Document:

EX-10.6

 Exhibit 10.6 

ASSET REPRESENTATIONS REVIEW AGREEMENT 

among 
 AMERICREDIT AUTOMOBILE
RECEIVABLES TRUST 2021-3, 
 Issuer 

AMERICREDIT FINANCIAL SERVICES, INC., 

Servicer 
 and 

CLAYTON FIXED INCOME SERVICES LLC, 

Asset Representations Reviewer 

Dated as of November 17, 2021 

 TABLE OF CONTENTS 
  

							
	 ARTICLE I DEFINITIONS
	  	 	1	 
	 Section 1.1.
	  	Definitions	  	 	1	 
	 Section 1.2.
	  	Additional Definitions	  	 	1	 
	 ARTICLE II ENGAGEMENT OF ASSET REPRESENTATIONS REVIEWER
	  	 	2	 
	 Section 2.1.
	  	Engagement; Acceptance	  	 	2	 
	 Section 2.2.
	  	Confirmation of Status	  	 	3	 
	 ARTICLE III ASSET REPRESENTATIONS REVIEW PROCESS
	  	 	3	 
	 Section 3.1.
	  	Asset Review Notices	  	 	3	 
	 Section 3.2.
	  	Identification of Asset Review Receivables	  	 	3	 
	 Section 3.3.
	  	Asset Review Materials	  	 	3	 
	 Section 3.4.
	  	Performance of Asset Reviews	  	 	4	 
	 Section 3.5.
	  	Asset Review Reports	  	 	4	 
	 Section 3.6.
	  	Asset Review Representatives	  	 	5	 
	 Section 3.7.
	  	Dispute Resolution	  	 	5	 
	 Section 3.8.
	  	Limitations on Asset Review Obligations	  	 	5	 
	 ARTICLE IV ASSET REPRESENTATIONS REVIEWER
	  	 	6	 
	 Section 4.1.
	  	Representations and Warranties	  	 	6	 
	 Section 4.2.
	  	Covenants	  	 	7	 
	 Section 4.3.
	  	Fees and Expenses	  	 	8	 
	 Section 4.4.
	  	Limitation on Liability	  	 	9	 
	 Section 4.5.
	  	Indemnification	  	 	9	 
	 Section 4.6.
	  	Right to Audit	  	 	10	 
	 Section 4.7.
	  	Delegation of Obligations	  	 	10	 
	 Section 4.8.
	  	Confidential Information	  	 	10	 
	 Section 4.9.
	  	Security and Safeguarding Information	  	 	13	 
	 ARTICLE V . RESIGNATION AND REMOVAL
	  	 	14	 
	 Section 5.1.
	  	Resignation and Removal of Asset Representations Reviewer	  	 	14	 
	 Section 5.2.
	  	Engagement of Successor	  	 	15	 
	 Section 5.3.
	  	Merger, Consolidation or Succession	  	 	15	 
	 ARTICLE VI OTHER AGREEMENTS
	  	 	16	 
	 Section 6.1.
	  	Independence of Asset Representations Reviewer	  	 	16	 
	 Section 6.2.
	  	No Petition	  	 	16	 
	 Section 6.3.
	  	Limitation of Liability of Owner Trustee	  	 	16	 
	 Section 6.4.
	  	Termination of Agreement	  	 	16	 
	 ARTICLE VII MISCELLANEOUS PROVISIONS
	  	 	17	 
	 Section 7.1.
	  	Amendments	  	 	17	 
	 Section 7.2.
	  	Assignment; Benefit of Agreement; Third Party Beneficiaries	  	 	17	 
	 Section 7.3.
	  	Notices	  	 	17	 
	 Section 7.4.
	  	GOVERNING LAW	  	 	18	 
	 Section 7.5.
	  	Submission to Jurisdiction	  	 	18	 
	 Section 7.6.
	  	No Waiver; Remedies	  	 	18	 
	 Section 7.7.
	  	Severability	  	 	18	 
	 Section 7.8.
	  	Headings	  	 	19	 
	 Section 7.9.
	  	Counterparts and Consent to Do Business Electronically	  	 	19	 

 SCHEDULES 
 Schedule A
    Representations and Warranties and Procedures to be Performed 

  
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 ASSET REPRESENTATIONS REVIEW AGREEMENT dated as of November 17, 2021
(this “Agreement”), among AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2021-3, a Delaware statutory trust (the “Issuer”), AMERICREDIT FINANCIAL SERVICES, INC., a Delaware
corporation (“AmeriCredit”), in its capacity as Servicer (in such capacity, the “Servicer”) and CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company, as Asset Representations Reviewer (the
“Asset Representations Reviewer”). 
 WHEREAS, in the regular course of its business, AmeriCredit purchases
retail installment sale contracts secured by new and used automobiles, light-duty trucks, vans and minivans and utility vehicles from motor vehicle dealers. 

WHEREAS, in connection with a securitization transaction sponsored by AmeriCredit, AmeriCredit sold a pool of Receivables to
AFS SenSub Corp. (the “Seller”) which, in turn, sold those Receivables to the Issuer. 
 WHEREAS, the
Issuer has granted a security interest in the Receivables to the Trust Collateral Agent, for the benefit of the Issuer Secured Parties, pursuant to the Indenture. 

WHEREAS, the Issuer has determined to engage the Asset Representations Reviewer to perform reviews of certain Receivables for
compliance with the representations and warranties made by AmeriCredit and the Seller about the Receivables in the pool. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties agree as follows. 

ARTICLE I 
 DEFINITIONS 

Section 1.1.    Definitions. Capitalized terms that are used but are not otherwise defined in
this Agreement have the meanings assigned to them in the Sale and Servicing Agreement, dated as of November 17, 2021, by and among the Issuer, the Seller, the Servicer and The Bank of New York Mellon, a New York banking corporation, as Trust
Collateral Agent. 
 Section 1.2.    Additional Definitions.   The following terms
have the meanings given below: 
 “Asset Review” means the performance by the Asset Representations
Reviewer of the testing procedures for each Test and each Asset Review Receivable in accordance with Section 3.4. 

“Asset Review Demand Date” means, for an Asset Review, the date when the Trust Collateral Agent determines
that each of (a) the Delinquency Trigger has occurred and (b) the required percentage of Noteholders has voted to direct an Asset Review under Section 7.2(f) of the Indenture. 

“Asset Review Fee” has the meaning assigned to such term in Section 4.3(b). 

 “Asset Review Materials” means, with respect to an Asset
Review and an Asset Review Receivable, the documents and other materials for each Test listed under “Documents” in Schedule A. 

“Asset Review Notice” means the notice from the Trustee to the Asset Representations Reviewer and the
Servicer directing the Asset Representations Reviewer to perform an Asset Review. 
 “Asset Review
Receivable” means, with respect to any Asset Review, each Receivable that is not a Liquidated Receivable and with respect to which the related Obligor failed to make at least 90% of the related Scheduled Receivables Payment by the date on
which it was due and, as of the last day of the Collection Period prior to the date the related Asset Review Notice was delivered, remained unpaid for sixty (60) days or more from the original payment due date. 

“Asset Review Report” means, with respect to any Asset Review, the report of the Asset Representations
Reviewer prepared in accordance with Section 3.5. 
 “Basic Documents” has the meaning assigned to
such term in Section 1.1 of the Sale and Servicing Agreement. 
 “Clayton” means Clayton Fixed Income
Services LLC. 
 “Confidential Information” has the meaning assigned to such term in Section 4.8(a).

 “Eligible Asset Representations Reviewer” means a Person that (a) is not an Affiliate of
AmeriCredit, the Seller, the Servicer, the Trustee, the Trust Collateral Agent, the Owner Trustee or any of their Affiliates and (b) was not, and is not an Affiliate of a Person that was, engaged by AmeriCredit or any Underwriter to perform any
due diligence on the Receivables prior to the Closing Date. 
 “Test” has the meaning assigned to such term
in Section 3.4(a). 
 “Test Complete” has the meaning assigned to such term in Section 3.4(c).

 “Test Fail” has the meaning assigned to such term in Section 3.4(a). 

“Test Pass” has the meaning assigned to such term in Section 3.4(a). 

“Trustee” has the meaning assigned to such term in Section 1.1 of the Sale and Servicing Agreement. 

ARTICLE II 
 ENGAGEMENT OF ASSET
REPRESENTATIONS REVIEWER 
 Section 2.1.    Engagement; Acceptance. The Issuer hereby
engages Clayton to act as the Asset Representations Reviewer for the Issuer. Clayton accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement. 

  
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 Section 2.2.    Confirmation of
Status.     The parties confirm that the Asset Representations Reviewer is not responsible for (a) reviewing the Asset Review Receivables for compliance with the representations and warranties under the Basic Documents,
except as described in this Agreement, or (b) determining whether noncompliance with the representations or warranties constitutes a breach of the Basic Documents. 

ARTICLE III 
 ASSET REPRESENTATIONS
REVIEW PROCESS 
 Section 3.1.    Asset Review Notices. Upon receipt of an Asset Review
Notice from the Trustee in the manner set forth in Section 7.2(f) of the Indenture, the Asset Representations Reviewer will start an Asset Review. The Asset Representation Reviewer will have no obligation to start an Asset Review unless and
until an Asset Review Notice is received. Any Asset Review Notice is to be sent pursuant to Section 12.3(a) of the Sale and Servicing Agreement. 

Section 3.2.    Identification of Asset Review Receivables.   Within ten
(10) Business Days of receipt of an Asset Review Notice, the Servicer will deliver to the Asset Representations Reviewer and the Trustee a list of the related Asset Review Receivables. 

Section 3.3.    Asset Review Materials. 

(a)      Access to Asset Review Materials.   The Servicer will give the Asset
Representations Reviewer access to the Asset Review Materials for all of the Asset Review Receivables within sixty (60) days of receipt of the Asset Review Notice in one (1) or more of the following ways: (i) by providing access to
the Servicer’s receivables systems, either remotely or at one of the properties of the Servicer; (ii) by electronic posting to a password-protected website to which the Asset Representations Reviewer has access; (iii) by providing
originals or photocopies at one (1) of the properties of the Servicer where the related Receivable Files are located; or (iv) in another manner agreed by the Servicer and the Asset Representations Reviewer. The Servicer may redact or
remove Non-Public Personal Information (as defined in Section 4.8) from the Asset Review Materials so long as such redaction or removal does not change the meaning or usefulness of the Asset Review
Materials for purposes of the Asset Review. Any Asset Review Notice is to be sent pursuant to Section 12.3(a) of the Sale and Servicing Agreement. 

(b)    Missing or Insufficient Asset Review Materials.   If any of the Asset Review
Materials are missing or insufficient for the Asset Representations Reviewer to perform any Test, the Asset Representations Reviewer will notify the Servicer promptly, and in any event no less than twenty (20) days before completing the Asset
Review, and the Servicer will have fifteen (15) days to give the Asset Representations Reviewer access to such missing Asset Review Materials or other documents or information to correct the insufficiency. If the missing or insufficient Asset
Review Materials have not been provided by the Servicer within fifteen (15) days, the parties agree that the Asset Review Receivable will have a Test Fail for the related Test(s) and the Test(s) will be considered completed and the Asset Review
Report will indicate the reason for the Test Fail. 

  
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 Section 3.4.    Performance of Asset
Reviews. 
 (a)    Test Procedures. For an Asset Review, the Asset Representations Reviewer
will perform for each Asset Review Receivable the procedures listed under “Procedures to be Performed” in Schedule A for each representation and warranty (each, a “Test”), using the Asset Review Materials listed for each
such Test in Schedule A. For each Test and Asset Review Receivable, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a “Test
Fail”). 
 (b)    Asset Review Period. The Asset Representations Reviewer will complete
the Asset Review of all of the Asset Review Receivables within sixty (60) days of receiving access to the Asset Review Materials under Section 3.3(a). However, if additional Asset Review Materials are provided to the Asset Representations
Reviewer in accordance with Section 3.3(b), the Asset Review period will be extended for an additional thirty (30) days. 

(c)    Completion of Asset Review for Certain Asset Review Receivables. Following the delivery of
the list of the Asset Review Receivables and before the delivery of the Asset Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if an Asset Review Receivable is paid in full by the
related Obligor or purchased from the Issuer by AmeriCredit, the Seller or the Servicer according to the Basic Documents. On receipt of any such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Asset
Review Receivables and the Asset Review of such Receivables will be considered complete (a “Test Complete”). In this case, the Asset Review Report will indicate a Test Complete for the related Asset Review Receivables and the
related reason. 
 (d)    Previously Reviewed Receivable. If any Asset Review Receivable was
included in a prior Asset Review, the Asset Representations Reviewer will not perform any Tests on it, but will include the results of the previous Tests in the Asset Review Report for the current Asset Review. 

(e)    Termination of Asset Review. If an Asset Review is in process and the Notes will be paid in
full on the next Distribution Date, the Servicer will notify the Asset Representations Reviewer and the Trustee no less than ten (10) days before that Distribution Date. On receipt of the notice, the Asset Representations Reviewer will
terminate the Asset Review immediately and will have no obligation to deliver an Asset Review Report. 

Section 3.5.    Asset Review Reports. Within five (5) days of the end of the Asset Review
period under Section 3.4(b), the Asset Representations Reviewer will deliver to the Issuer, the Servicer and the Trustee an Asset Review Report indicating for each Asset Review Receivable whether there was a Test Pass or a Test Fail for each
Test, or whether the Asset Review Receivable was a Test Complete and the related reason. The Asset Review Report will contain a summary of the Asset Review results to be included in the Issuer’s Form 10-D
report for the Collection Period in which the Asset Review Report is received. The Asset Representations Reviewer will ensure that the Asset Review Report does not contain any Non-Public Personal Information.

  
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 Section 3.6.    Asset Review
Representatives. 
 (a)    Servicer Representative.   The Servicer will designate
one (1) or more representatives who will be available to assist the Asset Representations Reviewer in performing the Asset Review, including responding to requests and answering questions from the Asset Representations Reviewer about access to
Asset Review Materials on the Servicer’s receivables systems, obtaining missing or insufficient Asset Review Materials and/or providing clarification of any Asset Review Materials or Tests. 

(b)    Asset Representations Reviewer Representative.   The Asset Representations
Reviewer will designate one (1) or more representatives who will be available to the Issuer and the Servicer during the performance of an Asset Review. 

(c)    Questions About Asset Review.   The Asset Representations Reviewer will make
appropriate personnel available to respond in writing to written questions or requests for clarification of any Asset Review Report from the Trustee or the Servicer until the earlier of (i) the payment in full of the Notes and (ii) one (1)
year after the delivery of the Asset Review Report. The Asset Representations Reviewer will have no obligation to respond to questions or requests for clarification from Noteholders or any other Person and will direct such Persons to submit written
questions or requests to the Trustee. 
 Section 3.7.    Dispute Resolution. If an Asset
Review Receivable that was reviewed by the Asset Representations Reviewer is the subject of a dispute resolution proceeding under Section 3.13 of the Sale and Servicing Agreement, the Asset Representations Reviewer will participate in the
dispute resolution proceeding on request of a party to the proceeding. The reasonable out-of-pocket expenses of the Asset Representations Reviewer for its participation
in any dispute resolution proceeding will be considered expenses of the requesting party for the dispute resolution and will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the dispute resolution
according to Section 3.13 of the Sale and Servicing Agreement; provided, however, if such amounts are paid by the Trustee or the Trust Collateral Agent and are not reimbursed by directing Noteholders, the Trustee or Trust Collateral
Agent, as applicable, shall be reimbursed by the Issuer pursuant to Section 5.7(a)(ii) of the Sale and Servicing Agreement without counting toward the calculation of any cap on fees, expenses or indemnities thereunder. If not paid by a party to
the dispute resolution, the expenses will be reimbursed by the Issuer according to Section 4.3(d). 

Section 3.8.    Limitations on Asset Review Obligations. 

(a)    Asset Review Process Limitations.   The Asset Representations Reviewer will have
no obligation: 
 (i)    to determine whether a Delinquency Trigger has occurred or
whether the required percentage of Noteholders has voted to direct an Asset Review under the Indenture, and is entitled to rely on the information in any Asset Review Notice delivered by the Trustee; 

(ii)    to determine which Receivables are subject to an Asset Review, and is entitled to
rely on the lists of Asset Review Receivables provided by the Servicer; 

  
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 (iii)    to obtain or confirm the
validity of the Asset Review Materials and will be entitled to rely on the accuracy and completeness of the Asset Review Materials; 

(iv)    to obtain missing or insufficient Asset Review Materials from any party or any
other source; 
 (v)    to take any action or cause any other party to take any action
under any of the Basic Documents or otherwise to enforce any remedies against any Person for breaches of representations or warranties about the Asset Review Receivables; 

(vi)    to determine the reason for the delinquency of any Asset Review Receivable, the
creditworthiness of any Obligor, the overall quality of any Asset Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of such Asset Review Receivable; or 

(vii)    to establish cause, materiality or recourse for any failed Test as described in
Section 3.4. 
 (b)    Testing Procedure Limitations. The Asset Representations Reviewer
will only be required to perform the testing procedures listed under “Procedures to be Performed” in Schedule A, and will have no obligation to perform additional procedures on any Asset Review Receivable or to provide any information
other than an Asset Review Report indicating for each Asset Review Receivable whether there was a Test Pass or a Test Fail for each Test, or whether the Asset Review Receivable was a Test Complete and the related reason. However, the Asset
Representations Reviewer may provide additional information about any Asset Review Receivable that it determines in good faith to be material to the Asset Review. 

ARTICLE IV 
 ASSET REPRESENTATIONS
REVIEWER 
 Section 4.1.    Representations and Warranties . 

(a)    Representations and Warranties. The Asset Representations Reviewer represents and warrants
to the Issuer as of the date of this Agreement: 
 (i)    Organization and
Qualification. The Asset Representations Reviewer is duly organized and validly existing as a limited liability company in good standing under the laws of Delaware. The Asset Representations Reviewer is qualified as a limited liability company
in good standing and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its properties or the conduct of its activities requires the qualification, license or approval, unless the failure to
obtain the qualifications, licenses or approvals would not reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement. 

(ii)    Power, Authority and Enforceability. The Asset Representations Reviewer has
the power and authority to execute, deliver and perform its obligations under this Agreement. The Asset Representations Reviewer has authorized the execution, delivery and 

  
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performance of this Agreement. This Agreement is the legal, valid and binding obligation of the Asset Representations Reviewer enforceable against the Asset Representations Reviewer, except as
may be limited by insolvency, bankruptcy, reorganization or other laws relating to the enforcement of creditors’ rights or by general equitable principles. 

(iii)    No Conflicts and No Violation. The completion of the transactions
contemplated by this Agreement and the performance of the Asset Representations Reviewer’s obligations under this Agreement will not (A) conflict with, or be a breach or default under, any indenture, agreement, guarantee or similar
agreement or instrument under which the Asset Representations Reviewer is a party, (B) result in the creation or imposition of any Lien on any of the assets of the Asset Representations Reviewer under the terms of any indenture, agreement,
guarantee or similar agreement or instrument, (C) violate the organizational documents of the Asset Representations Reviewer or (D) violate any law or, to the Asset Representations Reviewer’s knowledge, any order, rule or regulation
that applies to the Asset Representations Reviewer of any court or of any federal or State regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer, in each case, which
conflict, breach, default, Lien or violation would reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement. 

(iv)    No Proceedings. To the Asset Representations Reviewer’s knowledge,
there are no proceedings or investigations pending or threatened in writing before any court, regulatory body, administrative agency, or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer or its
properties: (A) asserting the invalidity of this Agreement, (B) seeking to prevent the completion of any of the transactions contemplated by this Agreement or (C) seeking any determination or ruling that would reasonably be expected
to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under, or the validity or enforceability of, this Agreement. 

(v)    Eligibility. The Asset Representations Reviewer is an Eligible Asset
Representations Reviewer. 
 (b)    Notice of Breach. On discovery by the Asset Representations
Reviewer, the Issuer, the Trustee or the Servicer of a material breach of any of the representations and warranties in Section 4.1(a), the party discovering such breach will give prompt notice to the other parties. 

Section 4.2.    Covenants. The Asset Representations Reviewer covenants and agrees that: 

(a)    Eligibility. It will notify the Issuer and the Servicer promptly if it is not, or on the
occurrence of any action that would result in it not being, an Eligible Asset Representations Reviewer. 

  
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 (b)    Review Systems. It will maintain business
process management and/or other systems necessary to ensure that it can perform each Test and, on execution of this Agreement, will load each Test into these systems. The Asset Representations Reviewer will ensure that these systems allow for each
Asset Review Receivable and the related Asset Review Materials to be individually tracked and stored as contemplated by this Agreement. 

(c)    Personnel. It will maintain adequate staff that is properly trained to conduct Asset Reviews
as required by this Agreement. The Asset Representations Reviewer, at its discretion, may utilize the services of third parties, Affiliates, and agents (“Agents”) to provide any Asset Review under this Agreement; provided,
however, that the Asset Representations Reviewer has entered into confidentiality agreements with such Agents (or such Agents are otherwise bound by confidentiality obligations) the provisions of which are no less protective than those set forth
in this Agreement. Any such Agent must be approved by Servicer prior to engaging in any Asset Review under this Agreement. The Asset Representations Reviewer shall be responsible to Servicer for the Asset Reviews provided by its Agents to the same
extent as if provided by the Asset Representations Reviewer under this Agreement. Servicer agrees to look solely to the Asset Representations Reviewer and not to any Agent for satisfaction of any claims the Servicer may have arising out of this
Agreement or due to the performance or non-performance of services. 

(d)    Changes to Personnel. It will promptly notify Servicer in the event that it undergoes
significant management or staffing changes which would negatively impact its ability to fulfill its obligations under this Agreement. 

(e)    Maintenance of Asset Review Materials. It will maintain copies of any Asset Review
Materials, Asset Review Reports and other documents relating to an Asset Review, including internal correspondence and work papers, for a period of two (2) years after the termination of this Agreement. 

Section 4.3.    Fees and Expenses. 

(a)    Annual Fee. The Issuer will, or will cause the Servicer to, pay the Asset Representations
Reviewer, as compensation for agreeing to act as the Asset Representations Reviewer under this Agreement, an annual fee in the amount of $5,000. The annual fee will be paid on the Closing Date and on each anniversary of the Closing Date until this
Agreement is terminated, payable pursuant to the priority of payments in Section 5.7 of the Sale and Servicing Agreement or Section 5.6(a) of the Indenture, as applicable. 

(b)    Asset Review Fee. Following the completion of an Asset Review and the delivery to the
Trustee of the Asset Review Report, or the termination of an Asset Review according to Section 3.4(e), and the delivery to the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee of up to $250 for each
Asset Review Receivable for which the Asset Review was started (the “Asset Review Fee”). However, no Asset Review Fee will be charged for any Asset Review Receivable which was included in a prior Asset Review or for which no Tests
were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.4(e). If the detailed invoice is submitted on or before the first day of a month, the Asset Review Fee will be
paid by the Issuer pursuant to 

  
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the priority of payments in Section 5.7 of the Sale and Servicing Agreement or Section 5.6(a) of the Indenture, as applicable, starting on or before the Distribution Date in that month.
However, if an Asset Review is terminated according to Section 3.4(e), the Asset Representations Reviewer must submit its invoice for the Asset Review Fee for the terminated Asset Review no later than five (5) Business Days before the
final Distribution Date in order to be reimbursed no later than the final Distribution Date. To the extent that such amounts were not previously paid by the Servicer or any other party, upon receipt of a detailed invoice, the Asset Representations
Reviewer shall be entitled to payment by the Servicer of incurred but otherwise unpaid Asset Review Fees. 

(c)    Reimbursement of Travel Expenses. If the Servicer provides access to the Asset Review
Materials at one of its properties, the Issuer will, or will cause the Servicer to, reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Asset Review upon receipt of a detailed invoice,
payable pursuant to the priority of payments in Section 5.7 of the Sale and Servicing Agreement or Section 5.6(a) of the Indenture, as applicable. To the extent that such amounts were not previously paid by the Servicer or any other party,
upon receipt of a detailed invoice, the Asset Representations Reviewer shall be entitled to payment by the Servicer of incurred but otherwise unpaid travel expenses. 

(d)    Dispute Resolution Expenses. If the Asset Representations Reviewer participates in a dispute
resolution proceeding under Section 3.7 and its reasonable out-of-pocket expenses it incurs in participating in the proceeding are not paid by a party to the
dispute resolution within ninety (90) days of the end of the proceeding, the Issuer will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed invoice, payable pursuant to the priority of payments in
Section 5.7 of the Sale and Servicing Agreement or Section 5.6(a) of the Indenture, as applicable. To the extent that such amounts were not previously paid by the Servicer or any other party, upon receipt of a detailed invoice, the Asset
Representations Reviewer shall be entitled to payment by the Servicer of incurred but otherwise unpaid expenses. 

Section 4.4.    Limitation on Liability. The Asset Representations Reviewer will not be liable
to any Person for (i) any action taken, or not taken, in good faith under this Agreement, (ii) for errors in judgment or (iii) for any errors contained in the Asset Review Materials. However, the Asset Representations Reviewer will be
liable for its willful misconduct, bad faith or negligence in performing its obligations under this Agreement. In no event shall either party be liable to the other party for any incidental, special, indirect, punitive, exemplary or consequential
damages. 
 Section 4.5.    Indemnification  

(a)    Indemnification by Asset Representations Reviewer. The Asset Representations Reviewer will
indemnify each of the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust Collateral Agent and the Trustee (both in its individual capacity and in its capacity as Trustee on behalf of the Noteholders) and their respective directors,
officers, employees and agents for all costs, expenses, losses, damages and liabilities resulting from (i) the willful misconduct, fraud, bad faith or negligence of the Asset Representations Reviewer in performing its obligations under this
Agreement; (ii) the Asset Representations Reviewer’s breach of any of its representations or warranties or other obligations under this Agreement; (iii) its breach of confidentiality obligations

  
 9 

 
or (iv) any third party intellectual property claim. The Asset Representations Reviewer’s obligations under this Section 4.5 will survive the termination of this Agreement, the
termination of the Issuer and the resignation or removal of the Asset Representations Reviewer. 

(b)    Indemnification of Asset Representations Reviewer. The Issuer will, or will cause the
Servicer to, indemnify the Asset Representations Reviewer and its officers, directors, employees and agents, for all costs, expenses, losses, damages and liabilities resulting from the performance of its obligations under this Agreement (including
the costs and expenses of defending itself against any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or
negligence or (ii) the Asset Representations Reviewer’s breach of any of its representations or warranties in this Agreement. The Issuer acknowledges and agrees that its obligation to indemnify the Asset Representations Reviewer in
accordance with this Agreement shall survive termination of this Agreement. To the extent that such indemnities owed to the Asset Representations Reviewer were not previously paid by the Servicer or any other party, upon receipt of a detailed
invoice, the Asset Representations Reviewer shall be entitled to payment by the Servicer of such incurred but otherwise unpaid indemnities. 

Section 4.6.    Right to Audit. During the term of this Agreement and not more than once per
year (unless circumstances warrant additional audits as described below), Servicer may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this
Agreement to ensure compliance with this Agreement upon at least ten (10) Business Days’ notice. Notwithstanding the foregoing, the parties agree that Servicer may conduct an audit at any time, in the event of (i) audits required by
Servicer’s governmental or regulatory authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer reasonably believes that an audit is necessary
to address a material operational problem or issue that poses a threat to Servicer’s business. 

Section 4.7.    Delegation of Obligations. Subject to the terms of Section 4.2(c) of this
Agreement, the Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of the Issuer and the Servicer. 

Section 4.8.    Confidential Information. 

(a)    Definitions. 

(i)    In performing its obligations pursuant to this Agreement, the parties may have
access to and receive disclosure of certain confidential information about or belonging to the other, including but not limited to marketing philosophy, strategies (including tax mitigation strategies), techniques, and objectives; advertising and
promotional copy; competitive advantages and disadvantages; financial results; technological developments; loan evaluation programs; customer lists; account information, profiles, demographics and Non-Public
Personal Information (defined below); credit scoring criteria, formulas and programs; research and development efforts; any investor, financial, commercial, technical or scientific information (including, but not limited to, patents, copyrights,
trademarks, service marks, trade names and dress, and applications relating to same, trade secrets, 

  
 10 

 
software, code, inventions, know-how and similar information) and any and all other business information (hereinafter “Confidential
Information”). 

(ii)    “Non-Public Personal Information”
shall include all Personally Identifiable Financial Information (defined below) in any list, description or other grouping of consumers/customers, and publicly available information pertaining to them, that is derived using any Personally
Identifiable Financial Information that is not publicly available, and shall further include all Non-Public Personal Information as defined by federal regulations implementing the Gramm-Leach-Bliley Act, as
amended from time to time, and any State statutes or regulations governing this Agreement. 

(iii)    “Personally Identifiable Financial Information” means any information a
consumer provides to a party in order to obtain a financial product or service, any information a party otherwise obtains about a consumer in connection with providing a financial product or service to that consumer, and any information about a
consumer resulting from any transaction involving a financial product or service between a party and a consumer. Personally Identifiable Financial Information may include, without limitation, a consumer’s first and last name, physical address,
zip code, e-mail address, phone number, Social Security number, birth date, account number and any information that identifies, or when tied to the above information may identify, a consumer. 

(b)    Use of Confidential Information. The parties agree that during the term of this Agreement
and thereafter, Confidential Information is to be used solely in connection with satisfying their obligations pursuant to this Agreement, and that a party shall neither disclose Confidential Information to any third party, nor use Confidential
Information for its own benefit, except as may be necessary to perform its obligations pursuant to this Agreement or as expressly authorized in writing by the other party, as the case may be. 

Neither party shall disclose any Confidential Information to any other persons or entities, except on a “need to
know” basis and then only: (i) to their own employees and Agents (as defined below); (ii) to their own accountants and legal representatives, provided that any such representatives shall be subject to subsection (d) below; (iii) to
their own Affiliates, provided that such Affiliates shall be restricted in use and redisclosure of the Confidential Information to the same extent as the parties hereto. “Agents”, for purposes of this Section, mean each of the
parties’ advisors, directors, officers, employees, contractors, consultants affiliated entities (i.e., an entity controlling, controlled by, or under common control with a party), or other agents. If and to the extent any Agent of the recipient
receives Confidential Information, such recipient party shall be responsible for such Agent’s full compliance with the terms and conditions of this Agreement and shall be liable for any such Agent’s
non-compliance. 
 (c)    Compelled Disclosure. If a
subpoena or other legal process seeking Confidential Information is served upon either party, such party will, to the extent not prohibited by law, rule or order, notify the other immediately and, to the maximum extent practicable prior to
disclosure of any Confidential Information, will, at the other’s request and reasonable expense, cooperate in any lawful effort to contest the legal validity of such subpoena or other legal process. The restrictions set forth herein shall
apply during the term and after the termination of this Agreement. All Confidential Information furnished to the Asset Representations Reviewer or 

  
 11 

 
Servicer, as the case may be, or to which the Asset Representations Reviewer or Servicer gains access in connection with this Agreement, is the respective exclusive property of the disclosing
party. 
 (d)    Use by Agents, Employees, Subcontractors. The parties shall take reasonable
measures to prevent its Agents, employees and subcontractors from using or disclosing any Confidential Information, except as may be necessary for each party to perform its obligations pursuant to this Agreement. Such measures shall include,
but not be limited to, (i) education of such Agents, employees and subcontractors as to the confidential nature of the Confidential Information; and (ii) securing a written acknowledgment and agreement from such Agents, employees and
subcontractors that the Confidential Information shall be handled only in accordance with provisions no less restrictive than those contained in this Agreement. This provision shall survive termination of this Agreement. 

(e)    Remedies. The parties agree and acknowledge that in order to prevent the unauthorized use or
disclosure of Confidential Information, it may be necessary for a party to seek injunctive or other equitable relief, and that money damages may not constitute adequate relief, standing alone, in the event of actual or threatened disclosure of
Confidential Information. In addition, the harmed party shall be entitled to all other remedies available at law or equity including injunctive relief. 

(f)    Exceptions. Confidential Information shall not include, and this Agreement imposes no
obligations with respect to, information that: 
 (i)    is or becomes part of the public
domain other than by disclosure by a party or its Agents in violation of this Agreement; 

(ii)    was disclosed to a party prior to the effective date without a duty of
confidentiality; 
 (iii)    is independently developed by a party outside of this
Agreement and without reference to or reliance on any Confidential Information of the other party; or 

(iv)    was obtained from a third party not known after reasonable inquiry to be under a
duty of confidentiality. 
 The foregoing exceptions shall not apply to any
Non-Public Personal Information or Personally Identifiable Financial Information, which shall remain confidential in all circumstances, except as required or permitted to be disclosed by applicable law,
statute, or regulation. 
 (g)    Return of Confidential Information. Subject to
Section 4.2(e) of this Agreement, upon the request of a party, the other party shall return all Confidential Information to the other; provided, however, (i) each party shall be permitted to retain copies of the other party’s
Confidential Information solely for archival, audit, disaster recovery, legal and/or regulatory purposes, and (ii) neither party will be required to search archived electronic back-up files of its
computer systems for the other party’s Confidential Information in order to purge the other party’s Confidential Information from its archived files; provided further, that any Confidential

  
 12 

 
Information so retained will (x) remain subject to the obligations and restrictions contained in this Agreement, (y) will be maintained in accordance with the retaining party’s
document retention policies and procedures, and (z) the retaining party will not use the retained Confidential Information for any other purpose. 

Section 4.9.    Security and Safeguarding Information  

(a)    Confidential Information that contains Non-Public Personal
Information about customers is subject to the protections created by the Gramm-Leach-Bliley Act of 1999 (the “Act”) and under the standards for safeguarding Confidential Information, 16 CFR Part 314 (2002) adopted by Federal Trade
Commission (the “FTC”) (the “Safeguards Rule”). Additionally, State specific laws may regulate how certain confidential or personal information is safeguarded. The parties agree with respect to the Non-Public Personal Information to take all appropriate measures in accordance with the Act, and any State specific laws, as are necessary to protect the security of the
Non-Public Personal Information and to specifically assure there is no disclosure of the Non-Public Personal Information other than as authorized under the Act, and any
State specific laws, and this Agreement. 
 With respect to Confidential Information, including Non-Public Personal Information and Personally Identifiable Financial Information as applicable, each of the parties agrees that: 

(i)    It will use commercially reasonable efforts to safeguard and protect the
confidentiality of any Confidential Information and agrees, warrants, and represents that it has or will implement and maintain appropriate safeguards designed to safeguard and protect the confidentiality of any Confidential Information. 

(ii)    It will not disclose or use Confidential Information provided except for the
purposes as set in the Agreement, including as permitted under the Act and its implementing regulations, or other applicable law. 

(iii)    It acknowledges that the providing party is required by the Safeguards Rule to
take reasonable steps to assure itself that its service providers maintain sufficient procedures to detect and respond to security breaches, and maintain reasonable procedures to discover and respond to widely-known security failures by its service
providers. It agrees to furnish to the providing party that appropriate documentation to provide such assurance. 

(iv)    It understands that the FTC may, from time to time, issue amendments to and
interpretations of its regulations implementing the provisions of the Act, and that pursuant to its regulations, either or both of the parties hereto may be required to modify their policies and procedures regarding the collection, use, protection,
and/or dissemination of Non-Public Personal Information. Additionally, States may issue amendments to and interpretations of existing regulations, or may issue new regulations, which both of the parties
hereto may be required to modify their policies and procedures. To the extent such regulations are so amended or interpreted, each party hereto agrees to use reasonable efforts to adjust the Agreement in order to comply with any such new
requirements. 
 (v)    By the signing of this Agreement, each party certifies that it
has a written, comprehensive information security program that is in compliance with federal and State 

  
 13 

 
laws that are applicable to its respective organization and the types of Confidential Information it receives. 

(b)    The Asset Representations Reviewer represents and warrants that it has, and will continue to have,
adequate administrative, technical, and physical safeguards designed to (i) protect the security, confidentiality and integrity of Non-Public Personal Information, (ii) ensure against anticipated
threats or hazards to the security or integrity of Non-Public Personal Information, (iii) protect against unauthorized access to or use of Non-Public Personal
Information and (iv) otherwise comply with its obligations under this Agreement. These safeguards include a written data security plan, employee training, information access controls, restricted disclosures, systems protections (e.g., intrusion
protection, data storage protection and data transmission protection) and physical security measures. 

(c)    The Asset Representations Reviewer will promptly notify the Servicer in the event it becomes aware
of any unauthorized or suspected acquisition of data or Confidential Information that compromises the security, confidentiality or integrity of Servicer’s Confidential Information, whether internal or external. The disclosure will include
the date and time of the breach along with specific information compromised along with the monitoring logs, to the extent then known. The Asset Representations Reviewer will use commercially reasonable efforts to take remedial action to resolve such
breach. 
 (d)    The Asset Representations Reviewer will cooperate with and provide information to the
Issuer and the Servicer regarding the Asset Representations Reviewer’s compliance with this Section 4.9. 
 ARTICLE V 

RESIGNATION AND REMOVAL 

Section 5.1.    Resignation and Removal of Asset Representations Reviewer. 

(a)    Resignation of Asset Representations Reviewer. The Asset Representations Reviewer may not
resign as Asset Representations Reviewer, except: 
 (i)    upon determination that
(A) the performance of its obligations under this Agreement is no longer permitted under applicable law and (B) there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted
under applicable law; or 
 (ii)    with the consent of the Issuer. 

The Asset Representations Reviewer will give the Issuer and the Servicer sixty (60) days’ prior notice of its
resignation. Any determination permitting the resignation of the Asset Representations Reviewer under subsection (i) above must be evidenced by an Opinion of Counsel delivered to the Issuer, the Servicer, the Owner Trustee, the Trust Collateral
Agent and the Trustee. No resignation of the Asset Representations Reviewer will become effective until a successor Asset Representations Reviewer is in place. 

  
 14 

 (b)    Removal of Asset Representations Reviewer.
The Issuer may remove the Asset Representations Reviewer and terminate all of its rights and obligations (other than as provided in Section 4.5) under this Agreement (i) if the Asset Representations Reviewer ceases to be an Eligible Asset
Representations Reviewer, (ii) on a breach of any of the representations, warranties, covenants or obligations of the Asset Representations Reviewer contained in this Agreement and (iii) on the occurrence of an Insolvency Event with
respect to the Asset Representations Reviewer, by notifying the Asset Representations Reviewer, the Trustee and the Servicer of the removal. 

(c)    Effectiveness of Resignation or Removal. No resignation or removal of the Asset
Representations Reviewer will become effective until a successor Asset Representations Reviewer is in place. The predecessor Asset Representations Reviewer will continue to perform its obligations under this Agreement until a successor Asset
Representations Reviewer is in place. 
 Section 5.2.    Engagement of Successor. 

(a)    Successor Asset Representations Reviewer. Following the resignation or removal of the Asset
Representations Reviewer under Section 5.1, the Issuer will engage as the successor Asset Representations Reviewer a Person that is an Eligible Asset Representations Reviewer. The successor Asset Representations Reviewer will accept its
engagement or appointment by executing and delivering to the Issuer and the Servicer an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement or entering into a new Asset Representations Review Agreement with
the Issuer that is on substantially the same terms as this Agreement. 
 (b)    Transition and
Expenses. The predecessor Asset Representations Reviewer will cooperate with the successor Asset Representations Reviewer engaged by the Issuer in effecting the transition of the Asset Representations Reviewer’s obligations and rights under
this Agreement. The predecessor Asset Representations Reviewer will pay the reasonable expenses of the successor Asset Representations Reviewer in transitioning the Asset Representations Reviewer’s obligations under this Agreement and preparing
the successor Asset Representations Reviewer to take on the obligations on receipt of an invoice with reasonable detail of the expenses from the successor Asset Representations Reviewer. 

Section 5.3.    Merger, Consolidation or Succession. Any Person (a) into which the Asset
Representations Reviewer is merged or consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party, (c) which acquires substantially all of the assets of the Asset Representations
Reviewer, or (d) succeeding to the business of the Asset Representations Reviewer, which Person is an Eligible Asset Representations Reviewer, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will
execute and deliver to the Issuer and the Servicer an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law). No such transaction will be deemed to release
the Asset Representations Reviewer from its obligations under this Agreement. 

  
 15 

 ARTICLE VI 

OTHER AGREEMENTS 

Section 6.1.    Independence of Asset Representations Reviewer. The Asset
Representations Reviewer will be an independent contractor and will not be subject to the supervision of the Issuer, the Trust Collateral Agent, the Trustee or the Owner Trustee for the manner in which it accomplishes the performance of its
obligations under this Agreement. Unless expressly authorized by the Issuer, and, with respect to the Owner Trustee, the Owner Trustee, the Asset Representations Reviewer will have no authority to act for or represent the Issuer, the Trust
Collateral Agent, the Trustee or the Owner Trustee and will not be considered an Agent of the Issuer, the Trust Collateral Agent, the Trustee or the Owner Trustee. Nothing in this Agreement will make the Asset Representations Reviewer and any of the
Issuer, the Trust Collateral Agent, the Trustee or the Owner Trustee members of any partnership, joint venture or other separate entity or impose any liability as such on any of them. 

Section 6.2.    No Petition. Each of the Servicer and the Asset Representations Reviewer, by
entering into this Agreement, and the Owner Trustee, the Trust Collateral Agent and the Trustee, by accepting the benefits of this Agreement, agrees that, before the date that is one (1) year and one (1) day (or, if longer, any applicable
preference period) after payment in full of (a) all securities issued by the Seller or by a trust for which the Seller was a Seller or (b) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing
against, the Seller or the Issuer any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law. This Section 6.2 will survive the termination of this Agreement. 

Section 6.3.    Limitation of Liability of Owner Trustee . It is expressly understood
and agreed by the parties hereto that (i) this Agreement is executed and delivered by Wilmington Trust Company, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and
vested in it, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and
intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied
contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) Wilmington Trust Company has made no investigation as to the accuracy or
completeness of any representations or warranties made by the Issuer in this Agreement and (v) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable
for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents. 

Section 6.4.    Termination of Agreement. This Agreement will terminate, except for the
obligations under Section 4.5, on the earlier of (a) the payment in full of all Outstanding Notes and the satisfaction and discharge of the Indenture and (b) the termination of the Issuer. 

  
 16 

 ARTICLE VII 

MISCELLANEOUS PROVISIONS 

Section 7.1.    Amendments. 

(a)    The parties may amend this Agreement: 

(i)    without the consent of the Noteholders, to clarify an ambiguity or to correct or
supplement any term of this Agreement that may be defective or inconsistent with the other terms of this Agreement or to provide for, or facilitate the acceptance of this Agreement by, a successor Asset Representations Reviewer; 

(ii)    without the consent of the Noteholders, if the Servicer delivers an Officer’s
Certificate to the Issuer, the Owner Trustee, the Trust Collateral Agent and the Trustee stating that the amendment will not have a material adverse effect on the Notes; or 

(iii)    with the consent of the Noteholders of a majority of the Note Balance of each
Class of Notes materially and adversely affected by the amendment (with each affected Class voting separately, except that all Noteholders of Class A Notes will vote together as a single class). 

(b)    Notice of Amendments. The Servicer will give prior notice of any amendment to the Rating
Agencies. Promptly after the execution of an amendment, the Servicer will deliver a copy of the amendment to the Rating Agencies. 

Section 7.2.    Assignment; Benefit of Agreement; Third Party Beneficiaries. 

(a)    Assignment. Except as stated in Section 5.3, this Agreement may not be assigned by the
Asset Representations Reviewer without the consent of the Issuer and the Servicer. 
 (b)    Benefit
of the Agreement; Third-Party Beneficiaries. This Agreement is for the benefit of and will be binding on the parties to this Agreement and their permitted successors and assigns. The Owner Trustee, the Trust Collateral Agent and the Trustee
(both in its individual capacity and in its capacity as Trustee for the benefit of the Noteholders), will be third-party beneficiaries of this Agreement entitled to enforce this Agreement against the Asset Representations Reviewer and the Servicer.
No other Person will have any right or obligation under this Agreement. 

Section 7.3.    Notices. 

(a)    Delivery of Notices. All notices, requests, demands, consents, waivers or other
communications to or from the parties to this Agreement must be in writing and will be considered given: 

(i)    on delivery or, for a letter mailed by registered first-class mail, postage
prepaid, three (3) days after deposit in the mail; 

  
 17 

 (ii)    for a fax, when receipt is
confirmed by telephone, reply email or reply fax from the recipient; 
 (iii)    for an
email, when receipt is confirmed by telephone or reply email from the recipient; and 

(iv)    for an electronic posting to a password-protected website to which the recipient
has access, on delivery (without the requirement of confirmation of receipt) of an email to that recipient stating that the electronic posting has occurred. 

(b)    Notice Addresses. Any notice, request, demand, consent, waiver or other communication will
be delivered or addressed as stated in Section 12.3(a) of the Sale and Servicing Agreement or at another address as a party may designate by notice to the other parties. 

Section 7.4.    GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH,
AND THIS AGREEMENT AND ALL MATTERS ARISING OUT OF OR RELATING IN ANY WAY TO THIS AGREEMENT SHALL BE, GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

Section 7.5.    Submission to Jurisdiction. Each of the parties hereto hereby irrevocably and
unconditionally: 
 (a)    submits for itself and, as applicable, its property, in any legal action
relating to this Agreement, the Basic Documents or any other documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of
the State of New York, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

(b)    consents that any such action may be brought in such courts and waives any objection that it may
now or hereafter have to the venue of such action in any such court or that such action was brought in an inconvenient court and agrees not to plead or claim the same; and 

(c)    waives, to the fullest extent permitted by law, any and all right to trial by jury in any legal
proceeding arising out of or relating to this Agreement, the Basic Documents or the transactions contemplated hereby. 

Section 7.6.    No Waiver; Remedies. No party’s failure or delay in exercising any power,
right or remedy under this Agreement will operate as a waiver. No single or partial exercise of any power, right or remedy will preclude any other or further exercise of the power, right or remedy or the exercise of any other power, right or remedy.
The powers, rights and remedies under this Agreement are in addition to any powers, rights and remedies under law. 

Section 7.7.    Severability. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any 

  
 18 

 
such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 7.8.    Headings. The headings of the various Articles and Sections herein are for
convenience of reference only and shall not define or limit any of the terms or provisions hereof. 

Section 7.9.    Counterparts and Consent to Do Business Electronically. This Agreement may be
executed in multiple counterparts, each of which shall be deemed to be an original, but together they shall constitute one and the same instrument. Facsimile and .pdf signatures shall be deemed valid and binding to the same extent as the original
and the parties affirmatively consent to the use thereof, with no such consent having been withdrawn. Each party agrees that this Agreement and any documents to be delivered in connection with this Agreement may be executed by means of an electronic
signature that complies with the federal Electronic Signatures in Global and National Commerce Act, State enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, in each case to the extent
applicable. Any electronic signatures appearing on this Agreement and such other documents are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility. Each party hereto shall be entitled to conclusively
rely upon, and shall have no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity
thereof. 
 [Remainder of Page Intentionally Left Blank] 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered by their respective duly authorized officers as of the day and the year first above written. 
  

			
	 AMERICREDIT AUTOMOBILE RECEIVABLES

TRUST 2021-3

	
	 By: WILMINGTON TRUST COMPANY, not in its
individual capacity but solely as Owner Trustee on
behalf of the
Trust.

 
			
		
	 By:
	 	  

			
	 Name:
	 	
	 Title:
	 	
	
	 AMERICREDIT FINANCIAL SERVICES, INC.,
as
Servicer

 
			
		
	 By:
	 	  

			
	 Name:
	 	
	 Title:
	 	
	
	 CLAYTON FIXED INCOME SERVICES LLC,
as Asset Representations
Reviewer

 
			
		
	 By:
	 	  

			
	 Name:
	 	
	 Title:
	 	

  
 [Signature Page to Asset
Representations Review Agreement] 

 Schedule A 

Representations and Warranties and Procedures to be Performed 

Representation 

1.        Characteristics of Receivables. Each Receivable (A) was
originated (i) by AmeriCredit or (ii) by a Dealer and purchased by AmeriCredit from such Dealer under an existing Dealer Agreement or pursuant to a Dealer Assignment with AmeriCredit and was validly assigned by such Dealer to AmeriCredit
pursuant to a Dealer Assignment, (B) was originated by AmeriCredit or such Dealer for the retail sale of a Financed Vehicle in the ordinary course of AmeriCredit’s or the Dealer’s business, in each case (i) was originated in
accordance with AmeriCredit’s credit policies and (ii) was fully and properly executed by the parties thereto, and (iii) AmeriCredit and, to the best of the Seller’s and the Servicer’s knowledge, each Dealer had all
necessary licenses and permits to originate Receivables in the State where AmeriCredit or each such Dealer was located, (C) contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate
for realization against the collateral security, and (D) has not been amended or collections with respect to which waived, other than as evidenced in the Receivable File or the Servicer’s electronic records relating thereto. 

Documents 
 Receivable File 

AmeriCredit’s Policies 

Data Tape 
 Dealer Agreement

 Procedures to be Performed 
  

	 	A.	 Origination Entity of Each Receivable 

					
	                	 	i.	 	 Confirm that the Contract is a retail installment sale contract or promissory note relating to the sale
of a motor vehicle.

		 	ii.	 	 Review the Contract and verify it was originated by AmeriCredit or

		 	iii.	 	 Verify that the Receivable was originated by a Dealer and purchased by AmeriCredit

		 	iv.	 	 If the Contract was originated by a Dealer, verify the Receivable File contains a valid Dealer
Agreement between the Dealer and AmeriCredit

	 	B.	 Receivable originated for Retail Sale of a Financed Vehicle 

					
	                	 	i.	 	 Review the Contract and verify AmeriCredit’s credit policies were followed.

		 	ii.	 	 Observe the Contract and confirm it was executed by the buyer,
co-buyer (if applicable) and the Dealer

  
 Schedule A -1 

					
	                	 	iii.	 	 If the Contract was originated by AmeriCredit, review the Receivable File and confirm AmeriCredit had
all necessary licenses and permits as required by the State in which it was originated

		 	iv.	 	 If the Contract was originated by a Dealer, confirm the Dealer Agreement contains language confirming
the Dealer was required to have all necessary licenses and permits and there was no evidence of the contrary

	 	C.	 Contract contains customary and enforceable provisions 

					
	                	 	i.	 	 Review the Contract and verify it contains clauses to render the rights and remedies of the holder
adequate for realization against the collateral.

	 	D.	 Original Receivable Contract intact 

					
	                	 	i.	 	 Review the Receivable File and Servicer’s system for any indication of amendments to the
Receivable.

		 	ii.	 	 If an amendment is reported, confirm the terms in the Contract match the data tape

	 	E.	 If steps (A) through (D) are confirmed, then Test Pass 

  
 Schedule A -2 

 Representation 

2.        Compliance with Law. All requirements of applicable federal, State
and local laws, and regulations thereunder (including, without limitation, usury laws, the federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair
Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Magnuson-Moss Warranty Act, the Federal Reserve Board’s Regulations “B” and “Z” (including amendments to the Federal
Reserve’s Official Staff Commentary to Regulation Z, effective October 1, 1998, concerning negative equity loans), the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Servicemembers Civil Relief Act, each applicable State
Motor Vehicle Retail Installment Sales Act, the Gramm-Leach-Bliley Act and State adaptations of the National Consumer Act and of the Uniform Consumer Credit Code and other consumer credit laws and equal credit opportunity and disclosure laws) in
respect of the Receivables and the Financed Vehicles, have been complied with in all material respects. 
 Documents 

Receivable File 
 Sale Contract

 Procedures to be Performed 
  

	 	A.	 Confirm the following sections are present on the contract and filled out: 

					
	                	 	i.	 	 Name and address of Creditor

		 	ii.	 	 APR

		 	iii.	 	 Finance Charge

		 	iv.	 	 Amount Financed

		 	v.	 	 Total of Payments

		 	vi.	 	 Total Sale Price

	 	B.	 Confirm a Payment Schedule is present and complete 

	 	C.	 Confirm there is an itemization of the Amount Financed 

	 	D.	 Confirm the following disclosures are included in the contract: 

					
	                	 	i.	 	 Prepayment disclosure

		 	ii.	 	 Late Payment Policy including the late charge amount or calculation

		 	iii.	 	 Security Interest disclosure

		 	iv.	 	 Contract Reference

		 	v.	 	 Insurance Requirements

	 	E.	 If steps (A) through (D) are confirmed, then Test Pass 

  
 Schedule A -3 

 Representation 

3.        Binding Obligation. Each Receivable represents the genuine, legal,
valid and binding payment obligation of the Obligor thereon, enforceable by the holder thereof in accordance with its terms, except (A) as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the
enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law and (B) as such Receivable may be
modified by the application after the Cutoff Date of the Servicemembers Civil Relief Act, as amended; and, to the best of the Seller’s and the Servicer’s knowledge, all parties to each Receivable had full legal capacity to execute and
deliver such Receivable and all other documents related thereto and to grant the security interest purported to be granted thereby. 
 Documents

 Retail Sale Contract 

Procedures to be Performed 
  

	 	A.	 Observe the Contract and confirm it was signed by the Obligor 

	 	B.	 If step (A) is confirmed, then Test Pass 

  
 Schedule A -4 

 Representation 

4.        Schedule of Receivables. The information set forth in the Schedule of
Receivables has been produced from the Electronic Ledger and was true and correct in all material respects as of the close of business on the Cutoff Date. 

Documents 
 Data Tape 

Procedures to be Performed 
  

	 	A.	 Confirm the Account Number in the data tape matches the Account Number listed in the Schedule of Receivables

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -5 

 Representation 

5.        Marking Records. Each of AmeriCredit and the Seller agree that the
Receivables have been sold to the Trust pursuant to the Sale and Servicing Agreement and Granted to the Trust Collateral Agent pursuant to the Indenture. Further, AmeriCredit has indicated in its computer files that the Receivables are owned by the
Trust. 
 Documents 

Transaction Documents 
 System
Reports 
 Procedures to be Performed 
  

	 	A.	 Verified through the transaction documents and Schedule of Receivables 

	 	B.	 Verify AmeriCredit indicates within its computer files that the Receivable is owned by the Trust.

	 	C.	 If steps (A) and (B) are confirmed, then Test Pass. 

  
 Schedule A -6 

 Representation 

6.        Chattel Paper. The Receivables constitute “tangible chattel
paper” or “electronic chattel paper” within the meaning of the UCC. 
 Documents 

Receivable File 
 Imaging System
Access 
 Procedures to be Performed 
  

	 	A.	 Receivables constitute “tangible chattel paper” or “electronic chattel paper”

					
	                	 	i.	 	 Confirm there is a signature under the appropriate buyer,
co-buyer and seller signature lines on the contract

		 	ii.	 	 Confirm the contract reports an amount financed greater than zero

		 	iii.	 	 Confirm there is documentation of a lien against the title of a vehicle

	 	B.	 If (i), (ii) and (iii) are confirmed, then Test Pass. 

  
 Schedule A -7 

 Representation 

7.        One Original. There is only one (1) original executed copy (or
with respect to “electronic chattel paper”, one (1) authoritative copy) of each Contract. With respect to Contracts that are “electronic chattel paper”, each authoritative copy (a) is unique, identifiable and
unalterable (other than with the participation of the Trust Collateral Agent in the case of an addition or amendment of an identified assignee and other than a revision that is readily identifiable as an authorized or unauthorized revision), (b) has
been marked with a legend to the following effect: “Authoritative Copy” and (c) has been communicated to and is maintained by or on behalf of the Custodian. 

Documents 
 Receivable File 

E-Vault 

Procedures to be Performed 
  

	 	A.	 There is one (1) original executed copy of the Contract or 

			
	i.	 	 Ensure that all parties have signed the contract.

	 	B.	 There is only one (1) authoritative copy of the Receivable with respect to “electronic chattel
paper” 

			
	i.	 	 Review the authoritative copy of the contract for the Receivable. Verify it is unique, identifiable,
and unalterable.

	ii.	 	 Ensure the authoritative copy has been executed by all parties.

	iii.	 	 Ensure in the contract has been marked as an Authoritative Copy.

	 	C.	 Ensure the copy has been executed by all parties to AmeriCredit. 

	 	D.	 If steps (A) through (C) are confirmed, then Test Pass. 

  
 Schedule A -8 

 Representation 

8.        Not an Authoritative Copy. With respect to Contracts that are
“electronic chattel paper”, the Servicer has marked all copies of each such Contract other than an authoritative copy with a legend to the following effect: “This is not an authoritative copy.” 

Documents 
 E-Vault 
 Procedures to be Performed 

 

	 	A.	 Confirm if there is a single authoritative copy 

			
	i.	 	 Identify any and all contracts other than the single authoritative copy.

	ii.	 	 Confirm all non-authoritative electronic chattel paper copies
are appropriately marked

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -9 

 Representation 

9.      Revisions. With respect to Contracts that are “electronic chattel
paper”, the related Receivables have been established in a manner such that (a) all copies or revisions that add or change an identified assignee of the authoritative copy of each such Contract must be made with the participation of the
Trust Collateral Agent and (b) all revisions of the authoritative copy of each such Contract are readily identifiable as an authorized or unauthorized revision. 

Documents 
 E-Vault 
 Procedures to be Performed 

 

	 	A.	 Review electronic chattel paper, confirm that related Receivables have been established in the following
manner: 

			
	i.	 	 All copies of revisions that add or change an identified assignee of the authoritative copy of the
Contract contain the signature and/or approval of the Trust Collateral Agent

	ii.	 	 All revisions of the authoritative copy are identifiable as authorized or unauthorized

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -10 

 Representation 

10.      Pledge or Assignment. With respect to Contracts that are “electronic
chattel paper”, the authoritative copy of each Contract communicated to the Custodian has no marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Trust Collateral Agent. 

Documents 
 E-Vault 
 Procedures to be Performed 

 

	 	A.	 Review the authoritative copy of the Contract. 

			
	i.	 	 Confirm there is no indication that the Receivable has been pledged, assigned or conveyed to any other
Party other than the Trust Collateral Agent

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -11 

 Representation 

11.        Receivable Files Complete. There exists a Receivable File pertaining
to each Receivable. Related documentation concerning the Receivable, including any documentation regarding modifications of the Contract, will be maintained electronically by the Servicer in accordance with customary policies and procedures. With
respect to any Receivables that are “tangible chattel paper”, the complete Receivable File for each Receivable currently is in the possession of the Custodian. 

Documents 
 Receivable File 

Modification Agreements (if applicable) 

Procedures to be Performed 
  

	 	A.	 Confirm the Receivable File is Completed 

			
	i.	 	 Review Receivable and confirm that there is a corresponding Receivable File.

	ii.	 	 Verify all related documents concerning the Receivable are maintained electronically by the
Servicer.

	iii.	 	 If any Receivables are “tangible chattel paper,” confirm the Custodian has the complete
Receivable File for each Receivable

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -12 

 Representation 

12.     Receivables in Force. No Receivable has been satisfied, or, to the best of the
Seller’s and the Servicer’s knowledge, subordinated or rescinded, and the Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in whole or in part. No terms of any Receivable have
been waived, altered or modified in any respect since its origination, except by instruments or documents identified in the Receivable File or the Servicer’s electronic records. 

Documents 
 Receivable File 

Assignment 
 Data Tape 

Procedures to be Performed 
  

	 	A.	 Confirm the Receivable has not been satisfied, subordinated or rescinded 

			
	i.	 	 Review Receivable file and confirm there is no indication the Receivable was subordinated or
rescinded

	ii.	 	 Confirm there is no indication the Receivable was satisfied prior to the Cutoff Date

	 	B.	 Confirm there is no evidence the Financed Vehicle has been released from the lien in whole or in part

	 	C.	 Confirm there is no indication the terms of the Receivable have been waived, altered or modified since
origination, except by instruments or documents identified in the Receivable File or the Servicer’s electronic records. 

	 	D.	 If steps (A), (B) and (C) are confirmed, then Test Pass. 

  
 Schedule A -13 

 Representation 

13.        Good Title. Immediately prior to the conveyance of the Receivables
to the Trust pursuant to this Agreement, the Seller was the sole owner thereof and had good and indefeasible title thereto, free of any Lien and, upon execution and delivery of this Agreement by the Seller, the Trust shall have good and indefeasible
title to and will be the sole owner of such Receivables, free of any Lien. The Seller has not taken any action to convey any right to any Person that would result in such Person having a right to payments received under the related Insurance
Policies or the related Dealer Agreements or Dealer Assignments or to payments due under such Receivables. No Dealer has a participation in, or other right to receive, proceeds of any Receivable. 

Documents 
 Receivable File 

Dealer Agreement 
 Procedures to be
Performed 
  

	 	A.	 Review the Receivable 

			
	i.	 	 Confirm the Receivable had no lien or claim filed for additional work, labor, or materials. Also,
confirm there is no tax lien for this Receivable.

	ii.	 	 Confirm that the title documents list AFSI or DBA GM Financial as the sole lien holder and that no
other lien holder is listed and has not been sold, assigned, or transferred to any other entity.

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -14 

 Representation 

14.      Security Interest in Financed Vehicle. Each Receivable created or shall create a
valid, binding and enforceable first priority security interest in favor of AmeriCredit in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or AmeriCredit has commenced procedures that will result in such Lien Certificate
which will show, AmeriCredit named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in
such Financed Vehicle. Immediately after the sale, transfer and assignment by the Seller to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed Vehicle, which security interest
is prior to all other Liens upon and security interests in such Financed Vehicle which now exist or may hereafter arise or be created (except, as to priority, for any lien for taxes, labor or materials affecting a Financed Vehicle). To the best of
the Seller’s and the Servicer’s knowledge, as of the Cutoff Date, there were no Liens or claims for taxes, work, labor or materials affecting a Financed Vehicle which are or may be Liens prior or equal to the Liens of the related
Receivable. 
 Documents 

Receivable File 
 Procedures to be
Performed 
  

	 	A.	 Confirm first priority for AmeriCredit 

			
	i.	 	 Verify that the Receivable has an existing first priority security interest in favor of AmeriCredit or properly
registered DBA

	ii.	 	 Verify the lien certificate shows or that AmeriCredit has commenced procedures (which may include an application of
title, a dealer guaranty or other standard documentation or practice in effect at the time of origination) that will result in such Lien Certificate which will show AmeriCredit or a registered DBA as the original secured party under the
Receivable

	 	B.	 Confirm first priority security interest directly after sale, transfer or assignment. 

			
	i.	 	 Verify the Receivable has been secured by a security interest in the Financed Vehicle in favor of the Trust Collateral
Agent as the secured party.

	ii.	 	 Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which
already exist or could exist later.

	iii.	 	 As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be
prior or equal to the Liens of the Receivable.

	 	C.	 If steps (A) and (B) are confirmed, then Test Pass. 

  
 Schedule A -15 

 Representation 

15.        Receivable Not Assumable. No Receivable is assumable by another
Person in a manner which would release the Obligor thereof from such Obligor’s obligations to the owner thereof with respect to such Receivable. 

Documents 
 Receivable File 

Procedures to be Performed 
  

	 	A.	 Confirm the Receivable is NOT assumable by any Person in a manner that would release the Obligor from their
financial obligation to GM Financial. 

			
	i.	 	 Review the Contract for language indicating the Receivable is not assumable.

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -16 

 Representation 

16.      No Defenses. No Receivable is subject to any right of rescission, setoff,
counterclaim or defense, including the defense of usury, and the operation of any of the terms of any Receivable, or the exercise of any right thereunder, will not render such Receivable unenforceable in whole or in part and no such right has been
asserted or threatened with respect to any Receivable. 
 Documents 

Receivable File 
 Dealer
Agreement 
 Procedures to be Performed 
  

	 	A.	 Confirm the Receivable files and documents do NOT have any indication that it is subject to rescission,
setoff, counterclaim, or defense that could cause the Receivable to become invalid. 

			
	i.	 	 Confirm there is no indication of litigation or attorney involvement in the Receivable file or
servicing system

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -17 

 Representation 

17.        No Default. There has been no default, breach, or, to the knowledge
of the Seller and Servicer, violation or event permitting acceleration under the terms of any Receivable (other than payment delinquencies of not more than thirty (30) days), and, to the best of the Seller’s and the Servicer’s
knowledge, no condition exists or event has occurred and is continuing that with notice, the lapse of time or both would constitute a default, breach, violation or event permitting acceleration under the terms of any Receivable, and there has been
no waiver of any of the foregoing. 
 Documents 

Receivable File 
 Data Tape 

Procedures to be Performed 
  

	 	A.	 Confirm that no default status existed or was pending on the Receivable as of the Cutoff Date.

			
	i.	 	 Verify the loan did not have a default, breach, violation or event permitting acceleration under the
terms of the Receivable.

	ii.	 	 Verify that no conditions existed that would permit acceleration of notice that was
provided.

	iii.	 	 If a condition did exist as specified in part ii, verify that the Receivable had a waiver preventing
acceleration from one of the aforementioned reasons.

	 	B.	 If step (A) is confirmed, then Test Pass 

  
 Schedule A -18 

 Representation 

18.      Insurance. At the time of an origination of a Receivable by AmeriCredit or a
Dealer, each Financed Vehicle is required to be covered by a comprehensive and collision insurance policy, and each Receivable permits the holder thereof to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails
to do so. 
 Documents 

Receivable File 
 Agreement to
Provide Insurance 
 Procedures to be Performed 
  

	 	A.	 Verify the Contract or the Agreement to Provide Insurance requires the Receivable to be covered by a
comprehensive and collision insurance policy at the time of origination or that language exists allowing the holder to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to do so. 

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -19 

 Representation 

19.        Certain Characteristics of the Receivables. 

(A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not less than three (3) months
and not more than eighty-four (84) months. 
 (B) Each Receivable had an original maturity, as of the
Cutoff Date, of not less than three (3) months and not more than eighty-four (84) months. 
 (C)
Each Receivable had a remaining Principal Balance, as of the Cutoff Date, of at least $250 and not more than $85,000. 

(D) Each Receivable had an Annual Percentage Rate, as of the Cutoff Date, of at least 1% and not more than
33%. 
 (E) No Receivable was more than thirty (30) days past due as of the Cutoff Date. 

(F) Each Receivable arose under a Contract that is governed by the laws of the United States or any State
thereof. 
 (G) Each Obligor had a billing address in the United States as of the date of origination of the
related Receivable. 
 (H) Each Receivable is denominated in, and each Contract provides for payment in,
United States dollars. 
 (I) Each Receivable arose under a Contract that is assignable without the consent
of, or notice to, the Obligor thereunder, and does not contain a confidentiality provision that purports to restrict the ability of the Servicer to exercise its rights under the Sale and Servicing Agreement, including, without limitation, its right
to review the Contract. Each Receivable prohibits the sale or transfer of the Financed Vehicle without the consent of the Servicer. 

(J) Each Receivable arose under a Contract with respect to which AmeriCredit has performed all obligations
required to be performed by it thereunder. 
 (K) No automobile related to a Receivable was held in
repossession inventory as of the Cutoff Date. 
 (L) The Servicer’s records do not indicate that any
Obligor was in bankruptcy as of the Cutoff Date. 
 (M) No Obligor is the United States of America or any
State or any agency, department, subdivision or instrumentality thereof. 

  
 Schedule A -20 

 Documents 

Data Tape 
 Receivable File 

Procedures to be Performed 
  

	 	A.	 Review the Data Tape and confirm that the remaining maturity date is more than or equal to three
(3) months but less than or equal to eighty-four (84) months from the Cutoff Date. 

	 	B.	 Review the Data Tape and confirm that the original maturity date is more than or equal to three
(3) months but less than or equal to eighty-four (84) months from the Cutoff Date. 

	 	C.	 Review the Data Tape and confirm that the remaining principal balance is more than or equal to $250 but less
than or equal to $85,000. 

	 	D.	 Review the Data Tape and confirm that the annual percentage rate is more than or equal to 1% but less than
or equal to 33%. 

	 	E.	 Review the Data Tape and confirm that the next payment due date was not more than 30 days from the Cutoff
Date. 

	 	F.	 Confirm the following: 

	 	i)	 The Contract was completed on a U.S. State or territory automobile contract form 

	 	ii)	 An “Applicable Law” disclosure is present confirming the contract is governed by federal and State
law 

	 	iii)	 The test for Compliance with Law representation was passed 

	 	G.	 Review the Contract and confirm that the Obligor’s billing address is located within the United States.

	 	H.	 Review the Contract and confirm that the payment schedule details are reported in U.S. dollars.

	 	I.	 Review the Contract and confirm that the contract is assignable without the consent or notice of the
Obligor. 

	 	J.	 Confirm a Truth in Lending statement appears on the Contract. 

	 	K.	 Review the Data Tape and to confirm that no automobile was held in repossession inventory as of the Cutoff
Date 

	 	L.	 Review the Data Tape and to confirm that no Obligor was involved in active bankruptcy as of the Cutoff Date

	 	M.	 Review the Contract and confirm that the Obligor is not reported as the United States of America or any
State, agency, department or subdivision of the government. 

	 	N.	 If steps (A) through (M) are confirmed, then Test Pass 

  
 Schedule A -21 

 Representation 

20.        Prepayment. Each Receivable allows for prepayment and partial
prepayments without penalty. 
 Documents 

Retail Sale Contract 
 Procedures to be
Performed 
  

	 	A.	 Confirm there is language in the Contract that the borrower is able to pay off the Receivable before the
maturity date without being penalized. 

	 	B.	 If step (A) is confirmed, then Test Pass. 

  
 Schedule A -22Exhibit
10.83 

 

 

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
Executive Employment Agreement (“Agreement”) is by and between TTEC Services Corporation (the “Company”),
a wholly owned subsidiary of TTEC Holdings, Inc., a Delaware corporation (“TTEC Parent”), and Dustin J. Semach
("Executive" or “Semach”), each a “Party” and together the “Parties.” This
Agreement is executed to be effective as of November 9, 2021 (“Effective Date”).

 

Whereas,
Mr. Semach joined TSC in December, 2020 and is currently employed as Global CFO overseeing the finance function for TTEC parent.
In this role he is a member of the TTEC Parent executive leadership team (known as the “Executive Committee” or the
 “EC”) and reports to TTEC Parent company’s Chief Financial & Administrative Officer, Ms. Regina
M. Paolillo (“Paolillo”).

 

Whereas,
Mr. Semach currently is an employee at-will and does not have an employment agreement with TTEC Parent or TSC; and whereas
in connection with his appointment to a new role, it is the desire of TTEC Parent and the Compensation Committee of the TTEC Board of
Directors (“Compensation Committee”) that Mr. Semach should have formal contractual employment arrangements with
the Company, and that such arrangements shall be approved by the Compensation Committee;

 

Now Therefore,
the purpose of this Agreement is to document formally the terms and conditions of Mr. Semach’s employment with the Company
and to have such terms and the Agreement approved by the Compensation Committee as of the Effective Date.

 

1.   Appointment.

 

a.        TTEC
Parent hereby appoints Mr. Semach as Chief Financial Officer for TTEC Parent (the “CFO”) and vests him with all
relevant executive responsibilities, authority and accountability consistent with a public company chief financial officer. In this role,
the Executive will report to the TTEC Chief Executive Officer (“CEO”). For purposes of relevant U.S. federal securities
laws, the CFO is a public company executive officer (known as “Section 16 Officer”), which subjects the Executive to
all of the various compliance requirements appropriate for Section 16 Officers as reflected in TTEC’s Directors and
Executive Officers U.S. Securities Law Handbook incorporated herein by reference.

 

b.        The
Executive shall devote his full-time and best efforts to the performance of all duties contemplated by his role and responsibilities,
and as assigned to from time to time by the TTEC CEO and his delegates. Unless otherwise specifically authorized in writing by TTEC Parent,
Executive shall not engage in any other business activity, or otherwise be employed by any other company other than TTEC’s subsidiaries.
Notwithstanding the foregoing, Mr. Semach is not precluded by the terms of this Agreement from serving on boards of directors of
non-competitor companies or not-for-profit organizations with TTEC Parent’s prior written approval.

 

c.        Mr. Semach
shall render services to TTEC Parent as necessary and desirable to protect and advance the best interests of TTEC Parent and all its
affiliated companies, acting at all times, in accordance with TTEC Ethics Code: How TTEC Does Business (or a successor code of
conduct document, collectively “TTEC Ethics Code”), included in this Agreement as Exhibit A, the Ethics
Code for Executive and Senior Financial Officers, included in this Agreement as Exhibit B, and in accordance with
all other material policies and procedures.

 

    1

     

    

 

d.        Mr. Semach’s
role may require extensive travel and Mr. Semach understands and agrees that such travel is a material part of his responsibilities,
subject to current health and safety recommendations of local government authorities and travel restrictions that may be in effect from
time to time. Mr. Semach shall travel in accordance with TTEC Parent travel policy.

 

e.        Notwithstanding
other provisions in this Agreement, but subject to the reasonable interpretation of provisions of Paragraph 5(j) (on “Constructive
Termination”), Mr. Semach understands and agrees that his role and responsibilities may change over time in the best interest
of the business, and TTEC Parent reserves the right to assign to Mr. Semach different and/or additional roles and assignments that
best serve the business.

 

f.         The
Effective Date of this Agreement notwithstanding, Executive’s tenure for purposes of all benefits and otherwise shall date back
to his original hire date with the Company on December 7, 2020.

 

g.        Relocation.
Executive understands and agrees that the role of TTEC’s CFO is based at the Company's HQ in Colorado. By accepting this employment
Executive agrees to relocate from his current state of residence to greater metropolitan area of Denver in the state of Colorado by a
mutually agreed date.

 

Once the Executive’s
move is scheduled, the Company will provide the Executive a $125,000 lump sum allowance for relocation purposes, net of any reimbursable
relocation expenses, including gross up for tax purposes, if any. All relocation expenses to be incurred and submitted in accordance
with the Company's relocation policies and procedures. In the event the Executive’s employment ends for any reason other than termination
by the Company without Cause or by the Executive for Good Reason within one-year following the relocation to Denver, Executive agrees
to reimburse the relocation expenses and relocation lump sum payment to Company on a pro-rata basis.

 

		2.	Compensation.

 

a.       Salary
and Periodic Salary Review. As of the Effective Date, the Executive’s base salary is $400,000 (“Base Salary”),
payable in equal installments in accordance with the Company’s standard payroll practice, less legally required deductions and
withholdings. The Base Salary may be periodically reviewed and adjusted, at CEO’s and Compensation Committee’s discretion,
to appropriately reflect the Executive’s role in the business, the contribution of the role, and the market pay for such role in
accordance with TTEC Parent standard compensation review practices. Notwithstanding the foregoing, nothing in this Agreement provides
assurances that the Executive’s salary will be increased from time to time.

 

b.        Variable
Incentive Compensation (annual cash bonus). Mr. Semach shall be eligible to participate in TTEC annual performance-based
cash incentive program, currently referred to as TTEC Variable Incentive Plan (“VIP”) for fiscal year 2021 and every year
of employment thereafter. The Executive’s annual VIP opportunity shall be $400,000 tied to the annual TTEC Parent company’s
performance targets and goals of the business, as set by TTEC CEO and the Board.

 

c.        Equity
Incentive Compensation (equity compensation). the Executive is also eligible to participate in TTEC’s equity incentive
program, designed to provide long term incentives for senior executives of TTEC Parent and align their interests with the interest of
TTEC company stockholders. Currently, TTEC offers its equity grants in the form of restricted stock units (the “RSUs) and performance
restricted stock units (“PRSUs”) vesting over a period of years. Until and unless modified by the Compensation Committee
of the Board, the Executive shall be eligible for an annual equity grant opportunity of $400,000 in fair market value of TTEC equity,
based on the market value of the equity at the time of the grant.

 

    2

     

    

 

The RSUs/PRSUs
are granted under the terms of grant-specific agreements that are approved by the Compensation Committee of the Board from time to time
(“Equity Agreements). These Equity Agreements provide vesting schedules, performance metrics, if any, and other material
terms of each grant. TTEC and the Compensation Committee of its Board reserve the right, at their discretion, to change the terms of
future Equity Agreements and the equity granted thereunder. The use of the RSUs/PRSUs, as part of the annual equity grant, is discretionary
and may be substituted, at the discretion of the Compensation Committee of the Board, by other equity instruments in accordance with
incentive compensation plans adopted by TTEC Parent from time to time. All grants as part of TTEC Parent equity incentive program are
subject to Executive Stock Ownership Guidelines included in this Agreement as Exhibit D.

 

The Company
and TTEC Parent reserve the right, on a going forward to restructure or modify the equity incentive compensation programs available to
TTEC executives, including the Executive, subject to the approval of the Compensation Committee.

 

d.       Incentive
Award Size Determination and Payment Timing. The Executive’s actual annual VIP and periodic equity awards are discretionary
and are not guaranteed. They are based on a combination of metrics reflecting targets and goals of the business as set-out and annually
approved by TTEC CEO and the Board. At present these metrics for the Executive include the (i) TTEC-wide results of operations;
(ii) targets specific to the Finance function of TTEC parent, including the annual budget and the management plan; (iii) the
Executive’s individual performance against targets set-out by the CEO; and (iv) the Executive’s compliance with the
guidelines for TTEC employees’ conduct outlined in TTEC’s Ethics Code. The metrics may change from time to time as determined
by the Compensation Committee of the Board.

 

The timing
for the payment of the VIP and equity awards, if any, is determined from time to time (usually annually) by the Compensation Committee
of the Board.

 

e.       Reimbursement
of Business Expenses. The Company agrees to reimburse the Executive for all reasonable out-of-pocket business expenses incurred
by him on behalf of the Company in accordance with TTEC expense reimbursement policies.

 

f.        Services
to Subsidiaries. Mr. Semach acknowledges that, as part of his employment responsibilities, he may be required to serve as
an officer and/or director (“D&O”) of TTEC subsidiaries, affiliates, and related entities. He hereby agrees to perform
such duties diligently and without additional compensation, and to follow TTEC Parent’s direction in the performance of such services.
For the duration of such D&O services, TTEC shall maintain appropriate D&O insurance policies for the Executive’s protection
in connection with the services. Furthermore, the Executive agrees to resign such D&O roles, if requested to do so by TTEC Parent.

 

g.       Tax
Liability and Withholdings. All compensation and other payments made under this Agreement will be subject to withholding of the
federal, state, and local taxes, Social Security, Medicare and other withholdings in such amounts as is reasonably determined by Company.
The withholdings taxes due with respect to any equity grants may, at Company’s discretion and in accordance with the relevant equity
plans, be deducted directly from the equity being granted or as it vests. The Company shall have the right to take all the actions as
it deems necessary to satisfy its and employee’s tax withholding obligations.

 

    3

     

    

 

3.   Benefits.

 

a.        Health
and Welfare Benefits. Mr. Semach shall be eligible to participate in TTEC health and wellness plans in a manner similar
to others at his level of responsibility, including participation for the Executive and his dependents in TTEC group medical, vision,
and dental insurance and other welfare plans, as they continue or change from time to time.

 

b.        Miscellaneous
Benefits. The Executive shall be eligible for benefits generally applicable to other senior management employees of the Company,
as they are in effect from time to time, including TTEC 401(k) Plan and its Deferred Compensation Plan.

 

c.        Paid
Leave. The Executive shall be eligible to participate in paid time off (“PTO”) and sick leave benefit programs pursuant
to the Company’s current time off/leave policy (or any other vacation/sick policy then in effect). The Executive will also be paid
for time off for holidays in accordance with the TTEC holiday policy.

 

4.   Change
in ControL

 

For purposes
of this Agreement, “Change in Control” event shall mean the occurrence of any one of the following:

 

(i)      Any
consolidation, merger or other similar transaction (i) involving TTEC Parent, if TTEC Parent is not the continuing or surviving
corporation, or (ii) which contemplates that all or substantially all of the business and/or assets of TTEC Parent would be controlled
by another corporation or legal entities not controlled by TTEC Parent;

 

(ii)     Any
sale, lease, exchange or transfer (in one transaction or series of related transactions) of all or substantially all of the assets of
TTEC Parent (a “Disposition”); provided, however, that the foregoing shall not apply to any Disposition
with respect to which, following such Disposition, more than 51% of the combined voting power of the then outstanding voting securities
of the receiving entity for the Disposition are directly or indirectly (beneficially or otherwise) owned by all or substantially all
of the individuals and entities that were the beneficial owners of at least 51% of the outstanding common stock and/or other voting securities
of TTEC Parent immediately prior to such Disposition, in substantially the same proportion of total ownership as their ownership immediately
prior to such Disposition;

 

(iii)     Approval
by the stockholders of TTEC Parent of any plan or proposal for the liquidation or dissolution of TTEC, unless such plan or proposal is
abandoned within 60 days following such approval;

 

(iv)     The
acquisition by any “person” (as such term is used in Sections 13(d) and 14(d)(2) of the U.S. Securities Exchange
Act of 1934, as amended (“the Exchange Act”)), or two or more persons acting in concert, of beneficial ownership (within
the meaning of Rule 13d-3 of the Exchange Act) of 51% or more of the outstanding shares of voting stock of TTEC Parent; provided,
however, that for purposes of the foregoing, the term “person” shall exclude Kenneth D. Tuchman and his affiliates;
provided, further that the foregoing shall exclude any such acquisition (1) made directly from TTEC Parent, (2) made
by TTEC Parent (directly or through an affiliated company), or (3) made by a TTEC employee benefit plan (or related trust) sponsored
or maintained by TTEC Parent or any of its affiliates; or

 

    4

     

    

 

(v)      If,
during any period of 15 consecutive calendar months commencing at any time on or after the Effective Date, those individuals (“Continuing
Directors”) who either (1) were directors of TTEC Parent on the first day of each such 15-months period, or (2) subsequently
became directors of TTEC Parent and whose actual election or initial nomination for election subsequent to that date was approved by
a majority of the Continuing Directors who were then members of the TTEC Parent Board of Directors, cease to constitute a majority of
the Board of Directors of TTEC Parent.

 

		5.	Termination
                                            and Payments, Benefits On Termination.

 

a.       Termination
by Either Party. Except as set forth in Paragraphs 5(c) (termination for Cause), (e) (termination due to death) and
(f) (termination due to disability), and subject to provisions of Paragraph 5(j) (constructive termination or good reason),
either Party may terminate the employment relationship with 30 days’ written notice to the other. Both parties may mutually agree
to a shorter notice period.

 

b.       Termination
by the Company without Cause. Subject to provisions of Paragraph 5(i) (Change in Control termination), upon 30 days written
notice, the Company, in its sole discretion, may terminate the Executive’s employment without Cause (as “Cause”
is defined in Paragraph 5(g)). Constructive Termination by the Company (as the term is defined in Paragraph 5(j)) constitutes Termination
without Cause by the Company for purposes of this Agreement. In case of termination pursuant to this Paragraph 5(b), the Executives shall
be entitled to:

 

(i)      Severance.
If Mr. Semach executes a separation agreement in a form substantially similar to the agreement set forth in Exhibit E
(attached hereto), releasing all legal claims except for those that cannot legally be released and Mr. Semach continues to comply
with all terms of such separation agreement, and any other agreements signed by the Executive with the Company, then the Company shall
pay Mr. Semach severance compensation equal to fifteen (15) full calendar months of his then current Base Salary (“Severance”
or “salary continuation”). Salary continuation payments will be made at the Company’s regular payroll intervals, provided,
however, payments accruing for payroll periods prior to the date that the Company has received a signed and effective separation agreement
and release shall be suspended and paid on the first payroll date following the effective date of the separation and release.

 

(ii)      Continuation
of Benefits. In addition to Severance, the Company shall continue to provide to Executive and to the Executive’s eligible dependents
with the same level of welfare and health benefits, including without limitation medical, dental, vision, accident, disability, life
insurance, and other welfare benefits in place prior to termination of employment for a period of twelve (12) months after the effective
date of such termination, on substantially the same terms and conditions (including contributions required by the Executive for such
benefits) as existed immediately prior to termination; provided that, if Executive cannot continue to participate in the Company’s,
TTEC Parent’s or successor’s benefit plans, TTEC Parent or successor shall otherwise provide such benefits on the same after-tax
basis as if continued participation had been permitted.

 

If the Company
terminates this Agreement without Cause under this Paragraph 5(b), and the Company pays Mr. Semach the compensation earned
as of the effective date of the termination, and provides to Mr. Semach incremental compensation and continuation of benefits on
the terms specified in this Paragraph 5(b), the Company’s acts in doing so shall be in complete accord and satisfaction of any
claim that Mr. Semach has or may at any time have for compensation, benefits or payments of any kind from the Company or TTEC Parent
arising from or relating in whole or part to the Executive’s employment with the Company and/or this Agreement. If the separation
agreement and legal release referenced above is not signed within thirty (30) days from the date that such agreement is presented to
Mr. Semach (which the Company shall present no later than fifteen (15) days after the effective date of Executive’s termination),
then Mr. Semach waives his right to receive any severance compensation pursuant to this Agreement, even if Mr. Semach
were to successfully litigate any claim against the Company and/or TTEC Parent.

 

    5

     

    

 

c.       Termination
by the Company for Cause. The Company may terminate this Agreement with no notice for Cause, as that term is defined in
Paragraph 5(g), with the Company's only obligation being the payment of any salary and compensation earned as of the date of termination,
reimbursement of any reasonable business expenses incurred by the Executive in accordance with the Company’s expense reimbursement
policies, and any continuing obligations under the Company benefit plans then in effect, and without liability for severance compensation
of any kind, including Severance set forth in Paragraph 5(b).

 

d.       Termination
by Executive. If the Executive terminates this Agreement for any reason, Executive shall be entitled to all compensation fully
earned, benefits fully vested as of the last date of employment; and the reimbursement of any reasonable business expenses that the Executive
incurred prior to termination. Mr. Semach is not entitled to severance compensation if he terminates his employment with the Company
for any reason, except the Good Reason as articulated in Paragraph 5(j). Termination by the Executive for “Good Reason” (as
the term is defined in Paragraph 5(j)) shall constitute Termination without Cause by the Company for purposes of this Agreement.

 

e.       Termination
upon Executive’s Death. This Agreement shall terminate immediately upon Executive’s death. Thereafter, the Company
shall pay to the Executive’s estate all compensation fully earned, and benefits fully vested as of the last date of Executive’s
continuous, full-time active employment with the Company; and will provide the estate with the reimbursement of any reasonable business
expenses that the Executive incurred prior to his death in accordance with the Company’s expense reimbursement policies. For purposes
of this Agreement, continuous, full-time active employment shall be defined as the last date upon which Executive continuously performed
his job responsibilities on a regular, full-time basis consisting of at least 35 hours per week, and in the usual course of the Company’s
business (“Continuous Full-Time Active Employment”). In case of Executive’s death, the Company shall not be required
to pay any form of severance or other compensation concerning or on account of the Executive’s employment with the Company or the
termination thereof.

 

f.        Termination
Due to or Following Disability. During the first ninety (90) calendar days after a mental or physical condition that renders
Executive unable to perform the essential functions of his position with reasonable accommodation (the “Initial Disability Period”),
Executive shall continue to receive his Base Salary pursuant to Paragraph 2(a) of this Agreement. Thereafter, if Executive qualifies
for benefits under the Company’s long-term disability insurance plan (the “LTD Plan”), then Executive shall remain
on leave for as long as Executive continues to qualify for such benefits, up to a maximum of 180 consecutive days (the “Long-term
Leave Period”). The Long-term Leave Period shall begin on the first day following the end of the Initial Disability Period. During
the Long-term Leave Period, Executive shall be entitled to any benefits to which the LTD Plan entitles the Executive, but no additional
compensation from the Company in the form of salary, performance bonus, equity grants, allowances or otherwise. If during or at the end
of the Long-term Leave Period Executive remains unable to perform the essential functions of his position, with or without reasonable
accommodation, then the Company may terminate this Agreement and/or Executive’s employment. If the Company terminates this Agreement
or Executive’s employment under this Paragraph 6(f), the Company’s payment obligation to Executive shall be limited to all
compensation fully earned, reimbursement of all reasonable business expenses that the Executive incurred prior to the separation in accordance
with the company’s expense reimbursement policies, and benefits fully vested as of the last date of Executive’s continuous,
full-time active employment with the Company.

 

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g.       Definition
of “Cause”. For purposes of this Agreement, “Cause” shall have the following meaning:

 

(i)      Fraud,
theft, embezzlement (or attempted fraud, theft, embezzlement), dishonest acts or illegal conduct;

 

(ii)     Other
similar acts of willful misconduct on the part of Executive resulting in damage to TTEC Parent or the Company, including without limitation
a material breach by the Executive of the requirements of TTEC Ethics Code that results in a negative publicity for the Company, TTEC
Parent or any subsidiary thereof;

 

(iii)     Failure
by the Executive to meet his and/or cause TTEC Parent to meet its agreed performance targets with gaps in performance being significant
in the judgement of the TTEC Parent CEO and the Compensation Committee of the Board;

 

(iv)     A
material breach by the Executive of this Agreement;

 

(v)      Use
of any controlled substance or alcohol while performing Executive’s duties, except as part of a TTEC Parent or the Company-sponsored
event in connection with a business-related social engagement such as a trade conference or customer entertainment, but only in moderation
and in a professional manner that reflects positively on TTEC Parent and the Company; with visible inebriation at a business-related
social engagement constituting a cause for immediate termination;

 

(vi)     A
breach of a fiduciary duty that results in an adverse impact to TTEC Parent or the Company or in personal profit to the Executive (as
determined by the Company based on its conflict of interest policies outlined in the TTEC Ethics Code);

 

(vii)    Use
of trade secrets or confidential information of TTEC Parent or the Company, other than in pursuit of TTEC Parent’s business;

 

(viii)   Aiding
any competitor of TTEC Parent, regardless of business segment where the competition may be relevant;

 

(ix)    Failure
by the Executive in the performance of his duties that results in material adverse effect on TTEC Parent or TTEC Parent subsidiary companies;

 

If the act
or acts constituting Cause are susceptible of cure, Company will provide Executive with written notice setting forth the acts constituting
Cause and providing that Executive may cure such acts within thirty (30) business days of receipt of such notice. Any recurrence of acts
constituting Cause within one (1) year of the original occurrence will void Executive’s right to such pre-termination right
to cure.

 

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h.        Continuing
Obligations. Mr. Semach shall remain subject to the Agreement to Protect Confidential Information, Assign Inventions and
Prevent Unfair Competition and Unfair Solicitation (“Confidentiality Agreements”), the non-disclosure, non-solicitation,
and non-competition undertakings in this Agreement and in any Equity Agreements, and any other similar agreements executed at any time
during his employment, including without limitation this Agreement, all of which survive termination of employment.

 

i.         Termination
In Connection with Change in Control Event. If a Change in Control event occurs, and at any time within twelve (12) months of
such Change in Control event’s effective date (“COC Period”) the Company, TTEC Parent, or its successor terminates
Executive’s employment without Cause (as that term is defined in Paragraph 5(g)) whether such termination occurs outright
or pursuant to a Constructive Termination (as defined in Paragraph 5(j)), the Executive shall be entitled to and the Company, TTEC Parent
or its successor shall cause the following to occur:

 

(i)      Severance.
If Executive executes a separation agreement in a form substantially similar to the agreement set forth in Exhibit E (attached
hereto), releasing all legal claims except for those that cannot legally be released and agreeing to continue to comply with all terms
of such separation agreement, and any other agreements signed by the Executive with the Company or successor, then the Company shall
pay the Executive a lump-sum severance compensation equal to one-and-a-half times (1.50x) of Executive’s Base Salary in effect
at the time of such termination (“COC Severance”) within ten (10) business days of the effective date of such Change
in Control related termination; provided, however, if the COC Severance payment is due prior to the date that the Company or successor
receive a signed and effective separation agreement and release, the payment shall be suspended until the receipt of such signed separation
agreement, and then paid as soon as reasonable but in no event later than ten (10) business days after such receipt.

 

(ii)      Continuation
of Benefits. In addition to COC Severance, the Company, TTEC Parent, or successor shall continue to provide to Executive and to the
Executive’s eligible dependents with the same level of welfare and health benefits, including without limitation medical, dental,
vision, accident, disability, life insurance, and other welfare benefits in place prior to termination of employment, for a period of
twelve (12) months after the effective date of such termination, on substantially the same terms and conditions (including contributions
required by the Executive for such benefits) as existed immediately prior to termination; provided that, if Executive cannot continue
to participate in TTEC Parent’s or successor’s benefit plans, TTEC Parent or successor shall otherwise provide such benefits
(via lump sum compensation or in kind) on the same after-tax basis as if continued participation had been permitted.

 

(iii)     Equity
Vesting on Change in Control (double trigger). Notwithstanding any vesting schedule provisions contained in Equity Agreements
that Executive may hold, any unvested equity that would vest pursuant to these awards on or after the Change in Control event effective
date and would otherwise forfeit on termination of employment, shall vest in full as of employment termination date, if such termination
occurs during the COC Period.

 

(iv)     Termination
Ahead of Change in Control Event. Notwithstanding anything in this Agreement to the contrary,
if Executive’s employment is terminated (actually or pursuant to a Constructive Termination as defined in Paragraph 5(j) of
this Agreement) within three (3) months before a Change in Control event occurs, then for purposes of this Agreement, the effective
date of Change in Control event shall be deemed to be the date immediately prior to the date of such termination of employment.

 

    8

     

    

 

j.         "Good
Reason" or “Constructive Termination.” Termination by Executive for “Good Reason”
or “Constructive Termination” by the Company may be triggered if, without Executive's express written consent, the occurrence
of any of the following (in connection with or independent of a Change in Control event):

 

(i)      Change
in Responsibilities. The material adverse change in the Executive’s scope of responsibilities and duties (including the diminution
of such duties and responsibilities), or material adverse change in the Executive’s reporting responsibilities or title by the
Company, TTEC Parent, or in case of a Change in Control event by their successor. Notwithstanding the foregoing, the change in scope
of Executive’s responsibilities, duties or title following the Executive’s failure to meet agreed targets and business objectives
for TTEC Parent shall not trigger the right of the Executive to terminate this Agreement for Good Reason nor constitute “Constructive
Termination” on the part of the Company.

 

(ii)     Change
in Compensation. Any material reduction by the Company, TTEC Parent or, in case of a Change in Control event by successor, of the
Executive’s total compensation package, including material adverse change in the annual salary, the incentive bonus ranges and
targets, or the timing of payment of same as compared to the compensation package in effect as of the date hereof or immediately prior
to a Change in Control event, as the case may be. Notwithstanding anything in this provision to the contrary, a change in the compensation
structure that is consistent with prevailing market trends, as supported by an independent report of a qualified compensation advisor
to the Compensation Committee of the Board, the Company or its successor, or temporary compensation reduction due to extraordinary circumstances
(e.g., a global pandemic) that do not single out the Executive but are consistent with other similarly situated members of the Executive
Committee shall not give rise to a ‘constructive termination’ or ‘termination for good reason’ claim.

 

(iii)    Change
in Location. Any requirement of the Company or successor that Executive be located anywhere more than fifty (50) miles from
TTEC parent’s greater metropolitan area of Denver, Colorado headquarter location or the site where the Executive is located at
the time of the Change in Control event.

 

(iv)     Failure
to Cause the Assumption of this Agreement. Failure of the Company or TTEC Parent to assign and obtain the assumption of this
Agreement from any successor in case of a Change in Control event.

 

An action
taken in good faith and which is remedied by TTEC Parent or successor within fifteen (15) calendar days after receipt of the Executive’s
notice thereof shall not constitute Good Reason or Constructive Termination under this Agreement. Executive must provide notice of termination
of employment within thirty (30) calendar days of Executive’s knowledge of an event constituting “Good Reason” or such
event shall not constitute Good Reason or Constructive Termination under this Agreement.

 

		6.	Non-Disclosure,
                                            Non-Competition and Non-Solicitation.

 

As a senior
member of the executive leadership team of TTEC Parent, the Executive is privy to TTEC Parent company wide global business and financial
strategy. Therefore, in addition to the provisions of the Confidentiality Agreements that the Executive signed at the time of his original
employment with the Company, the Executive in consideration of the employment opportunity and compensation provided hereunder, agrees
and covenants during the term of his affiliation with the Company (as an Executive or otherwise in leadership position):

 

    9

     

    

 

a.        Non-Compete
Undertaking. During and for a period of twelve (12) months from separation from TTEC Parent and/or the Company, not to work
or otherwise contribute his knowledge, directly or indirectly, in whole or in part, as an employee, officer, owner, manager, advisor,
consultant, agent, partner, director, significant shareholder (i.e. a shareholder holding more than 5% of outstanding equity in the company),
volunteer, intern or in any other similar capacity anywhere in the world to a business entity engaged in the same or substantially similar
business as TTEC Parent its subsidiaries and affiliates, including entities providing integrated customer experience technology services
to customers through the sale of software, hardware, consulting and other professional services to manage omnichannel CX technology solutions,
inclusive of the technology used for contact centers, customer relationship management systems, unified communications, journey orchestration,
automation (including artificial intelligence, machine learning and robotic process automation), CX analytics, business intelligence,
digital marketing and digital transformation (collectively, “TTEC Business”). The Non-Compete Undertaking shall be limited
by the territory where the Executive performs services for the Company and TTEC Parent, as provided in this Agreement. For the avoidance
of doubt, the term ‘performs services for’ shall not be limited to ‘works at’ or any other limitation delineating
where the Executive performs the actual services, but instead shall relate to the entire territory where the Company and/or TTEC Parent
benefit and are reasonable to expect to benefit from the Executive services. Given Mr. Semach’s role as the Chief Financial
Officer of TTEC Parent the territory for purposes of this Agreement shall be worldwide. Notwithstanding the foregoing, TTEC understands
and acknowledges that Executive’s work or other performance of services, after termination of employment with TTEC, for software
and hardware companies as well as cloud services companies that do not specialize in customer experience technology services and/or customer
experience business processes (CX services) does not constitute a violation of this Non-Compete Undertaking.

 

If Executive’s
employment is terminated pursuant to provisions of Paragraph 5(i) (Change in Control event) and if Executive is paid Change in Control
related compensation and receives other benefits as provided in that Paragraph, the Executive agrees for the Non-Competition Undertaking
to be extended from twelve (12) to fifteen (15) months; and

 

b.       Executive
Non-Solicitation Undertaking. During and for a period of twelve (12) months from separation from TTEC Parent and the Company,
the Executive agrees not to solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment, directly or
indirectly, of any then current employees of the Company or TTEC Parent or their subsidiaries and affiliates.

 

If Executive’s
employment is terminated pursuant to provisions of Paragraph 6(i) (Change in Control event) and if Executive is paid Change in Control
related compensation and receives other benefits as provided in that Paragraph, the Executive agrees for the employee Non-Solicitation
Undertaking to be extended from twelve (12) to fifteen (15) months; and

 

c.       Client
Non-Solicitation Undertaking. During and for a period of twelve (12) months from separation from TTEC Parent or the Company,
the Executive agrees not to solicit or interfere with business relationships between any affiliated company of TTEC Parent and current
and prospective (currently actively pursued) clients of companies affiliated with TTEC Parent, or any of its subsidiaries and affiliates,
for purposes of offering or accepting goods or services similar to or competitive with those offered by TTEC Parent affiliated companies
or any of their subsidiaries and affiliates.

 

If Executive’s
employment is terminated pursuant to provisions of Paragraph 6(i) (Change in Control event) and if Executive is paid Change in Control
related compensation and receives other benefits as provided in that Paragraph, the Executive agrees for the Client Non-Solicitation
Undertaking to be extended from twelve (12) to fifteen (1) 5months.

 

    10

     

    

 

d.       Consequences
of Breach. If Executive breaches any of the covenants and undertakings set forth in this Paragraph 6:

 

(i)      The
Executive and those who aid him in such breach shall be liable for all costs and business loses including any damages and out-of-pocket
expenses associated with or resulting from such breach;

 

(ii)      In
addition to all other remedies available to the Company and TTEC parent if the Executive breaches the Non-Competition and Non-Solicitation
Undertakings set forth in this Section 6, the value of any vested, at the time of the vesting, of the RSU awards that have vested
during Executive’s tenure with the Company shall be returned by the Executive back to the Company within 15 (fifteen) days of notice
of the aforementioned breach, since the primary purpose of the RSU awards (the Executive’s loyalty to the Company and the honoring
of the Non-Competition and Non-Solicitation Undertakings) would not be realized by the Company;

 

(iii)     TTEC
Parent nor the Company shall have any further liabilities to the Executive pursuant to this Agreement, including without limitation no
liability for any compensation including equity not yet granted or granted and unvested;

 

(iv)     The
Executive hereby consents and agrees that TTEC Parent and the Company shall be entitled to seek, in addition to other available remedies,
a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction,
without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity
of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary
damages or other available forms of relief.

 

7.   Miscellaneous.

 

a.       Relationship
between this Agreement and Other Company Agreements. In the event of any direct conflict between any term of this Agreement and
any other TTEC Parent and/or Company agreement, policy, procedure, guideline or other publication addressing the same terms and conditions
contained in this Agreement, the terms of this Agreement shall control Mr. Semach’s employment.

 

b.       Successors
and Assigns. TTEC Parent, the Company, their successors and assigns may in their sole discretion assign this Agreement to any
person or entity in connection with the merger, acquisition or other business combination that results in the divestiture or transfer
of all or substantially all the assets of the Company or TTEC Parent. This Agreement shall bind and inure to the benefit of TTEC Parent’s
and the Company's successors or assigns. This Agreement is for personal services and Mr. Semach’s may not and shall not assign
his rights or obligations hereunder.

 

c.        IRSC
Section 409A.

 

(i)       Interpretation.
This Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided
in a manner that is either exempt from, or complies with, the requirements of Section 409A of the Internal Revenue Code of 1986,
as amended (the “Code”) and the Internal Revenue Service guidance and Treasury Regulations thereunder (collectively, “Section 409A”).
It is the Parties’ intention that salary continuation payments under the Agreement will be exempt from the requirements of Section 409A
because they are short term deferrals under Treas. Reg. Sec. 1.409A-1(b)(4) or payments under a separation pay plan within the meaning
of Treas. Reg. Sec. 1.409A-1(b)(9) and the Agreement shall be construed and administered in a manner consistent with such intent.

 

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(ii)      Separation
from Service; Separate Payments. Notwithstanding anything in this Agreement to the contrary, to the extent that any payment or benefit
subject to Section 409A, including an exemption from Section 409A, and such payment or benefit would otherwise be payable or
distributable hereunder by reason of Executive’s termination of employment, all references to the Executive’s “termination
of employment” shall be construed to mean a “separation from service,” as defined in Treasury Regulation Section 1.409A-1(h),
and Executive shall not be considered to have had a termination of employment unless such termination constitutes a “separation
from service” with respect to Executive. If under this Agreement, an amount is to be paid in two or more installments, for purposes
of Section 409A, each installment shall be treated as a separate payment.

 

(iii)     Specified
Employee. Notwithstanding anything in this Agreement to the contrary, if the Executive is a “specified employee” (within
the meaning of Treasury Regulation Section 1.409A-1(i)) on the date of the Executive’s “separation from service”,
any benefit or payment that constitutes non-exempt “nonqualified deferred compensation” (within the meaning of Section 409A)
and is payable on account of the Executive’s separation from service shall be delayed in order to avoid a prohibited distribution
under Section 409A(a)(2)(B)(i), and any such delayed payment shall be paid to the Executive in a lump sum during the ten (10) day
period commencing on the earlier of (i) the expiration of a six-month period from the date of Executive’s “separation
from service,” or (ii) Executive’s death. To the greatest extent permitted under Section 409A, any separate payment
or benefit under the Agreement will not be deemed to constitute “nonqualified deferred compensation” subject to Section 409A
and the six-month delay requirement to the extent provided in the exceptions in Treasury Regulation Sections 1.409A-1(b)(4) or 1.409A-1(b)(9),
or in any other applicable exception or provision of Section 409A.

 

(iv)     Reimbursements.
With regard to any provision in this Agreement that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted
by Section 409A, (x) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another
benefit, (y) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not
affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing
clause (y) shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of
the Code solely because such arrangement provides for a limit on the amount of expenses that may be reimbursed over some or all of the
period the arrangement is in effect and (z) such payments shall be made on or before the last day of Semach’s taxable year
following the taxable year in which the expenses were incurred.

 

(v)      Cooperation.
If the Parties hereto determine that any payments or benefits payable under this Agreement intended to comply with Section 409A
do not so comply, the Executive and the Company agree to amend this Agreement, or take such other actions as the Executive and the Company
deem necessary or appropriate, to comply with the requirements of Section 409A, while preserving benefits that are, in the aggregate,
no less favorable than the benefits as provided to the Executive under this Agreement. If any provision of this Agreement would cause
such payments or benefits to fail to so comply, such provision shall not be effective and shall be null and void with respect to such
payments or benefits, and such provision shall otherwise remain in full force and effect.

 

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d.       Governing
Law and Dispute Resolution.

 

(i)      Good
Faith Negotiation Requirement. Mr. Semach, TTEC Parent and the Company agree that in the event of any controversy or claim arising
out of or relating to Mr. Semach’s employment with and/or separation from the Company, they shall negotiate in good faith
to resolve the controversy or claim privately, amicably and confidentially. Each Party may consult with counsel in connection with such
negotiations.

 

(ii)     Governing
Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Colorado without regard to conflict
of law principles.

 

(iii)     Disputes.
The Parties agree that any action arising from or relating in any way to this Agreement, shall be resolved and tried in the state
or federal courts situated in Denver, Colorado. The parties consent to jurisdiction and venue of those courts to the greatest extent
allowed by law. In this regard, the Executive acknowledges and admits to all or a combination of several following substantial contacts
with Colorado: (v) the Executive is employed, provides services for or otherwise is affiliated with an legal entity headquartered
in the state of Colorado; (w) the Executive receives the compensation in a form of checks or wire transfers that are drawn either
directly or indirectly, from bank accounts in Colorado; (x) the Executive regularly interacts with, contacts and is contacted by
other TTEC and Company employees and executives in Colorado; (y) the Executive either routinely travels to or attends business meetings
in Colorado; and (z) the Executive receives substantial compensation and benefits as a result of TTEC Parent being a corporation
headquartered in and subject to the laws of Colorado. Based on these and other contacts, the Executive acknowledges that he could reasonably
be subject to the laws of Colorado.

 

e.       Severability.
If any court of competent jurisdiction declares any provision of this Agreement invalid or unenforceable, the remainder of the Agreement
shall remain fully enforceable. To the extent that any court concludes that any provision of this Agreement is void or voidable, the
court shall reform such provision(s) to render the provision(s) enforceable, but only to the extent absolutely necessary to
render the provision(s) enforceable.

 

f.        Modification
of Agreement. This Agreement or any other term or condition of employment may not be modified by word or deed, except in writing
signed by the Executive and the Chief People Officer or Chief Executive Officer for TTEC Parent.

 

g.        Waiver.
 No provision of this Agreement shall be deemed waived, nor shall there be an estoppel against the enforcement of any such provision,
except by a writing signed by the party charged with the waiver or estoppel. No waiver shall be deemed continuing unless specifically
stated therein, and the written waiver shall operate only as to the specific term or condition waived, and not for the future or as to
any act other than that specifically waived.

 

h.        Construction.
Whenever applicable, masculine and neutral pronouns shall equally apply to the feminine genders; the singular shall include the plural
and the plural shall include the singular. The Parties have reviewed and understand this Agreement, and each has had a full opportunity
to negotiate the agreement's terms and to consult with counsel of their own choosing. Therefore, the Parties expressly waive all applicable
common law and statutory rules of construction that any provision of this Agreement should be construed against the agreement's
drafter, and agree that this Agreement and all amendments thereto shall be construed as a whole, according to the fair meaning of the
language used.

 

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i.        Dodd-Frank
and Other Clawback Provisions.  Notwithstanding any other provision in this Agreement or in the related Equity Agreements, this
Agreement is subject to TTEC Incentive Recoupment Policy promulgated in accordance with the requirements of the Sarbanes-Oxley Act of
2002 and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, and incorporated herein by reference as Exhibit F.

 

Notwithstanding
any other provision in this Agreement or in the relevant Equity Agreements, if Executive materially breaches the requirements of TTEC
Ethics Code in a manner that results in a negative publicity to TTEC Parent, the Company or any affiliate thereof then any payments made,
or equity awards granted (and equity received pursuant to these awards) for the year(s) when such breach occurred (regardless of
when discovered or made public) shall be returned and forfeited.

 

j.        Greatest
Net Benefit.

 

(i)      Anything
in this Agreement to the contrary notwithstanding, in the event that the Executive determines (at his discretion and expense) that the
receipt of any payments hereunder would subject the Executive to tax under Internal Revenue Code (the “Code”) Section 4999
or a successor provision, the Executive shall have the option at his discretion to cause TTEC Parent or successor to reduce the payment
due to the Executive under this Agreement so that the net (after tax) benefit of the payments to the Executive is maximized (“Reduced
Payment Election”). The Executive shall have forty-five (45) calendar days from receipt of notice of the payment due under this
Agreement or the payment itself under this Agreement, as the case may be, to advise TTEC Parent or successor of such election.

 

(ii)      If
the Executive accepts the full payment hereunder and thereafter within the period provided above determines that he/she wants to make
the Reduced Payment Election, any payments received by the Executive in excess of the amount payable under Reduced Payment Election shall
be treated for all purposes as a loan ab initio to the Executive, which the Executive shall repay to TTEC Parent or successor,
together with appropriate interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code, within sixty
(60) days of the Reduced Payment Election.

 

(iii)    Nothing
in this Paragraph 8(j) shall be interpreted to compel the Executive to make the Reduced Payment Election.

 

k.        Assignment
and Assumption of Agreement. Concurrently with any Change in Control
event or a business combination that may impact the legal implications of this Agreement, the Company, TTEC Parent shall cause any successor
or transferee to assume unconditionally, by written instrument delivered to Executive, all of the obligations of the Company and TTEC
Parent hereunder. Failure of the Company or TTEC Parent to obtain such assumption prior to the effectiveness of any Change in Control
event or other business combination, shall be a breach of this Agreement and shall constitute Good Reason entitling the Executive to
resign, within thirty (30) calendar days of consummation of such Change in Control event or business combination, and receive compensation
and benefits as provided in Paragraph 6(i).

 

l.        Controlling
Provisions. The employment arrangement contemplated by this Agreement includes other related documents in addition to this Executive
Employment Agreement, some of which are TTEC Parent and the Company’s standard documents not otherwise tailored to this transaction.
To the extent any provisions of these related agreements contradict the clear provisions and terms of this Executive Employment Agreement,
the provisions of this Agreement shall be controlling.

 

    14

     

    

 

Mr. Semach
acknowledges and agrees that he reviewed and fully understands the terms and provisions of this Agreement; that he enters into it freely,
knowingly, and mindful of the fact that it creates important legal obligations and affects his legal rights; and that he understands
the need to and has had the opportunity to consult with legal counsel about the terms and conditions of this Agreement.

 

	Executive	 	TTEC
                                            Holdings, Inc.
	 	 	 
	/s/ Dustin J. Semach	 	/s/
                                            Michael Wellman, Chief People Officer
	Date: 11/9/2021	 	Date:
                                            11/9/2021

 

    15

     

    

 

List
of Exhibits

 

Exhibit A:     TTEC
Ethics Code: How TTEC Does Business

 

https://www.ttec.com/sites/default/files/how-ttec-does-business-our-ethics-code-for-employees-suppliers-and-partners.pdf

 

TTEC
Executive and Senior Financial Officers Ethics Code

 

Exhibit B:     TTEC
Executive and Senior Financial Officers Ethics Code

 

https://investors.ttec.com/static-files/1cc30592-98f2-45ff-8679-5ea0dbf24e37

 

Exhibit C:     Not
Used in This Document

 

Exhibit D:     Executive
Stock Ownership Guidelines

 

Incorporated
in this document below

 

Exhibit E:     Sample
Separation and Release Agreement

 

Incorporated
in this document below

 

Exhibit F:     TTEC
Incentive Recoupment Policy

 

https://investors.ttec.com/static-files/c8d8459a-049e-472a-a3ef-35654486a970

 

    16

     

    

 

Exhibit C

 

TTEC
Relocation Terms and Repayment Agreement

 

    17

     

    

 

Exhibit D

 

To
Executive Employment Agreement

 

Executive
Stock Ownership Guidelines

 

Equity
provides the opportunity for the company to further invest in the employees who passionately uphold our values while driving the business
with an entrepreneurial spirit. Company leaders who think and act like owners are crucial to our success and encouraging star players
to actively participate in company growth is key to building our future together.

 

When
a company’s board of directors, shareholders and employees align their interest in organization’s long- term success, the
stage is set for true transformation. To that end, TTEC has adopted Stock Ownership Guidelines to encourage company leaders (vice president-level
and above) to align their interests with TTEC and our stockholders and to focus on value creation, while sharing in the company’s
success. The following are answers to questions you may have about TTEC’s new Executive Stock Ownership Guidelines.

 

Executive
Stock Ownership Guidelines

 

Q.
Why are we implementing an Ownership Guideline?

 

		A.	The
Guidelines are designed to align our senior leaders’ interests with our shareholders’ interest, driving a long-term vision
and commitment to creating company value. The Executive Ownership Guidelines are also designed to:

 

		•	Support
confidence in company strategy to execute our business transformation

 

		•	Allow
us to remain an attractive and competitive choice for executive-level talent by adopting best practices

 

		•	Align
executive behavior with external shareholder expectation

 

		•	Drive
long-term accountability

 

		•	Enable
company success

 

Q.
How much stock should I hold as a company leader?

 

		A.	The
new Executive Stock Ownership Guidelines call for TTEC vice presidents and above to hold a multiplier of base compensation in TTEC stock
(based on Fair Market Value (FMV) of stock as it trades on NASDAQ). Employees will have five years from the start of this requirement
(or promotion into a new role) to meet the holding Guidelines

 

Q.
Do I have to buy TTEC stock to meet this holding Guideline?

 

		A.	TTEC
does not expect you to buy TTEC stock to meet the holdings Guidelines, and how you meet them is entirely up to you. Most employees will
be able to meet the requirement by holding a portion of their annual equity grant (net of tax), as it vests.

 

Q.
How many shares should I consider holding from each RSU grant to meet the holding Guidelines?

 

		A.	How
much you hold from each grant and from each vesting event is entirely up to you. Based on basic modeling, however, we believe that if
you hold a percentage of each vesting event from annual Equity Grants (net of tax as indicated in the table below) you should comfortably
reach the holding requirement in five years or sooner.

 

    18

     

    

 

The
holding guideline can be satisfied with any stock you hold including:

 

		•	the
exercise of options to purchase the company’s common stock

 

		•	the
vesting of restricted stock; and

 

		•	the
vesting of performance shares.

 

	Executive 
Level	 	Guideline of Percentage of
 Net Shares to Hold	 
	Executive Vice President	 	 	75	%
	Senior Vice President	 	 	75	%
	Group Vice President	 	 	50	%

 

Once
the holding target is reached, you should maintain it during your entire tenure in the role; and as your role changes be aware of the
changes in the holding guidelines as well.

 

		Q.	What
happens if I don’t reach my target holding amount within the five-year time frame due to market volatility or amount of my equity
awards?

 

		A.	If
the actual Equity Grants you receive and/or market price volatility does not allow an employee to reach the target holding level within
the required five-year time frame, the company does not expect employees to invest out of pocket. The company expects the Equity Grants
you receive to be the source for the holding requirement and we look to you as a leader to exercise a good faith effort to honor the
requirements. If the Equity Grants you receive or market volatility creates a challenge, discuss the matter with your supervisor and
your HC partner for a practical resolution.

 

		Q.	What
if I have a special situation (hardship) that makes maintaining the holding requirement difficult for me?

 

		A.	The
Executive Ownership Guidelines is designed to align your interests with the company’s interests and position you to share in our
success. If your personal situation makes the compliance with the Ownership Guidelines a hardship, speak to your HC partner and the Executive
Committee level executive responsible for your business segment for guidance and support.

 

		Q.	Whom
should I contact with questions?

 

		A.	If
                                            you have questions, please contact Pam LeMasters, Vice President, Total Rewards via
                                            email or by phone at 303.397.8531.

 

    19

     

    

 

Exhibit E

 

Executive
Employment Agreement

 

(Sample
Severance Agreement and Release of Claims)

 

[DATE]

 

PERSONAL &
CONFIDENTIAL

 

[NAME]

[ADDRESS]

 

Dear
[NAME]:

 

As
you have been advised, your employment with TTEC Services Corporation (“TTEC” or “the Company”) will terminate
effective the close of business on ____________ (“Termination Date”).  This letter contains a Settlement
Agreement and Release of Claims (“Agreement”) intended to resolve any and all disputes arising from your employment and your
separation from employment with TTEC on mutually agreeable terms as set forth below.  Please review it carefully, and if it
is acceptable to you, sign and return an original copy to TTEC Human Capital Department, 9197 S. Peoria Street, Englewood, Colorado 80112
Attn: Settlement Agreements, either by mail or by hand delivery. If you are 40 or over, you have been provided 21 days from the date
of this Agreement to consider whether to enter into this Agreement.

 

SETTLEMENT
Agreement and Release of Claims

 

This
Agreement is made between ______________ (“you”) and TTEC (collectively, the “Parties”). In consideration
of the mutual promises and other benefits set forth herein, the receipt and sufficiency of which is hereby acknowledged, the Parties
agree as follows:

 

		1.	Settlement
                                            Payment: Provided that you sign and return this Agreement, and it thereafter becomes
                                            effective as described below, you will receive a settlement payment equivalent to ___________________of
                                            your base salary, for a total amount of $__________________ (“Settlement Payment”).
                                            Payment shall be made in bi-weekly installments in accordance with the Company’s normal
                                            payroll schedule, less applicable federal, state, and local taxes and other authorized deductions
                                            and shall be started within 15 days of the Termination Date.

 

		2.	Benefits:
                                            Your current medical, dental, vision and healthcare flexible spending account coverage
                                            (to the extent that you have a positive balance in that account as of today’s date)
                                            will be continued until the Termination Date. After the Termination Date, you may continue
                                            your existing medical insurance coverage at your own expense pursuant to your rights under
                                            federal law (commonly referred to as “COBRA”). You will receive information on
                                            COBRA in a later mailing.

 

		3.	Other
                                            Compensation Due You: You will receive payment for any salary earned through the
                                            date of your separation from the Company, less applicable taxes and authorized or required
                                            withholding deductions.  You understand that you will be paid your earned wages and
                                            commissions, if any, set forth in this paragraph regardless of whether you sign this Agreement.

 

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		4.	Reimbursement
                                            for Business Expenses: Within five days of the Termination Date, you will provide
                                            to the Company expense reports detailing all items, if any, for which you seek reimbursement,
                                            and the required supporting documentation for such expenses. If you hold a corporate credit
                                            card account, and there is an outstanding amount due and owing on that account, you must
                                            submit documentation showing that the account has been paid in full within five days of the
                                            Termination Date and understand and agree that if you do not, the Company may withhold any
                                            amounts due and owing on that account from the Settlement Payment. Your expense reports and
                                            supporting documentation will be subject to the same level of review that all other similar
                                            submissions receive from the Company’s Accounting Department. The Company will reimburse
                                            you in accordance with its existing policies and procedures. In addition, you will provide
                                            supporting documentation for all previously filed expense reports and agree to cooperate
                                            with the Company’s Accounting Department to resolve in good faith any issues relating
                                            to expenses.

 

		5.	Return
                                            and Prohibition of Removal of Company Property and Records. Except as otherwise specifically
                                            provided in this Agreement, you shall return all Company property and records on the Termination
                                            Date. In the event you fail to return such property or records provided herein, you shall
                                            be liable to the Company for the value of all such property and records, and all reasonable
                                            costs, including attorneys’ fees, incurred by the Company in recovering such property
                                            or records. Company property and records shall include, but is not limited to, cell phones,
                                            pagers, BlackBerry devices, tablets, laptops, printers, fax machines, and any Company related
                                            document whether in written or electronic form and whether created by you or another person
                                            or entity. Company equipment, files or business information of any kind, whether written,
                                            electronic, digital, or otherwise, shall not be copied, taken or otherwise used by you without
                                            the prior written consent of the Company. In addition, the Company reserves the right to
                                            pursue all legal and equitable relief available for breach of this paragraph.

 

		6.	Agreement
                                            to Protect Confidential Information, Assign Inventions, and Prevent Unfair Competition and
                                            Unfair Solicitation.   You understand that all terms and conditions of
                                            your “Agreement to Protect Confidential Information, Assign Inventions, and Prevent
                                            Unfair Competition and Unfair Solicitation” (the “Non-Compete Agreement”)
                                            and any other applicable employment documents you signed during your employment at TTEC,
                                            survive Termination and shall remain in full force and effect.

 

		7.	Acknowledgment:
                                            You understand and agree that, absent this Agreement, you would not otherwise be
                                            entitled to the payment specified in Paragraph 1. Further, by signing this Agreement, you
                                            agree that you are entitled only to the payments described in this Agreement and that you
                                            are not entitled to any payments that are not specifically listed in this Agreement, excluding
                                            vested rights you may have pursuant to the Company’s 401(k), Stock Option, Restricted
                                            Stock Units and Life Insurance plans.

 

		8.	General
                                            Release of All Claims: In exchange for the Company’s payments in Paragraph
                                            1, you promise that you will not sue TTEC Services Corporation, including its past and present
                                            parents, subsidiaries, partnerships, affiliated companies, officers, directors, employees,
                                            or agents. By signing below, you release TTEC Services Corporation, including its past and
                                            present parents, subsidiaries, partnerships, affiliated companies, officers, directors, employees
                                            or agents (collectively, the “Released Parties”), from any and all claims you
                                            may have, known or unknown, that are releasable by private agreement,
                                            arising at any time through the date that this Agreement becomes effective, which
                                            is eight [8] days after you sign it without revoking it. The release specifically includes
                                            and is not limited to:

 

		a.	any
                                            and all rights or claims under any of the following laws: Title VII of the Civil Rights Act
                                            of 1964, 42 U.S.C. § 2000-e, as amended; the Civil Rights Act of 1991; Sections 1981
                                            through 1988 of Title 42 of the United States Code, as amended; the Family and Medical Leave
                                            Act of 1993, as amended; the Worker Adjustment and Retraining Notification Act, as amended;
                                            the Fair Labor Standards Act of 1938, as amended; the National Labor Relations Act; the Occupational
                                            Safety and Health Act, as amended; the Age Discrimination in Employment Act; the Americans
                                            with Disabilities Act of 1990, as amended; the Civil Rights Acts of 1866, 1871, and 1991;
                                            the Equal Pay Act of 1963; the Employment Retirement and Income Security Act of 1974, as
                                            amended; the Immigration Reform and Control Act, as amended; the Conscientious Employment
                                            Protection Act, the Colorado Anti-Discrimination Act and any other federal, state, or local
                                            employment statute, law, or ordinance, including any and all claims of employment discrimination
                                            based on race, color, creed, religion, national origin, sex, age, marital status, disability,
                                            sexual orientation, lawful off-duty conduct, or retaliation; and

 

    21

     

    

 

		b.	any
                                            and all common-law claims such as wrongful discharge, violation of public policy, breach
                                            of contract, promissory estoppel, defamation, negligence, infliction of emotional distress,
                                            any intentional torts, outrageous conduct, interference with contract, fraud, misrepresentation,
                                            and invasion of privacy; and

 

		c.	any
                                            and all claims for any of the following: money damages (including actual, compensatory, liquidated
                                            or punitive damages), equitable relief such as reinstatement or injunctive relief, front
                                            or back pay, wages, commissions, bonuses, benefits, sick pay, PTO pay, vacation pay, costs,
                                            interest, expenses, attorney fees, or any other remedies; and

 

		d.	any
                                            and all claims arising under any federal or state "whistleblower" law, including
                                            without limitation the Sarbanes-Oxley Act of 2002, the Whistleblower Protection Act, and
                                            common-law wrongful discharge in violation of public policy.

 

		9.	Age
                                            Waiver for Executive 40 Years Old or More: By signing this Agreement, you acknowledge
                                            that:

 

		a.	The
                                            General Release in this Agreement includes a waiver and release of all claims you may have
                                            under the Age Discrimination in Employment Act of 1967 (29 U.S.C. § 621 et seq.);

 

		b.	You
                                            have carefully read, and understand, this Agreement;

 

		c.	You
                                            have twenty-one (21) days from the date of this Agreement to consider your rights and obligations
                                            under this Agreement and if you elect to sign it sooner, have done so knowingly, voluntarily,
                                            and after giving it your due consideration;

 

		d.	You
                                            were, and hereby are, advised to consult with an attorney and/or any other advisors of your
                                            choice before signing this Agreement;

 

		e.	You
                                            understand that this Agreement is legally binding and by signing it you give up certain rights;

 

		f.	You
                                            have voluntarily chosen to enter into this Agreement and have not been forced or pressured
                                            in any way to sign it;

 

		g.	You
                                            knowingly and voluntarily release the Released Parties from any and all claims you may have,
                                            known or unknown, in exchange for the payments and benefits you have obtained by signing
                                            this Agreement, and that these payments are in addition to any payments or benefits you would
                                            have otherwise received if you did not sign this Agreement;

 

		h.	You
                                            have seven (7) days from the date you sign this Agreement to change your mind and revoke
                                            your acceptance. To be effective, your revocation must be in writing and tendered to TTEC
                                            Corporate Headquarters, Human Capital Department, 9197 S. Peoria Street, Englewood, Colorado
                                            80112 Attn: Settlement Agreements, either by mail or by hand delivery, within the seven (7) day
                                            period. If by mail, the revocation must be: 1) postmarked within the seven (7) day period;
                                            2) properly addressed; and 3) sent by Certified Mail, Return Receipt Requested. The Agreement
                                            will become effective on the eighth day after you sign it, provided you do not revoke your
                                            acceptance. You understand that the Company is not required to make the payments described
                                            herein unless and until this Agreement becomes effective; and

 

		i.	You
                                            understand that this Agreement does not waive (i) any rights or claims that may arise
                                            after this Agreement is signed and becomes effective, which is after the Company’s
                                            actual receipt of your signed signature page and after the 7-day revocation period has
                                            expired, nor (ii) any claim for indemnification (A) under the organizational documents
                                            of the Company, (B) in any director or officer indemnification agreement between you
                                            and the Company, (C) required under applicable law, or (D) under any directors’
                                            and officers’ or other insurance policy maintained by the Company.

 

    22

     

    

 

		10.	No
                                            Admission of Wrongdoing: By entering into this Agreement, neither you nor the Company
                                            nor any of the Released Parties suggest or admit any wrongdoing or violation of law.

 

		11.	No
                                            Claims Filed: As a condition of the Company entering into this Agreement, you represent
                                            that you have not filed, and do not intend to file, any lawsuit against the Company, or any
                                            of the other Released Parties. This Agreement shall not be construed to prohibit you from
                                            filing a charge or complaint with the National Labor Relations Board, the Equal Employment
                                            Opportunity Commission, or participating in any investigation or proceedings conducted by
                                            either entity.

 

		12.	Confidentiality:
                                            You agree that the terms of this Agreement are confidential. You also agree not to
                                            tell anyone about this Agreement and not to disclose any information contained in this Agreement
                                            to anyone, other than your lawyer, financial advisor and immediate family members, unless
                                            you are compelled to do so by law. If you do tell your lawyer, financial advisor or immediate
                                            family members about this Agreement or its contents, you must immediately tell them that
                                            they must keep it confidential as well.

 

		13.	Breach
                                            of this Agreement: You promise to abide by the terms and conditions in this Agreement
                                            and understand that if you do not, the Company is entitled to seek damages and injunctive
                                            relief.

 

		14.	Entire
                                            Agreement: This Agreement, together with the Arbitration Agreement, Agreement to
                                            Protect Confidential Information, Assign Inventions and Non-Solicitation (collectively, the
                                            "Executive Agreements") constitute the complete understanding between the Parties
                                            concerning all matters affecting your employment with the Company, the termination thereof
                                            and any ongoing responsibilities. You hereby affirm and will comply with any and all ongoing
                                            obligations contained in the Executive Agreements, including obligations relating to confidentiality
                                            of Company information and binding arbitration. Moreover, you acknowledge that no promises
                                            or representations have been made to induce you to sign this Agreement other than as expressly
                                            set forth herein and that you have signed this Agreement as a free and voluntary act.

 

		15.	Severability.
                                            If any clause, provision or paragraph of this Agreement is found to be void, invalid
                                            or unenforceable, such finding shall have no effect on the remainder of this Agreement, which
                                            shall continue to be in full force and effect. Each provision of this Agreement shall be
                                            valid and enforced to the fullest extent permitted by law.

 

		16.	Changes
                                            to the Agreement: This Agreement may not be changed unless the changes are in writing
                                            and signed by you and an authorized representative of the Company.

 

		17.	Governing
                                            Law. This Agreement shall be governed and construed in accordance with the laws of
                                            the State of Colorado, excluding its choice of law rules, and shall be binding upon the parties
                                            hereto and their respective successors and assigns.

 

If
you agree, please sign and return to the Company as instructed above.

 

		 	By
                                            signing below, you accept
	 	 	this
                                            Agreement and all of
	 	 	the
                                            terms herein.

 

	TTEC Services Corporation	 	 	 
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Date:	 	 	Date:	 

 

    23

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