Document:

Stipulation of Settlement

 Exhibit 10.1 
 LEVINE, STALLER, SKLAR, CHAN, BROWN & DONNELLY, P.A. 
 Counselors at Law 
 3030 Atlantic Avenue 
 Atlantic City, New Jersey 08401 
 (609) 348-1300 
 Attorneys for Plaintiffs 
  

					
	 TRUMP TAJ MAHAL ASSOCIATES,
LLC,
  
 Plaintiff,
  
 v.
  
 CITY OF ATLANTIC CITY,
  
 Defendant.
	  	 TAX COURT OF NEW JERSEY
  
 DOCKET NOS.: 3789-06 and 6009-07
	  	
	 		
	 TRUMP PLAZA ASSOCIATES, LLC,
  
 Plaintiff,
  
 v.
  
 CITY OF ATLANTIC CITY,
  
 Defendant.
	  	 TAX COURT OF NEW JERSEY
  
 DOCKET NOS.: 3384-04; 3577-05; 4196-06 and 6031-07
	  	
	 		
	 TRUMP MARINA ASSOCIATES, LLC,
  
 Plaintiff,
  
 v.
  
 CITY OF ATLANTIC CITY,
  
 Defendant.
	  	 TAX COURT OF NEW JERSEY
  
 DOCKET NOS.: 3479-04; 3481-04; 3326-05; 3335-05; 3524-06; 3527-06; 6278-07 and 6275-07
	  	

					
	 TRUMP PLAZA ASSOCIATES, LLC,

  
 Plaintiff,
  
 v.
  
 CITY OF ATLANTIC CITY,
  
 Defendant.
	  	 TAX COURT OF NEW JERSEY
  
 DOCKET NOS.: 5889-97; 5027-98; 2968-99; 3671-00; 449-01; 3393-02; 2201-03; 1088-04; 5532-04 (consolidated); 2971-05 and 4991-05
  
 STIPULATION OF SETTLEMENT
	  	

 1. It is hereby stipulated and agreed that all demands for relief with regard to the various blocks and lots
encompassed within the Complaints and Counterclaims in the above captioned matters are hereby withdrawn except that the assessments of the properties set forth in Schedule A (“Properties”) shall be adjusted and judgments shall be entered
in accordance therewith and, it is further 
 2. Stipulated and agreed that the statutory interest pursuant to N.J.S.A. 54:3-27.2, having been waived
by Trump Taj Mahal Associates, LLC (“Taj”), Trump Plaza Associates, LLC and Trump Marina Associates, LLC (hereafter individually “Taxpayer” and collectively, “Taxpayers”), shall not be paid and that Taxpayers also waive
interest due on any judgment entered on the Properties above so long as the terms of this Stipulation of Settlement are not breached by the City of Atlantic City (hereafter “City” or “taxing district”) and, it is further

 3. Stipulated and agreed that the provisions of N.J.S.A. 54:51A-8 (“Freeze Act”) shall not apply to the disposition of this matter
and, it is further 
 4. Stipulated and agreed that the undersigned have made such examination of the value and proper assessment of the properties
and have obtained such appraisals, analysis and information with respect to the valuation and assessment of the properties as they deem necessary and appropriate for the purpose of enabling them to enter into this Stipulation of 

  

 2 

 
Settlement and that the assessor of the taxing district has been consulted by the attorney for the taxing district with respect to this Stipulation of
Settlement and has concurred with the same and, it is further 
 5. Stipulated and agreed that it is the intent of the parties that the reductions in
assessments shown in Schedule A shall result in a collective refund/credit to the Taxpayers of taxes previously paid in the exact aggregate amount of thirty-four million ($34,000,000) dollars (“Refund/Credit”) and that the Refund/Credit
obligation of the City to the Taxpayers shall be equal to the aforesaid exact amount. To effectuate this Refund/Credit, the taxing district shall refund and deliver, within 30 days, time being of the essence, of the execution of this Stipulation of
Settlement, the sum of Twelve Million ($12,000,000) Dollars in immediately available U.S. funds, payable to the order of “Trump Entertainment Resorts Holdings, L.P.” (“TERH”) which shall be delivered within said 30 days, time
being of the essence, to Trump Entertainment Resorts Holdings, L.P., Attn: Robert M. Pickus, Esquire, 15 South Pennsylvania Avenue, Atlantic City, New Jersey 08401 as a partial refund due on account of the aforesaid reductions in assessed values as
set forth in Schedule A and in partial satisfaction of the Refund/Credit. The balance of the Refund/Credit, Twenty-Two Million ($22,000,000) Dollars, shall be applied as credits against future tax payments due on the subject properties in such
amounts as set forth on Schedule B attached hereto and as directed by TERH provided (1) the amounts and dates of the application of such credits shall remain unchanged and (2) any such credits must be applied on account of real property
taxes due from any of the Taxpayers. 
 6. Based upon the foregoing, the undersigned represent to the Court that the above settlement will result in
assessments at the fair assessable value of the Properties consistent with assessing practices generally applicable in the taxing district as required by law. 
  

 3 

 7. Each of the parties represents to the other that all requisite action has been duly taken by such party to authorize
the execution, delivery and performance of the foregoing settlement. 
 8. The parties hereto further stipulate and agree that The Tax Court of New Jersey
may immediately enter judgment incorporating the terms of this Stipulation of Settlement and, to the extent necessary, impose the terms herein. 
 City of
Atlantic City 
  

									
	By:	  	 /s/ William H. Marsh
	 		  	 11/7/07
	 	
		  	The Honorable William H. Marsh	 		  	Date	 	
		  	Mayor of Atlantic City	 		  		 	
					
	By:	  	 /s/ Anthony A. Swan
	 		  	 11/7/07
	 	
		  	 Anthony A. Swan 
	 		  	Date	 	
		  	 Acting City Solicitor, City of Atlantic City
	 		  		 	
				
	Levine, Staller, Sklar, Chan,	 		  		 	
	Brown & Donnelly, P.A.	 		  		 	
					
	By:	  	 /s/ Michael D. Sklar
	 		  	 11/7/07
	 	
		  	Michael D. Sklar, Esq.	 		  	Date	 	
		  	Attorneys for Trump Plaza Associates, LLC,	 		  		 	
		  	Trump Taj Mahal Associates, LLC and	 		  		 	
		  	Trump Marina Associates, LLC	 		  		 	

  

 4 

 TRUMP TAX APPEALS SETTLEMENT 
 SCHEDULE A 
  

														
	 	  	Original
Assessment	  	County Board
Judgment	  	Requested Tax
Court Judgment	  	Relief	  	Tax Rate	 
	 	  	 	  	(Direct Appeals)	  	 	  	 	  	 	 
	 Trump World's Fair
	  			  		  			  		  		
						
	 Tax Year: 1997
	  			  		  			  		  	2.949	%
						
	 Block/Lot: 43/157
	  			  		  			  		  		
	 Land:
	  	$	8,530,000	  	N/A	  	$	8,530,000	  		  		
	 Improvements:
	  	 	181,470,000	  	N/A	  	 	29,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	190,000,000	  	N/A	  	$	37,530,000	  	4,496,340	  		
						
	 Block/Lot: 44/177
	  			  		  			  		  		
	 Land:
	  	$	10,398,700	  	N/A	  	$	10,398,700	  		  		
	 Improvements:
	  	 	19,001,000	  	N/A	  	 	5,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	29,399,700	  	N/A	  	$	15,398,700	  	412,889	  		
						
	 Tax Year: 1998
	  			  		  			  		  	2.878	%
	 Block/Lot: 43/157
	  			  		  			  		  		
	 Land:
	  	$	8,530,000	  	N/A	  	$	8,530,000	  		  		
	 Improvements:
	  	 	181,470,000	  	N/A	  	 	29,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	190,000,000	  	N/A	  	$	37,530,000	  	4,388,087	  		
						
	 Block/Lot: 44/177
	  			  		  			  		  		
	 Land:
	  	$	10,398,700	  	N/A	  	$	10,398,700	  		  		
	 Improvements:
	  	 	19,001,000	  	N/A	  	 	5,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	29,399,700	  	N/A	  	$	15,398,700	  	402,949	  		
						
	 Tax Year: 1999
	  			  		  			  		  	2.957	%
	 Block/Lot: 38/2
	  			  		  			  		  		
	 Land:
	  	$	8,530,000	  	N/A	  	$	8,530,000	  		  		
	 Improvements:
	  	 	181,470,000	  	N/A	  	 	29,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	190,000,000	  	N/A	  	$	37,530,000	  	4,508,538	  		
						
	 Block/Lot: 37/22
	  			  		  			  		  		
	 Land:
	  	$	10,398,700	  	N/A	  	$	10,398,700	  		  		
	 Improvements:
	  	 	18,275,200	  	N/A	  	 	4,900,350	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	28,673,900	  	N/A	  	$	15,299,050	  	395,494	  		
						
	 Tax Year: 2000
	  			  		  			  		  	3.090	%
	 Block/Lot: 38/2
	  			  		  			  		  		
	 Land:
	  	$	8,530,000	  	N/A	  	$	8,530,000	  		  		
	 Improvements:
	  	 	37,460,600	  	N/A	  	 	0	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	45,990,600	  	N/A	  	$	8,530,000	  	1,157,533	  		
						
	 Block/Lot: 37/22
	  			  		  			  		  		
	 Land:
	  	$	10,398,700	  	N/A	  	$	10,398,700	  		  		
	 Improvements:
	  	 	5,619,000	  	N/A	  	 	0	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	16,017,700	  	N/A	  	$	10,398,700	  	173,627	  		

  

 5 

 TRUMP TAX APPEALS SETTLEMENT 
 SCHEDULE A 
  

														
	 	  	Original
Assessment	  	County Board
Judgment	  	Requested Tax
Court Judgment	  	Relief	  	Tax Rate	 
	 Tax Year: 2001
	  			  		  			  		  	3.095	%
	 Block/Lot: 38/2
	  			  		  			  		  		
	 Land:
	  	$	8,530,000	  	N/A	  	$	8,530,000	  		  		
	 Improvements:
	  	 	5,595,800	  	N/A	  	 	0	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	14,125,800	  	N/A	  	$	8,530,000	  	173,190	  		
		  			  		  			  	16,108,647	  		
		  			  		  			  	 	  		
	 Trump Marina
	  			  		  			  		  		
						
	 Tax Year: 2004
	  			  		  			  		  	3.421	%
	 Block/Lot: 571/1
	  			  		  			  		  		
	 Land:
	  	$	31,918,500	  	N/A	  	$	31,918,500	  		  		
	 Improvements:
	  	 	271,300,500	  	N/A	  	 	250,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	303,219,000	  	N/A	  	$	281,918,500	  	728,690	  		
						
	 Tax Year: 2005
	  			  		  			  		  	3.502	%
	 Block/Lot: 571/1
	  			  		  			  		  		
	 Land:
	  	$	31,918,500	  	N/A	  	$	31,918,500	  		  		
	 Improvements:
	  	 	271,300,500	  	N/A	  	 	250,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	303,219,000	  	N/A	  	$	281,918,500	  	745,944	  		
						
	 Tax Year: 2006
	  			  		  			  		  	3.696	%
	 Block/Lot: 571/1
	  			  		  			  		  		
	 Land:
	  	$	31,918,500	  	N/A	  	$	31,918,500	  		  		
	 Improvements:
	  	 	271,300,500	  	N/A	  	 	250,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	303,219,000	  	N/A	  	$	281,918,500	  	787,266	  		
						
	 Tax Year: 2007
	  			  		  			  		  	3.726	%
	 Block/Lot: 571/1
	  			  		  			  		  		
	 Land:
	  	$	31,918,500	  	N/A	  	$	31,918,500	  		  		
	 Improvements:
	  	 	271,300,500	  	N/A	  	 	250,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	303,219,000	  	N/A	  	$	281,918,500	  	793,657	  		
		  			  		  			  	3,055,557	  		
		  			  		  			  	 	  		
	 Trump Plaza
	  			  		  			  		  		
						
	 Tax Year: 2004
	  			  		  			  		  	3.421	%
	 Block/Lot: 39/2
	  			  		  			  		  		
	 Land:
	  	$	8,510,500	  	N/A	  	$	8,510,500	  		  		
	 Improvements:
	  	 	71,228,800	  	N/A	  	 	49,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	79,739,300	  	N/A	  	$	57,510,500	  	760,447	  		
		  			  	34361106.65	  			  		  		

  

 6 

 TRUMP TAX APPEALS SETTLEMENT 
 SCHEDULE A 
  

														
	 	  	Original
Assessment	  	County Board
Judgment	  	Requested Tax
Court Judgment	  	Relief	  	Tax Rate	 
	 Block/Lot: 39/3
	  			  		  			  		  		
	 Land:
	  	$	6,990,700	  	N/A	  	$	6,990,700	  		  		
	 Improvements:
	  	 	57,950,800	  	N/A	  	 	40,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	64,941,500	  	N/A	  	$	46,990,700	  	614,097	  		
						
	 Block/Lot: 39/4
	  			  		  			  		  		
	 Land:
	  	$	8,603,900	  	N/A	  	$	8,603,900	  		  		
	 Improvements:
	  	 	113,727,000	  	N/A	  	 	80,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	122,330,900	  	N/A	  	$	88,603,900	  	1,153,801	  		
						
	 Tax Year: 2005
	  			  		  			  		  	3.502	%
	 Block/Lot: 39/2
	  			  		  			  		  		
	 Land:
	  	$	8,510,500	  	N/A	  	$	8,510,500	  		  		
	 Improvements:
	  	 	71,228,800	  	N/A	  	 	49,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	79,739,300	  	N/A	  	$	57,510,500	  	778,453	  		
						
	 Block/Lot: 39/3
	  			  		  			  		  		
	 Land:
	  	$	6,990,700	  	N/A	  	$	6,990,700	  		  		
	 Improvements:
	  	 	57,950,800	  	N/A	  	 	40,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	64,941,500	  	N/A	  	$	46,990,700	  	628,637	  		
						
	 Block/Lot: 39/4
	  			  		  			  		  		
	 Land:
	  	$	8,603,900	  	N/A	  	$	8,603,900	  		  		
	 Improvements:
	  	 	113,727,000	  	N/A	  	 	80,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	122,330,900	  	N/A	  	$	88,603,900	  	1,181,120	  		
						
	 Tax Year: 2006
	  			  		  			  		  	3.696	%
	 Block/Lot: 39/2
	  			  		  			  		  		
	 Land:
	  	$	8,510,500	  	N/A	  	$	8,510,500	  		  		
	 Improvements:
	  	 	71,228,800	  	N/A	  	 	49,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	79,739,300	  	N/A	  	$	57,510,500	  	821,576	  		
						
	 Block/Lot: 39/3
	  			  		  			  		  		
	 Land:
	  	$	6,990,700	  	N/A	  	$	6,990,700	  		  		
	 Improvements:
	  	 	57,950,800	  	N/A	  	 	40,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	64,941,500	  	N/A	  	$	46,990,700	  	663,462	  		
						
	 Block/Lot: 39/4
	  			  		  			  		  		
	 Land:
	  	$	8,603,900	  	N/A	  	$	8,603,900	  		  		
	 Improvements:
	  	 	113,727,000	  	N/A	  	 	80,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	122,330,900	  	N/A	  	$	88,603,900	  	1,246,550	  		
						
	 Tax Year: 2007
	  			  		  			  		  	3.726	%
	 Block/Lot: 39/2
	  			  		  			  		  		
	 Land:
	  	$	8,510,500	  	N/A	  	$	8,510,500	  		  		
	 Improvements:
	  	 	71,228,800	  	N/A	  	 	49,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	79,739,300	  	N/A	  	$	57,510,500	  	828,245	  		

  

 7 

 TRUMP TAX APPEALS SETTLEMENT 
 SCHEDULE A 
  

														
	 	  	Original
Assessment	  	County Board
Judgment	  	Requested Tax
Court Judgment	  	Relief	  	Tax Rate	 
	 Block/Lot: 39/3
	  			  		  			  		  		
	 Land:
	  	$	6,990,700	  	N/A	  	$	6,990,700	  		  		
	 Improvements:
	  	 	57,950,800	  	N/A	  	 	40,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	64,941,500	  	N/A	  	$	46,990,700	  	668,847	  		
						
	 Block/Lot: 39/4
	  			  		  			  		  		
	 Land:
	  	$	8,603,900	  	N/A	  	$	8,603,900	  		  		
	 Improvements:
	  	 	113,727,000	  	N/A	  	 	80,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	122,330,900	  	N/A	  	$	88,603,900	  	1,256,668	  		
		  			  		  			  	10,601,902	  		
		  			  		  			  	 	  		
	 Trump Taj Mahal
	  			  		  			  		  		
						
	 Tax Year: 2006
	  			  		  			  		  	3.696	%
	 Block/Lot: 61/5
	  			  		  			  		  		
	 Land:
	  	$	61,268,300	  	N/A	  	$	61,268,300	  		  		
	 Improvements:
	  	 	156,745,900	  	N/A	  	 	126,050,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	218,014,200	  	N/A	  	$	187,318,300	  	1,134,520	  		
						
	 Block/Lot: 61/7
	  			  		  			  		  		
	 Land:
	  	$	49,821,000	  	N/A	  	$	49,821,000	  		  		
	 Improvements:
	  	 	251,349,300	  	N/A	  	 	225,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	301,170,300	  	N/A	  	$	274,821,000	  	973,870	  		
						
	 Tax Year: 2007
	  			  		  			  		  	3.726	%
	 Block/Lot: 61/5
	  			  		  			  		  		
	 Land:
	  	$	61,268,300	  	N/A	  	$	61,268,300	  		  		
	 Improvements:
	  	 	156,745,900	  	N/A	  	 	126,050,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	218,014,200	  	N/A	  	$	187,318,300	  	1,143,729	  		
						
	 Block/Lot: 61/7
	  			  		  			  		  		
	 Land:
	  	$	49,821,000	  	N/A	  	$	49,821,000	  		  		
	 Improvements:
	  	 	251,349,300	  	N/A	  	 	225,000,000	  		  		
		  	 	 	  		  	 	 	  		  		
	 Total:
	  	$	301,170,300	  	N/A	  	$	274,821,000	  	981,775	  		
		  			  		  			  	4,233,895	  		
		  			  		  			  	 	  		
		  			  		  			  		  		
		  			  		  			  	 	  		
		  			  		  			  	34,000,000	  		
		  			  		  			  	 	  		

  

 8 

 TRUMP TAX APPEALS SETTLEMENT 
 SCHEDULE A 
  

									
	 	  	 Original
 Assessment
	  	 Requested
 Assessment
	  	 Assessment
 Reduction
	  	 Tax
 Relief

	 WF
	  		  		  		  	
	 1997
	  	221,131,800	  	54,660,800	  	166,471,000	  	4,909,230
	 1998
	  	221,131,800	  	54,660,800	  	166,471,000	  	4,791,035
	 1999
	  	221,131,800	  	55,286,950	  	165,844,850	  	4,904,032
	 2000
	  	66,528,200	  	23,448,600	  	43,079,600	  	1,331,160
	 2001
	  	28,239,900	  	22,644,100	  	5,595,800	  	173,190
		  		  		  		  	 
		  		  		  		  	16,108,647
					
	 Marina
	  		  		  		  	
	 2004
	  	308,138,000	  	286,837,500	  	21,300,500	  	728,690
	 2005
	  	308,138,000	  	286,837,500	  	21,300,500	  	745,944
	 2006
	  	308,138,000	  	286,837,500	  	21,300,500	  	787,266
	 2007
	  	308,138,000	  	286,837,500	  	21,300,500	  	793,657
		  		  		  		  	 
		  		  		  		  	3,055,557
					
	 Plaza
	  		  		  		  	
	 2004
	  	385,728,400	  	311,821,800	  	73,906,600	  	2,528,345
	 2005
	  	385,728,400	  	311,821,800	  	73,906,600	  	2,588,209
	 2006
	  	385,728,400	  	311,821,800	  	73,906,600	  	2,731,588
	 2007
	  	385,728,400	  	311,821,800	  	73,906,600	  	2,753,760
		  		  		  		  	 
		  		  		  		  	10,601,902
					
	 Taj
	  		  		  		  	
	 2006
	  	660,826,800	  	603,781,600	  	57,045,200	  	2,108,391
	 2007
	  	660,826,800	  	603,781,600	  	57,045,200	  	2,125,504
		  		  		  		  	 
		  		  		  		  	4,233,895
					
	 Total
	  		  		  		  	34,000,000
		  		  		  		  	 

  

 9 

 SCHEDULE B 
  

				
	 	  	Amount of Credits
	 2009
	  	$	4,000,000
		
	 2010
	  	$	4,000,000
		
	 2011
	  	$	4,000,000
		
	 2012
	  	$	5,000,000
		
	 2013
	  	$	5,000,000
		  	 	 
		  	$	22,000,000

 Such credits shall be applied in each year beginning with the first quarter tax installment until such credit is
exhausted for such year. 
  

 10Transition Services Agreement

 Exhibit 10.2 
 TRANSITION SERVICES AGREEMENT 
 This TRANSITION SERVICES AGREEMENT (this “Agreement”),
dated as of July 13, 2007, is entered into by and between BankFirst, a South Dakota banking corporation (“BankFirst”) and The Bancorp, Inc., a Delaware corporation (“Bancorp”). 
 WHEREAS, the parties have entered into a Purchase and Assumption Agreement the (“PAA”) dated the date hereof, pursuant to which Bancorp has
agreed to purchase certain assets and assume certain liabilities of BankFirst related to BankFirst’s “Stored Value Solutions” division (the “Business”); and 
 WHEREAS, the parties desire to coordinate an efficient and orderly transition of the Business from BankFirst to Bancorp. 
 THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties agree as follows: 
 1. Cooperation. BankFirst and Bancorp shall, before and after the Closing Date (as defined in the PAA,
the “Closing Date”), cooperate in good faith and make all reasonable efforts to support the Business being transferred from BankFirst to Bancorp at the Closing Date. It is the intent of the parties to transfer the Business to Bancorp in an
expeditious manner and to terminate services hereunder as soon as they are no longer needed by either party. 
 2. ITI Platform.
Bancorp shall obtain all necessary licenses for an ITI platform and take such additional steps as may be necessary so that as soon as reasonably possible after the Closing Date, Bancorp will be able to use its ITI platform to operate the Business.
Until this is accomplished, BankFirst agrees to provide to Bancorp data processing support services from BankFirst’s ITI platform as may be necessary to operate the Business. Bankfirst agrees to provide such services without charge to Bancorp
for 90 days unless extended as provided for in this Agreement. 
 3. Automated Clearing House Services. BankFirst will provide without
charge to Bancorp automated clearing house (“ACH”) credit and debit transaction services to Bancorp in connection with the Business until such time that Bancorp no longer needs such ACH services. Bancorp agrees to take all necessary steps
to provide all ACH services required by the Business as soon as possible after the Closing Date. 
 4. Data Processing. Set
forth on Schedule 4 is a listing of the software/hardware assets being acquired by Bancorp under the PAA, but which BankFirst will continue to need to use until BankFirst can replace such software/hardware assets. Bancorp agrees to provide to
BankFirst without charge to BankFirst access to the data processing software/hardware assets described in Schedule 4 until such access is no longer required by BankFirst but no longer than 90 days after the Closing Date unless extended as provided
for in this Agreement. BankFirst agrees to use its best efforts to develop alternative sources for such data processing needs as soon as reasonably possible after the Closing Date. Access includes the right to utilize the 

 
software/hardware assets as BankFirst currently does subject to Bancorp’s use thereof in the Business, but shall not include the right to make any
changes to the software/hardware assets. Bancorp shall have the right to make changes to the software/hardware assets in its reasonable discretion, provided such changes do not interfere with BankFirst’s use of such assets. In the event such
changes do inadvertently interfere with BankFirst’s use, then Bancorp will work in good faith with BankFirst to correct the situation. 
 5. BIN Services. For a period of up to 180 days after the Closing Date, BankFirst will maintain its membership in the Associations to provide issuance of card accounts related to the Business; however Bancorp will be responsible for
facilitating and funding all settlement activities associated with the Business after the Closing Date. Bancorp agrees to indemnify and hold harmless BankFirst, its parent, subsidiaries, and affiliates, and their respective officers, directors,
employees and permitted assigns (each and “Indemnified Party” and collectively the “Indemnified Parties”), as such, for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses,
and disbursements of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against an Indemnified Party, which in any way arise out of or relate to any act, omission or failure by Bancorp to fulfill its
obligations under this paragraph or otherwise incurred by an Indemnified Party in connection with the provision of services under this paragraph; provided, Bancorp shall not be liable to an Indemnified Party for the foregoing to the extent arising
from such Indemnified Party’s gross negligence or willful misconduct. Bancorp’s indemnification obligations under this paragraph 5 shall survive termination of this Agreement. 
 6. Term and Termination. It is the intent of the parties that the services provided for under this Agreement shall be temporary and each party
agrees to use its reasonable best efforts to minimize the time that it is relying on the other party for the provision of such services. Although it is anticipated that neither party will be dependent upon the other party for any services after the
time period set forth herein, each party agrees that it will continue to provide such services if necessary to avoid a material disruption in the business of the other party. The parties agree to keep each other reasonably informed as to the
progress being made in replacing the services provided for under this Agreement. This Agreement will terminate immediately without notice in the event (a) the PAA is terminated for any reason, (b) any governmental authority with
supervisory authority over BankFirst or Bancorp requires termination, or (c) either party (i) files (or has filed against it) a petition in bankruptcy, (ii) is declared or becomes insolvent, (iii) becomes or has a substantial
part of its assets become subject to a receiver, trustee, custodian, or similar official, (iv) makes a general assignment for the benefit of creditors, or (v) takes any formal action in furtherance of any of the foregoing. 
 7. Confidentiality. Each party agrees to use its reasonable best efforts to maintain the confidentiality of any information either party may
acquire regarding the other party’s operations and in no event will any party use such confidential information to the detriment of the other party. 
  

 8. Further Assurances. Each of BankFirst and Bancorp will execute, acknowledge and deliver
such instruments and take such other actions as the other party may reasonably require in order to carry out the intent of this Agreement. 
 9. Miscellaneous. This Agreement shall be governed by the internal laws, and not by the laws regarding conflict of laws, of the State of Delaware. In the event any part of this Agreement is deemed by a court to be invalid or
unenforceable, such provision shall be deemed to have been omitted, and the remainder of this Agreement shall remain in full force and effect, and shall be modified to the extent necessary to give force and effect to the remaining provisions, but
only to such extent. This Agreement may be executed in separate counterparts which shall collectively and separately be considered one and the same instrument. This Agreement may not be assigned without the written consent of both parties.

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. 
  

									
	BANKFIRST	 		 	THE BANCORP, INC.
					
	By	 	  	 		 	By	 	  
					
	Its	 	 	 		 	Its

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