Document:

EX-10.2

 Exhibit 10.2 

NOTE: Stock options granted to members of the Managing Committee (“Optionees”) of U.S. Bancorp (the “Company”) on and after
January 1, 2014 will have the terms and conditions set forth in each Optionee’s grant summary (the “Grant Summary”), which can be accessed on the Morgan Stanley Benefit Access Website at www.benefitaccess.com (or the
website of any other stock plan administrator selected by the Company in the future). The Grant Summary may be viewed at any time on this Website, and the Grant Summary may also be printed out. In addition to the individual terms and conditions set
forth in the Grant Summary, each stock option will have the terms and conditions set forth in the form of Non-Qualified Stock Option Agreement below. As a condition to each stock option grant, Optionee accepts the terms and conditions of the Grant
Summary and the Non-Qualified Stock Option Agreement. 
 U.S. BANCORP 

NON-QUALIFIED STOCK OPTION AGREEMENT 

THIS AGREEMENT, together with the Grant Summary which is incorporated herein by reference (collectively, the “Agreement”), sets forth the
terms and conditions of a stock option for the purchase of common stock of the Company, par value $0.01 per share (the “Common Stock”), granted to Optionee by the Company. The grant of the Option is pursuant to the Company’s Amended
and Restated 2007 Stock Incentive Plan, which was approved by shareholders on April 20, 2010 (the “Plan”), and is subject to its terms. Capitalized terms not defined in the Agreement shall have the meaning ascribed to such terms in
the Plan. 
 The Company and Optionee agree as follows: 
  

	1.	Grant of Option 

 Subject to the terms and conditions of the Plan and the
Agreement, the Company grants Optionee the right and option (the “Option”) to purchase all or any part of an aggregate of the number of shares of Common Stock set forth in Optionee’s Grant Summary at the exercise price per share set
forth in the Grant Summary. The date of grant of the Option (the “Grant Date”) and the expiration date of the Option (the “Expiration Date”) also are set forth in Optionee’s Grant Summary. The Option is not intended to be an
incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. 
  

	2.	Vesting of Exercise Rights; Forfeiture; Expiration 

 (a) Time Based Vesting
Conditions; Expiration. Subject to the terms and conditions of the Agreement, the Option (or a portion thereof) shall vest and may be exercised on or after the date or dates set forth in Optionee’s Grant Summary (each such date, a
“Scheduled Vesting Date”) if Optionee remains continuously employed by the Company or an Affiliate of the Company until the applicable Scheduled Vesting Date. Except as otherwise provided in the Agreement, if Optionee ceases to be an
employee of the Company or any Affiliate prior to an applicable Scheduled Vesting Date, any portion of the Option that has not previously become vested in accordance with the Grant Summary shall be immediately and irrevocably forfeited. Vested
Options shall terminate and shall no longer be exercisable at the close of business on the Expiration Date, or on such earlier date as provided in this Section 2. 

 (b) Accelerated Vesting of Exercise Rights Upon Death. Notwithstanding the vesting
provisions contained in Section 2(a), and subject to the other terms and conditions of the Agreement, if Optionee dies while in the employ of the Company or any Affiliate, then the vesting of the Option will accelerate upon the death of
Optionee, and the Option will be fully exercisable in whole or in part at any time up to the earlier of (i) the last day of the three-year period commencing on the date of Optionee’s death and (ii) the Expiration Date of the Option.
The Option may be exercised by the personal representatives or administrators of Optionee or by any Person or Persons to whom the Option has been transferred by will or the applicable laws of descent and distribution. 

(c) Continued Vesting of Exercise Rights Upon Retirement or Disability. Notwithstanding the vesting provisions contained in
Section 2(a), and subject to the other terms and conditions of the Agreement, upon the Retirement (as defined in Section 9) or Disability (as defined in Section 9) of Optionee, the unvested portion of the Option at the time of such
Retirement or Disability shall not be forfeited, and instead will become exercisable in accordance with the terms of the Agreement as though such Retirement or Disability had never occurred. Notwithstanding the foregoing, if Optionee shall die
following Disability or Retirement (but prior to the Expiration Date of the Option), then the unvested portion of the Option at the time of Optionee’s death, if any, will become exercisable in its entirety immediately upon Optionee’s
death, and the Option will be exercisable in whole or in part by the personal representatives or administrators of Optionee, or by any Person or Persons to whom the Option has been transferred by will or the applicable laws of descent and
distribution, at any time up to the earlier of (i) the last day of the three-year period commencing on the date of Optionee’s death and (ii) the Expiration Date of the Option. 

(d) Extended Period to Exercise Option Following Early Retirement. If Optionee’s employment is terminated by reason of Early
Retirement (as defined in Section 9), Optionee may exercise the portion of the Option that was vested on the date of such termination of employment at any time up to the earlier of (i) the last day of the three-year period commencing on
the date of such termination of employment and (ii) the Expiration Date of the Option. If Optionee shall die following Early Retirement (but prior to the termination or expiration of the Option as determined in accordance with the immediately
prior sentence), the personal representatives or administrators of Optionee, or the Person or Persons to whom the Option has been transferred by will or the applicable laws of descent and distribution, may exercise the Option in accordance with the
provisions of this Section 2(e). 
 (e) Accelerated Vesting of Exercise Rights Upon Qualifying Termination. Notwithstanding the
vesting provision contained in Section 2(a), and subject to the other terms and conditions of the Agreement, if Optionee’s employment is terminated pursuant to a Qualifying Termination (as defined in Section 9), the vesting of the
Option will be accelerated and the Option may be exercised in full immediately upon such Qualifying Termination. Further, upon a Qualifying Termination, Optionee shall have the right to exercise the Option for a period of one year following such
Qualifying Termination; provided, however, that no provision of this Section 2(e) shall shorten the period in which the Option may be exercised in the event of death, Disability, Retirement or Early Retirement as provided herein;
and, provided further, that no Option shall be exercisable after the Expiration Date of the Option. 

  
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 (f) Termination for Cause. If Optionee’s employment is terminated for Cause (as
defined in Section 9), the Option shall be terminated in its entirety and shall not be exercisable at any time on or after the date of the misconduct. 

(g) Exercise of Option Following Termination of Employment for any Reason other than Cause, Death, Disability, Retirement, Early Retirement
or Qualifying Termination. If Optionee’s employment shall be terminated for any reason other than Cause, death, Disability, Retirement, Early Retirement or a Qualifying Termination, Optionee may exercise the Option, to the extent that the
Option was exercisable by Optionee on the date of the termination of employment, at any time up to the earlier of (i) 90 days after such termination and (ii) the Expiration Date of the Option. 

(h) Forfeiture upon Violation of CNS Agreement. Notwithstanding any other provisions in this Agreement, if Optionee violates the terms
of the CNS Agreement, the Option shall terminate in its entirety and may no longer be exercised by Optionee (or by any representative or administrator of Optionee or any transferee of the Optionee by will or the applicable laws of decent and
distribution) at any time on or after the occurrence of any such violation. 
  

	3.	Special Risk-Related Cancellation Provisions 

 (a) Cancellation Resulting from
Acts Occurring During the Grant Year. Notwithstanding any other provision of the Agreement, if it shall be determined at any time subsequent to the Grant Date that Optionee has, during the calendar year in which the Grant Date occurs (the
“Grant Year”), (i) failed to comply with Company policies and procedures, including its Code of Ethics and Business Conduct, (ii) violated any law or regulation, (iii) engaged in negligent or willful misconduct, or
(iv) engaged in activity resulting in a significant or material control deficiency under the Sarbanes-Oxley Act of 2002, and such failure, violation, misconduct or activity (A) demonstrates an Inadequate Sensitivity (as defined below) to
the inherent risks of Optionee’s business line or functional area, and (B) results in, or is reasonably likely to result in, a material adverse impact (whether financial or reputational) on the Company or Optionee’s business line or
functional area, all or part of the Option granted under the Agreement that has not yet become vested (i.e. the portion that has not yet become exercisable) at the time of such determination may be cancelled, and, if so cancelled, all or such part
of the Option will not become exercisable. “Inadequate Sensitivity” means Optionee has engaged in imprudent activities that subject the Company to risk outcomes in future periods, including risks that may not be apparent at the time the
activities are undertaken. 
 (b) Cancellation Resulting from Acts Occurring in Years other than the Grant Year. Notwithstanding any
other provisions of the Agreement, if Optionee receives an Award in any year other than the Grant Year (the “Other Grant Year”) pursuant to an Award Agreement that contains a provision substantially similar to Section 3(a), and it is
determined that all or a portion of the Award made in the Other Grant Year (the “Other Grant Year Award”), as a result of risk-related behavior on the part of Optionee occurring in the Other Grant Year, should be subject to cancellation in
accordance with the terms of such provision, but some or all of the Other Grant Year Award is not subject to cancellation because vesting or settlement, as applicable, has already occurred, then the value of the unvested portion of the Option (i.e.
the portion that has not yet become exercisable) may be cancelled to the extent necessary to satisfy the Unsatisfied Cancellation Value (as defined below). The initial determination of the Unsatisfied Cancellation Value will be made by the Incentive
Review Committee (as defined in Section 9), subject to review and approval or adjustment by the Committee, in its sole discretion. “Unsatisfied Cancellation Value” means the excess of (i) the value of the Other Grant Year Award
(or portion thereof) that the Incentive Review Committee determines should be subject to cancellation (which amount shall not exceed the original Grant Date fair value of the Other Grant Year Award) over (ii) the value of that portion of the
Other Grant Year Award that is subject to cancellation at the time of such determination. All or a portion of the Option that has not yet become exercisable shall be subject to cancellation in order to satisfy the Unsatisfied Cancellation Value. For
avoidance of doubt, the valuation of the Option for the purpose of determining the portion of the Option to be cancelled shall be determined in the absolute discretion of the Committee. 

  
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	4.	Securities Law Compliance 

 The exercise of all or any portion of this Option
shall only be effective at such time that the sale of Common Stock issued pursuant to such exercise will not violate any state or federal securities or other laws. The Company is under no obligation to effect any registration of the stock subject to
the Option under the Securities Act of 1933 or to effect any state registration or qualification of such Common Stock. The Company may, in its sole discretion, defer the effectiveness of any full or partial exercise of the Option in order to ensure
that the issuance of stock upon exercise will be in compliance with federal or state securities laws and the rules of the New York Stock Exchange or any other exchange upon which the Company’s Common Stock is traded. 

 

	5.	Method of Exercise of Option 

 Subject to the foregoing, the Option may be
exercised in whole or part from time to time by contacting Morgan Stanley (or any other stock plan administrator selected by the Company in the future) in accordance with procedures established by the Company. Information about exercising the Option
can be accessed at USBnet (HRConnection) or www.USBankHR.com, or such other resource as established by the Company. When exercising the Option, the number of shares as to which the Option is being exercised must be specified, and the purchase price
(together with all federal, state, local, and foreign taxes required to be withheld) must be paid. By exercising the Option, Optionee agrees that, as a condition to any exercise of the Option, the Company may require Optionee to enter into an
arrangement providing for the payment by Optionee to the Company of any tax withholding obligation of the Company arising by reason of the exercise of the Option. To the extent permitted under the option exercise procedures established by the
Company and in effect at the time of exercise, Optionee may pay the purchase price (i) by check or other authorized money transfer; (ii) by delivery (through attestation) of already-owned Shares having a Fair Market Value (as defined in
the Plan) on the exercise date equal to the applicable exercise price, which Shares are owned free and clear of any liens, claims, encumbrances or security interests; or (iii) such other means as permitted under the procedures established by
the Company and in effect at the time of exercise. For this purpose, already-owned Shares must have been owned by Optionee for a minimum of six months prior to the date of exercise of the Option. 

 

	6.	Income Tax Withholding 

 In order to comply with all applicable federal, state,
local and foreign income and payroll tax laws or regulations, the Company or an Affiliate may take such action as it deems appropriate to ensure that all required withholdings with respect to taxes, which are the sole and absolute responsibility of
Optionee, are withheld or collected from Optionee. By acceptance and exercise of the Option, Optionee authorizes the Company or an Affiliate to take such actions, which may include, but are not limited to: (i) withholding from proceeds of the
sale of Shares acquired upon exercise of the Option, or withholding a portion of the Shares otherwise to be delivered upon exercise of the Option, in each case such Shares having a Fair Market Value not in excess of the minimum amount of tax
required to be withheld; (ii) withholding from Optionee’s wages or other cash compensation paid to Optionee by the Company or an Affiliate; and (iii) permitting Optionee to deliver shares of Common Stock (other than the Shares
issuable upon exercise of the Option) having a Fair Market Value equal to the amount of tax required to be withheld, which shares must have been owned by Optionee for a minimum of six months prior to the date of exercise of the Option. 

  
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	7.	Miscellaneous 

 (a) The Agreement shall not give Optionee any right with respect
to continuance of employment with the Company or any Affiliate, nor will it interfere in any way with the right of the Company or any Affiliate to terminate such employment at any time. In addition, the Company or any Affiliate may at any time
dismiss Optionee from employment, free from any liability or claim under the Plan. The holder of the Option will not be deemed to be the holder of any shares subject to the Option unless and until the Option has been exercised and the purchase price
of the shares purchased has been paid. 
 (b) Except pursuant to terms approved by the Committee, the Option may not be transferred, except
by will or the laws of descent and distribution to the extent provided in Section 2, and during Optionee’s lifetime the Option is exercisable only by Optionee (or by Optionee’s guardian or legal representative in the case of
disability). 
 (c) In the event that any dividend or other distribution (whether in the form of cash, shares of Common Stock, or other
securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Common Stock or other securities of the Company or other similar
corporate transaction or event affecting the stock subject to the Option would be reasonably likely to result in the diminution or enlargement of any of the benefits or potential benefits intended to be made available under the Option (including,
without limitation, the benefits or potential benefits of provisions relating to the term, vesting or exercisability of the Option, and any “change in control” provision), the Committee shall, in order to prevent such diminution or
enlargement of any such benefits or potential benefits, adjust any or all of (i) the number and type of shares (or other securities or other property) subject to the Option and (ii) the exercise price with respect to the Option;
provided, however, that the number of shares covered by the Option shall always be a whole number, and provided further that any such adjustment will comply with Treasury Regulation Section 1.409A-1(b)(5)(v)(D) to the
extent applicable . Without limiting the foregoing, if any capital reorganization or reclassification of the capital stock of the Company, or consolidation or merger of the Company with another corporation, or the sale of all or substantially all of
the Company’s assets to another corporation, shall be effected in such a way that holders of the Company’s Common Stock shall be entitled to receive stock, securities, cash or other assets with respect to or in exchange for such shares,
Optionee shall have the right to purchase and receive upon the basis and upon the terms and conditions specified in the Agreement and in lieu of the shares of the Common Stock of the Company immediately available for purchase and receivable upon the
exercise of the Option, with appropriate adjustments to prevent diminution or enlargement of benefits or potential benefits intended to be made available under the Option, such shares of stock, other securities, cash or other assets as would have
been issued or delivered to Optionee if Optionee had exercised the Option and had received such shares of Common Stock prior to such reorganization, reclassification, consolidation, merger or sale. The Company shall not effect any such
consolidation, merger or sale unless prior to the consummation thereof the successor corporation (if other than the Company) resulting from such consolidation or merger or the corporation purchasing such assets shall assume by written instrument the
obligation to deliver to Optionee such shares of stock, securities, cash or other assets as, in accordance with the foregoing provisions, Optionee may be entitled to purchase or receive. 

  
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 (d) The Company shall at all times during the term of the Option reserve and keep available such
number of shares of the Company’s Common Stock as will be sufficient to satisfy the requirements of the Agreement. 
 (e) The Option is
issued pursuant to the Plan and is subject to its terms. The Plan is available for inspection during business hours at the principal office of the Company. In addition, the Plan can be accessed on the Morgan Stanley Benefit Access Website at
www.benefitaccess.com (or the website of any other stock plan administrator selected by the Company in the future). 
  

	8.	Venue 

 Any claim or action brought with respect to this Award shall be brought in
a federal or state court located in Minneapolis, Minnesota. 
  

	9.	Definitions 

 (a) “Affiliate” shall be defined as defined in Rule 12b-2 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 

(b) “Announcement Date” means the date of the public announcement of the transaction, event or course of action that results in a
Change in Control. 
 (c) “Cause” means (A) the continued failure by Optionee to substantially perform Optionee’s duties
with the Company or any Affiliate (other than any such failure resulting from Optionee’s Disability) after a demand for substantial performance is delivered to Optionee that specifically identifies the manner in which the Company believes that
Optionee has not substantially performed Optionee’s duties, and Optionee has failed to resume substantial performance of Optionee’s duties on a continuous basis, (B) gross and willful misconduct during the course of employment
(regardless of whether the misconduct occurs on the Company’s premises), including, without limitation, theft, assault, battery, malicious destruction of property, arson, sabotage, embezzlement, harassment, acts or omissions which violate the
Company’s rules or policies (such as breaches of confidentiality), or other conduct which demonstrates a willful or reckless disregard of the interests of the Company or its Affiliates or (C) Optionee’s conviction of a crime
(including, without limitation, a misdemeanor offense) which impairs Optionee’s ability substantially to perform Optionee’s duties with the Company. 

(d) “Change in Control” means any of the following occurring after the date of the Agreement: 

 

	 	(A)	The acquisition by any Person (as defined in Section 9(i)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more of
either (1) the then outstanding shares of Common Stock (the “Outstanding Company Common Stock”) or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election
of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this clause (A), the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from
the Company, (ii) any acquisition by the Company, (iii) any acquisition by a subsidiary of the Company or any employee benefit plan (or related trust) sponsored or maintained by the Company or a subsidiary of the Company (a “Company
Entity”) or (iv) any acquisition by any corporation pursuant to a transaction which complies with clause (i), (ii) or (iii) of this clause (A); or 

  
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	 	(B)	Individuals who, as of the Grant Date, constitute the Company’s Board of Directors (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors (except as a
result of the death, retirement or disability of one or more members of the Incumbent Board); provided, however, that any individual becoming a director subsequent to the date of the Agreement whose election, or nomination for election
by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this
purpose, (1) any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Incumbent Board, (2) any director designated by or on behalf of a Person who has entered into an agreement with the Company (or which is contemplating entering into an agreement) to effect a
Business Combination (as defined in Section 9(d)(C)) with one or more entities that are not Company Entities or (3) any director who serves in connection with the act of the Board of Directors of increasing the number of directors and
filling vacancies in connection with, or in contemplation of, any such Business Combination; or 

  

	 	(C)	Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case, unless, following such
Business Combination, (1) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such
Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock or the combined voting power of the then outstanding voting securities entitled to vote generally in the
election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the
Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company
Voting Securities, as the case may be, (2) no Person (excluding any Company Entity or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 35% or more of, respectively, the then outstanding
shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business
Combination and (3) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the
action of the Board of Directors, providing for such Business Combination; or 

  
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	 	(D)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

(e) “Disability” means qualifying for and receiving disability benefits under the Company’s long-term disability programs as in
effect from time to time. 
 (f) “Early Retirement” means termination of employment (other than for Cause) by a Person who is age
55 or older and has had 10 or more years of employment with the Company or its Affiliates following such Person’s most recent date of hire by the Company or its Affiliates. 

(g) “Incentive Review Committee” means a committee of executive officers of the Company as identified in the Company’s Incentive
Compensation Policy from time to time, and initially comprised of the Company’s chief financial officer, chief credit officer, chief risk officer, general counsel and executive vice-president human resources. 

(h) “Notice of Termination” means a written notice which sets forth the date of termination of Optionee’s employment. 

(i) “Person” shall be defined as defined in Sections 13(d)(3) and 14(d)(2) of the Exchange Act. 

(j) “Qualifying Termination” means a termination of Optionee’s employment with the Company or its Affiliates by the Company for
any reason other than Cause within 12 months following a Change in Control, provided that such a termination will not be a Qualifying Termination if: 
  

	 	(A)	the Company has notified Optionee in writing more than 30 days prior to the Announcement Date that Optionee’s employment is not expected to continue for more than 12 months following the date of such notification,
and Optionee’s employment is in fact terminated within such 12-month period; or 

  

	 	(B)	Optionee has announced in writing, prior to the date the Company provides a Notice of Termination to Optionee, that Optionee intends to terminate his or her employment. 

(k) “Retirement” means the termination of employment (other than for Cause) by a Person who is age 59 1/2 or older and has had 10 or more years
of employment with the Company or its Affiliates following such Person’s most recent date of hire by the Company or its Affiliates. 

  
 8EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 SECOND
AMENDMENT TO 
 NOTE PURCHASE AGREEMENT 

(NEWSTAR COMMERCIAL LEASE FUNDING I, LLC) 

THIS SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT, dated as of December 12, 2013 (this “Amendment”), is entered
into by and among NEWSTAR COMMERCIAL LEASE FUNDING I, LLC, a Delaware limited liability company, as the borrower (in such capacity, together with its successors and permitted assigns, the “Borrower”), NEWSTAR EQUIPMENT FINANCE I,
LLC, a Delaware limited liability company (together with its successors and permitted assigns, “NEF”), as the Servicer and as the originator (in such capacity, together with its successors and permitted assigns, the
“Originator”), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as the lender (in such capacity, together with its successors and assigns, the “Lender”), WELLS FARGO SECURITIES, LLC, a
Delaware limited liability company (together with its successors and assigns, “WFS”), as deal agent (in such capacity, together with its successors and assigns, the “Deal Agent”), and WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as the backup servicer (in such capacity, together with its successors and assigns, the “Backup Servicer”) and the trustee (in such capacity, together with its successors and assigns, the
“Trustee”). Capitalized terms used and not otherwise defined herein are used as defined in the Agreement (as defined below). 

R E C I T A L S 

WHEREAS, the parties hereto entered into that certain Note Purchase Agreement, dated as of November 16, 2012 (as amended, restated
or otherwise modified from time to time, the “Agreement”); and 
 WHEREAS, the parties hereto previously amended the
Agreement as of September 26, 2013; and 
 WHEREAS, the parties hereto desire to further amend the Agreement in certain respects
as provided herein. 
 NOW, THEREFORE, in consideration of the premises, mutual covenants and other good and valuable consideration
contained herein, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

A G R E E M E N T 

Section 1. Amendments. 

(a) Clause (d) of the definition “Turbo Event” in Section 1.1(b) of the Agreement is amended and
restated in its entirety as follows: 
 “(d) if, on the first Determination Date occurring sixteen (16) months
after the Closing Date, the ratio of the aggregate Outstanding Amount to the Advance Limit is less than fifty percent (50%) (unless the Originator has sponsored a Securitization Transaction);” 

  
 Second Amendment to Note
Purchase Agreement 
 (NewStar Commercial Lease Funding I, LLC) 

 (b) Section 2.3 of the Agreement is amended and restated in its entirety as follows:

 “Section 2.3. Optional Termination of the Revolving Period. 

The Lender or the Borrower may, upon at least forty-five (45) days’ prior written notice to the Deal Agent, the Servicer and the
Borrower or the Lender, as applicable, terminate the Revolving Period on March 17, 2014. The effective date of such termination shall be the “Optional Revolving Period Termination Date.”” 

Section 2. Ratification of Agreement. As amended by this Amendment, the Agreement is in all respects ratified and confirmed
by all of the parties and the Agreement as amended by this Amendment shall be read, taken and construed as one and the same instrument. All references to the Agreement shall be deemed to mean the Agreement as amended hereby. This Amendment shall not
constitute a novation of the Agreement, but shall constitute an amendment thereof. The parties hereto agree to be bound by the terms and conditions of the Agreement as amended by this Amendment. 

Section 3. Representations. The Borrower, the Originator and the Servicer each hereby represents and warrants with respect
to itself as of the date of this Amendment as follows: 
 (a) it is duly organized, validly existing and in good standing under the laws of
its jurisdiction of organization; 
 (b) the execution, delivery and performance by it of this Amendment are within its powers, have been
duly authorized, and do not contravene (i) its articles of organization, operating agreement or other organizational documents or (ii) any Applicable Law; 

(c) no consent, license, permit, approval or authorization of, or registration, filing or declaration with, any governmental authority is
required in connection with the execution, delivery, performance, validity or enforceability of this Amendment by or against it; 
 (d) this
Amendment has been duly authorized, executed and delivered by it; 
 (e) this Amendment constitutes its legal, valid and binding obligation
enforceable against it in accordance with its terms, except as enforceability may be limited by Insolvency Laws generally or by general principles of equity; 

(f) all representations and warranties set forth in the Agreement are true and correct as of the date hereof (except those that expressly
relate to an earlier date) and all of the provisions of the Agreement and the other Transaction Documents, except as amended or waived hereby, are in full force and effect; 

(g) subsequent to the execution and delivery of this Amendment and after giving effect hereto, no unwaived event has occurred and is
continuing which constitutes a Turbo Event, an Event of Default, an Unmatured Event of Default, a Servicer Default or an Unmatured Servicer Default; 

(h) the Agreement continues to create a valid security interest in, and Lien upon, the Assets in the Asset Pool, in favor of the Trustee,
which security interest and Lien is perfected in accordance with the terms of the Transaction Documents and is prior to all Liens subject to Permitted Liens; and 

(i) in consideration of the Deal Agent, the Backup Servicer, the Trustee and the Lender entering into this Amendment, the Borrower, the
Originator and the Servicer hereby waive, release and discharge the Deal Agent, the Backup Servicer, the Trustee, the Lenders or any of their respective officers, employees, representatives, agents, counsel or directors from any and all actions,
causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, now known to the extent that any of the forgoing arose, on or prior to the date hereof, out of or from or in

  
 Second Amendment to Note
Purchase Agreement 
 (NewStar Commercial Lease Funding I, LLC) 
  

2 

 
any way related to or were in connection with the Agreement or the Transaction Documents, including, without limitation, any action by such Persons, or failure of such Persons to act, under the
Agreement or the other Transaction Documents on or prior to the date hereof, except, with respect to any such Person being released hereby, any actions, causes of action, claims, demands, damages and liabilities arising out of such Person’s
gross negligence or willful misconduct in connection with the Agreement or the other Transaction Documents. 
 Section 4.
Liens. Each of the parties hereto affirms any liens and security interests created and granted by it in the Agreement or the other Transaction Documents and agrees that this Amendment shall in no manner adversely affect or impair such
liens and security interests. In addition, each of the parties hereto agrees to execute and file any documents necessary to make this paragraph accurate as of the date hereof. 

Section 5. Conditions. The effectiveness of this Amendment is subject to the delivery to the Administrative Agent of this
Amendment duly executed by each of the parties hereto. 
 Section 6. Miscellaneous. 

(a) This Amendment may be executed in any number of counterparts (including by facsimile), and by the different parties hereto on the same or
separate counterparts, each of which shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement. 

(b) The descriptive headings of the various sections of this Amendment are inserted for convenience of reference only and shall not be deemed
to affect the meaning or construction of any of the provisions hereof. 
 (c) This Amendment may not be amended or otherwise modified except
as provided in the Agreement. 
 (d) Whenever the context and construction so require, all words used in the singular number herein shall be
deemed to have been used in the plural, and vice versa, and the masculine gender shall include the feminine and neuter and the neuter shall include the masculine and feminine. 

(e) This Amendment represents the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or
subsequent oral agreements between the parties. There are no unwritten oral agreements between the parties. 
 (f) THIS AMENDMENT AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS. 

[Remainder of Page Intentionally Left Blank] 

  
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3 

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

			
	NEWSTAR COMMERCIAL LEASE FUNDING I, LLC, as Borrower
		
	By:	 	NEWSTAR FINANCIAL, INC.,
		 	as Designated Manager
		
	By:	 	 /s/ JOHN KIRBY BRAY

	Name:	 	 John Kirby Bray

	Title:	 	 Chief Financial Officer

	
	NEWSTAR EQUIPMENT FINANCE I, LLC, as Servicer and Originator
		
	By:	 	NEWSTAR FINANCIAL, INC.,
		 	as Designated Manager
		
	By:	 	 /s/ JOHN KIRBY BRAY

	Name:	 	 John Kirby Bray

	Title:	 	 Chief Financial Officer

 [SIGNATURES CONTINUED ON THE FOLLOWING PAGE] 

  
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S-1 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Lender
		
	By:	 	 /s/ KEVIN C. RYAN

	Name:	 	 Kevin C. Ryan

	Title:	 	 Managing Director

 [SIGNATURES CONTINUED ON THE FOLLOWING PAGE] 

  
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S-2 

 
			
	WELLS FARGO SECURITIES, LLC,
	as Deal Agent
		
	By:	 	 /s/ GREG WILLIAMSON

	Name:	 	 Greg Williamson

	Title:	 	 Vice President

 [SIGNATURES CONTINUED ON THE FOLLOWING PAGE] 

  
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S-3 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	 /s/ BRETT HUDSON

	Name:	 	 Brett Hudson

	Title:	 	 Assistant Vice President

 [SIGNATURES CONTINUE ON FOLLOWING PAGE] 

  
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S-4 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Backup Servicer
		
	By:	 	 /s/ BRETT HUDSON

	Name:	 	 Brett Hudson

	Title:	 	 Assistant Vice President

 [SIGNATURES CONTINUED ON THE FOLLOWING PAGE] 

  
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S-5 

			
	Acknowledged and agreed to as of
	the date first written above.
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Hedge Counterparty

		
	By:	 	 /s/ JOE HUNTER

	Name:	 	 Joe Hunter

	Title:	 	 Authorized Signatory

  
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S-6

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