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nickbrownofferlettersign

                                                                          Exhibit 10.24                                               September 12, 2016                                                                                              Nick Brown                                               Via email: nicholaspeterbrown@yahoo.com                                                       Dear Nick,    We are thrilled that you have agreed to join OnDeck.  In this key role you will have an opportunity to  make an impact and influence the strategic direction of the company at this exciting time.  Following  are the key terms to which we have agreed:          1. Job Title:  At the commencement of your employment, your job title will be Chief Risk Officer.         In that capacity, you will report to Noah Breslow, Chief Executive Officer.             2. Starting Date:  Your start date is November, 28, 2016.          3. Compensation:  Your starting base salary will be $300,000.00 USD annually.  Salaries are usually        reviewed twice a year and increases generally occur at the cycle after your one year        anniversary.          4. Incentive Compensation:  You will receive a one-time Signing Bonus of $100,000.00 USD made        payable in two $50,000.00 increments. The first payment of $50,000.00 USD will be paid on or        about January 31, 2017 and the second payment of $50,000.00 USD will be paid on or about        June 30, 2017. If your employment is terminated within one year of your start date, you will be        responsible for refunding the Signing Bonus in full.                Your annual bonus target will be 50% of your base salary, prorated from your date of hire.        Bonuses are based on achievement of personal and company performance targets to be        detailed by your manager, and are paid semi-annually. Payouts in some cases can exceed your        bonus target. You must be an active employee on the day bonus payments are made to be        eligible for a payout.  The decision to award you a bonus, and the amount of such bonus, if any,        will be made in the sole and absolute discretion of the Company.           5. Equity Compensation:  Subject to approval by the Company’s board of directors or its        compensation committee, it will be recommended that you be granted an equity grant in the        amount of $850,000.  Fifity percent of the grant will be in restricted stock units covering shares        of Company common stock having a “target value” of approximately $425,000.00 USD.  The        remaining 50% will be in stock options.  For purposes of the previous sentence, “target value”        of a single share means the average of the closing prices of the Company’s common stock for        the 30-trading day period ending on the date preceding the grant date of the RSUs.          6. Relocation:  You will receive relocation assistance that will cover expenses of your relocation        from Australia to New York, USA. The amount and terms are to be determined.                                                                                               ondeck   |   1400 Broadway, New York, NY 10018   |   919.232.4343   |   feedback@ondeck.com   |   www.ondeck.com 

 

                                                                           Exhibit 10.24  7. Employee Benefits:  You will be eligible for all OnDeck employee benefits; including sick leave,     medical and dental health insurance, life insurance, long-term disability insurance and business     travel accident insurance. You will be entitled to vacation allowance consistent with similarly     situated team members of the company.  You will be eligible to participate in the OnDeck     401(k) Plan within one month of your start date. If you do not make an election to participate,     you will automatically be enrolled in the plan within one month at a deferral rate of 4%.       All employee benefit plans, programs and policies are subject to modification and the Company     may, in its sole discretion, modify and/or cease making such employee benefit plans, programs     and policies available.    8. Code of Ethics & Conduct:  You agree to comply with the Company’s Code of Conduct. You     further acknowledge that at all times you shall be subject to, observe and carry out such rules,     regulations, policies, directions and restrictions applicable to OnDeck.      Onboarding    Please arrive at 9:00am on your start date, unless otherwise specified by your manager.  Additionally, you will attend New Hire Orientation from 9:00am-5:30pm on a date to be  determined within 2 weeks of your start date. New Hire Orientation is held at OnDeck  Headquarters in New York City at:     1400 Broadway, Suite 2500  New York, NY 10018  (Entrance on Broadway between 38th and 39th Streets)    If the position you are hired for, upon signing this agreement, is based out of either our CO or VA  office, travel and accommodations for orientation will be arranged for you by our onboarding  team.    The terms and conditions of your employment with On Deck Capital, Inc. are governed by the laws  of New York and standard company policies. This means the offer of employment is contingent  upon you satisfactorily meeting all pre-employment requirements including a background check  and proof of your eligibility to work in the United States.     Please understand that this letter is not a contract of continuing employment. Although we hope  that our business relationship will be a long and successful one, your employment with On Deck  Capital, Inc. is “Employment At Will,” which means for no fixed term, and either you or the  Company may terminate the employment relationship at any time and for any reason, and OnDeck  may change the terms and conditions of your employment at any time. In addition, compensation  packages for all OnDeck employees, including you, may change from time to time depending on the  needs and priorities of the business.     Please review the terms and conditions of employment outlined in this letter, sign and date the  acknowledgement on the following page, and return to me. Please also note you will receive an                                                                                   ondeck   |   1400 Broadway, New York, NY 10018   |   919.232.4343   |   feedback@ondeck.com   |   www.ondeck.com 

 

                                                                         Exhibit 10.24  email link from Danica Banes to complete the balance of your new hire documents. Please  complete your new hire documents prior to your start date. On your first day of employment, you  will be required to complete Form I9 and provide documentation proving you are eligible to work  in the United States; a complete list of acceptable documents is available to you with the Form I9.    OnDeck values the unique talents each new hire brings to our organization. We look forward to  welcoming you to our team, and providing you with the opportunity to grow professionally in a  supporting environment. If you have any questions regarding this offer, please contact me.       Sincerely,                                                                         Lorna Hagen                                       Senior Vice President of People Operations  On Deck Capital, Inc.                      Acceptance of Offer    My signature below confirms acceptance of the offer of employment and my understanding of the  terms and conditions associated with it. This signature also confirms that there are no oral  promises associated with this offer that are not reflected in this letter. I further acknowledge that I  have received, read, and agree to all pre-employment conditions and policies.       Accepted and Agreed:        _______________________                         ___________________  Nick Brown                                      Date                                                                                        ondeck   |   1400 Broadway, New York, NY 10018   |   919.232.4343   |   feedback@ondeck.com   |   www.ondeck.comExhibit 10.3

      

      

      

      CONTRACT NUMBER: 2019-000052E

      AMENDMENT TO THE CONTRACT BETWEEN

      ADMINISTRACIÓN DE SEGUROS DE SALUD DE PUERTO RICO (ASES)

      and

      TRIPLE-S SALUD, INC.

      to

      ADMINISTER THE PROVISION OF PHYSICAL

      AND BEHAVIORAL HEALTH SERVICES UNDER THE GOVERNMENT HEALTH PLAN

      

      

      THIS AMENDMENT TO THE CONTRACT BETWEEN ADMINISTRACIÓN DE SEGUROS DE SALUD DE PUERTO RICO (ASES) AND TRIPLE-S SALUD, INC., FOR THE PROVISION OF PHYSICAL AND BEHAVIORAL HEALTH SERVICES UNDER THE GOVERNMENT HEALTH PLAN
        (the “Amendment”) is by and between Triple-S Salud, Inc. (“the Contractor”), a managed care organization duly organized and authorized to do business under the laws of the Government of Puerto Rico, with employer identification number 66-0555677 represented by President, Ms. Madeline Hernández Urquiza, of legal age, single, resident of San Juan, Puerto Rico, and the Puerto Rico Health Insurance Administration
        (Administración de Seguros de Salud de Puerto Rico, hereinafter referred to as “ASES” or “the Administration”), a public corporation of the Commonwealth of
        Puerto Rico, with employer identification number 66-0500678, represented by its Acting Executive Director, Ms. Yolanda García Lugo, of legal age, single and resident of San Juan, Puerto Rico.

      

      

      WHEREAS, the Contractor and ASES executed a Contract for the provision of Physical Health and Behavioral Health Services under the Government Health Plan for the Commonwealth
        of Puerto Rico, on September 21, 2018, (hereinafter referred to as the “Contract”);

      

      

      WHEREAS, the Contract provides, pursuant to Article 55, that the Parties may amend such Contract by mutual written consent;

      

      

      WHEREAS: The contract was amended on October 31, 2019, through Contract Number 2019-000052D,  to amend certain sections, insert others and redesignate others.

      

      

      WHEREAS, all provisions of the Contract will remain in full force and effect as described therein, except as otherwise provided in this Amendment.

      

      

      NOW, THEREFORE, and in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby
        acknowledged, the parties agree to clarify and/or amend the Contract as follows:

      

      

      
        	
                I.

              	
                AMENDMENTS

              

      

      

      

      
        
          	

                	1.	
                  Current Attachment 11 of the Contract shall be replaced in its entirety by a new Attachment 11 as set forth in Exhibit A to this Amendment. Attachment 11-A remains unchanged.

                

        

      

      

      

      
        Page 1

        
          

      

      
        
          	

                	2.	
                  A new Section 22.1.1.1 shall be added:

                

        

      

      

      

      
        
          	

                	1.	
                  For the rating period beginning November 1, 2019 and ending June 30, 2020, the GHP (Vital) PMPM Premium Rates included in Attachment 11 will be updated retroactively for the change in morbidity from the base period used for rate
                    development to the rating period. The change in morbidity, for each rate cell, will be calculated by comparing the risk score based on claims incurred November 2016 – April 2017 (paid through July 2017) to the risk score based on claims
                    incurred November 2019 – April 2020 (paid through July 2020) using CDPS v6.3+Rx.

                

        

      

      

      

      II. RATIFICATION

      

      

      All other terms and provisions of the original Contract, as amended by Contract Amendments A, B, C, D and E and of any and all documents incorporated by reference therein, not specifically deleted or modified herein
        shall remain in full force and effect. The Parties hereby affirm their respective undertakings and representations as set forth therein, as of the date thereof.  Capitalized terms used in this Amendment, if any, shall have the same meaning assigned
        to such terms in the Contract.

      

      

      III. EFFECT; CMS APPROVAL

      

      

      The Parties agree and acknowledge that this Amendment, including any attachments, is subject to approval by the United States Department of Health and Human Services Centers for Medicare and Medicaid Services (“CMS”), and Financial Oversight and Management Board of Puerto Rico (“FOMB”); ASES shall submit this Amendment for approval by those regulatory bodies;

      

      

      Following CMS and FOMB approval of the updated PMPM Payment rates attached hereto as Exhibit A, which the Parties acknowledge and agree may occur after the Amendment Effective
        Date (defined in Amendment § IV below), such updated PMPM Payment rates shall be applied as of November 1, 2019 (the “Updated PMPM Payment Rates”) as agreed upon in Contract Amendment 2019-000052D; provided that,

      

      

      
        
          	

                	(1)	
                  Notwithstanding the foregoing, because Updated PMPM Payment Rates are subject to CMS and FOMB approval, ASES will continue to pay Contractor at the PMPM Payment rates that existed prior to the Amendment Effective Date until such time
                    as the Updated PMPM Payment Rates have been approved by CMS and the FOMB; and

                

        

      

      

      

      
        
          	

                	(2)	
                  Within thirty (30) calendar days following CMS and FOMB approval of Updated PMPM Payment Rates, the parties shall begin to reconcile any difference between (i) PMPM Payments that ASES made to Contractor after November 1, 2019, and
                    (ii) Updated PMPM Payment Rates.

                

        

      

      

      

      IV. AMENDMENT EFFECTIVE DATE

      

      

      Contingent upon approval of CMS and the FOMB, this Amendment shall become effective as of the date of its signature and (the “Amendment Effective Date”), and remains in effect
        throughout the term of the Contract.

      

      

      
        Page 2

        
          

      

      V. ENTIRE AGREEMENT

      

      

      This Amendment constitutes the entire understanding and agreement of the Parties with regards to the subject matter hereof, and the parties by their execution and delivery of this Second Amendment to the Contract
        hereby ratify all of the terms and conditions of the Contract, as amended by Contract Number 2019-000052, including amendments A, B, C, D and E, as supplemented by this Agreement.

      

      

      The Parties agree that ASES will be responsible for the submission and registration of this Amendments in the Office of the Comptroller General of the Commonwealth, as required under law and applicable regulations.

      

      

      [Signature Page Follows]

       

      

      
        Page 3

        
          

      

      
        ACKNOWLEDGED BY THE PARTIES by their duly authorized representatives on this 15 day of November, 2019.

      

       

      

      	
              ADMINISTRACIÓN DE SEGUROS DE SALUD DE PUERTO RICO (ASES)

            
	/s/ Yolanda Garcia Lugo

            	 	
              11-15-2019

              

            
	
              EIN: 66-05000678

            	 	
              Date

            
	 	 	 
	
              TRIPLE-S SALUD, INC.

            	 	 
	/s/ Ms. Madeline Hernández Urquiza 	 	11-15-2019 
	
              Ms. Madeline Hernández Urquiza, President

            	 	
              Date

            
	
              EIN: 66-0555677

            	 	 
	 	 	 
	
              Account No. 256-5325 to 5330

            	 	 

      

      

      
        Page 4

        
          

      

      Exhibit A

      (Attachment 11)

      

      

      
        Page 5

        
          

      

      
        Administración de Seguros de Salud

        
          November 1, 2019 to June 30, 2020

          
            GHP (Vital) PMPM Premium Rates

             

            

          

        

      

      	 	
              Rate Cell

            	 	PMPM	 
	 	 	 	 	 
	 	
              Medicaid Pulmonary

            	 	
              $

            	
              216.74

            	 
	 	
              Medicaid Diabetes/Low Cardio

            	 	
              $

            	
              345.14

            	 
	 	
              Medicaid High Cardio

            	 	
              $

            	
              753.97

            	 
	 	
              Medicaid Renal

            	 	
              $

            	
              1,552.27

            	 
	 	
              Medicaid Cancer

            	 	
              $

            	
              1,847.48

            	 
	 	
              Medicaid Male 45+

            	 	
              $

            	
              129.43

            	 
	 	
              Medicaid Male 19-44

            	 	
              $

            	
              93.37

            	 
	 	
              Medicaid Male 14-18

            	 	
              $

            	
              79.80

            	 
	 	
              Medicaid Female 45+

            	 	
              $

            	
              169.85

            	 
	 	
              Medicaid Female 19-44

            	 	
              $

            	
              116.15

            	 
	 	
              Medicaid Female 14-18

            	 	
              $

            	
              89.27

            	 
	 	
              Medicaid Age 7-13

            	 	
              $

            	
              81.68

            	 
	 	
              Medicaid Age 1-6

            	 	
              $

            	
              91.26

            	 
	 	
              Medicaid Under 1

            	 	
              $

            	
              251.79

            	 
	 	
              Commonwealth Pulmonary

            	 	
              $

            	
              147.47

            	 
	 	
              Commonwealth Diabetes/Low Cardio

            	 	
              $

            	
              183.03

            	 
	 	
              Commonwealth High Cardio

            	 	
              $

            	
              404.40

            	 
	 	
              Commonwealth Renal

            	 	
              $

            	
              626.39

            	 
	 	
              Commonwealth Cancer

            	 	
              $

            	
              1,350.69

            	 
	 	
              Commonwealth Male 45+

            	 	
              $

            	
              71.54

            	 
	 	
              Commonwealth Male 19-44

            	 	
              $

            	
              50.92

            	 
	 	
              Commonwealth Male 14-18

            	 	
              $

            	
              48.57

            	 
	 	
              Commonwealth Female 45+

            	 	
              $

            	
              98.72

            	 
	 	
              Commonwealth Female 19-44

            	 	
              $

            	
              80.86

            	 
	 	
              Commonwealth Female 14-18

            	 	
              $

            	
              58.80

            	 
	 	
              Commonwealth Age 7-13

            	 	
              $

            	
              65.19

            	 
	 	
              Commonwealth Age 1-6

            	 	
              $

            	
              74.12

            	 
	 	
              Commonwealth Under 1

            	 	
              $

            	
              265.59

            	 
	 	
              CHIP Pulmonary

            	 	
              $

            	
              195.17

            	 
	 	
              CHIP Diabetes

            	 	
              $

            	
              536.72

            	 
	 	
              CHIP Age 7-13

            	 	
              $

            	
              72.98

            	 
	 	
              CHIP Age 14+

            	 	
              $

            	
              66.67

            	 
	 	
              CHIP Age 1-6

            	 	
              $

            	
              93.68

            	 
	 	
              CHIP Under 1

            	 	
              $

            	
              260.73

            	 
	 	
              Dual Eligible Part A and B

            	 	
              $

            	
              829.44

            	 
	 	
              Dual Eligible Part A Only

            	 	
              $

            	
              331.24

            	 
	 	
              Maternity Delivery Kick Payment

            	 	
              $

            	
              4,641.59

            	 

      

      

      
        Page 6

        
          

      

      For the period of November 1, 2019 until June 30, 2020, the above rates will be updated retroactively for the change in morbidity from the base period used for rate development to the rating period.  The change in
        morbidity, for each rate cell, will be calculated by comparing the risk score based on claims incurred November 2016 – April 2017 (paid through July 2017) to the risk score based on claims incurred November 2019 – April 2020 (paid through July
        2020) using CDPS v6.3+Rx.

       
        Administración de Seguros de Salud

        
          April 1, 2019 until March 31, 2020

          
            PSG (Mi Salud) PMPM Premium Rate

             

            

          

        

      

      	 	
              Rate Cell

            	 	
              PMPM Premium Rate

            	 
	 	
              Law 72, Article VI Public Employees and Pensioners*

            	 	
              $

            	
              180.00

            	 

      

      

      Enrollees within the Law 72, Article VI Public Employees and Pensioners rate cell are not subject to Attachment 28, and instead shall remain in the Law 72, Article VI Public Employees and Pensioners rate cell during
        the term of their enrollment.

       

      

       

      

      
        Page 7

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