Document:

EX-4.5

 Exhibit 4.5: Form of Restricted Stock Award Agreement 

 Exhibit 4.5 

FORM OF 
 RESTRICTED
STOCK AWARD AGREEMENT 
 CLIFTON BANCORP INC. 2015 EQUITY INCENTIVE PLAN 

This Award Agreement is provided to
                         (the “Participant”) by Clifton Bancorp Inc. (the “Company”) as of
                            , the date the Compensation Committee of the Board of Directors of the
Company awarded the Participant a Restricted Stock Award pursuant to the Clifton Bancorp Inc. 2015 Equity Incentive Plan (the “2015 Plan”), subject to the terms and conditions of the 2015 Plan and this Award Agreement (hereinafter
referred to as the “Award”): 
  

					
	1.	 	Number of shares subject to your Restricted Stock Award:	 	_________ shares
			
	2.	 	Grant Date:	 	_________

 Unless sooner vested in accordance with the Terms and Conditions (attached hereto) or otherwise in the discretion of the
Committee, the Company common stock underlying your Restricted Stock Award will vest in accordance with the schedule below, provided you are then still employed by or in service with Clifton Savings Bank or any Affiliate. 

 

					
	 Percentage of

Shares Vesting
	 	 Number of Shares Vesting
	 	 Vesting Date

		 		 	
		 		 	

 In the event a Vesting Date falls on a weekend or Bank holiday, your Restricted Stock Award will vest on the
next business day. 
 IN WITNESS WHEREOF, Clifton Bancorp Inc., acting by and through the Compensation Committee of the Board of Directors of the Company
has caused this Award Agreement to be executed as of the date set forth above. 
  

			
	CLIFTON BANCORP INC.
		
	By:	 	  

		 	On Behalf of the Compensation Committees

  

	
	Accepted by Participant:
	
	  

	
	  

	Date

 TERMS AND CONDITIONS 

The following terms and conditions apply to the Award: 

1. Award of Shares. Under the terms of the 2015 Plan, the Company has granted to the Participant an Award, effective on the Grant Date.
To evidence the Award and the terms, conditions and restrictions thereof, the Company and the Participant have signed this Agreement. 
 2.
Award Restrictions. The unvested shares of Company common stock covered by this Award are subject to the following restrictions until they expire or terminate. 
  

	 	(a)	The Participant may not sell, transfer, exchange, assign, pledge, hypothecate or otherwise encumber Award Shares. 

  

	 	(b)	If the Participant’s service or employment with the Bank or any Affiliate terminates for any reason other than death or disability, the Participant will forfeit all rights, title and interest in and to the Award as
of the date of termination, and the Award Shares will revert to the Company under the terms of the 2015 Plan. 

  

	 	(c)	Award Shares are subject to the vesting schedule set forth on Page 1 of this Award Agreement. 

 The
restrictions imposed under Section 2(a)-(c) will expire on the earliest to occur of the following: 
  

	 	(a)	On the respective dates, specified on Page 1 of this Award Agreement, provided you are then still in the service of the Company or an Affiliate; or 

 

	 	(b)	Upon termination of your service by reason of death or Disability; or 

  

	 	(c)	Upon a Change in Control (as defined in the 2015 Plan). 

 3. Stock Issuance. 

(a) The Company shall issue the shares of Company common stock subject to this Award (the “Award Shares”) either: (i) in
certificate form, (ii) in book-entry form or (iii) in trust, in each case with notations as to any restrictions on transfer imposed under this Agreement. 

(b) Any certificates representing any of the Award Shares shall be held by the Company (or as otherwise directed by the Company) until all
restrictions with respect to any such Award Shares lapses (“Restricted Period”) or until the Award Shares are forfeited hereunder. 

(c) As soon as administratively practicable after the Restricted Period lapses for any of the Award Shares, the Company shall either remove
the relevant notations for such Award Shares issued in book-entry form and deliver such shares as directed by the Participant or deliver to the Participant a certificate(s) evidencing the number of Award Shares as to which the Restricted Period has
lapsed. 

 4. Voting Rights. During the Restricted Period, the Participant may exercise full voting
rights with respect to all of the Award Shares. 
 5. Dividends and Other Distributions. During the Restricted Period, subject to
Paragraph 10, all dividends and other distributions paid with respect to the Award Shares in the Company’s common stock shall be held by the Company until payable or forfeited pursuant hereto. Such stock dividends and other stock distributions
shall be subject to the same restrictions on transferability and vesting as the Award Shares with respect to which they were paid and shall, to the extent vested, be paid when and to the extent the underlying Award Shares are vested and freed of
restrictions. Unless otherwise determined by the Committee prior to the time a dividend is paid, dividends paid in cash shall be paid to the Participant at the same time as they are paid to other shareholders of the Company and shall not be subject
to any restrictions under this Agreement. 
 6. Forfeiture on Termination of Employment or Service. If the Participant’s
employment or service with the Company and its Subsidiaries terminates for any reason prior to the end of the Restricted Period, subject to Paragraph 2, any portion of the Award Shares then subject to restrictions, then any Award Shares subject to
restrictions at the date of such termination of the Participant’s employment or service shall be forfeited to the Company immediately upon such termination. For purposes of this Agreement, transfer of employment among the Company and its
Subsidiaries shall not be considered a termination of employment. 
 7. Withholding Taxes. The Company, or any of its Subsidiaries,
shall have the right to retain and withhold the amount of taxes required by any government to be withheld or otherwise deducted and paid with respect to the Award Shares. The Committee may require the Participant or any successor in interest to pay
or reimburse the Company, or any of its Subsidiaries, for any such taxes required to be withheld by the Company, or any of its Subsidiaries, and to withhold any distribution in whole or in part until the Company, or any of its Subsidiaries, is so
paid or reimbursed. In lieu thereof, the Company, or any of its Subsidiaries, shall have the right to withhold from any other cash amounts due or to become due from the Company, or any of its Subsidiaries, to or with respect to Participant an amount
equal to such taxes required to be withheld by the Company, or any of its Subsidiaries, to pay or reimburse the Company, or any of its Subsidiaries, for any such taxes or to retain and withhold a number of shares of the Company’s Common Stock
having a market value not less than the amount of such taxes and cancel any such shares so withheld in order to pay or reimburse the Company, or any of its Subsidiaries, for any such taxes. Employee or any successor in interest is authorized to
deliver shares of the Company’s Common Stock in satisfaction of minimum statutorily required tax withholding obligations. 
 8.
Plan. The Award is granted pursuant to the Plan and is subject to the terms thereof (including all applicable vesting, forfeiture, settlement and other provisions). 

9. Construction and Capitalized Terms. This Agreement shall be administered, interpreted and construed in accordance with the
applicable provisions of the Plan. Capitalized terms in this Agreement have the meaning assigned to them in the Plan, unless this Agreement provides, or the context requires, otherwise.THIS NOTE
AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAWS AND NEITHER THIS NOTE, SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED,
PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION
FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THE HOLDER, WHICH COUNSEL AND OPINION ARE REASONABLY
SATISFACTORY TO COUNSEL FOR THE BORROWER, IS AVAILABLE.

 

EFACTOR
GROUP CORP. 

 

UNSECURED
LOAN AGREEMENT 

	 	 
	Principal Amount: US$1,250,000.00	Issue Date: July 31, 2015
	Actual Amount
of Purchase Price: US$1,000,000.00	

 

FOR
VALUE RECEIVED, EFactor Group Corp., a Nevada corporation (the “Borrower”), promises to pay to Increase
Ventures BV (the “Holder”) the principal sum of One Million Two Hundred Fifty Thousand Dollars ($1,250,000.00),
which amount is the $1,000,000.00 actual amount of the purchase price hereof plus a 25% original issue discount (the “Principal”)
in lawful money of the United States of America, with interest payable thereon at the rate of twelve percent (12%) per annum. The
Principal and all accrued but unpaid interest thereon shall be paid in full to the Holder by December 31, 2015 (the “Maturity
Date”) provided no Conversion (hereinafter defined) has occurred prior to the Maturity Date.

 

This
Note may be prepaid in whole or in part except as otherwise explicitly set forth herein.

 

This
Note is unsecured.

 

The Principal
shall accrue interest for the net amount of the Principal amount less the unpaid tranche and shall be computed on the basis of
a 360-day year (see 3. Interest) and the actual number of days elapsed. All payments due hereunder (to the extent not converted
into shares of common stock, $0.001 par value per share, of the Borrower (the “Common Stock”) in accordance with the
terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address as the
Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Whenever any
amount expressed to be due by the terms of this Note is due on any day which is not a business day, the same shall instead be due
on the next succeeding day which is a business day and, in the case of any interest payment date which is not the date on which
this Note is paid in full, the extension of the due date thereof shall not be taken into account for purposes of determining the
amount of interest due on such date.

 

As used
in this Note, the term “business day” shall mean any day other than a Saturday, Sunday or a day on which commercial
banks in the City of New York, New York are authorized or required by law or executive order to remain closed. As used herein,
the term “Trading Day” means any day that shares of Common Stock are listed for trading or quotation on the OTCBB,
any tier of the NASDAQ Stock Market, the New York Stock Exchange or the NYSE MKT.

 

The following
is a statement of the rights of the Holder of this Note and the terms and conditions to which this Note is subject, and to which
the Holder, by acceptance of this Note, agrees:

 

		1.	Principal Repayment.. The outstanding Principal of this Note, less any
partial prepayments made by the Borrower, shall be payable on the Maturity Date, unless (i) this Note has been earlier converted
as described below, or (ii) the Borrower and the Holder have agreed otherwise in writing.

 

		2.	Repayments. Partial and Full prepayment(s) that Borrower contemplates
shall be subject to approval by Holder. Holder shall have a 7 business day period to accept Repayment or convert the Principal
amount including accrued interest, into shares at the Conversion price.

 

    	 

    	 

    

 

		3.	Interest. Interest (the “Interest”) shall accrue on
the unpaid Principal of this Note from the date hereof until such Principal is repaid in full at the rate of twelve percent (12%)
per annum, payable on the Maturity Date. All computations of the interest rate hereunder shall be made on the basis of a 360-day
year of twelve 30-day months. In the event that any interest rate provided for herein shall be determined to be unlawful, such
interest rate shall be computed at the highest rate permitted by applicable law. All accrued but unpaid Interest may be paid to
the Holder on the Maturity Date, unless this Note has been earlier converted as described below. Any payment by the Borrower of
any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the Principal
of this Note without prepayment premium or penalty.

 

		4.	Conversion. The Holder may, so long as any portion of this Note remains
outstanding and unpaid, convert the Principal of this Note then outstanding (including all accrued but unpaid Interest thereon)
(a “Conversion”) into shares of the Borrower’s common stock (“Common Stock”) at any
time before the Maturity Date by the Holder at a conversion price equal to $4.80 per common share (the “Conversion Price”).

 

		5.	Tranches.  The loan shall be made available in two tranches by the Holder.
The first US$500,000 shall be transferred immediately upon signing this agreement. The second tranche shall be made available subject
to the following items being completed to which all parties shall lend their full cooperation:

 

		·	Update on Freedomlab’s involvement with the Borrower and find agreement
on the various stages of the execution

		·	Update and find agreement on the execution regarding the short term strategy
of the Borrower;

		·	Discussion regarding the Borrower’s plans up to and in the period of
1 year after the Re-IPO;

		·	Discussion and find agreement around the monetization Borrower has envisioned
for the coming year;

		·	Discussion around the anticipated professionalization of PR and IR plan up
to and immediately after the Re-IPO.

 

Parties
have to sign off on each item above once held. Once all items have been signed off on, the second tranche shall be made available
within 5 business days. As all discussions shall be held in the week 34 of 17th August 2015, parties hereby agree that
the intention is to make second tranche available no later then the 25/26 August.

 

Other
agreements: 

Any payment
other than agreed upon in the use of proceeds to be made to one of the members of the Board of Directors shall require written
(email) consent of Holder and/or board member Ad Prins;

 

		6.	Additional Consideration.

 

		(a)	Investor Redemption: If the Issuer fails to make repayment in accordance
with the terms hereunder by the Maturity Date, Investors can redeem the Note at a Redemption Price equal to 135% of the Principal
Amount then outstanding (original principal is $1,250,000 excluding accumulated interest) of the Note. At the Holder’s option,
redemption can be made, either in cash or in restricted Shares at 50% of the closing price per share on the Maturity Date.

 

		(b)	Additional Investment Right: Holder has the right to purchase
up to $0.5 million of Public Units (one common share + one warrant) offered in connection with the Re-IPO financing. Borrower shall
provide notice to Holder of the ReIPO pricing within a reasonable time after the re-IPO pricing is finalized.

 

		(c)	Warrants: On Closing Date the Investors shall have the right to redeem
Warrants for in total 1,500,000 common shares (adjusted for any forward or reverse splits). The Warrants shall be exercisable at
$4.80 (Four dollars eighty cents) per share and shall be subject to any corporate action Company takes in future in line with all
other securities issued by Company. Warrants shall be exercisable for a period of five years from the Closing Date of this Agreement.

 

    	 

    	 

    

 

		(d)	Registration Right: The Borrower shall use its commercially reasonable
effort to file a re-sale registration statement within 60 days after closing of the Re-IPO Financing to register the Restricted
Shares.

 

		7.	Holder’s Representation. Holder hereby represents, warrants,
confirms, acknowledges and agrees that it had a substantive relationship with the Borrower prior to being contacted by the Borrower
to enter into this Unsecured Loan Agreement. Furthermore, (i) Holder is familiar with the Borrower; (ii) Holder was not initially
contacted to enter into this Unsecured Loan Agreement by means of the Borrower’s present registration statement or prospectus
relating to the Re-IPO: (iii) Holder has such knowledge, sophistication and experience in financial and business matters that Holder
is capable of evaluating the merits and risks of owning or otherwise investing in this Unsecured Loan Agreement; has thoroughly
evaluated such merits and risks; and is able to bear all such risks, including, among others, the risk of a complete loss of its
investment; (iv) the Common Stock has not been and will not be registered under the United States Securities Act of 1933, as amended
(the “Securities Act”) or any applicable securities laws of any of the states of the United States; the Common
Stock is “restricted securities” within the meaning of Rule 144 under the Securities Act; and the offer and sale of
the Common Stock is intended to be exempt from the registration requirements of the Securities Act; and (v) the Common Stock may
bar a restrictive legend in substantial the following form: NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE [CONVERTIBLE/EXERCISABLE] HAVE BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR
ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR (B) AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM AND REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION
IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT. 

 

IN WITNESS
WHEREOF, the Borrower has caused this Unsecured Loan Agreement to be issued as of the date first above written.

	 	 	 	 	 
	 	EFACTOR GROUP CORP.
	 	 	 
	 	 	By:	/s/ Adriaan Reinders	 
	 	 	Name: Adriaan Reinders
	 	 	Title: Co-Founder & Chief Executive Officer

 

The Holder represents that
it is an Accredited Investor as defined in Rule 501(a) of Regulation D under the Securities Act.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}]]