Document:

Exhibit
10.25

 

CONSULTING
AGREEMENT

 

CONSULTING
AGREEMENT dated as of October 28th, 2015 (this “Agreement”) by and between GrowGeneration California
Corp., a Delaware Corporation (the “Company”) and Troy Sowers, (“Consultant”), an individual who
resides atTroy Sowers California

 

RECITALS

 

WHEREAS,
the Company wishes to engage the Consultant to provide services to the Company, and the Consultant wishes to be so engaged and
to provide such services, on the terms and provisions, and subject to the conditions, set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual representations, warranties and agreements contained herein, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties
hereto agree as follows:

 

1.             Engagement
and Services.

 

1.1             The
Company agrees to and does hereby engage the Consultant, and the
Consultant agrees to and does hereby accept engagement by the Company to (i) maximize awareness of the Company’s brand, stores
and products; (ii) identify strategic partners, growers and other potential customers for the Company; and (iii) negotiate and
close on sales of the Company’s products to growers and other potential customers (which growers and potential customers identified
by the Consultant shall be defined as “New Clients” herein). For purposes of this Agreement, New Clients shall not include
any customers or clients with whom the Consultant has done business prior to the date of this Agreement (ie the customers identified
on Exhibit A).

 

1.2             The
Consultant shall deliver a list of all customers to the Company upon
execution of this Agreement, a copy of which shall be attached hereto as Exhibit A. The Consultant hereby authorizes the Company
to contact and/or transact business with any of such customers.

 

1.3             The
names and date of initial contact with all New Clients shall be delivered
in writing to the COO of the Company. If approved by the Company’s COO, the Consultant shall be eligible to earn sales compensation
for sales of goods and/or services by the Company to the approved New Clients as provided in Section 3.2 of this Agreement.

 

1.4             The
Company shall provide the Consultant with marketing support, including
online and print materials, to assist the Consultant in its duties hereunder.

 

1.5             The
Consultant shall render to the Company the services described above,
with respect to which the Consultant shall apply its best efforts and attention to perform its duties hereunder and advance the
interests of the Company. The Consultant shall report to the Chief Operating Officer and such other persons as the Chief Operating
Officer may direct.

 

    	 	1	 

     

    

 

1.6             The
Consultant represents and warrants that all information relating to
the Company and its products, including brands, description and prices that Consultant delivers to potential customers shall be
complete and accurate in all material respects.

 

1.7             The
Company reserves the right to approve in advance any use or reference
to the Company’s name, likeness, image or brand in any way.

 

1.8             The
Consultant is not authorized or entitled, nor does it have the right
to bind or commit the Company (legally or otherwise) to any agreement. Any and all agreements or arrangements with third parties
binding or committing the Company shall be set forth in a written document executed by an authorized representative of the Company
and the Company shall be solely responsible for all obligations under such agreements.

 

2.             Term;
Engagement Period. The Term of this Agreement shall commence on the date hereof and shall continue for a period of one (1)
year, subject to renewal for an additional period of one (1) year upon the mutual consent of both of the parties hereto. Notwithstanding
the foregoing, neither party shall be obligated to extend this Agreement after the initial one (1) Term. The period during which
Consultant shall serve in such capacity shall be deemed the “Term” or the “Engagement Period” and shall
hereinafter be referred to as such.

 

3.             Compensation.

 

3.1             During
the twelve (12) months of the Engagement Period, the Company shall pay the Consultant compensation of $1,200 per month.

 

3.2             For
the referral of New Clients and new business by the Consultant during the Engagement Period and in consideration of the Consultant’s
having entered into this agreement, the Company agrees to pay consultant compensation equal to 25% of the gross profit on all
goods and services sold by the Company to the New Clients. Gross profit shall mean the total dollar amount of all sales generated
from sales to New Clients at their invoiced price, less amounts for cost of goods sold, credit card processing fees, sales discounts,
customer deductions and returns. Gross profit will be calculated each month and paid to the Consultant by the 10th day of the
month following the month in which such sales were made.

 

3.3             Upon
execution of this Agreement, the Company will grant the Consultant five (5) year options to acquire up to 25.000 shares of the
Company’s common stock at a price of $.66 per share.

 

    	 	2	 

     

    

 

4.             Relationship.
Consultant shall be an independent contractor and not an employee of the Company. The Consultant shall pay all expenses related
to Consultants services hereunder, including insurance, license and permit fees related to Consultants business.  Notwithstanding
the foregoing, the Company may (but shall not be obligated) to pay or reimburse the Consultant for some expenses, provided however
that any expenses must first be agreed in writing (including by email) by the Company to be eligible for reimbursement. The Consultant
shall be responsible to pay all city, state, county and federal taxes for compensation earned hereunder. This Agreement shall not
be construed to create between the Company and Consultant the relationship of principal or agent, employer and employee, joint
venturers or co-partners. All intellectual property, ideas, innovation, discoveries, inventions and other rights that are developed,
in whole or in part, by the Consultant or its affiliates during the course of Consultant’s engagement hereunder shall be
deemed the sole property of the Company. It being expressly understood that Consultant has developed his own nutrient line and
Consultant shall have the right to sell said nutrients to vendors but not current customers of MadMax without the written permission
of the Company. In addition Consultant shall have the right to work as a Sales Person for a Product company but can not sell product
to any current or future customers of MadMax or GrowGeneration.

 

5.             Non-Circumvent;
Non-Compete; Confidentiality. During the Term of this Agreement, the Company may introduce the Consultant to its employees,
management, consultants and individuals and companies who may be potential clients or customers of the Company. The Consultant
hereby agrees that it will not make any contract or contact with, deal with, or otherwise engage in any commercial transaction
with any of such Persons without the written permission of the Company. The Consultant further agrees that it will not hire, engage
or otherwise enter into a commercial transaction with any officer, director, employee or consultant of the Company during the
Term of this Agreement and for a period of two (2) years after the Termination of this Agreement without the prior written consent
of the Company. The Consultant covenants and agrees that during the Term of this Agreement and a period of two (2) year thereafter,
the Consultant shall not, directly or indirectly, manage, operate or control, or participate in the ownership, management, operation
or control of, or otherwise become interested in (whether as an owner, stockholder, member, partner, lender, consultant, Consultant,
officer, director, agent, supplier, distributor or otherwise) any business which is competitive with the business of the Company
or any of its subsidiaries or affiliates, or, directly or indirectly, induce or influence any person that has a business relationship
with the Company or any of its subsidiaries or affiliates to discontinue or reduce the extent of such relationship. The Consultant
agrees to keep confidential all written information relating to the Company’s pricing, products, planning, marketing strategies,
ideas, know-how, customers, suppliers, sales estimates, business plans, client lists, profit margins, media lists, databases,
formulas and any other information and to not disclose any of same to any party. Consultant agrees that any contacts, referrals
provided to the Company shall be the intellectual property of the Company.

 

6.             Termination.
This Agreement may be terminated prior to the end of the Engagement
Period by either party on seven (7) days written note to the other party. In the event that this Agreement is terminated, all
obligations of the parties shall thereupon immediately terminate, except that Consultant shall be entitled to receive compensation
as provided for herein to the extent it was earned prior to the Termination date.

 

    	 	3	 

     

    

 

7.             General
Provisions. 

 

7.1             Notices.All
notices required to be given under the terms of this Agreement shall
be in writing and shall be deemed to have been duly given only if delivered to the addressee in person or mailed by certified
mail, return receipt requested, to the address as included in the Company’s records or to any such other address as the party
to receive the notice shall advise by due notice given in accordance with this paragraph. Any party hereto may change its or his
address for the purpose of receiving notices, demands and other communications as herein provided, by a written notice given in
the manner aforesaid to the other party hereto.

 

7.2             Benefit
of Agreement and Assignment. This Agreement shall inure to the benefit of and shall be binding upon the parties hereto and
their respective executors, administrators, successors and assigns; provided, however, that Consultant may not assign any of his
rights or duties hereunder except upon the prior written consent of the President of the Company.

 

7.3             Applicable
Law. IRRESPECTIVE OF THE PLACE OF EXECUTION OR PERFORMANCE, THE TERMS AND CONDITIONS OF THIS AGREEMENT SHALL BE INTERPRETED,
GOVERNED BY, CONSTRUED, AND ENFORCED IN ACCORDANCE WITH AND UNDER THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO AGREEMENTS ENTERED
INTO AND WHOLLY PERFORMED THEREIN WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAWS PROVISIONS. THE PARTIES CONSENT TO THE JURISDICTION
OF THE COURTS OF THE STATE OF DELAWARE AND THE UNITED STATES DISTRICT COURT FOR THE STATE OF DELAWRE FOR ALL PURPOSES IN CONNECTION
WITH ANY ACTION OR PROCEEDING INVOLVING A CLAIM, DISPUTE OR CONTROVERSY WITH RESPECT TO THIS AGREEMENT NOT OTHERWISE SUBJECT
TO BINDING ARBITRATION AS SET FORTH UNDER SECTION 7.11 OF THIS AGREEMENT.

 

7.4             Captions.
The captions appearing at the commencement of the sections hereof are descriptive only and for convenience of reference only
and are not intended to be part of or to effect the meaning or interpretation of this Agreement.

 

7.5             Severability.
In the event that any one or more of the provisions contained in this Agreement or in any other instrument referred
to herein, shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, then to the maximum extent permitted
by law, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement or any other such
instrument.

 

7.6             Entire
Agreement.This Agreement contains the entire Agreement of the parties, and supersedes any and all other Agreements,
either oral or in writing, between the parties hereto with respect to the subject matter hereof. Each party to this Agreement
acknowledges that no representations, inducements, promises, or Agreements, oral or otherwise, have been made by either
party, or anyone acting on behalf of either party, which is not embodied herein, and that no other Agreement, statement or
promise not contained in this Agreement shall be valid or binding.

 

    	 	4	 

     

    

 

7.7             Amendments. This Agreement may be modified or amended only by an Agreement in writing signed by the Company and Consultant.

 

7.8             Waiver.
No waiver of any provision hereof shall be valid unless made in writing and signed by the party making the waiver. No waiver
of any provision of this Agreement shall constitute a waiver of any other provision, whether or not similar, nor shall any waiver
constitute a continuing waiver.

 

7.9             Authority.
Each party hereto represents and warrants that it or he has the power and authority to execute and deliver this Agreement
and to perform its or his obligations hereunder.

 

7.10           Compliance
with Laws and Policies. Consultant agrees that he will at all times comply strictly with all applicable laws and all current
and future policies of the Company.

 

7.11           Arbitration.
Any dispute or controversy arising under or in connection with this Agreement, other than matters pertaining to injunctive
relief, including, without limitation, temporary restraining orders, preliminary injunctions and permanent injunctions, shall,
upon the written demand of either party served upon the other party, be submitted to arbitration. Such arbitration shall be held
in the City of Denver, State of Colorado, and conducted in accordance with the Rules of the American Arbitration Association.

 

IN
WITNESS WHEREOF, the parties hereto have executed the above Agreement as of the day and year first above written:

 

	 	GROWGENERATION CALIFORNIA CORP.

	 	 	 
	 	By:	/s/ Darren Lampert
	 	Name:	Darren Lampert
	 	Title:	CEO

 

	 	CONSULTANT

	 	 	 
	 	By:	/s/ Troy Sowers
	 	Name:	Troy Sowers

 

 

5EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 

OMNIBUS AMENDMENT 
 This
OMNIBUS AMENDMENT, dated as of November 5, 2015 (this “Amendment”) is: 
 (a) FIRST AMENDMENT TO FIFTH AMENDED AND
RESTATED RECEIVABLES PURCHASE AGREEMENT, by and among the following parties: 
 (i) FLEETCOR FUNDING LLC, as Seller (the
“Seller”); 
 (ii) FLEETCOR TECHNOLOGIES OPERATING COMPANY, LLC, as Servicer (the
“Servicer”); 
 (iii) PNC BANK, NATIONAL ASSOCIATION (“PNC”), as a Committed Purchaser, as
the sole Swingline Purchaser and as the Purchaser Agent for its Purchaser Group; 
 (iv) CREDIT AGRICOLE CORPORATE AND
INVESTMENT BANK (“CACIB”), as a Committed Purchaser and as the Purchaser Agent for its and Atlantic’s Purchaser Group; 

(v) ATLANTIC ASSET SECURITIZATION LLC (“Atlantic”), as a Conduit Purchaser for CACIB’s Purchaser Group;

 (vi) WELLS FARGO BANK, NATIONAL ASSOCIATION (“Wells”), as a Committed Purchaser and as the Purchaser
Agent for its Purchaser Group; 
 (vii) REGIONS BANK (“Regions”), as a Committed Purchaser and as the
Purchaser Agent for its Purchaser Group; 
 (viii) THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH
(“BTMU”), as a Committed Purchaser and as the Purchaser Agent for its and Victory’s Purchaser Group; 

(ix) VICTORY RECEIVABLES CORPORATION (“Victory”), as a Conduit Purchaser for BTMU’s Purchaser Group; 

(x) SUMITOMO MITSUI BANKING CORPORATION (“SMBC”), as a Committed Purchaser; 

(xi) MANHATTAN ASSET FUNDING LLC (“Manhattan”), as a Conduit Purchaser for SMBC’s Purchaser Group; 

(xii) SMBC NIKKO SECURITIES AMERICA, INC. (“SMBC Nikko”), as the Purchaser Agent for SMBC’s and
Manhattan’s Purchaser Group; and 
 (xiii) PNC BANK, NATIONAL ASSOCIATION, as Administrator (in such capacity, the
“Administrator”); and 

 (b) FIRST AMENDMENT TO AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT, by and among each of the
parties listed on the signature pages hereto as an Originator (each, an “Originator” and collectively, the “Originators”) and the Seller. 

BACKGROUND 
 A. The parties
hereto (other than the Originators) are parties to that certain Fifth Amended and Restated Receivables Purchase Agreement dated as of November 14, 2014 (as amended, restated, supplemented or otherwise modified through the date hereof, the
“Receivables Purchase Agreement”). Capitalized terms used and not otherwise defined herein have the respective meaning assigned to such terms in the Receivables Purchase Agreement. 

B. The Originators and Seller are parties to that certain Amended and Restated Purchase and Sale Agreement dated as of November 14, 2014
(as amended, restated, supplemented or otherwise modified through the date hereof, the “Sale Agreement”). 
 C. The parties
to the Receivables Purchase Agreement desire to amend the Receivables Purchase Agreement on the terms and subject to the conditions set forth herein. 

D. The parties to the Sale Agreement desire to amend the Sale Agreement on the terms and subject to the conditions set forth herein. 

E. The Servicer and BP are parties to BP Card Issuing and Operating Agreement. The Servicer and BP desire to amend and restate the BP Card
Issuing and Operating Agreement. 
 F. The Seller, the Servicer, the Administrator, and BP are parties to that certain letter agreement
dated as of August 1, 2005 (the “BP Letter Agreement”). The Servicer, Administrator and BP desire to terminate the BP Letter Agreement. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby
agree as follows: 
 SECTION 1. Amendment to the Sale Agreement. The Sale Agreement is hereby amended by inserting the phrase
“except as set forth in Section 6.18 of the Receivables Purchase Agreement” at the end of clause (b) of Section 1.2 thereof. 

SECTION 2. Amendments to the Receivables Purchase Agreement. The Receivables Purchase Agreement is hereby amended as follows: 

(a) Section 6.1 of the Receivables Purchase Agreement is hereby amended by adding the parenthetical “(other
than the BP Card Issuing and Operating Agreement, Chevron Card Program Master Agreement and Chevron Letter Agreement, which may be amended, modified, waived or supplemented in accordance with Section 2(m) of Exhibit IV of this
Agreement or, with respect to the Chevron Letter Agreement, the terms thereof)” after the phrase “or any other Transaction Document” where it appears therein. 

  
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 (b) The following new Section 6.18 is hereby added to the Receivables
Purchase Agreement immediately following existing Section 6.17 thereof: 
 Section 6.18 BP Purchase
Option. Not later than the date that is ninety (90) days prior to any exercise by BP of its “Option” or “Purchase Option” (in each case, described in clause 1(g) of Exhibit IV) the Seller and FleetCor shall
provide the Administrator and each Purchaser Agent written notice thereof. On and after the date that is ninety (90) days prior to any exercise by BP of such “Option” or “Purchase Option,” the Seller shall cease purchasing
or otherwise acquiring from FleetCor, and FleetCor shall cease selling or otherwise transferring to the Seller, under the Sale Agreement, new Receivables originated pursuant to the BP Card Issuing and Operating Agreement. On and after the date that
is thirty (30) days prior to any exercise by BP of such “Option” or “Purchase Option,” all Receivables originated pursuant to the BP Card Issuing and Operating Agreement shall cease to constitute “Eligible
Receivables” for all purposes. In order to permit BP’s exercise of such “Option” or “Purchase Option,” the Seller may (but shall not be required to), on the date thereof, sell to FleetCor any remaining Receivables it
may then own that were originated pursuant to the BP Card Issuing and Operating Agreement; provided, that FleetCor shall pay the Seller a purchase price equal to fair market value (as reasonably agreed upon by FleetCor and the Seller) in
cash, which purchase price shall constitute Collections for all purposes hereof. In connection with such sale, on the date thereof, the Administrator shall release its security interest and/or ownership interest, if any, in such remaining
Receivables originated pursuant to the BP Card Issuing and Operating Agreement then being reconveyed and such Receivables shall cease to be Pool Receivables. 

(c) The definition of “Adverse Claim” set forth in Exhibit I to the Receivables Purchase Agreement is
hereby replaced in its entirety with the following: 
 “Adverse Claim” means a lien, security interest or
other charge or encumbrance, or any other type of preferential arrangement; it being understood that any thereof in favor of (a) the Administrator (for the benefit of the Purchasers), (b) Chevron with respect to the “Company
Purchase Option” described in clause 1(g) of Exhibit IV shall not in either case constitute an Adverse Claim and (c) BP with respect to the “Option” or “Purchase Option” described in clause 1(g) of
Exhibit IV shall not in either case constitute an Adverse Claim. 
 (d) The definition of “BP Card Issuing and
Operating Agreement” set forth in Exhibit I to the Receivables Purchase Agreement is hereby replaced in its entirety with the following: 

“BP Card Issuing and Operating Agreement” means (x) before February 29, 2016, that certain Card
Issuing and Operating Agreement, dated as of December 21, 2004, between FleetCor and BP, as amended, restated, supplemented or otherwise modified from time to time, and (y) on or after February 29, 2016, means that certain Amended and
Restated Fleet Card Agreement, dated as of February 29, 2016, between FleetCor and BP, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

  
 3 

 (e) Clause (d) of the definition of “Eligible
Receivable” set forth in Exhibit I of the Receivables Purchase Agreement is hereby replaced in its entirety with the following: 

(d) that does not have a stated maturity which is more than 90 days after the original invoice date of such Receivable; 

(f) Clause (q) of the definition of “Eligible Receivable” set forth in Exhibit I to the
Receivables Purchase Agreement is hereby replaced in its entirety with the following: 
 (q) that, if such Receivable is a BP
Receivable, (i) arises under the BP Card Issuing and Operating Agreement and is serviced by the Servicer or by a Person reasonably satisfactory to the Majority Purchaser Agents pursuant to the terms of an alternate sub-servicing agreement, in
form and substance reasonably satisfactory to the Majority Purchaser Agents pursuant to guidelines and policies which have been approved in writing by each of the Majority Purchaser Agents and (ii) has not been deemed ineligible pursuant to
Section 6.18; and 
 (g) The following new clause (e) is hereby added to the definition of
“Excess Concentration Amount” set forth in Exhibit I of the Receivables Purchase Agreement immediately following the existing clause (d) thereof and, in connection therewith, clause (d) is amended by
deleting the period “.” at the end thereof and substituting “; plus” therefor: 
 (e) the amount
(if any) by which (i) the aggregate Outstanding Balance of the Eligible Receivables then in the Receivables Pool that have a stated maturity which is more than 30 days after the original invoice date of such Receivable exceeds (ii) 5.00%
of the aggregate Outstanding Balance of all Eligible Receivables then in the Receivables Pool. 
 (h) Clause
(i) of Section 1(g) set forth in Exhibit IV of the Receivables Purchase Agreement is hereby amended by replacing the phrase “ its “Option”” where it appears therein with the phrase “ its
“Option” (or at any time after February 29, 2016, “Purchase Option”)”. 
 (i) The following new
Section 1(b)(vi) is hereby added to Exhibit IV of the Receivables Purchase Agreement immediately following existing Section 1(b)(v) thereof: 

(vi) Events under Certain Agreements. The occurrence of an event that would (a) constitute an “Early
Termination Event” under and as defined in the Chevron Card Program Master Agreement or such other term used from time to time for such event or (b) permit the early termination of the BP Card Issuing and Operating Agreement under the
terms thereof. 

  
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 (j) The following new Section 2(b)(v) is hereby added to Exhibit
IV of the Receivables Purchase Agreement immediately following existing Section 2(b)(iv) thereof: 
 (v)
Events under Certain Agreements. The occurrence of an event that would (a) constitute an “Early Termination Event” under and as defined in the Chevron Card Program Master Agreement or such other term used from time to time for
such event or (b) permit the early termination of the BP Card Issuing and Operating Agreement under the terms thereof. 

(k) Section 2(m) of Exhibit IV of the Receivables Purchase Agreement is restated in its entirety as follows:

 (m) Certain Agreements. Without the prior written consent of the Administrator, FleetCor will not amend, modify,
waive or supplement any provision of (i) the Chevron Card Program Master Agreement or any document executed and delivered in connection therewith in a manner that adversely affects, directly or indirectly, FleetCor’s rights or remedies or
Chevron’s obligations, as the case may be, under Sections 13.01(g), 13.07(a), 13.22, 13.27 or 16.06 of the Chevron Card Program Master Agreement or (ii) the BP Card Issuing and Operating Agreement or any document executed and delivered in
connection therewith in a manner that adversely affects, directly or indirectly, FleetCor’s rights or remedies or BP’s obligations, as the case may be, under (x) before February 29, 2016, Section 11.5 of the BP Card Issuing
and Operating Agreement and (y) on or after February 29, 2016, Sections 3.2.3 or 16.7 of the BP Card Issuing and Operating Agreement. 

(l) Section (m) of Exhibit V of the Receivables Purchase Agreement is restated in its entirety as follows:

 (m) the Servicer shall amend, modify, waive or supplement any provision of (i) the Chevron Card Program Master
Agreement or any document executed and delivered in connection therewith in a manner that adversely affects, directly or indirectly, Servicer’s rights or remedies or Chevron’s obligations, as the case may be, under Sections 13.01(g),
13.07(a), 13.22, 13.27 or 16.06 of the Chevron Card Program Master Agreement, without the prior written consent of the Administrator or (ii) the BP Card Issuing and Operating Agreement or any document executed and delivered in connection
therewith in a manner that adversely affects, directly or indirectly, Servicer’s rights or remedies or Chevron’s obligations, as the case may be, under (x) before February 29, 2016, Section 11.5 of the BP Card Issuing and
Operating Agreement and (y) on or after February 29, 2016, Sections 3.2.3 or 16.7 of the BP Card Issuing and Operating Agreement, without the prior written consent of the Administrator; or 

  
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 SECTION 3. Authorization of Certain Agreements. The Administrator, Purchasers and
Purchaser Agents hereby consent to (a) the following amendments to the BP Card Issuing and Operating Agreement: Amendment 1, dated November 4, 2005, Amendment 2, dated November 15, 2007, Amendment 3, dated August 27, 2008,
Amendment 4, dated June 16, 2010, Amendment 5, dated September 30, 2010 and Amendment 6, dated April 30, 2012, (b) the amendment and restatement of the BP Card Issuing and Operating Agreement as of February 29, 2016 in
substantially the form (and, in the case of Section 3.2.3 and 16.7 thereof, in the form) delivered to Administrator on November 2, 2015 and (c) concurrently with the amendment and restatement described in clause (b) above,
the termination of that certain letter agreement, dated as of August 1, 2005, among BP, the Servicer, the Seller and the Administrator. 

SECTION 4. Consent to Sale Agreement Amendment. The Administrator and each Purchaser Agent hereby consent to the First Amendment to the
Sale Agreement. 
 SECTION 5. Representations and Warranties of the Seller, Originators and Servicer. Each of the Seller, each
Originator and the Servicer hereby represents and warrants, as to itself, to each of the Administrator, each Purchaser and each Purchaser Agent as follows: 

(a) the representations and warranties made by it in the Transaction Documents are true and correct as of the date hereof
(unless stated to relate solely to an earlier date, in which case such representations or warranties were true and correct as of such earlier date); 

(b) no event has occurred and is continuing, or would result from the transactions contemplated hereby, that constitutes a
Purchase and Sale Termination Event, Unmatured Purchase and Sale Termination Event, Termination Event or an Unmatured Termination Event, and the Facility Termination Date has not occurred; 

(c) the execution and delivery by such Person of this Amendment, and the performance of each of its obligations under this
Amendment and the Receivables Purchase Agreement or Sale Agreement, as applicable, as amended hereby, are within each of its corporate powers and have been duly authorized by all necessary corporate action on its part; and 

(d) this Amendment and the Receivables Purchase Agreement or Sale Agreement, as applicable, as amended hereby, are such
Person’s valid and legally binding obligations, enforceable in accordance with its terms. 
 SECTION 6. Effect of Amendment. All
provisions of the Receivables Purchase Agreement or Sale Agreement, as applicable, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in the Receivables
Purchase Agreement (or in any other Transaction Document) to “this Receivables Purchase Agreement”, “this Sale Agreement”, “this Agreement”, “hereof”, “herein” or words of similar effect referring to
the Receivables Purchase Agreement or Sale 

  
 6 

 
Agreement, as applicable, shall be deemed to be references to the Receivables Purchase Agreement or Sale Agreement, as applicable, as amended by this Amendment. This Amendment shall not be
deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Receivables Purchase Agreement or Sale Agreement, as applicable, other than as set forth herein. 

SECTION 7. Effectiveness. This Amendment shall be effective as of the date hereof upon the Administrator’s receipt of
(a) counterparts of this Amendment duly executed by each of the parties hereto and (b) such other agreements, documents, opinions, and instruments as the Administrator shall request. 

SECTION 8. Miscellaneous. This Amendment shall be binding upon, and inure to the benefit of, the parties hereto and their respective
successors and assigns. This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall
constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 

SECTION 9. Governing Law. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF
NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 

SECTION 10. Severability. If any one or more of the agreements, provisions or terms of this Amendment shall for any reason whatsoever
be held invalid or unenforceable, then such agreements, provisions or terms shall be deemed severable from the remaining agreements, provisions and terms of this Amendment and shall in no way affect the validity or enforceability of the provisions
of this Amendment or the Receivables Purchase Agreement or Sale Agreement, as applicable. 
 SECTION 11. Section Headings. The
various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Receivables Purchase Agreement or Sale Agreement, as applicable, or any provision hereof or thereof. 

[SIGNATURES BEGIN ON NEXT PAGE] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment by their duly authorized
officers as of the date first above written. 
  

			
	FLEETCOR FUNDING LLC, as Seller
		
	By: 	 	/s/ Steve Pisciotta
	Name: Steve Pisciotta
	Title: Treasurer
	
	FLEETCOR TECHNOLOGIES OPERATING COMPANY, LLC, as Servicer and as an Originator
		
	By: 	 	/s/ Steve Pisciotta
	Name: Steve Pisciotta
	Title: Treasurer
	
	CFN HOLDING CO., as an Originator
		
	By: 	 	/s/ Steve Pisciotta
	Name: Steve Pisciotta
	Title: Treasurer
	
	MANNATEC, INC., as an Originator
		
	By: 	 	/s/ Steve Pisciotta
	Name: Steve Pisciotta
	Title: Treasurer
	
	COMDATA INC., as an Originator
		
	By: 	 	/s/ Steve Pisciotta
	Name: Steve Pisciotta
	Title: Assistant Secretary
	
	PACIFIC PRIDE SERVICES, LLC, as an Originator
		
	By: 	 	/s/ Steve Pisciotta
	Name: Steve Pisciotta
	Title: Treasurer

  
 S-1 

First Amendment to Fifth Amended and 

Restated Receivables Purchase Agreement 

(FleetCor) 

 
			
	
	PNC BANK, NATIONAL ASSOCIATION, as a Committed Purchaser and as Purchaser Agent for its Purchaser Group
		
	By: 	 	/s/ Mark Falcione
	Name: Mark Falcione
	Title: Executive Vice President

  
 S-2 

First Amendment to Fifth Amended and 

Restated Receivables Purchase Agreement 

(FleetCor) 

 
			
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Committed Purchaser and as Purchaser Agent for its and Atlantic Asset Securitization LLC’s Purchaser Group
		
	By: 	 	/s/ Kostantina Kourmpetis
	Name: Kostantina Kourmpetis
	Title: Managing Director
		
	By: 	 	/s/ Roger Klepper
	Name: Roger Klepper
	Title: Managing Director
	
	ATLANTIC ASSET SECURITIZATION LLC, as a Conduit Purchaser for Credit Agricole Corporate and Investment Bank’s Purchaser Group
		
	By: 	 	/s/ Kostantina Kourmpetis
	Name: Kostantina Kourmpetis
	Title: Managing Director
		
	By: 	 	/s/ Roger Klepper
	Name: Roger Klepper
	Title: Managing Director

  
 S-3 

First Amendment to Fifth Amended and 

Restated Receivables Purchase Agreement 

(FleetCor) 

 
			
	 WELLS FARGO BANK,

NATIONAL ASSOCIATION,
 as a Committed Purchaser and as
Purchaser Agent for its Purchaser Group

		
	By:   	 	/s/ Eero Maki
	Name: Eero Maki
	Title: Senior Vice President

  
 S-4 

First Amendment to Fifth Amended and 

Restated Receivables Purchase Agreement 

(FleetCor) 

 
			
	REGIONS BANK, as a Committed Purchaser and as Purchaser Agent for its Purchaser Group
		
	By:   	 	/s/ Kathy Myers
	Name: Kathy Myers
	Title: Vice President

  
 S-5 

First Amendment to Fifth Amended and 

Restated Receivables Purchase Agreement 

(FleetCor) 

 
			
	SUMITOMO MITSUI BANKING CORPORATION, as a Committed Purchaser
		
	By:	 	/s/ David W. Kee
	Name:	 	David W. Kee
	Title:	 	Managing Director

  

			
	MANHATTAN ASSET FUNDING COMPANY LLC, as a Conduit Purchaser for Sumitomo Mitsui Banking Corporation’s Purchaser Group
	
	By: MAF Receivables Corp., Its Member
		
	By:	 	/s/ Irina Khaimova
	Name:	 	Irina Khaimova
	Title:	 	Vice President

  

			
	SMBC NIKKO SECURITIES AMERICA, INC., as Purchaser Agent for Sumitomo Mitsui Banking Corporation’s and Manhattan Asset Funding LLC’s Purchaser Group
		
	By:	 	/s/ Yukimi Konno
	Name:	 	Yukimi Konno
	Title:	 	Managing Director

  
 S-6 

First Amendment to Fifth Amended and 

Restated Receivables Purchase Agreement 

(FleetCor) 

 
			
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as a Committed Purchaser
		
	By:	 	/s/ Frank Brown
	Name:	 	Frank Brown
	Title:	 	Managing Director

  

			
	VICTORY RECEIVABLES CORPORATION, as a Conduit Purchaser for The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch’s Purchaser Group
		
	By:	 	/s/ David V. DeAngelis
	Name:	 	David V. DeAngelis
	Title:	 	Vice President

  

			
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as Purchaser Agent for its and Victory Receivables Corporation’s Purchaser Group
		
	By:	 	/s/ Eric Williams
	Name:	 	Eric Williams
	Title:	 	Managing Director

  
 S-7 

First Amendment to Fifth Amended and 

Restated Receivables Purchase Agreement 

(FleetCor) 

 
			
	PNC BANK, NATIONAL ASSOCIATION, as Administrator
		
	By:	 	/s/ Mark Falcione
	Name:	 	Mark Falcione
	Title:	 	Executive Vice President

  
 S-8 

First Amendment to Fifth Amended and 

Restated Receivables Purchase Agreement 

(FleetCor)

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