Document:

EXB 10.28 - Separation Agreement and Release of Claims between the Registrant and Mark T. Troughton

Exhibit 10.28
GREEN DOT CORPORATION
SEPARATION AGREEMENT AND RELEASE OF CLAIMS
This Separation Agreement and Release of Claims (the “Agreement”) is made by and between Green Dot Corporation, a Delaware corporation (the “Company”), and Mark Troughton (“Executive”) dated as of February 24, 2012 (the “Agreement Date”).
WHEREAS, Executive is currently an employee of the Company.
WHEREAS, the Company and Executive wish to terminate their working relationship as of the Separation Date (defined below), and as such Executive's employment with the Company is being terminated.
WHEREAS, in exchange for Executive's agreement to release the Company from any and all claims arising from or related to the employment relationship, the Company shall provide the benefits as set forth herein.
NOW, THEREFORE, in consideration of the mutual promises made herein, the Company and Executive (collectively referred to as the “Parties”) hereby agree as follows:
1.Termination.  Executive and the Company acknowledge and agree that Executive's resignation shall be effective, and his employment with the Company shall terminate, as of the close of business, on February 24, 2012 (the “Separation Date”).
2.Separation Benefits.  In consideration for the release of claims set forth below and other obligations under this Agreement and in full satisfaction of its obligations to Executive under the terms of any agreements Executive may have with the Company, and provided that this Agreement is executed and delivered by Executive and not revoked under Section 6 herein, the Company agrees to provide Executive with the benefits described in Section 3 below.
3.Separation Consideration.  
In exchange for Executive's agreement to the release of claims set forth in Section 5 below, the Company agrees to provide Executive with the following benefits (the “Separation Benefits”):
(a)Vesting Acceleration and Post‐Termination Exercise Period for Stock Options.  As of the Separation Date, Executive holds options to purchase a total of 643,133 shares of the Class B Common Stock of the Company and 24,000 shares of the Class A Common Stock of the Company (the “Option(s)”) under the terms of the Company's 2001 Stock Plan (the “2001 Plan”) and the 2010 Equity Incentive Plan (the “2010 Plan” collectively the “Plans”), and related stock option agreements evidencing such Options under the Plans.  To the extent any Options held by Executive are unvested as of the Separation Date, such unvested Options shall have their vesting accelerate as to one hundred percent such that as of the Effective Date all of the Options shall be vested and exercisable.  Executive agrees that under the terms of the Plans and related stock option agreements he has 90 days from his Separation Date to exercise such vested options.  Notwithstanding the foregoing, in exchange for Executive's release of claims, the Company shall modify the period during which Executive may exercise his Option(s), such that the Option(s) shall be exercisable to 5:00 pm Pacific Standard Time on January 10, 2013.
(b)Severance Payment.  On the thirtieth (30th) day following the Separation Date the Company will commence to pay Executive monthly severance, provided the Effective Date has

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occurred, based on an annual salary of $475,000.  The first salary continuation payment shall include a catch-up payment covering amounts that would otherwise have been paid during the thirty (30) day period and the remaining salary continuation payments shall thereafter be paid on the normal payroll schedule of the Company.  All severance payments shall be paid by January 10, 2013, and such severance payments shall cease on such date.
(c)Bonus Payment.  The Company will pay to you the second half of your 2011 bonus, up to a maximum of $95,000, following determination by the Compensation Committee of the Board of the relevant performance metrics applicable to such bonus (the “2011 Bonus”).
(d)COBRA Continuation Coverage.  Executive will be eligible to continue his group health insurance benefits at his own expense following the Separation Date, provided Executive Timely elects COBRA continuation coverage.  
4.No Other Payments Due.  Executive acknowledges that, on the Separation Date, the Company provided him a final paycheck for all accrued salary, any commissions or bonuses that may have accrued or may accrue, unused accrued vacation and other sums that were due to Executive through the Separation Date.  Except as specifically provided in Section 3 hereof, Executive acknowledges and agrees that he shall not be entitled to earn or receive payment of any commission or other incentive compensation from the Company.
5.Release of Claims.  In consideration for the benefits set forth above, Executive, on behalf of himself, and his respective heirs, executors, administrators and assigns, hereby fully and forever releases the Company and its affiliates and subsidiaries, and each of their respective heirs, executors, officers, directors, employees, investors, stockholders, administrators, predecessor and successor corporations and assigns (collectively, the “Released Parties”), of and from any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that any of them may possess arising from any omissions, acts or facts that have occurred up until and including the Separation Date including, without limitation:
(a)any and all claims relating to or arising from Executive's employment relationship with the Company and the termination of that relationship;
(b)except with respect to the benefits provided for in  Section 3 hereof (and the rights appurtenant thereto), any and all claims relating to or arising from the Option(s) or any other right to purchase shares of the Company's stock;
(c)any and all claims for sales commissions, performance bonuses or similar payments;
(d)any and all claims for wrongful discharge of employment; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied, negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; negligence; and defamation;
(e)any and all claims for violation of any federal, state or municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the California Fair Employment and Housing Act, and any family and medical leave acts; and
(f)any and all claims relating to or arising out of any other laws and regulations relating to employment or employment discrimination.

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The Company and Executive agree that the release set forth in this Section 5 shall be and remain in effect in all respects as a complete general release as to the matters released.  This release does not extend to any payments or benefits receivable, or obligations incurred or specified under this Agreement or to any right of Indemnification Executive had as an officer of the Company, or to any benefits to which Executive is entitled under any 401(k), profit sharing or other employee benefit plan (including the Plans) maintained by the Company to which he is entitled or vested prior to and as of the Separation Date.
6.Acknowledgment of Waiver of Claims under ADEA.  Executive waives and releases any rights under the Age Discrimination in Employment Act of 1967 (“ADEA”). This waiver and release is knowing and voluntary.  Executive was advised by this writing that (a) he should consult with an attorney; (b) he has twenty‐one (21) days to consider this Agreement; (c) he has seven (7) days following his signing this Agreement to revoke it (the “Revocation Period”).  This Agreement shall be effective on the eighth (8th) day following the date Executive signed the Agreement without revocation by him (the “Effective Date”).
7.Civil Code Section 1542.  Executive represents that he is not aware of any claim that he has with respect to the Released Parties other than the claims that are released by this Agreement.  Executive acknowledges that he is familiar with the provisions of California Civil Code Section 1542, which provides as follows:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.
Executive, being aware of said Code section, agrees to expressly waive any rights he may have thereunder, as well as under any other statute or common law principles of similar effect.
8.Benefits.  Executive's health insurance benefits will cease on the Separation Date, subject to his right (and his qualified beneficiaries' rights) to COBRA continuation coverage.  Executive's participation in all other employee benefits and incidents of employment cease on the Separation Date.
9.Covenants.
(a)Voting Agreement and Irrevocable Proxy.  Executive agrees, as a condition to receipt of the benefits set forth in Section 3 hereof, to execute and be bound by a Voting Agreement and Irrevocable Proxy with respect to shares of the Common Stock of the Company, including Shares underlying the Options, owned by Executive (the “Voting Agreement”).  
(b)Confidential Information.  Executive represents, warrants and agrees that: (i) he properly signed, returned and became a party to the Employee Proprietary Information and Invention Assignment Agreement with the Company (the “Confidentiality Agreement”), (ii) the Confidentiality Agreement remains binding and enforceable between the parties; and (iii) Executive has not breached any of his obligations to the Company under the terms of the Confidentiality Agreement.  
(c)Return of Company Property.  Executive agrees to return to the Company all Company documents (and all copies thereof) and other Company property which Executive has in his possession or control, including, but not limited to, Company files, notes, drawings, records, plans, forecasts, reports, studies, analyses, proposals, agreements, financial information, research and development information, sales and marketing information, customer lists, prospect information, pipeline reports, sales reports, operational and personnel information, specifications, code, software, databases, computer-recorded information, tangible property and equipment (including, but not limited to,

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computers, facsimile machines, mobile telephones, servers), credit cards, entry cards, identification badges and keys; and any materials of any kind which contain or embody any proprietary or confidential information of the Company (and all reproductions thereof in whole or in part).  Executive acknowledges that he has made a diligent search to locate any such documents, property and information by prior to the execution of this agreement.  In addition, if Executive has used any personally owned computer, server, or e-mail system to receive, store, review, prepare or transmit any Company confidential or proprietary data, materials or information, then within fifteen (15) days after the Separation Date, Executive shall provide the Company with a computer-useable copy of such information and permanently delete and expunge such Company confidential or proprietary information from those systems.
(d)Mutual Non‐Disparagement.   Executive agrees that he will not engage in conduct or undertake speech (written or oral) derogatory to or otherwise disparaging of the Company, any officer of the Company, any member of its Board, or its products or services.   The Company agrees that its Section 16 Officers and its Board will not engage (or direct others to engage) in conduct or undertake speech (written or oral) derogatory to or otherwise disparaging of Executive.  For purposes of this Section 9(d), Company includes any successor or acquirer of the Company and its officers, members of its board of directors and its products and services.  
(e)Non-Solicitation.  Executive further agrees that until January 10, 2013, Executive will not as an employee, agent, consultant, advisor, independent contractor, general partner, officer, director, stockholder, investor, lender or guarantor of any corporation, partnership or other entity, or in any other capacity,  directly or indirectly for herself/himself or on behalf of any other person,  without the prior written consent of the Company: (i) interfere with the relationship between the Company and its employees or consultants or contractors by encouraging, inducing, soliciting or attempting to solicit any such employee or consultant or contractor to terminate his or her employment or end his or her relationship with the Company; (ii) solicit or attempt to solicit for employment on behalf of Executive or any other person, any person who is an employee or consultant of the Company; or (iii) induce or assist any other person to engage in any of the activities described in (i) and (ii) above.   Notwithstanding the foregoing, for purposes of this Agreement, the placement of general advertisements that may be targeted to a particular geographic or technical area but that are not specifically targeted toward employees of the Company shall not be deemed to be a breach of this Section 9(e).  For purposes of this Agreement, “Person” means a natural person, corporation, partnership or other entity or a joint venture of two or more of the foregoing.
(f)Condition Precedent.  Executive Agrees that a condition precedent to receiving the benefits set forth in Section 3 hereof, he will not, until January 10, 2013, as an employee, agent, consultant, advisor, independent contractor, general partner, officer, director, stockholder of any corporation, partnership or other entity, or in any other capacity, directly or indirectly for himself or on behalf of any other person, engage or participate in or acquire any financial or beneficial interest in, any business that competes with the Business in the Restrictive Territory; and in the event Executive breaches this clause (f), then Executive agrees (i) that the Company shall be permitted to cease any continuing severance payments under Section 3; and (ii) to return any severance payments already paid to him, net of taxes, to the Company.  For purposes of this subsection (f), “Business” means participating or engaging in, or rendering any services to any business engaged in the design, research, development, manufacture, operation, production, marketing, sale or servicing of any product, or the provision of any service that directly relates to the business of the Company as conducted on the Separation Date, and “Restrictive Territory” means each of the fifty states of the United States.  Notwithstanding the foregoing, Executive may own, directly or indirectly, solely as an investment, up to one percent (1%) of any class of “publicly traded securities” of any business that is competitive or substantially similar to the Business. 
10.Breach of this Agreement. Each party acknowledges that upon material breach of any provision of this Agreement, the Company its officers and directors, on the one hand, and Executive on the other hand, would sustain irreparable harm from such breach, and, therefore, each party agrees that in

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addition to any other remedies which a party may have for any material breach of this Agreement or otherwise, such party shall be entitled to obtain equitable relief including specific performance, injunctions and restraining the other party from committing or continuing any such violation of this Agreement. 
11.Authority.  The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement.  Executive represents and warrants that he has the capacity to act on his own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Agreement.  Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein.
12.No Representations.  Neither Party has relied upon any representations or statements made by the other Party hereto which are not specifically set forth in this Agreement.
13.Severability.  In the event that any provision hereof becomes or is declared by a court or other tribunal of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision.
14.Arbitration.  The Parties shall attempt to settle all disputes arising in connection with this Agreement through good faith consultation.  In the event no agreement can be reached on such dispute within fifteen (15) days after notification in writing by either Party to the other concerning such dispute, the dispute shall be settled by binding arbitration to be conducted in Los Angeles County, California before the American Arbitration Association under its under its Employment Arbitration Rules and Mediation Procedures, or by a judge to be mutually agreed upon.  The Company shall pay the costs of the arbitration proceeding, provided however that each Party shall, unless otherwise determined by the arbitrator, bear its or his own attorneys' fees and expenses.  The arbitration decision shall be final, conclusive and binding on both Parties and any arbitration award or decision may be entered in any court having jurisdiction.  The Parties agree that the prevailing party in any arbitration shall be entitled to injunctive relief in any court of competent jurisdiction to enforce the arbitration award.  This Section 14 shall not apply to any breach of or efforts to enforce the Confidentiality Agreement.  The parties hereby waive any rights they may have to trial by jury in regard to arbitrable claims.
15.Entire Agreement.  This Agreement, along with the other agreements referenced herein, including, without limitation, the Passivity Agreement, represents the entire agreement and understanding between the Company and Executive concerning Executive's separation from the Company, and supersedes and replaces any and all prior agreements and understandings concerning Executive's employment relationship with the Company.  
16.Section 409A.  To the extent (a) any payments or benefits to which Employee becomes entitled under this Agreement, or under any agreement or plan referenced herein, in connection with Employee's termination of employment with the Company constitute deferred compensation subject to Section 409A of the Internal Revue Code of 1986, as amended (the “Code”) and the regulations thereunder and (b) Employee is deemed at the time of such termination of employment to be a “specified employee” under Section 409A of the Code, then such payments shall not be made or commence until the earliest of (i) the expiration of the six (6)-month period measured from the date of Employee's “separation from service” (as such term is at the time defined in Treasury Regulations under Section 409A of the Code) from the Company; or (ii) the date of Employee's death following such separation from service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to Employee, including (without limitation) the additional twenty percent (20%) tax for which Employee would otherwise be liable under Section 409A(a)(1)(B) of the Code in the absence of such deferral.  Upon the expiration of the applicable deferral period, any payments which would have

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otherwise been made during that period (whether in a single sum or in installments) in the absence of this paragraph shall be paid to Employee or Employee's beneficiary in one lump sum (without interest).  Any termination of Employee's employment is intended to constitute a “separation from service” and will be determined consistent with the rules relating to a “separation from service” as such term is defined in Treasury Regulation Section 1.409A-1.  It is intended that each installment of the payments provided hereunder constitute separate “payments” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i).  It is further intended that payments hereunder satisfy, to the greatest extent possible, the exemption from the application of Section 409A of the Code (and any state law of similar effect) provided under Treasury Regulation Section 1.409A-1(b)(4) (as a “short-term deferral”).  To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision will be read in such a manner so that all payments hereunder comply with Section 409A of the Code
17.Withholding Taxes.  All amounts payable pursuant to this Agreement shall be subject to applicable withholding taxes.
18.No Oral Modification.  This Agreement may only be amended in writing signed by Executive and the Company.
19.Effective Date.  This Agreement is effective upon the Effective Date.
20.Governing Law.  This Agreement shall be governed by the laws of the State of California, without regard to its conflicts of law provisions.
21.Counterparts.  This Agreement may be executed in counterparts, and each coun-terpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned.
22.Assignment.  This Agreement may not be assigned by Executive without the prior written consent of the Company.
23.Voluntary Execution of Agreement.  This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims.  The Parties acknowledge that: 
(a)they have read this Agreement; 
(b)they have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice or that they have voluntarily declined to seek such counsel; 
(c)they understand the terms and consequences of this Agreement and of the releases it contains; and 
(d)they are fully aware of the legal and binding effect of this Agreement.

[SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, the Parties have executed this Separation Agreement and Release on the respective dates set forth below.
	
		
	 
	GREEN DOT CORPORATION

	 
	 

	Dated February 24, 2012
	/s/ Steven W. Streit

	 
	By: Steven W. Streit, CEO

	 
	 

	Dated February 24, 2012
	/s/ Mark Troughton

	 
	By: Mark Troughton

7EXB 10.29 - Voting Agreement and Irrevocable Proxy between the Registrant and Mark T. Troughton

Exhibit 10.29
VOTING AGREEMENT AND IRREVOCABLE PROXY
This Voting Agreement and Irrevocable Proxy (the “Agreement”) is entered into as of February 24, 2012 by and between Mark T. Troughton (“Stockholder”) and Green Dot Corporation, a Delaware corporation (the “Company”).
WHEREAS, the Company and Stockholder are parties to that certain Separation Agreement, dated as of the date hereof (as amended from time to time, the “Separation Agreement”); and
WHEREAS, the execution and delivery of this Agreement by Stockholder is a material inducement to the willingness of the Company to enter into the Separation Agreement. 
NOW, THEREFORE, the parties hereto agree as follows:
ARTICLE 1
Voting Restrictions; Grant Of Proxy
Section 1.01Voting Restrictions on Shares.  Stockholder hereby agrees that, prior to the third anniversary of the date hereof, at every meeting of the stockholders of the Company, and at every adjournment or postponement thereof, he will vote, to the extent not voted by the person(s) appointed under the Proxy (as defined in Section 1.02 below), the Shares (as defined below) and any New Shares (as defined below) in accordance with the recommendation of management or the Board of Directors of the Company with respect to each matter on which the holders of shares of Class A Common Stock or Class B Common Stock are entitled to vote.  
Section 1.02Irrevocable Proxy.  Concurrently with the execution and delivery of this Agreement, Stockholder shall deliver to the Company a duly executed proxy in the form attached hereto as Exhibit A (the “Proxy”), which proxy is coupled with an interest sufficient in law to support an irrevocable proxy, and, until the third anniversary of the date hereof, shall be irrevocable to the fullest extent permitted by law, with respect to each and every meeting of stockholders of the Company or action or approval by written resolution or consent of stockholders of the Company with respect to the matters contemplated by Section 1.01 covering the total number of Shares and New Shares in respect of which Stockholder is entitled to vote at any such meeting or in connection with any such written consent.  Upon the execution of this Agreement by Stockholder, Stockholder hereby revokes any and all prior proxies (other than the Proxy) given by Stockholder with respect to the subject matter contemplated by Section 1.01.
Section 1.03    Effect on New Shares.  Any shares of Company capital stock or other securities of the Company that Stockholder purchases or with respect to which Stockholder otherwise acquires beneficial ownership (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) after the date of this Agreement and prior to the third anniversary of the date hereof, including by reason of any stock split, stock dividend, reclassification, recapitalization or other similar transaction or pursuant to the exercise of Company Options and Other Rights (as defined below) (collectively, the “New Shares”) shall be subject to the terms and conditions of this Agreement to the same extent as if they constituted Shares.

ARTICLE 2
Representations And Warranties Of Stockholder
Stockholder represents and warrants to the Company as of the date hereof that:
Section 2.01Authorization.  Stockholder has all requisite power, capacity and authority to enter into this Agreement and to consummate the transactions contemplated hereby.  The execution and delivery of this Agreement by Stockholder and the consummation by Stockholder of the transactions contemplated hereby have been duly authorized by all necessary action, if any, on the part of Stockholder, and no other actions or proceedings on the part of Stockholder are necessary to authorize the execution and delivery by Stockholder of this Agreement and the consummation by Stockholder of the transactions contemplated hereby.  This Agreement has been duly executed and delivered by Stockholder and, assuming the due authorization, execution and delivery of this Agreement by the Company, constitutes a valid and binding obligation of Stockholder, enforceable against Stockholder in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors' rights and remedies generally and to general principles of equity.
Section 2.02Non-Contravention.  The execution and delivery of this Agreement does not, and the performance by Stockholder of his agreements and obligations hereunder will not, conflict with, result in a breach or violation of or default under (with or without notice or lapse of time or both), or require notice to or the consent of any person under, any agreement, commitment, law, rule, regulation, judgment, order or decree to which Stockholder is a party or by which Stockholder is, or any of his assets are, bound, except for such conflicts, breaches, violations or defaults that would not, individually or in the aggregate, prevent or delay Stockholder from performing his obligations under this Agreement.
Section 2.03Ownership of Shares.  As of the date hereof, Stockholder is the beneficial or record owner of, or exercises voting power over, that number of shares of Company capital stock set forth on the signature page hereto (all such shares owned beneficially or of record by Stockholder, or over which Stockholder exercises voting power, on the date hereof, collectively, the “Shares”).  As of the date hereof, the Shares constitute Stockholder's entire interest in the outstanding shares of Company capital stock and Stockholder is not the beneficial or record holder of, and does not exercise voting power over, any other outstanding shares of capital stock of the Company.  No person not a signatory to this Agreement has a beneficial interest in or a right to acquire or vote any of the Shares (other than, if Stockholder is a married individual and resides in a state with community property laws, the community property interest of his or her spouse to the extent applicable under such community property laws).  The Shares are free and clear of any lien or encumbrance and any other limitation or restriction (including any restriction on the right to vote or otherwise dispose of such shares).  None of the Shares is subject to any voting trust or other agreement or arrangement with respect to the voting of such shares.  Stockholder's principal residence or place of business is set forth on the signature page hereto.

Section 2.04Ownership of Other Company Securities.  As of the date hereof, Stockholder is the legal and beneficial owner of the number of options and other rights to acquire, directly or indirectly, shares of Class A Common Stock of the Company or Class B Common Stock (collectively, “Common Stock”) of the Company set forth on the signature page hereto (collectively, the “Company Options and Other Rights”).  The Company Options and Other Rights are free and clear of any lien or encumbrance and any other limitation or restriction (including any restriction on the right to vote or otherwise dispose of such shares).  
ARTICLE 3
Representations And Warranties Of The Company
The Company represents and warrants to Stockholder as of the date hereof that:
Section 3.01.Corporation Authorization.  The execution, delivery and performance by the Company of this Agreement and the consummation by the Company of the transactions contemplated hereby are within the corporate powers of the Company and have been duly authorized by all necessary corporate action.  This Agreement constitutes a valid and binding agreement of the Company enforceable in accordance with its terms.
Section 3.02.Non-Contravention.  The execution, delivery and performance by the Company of this agreement and the consummation of the transactions contemplated hereby do not and will not (i) violate the certificate of incorporation or bylaws of the Company, (ii) violate any applicable law, rule, regulation, judgment, injunction, order or decree, (iii) require any consent or other action by any person under, constitute a default under, or give rise to any right of termination, cancellation or acceleration or to a loss of any benefit to which the Company is entitled under any provision of any agreement or other instrument binding on the Company or (iv) result in the imposition of any lien or encumbrance on any asset of the Company.
ARTICLE 4
Covenants Of Stockholder
Stockholder hereby covenants and agrees that:
Section 5.01.No Proxies for Shares.  Except pursuant to the terms of this Agreement, Stockholder shall not, without the prior written consent of the Company, directly or indirectly, grant any proxies or enter into any voting trust or other agreement or arrangement with respect to the voting of any shares of Common Stock that is in any manner inconsistent with Section 1.01 hereof, until after the third anniversary of the date hereof.
Section 5.02.No Actions.  Except as otherwise provided herein, Stockholder shall not, in his capacity as a stockholder of the Company, directly or indirectly, take any action that would make any representation or warranty contained herein untrue or incorrect or be reasonably expected to have the effect of impairing the ability of Stockholder to perform his obligations under this Agreement.  

ARTICLE 5
Miscellaneous
Section 5.01.Notices.  All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission but not electronic mail) and shall be given,
if to the Company, to:
Green Dot Corporation
605 East Huntington Drive, Suite 205 
Monrovia, CA 91016
Attention: Legal Department
Facsimile No.: (626) 775-3704
if to Stockholder, to the address set forth for Stockholder on the signature page hereof.
or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other party hereto.  All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a business day in the place of receipt.  Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding business day in the place of receipt.
Section 5.02.Further Assurances.  Stockholder will execute and deliver, or cause to be executed and delivered, all further documents and instruments, and use his reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable law to implement the voting restrictions contemplated by this Agreement.
Section 5.03.Amendments and Waivers; Termination.  (a) Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement or in the case of a waiver, by the party against whom the waiver is to be effective.
(b)    No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.
(c)    This Agreement shall terminate automatically on to the third anniversary of the date hereof.
Section 5.04.Expenses.  All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such cost or expense.
Section 5.05.Successors and Assigns.  The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and

assigns; provided that no party may assign, delegate or otherwise transfer any of his rights or obligations under this Agreement without the consent of the other party hereto.  Notwithstanding the foregoing, nothing in this Section 5.05 or elsewhere in this Agreement shall prevent the Stockholder from transferring all or a portion of the Shares or create any obligations for third-party purchasers of the Shares, provided that the Stockholder does not beneficially own (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) the Shares held by such third parties following such purchases.  
Section 5.06.Governing Law.  This Agreement and any claim or dispute arising hereunder or in connection herewith shall be construed in accordance with and governed by the laws of the State of Delaware, without regard to the conflicts of law rules of such state.
Section 5.07.Jurisdiction.  The parties hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the actions contemplated hereby shall be brought in the United States District Court for the District of Delaware or any Delaware State court sitting in Wilmington, Delaware, so long as one of such courts shall have subject matter jurisdiction over such suit, action or proceeding, and that any cause of action arising out of this Agreement shall be deemed to have arisen from a transaction of business in the State of Delaware, and each of the parties hereby irrevocably consents to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in any such court has been brought in an inconvenient forum.  Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.  Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 5.01 shall be deemed effective service of process on such party.
Section 5.08.WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
Section 5.09.Counterparts; Effectiveness.  This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.  This Agreement shall become effective when each party hereto shall have received counterparts hereof signed by all of the other parties hereto.  Until and unless each party has received a counterpart hereof signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).
Section 5.10Entire Agreement.  This Agreement and the documents and instruments and other agreements specifically referred to herein or delivered pursuant hereto (including, without limitation, the Proxy) constitutes the entire agreement between the parties with respect to

the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement.
Section 5.11Severability.  If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other governmental authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party.  Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.
Section 5.12Specific Performance; Injunctive Relief.  The parties hereto acknowledge that the Company will be irreparably harmed and that there will be no adequate remedy at law for a violation of any of the covenants or agreements of Stockholder set forth herein or in the Proxy.  Therefore, it is agreed that, in addition to any other remedies that may be available to the Company upon any such violation of this Agreement or the Proxy, the Company shall have the right to enforce such covenants and agreements and the Proxy by specific performance, injunctive relief or by any other means available to the Company at law or in equity and Stockholder hereby waives any and all defenses that could exist in his favor in connection with such enforcement and waives any requirement for the security or posting of any bond in connection with such enforcement.

[Remainder of this page intentionally left blank]

IN WITNESS WHEREOF, the parties hereto have duly executed this Voting Agreement and Irrevocable Proxy as of the day and year first above written.
	
			
	GREEN DOT CORPORATION

	 
	STOCKHOLDER:

	By: /s/ Steven W. Streit
	 
	/s/ Mark T. Troughton

	Name: Steven W. Streit
	 
	Name: Mark T. Troughton

	Title: CEO
	 
	 

	 
	 
	(Print Address)

	 
	 
	 

	 
	 
	(Print Address)

	 
	 
	 

	 
	 
	(Print Fax Number)

	 
	 
	 

	 
	 
	(Print Telephone Number)

Shares and Company Options and Other Rights beneficially owned on the date hereof, or over which Stockholder exercises voting power on the date hereof:
	
		
	Class A Common Stock, par value $0.001 per share
	 

	Class B Common Stock, par value $0.001 per share
	 

	Company Stock Options
	 

	Company Restricted Stock Units
	 

	Other:  ______________ (specify)
	 

EXHIBIT A

IRREVOCABLE PROXY
TO VOTE STOCK OF
GREEN DOT CORPORATION

The undersigned stockholder (“Stockholder”) of Green Dot Corporation, a Delaware corporation (the “Company”), hereby irrevocably (to the fullest extent permitted by applicable law) appoints Steven W. Streit, John L. Keatley and John C. Ricci of the Company, or any other designee of the Company, as the sole and exclusive attorney and proxy of Stockholder, with full power of substitution and resubstitution, to vote and exercise all voting and related rights (to the fullest extent that Stockholder is entitled to do so) with respect to all of the shares of capital stock of the Company that now are or hereafter may be beneficially owned by Stockholder, and any and all other shares or securities of the Company issued or issuable in respect thereof on or after the date hereof (collectively, the “Shares”) in accordance with the terms of this Irrevocable Proxy.  The Shares beneficially owned by Stockholder as of the date of this Irrevocable Proxy are listed on the final page of this Irrevocable Proxy.  Upon Stockholder's execution of this Irrevocable Proxy, any and all prior proxies (other than this Irrevocable Proxy) given by Stockholder with respect to the subject matter contemplated by this Irrevocable Proxy are hereby revoked with respect to such subject matter and Stockholder agrees to not, without the prior written consent of the Company, grant any subsequent proxies or enter into any voting trust or other agreement or arrangement with respect to the voting of any shares of Class A Common Stock and Class B Common Stock of the Company that is in any manner inconsistent with Section 1.01 of the Voting Agreement (defined below), until after the third anniversary of the date hereof.
Until the third anniversary of the date hereof, this Irrevocable Proxy is irrevocable (to the fullest extent permitted by applicable law), is coupled with an interest sufficient in law to support an irrevocable proxy, is granted pursuant to that certain Voting Agreement and Irrevocable Proxy dated as of even date herewith by and between the Company and Stockholder (the “Voting Agreement”), and is granted in consideration of the Company entering into that certain Separation Agreement, dated as of the date hereof (the “Separation Agreement”), by and between the Company and the Stockholder.  
The attorneys and proxies named above, and each of them, are hereby authorized and empowered by Stockholder, at any time prior to the third anniversary of the date hereof, to act as Stockholder's attorney and proxy to vote the Shares, and to exercise all voting and other rights of Stockholder with respect to the Shares, at every annual, special or adjourned meeting of the stockholders of the Company as follows: in accordance with the recommendation of management or the Board of Directors of the Company with respect to each matter on which the holders of shares of Class A Common Stock or Class B Common Stock are entitled to vote.
The attorney and proxy named above may not exercise this Irrevocable Proxy on any other matter except as provided above.  Stockholder may vote the Shares on all other matters.

All authority herein conferred shall survive the death or incapacity of Stockholder and any obligation of Stockholder hereunder shall be binding upon the heirs, personal representatives, successors and assigns of Stockholder. 
[Remainder of this page intentionally left blank]

    

This Irrevocable Proxy is coupled with an interest as aforesaid and is irrevocable.  This Irrevocable Proxy may not be amended or otherwise modified without the prior written consent of the Company.  This Irrevocable Proxy shall terminate, and be of no further force and effect, automatically on the third anniversary of the date hereof.
Dated:  February 24, 2012
	
			
	 
	 
	 

	Dated:
	February 24, 2012
	 

	 
	 
	 

	 
	 
	/s/ Mark T. Troughton

	 
	 
	Mark T. Troughton

	 
	 
	 

	 
	 
	 

	 
	 
	Shares beneficially owned on the date hereof:

    	
		
	Class A Common Stock, par value $0.001 per share
	 

	Class B Common Stock, par value $0.001 per share
	 

	Company Stock Options (Class A)
	 

	Company Stock Options (Class B)
	 

	Company Restricted Stock Units
	 

	Other:  ______________ (specify)

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