Document:

Exhibit

AMENDMENT NO. 3 TO CREDIT AGREEMENT WITH CONSENT
This AMENDMENT NO. 3 TO CREDIT AGREEMENT WITH CONSENT (this “Agreement”) is entered into as of June 11, 2018, and is by and among Pioneer Financial Services, Inc., a Missouri corporation, Pioneer Funding, Inc., a Nevada corporation, Pioneer Services Corp., a Missouri corporation formerly known as PSLF, Inc., and Pioneer Services Sales Finance, Inc., a Nevada corporation, jointly and severally (individually and collectively, the “Company”), the Required Lenders, and CIBC Bank USA, formerly known as The PrivateBank and Trust Company, as administrative agent for the Lenders (the “Administrative Agent”).
Recitals
		
	A.
	Each Company, the Administrative Agent and Lenders are party to that certain Credit Agreement dated as of December 23, 2015 (as amended from time to time, the “Credit Agreement”).  

		
	B.
	Each Company, the Required Lenders, and the Administrative Agent have agreed to the provisions set forth herein on the terms and conditions contained herein.

Agreement
Therefore, in consideration of the mutual agreements herein and other sufficient consideration, the receipt of which is hereby acknowledged, each Company, the Administrative Agent and the Required Lenders hereby agree as follows:
1.Definitions.  All references to the “Agreement” or the “Credit Agreement” in the Credit Agreement and in this Agreement shall be deemed to be references to the Credit Agreement as it may be amended, restated, extended, renewed, replaced, or otherwise modified from time to time.  Capitalized terms used and not otherwise defined herein have the meanings given them in the Credit Agreement.

2.Effectiveness of Agreement.  This Agreement shall become effective as of the date first written above, but only if the documents and agreements set forth on Exhibit A have been executed and delivered to the Administrative Agent by the parties thereto, the Company has paid the fee payable to the Administrative Agent set forth in the fee letter of even date herewith by and among the Company and the Administrative Agent (the “Administrative Agent Amendment Fee”) and the Administrative Agent has received the other document, deliveries, and payments set forth on Exhibit A.

3.Definition of PrivateBank.  All references in the Credit Agreement and the other Loan Documents to “The PrivateBank and Trust Company” are hereby amended to read “CIBC Bank USA, formerly known as The PrivateBank and Trust Company,” and each reference in the Credit Agreement or any other Loan Document to “PrivateBank” are hereby amended to read “CIBC”.

4.Consents to Sale of MidCountry Bank.  The Company has advised the Administrative Agent and the Lenders that MidCountry Financial Corp, a Georgia corporation (“Holdings”), desires to sell to MidCountry Acquisition Corp., a Delaware limited liability company (the “Buyer”), 100% of the issued and outstanding Capital Securities of MidCountry Bank, FSB, a federal savings bank (“MidCountry Bank”; and said Capital Securities being the “Shares”), pursuant to the terms of a Stock Purchase Agreement by and among Holdings, MidCountry Bank, and the Buyer in the form and substance attached hereto as Exhibit B-1 as the foregoing may be amended, modified, restated or supplemented, provided that any such amendment, modification, restatement or supplement shall not be effective without the Administrative Agent’s prior written consent (the “Purchase Agreement”), and the Termination and Depreciation Cost Agreement by and between MidCountry Bank and Holdings, attached hereto as Exhibit B-2 as the foregoing may be amended, modified, restated or supplemented, provided that any such amendment, modification, restatement or supplement shall not be effective without the Administrative Agent’s prior written consent (the “Side Agreement”; and the Side Agreement and the Purchase Agreement, as either of the foregoing may be amended, modified, 

restated or supplemented in accordance with the terms hereof, collectively, the “Purchase Documents”; said sale and the transactions to occur upon the consummation of such sale as described in the Purchase Agreement are collectively referred to in this Agreement as the “MidCountry Bank Sale”).  
In order to effectuate the MidCountry Bank Sale, the Company has requested that the Administrative Agent and the Lenders consent to Holdings and MidCountry Bank entering into the Purchase Agreement and the consummation of the MidCountry Bank Sale.  Furthermore, in connection with the MidCountry Bank Sale, the Company has requested that the Administrative Agent, effective upon the consummation of the MidCountry Bank Sale, enter into a new LSMS Agreement in the form and substance attached hereto as Exhibit C (the “New LSMS Agreement”).  The consent of the Required Lenders and the Administrative Agent to the MidCountry Bank Sale is required under Section 11.4 of the Credit Agreement, and the consent of the Required Lenders and the Administrative Agent to the entry into the New LSMS Agreement is required under the terms of the LSMS Agreement and Section 15.1 of the Credit Agreement.
Subject to the terms and conditions of this Agreement, and upon the effectiveness of this Agreement, and notwithstanding anything contained in the Loan Documents to the contrary, the Required Lenders and the Administrative Agent hereby (A) consent to the entry by MidCountry Bank and Holdings into the Purchase Agreement in the form and substance attached hereto as Exhibit B, and (B) subject to the satisfaction of the following conditions (collectively, the “Conditions”), consent to the MidCountry Bank Sale and the entry by the Company and MidCountry Bank into the New LSMS Agreement: 
		
	(i)
	the MidCountry Bank Sale is consummated pursuant to and in accordance with the terms of the Purchase Agreement; 

		
	(ii)
	the Company shall have delivered to the Administrative Agent a certificate in form and substance satisfactory to the Administrative Agent certifying that (a) no Unmatured Event of Default or Event of Default has occurred and is then continuing, nor would an Unmatured Event of Default or Event of Default occur as a result of the consummation of the MidCountry Bank Sale; (b) all Regulatory Approvals (as defined in the Purchase Agreement) required to consummate the MidCountry Bank Sale have been obtained and remain in full force and effect and all waiting periods relating to such approvals have expired, together with copies of all material consent letters and authorizations; (c) none of Holdings, the Buyer or MidCountry Bank is subject to any order, decree or injunction of a court or agency of competent jurisdiction, and no statute, rule or regulation shall have been enacted, entered, promulgated, interpreted, applied or enforced by any Governmental Authority, that permanently enjoins or prohibits the sale of the Shares or, in any material respect, the consummation of the MidCountry Bank Sale; and (d) no claim (including counterclaim), action, suit or proceeding, whether civil, criminal, or administrative, or by or before a Governmental Authority has been instituted or threatened against Holdings, MidCountry Bank, the Buyer, or any of their respective Affiliates seeking to restrain or prohibit the consummation of the MidCountry Bank Sale;

		
	(iii)
	the MidCountry Bank Sale shall be fully consummated on or before November 30, 2018;

		
	(iv)
	the Company shall have delivered to the Administrative Agent each of the following in form and substance satisfactory to the Administrative Agent: 

		
	(a)
	the New LSMS Agreement, in the form and substance of Exhibit C attached hereto, and duly executed by MidCountry Bank and each Company; 

		
	(b)
	the Side Agreement duly executed by each party thereto;

		
	(c)
	resolutions of MidCountry Bank authorizing the New LSMS Agreement, the MidCountry Bank Sale and the transactions related thereto; 

		
	(d)
	amendments, modifications, reaffirmations or restatements with respect the eOriginal Agreement, the Affiliate Fee Sharing Agreement, the Expense Sharing Agreement, and any documents relating thereto;

		
	(e)
	reaffirmation of the control agreement with eOriginal by each party thereto; 

		
	(f)
	Consumer Lending Platform sublicenses necessary or desirable so that MidCountry Bank can perform its obligations under the New LSMS Agreement;

		
	(g)
	such other documents, agreements, resolutions, certificates and opinions as may be requested by the Administrative Agent or the Required Lenders; and

		
	(h)
	a copy of each of the resolutions, opinions, certificates, and each other document and instrument entered into or otherwise delivered in connection with the MidCountry Bank Sale.  

If any Condition has not been satisfied in full on or before November 30, 2018, or if any Condition does not remain satisfied in full on said date, then the consent of the Administrative Agent and the Required Lenders under this Section 4 shall be null and void and of no force and effect.  The Company hereby acknowledges and agrees that it will be an immediate Event of Default if the transactions described in this Section 4 are consummated without the consent of the Required Lenders and the Administrative Agent.
The consents contained in this Section 4 are specific in intent and are valid only for the specific purpose for which given.  Nothing contained herein obligates the Administrative Agent or the Lenders to agree to any additional consents or waivers of any provisions of any of the Loan Documents.
5.Delivery of Purchase Agreement.  Within five (5) Business Days following the date hereof (or such longer period as may be approved in writing by the Administrative Agent in its sole discretion), the Company shall deliver to the Administrative Agent a copy of the fully-executed Purchase Agreement  with all attachments thereto.  The failure to deliver the fully-executed Purchase Agreement with all attachments thereto in accordance with the preceding sentence shall be an immediate Event of Default.

6.Amendments to the Credit Agreement.  The Credit Agreement is hereby amended as follows effective upon the date hereof:

1.New Definitions.  The following new definitions are hereby added in proper alphabetical order to Section 1.1 of the Credit Agreement:
“Credit Policy -- means the Company’s credit policies, as in effect on the Closing Date and then-most-recently delivered to the Administrative Agent, as the same may be amended, restated, supplemented, or otherwise modified from time to time in accordance with this Agreement.”
“MidCountry Bank Purchase Agreement -- means that certain Stock Purchase Agreement by and among Holdings, MidCountry Bank, and MidCountry Acquisition Corp., a Delaware limited liability company, dated on or about June 11, 2018.”
“MidCountry Bank Purchase Documents - means, collectively, the MidCountry Bank Purchase Agreement and the MidCountry Bank Side Agreement.
“Primary Owners -- means, collectively, (i) James Hays, and (ii) Brian Short.”
“Purchasing Guidelines -- means the Company’s loan purchasing guidelines, as in effect on the Closing Date and then-most-recently delivered to the Administrative Agent, as the same may be amended, restated, supplemented, or otherwise modified from time to time in accordance with this Agreement.”
“Servicing Guidelines -- means the Company’s loan servicing guidelines, as in effect on the Third Amendment Effective Date and then-most-recently delivered to the Administrative Agent, as the same may be amended, restated, supplemented, or otherwise modified from time to time in accordance with this Agreement.”
“MidCountry Bank Side Agreement” -- means that certain Termination and Depreciation Cost Agreement by and between MidCountry Bank and Holdings dated as of the date of the consummation of the transactions contemplated by the Purchase Agreement.”
“Third Amendment Effective Date -- means June 11, 2018.”
2.Purchasing Guidelines, Servicing Guidelines, and Credit Policy.  Section 10.13 of the Credit Agreement is hereby deleted in its entirety and replaced with the following: 
“10.13.    Purchasing Guidelines and Credit Policy. The Company shall maintain its Purchasing Guidelines and Credit Policy as in effect on the Closing Date without material change and shall obtain the prior written consent of the Administrative Agent before changing any of the same in any material respect, other, in each case, for changes related to the addition of veterans as eligible obligors.  The Company shall maintain its Servicing 

Guidelines as in effect on the Third Amendment Effective Date without material change and shall obtain the prior written consent of the Administrative Agent before changing any of the same in any material respect.”
3.Amendments to Certain Documents.  Section 11.6 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
“11.6.  Modification of Subordinated Debt Documents; Investment Note Documents; MidCountry Bank Purchase Agreement.  Unless approved in advance in writing by the Administrative Agent, not permit or agree to any amendment, modification or restatement of any of (i) the Subordinated Debt Documents unless such amendment or modification is permitted by the terms of the applicable Subordinated Debt Documents and of the applicable Subordination Agreement, or (ii) the Investment Note Documents.  Unless approved in advance in writing by the Administrative Agent, not permit or agree to any amendment, side letter, modification or restatement of the MidCountry Bank Purchase Documents.”
4.Event of Default Relating to Affiliate Agreements.  Section 13.1.16 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
“13.1.16.    Affiliate Agreement.  (i) Any breach or default (after giving effect to any applicable notice or cure periods) of the LSMS Agreement, the Expenses Sharing Agreement, or the Affiliate Fee Sharing Agreement by any Loan Party, MidCountry Bank, or any of their respective Subsidiaries or Affiliates, (ii) MidCountry Bank sends to any Loan Party or the Administrative Agent a Notice of Termination of or suspension of performance of any of its obligations under the LSMS Agreement (excluding the termination or suspension of the origination of loans in accordance with the LSMS Agreement), (iii) the LSMS Agreement expires, is terminated or is not otherwise in full force and effect, or the Interim Service Period (as defined in the LSMS Agreement) is in effect, or (iv) breach or default by any party to any MidCountry Bank Purchase Document.”
7.Additional Amendments to the Credit Agreement.  The Credit Agreement is hereby amended as follows effective upon the consummation of the MidCountry Bank Sale in accordance with the terms of this Agreement:
1.Change of Control. 
1.Clause (i) of the definition of Change of Control in Section 1.1 of the Credit Agreement is deleted in its entirety and replaced with the following; 
“(i)     both Pamela Johnson and Timothy L. Stanley shall fail to continue to be continuously and actively employed by each of the Companies and continuously active in the business affairs of each Company in the same capacities as they are employed on the First Amendment Date (or thereafter in capacities with greater responsibilities), provided, however, if the Required Lenders approve in writing any individual as a substitute for either of the foregoing individuals with the same capacity at the Companies then any such substitute person shall be deemed to replace the applicable foregoing individual;”
2.Clause (iii) of the definition of Change of Control in Section 1.1 of the Credit Agreement is deleted in its entirety and replaced with the following;
“(iii)    (I) the merger or consolidation of MidCountry Bank with or into another Person, or (II) the Primary Owners fail to be the record or beneficial owner, directly or indirectly, on a fully diluted basis, of the Capital Securities (A) representing at least fifty one percent (51%) of the voting power of each parent entity of MidCountry Bank and MidCountry Bank then outstanding Capital Securities having the power to vote, (B) representing less than fifty one percent (51%) of each parent entity of MidCountry Bank and MidCountry Bank’s then outstanding Capital Securities, or (C) having the power to elect a majority of the Board of Directors of each parent entity of MidCountry Bank and MidCountry Bank.”
3.the “or” between clauses (vi) and (vii) of the definition of Change of Control in Section 1.1 of the Credit Agreement is deleted; and
4.the “.” at the end of clause (vii) is deleted and replaced with “;” and the following new clause (viii) is hereby added to the definition of Change of Control in Section 1.1 of the Credit Agreement as follows:
“(viii)    Steve Meads ceases to be the President of MidCountry Bank; provided, however, that this clause shall not constitute a MCB Change of Control hereunder if Steve Meads is replaced within 

ninety (90) days after he ceases to be the President of MidCountry Bank by an individual with substantially similar experience and expertise to Steve Meads.”
2.Use of Proceeds.  Section 10.6 of the Credit Agreement is hereby amended by adding the following sentence at the end of such Section: 
“For the avoidance of doubt, the proceeds of Loans shall not be used to pay Termination Costs (as such term is defined in the LSMS Agreement).”
3.Restricted Payments.  
1.The lead-in paragraph to Section 11.3 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
“Not, and not permit any other Loan Party (other than Holdings) to, (i) make any distribution or pay any dividend to any holders of its Capital Securities, including any interest, distribution or dividend on any preferred Capital Securities, (ii) purchase or redeem any of its Capital Securities, (iii) pay any management, service or consulting fees or similar fees, or any cost, expense or liability reimbursements of payments under any fee sharing arrangement, or to, or enter into any agreement to make any such payments or reimbursements with, any of its equity holders or any Affiliate thereof or MidCountry Bank (whether or not it is an Affiliate), (iv) make any redemption, prepayment, defeasance, repurchase or any other payment in respect of any Debt (but not including the Obligations), prior to its stated maturity or amortization schedule, (v) make any redemption, prepayment, defeasance, repurchase or any other payment in respect of the Subordinated Debt or the Investment Note Debt, or make any payment of principal, interest (other than capitalized interest not paid in cash or other property), fees or otherwise on the Subordinated Debt or the Investment Note Debt, including any prepayment, or (vi)  set aside funds for any of the foregoing, except:”
2. Section 11.3(e) of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
“(e)  So long as no Unmatured Event of Default or Event of Default exists or would result therefrom, the Loan Parties may make payments and reimbursements to any other Loan Party as required under the Expenses Sharing Agreement or the Affiliate Fee Sharing Agreement, as each of the foregoing exists on the Closing Date, as the same may be amended, restated, supplemented, or otherwise modified from time to time in compliance with the terms and conditions of this Agreement; and”
4.Transactions with Affiliates.  Section 11.7 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
“11.7.  Transactions with Affiliates or other Persons.  Not, and not permit any other Loan Party to, enter into, or cause, suffer or permit to exist any transaction, arrangement or contract with any of its Affiliates which is on terms that are materially less favorable than are reasonably obtainable from any Person which is not one of its Affiliates.  For the avoidance of doubt, the obligations set forth in the preceding sentence applies to transactions otherwise permitted by this Agreement between or among Loan Parties, including, without limitation, the Affiliate Fee Sharing Agreement and the Expense Sharing Agreement, and also applies to transactions between Loan Parties and MidCountry Bank (whether or not it is an Affiliate).”
8.Representations and Warranties of each Company.  Each Company hereby jointly and severally represents and warrants to the Administrative Agent and the Lenders that (i) each Company’s execution of this Agreement has been duly authorized by all requisite action of each Company, (ii) no consents are necessary from any third parties for any Company’s execution, delivery or performance of this Agreement, (iii) this Agreement, the Credit Agreement, and each of the other Loan Documents, constitute the legal, valid and binding obligations of each Company enforceable against each Company in accordance with their terms, except to the extent that the enforceability thereof against any Company may be limited by bankruptcy, insolvency or other laws affecting the enforceability of creditors’ rights generally or by equity principles of general application, (iv) all of the representations and warranties contained in Section 9 of the Credit Agreement are true and correct in all material respects as of the date hereof (without duplication of materiality qualifiers in any such representations and warranties) and to the extent any representation and warranty is made as of an earlier date, such representation and warranty is true and correct in all material respects (without 

duplication of materiality qualifiers in any such representations and warranties) as of such earlier date, and (v) after giving effect to this Agreement, there is no Unmatured Event of Default or Event of Default.  

9.Customer Identification - USA PATRIOT Act Notice.  The Administrative Agent and the Required Lenders hereby notify each Company and each other Loan Party that, pursuant to the requirements of the USA Patriot Act, Title III of Pub. L. 107-56, signed into law October 26, 2001 (as amended from time to time (including any successor statute) and together with all rules promulgated thereunder, collectively, the “Act”), they are required to obtain, verify and record information that identifies each Company and each other Loan Party, which information includes the name and address of each Company and each other Loan Party and other information that will allow the Administrative Agent and each Lender to identify each Company and each other Loan Party in accordance with the Act.

10.Reaffirmation. Each Company hereby jointly and severally represents, warrants, acknowledges and confirms that (i) except as specifically modified by the terms of this Agreement, the Credit Agreement and the other Loan Documents remain in full force and effect as amended by this Agreement, (ii) no Company has any defense to its obligations under the Credit Agreement and the other Loan Documents, and the Obligations are due and owing to the Administrative Agent and the Lenders without setoff or counterclaim, (iii) the Liens of the Administrative Agent (held for the ratable benefit of the Lenders) granted by each Company in favor of the Administrative Agent under the Loan Documents secure all the Obligations, are reaffirmed in all respects, continue in full force and effect, have the same priority as before this Agreement, and are not impaired or extinguished in any respect by this Agreement, and (iv) no Company has any claim against the Administrative Agent or any Lender arising from or in connection with the Credit Agreement or the other Loan Documents.  Until the Obligations are paid in full in cash and all obligations and liabilities of each Company under this Agreement and the Loan Documents are performed and paid in full in cash, each Company agrees and covenants that they are respectively bound by the covenants and agreements set forth in the Credit Agreement, the other Loan Documents, and in this Agreement.  Each Company hereby jointly and severally ratifies and confirms the Obligations.  This Agreement does not create or constitute, and is not, a novation of the Credit Agreement and the other Loan Documents.

11.Release.  AS A MATERIAL PART OF THE CONSIDERATION FOR THE ADMINISTRATIVE AGENT AND THE REQUIRED LENDERS ENTERING INTO THIS AGREEMENT, EACH COMPANY, FOR ITSELF AND ITS OFFICERS, DIRECTORS, MEMBERS, MANAGERS, EMPLOYEES AND AGENTS (COLLECTIVELY “RELEASOR”) HEREBY IRREVOCABLY FOREVER RELEASES, FOREVER WAIVES AND FOREVER DISCHARGES THE ADMINISTRATIVE AGENT, EACH LENDER, THE ISSUING LENDER AND THE ADMINISTRATIVE AGENT’S, EACH LENDER’S AND THE ISSUING LENDER’S PREDECESSORS, SUCCESSORS, ASSIGNS, OFFICERS, MANAGERS, DIRECTORS, SHAREHOLDERS, EMPLOYEES, AGENTS, ATTORNEYS, REPRESENTATIVES, PARENT CORPORATIONS, SUBSIDIARIES, AND AFFILIATES (HEREINAFTER ALL OF THE ABOVE COLLECTIVELY REFERRED TO AS “ADMINISTRATIVE AGENT AND LENDER GROUP”), JOINTLY AND SEVERALLY, FROM ANY AND ALL CLAIMS, COUNTERCLAIMS, DEMANDS, DAMAGES, DEBTS, AGREEMENTS, COVENANTS, SUITS, CONTRACTS, OBLIGATIONS, LIABILITIES, ACCOUNTS, OFFSETS, RIGHTS, ACTIONS, AND CAUSES OF ACTION OF ANY NATURE WHATSOEVER, ARISING FROM THE BEGINNING OF TIME TO AND INCLUDING THE DATE OF THIS AGREEMENT, ARISING UNDER, ARISING IN CONNECTION WITH, ARISING FROM, OR RELATING TO, THE CREDIT AGREEMENT, AND THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY, INCLUDING, WITHOUT LIMITATION, ALL CLAIMS, DEMANDS, AND CAUSES OF ACTION FOR CONTRIBUTION AND INDEMNITY, WHETHER ARISING AT LAW OR IN EQUITY, AND WHETHER PRESENTLY POSSESSED, WHETHER KNOWN OR UNKNOWN, WHETHER LIABILITY BE DIRECT OR INDIRECT, LIQUIDATED OR UNLIQUIDATED, PRESENTLY ACCRUED, WHETHER ABSOLUTE OR CONTINGENT, FORESEEN OR UNFORESEEN, AND WHETHER OR NOT HERETOFORE ASSERTED, WHICH RELEASOR MAY HAVE OR CLAIM TO, HAVE AGAINST ANY OF ADMINISTRATIVE AGENT AND LENDER GROUP AS OF THE DATE HEREOF.

12.Governing Law.  This Agreement shall be a contract made under and governed by the internal laws of the State of Illinois applicable to contracts made and to be performed entirely within such state, without regard to conflict of laws principles.

13.Section Titles.  The section titles in this Agreement are for convenience of reference only and shall not be construed so as to modify any provisions of this Agreement.

14.Fees and Expenses.  Each Company shall promptly pay to the Administrative Agent all fees, expenses and other amounts owing to the Administrative Agent under the Credit Agreement and the other Loan Documents upon demand, including, without limitation, all reasonable out-of-pocket fees, costs and expenses incurred by the Administrative Agent in connection with the preparation, negotiation, execution, and delivery of this Agreement.

15.Counterparts; Facsimile Transmissions.  This Agreement may be executed in one or more counterparts and on separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Signatures to this Agreement may be given by facsimile, PDF format or other electronic transmission, and such signatures shall be fully binding on the party sending the same.

16.Incorporation by Reference.  The Administrative Agent, the Required Lenders and each Company hereby agree that all of the terms of the Loan Documents are incorporated in and made a part of this Agreement by this reference.  This Agreement is a Loan Document.

17.Notice - Oral Commitments Not Enforceable.  The following notice is given pursuant to Section 815 ILCS 160/1 et seq. of the Illinois Revised Statutes.  Nothing contained in the following notice shall be deemed to limit or modify the terms of this Agreement and the other Loan Documents:
ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE REGARDLESS OF THE LEGAL THEORY UPON WHICH IT IS BASED AND THAT IS IN ANY WAY RELATED TO THE CREDIT AGREEMENT AND THE LOAN DOCUMENTS. TO PROTECT COMPANY AND EACH OTHER LOAN PARTY (COMPANY) AND THE ADMINISTRATIVE AGENT AND THE LENDERS (CREDITOR) FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS THE COMPANY AND THE ADMINISTRATIVE AGENT AND THE LENDERS REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.
Each Company acknowledges that there are no other agreements between or among the Administrative Agent, Lenders, any Company and/or the Loan Parties, oral or written, concerning the subject matter of the Loan Documents, and that all prior agreements concerning the same subject matter, including any proposal or commitment letter, are merged into the Loan Documents and thereby extinguished.
18.Notice-Insurance.  UNLESS YOU PROVIDE EVIDENCE OF THE INSURANCE COVERAGE REQUIRED BY YOUR AGREEMENT WITH US, WE MAY PURCHASE INSURANCE AT YOUR EXPENSE TO PROTECT OUR INTERESTS. THIS INSURANCE MAY, BUT NEED NOT, PROTECT YOUR INTERESTS. THE COVERAGE THAT WE PURCHASE MAY NOT PAY ANY CLAIM THAT YOU MAKE OR ANY CLAIM THAT IS MADE AGAINST YOU IN CONNECTION WITH ANY OF YOUR ASSETS OR OPERATIONS. YOU MAY LATER CANCEL ANY INSURANCE PURCHASED BY US, BUT ONLY AFTER PROVIDING EVIDENCE THAT YOU HAVE OBTAINED INSURANCE AS REQUIRED BY OUR AGREEMENT. IF WE PURCHASE INSURANCE, YOU WILL BE RESPONSIBLE FOR THE COSTS OF THAT INSURANCE, INCLUDING THE INSURANCE PREMIUM, INTEREST AND ANY OTHER CHARGES WE MAY IMPOSE IN CONNECTION WITH THE PLACEMENT OF THE INSURANCE, UNTIL THE EFFECTIVE DATE OF THE CANCELLATION OR EXPIRATION OF THE INSURANCE. THE COSTS OF THE INSURANCE MAY BE ADDED TO YOUR TOTAL OUTSTANDING BALANCE OR OBLIGATION. THE COSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF INSURANCE YOU MAY BE ABLE TO OBTAIN ON YOUR OWN.
{remainder of page intentionally left blank; signature pages follow}

Signature Page to Amendment No. 3 to Credit Agreement with Consent

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[Pioneer Financial Services, Inc., Pioneer Funding, Inc., Pioneer Services Corp., 
and Pioneer Services Sales Finance, Inc.]

IN WITNESS WHEREOF, this Agreement has been duly executed as of the date first above written.
PIONEER FINANCIAL SERVICES, INC., 
a Missouri corporation, as Borrowing Agent and as a Company

By:        
Name:        
Title:        

PIONEER FUNDING, INC.,
a Nevada corporation, as a Company

By:        
Name:        
Title:        

PIONEER SERVICES CORP.,
a Missouri corporation, as a Company

By:        
Name:        
Title:        

PIONEER SERVICES SALES FINANCE, INC., 
a Nevada corporation, as a Company

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[CIBC Bank USA]
CIBC BANK USA,
as Administrative Agent, as Issuing Lender and 
as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[Arvest Bank]

ARVEST BANK, as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[Bank Midwest, a Division of NBH Bank]
BANK MIDWEST, a division of NBH Bank, as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[Bank of Blue Valley]
BANK OF BLUE VALLEY, as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[BancFirst]
BANCFIRST, as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[Citizens Bank & Trust Company]
CITIZENS BANK & TRUST COMPANY, 
as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[Enterprise Bank & Trust]
ENTERPRISE BANK & TRUST, as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[United Bank & Capital Trust Company]
UNITED BANK & CAPITAL TRUST COMPANY, as successor by merger with First Citizens Bank, Inc., as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[Stifel Bank & Trust]
STIFEL BANK & TRUST, as a Lender

By:        
Name:        
Title:        

Signature Page to Amendment No. 3 to Credit Agreement with Consent 
[UMB Bank, N.A.]
UMB BANK, N.A., as a Lender

By:        
Name:        
Title:        

A-1

Exhibit A
Documents and Requirements

		
	1.
	Amendment No. 3 to Credit Agreement with Consent, executed by each Company, the Administrative Agent and the Required Lenders.

		
	2.
	Reaffirmation of Guaranty executed by MidCountry Financial Corp., a Georgia corporation.

		
	3.
	Agent Fee Letter.

		
	4.
	Payment in cash or same day funds of the Administrative Agent Amendment Fee.

		
	5.
	Copy of a Good Standing Certificates for Pioneer Financial Services, Inc. from the Secretary of State of Missouri. 

		
	6.
	Copy of a Good Standing Certificates for Pioneer Funding, Inc. from the Secretary of State of Nevada.

		
	7.
	Copy of a Good Standing Certificates for Pioneer Services Corp. from the Secretary of State of Missouri.

		
	8.
	Copy of a Good Standing Certificates for Pioneer Services Sales Finance, Inc. from the Secretary of State of Nevada.

		
	9.
	Copy of a Good Standing Certificates for MidCountry Financial Corp. from the Secretary of State of Georgia.

		
	10.
	Secretary’s Certificate certifying Pioneer Financial Services, Inc.'s incumbency certificate and resolutions authorizing this Agreement, the Purchase Agreement, the New LSMS Agreement and the transactions contemplated by such documents, and no change to formation documents. 

		
	11.
	Secretary’s Certificate certifying Pioneer Funding, Inc.'s incumbency certificate and resolutions authorizing this Agreement, the Purchase Agreement, the New LSMS Agreement and the transactions contemplated by such documents, and no change to formation documents.

		
	12.
	Secretary’s Certificate certifying Pioneer Services Corp.'s incumbency certificate and resolutions authorizing this Agreement, the Purchase Agreement, the New LSMS Agreement and the transactions contemplated by such documents, and no change to formation documents.

		
	13.
	Secretary’s Certificate certifying Pioneer Services Sales Finance, Inc.'s incumbency certificate and resolutions authorizing this Agreement, the Purchase Agreement, the New LSMS Agreement and the transactions contemplated by such documents, and no change to formation documents.

		
	14.
	Secretary’s Certificate certifying MidCountry Financial Corp.'s incumbency certificate and resolutions authorizing the Reaffirmation of Guaranty, the Purchase Agreement, the New LSMS Agreement and the transactions contemplated by such documents, and no change to formation documents.

B-1

EXHIBIT B-1
Form of Purchase Agreement

Omitted.

B-2

EXHIBIT B-2
Form of Side Agreement

Omitted.

C

EXHIBIT C
Form of New LSMS Agreement

Omitted.

UNCONDITIONAL REAFFIRMATION OF GUARANTY
    
Omitted.Exhibit
10.1

 

Distribution
Agreement

 

This
Agreement is made on the 13th day of June, 2018

 

between

 

IRBN
Sdn Bhd (1269100-X) whose registered office is at Ground Floor, 8 Lorong Universiti B, Section 16, 46350 Petaling Jaya, Selangor,
Malaysia (the “Principal’’) and

 

Inbit
Corp (OTC MARKET: INBT) whose registered office is at L9-02, Level 9, Brem Mall Shopping Complex, Jalan Jambu Mawar, Off Jalan
Kepong, 52000 Kuala Lumpur, Malaysia (the “Distributor’’)

 

	1.
    	Definitions
	 	 
	1.1.	The
    “Products” means those products listed in Schedule 1 and such further products that the Principal may in writing
    permit the Distributor to distribute in the Territory.
	 	 
	1.2.	The
    “Territory” means those areas listed in Schedule 2.
	 	 
	1.3.	The
    “Trademark” means those trademarks and trade names listed in Schedule 3 and such further trade marks or trade
    names that the Principal may in writing permit the Distributor to use in respect of the Products in the Territory.
	 	 
	2.	Grant
    and terms of distributorship
	 	 
	2.1.	The
    Principal hereby grants the Distributor a NON-EXCLUSIVE licence to distribute and sell the Products under the Trademark
    in the Territory during the continuance of this Agreement.
	 	 
	3.
    	Responsibilities
	 	 
	3.1.	The
    Distributor shall during the continuance of this Agreement diligently and faithfully serve the Principal as its distributor
    in the Territory and shall use its best endeavours to improve the goodwill of the Principal in the Territory and to further
    and increase the sale of the Products in the Territory.
	 	 
	3.2.	The
    Distributor will ensure that it conforms with all legislation rules regulations and statutory requirements existing in the
    Territory from time to time in relation to the Products.
	 	 
	3.3.	The
    Distributor undertakes to achieve targets in relation to the Products in accordance with Schedule 4.
	 	 
	3.4.	The
    Distributor undertakes during the continuance of this Agreement not to manufacture or sell in or import into the Territory
    any goods competitive with the Products and not to be interested directly or indirectly in any such manufacture sale or importation.
	 	 
	3.5.	The
    Distributor shall leave in position and not alter, cover or erase any notices or other marks (including without limitation
    details of patents or notices that a trademark design or copyright relating to the Products is owned by the Principal or a
    third party) which the Principal may place on or affix to the Products.
	 	 
	3.6.	The
    Distributor shall keep full and proper records showing clearly all enquiries in respect of the Products and shall allow the
    Principal, on reasonable notice, access to its records and accounts relating to the Products for inspection.
	 	 
	3.7.	The
    Distributor shall insure at its own costs with a reputable insurance company all stocks of the Products as are held by it
    against all risks that would normally be insured against by a prudent businessman to at least their full replacement value
    and produce to the Principal on written demand full particulars of that insurance and the receipt for the then current premium.

 

    	 

    	 

    

 

	4.
    	Enquiries
	 	 
	4.1.	The
    Distributor shall during the continuance of this Agreement refer to the Principal all enquiries it receives for the Products
    for sale outside or export from the Territory.
	 	 
	5.
    	Extra-territorial
    activities
	 	 
	5.1.	During
    the continuance of this Agreement the Distributor can sell outside or export or assist in or be a party to the export of the
    Products from the Territory unless the prior consent of the Principal has been obtained. 
	 	 
	6.
    	Supply
    of the products
	 	 
	6.1.	The
    Distributor shall purchase all its requirements for the Products ready packaged from the Principal.
	 	 
	6.2.	The
    parties hereto agree that orders placed by the Distributor with the Principal under cl 6.1 or for any other items shall be
    on the terms set out in Schedule 5. In the event of a conflict between this agreement and the terms set out in Schedule 5,
    the terms of this agreement shall prevail.
	 	 
	6.3.	The
    Principal reserves the right to improve or modify the Products without prior notice shall be notified to the Distributor in
    which event the Distributor may vary or cancel any orders placed for the Products prior to the receipt of such notification
    except to the extent that these orders can be met by the supply of Products which do not incorporate the improvement or modification
    notified hereunder. Variation or cancellation hereunder shall be effected by the Distributor notifying the Principal thereof
    within fourteen days of receipt by the Distributor of the relevant notification of the relevant improvement or modification.
    The Distributor’s rights of cancellation under this clause shall be its sole remedy in the event of any improvement
    or modification being made to a Product, and in particular, but without limitation, no compensation or damages for breach
    of contract shall be payable to the Distributor by reason of such improvement or modification.
	 	 
	6.4.	The
    Principal shall make sure the Product conforms with Malaysia Authorities Requirement. It shall be the duty of the Distributor
    to make sure the Product conforms with other export destinations i.e. US Authorities’ requirement prior to selling and/or
    distributing the Product on the Territory. 
	 	 
	6.5	The
    Principal shall ensure that the raw material used for the Product shall be souced and produced in Malaysia.
	 	 
	7.
    	Advertising
	 	 
	7.1.	The
    costs of all advertising and sales promotion activities shall unless otherwise decided be borne by the Distributor.
	 	 
	7.2.	All
    advertisements point of sale promotion merchandising and publicity material for the Products issued by the Distributor shall
    be subject, before issue, to the prior approval of the Principal.
	 	 
	7.3.	All
    sales promotion activities carried on by the Distributor for the Products of whatever nature must receive the prior approval
    of the Principal.
	 	 
	8.
    	Merchandising
	 	 
	8.1.	The
    cost of all merchandising returns from customers relating to the Products shall (except in respect of Products which the Principal
    is obliged to replace as defective in accordance with its warranty obligations under Schedule 5), be borne by the Distributor.

 

    	 

    	 

    

 

	9.
    	Sales
    and marketing policies
	 	 
	9.1.	The
    Distributor shall conform to the general sales and marketing policies of the Principal and the Principal reserves the right
    to issue directions from time to time to the Distributor to ensure such conformity.
	 	 
	9.2.	Selling
    prices for the sale of the Products in the Territory by the Distributor shall be established and revised from time to time
    by the Distributor.
	 	 
	9.3.	The
    Distributor undertakes not to alter treat or otherwise deal with any of the Products (or their packaging) or to present any
    such Products for sale in a group package without in both cases obtaining the prior written consent of the Principal.
	 	 
	10.
    	Stocks
    of the products
	 	 
	10.1.	The
    Distributor shall at all times during the continuance of this Agreement carry at least optimum stock of the Products so that
    all orders received by the Distributor can be supplied without undue delay. The Distributor shall supply such reports as to
    stock levels and movements as the Principal may from time to time request.
	 	 
	11.
    	Staff
	 	 
	11.1.	The
    Distributor shall maintain during the continuance of this Agreement sufficient staff to sell distribute and promote the sale
    of the Products throughout the Territory and perform in a timely and satisfactory manner the Distributor’s obligations
    under this Agreement and in particular shall create and maintain a sales force of sufficient size from time to time to fulfil
    the Distributor’s obligations under this Agreement in relation to the sale and marketing of the Products.
	 	 
	12.
    	Monthly
    reports
	 	 
	12.1.	The
    Distributor shall send to the Principal by the thirtieth day following the end of each calendar month during the continuance
    of this Agreement a report of sales made of the Products in the Territory during that month together with such other marketing
    and other information in relation to the operation of the Agreement as the Principal may reasonably require.
	 	 
	13.
    	Intellectual
    property rights
	 	 
	13.1.	It
    is agreed that all rights to the Trademark (and all other intellectual property rights relating to or subsisting in the Products)
    are and shall remain the exclusive property of the Principal. The Distributor shall at the expense of the Principal enter
    into such agreements with the Principal and shall execute such documents and carry out such actions as may be necessary to
    protect such rights of the Principal in the Territory.
	 	 
	13.2.	The
    Trademark shall not be used in any manner liable to invalidate the registration thereof and the right to use the Trademark
    in connection with the appropriate Products is only granted to the extent that the Principal is able to do so without endangering
    the validity of the registration.
	 	 
	13.3.	 The Distributor shall (in so far as it becomes aware thereof) notify the Principal of any unauthorised use in the Territory
    of the Trademark. At the request and cost of the Principal the Distributor shall take part in or give assistance in respect
    of any legal proceedings and execute any documents and do any things reasonably necessary to protect the Trademark in the
    Territory.
	 	 
	14.
    	No
    joint venture or partnership
	 	 
	14.1.	Nothing
    in this Agreement shall create a partnership or joint venture between the parties hereto and save as expressly provided in
    this Agreement neither party shall enter into or have authority to enter into any engagement or make any representation or
    warranty on behalf of or pledge the credit of or otherwise bind or oblige the other party hereto.

 

    	 

    	 

    

 

	15.
    	Commencement
    and term of agreement
	 	 
	15.1.	This
    Agreement shall (subject to earlier termination as herein provided) commence upon the date of signature hereof and continue
    in force for an initial period of two years and thereafter the Distributor shall have the option to renew for further
    terms subject to terms and coditiont to be agreed upon by both parties. 
	 	 
	15.2.	The
    Distributor shall obtain at its own expense all necessary permissions consents and licences (including but without limitation
    those required to be given by any government department or any body constituted under the law of the Territory for licensing
    or other regulatory purposes relating to the Products) to enable the Distributor to market distribute and sell the Products
    in the Territory and to ensure the full and legal operation of this Agreement. For the avoidance of doubt, all taxes, charges,
    levies and fees of any kind imposed on the import or purchase of the Products shall be for the account of the Distributor.
	 	 
	15.3.	If
    the said permissions consents and licences are not obtained and fully operative within a period of six months from the aforesaid
    date of commencement the Principal shall thereafter have the option to terminate this Agreement immediately by notice to the
    Distributor. The said option shall cease if (prior to its exercise) the aforesaid permissions consents and licences have in
    fact been obtained and are fully operative even though this has been achieved outside the said period of six months.
	 	 
	15.4.	The
    Distributor shall not be entitled to any compensation on the termination of this Agreement under cll 15 or 16 for any cause
    whatsoever including but without limitation expiry by effluxion of time.
	 	 
	16.
    	Termination
	 	 
	 	Without
    prejudice to any right or remedy the Principal may have against the Distributor for breach or non-performance of this Agreement
    the Principal shall have the right summarily to terminate this Agreement:
	 	 
	16.1.	On
    the Distributor committing a material breach of this Agreement other than a breach of cl 3.3 providing the Distributor has
    been advised in writing of the breach and has not rectified it within twenty-one days of receipt of such advice.
	 	 
	16.2.	On
    the Distributor failing to achieve a target under cl 3.3 unless such failure was caused by a default of the Principal or by
    reason of act of God, fire explosion war riot civil commotion or governmental decree or legislation.
	 	 
	16.3.	If
    the Distributor shall have any distress or execution levied upon its goods or effects.
	 	 
	16.4.	On
    the commencement of the winding up or bankruptcy of the Distributor or on the appointment of a receiver or administrator of
    the distributor’s assets or on the Distributor ceasing to do business at any time for 30 consecutive days (other than
    for annual holidays).
	 	 
	16.5.	On
    the Distributor for any reason of whatsoever nature being substantially prevented from performing or becoming unable to perform
    its obligations hereunder.
	 	 
	16.6.	On
    the Distributor assigning or attempting to assign this Agreement without the prior written consent of the Principal.
	 	 
	16.7.	If
    control of the Distributor shall pass from the present shareholders or owners or controllers to other persons whom the Principal
    shall in its absolute discretion regard as unsuitable.
	 	 
	17.
    	Effect
    of termination
	 	 
	17.1.	Upon
    termination of this Agreement from any cause whatsoever pursuant to cl 15 or 16 (or by reason of expiry by effluxion of time)
    the Distributor shall at the request of the Principal promptly return to the Principal all documentation of any nature whatsoever
    in his possession or control relating to the Products or to the Principal and to the activities of the Distributor in relation
    to the Products or the Principal (other than correspondence between the Distributor and the Principal which does not relate
    to technical matters).

 

    	 

    	 

    

 

	17.2.	Upon
    such termination the Distributor shall have no further rights to use the Trademark in any way whatsoever and in particular
    but without prejudice to the generality of the foregoing shall cease to use the Trademark on its letterheads packaging vehicle
    liveries or elsewhere and shall at the request of the Principal sell any stocks of the Products not disposed of, in packaging
    which bears neither the Trademark nor the name of the Principal.
	 	 
	17.3.	Upon
    such termination the Distributor shall (if so required) supply the Principal with a list of the Distributor’s customers
    for the Products.
	 	 
	17.4.	Upon
    such termination the Distributor shall (if legally possible) assign to the Principal free of charge all permissions consents
    and licences (if any) relating to the marketing and or distribution and or sale of the Products and execute all documents
    and do all things necessary to ensure that the Principal shall enjoy the benefit of the said permissions consents and licences
    after the said termination to the entire exclusion of the Distributor.
	 	 
	18.
    	Confidentiality
	 	 
	 	The
    Distributor shall keep strictly confidential not disclose to any third party and use only for the purposes of this Agreement
    all information relating to the Products (whether technical or commercial) and to the affairs and business of the Principal
    and its subsidiary or associated companies, whether such information is disclosed to the Distributor by the Principal or otherwise
    obtained by the Distributor as a result of its association with the Principal.
	 	 
	19.
    	Assignment
	 	 
	19.1.	This
    Agreement and the benefit of the rights granted to the Distributor by this Agreement shall be personal to the Distributor
    who shall not without the prior consent of the Principal mortgage or charge the same to any third party nor subcontract nor
    assign the same nor part with any of its rights or obligations hereunder save that the foregoing shall not prevent the Distributor
    from factoring or mortgaging or in any way creating a charge or security over Products the title in which shall have passed
    to it or over book-debts created by the sale of such Products.
	 	 
	20.
    	Miscellaneous
	 	 
	20.1.	No
    waiver, alteration, variation or addition to this Agreement shall be effective unless made in writing on or after the date
    of signature of this Agreement by both parties and accepted by an authorised signatory of both parties.
	 	 
	20.2.	The
    interpretation construction effect and enforceability of this Agreement shall be governed by the laws of Malaysia, and the
    parties agree to submit to the non-exclusive jurisdiction of the Malaysia courts.
	 	 
	20.3.	All
    notices documents consents approvals or other communications (a “Notice’’) to be given hereunder shall be
    in writing and shall be transmitted by registered or recorded delivery mail, or by telex, facsimile or other electronic means
    in a form generating a record copy to the party being served at the relevant address for that party shown at the head of this
    Agreement. Any Notice sent by mail shall be deemed to have been duly served three working days after the date of posting.
    Any Notice sent by telex facsimile or other electronic means shall be deemed to have been duly served at the time of transmission
    [if transmitted during normal business hours at the location of the recipient and if not so transmitted then at the start
    of normal business hours on the next business day commencing at such location after the time at which the transmission was
    made].
	 	 
	20.4.	The
    headings in this Agreement shall not affect its interpretation.
	 	 
	20.5.	Throughout
    this Agreement, whenever required by context, the use of the singular number shall be construed to include the plural, and
    the use of the plural the singular, and the use of any gender shall include all genders.
	 	 
	20.6.	The
    Schedules to this Agreement constitute an integral part hereof.
	 	 
	20.7.	Reference
    in this Agreement to a clause or a Schedule is to a clause or Schedule of this Agreement.
	 	 
	20.8.	If
    any term or provision in this Agreement shall be held to be illegal or unenforceable, in whole or in part, under any enactment
    or rule of law, such term or provision or part shall to that extent be deemed not to form part of this Agreement but the validity
    and enforceability of the remainder of this Agreement shall not be affected.
	 	 
	20.9.	The
    waiver or forbearance or failure of a party in insisting in any one or more instances upon the performance of any provisions
    of this Agreement shall not be construed as a waiver or relinquishment of that party’s rights to future performance
    of such provision and the other party’s obligations in respect of such future performance shall continue in full force
    and effect.

 

    	 

    	 

    

 

SCHEDULE
1

 

Details
of the Products

 

    	 

    	 

    

 

SCHEDULE
2

 

Details
of the Territory

 

1.0
United States (USA)

 

2.0
Other Countries in North America (Subject to the approval by Principal)

 

    	 

    	 

    

 

SCHEDULE
3

 

Details
of the Trademarks

 

1.0
With Prior Consent, Distributor can apply to use, adopt, apply and promote under the IP/Trademarks of the Principal.

 

2.0
Details of the Trademarks shall refer to the Principal from time to time.

 

    	 

    	 

    

 

SCHEDULE
4

 

Purchase
Targets

 

The
Distributor undertakes to achieve during each consecutive period of twelve months of the currency of this Agreement (the first
such period to commence upon the date of commencement of this Agreement) the following minimum targets for purchases from the
Principal for the Products during the relevant period as follows:

 

Target:

 

Immediately
after the Feasibility Study to be carried out by the Distributor which is about 3 ~ 6 months, for the First 12-Month, at least
a total sum of USD 1,000,000.00 per annum worth of stock (based on base price).

 

For
the Second 12-Month, at least a total sum of USD 2,000,000.00 per annum worth of stock (based on base price).

 

    	 

    	 

    

 

SCHEDULE
5

 

Terms
of Supply

 

	1.	Term
    of Payment
	 	 	 
	 	1.1	The
    Product shall be sold by the Principal to the Distributor at a rate of US Dollar (USD) ____________ per ____________ unit/kilogram
    of Products (hereinafter referred to as the “Base Price or Ex-Stock Price”).
	 	 	 
	 	1.2	Full
    payment shall be made by the Distributor prior to the shipment of the ordered products by the Principal.
	 	 	 
	 	1.3	Any
    payment made by the Distributor shall be made in US Dollar (USD) currency directly to the Principal’s bank account to
    be notified from time to time.

 

	2.	Method of Order
	 	 	 
	 	2.1	The
    Distributor shall first issue a purchasing order to the Principal.
	 	 	 
	 	2.2	The
    Principal shall within a reasonable period from the receipt of a purchasing order, issue to the Distributor an invoice stating
    the particulars of the products and total sum to be paid.

 

	3.	Shipping
	 	 	 
	 	3.1	Ordered
    Product shall be shipped out by the Principal within fourteen (14) working days from the date the Principal receipt of the
    full settlement of the Ordered Sum and being notified by the Distributor of the same. However the Principal shall not be liable
    or responsible on the time frame the Ordered Product shall reach the designated port.
	 	 	 
	 	3.2	The
    Principal shall at the Principal’s sole cost be responsible for Ex-Stock or Ex-Warehouse, Malaysia and shall not be
    responsible for any shipments to any designated locations. Any other fees or costs including but not limited to taxes, storage
    fees and/or transportation fees shall be solely borne by the Distributor.

 

	4.	Warranty
	 	 	 
	 	4.1	The
    risk of the Ordered Product shall be deemed passed to the Distributor upon the Distributor collected the Ordered Products
    from the warehouse or front desk of Principal.
	 	 	 
	 	4.2	Any
    damage or lost on the Ordered Products prior to the collection of the same by the Distributor shall be borne by the Principal.

 

    	 

    	 

    

 

Signed
the day and year first above written by the duly authorised representatives of the Principal and the Distributor.

 

	IRBN
    Sdn Bhd 	 	Witnessed
    by:
	For
    on behalf of the Principal 	 	 
	 	 	 
	/S/Kwai
    Yow	 	/S/
    Chin Jee Chang
	Name:	Kwai
    Yow	 	Name:	Chin
    Jee Chang
	 	 	 
	Inbit
    Corp.	 	 
	For
    and on behalf of the Distributor 	 	Witnessed
    by:
	 	 	 
	/S/
    Tan Chee Hong	 	/S/
    Choy Cheng Choong
	Name:	Tan
    Chee Hong	 	Name:	Choy
    Cheng Choong

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00284-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00284-of-00352.parquet"}]]