
	

	US$__________
		
	

	

	

		

By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the terms of the Plan including, and (ii) to satisfy the tax or social security withholding obligations, if any, relating to the exercise of this Option as set forth in the Option Agreement.
Very truly yours, 

____________________________
24.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}]]