Document:

EX-10.7

 Exhibit 10.7 

Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

WEBBANK 
 and 

LENDINGCLUB CORPORATION 

SECOND AMENDED AND RESTATED 

LOAN ACCOUNT PROGRAM AGREEMENT 

Dated as of 
 February 28,
2014 

 Privileged & Confidential 

 
 SCHEDULES AND EXHIBITS 

 

			
	 SCHEDULE 1
	  	Definitions
		
	EXHIBIT A	  	The Program
		
	EXHIBIT B	  	Credit Policy
		
	EXHIBIT C	  	Form of Application
		
	EXHIBIT D	  	Loan Account Documentation
		
	EXHIBIT E	  	Bank Secrecy Act Policy
		
	EXHIBIT F	  	Sample Funding Statement
		
	EXHIBIT G	  	Third-Party Service Contractors
		
	EXHIBIT H	  	Insurance Requirements
		
	EXHIBIT I	  	Program Compliance Manual

 Privileged & Confidential 

 
 This SECOND AMENDED AND RESTATED LOAN ACCOUNT PROGRAM AGREEMENT (this
“Agreement”), dated as of February 28, 2014 (“Effective Date”), is made by and between WEBBANK, a Utah-chartered industrial bank having its principal location in Salt Lake City, Utah (“Bank”), and LENDINGCLUB
CORPORATION, a Delaware corporation, having its principal location in San Francisco, California (“Company”). 
 WHEREAS, Company
is in the business of providing certain services necessary for the origination of consumer and business installment loans; 
 WHEREAS, Bank
is in the business of originating various types of consumer and business loans, including installment loans; 
 WHEREAS, the Parties have
developed a program pursuant to which Company markets and Bank has originated installment loans for qualifying consumers identified by Company, pursuant a Loan Account Program Agreement dated as of November 8, 2010 (as amended, the
“Existing Program Agreement”); and 
 WHEREAS, effective as of the Effective Date, the Parties desire to amend and restate the
terms of their Existing Program Agreement on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing
and the terms, conditions and mutual covenants and agreements herein contained, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Bank and Company mutually agree as follows: 

 

	1.	Definitions; Effectiveness. 

  

	 	(a)	The terms used in this Agreement shall be defined as set forth in Schedule 1, and the rules of construction set forth in Schedule 1 shall apply to this Agreement. 

 

	 	(b)	This Agreement shall be effective as of the Effective Date and, as of the Effective Date, shall supersede and replace the Existing Program Agreement. This Agreement shall apply to all Loan Accounts originated by Bank
during the term of this Agreement, beginning on the Effective Date. Loans originated on or after the Effective Date shall not be subject to the Existing Program Agreement. 

 

	 	(c)	All Loan Accounts originated by Bank prior to the Effective Date shall be governed by the terms of the Existing Program Agreement as in effect at the time that such Loan Accounts were originated, and shall not be
subject to the terms of this Agreement. 

  

	 	(d)	This Agreement shall not operate so as to render invalid or improper any action heretofore taken under the Existing Program Agreement. 

 

	2.	Marketing of the Program and Loan Accounts. At its own cost, Company shall promote and otherwise market the Program and the Loan Accounts. In performing such promotion and other marketing services, Company may
use any form of media, provided that Company shall discontinue the use of any specific form of media or media channel if directed to do so by Bank. Bank agrees that Company may refer to Bank and the Program in promotional and marketing materials,
including marketing scripts, upon the condition that any references to Bank and/or the Program in any such materials (and any changes in such materials) must receive the prior written approval of Bank. Bank may require a change in such materials
upon written notice provided to 

	

  
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Company to the extent that such change is required by Applicable Laws, or to the extent that Bank determines such change is necessitated by safety and soundness concerns based upon standards
established by a Regulatory Authority. Company shall ensure that all promotional and marketing materials shall be accurate and not misleading in all material respects. Company shall ensure that all promotional and marketing materials and strategies
comply with Applicable Laws. The Parties will prepare a style guide to set forth rules regarding the usage of Bank’s name and the Program description and other matters that, when used by Company, shall be deemed to be approved by Bank; such
style guide may be changed from time to time by Bank upon written notice to Company. The Parties also shall cooperate to develop and document a mutually agreed upon process for review of promotional and marketing materials, provided, however, that
the failure of Bank to adhere to such process shall not be considered a breach of this Agreement. 

  

	3.	Extension of Credit. Company acknowledges that approval of an Application creates a creditor-borrower relationship between Bank and Borrower which involves, among other things, the disbursement of Loan Proceeds.
Nothing in this Agreement shall obligate Bank to extend credit to an Applicant or disburse Loan Proceeds if Bank determines that doing so would be an unsafe or unsound banking practice. Bank shall use reasonable commercial efforts to provide Company
prior notice of a decision not to extend credit to an Applicant or disburse Loan Proceeds in reliance on the preceding sentence and, in all instances where Bank does not provide such prior notice, Bank shall provide Company prompt notice after
making a decision not to extend credit to an Applicant or disburse Loan Proceeds in reliance on the preceding sentence. 

  

	4.	Finance Documents and Credit Policy. The following documents, terms and procedures (“Finance Materials”) that have been approved by Bank and that will be used by Bank initially with respect to the Loan
Accounts are attached to this Agreement: (i) the Program description as Exhibit A; (ii) Credit Policy as Exhibit B; (iii) form of Application, including disclosures required by Applicable Laws, as
Exhibit C; and (iv) form of Loan Account Agreement, privacy policy and privacy notices, and all other Applicant and Borrower communications as Exhibit D. The Finance Materials shall not be changed without the
prior written consent of both Parties, which consent shall not be unreasonably withheld or delayed; provided, however, that Bank may change the Finance Materials upon written notice provided to Company but without Company’s prior written
consent, to the extent that such change is required by Applicable Laws or necessitated by safety and soundness concerns. Changes to the Finance Materials that are adopted pursuant to the prior sentence do not require changing the Exhibits to this
Agreement. Multiple versions of the Finance Materials may be in effect at the same time, for example in order to apply to different types of Loan Accounts (e.g., consumer-purpose and business-purpose). The Parties acknowledge that each Loan
Account Agreement and all other documents referring to the creditor for the Program shall identify Bank as the creditor for the Loan Accounts. Company shall ensure that the Finance Materials comply with Applicable Laws. 

 

	5.	Loan Account Processing and Origination. 

  

	 	(a)	Company shall solicit Applications from Applicants and shall process such Applications on behalf of Bank (including retrieving credit reports) to determine whether the Applicant meets the eligibility criteria set forth
in a Credit Policy and Bank’s “Know Your Customer” and anti-money laundering criteria (collectively, the “Bank Secrecy Act Policy”), which is attached hereto as Exhibit E, and which may be updated by Bank from
time to time and such updates shall be effective upon notice to Company as set forth herein. Company shall respond to all inquiries from Applicants regarding the application process. 

  
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	 	(b)	Company shall forward to Bank mutually agreed information including name, address, social security number or taxpayer identification number, and date of birth (if applicable) regarding Applicants who meet the
eligibility criteria set forth in a Credit Policy. Company shall have no discretion to override a Credit Policy with respect to any Applications. 

  

	 	(c)	Subject to the terms of this Agreement, Bank shall establish Loan Accounts with respect to Applicants who meet the eligibility criteria set forth in a Credit Policy. 

 

	 	(d)	Pursuant to procedures mutually agreed to by the Parties, Company shall deliver adverse action notices to Applicants who do not meet Credit Policy criteria or are otherwise denied by Bank. 

 

	 	(e)	Company shall deliver Program privacy notices and Loan Account Agreements to Borrowers. 

  

	 	(f)	Company shall hold and maintain, as custodian for Bank, all documents of Bank pertaining to Loan Accounts. Company shall periodically provide to Bank copies of records required to be maintained under the Bank Secrecy
Act Policy and such other documents regarding Loan Accounts as requested by Bank, at intervals mutually agreed to by the Parties, but no less frequently than monthly. 

 

	 	(g)	Company shall perform the obligations described in this Section 5 and deliver any customer communications to Applicants and Borrowers as necessary to carry on the Program, all at Company’s own cost and in
accordance with Applicable Laws. 

  

	 	(h)	Company shall service the Loan Accounts during the period that the Loan Accounts are owned by Bank, in compliance with Applicable Laws and in accordance with banking industry standards customary for loans and notes of
the same general type and character. 

  

	 	(i)	Pursuant to Section 16, as Bank reasonably requires and upon reasonable advance written notice to Company, Bank will periodically audit Company for compliance with the terms of this Section 5 and the Agreement
as a whole, including compliance with the standards set forth herein for Loan Account origination. 

  

	6.	Funding Loans. 

  

	 	(a)	Company shall provide a Funding Statement to Bank by e-mail or as otherwise mutually agreed by the Parties by 1:00 PM Mountain Time on each Funding Date. Each Funding Statement shall (i) identify those Applicants
whose Applications satisfy the requirements of a Credit Policy and with respect to whom Company requests that Bank establish Loan Accounts, and (ii) provide the Funding Amount to be disbursed by Bank on such Funding Date, including instructions
for the disbursement of Loan Proceeds to each Borrower. The Funding Statement shall be in the form of Exhibit F. 

  

	 	(b)	Subject to timely receipt of the Funding Statement, including receipt from Company of instructions for the disbursement of Loan Proceeds to each Borrower, Bank shall initiate the disbursement of Loan Proceeds to
Borrowers in accordance with the procedures determined by the Parties, by no later than 3:00 PM Mountain Time on each Funding Date. 

  
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	 	(c)	Subject to timely receipt of the Funding Statement, Bank shall transfer by wire transfer, or initiate a transfer by ACH, to an account designated by Company by no later than 3:00 PM Mountain Time on each Funding Date
the aggregate amount of Loan Origination Fees set forth on the Funding Statement. 

  

	 	(d)	To the extent that the aggregate principal balance of Loan Accounts held by Bank (or its Affiliates) would exceed the Program Threshold Amount following the funding of any Loan Account, Bank may elect not to fund such
Loan Account. Company may request an increase in the Program Threshold Amount at any time by providing written notice to Bank, specifying the increased Program Threshold Amount requested and accompanied by information supporting Company’s
conclusion that the proposed increased Program Threshold Amount is reasonably necessary to support the expected growth in Program volume. Bank shall approve or reject any such request within ten (10) Business Days, and shall use reasonable best
efforts to provide its approval or rejection more quickly. 

  

	 	(e)	The obligations of Bank to disburse Loan Proceeds, as provided in Section 6(b), and to transfer Loan Origination Fees, as provided in Section 6(c), are subject to the satisfaction of the following conditions
precedent immediately prior to each disbursement of Loan Proceeds by Bank: 

  

	 	(1)	the representations and warranties of Company set forth in the Program Documents shall be true and correct in all material respects at the time of or prior to each disbursement of Loan Proceeds by Bank as though made as
of the time Bank disburses such Loan Proceeds; and 

  

	 	(2)	the obligations of Company set forth in the Program Documents to be performed prior to each disbursement of Loan Proceeds by Bank shall have been performed prior to each such disbursement. 

 

	7.	Representations and Warranties. 

  

	 	(a)	Bank hereby represents and warrants, as of the Effective Date, or covenants, as applicable, to Company that: 

  

	 	(1)	Bank is an FDIC-insured Utah-chartered industrial bank, duly organized, validly existing under the laws of the State of Utah and has full corporate power and authority to execute, deliver, and perform its obligations
under this Agreement; the execution, delivery and performance of this Agreement have been duly authorized, and are not in conflict with and do not violate the terms of the charter or bylaws of Bank and will not result in a material breach of or
constitute a default under, or require any consent under, any indenture, loan or agreement to which Bank is a party; 

  

	 	(2)	All approvals, authorizations, licenses, registrations, consents, and other actions by, notices to, and filings with, any Person that may be required in connection with the execution, delivery, and performance of this
Agreement by Bank, have been obtained; 

  

	 	(3)	 This Agreement constitutes a legal, valid, and binding obligation of Bank, enforceable against Bank in accordance with its terms, except (i) as
such 

  
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enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws now or hereafter in effect, including the
rights and obligations of receivers and conservators under 12 U.S.C. §§ 1821 (d) and (e), which may affect the enforcement of creditors’ rights in general, and (ii) as such enforceability may be limited by general principles
of equity (whether considered in a suit at law or in equity); 

  

	 	(4)	There are no proceedings or investigations pending or, to the best knowledge of Bank, threatened against Bank (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of
the transactions contemplated by Bank pursuant to this Agreement, (iii) seeking any determination or ruling that, in the reasonable judgment of Bank, would materially and adversely affect the performance by Bank of its obligations under this
Agreement, (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement or (v) would have a materially adverse financial effect on Bank or its operations if resolved
adversely to it; provided, however, that Bank makes no representation or warranty regarding the examination of Bank by the FDIC or the Utah Department of Financial Institutions, or any actions resulting from such examination; 

 

	 	(5)	Bank is not Insolvent; 

  

	 	(6)	The execution, delivery and performance of this Agreement by Bank comply with Utah and federal banking laws specifically applicable to Bank’s operations; provided that, except as expressly set forth herein, Bank
makes no representation or warranty regarding compliance with Utah or federal banking laws relating to consumer or other borrower protection, consumer or business lending, usury, loan collection, anti-money laundering, data security or privacy;

  

	 	(7)	To the extent that Bank receives non-public personally identifiable information from the Company or the Borrower, Bank will comply with all Applicable Laws related to the protection and retention of such information;
and 

  

	 	(8)	The Proprietary Materials Bank licenses to Company pursuant to Section 12, and their use as contemplated by this Agreement, do not violate or infringe upon, or constitute an infringement or misappropriation of, any
U.S. patent, copyright or U.S. trademark, service mark, trade name or trade secret of any person or entity and Bank has the right to grant the licenses set forth in Section 12 below. 

 

	 	(b)	Company hereby represents and warrants, as of the Effective Date, or covenants, as applicable, to Bank that: 

  

	 	(1)	Company is a corporation, duly organized and validly existing in good standing under the laws of the State of Delaware, and has full power and authority to execute, deliver, and perform its obligations under this
Agreement; the execution, delivery, and performance of this Agreement have been duly authorized, and are not in conflict with and do not violate the terms of the articles or bylaws of Company and will not result in a material breach of or constitute
a default under or require any consent under any indenture, loan, or agreement to which Company is a party; 

  
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	 	(2)	All approvals, authorizations, consents, and other actions by, notices to, and filings with any Person required to be obtained for the execution, delivery, and performance of this Agreement by Company, have been
obtained; 

  

	 	(3)	This Agreement constitutes a legal, valid, and binding obligation of Company, enforceable against Company in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, or other similar laws now or hereafter in effect, which may affect the enforcement of creditors’ rights in general, and (ii) as such enforceability may be limited by general principles of equity
(whether considered in a suit at law or in equity); 

  

	 	(4)	There are no proceedings or investigations pending or, to the best knowledge of Company, threatened against Company (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of
any of the transactions contemplated by Company pursuant to this Agreement, (iii) seeking any determination or ruling that, in the reasonable judgment of Company, would materially and adversely affect the performance by Company of its
obligations under this Agreement, (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement, or (v) that would have a materially adverse financial effect on Company
or its operations if resolved adversely to it; 

  

	 	(5)	Company is not Insolvent; 

  

	 	(6)	The execution, delivery and performance of this Agreement by Company, the Finance Materials and the promotional and marketing materials and strategies shall all comply with Applicable Laws; 

 

	 	(7)	The Proprietary Materials Company licenses to Bank pursuant to Section 12, and their use as contemplated by this Agreement, do not violate or infringe upon, or constitute an infringement or misappropriation of, any
U.S. patent, copyright or U.S. trademark, service mark, trade name or trade secret of any person or entity and Company has the right to grant the license set forth in Section 12 below; and 

 

	 	(8)	Company shall comply with Title V of the Gramm-Leach-Bliley Act and the implementing regulations of the FDIC, including but not limited to applicable limits on the use, disclosure, storage, safeguarding and destruction
of Applicant information, and shall maintain data security and disaster recovery protections that at the least are consistent with industry standards for the consumer lending industry. 

 

	 	(c)	Company hereby represents and warrants to Bank as of each Funding Date that: 

  

	 	(1)	 For each Loan Account and each disbursement of Loan Proceeds: (i) to the best of Company’s knowledge, all information in the related
Application is true and correct; (ii) the Loan Account is fully enforceable and all required disclosures to Borrowers have been delivered in compliance with Applicable Laws; (iii) the

  
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Loan Account Agreement and all other Loan Account documents are genuine and legally binding and enforceable, conform to the requirements of the Program and were prepared in conformity with the
Program Compliance Manual; (iv) all necessary approvals required to be obtained by Company have been obtained; and (v) nothing exists as to the Company or its business that would prohibit the purchase of the Loan Accounts by Company from
Bank; 

  

	 	(2)	Each Borrower listed on a Funding Statement is eligible for a Loan Account under a Credit Policy, as in effect from time to time; and each Borrower has submitted an electronically executed Application; and

  

	 	(3)	The information on each Funding Statement is true and correct in all respects. 

  

	 	(d)	The representations and warranties of Bank and Company contained in this Section 7, except those representations and warranties contained in subsections 7(a)(4) and 7(b)(4), are made continuously throughout the
term of this Agreement. In the event that any investigation or proceeding of the nature described in subsections 7(a)(4) and 7(b)(4) is instituted or threatened against either Party, such Party shall promptly notify the other Party of the pending or
threatened investigation or proceeding (unless prohibited from doing so by Applicable Laws or the direction of a Regulatory Authority). 

  

	8.	Other Relationships with Borrowers. 

  

	 	(a)	Separate from the obligation to market Loan Accounts offered by Bank, and subject to the Program privacy policy and Applicable Laws, Company shall have the right, at its own expense, to solicit Applicants and/or
Borrowers with offerings of any goods and services from Company and parties other than Bank, provided, however, that in the event that Company uses Bank’s name and/or Proprietary Materials in connection with such offerings, Company shall obtain
Bank’s prior approval for such use. 

  

	 	(b)	Except as necessary to carry out its rights and responsibilities under this Agreement and the Loan Sale Agreement, Bank shall not use Applicant and/or Borrower information and shall not provide or disclose any Applicant
and/or Borrower information to any Person, except to the extent required to do so under Applicable Laws or legal process. 

  

	 	(c)	Notwithstanding subsection 8(b), (i) Bank may make solicitations for goods and services to the public, which may include one or more Applicants or Borrowers; provided that Bank does not (A) target such
solicitations to specific Applicants and/or Borrowers, (B) use or permit a third party to use any list of Applicants and/or Borrowers in connection with such solicitations or (C) refer to or otherwise use the name of Company; and
(ii) Bank shall not be obligated to redact the names of Applicants and/or Borrowers from marketing lists acquired from third parties (e.g., subscription lists) that Bank uses for solicitations. 

 

	 	(d)	The terms of this Section 8 shall survive the expiration or earlier termination of this Agreement. 

  
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	9.	Indemnification. 

  

	 	(a)	Company agrees to defend, indemnify, and hold harmless Bank and its Affiliates, and the officers, directors, employees, representatives, shareholders, agents and attorneys of such entities (the “Indemnified
Parties”) from and against any and all claims, actions, liability, judgments, damages, costs and expenses, including reasonable attorneys’ fees (“Losses”) to the extent arising from Bank’s participation in the Program and
the Prior Programs as contemplated by the Program Documents and the Prior Program Documents (including Losses arising from a violation of Applicable Laws or a breach by Company or its agents or representatives of any of Company’s
representations, warranties, obligations or undertakings under the Program Documents and the Prior Program Documents). Notwithstanding the foregoing, Company shall not be obligated to indemnify any Indemnified Parties to the extent that the Losses
arise from the gross negligence or willful misconduct of Bank, or its officers, directors, employees or agents (other than Company and its agents). 

  

	 	(b)	To the extent permitted by Applicable Laws, any Indemnified Party seeking indemnification hereunder shall promptly notify Company, in writing, of any notice of the assertion by any third party of any claim or of the
commencement by any third party of any legal or regulatory proceeding, arbitration or action, or if the Indemnified Party determines the existence of any such claim or the commencement by any third party of any such legal or regulatory proceeding,
arbitration or action, whether or not the same shall have been asserted or initiated, in any case with respect to which Company is or may be obligated to provide indemnification (an “Indemnifiable Claim”), specifying in reasonable detail
the nature of the claim and, if known, the amount or an estimate of the amount of the Loss; provided, that failure to promptly give such notice shall only limit the liability of Company to the extent of the actual prejudice, if any, suffered by
Company as a result of such failure. The Indemnified Party shall provide to Company as promptly as practicable thereafter information and documentation reasonably requested by Company to defend against the Indemnifiable Claim. 

 

	 	(c)	Company shall have ten (10) days after receipt of any notification of an Indemnifiable Claim (a “Claim Notice”) to notify the Indemnified Party in writing of Company’s election to assume the defense
of the Indemnifiable Claim and, through counsel of the Company’s own choosing, and at its own expense, to commence the settlement or defense thereof, and the Indemnified Party shall cooperate with Company in connection therewith if such
cooperation is so requested and the request is reasonable; provided that Company shall hold the Indemnified Party harmless from all its reasonable out-of-pocket expenses, including reasonable attorneys’ fees, incurred in connection with the
Indemnified Party’s cooperation; provided, further, that if the Indemnifiable Claim relates to a matter before a Regulatory Authority, the Indemnified Party may elect, upon written notice to Company (the “Assumption Notice”), to
assume the defense of the Indemnifiable Claim at the cost of and with the cooperation of Company. If the Company assumes responsibility for the settlement or defense of any such claim, (i) Company shall permit the Indemnified Party to
participate at the Indemnified Party’s expense (for which no claim of Losses shall be made) in such settlement or defense through counsel chosen by the Indemnified Party; provided that, in the event that both Company and the Indemnified Party
are defendants in the proceeding and the Indemnified Party has reasonably determined and notified Company that representation of both parties by the same counsel would be inappropriate due to the actual or potential differing interests between them,
then the reasonable fees and expenses of one such counsel for all Indemnified Parties in the aggregate shall be borne by Company; and (ii) Company shall not settle any Indemnifiable Claim without the Indemnified Party’s consent.

  
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	 	(d)	If the Company does not notify the Indemnified Party in writing within ten (10) days after receipt of the Claim Notice that it elects to undertake the defense of the Indemnifiable Claim described therein, or if
Company fails to contest vigorously any such Indemnifiable Claim, or if the Indemnified Party elects to control the defense of an Indemnifiable Claim before a Regulatory Authority as permitted by Section 9(c), then, in each case, the
Indemnified Party shall have the right, upon reasonable written notice to the Company, to contest, settle or compromise the Indemnifiable Claim in the exercise of its reasonable discretion; provided that the Indemnified Party shall notify Company in
writing prior thereto of any compromise or settlement of any such Indemnifiable Claim. No action taken by the Indemnified Party pursuant to this paragraph (d) shall deprive the Indemnified Party of its rights to indemnification pursuant to this
Section 9. 

  

	 	(e)	All amounts due under this Section 9 shall be payable not later than ten (10) days after receipt of the written demand therefor. 

 

	 	(f)	The terms of this Section 9 shall survive the expiration or earlier termination of this Agreement. 

  

	10.	Term and Termination. 

  

	 	(a)	This Agreement shall have an initial term beginning on the Effective Date and ending on November 8, 2018 (the “Initial Term”) and shall renew automatically for two (2) successive terms of one
(1) year each (each a “Renewal Term,” collectively, the Initial Term and Renewal Term(s) shall be referred to as the “Term”), unless either Party provides notice of non-renewal to the other Party at least one hundred eighty
(180) days prior to the end of the Initial Term or any Renewal Term or this Agreement is earlier terminated in accordance with the provisions hereof. 

  

	 	(b)	This Agreement shall terminate immediately upon the expiration or earlier termination of the Loan Sale Agreement. 

  

	 	(c)	Bank shall have the right to terminate this Agreement immediately upon written notice to Company if: 

  

	 	(1)	based upon the opinion of counsel, Bank’s continued participation in the Program would be in violation of Applicable Law or has been prohibited pursuant to an order or other action, including any letter or
directive of any kind, by a Regulatory Authority; 

  

	 	(2)	a Regulatory Authority with jurisdiction over Bank has provided, formally or informally, concerns about the Program and Bank determines, in its sole discretion, and based upon the opinion of counsel, that its rights and
remedies under this Agreement are not sufficient to protect Bank fully against the potential consequences of such concerns; 

  

	 	(3)	a fine or penalty has been assessed against Bank by a Regulatory Authority in connection with the Program, including as a result of a consent order or stipulated judgment; 

  
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	 	(4)	Company defaults on its obligation to make a payment to Bank as provided in Section 2 of the Loan Sale Agreement and fails to cure such default within one (1) Business Day of receiving notice of such default
from Bank; (ii) if Company defaults on its obligation to make a payment to Bank as provided in Schedule 2 of the Loan Sale Agreement more than once in any three (3) month period; or (iii) if Company fails to maintain the Required
Balance in the Collateral Account as required by Schedule 31 of the Loan Sale Agreement; or 

  

	 	(5)	there is a Change of Control of Company and the Bank exercises its termination right pursuant to this clause (5) not later than forty-five (45) days following receipt of the Company’s notice of such
Change of Control of Company. 

  

	 	(d)	A Party shall have a right to terminate this Agreement immediately upon written notice to the other Party in any of the following circumstances: 

 

	 	(1)	any representation or warranty made by the other Party in this Agreement shall be incorrect in any material respect and shall not have been corrected within thirty (30) Business Days after written notice thereof
has been given to such other Party; 

  

	 	(2)	the other Party shall default in the performance of any obligation or undertaking under this Agreement and such default shall continue for thirty (30) Business Days after written notice thereof has been given to
such other Party; 

  

	 	(3)	the other Party shall commence a voluntary case or other proceeding seeking liquidation, reorganization, or other relief with respect to itself or its debts under any bankruptcy, insolvency, receivership,
conservatorship or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, conservator, custodian, or other similar official of it or any substantial part of its property, or shall consent to any
such relief or to the appointment of a trustee, receiver, liquidator, conservator, custodian, or other similar official or to any involuntary case or other similar proceeding commenced against it, or shall make a general assignment for the benefit
of creditors, or shall fail generally to pay its debts as they become due, or shall take any corporate action to authorize any of the foregoing; 

  

	 	(4)	an involuntary case or other proceeding, whether pursuant to banking regulations or otherwise, shall be commenced against the other Party seeking liquidation, reorganization, or other relief with respect to it or its
debts under any bankruptcy, insolvency, receivership, conservatorship or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, conservator, custodian, or other similar official of it or any
substantial part of its property; or an order for relief shall be entered against either Party under the federal bankruptcy laws as now or hereafter in effect; or 

 

	 	(5)	there is a materially adverse change in the financial condition of the other Party. 

  
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	 	(e)	Upon termination of the Agreement by Company pursuant to Section 10(d), at the written request of Company, Bank shall continue to operate the Program for up to one hundred and eighty (180) days following
receipt of Company’s written notice of termination, so long as both Parties continue to perform their respective obligations under the Program during the period contemplated in this Section 10(e). At the conclusion of such period, Company
shall purchase all Loan Accounts established by Bank through such date that have not already been purchased by Company. 

  

	 	(f)	Except as provided in Section 10(e), Bank shall not be obligated to approve Applications or establish new Loan Accounts after termination of this Agreement. 

 

	 	(g)	The termination of this Agreement either in part or in whole shall not discharge any Party from any obligation incurred prior to such termination. 

 

	 	(h)	Except as provided in Section 10(e), upon termination of this Agreement, Company shall purchase all Loan Accounts established by Bank prior to and on the date of termination that have not already been purchased by
Company. 

  

	 	(i)	Bank’s obligation to operate the Program and establish Loan Accounts subsequent to a notice of termination or termination of this Agreement shall in all cases be subject to Applicable Law and/or regulatory
requirements. 

  

	 	(j)	Company’s failure to obtain the approval of Bank as required by Sections 2, 4 or 30, and Company’s failure to provide any notice required by Section 32, shall each constitute a material breach of this
Agreement. In addition to any other remedies permitted by Applicable Law or this Agreement and without limiting Bank’s rights under Section 9, Bank may also invoice Company for, and Company agrees to pay, liquidated damages in the amount
of (i) *** for the first such failure of Company to obtain approval or provide notice, or (ii) *** for each subsequent failure of Company to obtain approval or provide notice. The Parties agree that it would be difficult to determine the
precise damages to Bank in the event of such a breach by Company, and the Parties have therefore agreed on the foregoing liquidated damages as a reasonable approximation of the damages to Bank in the event of such a breach. 

 

	 	(k)	Bank may terminate this Agreement immediately upon written notice to Company if Bank incurs any Loss that would have been subject to indemnification under Section 9(a) but for the application of Applicable Laws
that limit or restrict Bank’s ability to seek such indemnification. 

  

	 	(l)	In addition to any other rights or remedies available to the Bank under this Agreement or by law, Bank shall have the right to suspend performance of its obligations under this Agreement, including, but not limited to,
Bank’s payments of the Funding Amounts (as required under Section 6 of this Agreement) during the period commencing with the occurrence of any monetary default by Company, including but not limited to the failure to purchase any Loan
Accounts under the Loan Sale Agreement, and ending when such condition has been cured. Notwithstanding such suspension right, Bank may terminate this Agreement as provided in Section 10(c). 

 

	 	(m)	The terms of this Section 10 shall survive the expiration or earlier termination of this Agreement. 

  
 11 

 Privileged & Confidential 

 
  

	11.	Confidentiality. 

  

	 	(a)	Each Party agrees that Confidential Information of the other Party shall be used by such Party solely in the performance of its obligations and exercise of its rights pursuant to the Program Documents. Except as
required by Applicable Laws or legal process, neither Party (the “Restricted Party”) shall disclose Confidential Information of the other Party to third parties; provided, however, that the Restricted Party may disclose Confidential
Information of the other Party (i) to the Restricted Party’s Affiliates, agents, representatives or subcontractors for the sole purpose of fulfilling the Restricted Party’s obligations under this Agreement (as long as the Restricted
Party exercises reasonable efforts to prohibit any further disclosure by its Affiliates, agents, representatives or subcontractors), provided that in all events, the Restricted Party shall be responsible for any breach of the confidentiality
obligations hereunder by any of its Affiliates, agents, representatives or subcontractors, (ii) to the Restricted Party’s auditors, accountants and other professional advisors, or to a Regulatory Authority or (iii) to any other third
party as mutually agreed by the Parties. 

  

	 	(b)	A Party’s Confidential Information shall not include information that: 

  

	 	(1)	is generally available to the public; 

  

	 	(2)	has become publicly known, without fault on the part of the Party who now seeks to disclose such information (the “Disclosing Party”), subsequent to the Disclosing Party acquiring the information;

  

	 	(3)	was otherwise known by, or available to, the Disclosing Party prior to entering into this Agreement; or 

  

	 	(4)	becomes available to the Disclosing Party on a non-confidential basis from a Person, other than a Party to this Agreement, who is not known by the Disclosing Party after reasonable inquiry to be bound by a
confidentiality agreement with the non-Disclosing Party or otherwise prohibited from transmitting the information to the Disclosing Party. 

  

	 	(c)	Upon written request or upon the termination of this Agreement, each Party shall, within thirty (30) days, return to the other Party all Confidential Information of the other Party in its possession that is in
written form, including by way of example, but not limited to, reports, plans, and manuals; provided, however, that either Party may maintain in its possession all such Confidential Information of the other Party required to be maintained under
Applicable Laws relating to the retention of records for the period of time required thereunder. 

  

	 	(d)	 In the event that a Restricted Party is requested or required (by oral questions, interrogatories, requests for information or documents, subpoena,
civil investigative demand or similar process) to disclose any Confidential Information of the other Party, the Restricted Party will provide the other Party with prompt notice of such request(s) so that the other Party may seek an appropriate
protective order or other appropriate remedy and/or waive the Restricted Party’s compliance with the provisions of this Agreement. In the event that the other Party does not seek such a protective order or other remedy, or such protective order
or other remedy is not obtained, or the other Party grants a waiver 

  
 12 

 Privileged & Confidential 

 

	 	
hereunder, the Restricted Party may furnish that portion (and only that portion) of the Confidential Information of the other Party which the Restricted Party is legally compelled to disclose and
will exercise such efforts to obtain reasonable assurance that confidential treatment will be accorded any Confidential Information of the other Party so furnished as the Restricted Party would exercise in assuring the confidentiality of any of its
own Confidential Information. 

  

	 	(e)	The terms of this Section 11 shall survive the expiration or earlier termination of this Agreement. 

  

	12.	Proprietary Material. Each Party (“Licensing Party”) hereby provides the other Party (“Licensee”) with a non-exclusive right and license to use and reproduce the Licensing Party’s name,
logo, registered trademarks and service marks (“Proprietary Material”) on the Applications, Loan Account Agreements, marketing materials, and otherwise in connection with the fulfillment of Licensee’s obligations under this Agreement;
provided, however, that (i) the Licensee shall at all times comply with written instructions provided by the Licensing Party regarding the use of the Licensing Party’s Proprietary Material, and (ii) Licensee acknowledges that, except
as specifically provided in this Agreement, it will acquire no interest in the Licensing Party’s Proprietary Material. Upon termination of this Agreement, Licensee will cease using Licensing Party’s Proprietary Material. 

 

	13.	Relationship of Parties. The Parties agree that in performing their responsibilities pursuant to this Agreement, they are in the position of independent contractors. This Agreement is not intended to create, nor
does it create and shall not be construed to create, a relationship of partner or joint venturer or any association for profit between Bank and Company. 

  

	14.	Expenses. 

  

	 	(a)	Except as set forth herein, each Party shall bear the costs and expenses of performing its obligations under this Agreement. 

  

	 	(b)	Company shall pay all wire transfer and ACH costs for transfers by Bank under the Program. Company shall reimburse Bank for all reasonable third party fees incurred by Bank in connection with the performance of this
Agreement. 

  

	 	(c)	Company shall pay all costs of obtaining credit reports and delivering adverse action notices. 

  

	 	(d)	Each Party shall be responsible for payment of any federal, state, or local taxes or assessments associated with the performance of its obligations under this Agreement and for compliance with all filing, registration
and other requirements with regard thereto. 

  

	 	(e)	 Company shall be responsible for (i) all of Bank’s reasonable out-of-pocket legal fees directly related to the Program, including
Bank’s attorneys’ fees and expenses in connection with the preparation, negotiation, execution, and delivery of the Program Documents; any amendment, modification, administration, collection and enforcement of the Program Documents; any
modification of the Finance Materials or other documents or disclosures related to the Program; or any dispute or litigation arising out of or related to the Program; and (ii) all of Bank’s reasonable out-of-pocket costs and expenses for
any other third-party professional services related to the Program, including the services 

  
 13 

 Privileged & Confidential 

 

	 	
of any third-party compliance specialists in connection with Bank’s preparation of policies and procedures and Bank’s review of the Program. To the extent that such fees are expected to
exceed *** in a calendar quarter, Bank will provide email notification to the extent reasonably practicable. Company shall also pay for an annual compliance audit of the Program, and such other audits as may be requested by Bank from time to time in
its reasonable discretion, in each case to be conducted by a third-party audit firm that is selected by and reports to Bank. Bank shall invoice Company for such fees. Company shall pay such invoice within thirty (30) days of receipt of such
invoice. 

  

	 	(f)	Company shall reimburse Bank for all reasonable costs associated with Bank’s assignment to Company of Loan Accounts pursuant to Section 10. 

 

	 	(g)	All fees payable pursuant to this Section 14 may be paid by wire, ACH, or check, as determined by the Company, but shall be paid pursuant to the terms of the Bank’s invoice. Bank may assess a service charge of
1.5% per month on any amounts due under this Agreement that are thirty (30) days past due. 

  

	 	(h)	Upon approval by Bank of a credit policy for Lending Club Access Loan Accounts, Company shall pay to Bank a fee of ***. 

  

	15.	Examination. Each Party agrees to submit to any examination that may be required by a Regulatory Authority having jurisdiction over the other Party, during regular business hours and upon reasonable prior notice,
and to otherwise provide reasonable cooperation to the other Party in responding to such Regulatory Authority’s inquiries and requests relating to the Program. 

 

	16.	Inspection; Reports. Each Party, upon reasonable prior notice from the other Party, agrees to submit to an inspection of its books, records, accounts, and facilities relevant to the Program, from time to time,
during regular business hours subject, in the case of Bank, to the duty of confidentiality it owes to its customers and banking secrecy and confidentiality requirements otherwise applicable under Applicable Laws. All expenses of inspection shall be
borne by the Party conducting the inspection. Notwithstanding the obligation of each Party to bear its own expenses of inspection, Company shall reimburse Bank for reasonable out of pocket expenses incurred by Bank in the performance of periodic on
site reviews of Company’s financial condition, operations and internal controls. Company shall store all documentation and electronic data related to its performance under this Agreement and shall make such documentation and data available
during any inspection by Bank or its designee. With such frequency and in such manner as mutually agreed by the Parties, Company shall report to Bank regarding the performance of its obligations. 

 

	17.	Governing Law; Waiver of Jury Trial. This Agreement shall be interpreted and construed in accordance with the laws of the State of Utah, without giving effect to the rules, policies, or principles thereof with
respect to conflicts of laws. THE PARTIES HEREBY EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING HEREUNDER. The terms of this Section 17 shall survive the expiration or earlier termination of
this Agreement. 

  

	18.	Severability. Any provision of this Agreement which is deemed invalid, illegal or unenforceable in any jurisdiction, shall, as to that jurisdiction, be ineffective to the extent of such invalidity, illegality or
unenforceability, without affecting in any way the remaining portions hereof in such jurisdiction or rendering such provision or any other provision of this Agreement invalid, illegal, or unenforceable in any other jurisdiction. 

  
 14 

 Privileged & Confidential 

 
  

	19.	Assignment. This Agreement and the rights and obligations created under it shall be binding upon and inure solely to the benefit of the Parties and their respective successors, and permitted assigns. Neither
Party shall be entitled to assign or transfer any interest under this Agreement without the prior written consent of the other Party. No assignment under this section shall relieve a Party of its obligations under this Agreement. Company may use
subcontractors in the performance of its obligations under this Agreement, subject to Bank’s prior written approval of each such subcontractor; Bank may request the right to review and approve the contract between Company and any subcontractor.
A list of approved subcontractors is attached in the form of Exhibit G hereto. Company agrees to be fully responsible for the acts and omissions of all subcontractors, including the subcontractors’ compliance with the terms of
this Agreement and all Applicable Laws. Upon request by Bank, Company shall (a) cause a subcontractor to submit to an audit or examination by Bank or a Regulatory Authority having jurisdiction over Bank, and (b) terminate or suspend a
subcontractor. 

  

	20.	Third Party Beneficiaries. Nothing contained herein shall be construed as creating a third-party beneficiary relationship between either Party and any other Person. 

 

	21.	Notices. All notices and other communications that are required or may be given in connection with this Agreement shall be in writing and shall be deemed received (a) on the day delivered, if delivered by
hand; (b) on the day transmitted, if transmitted by facsimile or e-mail with receipt confirmed; or (c) three (3) business days after the date of mailing to the other Party, if mailed first-class postage prepaid, at the following
address, or such other address as either Party shall specify in a notice to the other: 

  

			
	 To Bank:
	  	 WebBank
 Attn: Senior Vice President –
Strategic Partners
 215 S. State Street, Suite 800
 Salt Lake
City, UT 84111
 Tel. (801) 456-8398
 Fax:
(801) 456-8398
 Email: strategicpartnerships@webbank.com

		
	 With a copy to:
	  	 WebBank
 Attn: Compliance Officer

215 S. State Street, Suite 800
 Salt Lake City, UT 84111

Tel. (801) 456-8397
 Fax: (801) 456-8397

Email: complianceofficer@webbank.com

  
 15 

 Privileged & Confidential 

 

			
		
	 To Company:
	  	 LendingClub Corporation
 71 Stevenson, Suite
300
 San Francisco, CA 94105
 Attn: Renaud Laplanche, Chief
Executive Officer
 E-mail Address: rlaplanche@lendingclub.com

Telephone: (415) 632-5667
 Facsimile:
(415) 632-5608

		
	 With a copy to:
	  	 LendingClub Corporation
 71 Stevenson, Suite
300
 San Francisco, CA 94105
 Attn: General Counsel

E-mail Address: jaltieri@lendingclub.com
 Telephone:
(415) 632-5666
 Facsimile: (415) 632-5608

  
  

	22.	Amendment and Waiver. This Agreement may be amended only by a written instrument signed by each of the Parties. The failure of a Party to require the performance of any term of this Agreement or the waiver by a
Party of any default under this Agreement shall not prevent a subsequent enforcement of such term and shall not be deemed a waiver of any subsequent breach. All waivers must be in writing and signed by the Party against whom the waiver is to be
enforced. 

  

	23.	Entire Agreement. The Program Documents, including exhibits, constitute the entire agreement between the Parties with respect to the subject matter hereof, and supersede any prior or contemporaneous negotiations
or oral or written agreements with regard to the same subject matter. 

  

	24.	Counterparts. This Agreement may be executed and delivered by the Parties in any number of counterparts, and by different parties on separate counterparts, each of which counterpart shall be deemed to be an
original and all of which counterparts, taken together, shall constitute but one and the same instrument. 

  

	25.	Interpretation. The Parties acknowledge that each Party and its counsel have reviewed and revised this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved
against the drafting party shall not be employed in the interpretation of this Agreement or any amendments thereto, and the same shall be construed neither for nor against either Party, but shall be given a reasonable interpretation in accordance
with the plain meaning of its terms and the intent of the Parties. 

  

	26.	 Agreement Subject to Applicable Laws. If (a) either Party has been advised by legal counsel of a change in Applicable Laws or any judicial
decision of a court having jurisdiction over such Party or any interpretation of a Regulatory Authority that, in the view of such legal counsel, would have a materially adverse effect on the rights or obligations of such Party under this Agreement
or the financial condition of such Party, (b) either Party receives a request of any Regulatory Authority having jurisdiction over such Party, including any letter or directive of any kind from any such Regulatory Authority, that prohibits or
restricts such Party from carrying out its obligations under this Agreement, or (c) either Party has been advised by legal counsel that there is a material risk that such Party’s or the other Party’s continued performance under this
Agreement would violate Applicable Laws, then the Parties shall meet and consider in good faith 

  
 16 

 Privileged & Confidential 

 

	 	
any modifications, changes or additions to the Program or the Program Documents that may be necessary to eliminate such result. Notwithstanding any other provision of the Program Documents,
including Section 10 hereof, if the Parties are unable to reach agreement regarding such modifications, changes or additions to the Program or the Program Documents within ten (10) Business Days after the Parties initially meet, either
Party may terminate this Agreement upon five (5) Business Days’ prior written notice to the other Party. A Party may suspend performance of its obligations under this Agreement, or require the other Party to suspend its performance of its
obligations under this Agreement, upon providing the other Party advance written notice, if any event described in subsections 26(a), (b) or (c) above occurs. 

 

	27.	Force Majeure. If any Party is unable to carry out the whole or any part of its obligations under this Agreement by reason of a Force Majeure Event, then the performance of the obligations under this Agreement of
such Party as they are affected by such cause shall be excused during the continuance of the inability so caused, except that should such inability not be remedied within thirty (30) days after the date of such cause, the Party not so affected
may at any time after the expiration of such thirty (30) day period, during the continuance of such inability, terminate this Agreement on giving written notice to the other Party and without payment of a termination fee or other penalty. To
the extent that the Party not affected by a Force Majeure Event is unable to carry out the whole or any part of its obligations under this Agreement because a prerequisite obligation of the Party so affected has not been performed, the Party not
affected by a Force Majeure Event also is excused from such performance during such period. A “Force Majeure Event” as used in this Agreement shall mean an unanticipated event that is not reasonably within the control of the affected Party
or its subcontractors (including, but not limited to, acts of God, acts of governmental authorities, strikes, war, riot and any other causes of such nature), and which by exercise of reasonable due diligence, such affected Party or its
subcontractors could not reasonably have been expected to avoid, overcome or obtain, or cause to be obtained, a commercially reasonable substitute therefore. No Party shall be relieved of its obligations hereunder if its failure of performance is
due to removable or remediable causes which such Party fails to remove or remedy using commercially reasonable efforts within a reasonable time period. Either Party rendered unable to fulfill any of its obligations under this Agreement by reason of
a Force Majeure Event shall give prompt notice of such fact to the other Party, followed by written confirmation of notice, and shall exercise due diligence to remove such inability with all reasonable dispatch. 

 

	28.	Jurisdiction; Venue. The Parties consent to the personal jurisdiction and venue of the federal and state courts in Salt Lake City, Utah for any court action or proceeding. The terms of this Section 28 shall
survive the expiration or earlier termination of this Agreement. 

  

	29.	Insurance. Company agrees to maintain insurance coverage on the terms and conditions specified in Exhibit H at all times during the term of this Agreement and to notify Bank promptly of any
cancellation or lapse of any such insurance coverage. 

  
 17 

 Privileged & Confidential 

 
  

	30.	Compliance with Applicable Laws; Program Compliance Manual. Company shall comply with Applicable Laws, the Bank Secrecy Act Policy and the Program Compliance Manual in its performance of this Agreement, including
Loan Account solicitation, Application processing and preparation of Loan Account Agreements and other Loan Account documents. The Program Compliance Manual shall not be changed without the prior written consent of both Parties, which consent shall
not be unreasonably withheld or delayed; provided, however, that Bank may change the Program Compliance Manual upon written notice provided to Company but without Company’s prior written consent, to the extent that such change is required by
Applicable Laws, or to the extent that Bank determines such change is necessitated by safety and soundness concerns. A copy of the Program Compliance Manual is attached hereto as Exhibit I. Without limiting the foregoing, Company
shall: 

  

	 	(a)	apply to all Applicants customer identification procedures that comply with Section 326 of the USA PATRIOT Act of 2001 (“Patriot Act”) and the implementing regulations applicable to Bank (31 C.F.R. §
103.121); 

  

	 	(b)	retain for five (5) years after a Loan Account is purchased from Bank, and deliver to Bank upon request: (i) the Applicant’s name, address, social security number or taxpayer identification number, and
date of birth (if applicable) obtained pursuant to such customer identification procedures; (ii) a description of the methods and the results of any measures undertaken to verify the identity of the Applicant; and (iii) a description of
the resolution of any substantive discrepancy discovered when verifying the identifying information obtained; 

  

	 	(c)	screen all Applicants against the Office of Foreign Assets Control list of Specially Designated Nationals and Blocked Persons, and reject any Applicant whose name and other identifiable data matches a name and such
other data on such list and notify Bank thereof; 

  

	 	(d)	monitor, identify and report to Bank any suspicious activity that meets the thresholds for submitting a Suspicious Activity Report under the Bank Secrecy Act and the implementing regulations applicable to Bank (31
C.F.R. § 103.18); 

  

	 	(e)	maintain an anti-money laundering program as to Borrowers to assist Bank in its compliance with Section 352 of the Patriot Act and the implementing regulations applicable to Bank (31 C.F.R. § 103.120);

  

	 	(f)	in addition to the information retained pursuant to subsection (b) above, retain the account number identifying a Borrower’s Loan Account for at least one (1) year after purchasing the Borrower’s
Loan Account from Bank; 

  

	 	(g)	upon receipt of a government information request forwarded by Bank to Company, (i) compare the names, addresses, and social security numbers or taxpayer identification numbers on such government list provided by
Bank with the names, addresses, and social security numbers or taxpayer identification numbers of Borrowers for all Loan Accounts purchased from Bank within the prior twelve (12) months, and (ii) within five (5) Business Days of
receipt of such an information request, deliver to Bank a certification of completion of such a records search, which shall indicate whether Company located a name, address, social security number, or taxpayer identification number match and, if so,
provide for any such match: the name of the Borrower, the account number identifying the Borrower’s Loan Account, and the Borrower’s social security number, taxpayer identification number, date of birth, address, or other similar
identifying information provided by the Borrower, to assist Bank in its compliance with Section 314(a) of the Patriot Act and the implementing regulations applicable to Bank (31 C.F.R. § 103.100); 

  
 18 

 Privileged & Confidential 

 
  

	 	(h)	provide to Bank electronic copies of the information retained pursuant to subsections (b) and (g) above as mutually agreed to by the Parties, no later than within five (5) days following receipt of the
request, or within a shorter period of time if required by a Regulatory Authority or Applicable Law; 

  

	 	(i)	(i) maintain policies and procedures (“Red Flags Policy”) to (1) detect relevant red flags that may arise in the performance of Company’s obligations, (2) take appropriate steps to address such
red flags and to prevent and mitigate the effect of identity theft, (3) report to Bank on such policies and procedures on a regular basis, and (4) otherwise assist Bank in complying with the provisions of § 605A of the Fair
Credit Reporting Act, 15 U.S.C. § 1681c-1, and applicable implementing regulations; (ii) identify a program administrator responsible for the Red Flags Policy; (iii) conduct annual training regarding the Red Flags Policy; and
(iv) provide a written report regarding the Red Flags Policy no less frequently than annually, by the date designated by the Bank, which report shall (1) address material matters related to the program, (2) evaluate issues such as the
effectiveness of the Red Flags Policy in addressing the risk of identity theft in connection with the opening of covered accounts and with respect to existing covered accounts, (3) identify service provider arrangements, (4) identify
significant incidents involving identity theft and management’s response, and (5) provide recommendations for material changes to the Red Flags Policy; 

  

	 	(j)	maintain a compliance management system (“CMS”) to provide an internal control process for the business functions and processes directed towards Applicants and Borrowers, including the activities of
significant subcontractors, the elements of which CMS shall include (i) an overall policy statement governing the CMS, (ii) specific procedures for approvals of additions or changes to the CMS, including a description of items subject to
the CMS, a process for internal review and approval by Company and its legal counsel, and a process for internal review and approval by Bank and its legal counsel, and (iii) documentation of Company’s testing process, including
testing/review of Company’s website and user acceptance testing (UAT); the scope of the CMS shall include, at a minimum, the Finance Materials, all policy changes, new products, advertisements, press releases, and the website(s) used in
connection with the Program; 

  

	 	(k)	maintain a compliance training program for its officers, directors, employees, and agents that is acceptable to Bank; as part of the program, Company shall, subject in each case to the approval of Bank,
(i) identify applicable Company officers, directors, employees, and agents and assign appropriate training courses to each and (ii) determine a schedule of each training course and when each applicable officer, director, employee, and
agent shall take each such course; Company shall provide reports to Bank regarding the compliance training program on a quarterly basis or, if requested by Bank, more frequently; 

 

	 	(l)	 designate a dedicated compliance officer for purposes of the Program, acceptable to Bank, who shall oversee reviews of Company’s compliance with
laws and regulations that may be applicable, including, to the extent applicable, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Fair Debt Collection Practices Act, the Truth-in-Lending Act and Regulation Z, the Federal Trade
Commission (FTC) Act, the Consumer Financial Protection Act, and laws 

  
 19 

 Privileged & Confidential 

 

	 	
prohibiting unfair, deceptive, or abusive acts or practices; and, in the event of the termination of the employment of the compliance officer, promptly employ a replacement compliance officer
acceptable to Bank; 

  

	 	(m)	cooperate with and bear the expenses of a compliance audit of the Program on an annual basis, and such other audits as may be requested by Bank from time to time in its reasonable discretion, in each case to be
conducted by a third-party audit firm that is selected by and reports to Bank; the scope of each audit shall be determined by Bank (considering in good faith input received by Company), and may include the activities of significant subcontractors;
Bank shall receive all draft and final reports of the audit firm and shall be included in any meetings or correspondence related to the audit; the auditor shall deliver the final audit report to Bank, and Bank shall provide a copy of the report to
Company; 

  

	 	(n)	provide to Bank, on an annual basis in writing, a report by the compliance officer of the results of all audits and reviews of the Program, and significant issues to be addressed (if any), as well as Company’s
resolutions of such issues (if applicable); and 

 Company will provide to Bank a certification letter, each quarter, that it
is complying with its obligations under this section. Bank will comply with any reporting requirements of the Utah Department of Financial Institutions or the FDIC applicable to Bank’s performance of this Agreement. The terms of subsections
(b), (f) and (g) of this section 30 shall survive the expiration or earlier termination of this Agreement until termination by their respective terms (if any). 
  

	31.	Prohibition on Tie-In Fees. Company shall not directly or indirectly impose or collect any fees, charges or remuneration relating to the processing or approval of an Application, the establishment of a Loan
Account, or the disbursement of Loan Proceeds, unless such fee, charge or remuneration is set forth in the Finance Materials or approved by Bank. 

  

	32.	Notice of Complaints and Regulatory Inquiries. Company shall notify Bank if it becomes aware of any investigations or proceedings by any state attorney general, Regulatory Authority, or the Better Business Bureau
or similar organization, or of any customer complaint that is directed or referred to any state attorney general, Regulatory Authority, or the Better Business Bureau or similar organization, relating to any aspect of the Program within five
(5) days of becoming aware of such investigation or proceeding or complaint, and Company shall provide Bank with all documentation relating thereto, subject to any legal prohibitions on disclosure of such investigation or proceeding. In
addition, Company shall provide Bank with periodic reporting, in a form and on a schedule mutually agreed upon by the Parties, summarizing customer complaints received by Company and the resolution thereof by Company. Company shall cooperate in good
faith and provide such assistance, at Bank’s request, to permit Bank to promptly resolve or address any investigation, proceeding, or complaint. 

  

	33.	Headings. Captions and headings in this Agreement are for convenience only, and are not to be deemed part of this Agreement. 

 

	34.	Privacy Law Compliance. Subject to Applicable Laws, Bank and Company shall comply with the privacy policy agreed upon by both Parties with respect to Applicants and Borrowers. 

  
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 Privileged & Confidential 

 
  

	35.	Manner of Payments. Unless the manner of payment is expressly provided herein, all payments under this Agreement shall be made by wire transfer to the bank accounts designated by the respective Parties.
Notwithstanding anything to the contrary contained herein, neither Party shall fail to make any payment required of it under this Agreement as a result of a breach or alleged breach by the other Party of any of its obligations under this Agreement
or any other agreement, provided that the making of any payment hereunder shall not constitute a waiver by the Party making the payment of any rights it may have under the Program Documents or by law. 

 

	36.	Referrals. Neither Party has agreed to pay any fee or commission to any agent, broker, finder, or other person for or on account of such person’s services rendered in connection with this Agreement that
would give rise to any valid claim against the other Party for any commission, finder’s fee or like payment. 

  

	37.	Financial Statements. (a) Within ninety (90) days following the end of Company’s fiscal year, Company shall deliver to Bank a copy of Company’s audited financial statements prepared by an
independent certified public accountant, and (b) within forty-five (45) days following the end of each of Company’s fiscal quarters (other than year-end), Company shall deliver to Bank a copy of Company’s unaudited financial
statements, in each case as of the year or quarter then ended and prepared in accordance with generally accepted accounting principles; provided that, as long as Company is required to file periodic reports under the Securities Exchange Act of 1934,
such filings shall satisfy the financial statement delivery requirements set forth above. Company shall also deliver such additional unaudited financial statements and other information as Bank may request from time to time, within a reasonable
period of time following such request. 

  

	38.	Information Security. 

  

	 	(a)	In connection with the Program, Company shall be responsible for maintaining an information security program that is designed, after consulting with Bank, to: (i) ensure the security and confidentiality of
Applicant or Borrower information held on behalf of Bank; (ii) protect against any anticipated and emergent threats or hazards to security or integrity of such information held on behalf of Bank; (iii) protect against unauthorized access
to or use of such information held on behalf of Bank that could result in substantial harm or inconvenience to any Applicant or Borrower; and (iv) ensure the proper disposal of customer information. 

 

	 	(b)	At least once annually, Company shall conduct an information technology audit consistent with banking industry practices, which shall include review of Company’s information security program. Such audit shall be
conducted by a third-party audit firm that is acceptable to Bank; the scope of each audit shall be subject to the advance approval of Bank. Company shall promptly provide a copy of the audit report. Company shall promptly take action to correct any
errors or deficiencies identified in any report or audit described in this Section 38, unless Bank agrees that correction is not required, and shall develop, with the approval of Bank, a schedule for the correction of such errors and
deficiencies. 

  

	 	(c)	 Company shall immediately (and in any event within twenty-four (24) hours after actual knowledge of such event) notify Bank of any actual,
suspected or threatened (to the extent such threat is considered credible by Company) breach in information security involving personally identifiable information of Applicants or Borrowers. In any such event Company agrees that it will fully
cooperate with Bank in investigating any such 

  
 21 

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breach or unauthorized access. With respect to any such breach in data security, Company agrees to take action promptly, at its own expense, to investigate the breach, to identify, mitigate and
remediate the effects of the breach and to implement any other reasonable and appropriate measures in response to the breach. Company will also provide Bank with all available information regarding such breach to assist Bank in implementing its
information security response program and, if applicable, in notifying affected Applicants or Borrowers. Company shall pay for the costs of any such notification, which notification shall be subject to the advance consent of Bank which shall not be
unreasonably withheld or delayed. 

  

	39.	Disaster Recovery and Business Continuity. Company shall maintain a disaster recovery and business continuity program and related policies acceptable to Bank (collectively, the “Business Continuity
Plans”). Company agrees that such Business Continuity Plans shall be at least consistent with industry standards for the consumer lending industry and in compliance with all Applicable Laws. Company shall test its Business Continuity Plans at
least once annually, and shall promptly provide Bank a copy of the report of such tests upon Bank’s request. 

  

	40.	Change of Control. Company shall provide written notice to Bank of any expected or anticipated Change of Control of Company not later than thirty (30) Business Days prior to the anticipated effective date of
such Change of Control. Bank will treat such information as material non-public information and agrees that it will be subject to all confidentiality provisions of the Agreement. 

 

	41.	Minimum Origination Obligation. The terms of Schedule 41 shall apply as if fully set forth in this Agreement. 

  
 22 

 Privileged & Confidential 

 
 IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed by their duly authorized officers as of the date first written above. 
  

			
	WEBBANK
		
	 By:
	 	  

		
	Name:	 	  

		
	Title:	 	  

  

			
	LENDINGCLUB CORPORATION
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  
 23 

 Privileged & Confidential 

 
 Schedule 1 

Definitions 
  

	 	(a)	“ACH” means the Automated Clearinghouse. 

  

	 	(b)	“Affiliate” means, with respect to a Party, a Person who directly or indirectly controls, is controlled by or is under common control with the Party. For the purpose of this definition, the term
“control” (including with correlative meanings, the terms controlling, controlled by and under common control with) means the power to direct the management or policies of such Person, directly or indirectly, through the ownership of
twenty-five percent (25%) or more of a class of voting securities of such Person. 

  

	 	(c)	“Applicable Laws” means all federal, state and local laws, statutes, regulations and orders applicable to a Party or relating to or affecting any aspect of the Program including the Loan Accounts, the
Program promotional and marketing materials and the Finance Materials, and all requirements of any Regulatory Authority having jurisdiction over a Party, as any such laws, statutes, regulations, orders and requirements may be amended and in effect
from time to time during the term of this Agreement. 

  

	 	(d)	“Applicant” means an individual who or business that requests a Loan Account from Bank. 

  

	 	(e)	“Application” means any request from an Applicant for a Loan Account in the form required by Bank. 

  

	 	(f)	“Assumption Notice” shall have the meaning set forth in Section 9(c). 

  

	 	(g)	“Bank” shall have the meaning set forth in the introductory paragraph of this Agreement. 

  

	 	(h)	“Bank Secrecy Act Policy” shall have the meaning set forth in Section 5(a). 

  

	 	(i)	“Borrower” means an Applicant or other Person for whom Bank has established a Loan Account and/or who is liable, jointly or severally, for amounts owing with respect to a Loan Account.

  

	 	(j)	“Business Day” means any day, other than (i) a Saturday or Sunday, or (ii) a day on which banking institutions in the State of Utah are authorized or obligated by law or executive order to be
closed. 

  

	 	(k)	“Change of Control” means (i) an acquisition of Control of the Company by any person or entity that does not currently have Control of Company or (ii) the sale by Company of all, or
substantially all, of its assets to any person or entity. Notwithstanding the foregoing, a public debt offering or initial public offering of the Company’s common stock shall be deemed not to be a “Change of Control.”

  

	 	(l)	“Claim Notice” shall have the meaning set forth in Section 9(c). 

  

	 	(m)	“Collateral Account” shall have the meaning set forth in Section 32(a) of the Loan Sale Agreement. 

  
 1 

 Privileged & Confidential 

 
  

	 	(n)	“Confidential Information” means the terms and conditions of this Agreement, and any proprietary information or non-public information of a Party, including a Party’s proprietary marketing plans
and objectives. 

  

	 	(o)	“Control” means, with respect to Company, the ability of a stockholder to vote, directly or indirectly, at least forty-five (45%) of any class of voting securities of the Company.

  

	 	(p)	“Credit Policy” means the minimum requirements of income, residency, employment history, credit history, and/or other such considerations that Bank uses to approve or deny an Application and to
establish a Loan Account. 

  

	 	(q)	“Disclosing Party” shall have the meaning set forth in Section 11(b)(2). 

  

	 	(r)	“Effective Date” shall have the meaning set forth in the introductory paragraph of this Agreement. 

  

	 	(s)	“Existing Program Agreement” shall have the meaning set forth in the recitals. 

  

	 	(t)	“Finance Materials” shall have the meaning set forth in Section 4. 

  

	 	(u)	“Force Majeure Event” shall have the meaning set forth in Section 27. 

  

	 	(v)	“Funding Amount” means the aggregate amount of (i) all Loan Proceeds to be disbursed by Bank to Borrowers on each Funding Date, and (ii) all Loan Origination Fees to be paid by Bank to Company
on each Funding Date, as the same are listed on a Funding Statement. 

  

	 	(w)	“Funding Date” means the Business Day on which any pending Applications are approved. 

  

	 	(x)	“Funding Statement” means the statement prepared by Company in the form of Exhibit F on a Business Day that contains (i) a list of all Applicants who meet the eligibility criteria set forth
in a Credit Policy, for whom Bank is requested to establish Loan Accounts; and (ii) the computation of the Loan Proceeds and all information necessary for the transfer of Loan Proceeds to the accounts designated by the corresponding Borrowers,
including depository institution names, routing numbers and account numbers; (iii) the computation of the Loan Origination Fees owed to Company; and (iv) such other information as shall be reasonably requested by Bank and mutually agreed
to by the Parties. 

  

	 	(y)	“Indemnifiable Claim” shall have the meaning set forth in Section 9(b). 

  

	 	(z)	“Indemnified Parties” shall have the meaning set forth in Section 9(a). 

  

	 	(aa)	“Insolvent” means the failure to pay debts in the ordinary course of business, the inability to pay its debts as they come due or the condition whereby the sum of an entity’s debts is greater than
the sum of its assets. 

  

	 	(bb)	“Lending Club Access Loan Account” shall mean a consumer Loan Account that is underwritten and approved pursuant to an offering that may be made available to Applicants who apply through the Company
platform and who do not qualify for a loan through the primary program. 

  
 2 

 Privileged & Confidential 

 
  

	 	(cc)	“Licensee” shall have the meaning set forth in Section 12. 

  

	 	(dd)	“Licensing Party” shall have the meaning set forth in Section 12. 

  

	 	(ee)	“Loan Account” means a consumer or business installment loan account established by Bank pursuant to the Program. 

  

	 	(ff)	“Loan Account Agreement” means the document containing the terms and conditions of a Loan Account including all disclosures required by Applicable Laws. 

 

	 	(gg)	“Loan Origination Fee” means the fee charged to Borrowers and deducted from the Loan Proceeds disbursed by Bank to Borrowers, as disclosed to Borrowers in the Finance Materials. 

 

	 	(hh)	“Loan Sale Agreement” means that Amended and Restated Loan Sale Agreement, dated as of even date herewith, between Bank and Company, pursuant to which Bank agrees to sell to Company, and Company agrees
to purchase from Bank, the Loan Accounts. 

  

	 	(ii)	“Loan Proceeds” means the funds disbursed to a Borrower by Bank pursuant to a Loan Account established by Bank under the Program, not including any Loan Origination Fee. 

 

	 	(jj)	“Losses” shall have the meaning set forth in Section 9(a). 

  

	 	(kk)	“Party” means either Company or Bank and “Parties” means Company and Bank. 

  

	 	(ll)	“Person” means any legal person, including any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization,
governmental entity, or other entity of similar nature. 

  

	 	(mm)	“Prior Programs” means the “Program” as defined in the Existing Program Agreement and the “Program” as defined in the Loan Account Program Agreement dated as of December 10,
2007 between Bank and Company. 

  

	 	(nn)	“Prior Program Documents” means the Existing Program Agreement, the Loan Account Program Agreement dated as of December 10, 2007 between Bank and Company, the Amended and Restated Loan Sale
Agreement dated as of November 8, 2010 between Bank and Company, and the Loan Sale Agreement dated as of December 10, 2007 between Bank and Company, each as amended from time to time. 

 

	 	(oo)	“Program” means the installment loan program pursuant to which Bank will establish Loan Accounts and disburse Loan Proceeds to Borrowers pursuant to the terms of this Agreement, initially as described
in Exhibit A attached hereto. 

  

	 	(pp)	“Program Compliance Manual” means the policies and procedures for the implementation of the Program by Company, including the policies and procedures regarding the (i) solicitation and receipt of
Applications, (ii) underwriting of Loan Accounts, (iii) processing of Applications, (iv) requirements of the USA PATRIOT Act Customer Identification Program, and (iv) initial and periodic Office of Foreign Assets Control
screenings. 

  
 3 

 Privileged & Confidential 

 
  

	 	(qq)	“Program Documents” means this Agreement and the Loan Sale Agreement. 

  

	 	(rr)	“Program Threshold Amount” means ***, or the amount that may be determined from time to time pursuant to Section 6(d). 

 

	 	(ss)	“Proprietary Material” shall have the meaning set forth in Section 12. 

  

	 	(tt)	“Regulatory Authority” means any federal, state or local regulatory agency or other governmental agency or authority having jurisdiction over a Party and, in the case of Bank, shall include, but not be
limited to, the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation. 

  

	 	(uu)	“Restricted Party” shall have the meaning set forth in Section 11(a). 

II. Construction 
 As used in this
Agreement: 
  

	 	(a)	All references to the masculine gender shall include the feminine gender (and vice versa); 

  

	 	(b)	All references to “include,” “includes,” or “including” shall be deemed to be followed by the words “without limitation”; 

 

	 	(c)	References to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; 

 

	 	(d)	References to “dollars” or “$” shall be to United States dollars unless otherwise specified herein; 

  

	 	(e)	Unless otherwise specified, all references to days, months or years shall be deemed to be preceded by the word “calendar”; 

 

	 	(f)	All references to “quarter” shall be deemed to mean calendar quarter; and 

  

	 	(g)	The fact that Bank or Company has provided approval or consent shall not mean or otherwise be construed to mean that: (i) either Party has performed any due diligence with respect to the requested or required
approval or consent, as applicable; (ii) either Party agrees that the item or information for which the other Party seeks approval or consent complies with any Applicable Laws; (iii) either Party has assumed the other Party’s
obligations to comply with all Applicable Laws arising from or related to any requested or required approval or consent; or (iv) except as otherwise expressly set forth in such approval or consent, either Party’s approval or consent
impairs in any way the other Party’s rights or remedies under the Agreement, including indemnification rights for Company’s failure to comply with all Applicable Laws. 

  
 4 

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Schedule 41 
 The following terms
shall apply as if fully set forth in the Agreement: 
 [***] 

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Exhibit A 
 The
Program 

 Privileged & Confidential 

 
 Exhibit B 

Credit Policy 

  
 2 

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Exhibit C 
 Form
of Application 

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Exhibit D 
 Loan
Account Documentation 

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Exhibit E  
 Bank
Secrecy Act Policy 

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Exhibit F 

Sample Funding Statement 

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Exhibit G 

Third-Party Service Contractors 
  

			
	 Third-Party Service Contractor
	  	 Service Provided

		  	
		  	

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Exhibit H 

Insurance Requirements 

(a) From the Effective Date and until termination of this Agreement, Company will maintain insurance of the following kinds and amounts, or in
amounts required by Applicable Laws, whichever is greater. 
 (i) A blanket fidelity bond and an errors and omissions insurance policy, with
broad coverage on all officers and employees acting in any capacity with regard to handling funds, money, or documents. The fidelity bond and errors and omissions insurance shall be in a form reasonably acceptable to Bank and shall protect and
insure against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such persons. No provision of this paragraph requiring the fidelity bond and errors and omissions insurance shall diminish or relieve
Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least $1,000,000, with the exception of $500,000 minimum coverage for forgery. 

(ii) Commercial general liability insurance written on an occurrence basis against claims on account of bodily injury, death or property
damage. Such insurance shall have a combined single limit of not less than $1,000,000 per occurrence and $1,000,000 annual aggregate for bodily injury, death and property damage. 

(iii) Worker’s Compensation and employers’ liability insurance affording (A) protection under the Worker’s Compensation Law
containing an all states endorsement and (B) Employers’ Liability Protection subject to a limit of not less than $500,000. 
 (iv)
Upon reasonable request by Bank, such other insurance as may be maintained by Persons engaged in the same or similar business and similarly situated. 

(b) Insurance policies required to be maintained hereunder shall be procured from insurance companies reasonably acceptable to Bank. Liability
insurance limits may be provided through any combination of primary and/or excess insurance policies. If requested by Bank, Company shall cause to be delivered to Bank annually a certified true copy of each fidelity bond and insurance policy
required under this Agreement. 

 Confidential Treatment Requested 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. 

Asterisks denote omissions. 

Exhibit I 

Program Compliance ManualEX-10.30

 Exhibit 10.30 

AGREEMENT IN CONNECTION WITH ASSIGNMENT 

AND ASSUMPTION OF MEMBERSHIP INTEREST PURCHASE AGREEMENT 

THIS AGREEMENT IN CONNECTION WITH ASSIGNMENT AND ASSUMPTION OF MEMBERSHIP INTEREST PURCHASE AGREEMENT (this “Agreement”) is
entered into this 28th day of February, 2014 (the “Effective Date”), by and between FOUNDATION SURGICAL HOSPITAL AFFILIATES, a Nevada limited liability company
(“Foundation”), and PHYSICIANS REALTY L.P., a Delaware limited partnership (“DOC”). 
 RECITALS 

A. On February 19, 2014, DOC-FSH San Antonio Hospital, LLC (“DOC-San Antonio”) purchased certain real property located
in San Antonio, Texas (the “Property”) from Foundation Bariatric Real Estate of San Antonio, LLLP (“Hospital Seller”), which property was encumbered by a master lease entered into by and between the Hospital Seller,
as Lessor, and Foundation Bariatric Hospital of San Antonio, L.L.C., as Lessee (the “Existing Lease”). 
 B. DOC owns sixty
percent (60%) of the limited liability company membership interests in DOC-San Antonio and BAH, LLC (“BAH”) owns forty percent (40%) of the limited liability company membership interests in DOC-San Antonio
(“BAH’s Interest”). 
 C. Foundation, as buyer, and BAH, as seller, entered into that certain Membership Interest
Purchase Agreement dated February 28, 2014 (the “MIPA”) for the sale and purchase of BAH’s Interest. 
 D. On the
Effective Date, Foundation and DOC entered into an Assignment and Assumption of Agreement of Membership Interest Purchase Agreement (the “Assignment”) whereby Foundation assigned, and DOC assumed, all of Foundation’s right,
title, interest and obligations in, to and under the MIPA. 
 E. Foundation hereby acknowledges and accepts that Foundation’s
covenants, representations, and warranties set forth in this Agreement are material inducements to DOC entering into the Assignment, and further acknowledges and accepts that DOC is relying thereon in agreeing to assume Foundation’s right,
title, interest and obligations in, to, and under the MIPA. 
 F. DOC hereby acknowledges and accepts that DOC’s covenants,
representations, and warranties set forth in this Agreement are material inducements to Foundation entering into the Assignment, and further acknowledges and accepts that Foundation is relying thereon in agreeing to the terms and conditions hereof
and related to the MIPA. 
 G. In furtherance of business agreements reached by the parties in connection with the Assignment, Foundation
and DOC wish to enter into this Agreement. 

 AGREEMENTS 

In consideration of the covenants and other provisions contained in this Agreement and the Assignment, the receipt and sufficiency of which
are hereby acknowledged, Foundation and DOC agree as follows: 
 1. Recitals; Capitalized Terms. Foundation and DOC agree that the
Recitals set forth above are true, accurate, and complete and are incorporated by this reference into this Section. All capitalized terms not defined in this Agreement shall have the meanings given to them in the MIPA. 

2. Purchase Price; Use of Proceeds. Foundation and DOC acknowledge and agree that DOC, pursuant to the MIPA, will pay to BAH the sum of
Two Million Four Hundred Seventy Thousand One Hundred Fifty-Nine Dollars and Eighty-Five Cents ($2,470,159.85) as the Purchase Price for BAH’s Interest. Foundation and DOC further acknowledge and agree that DOC has incurred and will incur
certain fees, costs and expenses, including, but not limited to, fees, costs and expenses in connection with its obligations under the MIPA, the purchase of BAH’s Interest, the purchase of the Property, and the transactions contemplated by this
Agreement (the “Transaction Costs”); provided, however, the Transaction Costs shall not include DOC’s legal fees or underwriting fees. DOC shall provide Foundation with copies of the closing statements for the transactions
contemplated by the MIPA, the purchase of the Property, and this Agreement that reflect the Transaction Costs. In consideration of the Assignment and the other promises and covenants set forth in this Agreement, DOC agrees to pay to Foundation an
amount equal to the difference between: (i) Twenty-Five Million Five Hundred Fifty-Five Thousand Five Hundred Fifty-Six and 00/100 Dollars ($25,555,556.00), minus (ii) the sum of the Purchase Price and the Transaction Costs (the
“Excess Proceeds”), shall be paid to Foundation at Closing. 
 3. Master Lease. 

(a) On the date of Closing, Foundation and DOC-San Antonio shall enter into, an absolute net lease for the Property for a term of fifteen
(15) years (the “Master Lease”). Base rent for the first year of the term shall be Two Million Three Hundred Thousand and 00/100 Dollars ($2,300,000.00), payable in equal monthly installments of 1/12 of such amount. Beginning
on the first anniversary of the Master Lease commencement date and on each anniversary of the commencement date thereafter, the base rent shall increase by three percent (3.0%) per annum. 

(b) Foundation and DOC acknowledge and agree that the Existing Lease shall continue as a sublease to the Master Lease, that the subject tenant
will continue to be responsible for all of the terms, conditions and obligations under the Existing Lease, and that DOC shall have no responsibility or liability therefor or in connection therewith. 

4. Interest Management. Upon Closing, Foundation shall assume property management responsibilities for the Property pursuant to the
Master Lease. 

  
 2 

 5. Indemnity. 

(a) Foundation agrees to indemnify and hold harmless DOC its officers, agents, employees, and tenants from and against, and to reimburse DOC
with respect to any and all claims, demands, causes of action, losses, damages, liabilities, costs and expenses (including attorneys’ fees and court costs) asserted against or incurred by DOC by reason of or arising out of: (i) a breach of
any representation or warranty of Foundation set forth in this Agreement; (ii) the failure of Foundation to perform any obligation required by this Agreement to be performed by it. 

(b) DOC agrees to indemnify and hold harmless Foundation its officers, agents, employees, and tenants from and against, and to reimburse
Foundation with respect to any and all claims, demands, causes of action, losses, damages, liabilities, costs and expenses (including attorneys’ fees and court costs) asserted against or incurred by Foundation by reason of or arising out of:
(i) a breach of any representation or warranty of DOC set forth in this Agreement; (ii) the failure of DOC to perform any obligation required by this Agreement to be performed by it. 

7. Default. If Foundation defaults in the performance of any obligation contained in this Agreement, then DOC shall have the right to:
(i) terminate this Agreement and rescind the Assignment by delivering written notice thereof to Foundation, whereupon Foundation shall assume and be liable for all of DOC’s obligations under the MIPA, and Foundation shall reimburse DOC for
all out-of-pocket expenses incurred by DOC in connection with the transactions contemplated by this Agreement, the Assignment and the MIPA, and the parties shall have no further liability or obligations to each other except as specified herein;
and/or (ii) exercise any and all rights and remedies available to it at law or in equity, including, without limitation, the right to sue for damages. If DOC defaults in the performance of any obligation contained in this Agreement, or if DOC
fails to perform any obligation required to be performed by DOC, then Foundation shall have the right to: (i) terminate this Agreement and rescind the Assignment by delivering written notice thereof to DOC, whereupon DOC shall assume and be
liable for all of Foundation’s obligations under the MIPA, and DOC shall reimburse Foundation for all out-of-pocket expenses incurred by Foundation in connection with the transactions contemplated by this Agreement, the Assignment and the MIPA,
and the parties shall have no further liability or obligations to each other except as specified herein; and/or (ii) exercise any and all rights and remedies available to it at law or in equity, including, without limitation, the right to sue
for damages. 
 8. Brokerage. DOC represents and warrants to Foundation and Foundation represents and warrants to DOC that each dealt
with no broker, agent, finder or other intermediary in connection with this Agreement, the sale and purchase of BAH’s Interest, the sale and purchase of the Property, the Master Lease and/or the Existing Lease. Foundation agrees to pay any real
estate broker, agent, finder or other intermediary claiming a commission in connection with this Agreement, the sale and purchase of BAH’s Interest, the sale and purchase of the Property, the Master Lease and/or the Existing Lease claiming by
through or under Foundation, and DOC shall have no liability or obligation in connection therewith. Foundation agrees to indemnify, defend and hold DOC harmless from and against the claims of any and all brokers, agents, finders and other
intermediaries claiming a commission in connection with this Agreement, the sale and purchase of BAH’s Interest, the sale and purchase of the Property, the 

  
 3 

 
Master Lease and/or the Existing Lease claiming by through or under Foundation. DOC agrees to indemnify, defend and hold Foundation harmless from and against any broker’s claim, agent,
finder, or other intermediary claiming commissions arising from any breach by DOC of DOC’s representation and warranty in this Section 8. 

9. Miscellaneous. 
 (a)
All of the representations and warranties contained in this Agreement, all covenants, agreements and indemnities made herein, and all obligations to be performed under the provisions of this Agreement shall survive Closing. 

(b) The “captions” or “headings” in this Agreement are inserted for convenience of reference only and in no way define,
describe or limit the scope or intent of this Agreement or any of the provisions hereof. 
 (c) DOC shall have the right to assign this
Agreement to a subsidiary or affiliate and any other assignment shall be subject to the prior written consent of Foundation. Foundation shall not assign this Agreement without the prior written consent of DOC. Any assignment of this Agreement by
Foundation without DOC’s prior written consent shall be null and void, and of no force or effect. 
 (d) This Agreement shall be
binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators, legal representatives, successors and permitted assigns. 

(e) Except for the Assignment, this Agreement contains the entire agreement as to BAH’s Interest between Foundation and DOC; and there
are no other terms, obligations, covenants, representations, statements or conditions, oral or otherwise, of any kind whatsoever concerning BAH’s Interest. This Agreement shall not be altered, amended, changed or modified except in writing
executed by the parties hereto. 
 (f) This Agreement shall be construed in accordance with the internal laws of the State of Texas, without
giving effect to its conflicts of laws provisions. 
 (g) All parties to this Agreement having participated fully and equally in the
negotiation and preparation hereof, this Agreement shall not be more strictly construed, or any ambiguities within this Agreement resolved, against either party hereto. 

(h) Time is of the essence of this Agreement and DOC and Foundation hereby agree that the times provided for in this Agreement are reasonable
times for each party to complete its respective obligations. 
 (i) This Agreement may be executed or amended in counterparts, all of which
taken together shall constitute one and the same instrument. 

  
 4 

 (j) If any of the terms or conditions contained herein shall be declared to be invalid or
unenforceable by a court of competent jurisdiction, then the remaining provisions and conditions of this Agreement, or the application of such to persons or circumstances other than those to which it is declared invalid or unenforceable, shall not
be affected thereby and shall remain in full force and effect and shall be valid and enforceable to the full extent permitted by law. 

REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 

(Signatures contained on following pages.) 

  
 5 

 IN WITNESS WHEREOF, intending to be legally bound, the parties have caused this Agreement to be
duly executed, under seal. 
  

											
	Foundation:	 		 	DOC:
			
	FOUNDATION SURGICAL HOSPITAL AFFILIATES, LLC	 		 	PHYSICIANS REALTY, L.P.
				
		 		 	By:	 	Physicians Realty Trust, its general Partner
				
	By:	 	 /s/ Stanton Nelson
	 		 	
		 	Stanton Nelson, Manager	 		 		 	By:	 	 /s/ John T. Thomas

		 		 		 		 		 	 John T. Thomas
 President and Chief Executive
Officer

  
 6

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