Document:

Exhibit 10.2

 

SECOND AMENDED AND RESTATED

MANAGEMENT AND ADVISORY AGREEMENT

 

This SECOND AMENDED
AND RESTATED MANAGEMENT AND ADVISORY AGREEMENT (the “Agreement”), dated as of  November 1, 2017, is by and
between Western Capital Resources, Inc., a Delaware corporation (the “Company”), and Blackstreet Capital Management,
LLC, a Delaware limited liability company (“BCM”).

 

WHEREAS, the Company
and BCM are parties to that certain Amended and Restated Management and Advisory Agreement, dated as of June 21, 2012, as amended
by that certain First Amendment to Amended and Restated Management and Advisory Agreement, dated as of October 1, 2014, and as
amended that certain Second Amendment to Amended and Restated Management and Advisory Agreement, dated as of July 1, 2015 (collectively,
the “Original Agreement”) pursuant to which, among other things, the Company retained BCM to provide certain
management and advisory services to the Company; and

 

WHEREAS, the parties
desire to amend the Original Agreement to, among other things, make certain clarifications with respect to the payment of fees;
and

 

NOW, THEREFORE,
in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1.            Management
Services. During the term of this Agreement (the “Term”), BCM hereby agrees:

 

		(a)	to provide the Company with financial, managerial, strategic
and operational advice in connection with its day-to-day operations, including, without limitation:

 

		(i)	advice with respect to the investment of funds and cash management;

 

		(ii)	advice with respect to the development and implementation of strategies
for improving the operating, marketing and financial performance of the Company and its subsidiaries;

 

		(iii)	advice with regard to growth of new stores, including but not limited to
arranging acquisition and financing of such growth;

 

		(iv)	assistance with support for various corporate functions of the Company as
well as administrative support in light of the Company’s reduced staffing;

 

		(v)	advice and assistance with respect to analytical services;

 

    

     

    

 

		(vi)	advice and assistance with respect to lobbying and other regulatory and
compliance needs of the Company through BCM’s political and professional contacts and associations (including without limitation
membership in the CFSA and a deep and long-standing relationship with one of the largest and most prestigious lobbying firm in
the country) and BCM’s knowledge base in the Company’s business areas;

  

		(vii)	advice and assistance with respect to installing and monitor controls and
procedures at the Company, which is a specialty of BCM and which the Company is in need of in light of deficiencies in internal
controls being identified for the past two years; and

 

		(viii)	advice and assistance with respect to establishing and implementing daily
and weekly reporting with checks and balances, to avoid management integrity issues that have previously affected the Company and
prevent such issues from happening in the future.

 

		(b)	to allow certain of its qualified personnel to serve on the board of directors (or observe board
meetings) of the Company and its subsidiaries, if any (or their equivalents).

 

		(c)	to assist the Company in obtaining debt or equity financing.

 

		2.	Payment of Fees. During the Term, the Company agrees:

 

(a)
Management Fees.

 

		(i)	to pay to BCM (or an affiliate of BCM designated by it) annual management
fees equal to the greater of (1) $674,840.28 per annum (increasing 5% per year) (the “Base Fee”) or (2) 5% of
EBITDA (defined below) per annum (the “EBITDA-Based Fee”) in exchange for the services provided to the Company
by BCM, as more fully described in Section 1 of this Agreement, with such fee being payable by the Company in accordance
with Section 2(a)(i)(A) by ACH or wire transfer of immediately available funds. As used herein, “EBITDA” shall
mean the Company’s net income plus net interest expense plus taxes, depreciation and amortization plus
any fees payable hereunder plus any fees payable to any member of the Company’s board of directors and any fees payable
to any member of the Company’s subsidiaries’ board of directors plus any one-time and/or non-recurring expenses
and any non-cash items.

 

		(A)	Payment of the fees set forth in Section 2(a)(i) above shall be made as
follows: During the period commencing January 1, 2017 and thereafter, for each calendar year, BCM shall invoice (and the Company
shall pay) (1) the Monthly Base Fee prior to each month, and (2) at the end of each calendar year (and once the financial results
for such period are available), the amount, if any, by which the EBITDA-Based Fee exceeds the Base Fee for such calendar year.

 

    

     

    

 

		(ii)	to pay BCM, in connection with the closing of any debt or equity financing
from any third party, a fee in an amount equal to two percent (2%) of the total amount of funds committed in such financing. Such
fee shall be payable directly to BCM from the proceeds of the financing.

  

		(iii)	to pay BCM, in connection with referring any add on acquisitions to the
Company and performing due diligence and turnaround services in connection with such acquisitions, a fee in the amount of $400,000
at the closing of such acquisitions and to subsequently increase management fees paid to BCM in Section 2(a) by $60,000 per annum
for each add on acquisition in exchange for the services provided to the Company and any add on acquisitions unless such fees are
reduced or waived in their entirety by BCM in its sole discretion.

 

3.            Term
of Agreement. This Agreement shall continue in full force and effect, until the termination by mutual consent of the parties.
Upon any termination, the Company shall be required to pay a termination fee to BCM in an amount equal to the result of (a) the
total fees payable pursuant to Section 2(a)(i)(A) above plus the amount, if any, by which the EBITDA Based Fee exceeds the
Base Fee for the twelve (12) month period immediately preceding termination multiplied by (b) three (3) in order to compensate
BCM for the fixed costs required to set up and maintain this Agreement. For example, based on a Base Fee of $674,840.28, the termination
fee would be $2,024,520.84. This termination fee would increase if the EBITDA Based Fee exceeds the Base Fee for the twelve (12)
month period immediately preceding termination. The termination fee shall be payable to BCM within two (2) business days of such
mutual consent to terminate this Agreement. The obligations of the Company under Section 4 below shall survive any such
termination.

 

4.            Waiver
of Fees. Notwithstanding the provisions of Paragraphs 2 and 3 of this Agreement, to the extent that the termination of the
Agreement occurs in conjunction with a transaction that involves the acquisition, disposition or other transfer of securities,
BCM may in its sole and absolute discretion waive such fees if it determines that the receipt of such fees may be prohibited by
applicable laws or regulations, including without limitation the Securities Exchange Act of 1934.

 

5.            Expenses;
Indemnity.

 

5.1          Expenses.
The Company agrees to pay on demand all expenses incurred by BCM and/or any of its affiliates in connection with this Agreement
and the provision of services hereunder, including but not limited to: (i) the fees and disbursements of (a) Manatt, Phelps &
Phillips, LLP, or any other special counsel to BCM, (b) Todres and Company, LLP, MN Blum LLC, or any other accountant to the Company
and (c) any other consultants or advisors retained by the parties in clauses (a) and (d) arising in connection with the
preparation, negotiation and execution of this Agreement and any other agreement executed in connection herewith or the consummation
of the transactions contemplated hereby and thereby, including, without limitation, amendments, modifications, restructurings,
add on acquisitions and waivers, and exercises and preservations of rights and remedies, and (ii) the out-of-pocket expenses incurred
by BCM or any of its affiliates in connection with the provision of services hereunder or the attendance at any meeting of the
board of directors (or their equivalent or any committee thereof) of the Company or any of its subsidiaries, if any.

 

    

     

    

 

Manatt, Phelps & Phillips, LLP’s or any
other legal counsel retained (each, “Counsel”) in connection with the provision of services on behalf the Company
in its role as special counsel to BCM, may create an attorney-client relationship between such Counsel and the Company. The Company
acknowledges that Manatt, Phelps & Phillips, LLP (and, to the extent applicable, any such other Counsel) has represented and
continues to represent BCM on numerous matters both related and unrelated to the Company. By signing below, the Company acknowledges
Manatt, Phelps & Phillips, LLP’s (and, to the extent applicable, any such other Counsel’s) representation of BCM
and recognizes and expressly acknowledges that any joint representation of the Company’s interests shall not be deemed to
constitute or give rise to any conflict of interest relating to any Counsel’s continued representation of BCM on matters
relating to the Company, this Agreement or otherwise. If, at any time during the course of any Counsel’s representation of
the Company there arises an actual or potential conflict with BCM, it is expressly agreed by the parties that (1) such Counsel
may continue to represent BCM; (2) nothing stated during such Counsel’s representation of BCM and the Company shall be construed
to mean that such Counsel could not continue to represent BCM; (3) any and all confidences, secrets or other privileged communications
that any of the Company or BCM has communicated to such Counsel may be shared with BCM; and (4) if such information is shared with
BCM, BCM retains the right to waive the confidentiality of such information, even if doing so may raise questions about compliance
with applicable legal or regulatory requirements. Having been apprised of these potential conflicts and adverse consequences, the
Company, by signing below confirms that it has concluded that they do not outweigh the benefits to it of such Counsel’s joint
representation and each of the Company and BCM, by signing below, consent to such joint representation and acknowledge receipt
of disclosure of the existence and nature of possible conflicts of interest among BCM and the Company and the possible adverse
consequences of such joint representation.

 

5.2          Indemnity
and Liability. In consideration of the execution and delivery of this Agreement by BCM, the Company hereby agrees to
indemnify, exonerate and hold each of BCM, and its partners, members, shareholders, affiliates, persons for which they are
acting as nominees, trustees, directors, officers, fiduciaries, employees and agents and each of the partners, members,
shareholders, affiliates, trustees, directors, officers, fiduciaries, employees and agents of each of the foregoing
(collectively, the “Indemnities”) free and harmless from and against any and all actions, causes of
action, suits, losses, liabilities and damages, and expenses in connection therewith, including without limitation
attorneys’ fees and disbursements (collectively, the “Indemnified Liabilities”), incurred by the
Indemnities or any of them as a result of, or arising out of, or relating to the execution, delivery, performance,
enforcement or existence of this Agreement except for any such Indemnified Liabilities arising on account of any
Indemnity’s willful misconduct, and if and to the extent that the foregoing undertaking may be unenforceable for any
reason, the Company hereby agrees to make the maximum contribution to the payment and satisfaction of each of the
Indemnified Liabilities which is permissible under applicable law. None of the Indemnities shall be liable to the Company or
any of its affiliates for any act or omission suffered or taken by such Indemnity that does not constitute willful
misconduct. Notwithstanding anything to the contrary herein, nothing in this Agreement shall in any way constitute a waiver
or limitation of any rights that Company may have under federal or state securities laws (or ERISA, where applicable).

 

    

     

    

 

6.            Independent
Contractor. The Company and BCM agree and acknowledge that BCM shall perform services hereunder as an independent contractor,
retaining control over and responsibility for its own operations and personnel. Neither BCM nor its employees shall be considered
employees or agents of the Company as a result of this Agreement or the services provided hereunder.

 

7.            Non-Assignability of Agreement.
Neither party shall have the right to assign this Agreement without the consent of the other party hereto. BCM acknowledges that
its services under this Agreement are unique. Accordingly, any purported assignment by BCM without the consent of the Company shall
be void. Notwithstanding the foregoing, BCM may assign all or part of its rights and obligations hereunder to any affiliate of
BCM which provides services similar to those called for by this Agreement, in which event BCM shall be released of all of its rights
and obligations hereunder.

 

8.            Waiver. No amendment or waiver of any term, provision or condition of this Agreement shall be effective unless in writing
and executed by each of BCM and the Company. No waiver on any one occasion shall extend to or effect or be construed as a waiver
of any right or remedy on any future occasion. No course of dealing of any person nor any delay or omission in exercising any right
or remedy shall constitute an amendment of this Agreement or a waiver of any right or remedy of any party hereto.

 

9.            Maryland Law, etc. 

 

9.1          Choice
of Law. This Agreement shall be governed by and construed in accordance with the domestic substantive laws of the State
of Maryland without giving effect to any choice or conflict of law provision or rule that would cause the application of the
domestic substantive laws of any other jurisdiction.

 

9.2          Consent
to Jurisdiction, etc. Each of the parties agrees that all actions, suits or proceedings arising out of or based upon
this Agreement or the subject matter hereof shall be brought and maintained exclusively in the federal and state courts of
the State of Maryland, specifically in Montgomery County, MD. Each of the parties hereto by execution hereof (i) hereby
irrevocably submits to the jurisdiction of the federal and state courts in Montgomery County, in the State of Maryland for
the purpose of any action, suit or proceeding arising out of or based upon this Agreement or the subject matter hereof and
(ii) hereby waives, to the extent not prohibited by applicable law, and agrees not to assert, by way of motion, as a defense
or otherwise, in any such action, suit or proceeding, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that it is immune from extraterritorial injunctive relief or other injunctive relief, that its property
is exempt or immune from attachment or execution, that any such action, suit or proceeding may not be brought or maintained
in one of the above-named courts, that any such action, suit or proceeding brought or maintained in one of the above-named
courts should be dismissed on grounds of forum non conveniens, should be transferred to any court other than one of
the above-named courts, should be stayed by virtue of the pendency of any other action, suit or proceeding in any court other
than one of the above-named courts, or that this Agreement or the subject matter hereof may not be enforced in or by any of
the above-named courts. Each of the parties hereto hereby consents to service of process in any such suit, action or
proceeding in any manner permitted by the laws of the State of Maryland, agrees that service of process by registered or
certified mail, return receipt requested, at the address specified in or pursuant to Section 11 is reasonably
calculated to give actual notice and waives and agrees not to assert by way of motion, as a defense or otherwise, in any such
action, suit or proceedings any claim that service of process made in accordance with Section 11 does not
constitute good and sufficient service of process. The provisions of this Section 9.2 shall not restrict the ability
of any party to enforce in any court any judgment obtained in a federal or state court of the State of Maryland.

 

    

     

    

 

9.3          Waiver
of Jury Trial; Dispute Resolution; Attorneys’ Fees. Each party hereto waives its right to a jury trial of any claim or
cause of action arising out of or based upon this Agreement. This waiver is a material inducement for both parties to enter into
this Agreement. Each party has reviewed this waiver with its counsel. Any dispute under this Agreement shall be resolved by arbitration
conducted in Washington, DC, in accordance with the Commercial Arbitration Rules
of the American Arbitration Association, which rules are incorporated by reference into this clause. A single arbitrator shall
be chosen by mutual agreement of the parties. If the parties cannot agree on a single arbitrator, then the arbitration shall be
conducted by 3 arbitrators whereby each party shall choose 1 arbitrator and those 2 arbitrators shall select a third arbitrator.
The arbitration shall be conducted in a single hearing, and the arbitrator(s) shall render his/her/their decision within a reasonable
time after the conclusion of the hearing. With regard to any arbitration or other proceeding filed or brought by any of the parties
against another party, the Prevailing Party (defined below) shall be entitled to recover all of its reasonable costs and expenses
incurred in connection with such dispute, including expenses, court costs, witness fees and legal and accounting fees. The term
“Prevailing Party” means that party whose position is substantially upheld in a final judgment rendered in such proceeding.
The decision of the arbitrator(s) shall be final and nonappealable. Judgment upon any decision rendered by the arbitrators may
be entered by any court having jurisdiction.

 

10.          Entire
Agreement. This Agreement contains the entire understanding of the parties with respect to the subject matter hereof.

 

 11.          Notice. All notices,
demands, and communications of any kind which any party may require or desire to serve upon any other party under this Agreement
shall be in writing (including telecopier facsimile or similar writing) and shall be served upon such other party and such other
party’s copied persons as specified below by personal delivery or telecopier transmission to its address or telecopier number
set forth below or to such other telecopy number and address as any party shall have specified by notice to each other party or
by mailing a copy thereof by certified or registered mail, or by Federal Express or any other reputable overnight courier service,
postage prepaid, with return receipt requested, addressed to such party and copies persons at such addresses. In the case of service
by personal delivery, it shall be deemed complete on the first business day after the date of actual delivery to such address.
In the case of service by telecopier transmission, it shall be deemed complete on the first business day after the date of receipt
of answerback or other confirmation of receipt at such telecopier number. In case of service by mail or by overnight courier, it
shall be deemed complete, whether or not received, on the third day after the date of mailing as shown by the registered or certified
mail receipt or courier service receipt. Notwithstanding the foregoing, notice to any party or copied person of change of address
or telecopy number shall be deemed complete only upon actual receipt by an officer or agent of such party or copied person.

 

    

     

    

 

If to the Company, to it at:

 

Western Capital Resouces, Inc.

11550 “I” Street, Suite 150

Omaha, NE 68137

Attn: Chief Executive Officer

 

If to BCM, to it at:

 

Blackstreet Capital Management, LLC

5425 Wisconsin Avenue

Suite 701

Chevy Chase, MD 20815 Telecopy:
(240) 332-1333

Attn: Murry N. Gunty

 

with a copy to:

Manatt, Phelps
& Phillips, LLP

1050 Connecticut
Avenue, NW, Suite 600

Washington, DC
20036

Attn: Alan M. Noskow

Fax: (202) 637-1595

 

12.          Counterparts,
Facsimile Signature. This Agreement may be executed in any number of counterparts, each of which will be deemed an original,
but all of which together will constitute one and the same instrument. This Amendment will become effective when duly executed
and delivered by each party hereto. Counterpart signature pages to this Amendment may be delivered by facsimile or electronic
delivery (i.e., by email of a PDF signature page) and each such counterpart signature page will constitute an original for all
purposes.

 

13.          Severability. If in any judicial
or arbitral proceedings a court or arbitrator shall refuse to enforce any provision of this Agreement, then such unenforceable
provision shall be deemed eliminated from this Agreement for the purpose of such proceedings to the extent necessary to permit
the remaining provisions to be enforced. To the full extent, however, that the provisions of any applicable law may be waived,
they are hereby waived to the end that this Agreement be deemed to be valid and binding agreement enforceable in accordance with
its terms, and in the event that any provision hereof shall be found to be invalid or unenforceable, such provision shall be construed
by limiting it so as to be valid and enforceable to the maximum extent consistent with and possible under applicable law.

 

    

     

    

 

14.          Subordination
Agreement. The obligations of the Company to BCM under this Agreement are subordinated to the prior payment in full of any
senior debt of the Company and any subordinated debt provided by Blackstreet Capital Partners II, L.P. or its affiliates. Notwithstanding
anything to the contrary contained herein, the Company may, at its option and without prior notice to BCM, defer any payment hereunder,
which, absent this sentence, would be due hereunder if, for so long as and to the extent that any such payment would be in violation
of the terms of any subordination agreement in place with respect to such senior or subordinated debt, and the Company shall not
be deemed in default of this Agreement as a result of the deferral of any such payment pursuant to this sentence.

 

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

 

	 	WESTERN CAPITAL RESOURCES, INC.
	 	 	 
	 	By:	/s/ John Quandahl
	 	Name:	John Quandahl
	 	Title: 	Chief Executive Officer
	 	 	 
	 	BLACKSTREET CAPITAL MANAGEMENT, LLC
	 	 
	 	By:	/s/ Murry N. Gunty
	 	Name:	Murry N. Gunty
	 	Title:	ManagerExhibit 10.3

 

CONSENT AND SECOND LOAN MODIFICATION
AGREEMENT

 

THIS CONSENT AND SECOND
LOAN MODIFICATION AGREEMENT (this “Agreement”), is made and entered into as of July 18, 2017 but effective as of July
1, 2017, by and among WESTERN CAPITAL RESOURCES, INC., a Delaware corporation (the “Borrower”), EACH OF THE UNDERSIGNED
SUBSIDIARIES OF THE BORROWER (together with the Borrower, collectively, the “Loan Parties”, and each, individually,
a “Loan Party”), and FIFTH THIRD BANK, an Ohio corporation (together with its successors and assigns, the “Lender”).

 

RECITALS:

 

A.       Pursuant
to that certain Credit Agreement dated as of April 21, 2016 by and between Borrower and Lender (as amended, modified, restated
or supplemented from time to time, the “Credit Agreement”), Lender agreed to make available to Borrower one or more
extensions of credit in such amounts as may be set forth in the Credit Agreement. Unless the context otherwise requires, all terms
used herein without definition shall have the respective definitions provided therefor in the Credit Agreement.

 

B.       The
Loan and Borrower’s obligations under the Credit Agreement, the Note and the other Loan Documents are secured by, among other
things, the Security Documents.

 

C.       PQH
and New PQH Subsidiary have entered into an Amended and Restated Asset Purchase and Contribution Agreement, dated effective as
of July 1, 2017, with the Cricket Sellers, Swathi Anne and Vishal Anne, each a resident of the state of Texas, pursuant to which
(a) Cricket Sellers have assigned to Global Vibe, LLC, a Texas limited liability company (“Global”), their right to
receive payment of the purchase price payable thereunder, including the portion of the purchase price payable by New PQH Subsidiary
executing a promissory note to Cricket Sellers, and their right to receive equity in New PQH Subsidiary in exchange for contributing
certain assets to New PQH Subsidiary and (b) Cricket Sellers have agreed to (i) sell to PQH, for $1,800,000 in cash, a 25% undivided
interest in substantially all of the assets of Cricket Seller relating to the operation of 58 retail stores selling Cricket branded
products and services (which undivided interest PQH will thereupon contribute to New PQH Subsidiary), (ii) sell to New PQH Subsidiary
a 45% undivided interest in substantially all of the assets of Cricket Sellers relating to the operation of 58 retail stores selling
Cricket branded products and services (in exchange for New PQH Subsidiary’s delivery to Global of a $789,216 promissory
note), and (iii) contribute to New PQH Subsidiary the remaining 30% undivided interest in substantially all of the assets
of Cricket Sellers relating to the operation of 58 retail stores selling Cricket branded products and services, in exchange for
which contribution New PQH Subsidiary will issue to Global a 30% Equity Interest in New PQH Subsidiary (such purchases, sales and
contribution being herein called the “Cricket Acquisition”).

 

D.       Borrower
has requested that Lender consent to the consummation by PQH and New PQH Subsidiary of the Cricket Acquisition (specifically including
the issuance by New PQH Subsidiary of a 30% interest therein to Cricket Sellers or their assigns), the incurring by New PQH Subsidiary
of the Indebtedness contemplated thereby and to be evidenced by the Cricket Seller Subordinated Debt, and the guaranty of such
Indebtedness by PQH.

 

E.       Borrower
has also requested Lender’s waiver of the restrictions in Section 8.06(e)(i) of the Credit Agreement so that Borrower may
pay its ordinary quarterly $0.025 per share dividend declared by Borrower’s Board of Directors on March 1, 2017 for the holders
of record as of March 15, 2017 (and to be payable on or about March 20, 2017) (the “Quarterly Dividend”). Upon the
terms and subject to the conditions contained herein, Lender has agreed to grant its consent to the transactions described in the
foregoing Recital paragraph C and to accomplish the foregoing, Borrower and Lender desire to amend the Loan Documents as provided
for in this Agreement.

 

     

     

    

 

IN CONSIDERATION of
the foregoing Recitals and the agreements, representations and covenants contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

SECTION
1. Amendments to Loan Documents. Subject to the conditions hereof, the Loan Documents are hereby amended as follows:

 

(a)         New defined terms “Cricket Acquisition”, “Cricket Purchase Agreement”, “Cricket Seller Subordinated
Debt”, “Cricket Seller Subordination Agreement”, “Global” and “Second Amendment” are
added to Section 1.01 of the Credit Agreement in their proper alphabetical order as follows:

 

“Cricket Acquisition”
means the sales and contribution by Cricket Sellers to PQH and New PQH Subsidiary, and the purchase by PQH and New PQH Subsidiary
of, and issuance of 30% of the Equity Interests in New PQH Subsidiary to Cricket Sellers’ assignee, Global, in exchange for,
substantially all of the assets relating to Seller’s operation of 54 retail stores selling Cricket branded products and services,
all as set forth in the Cricket Purchase Agreement.

 

“Cricket Purchase Agreement”
means that certain Amended and Restated Asset Purchase and Contribution Agreement, dated effective as of July 1, 2017, among Cricket
Sellers, Vishal Anne and Swathi Anne, each residents of the State of Texas, PQH and New PQH Subsidiary.

 

“Cricket Seller Subordinated
Debt” means the Indebtedness of New PQH Subsidiary owing to Global evidenced by, and owing pursuant to, the Cricket Seller
Subordinated Note, the payment of which is subordinated to the payment of the Obligations pursuant to the Cricket Seller Subordination
Agreement.

 

“Cricket Seller Subordinated
Note” means that certain $789,216 Subordinated Promissory Note, dated on or about the date of the Second Amendment, executed
by New PQH Subsidiary to the order of Global, as from time to time amended, modified, supplemented or restated in accordance with
the terms of the Cricket Seller Subordination Agreement.

 

“Cricket Seller Subordination
Agreement” means the Subordination Agreement, dated on or about the date of the Second Amendment, among Lender, Global, PQH
and New PQH Subsidiary, as from time to time amended, modified, supplemented or restated, subordinating the payment of Cricket
Seller Subordinated Debt and the PQH guaranty thereof to the payment of the Obligations.

 

“Global” means Global
Vibe, LLC, a Texas limited liability company.

 

“Second Amendment”
means the Consent and Second Loan Modification Agreement, dated effective as of July 1, 2017, between Borrower, Lender and other
Loan Parties.

 

    2 

     

    

 

(b)         The first sentence of Section 5.12 of the Credit Agreement is amended in its entirety to read as follows:

 

No Loan Party has any Subsidiaries
other than those specifically disclosed in Part (a) of Schedule 5.12 (and if such Subsidiary is also an Unrestricted MSB
Subsidiary, it is designated as such on such Schedule) and all of the outstanding Equity Interests in such Persons have been validly
issued, are fully paid and non-assessable and are owned by a Loan Party or, in the case of New PQH Subsidiary, by PQH and Cricket
Sellers, in the amounts specified on Part (a) of Schedule 5.12 free and clear of all Liens except those created under the
Security Documents.

 

(c)         A new Section 5.18 of the Credit Agreement is added in its proper numerical order as follows:

 

5.18       Cricket
Acquisition. The Cricket Acquisition Agreement is in full force and effect as of the date of the Second Amendment and has not
been amended or waived by any party thereto in any material respect. All representations and warranties of the parties to the Cricket
Acquisition Agreement are, to the best of Borrower’s knowledge, true and correct in all material respects as of the date
of the Second Amendment with the same effect as though made on and as of the such date. All requisite approvals by governmental
authorities and regulatory bodies having jurisdiction over Borrower, PQH and New PQH Subsidiary in connection with the Cricket
Acquisition have been duly obtained and no such approvals impose any conditions to the consummation of the transactions contemplated
by the Cricket Acquisition Agreement or to the conduct of the business of any of Borrower, PQH or New PQH Subsidiary in the same
manner as heretofore conducted. None of Borrower, PQH or New PQH Subsidiary has been notified that legal proceedings adverse to
the transaction contemplated by the Cricket Acquisition Agreement are contemplated by any Person, including any governmental body
or agency.

 

(d)         Section 8.02 of the Credit Agreement is amended by (i) deleting the word “and” from the end of clause (d) thereof,
(ii) deleting the period at the end of clause (e) thereof and inserting “; and” in lieu thereof; and (iii) adding a
new clause (f) in its proper alphabetical sequence as follows: “(f) the Cricket Seller Subordinated Debt.”

 

(e)         Clause (a) of Section 8.06 is amended in its entirety to read as follows:

 

(a)         (i)
each Non-MSB Subsidiary other than New PQH Subsidiary may make Restricted Payments to its shareholders or unit holders (including
Borrower), any Non-MSB Subsidiaries of the Borrower that are Guarantors and any other Person that owns a direct Equity Interest
in such Non-MSB Subsidiary, ratably according to their respective holdings of the type of Equity Interest in respect of which such
Restricted Payment is being made, and (ii) New PQH Subsidiary may make Restricted Payments to PQH and the Cricket Sellers, provided,
that (x) immediately before and immediately after giving pro forma effect to such Restricted Payments to the Cricket Sellers, no
Default shall have occurred and be continuing and (y) such Restricted Payments to the Cricket Sellers do not exceed (A) amounts
necessary for the Cricket Sellers to pay federal and state income taxes (based on the highest rates applicable to the Cricket Sellers
for the applicable year) with respect to the taxable income of New PQH Subsidiary and otherwise payable by the Cricket Sellers
as a direct result of their respective ownership interests in New PQH Subsidiary and (B) additional amounts, if any, such that
immediately after giving effect to the payment thereof, the Borrower and its Non-MSB Subsidiaries shall be in pro forma compliance
with all of the covenants set forth in Article VII, such compliance to be determined on the basis of the financial information
most recently delivered to the Lender pursuant to Section 6.01(a) or (b);

 

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(f)          Schedule 5.12 to the Credit Agreement is amended in its entirety to read as Schedule 5.12 attached to this Agreement.

 

SECTION
2. Consent to Cricket Acquisition and Related Matters. Subject to the conditions set forth in this Section 2 and
in Section 3 of this Agreement, Lender does hereby (a) consent to the Cricket Acquisition and the related incurring by New PQH
Subsidiary of the Cricket Seller Subordinated Debt and the guaranty by PQH thereof, it being understood and agreed that such consent
includes Lender’s consent to New PQH Subsidiary not being a wholly-owned Subsidiary; and (b) consent (and reaffirm its earlier
provided consent) to the declaration and payment of the Quarterly Dividend (such consent to be effective as of March 1, 2017),
provided, that the conditions to such payment contained in clauses (ii) and (iii) of Section 8.06(e) of the Credit Agreement
are satisfied, it being understood and agreed that the condition to such payment contained in clause (i) of Section 8.06(e) of
the Credit Agreement is hereby waived by the Lender solely with respect to the payment of the Quarterly Dividend.

 

SECTION
3. Conditions to Actions Set Forth Herein. It is a condition precedent to the obligations of Lender to take the actions
on its part contemplated by this Agreement that Borrower shall have delivered to Lender, in form satisfactory to Lender, the following:

 

(a)         the executed original of this Agreement and the Cricket Seller Subordination Agreement;

 

(b)         all documents and instruments, including UCC financing statements and certificates of title, required by law or reasonably
requested by Lender to be filed, registered or recorded to create or perfect the Liens intended to be created under the Security
Documents;

 

(c)         the results of a search of the UCC (or equivalent) filings made with respect to each Cricket Seller in jurisdictions satisfactory
to Lender, copies of the financing statements (or similar documents) disclosed by such search and evidence satisfactory to Lender
that the Liens indicated by such financing statements (or similar documents) are permitted by Section 8.02 of the Credit
Agreement or have been released;

 

(d)         evidence that all other action that Lender may deem necessary or desirable in order to perfect the Liens created under the
Security Documents has been taken (including receipt of duly executed payoff letters, UCC-3 termination statements and Waivers
and consent agreements);

 

(e)         such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers
of each Loan Party as Lender may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized
to act as a Responsible Officer in connection with this Agreement, the other Loan Documents to be executed in connection with this
Agreement and, as applicable, the Cricket Purchase Agreement;

 

(f)          a favorable opinion of Maslon LLP, counsel to Loan Parties, addressed to Lender, as to such matters concerning Loan Parties,
this Agreement and the other Loan Documents to be executed in connection therewith as Lender may reasonably request;

 

    4 

     

    

 

(g)         true and correct fully-executed copies of the Cricket Acquisition Agreement, including all schedules and exhibits thereto,
the Cricket Seller Subordinated Note and all documentation relating to the issuance by New PQH Subsidiary of Equity Interests to
Cricket Seller;

 

(h)         a good standing certificate of Cricket Seller issued by the Secretary of State of Texas not more than 30 days prior to the
date of this Agreement;

 

(i)          evidence satisfactory to Lender of the consummation of the Cricket Acquisition upon the terms of the Cricket Acquisition
Agreement;

 

(j)          evidence satisfactory to Lender that immediately after giving effect to the consummation of the Cricket Acquisition and
the incurring of the Cricket Seller Subordinated Debt, the Borrower and its Non-MSB Subsidiaries (including New PQH Subsidiary)
shall be in pro forma compliance with all of the covenants set forth in Article VII of the Credit Agreement, such compliance to
be determined on the basis of the financial information most recently delivered to the Lender pursuant to Section 6.01(a) or (b)
of the Credit Agreement as though the consummation of the Cricket Acquisition and the incurring of the Cricket Seller Subordinated
Debt had been consummated as of the first day of the fiscal period covered thereby; and

 

(k)         such other documents, instruments, opinions, certifications, undertakings, further assurances and other matters as Lender
shall reasonably request.

 

SECTION
4. Consent of Guarantors. Loan Parties other than Borrower, in their capacity as “Guarantors” under their
Guaranty Agreement in favor of Lender dated April 21, 2016 (as any may be amended, modified, restated or supplemented from time
to time, the “Guaranty”), consent to the terms and provisions of the Agreement and the transactions contemplated thereby
and confirm and agree that: (a) their obligations under the Guaranty relating to the Guaranteed Obligations (as defined therein)
shall be unimpaired by the Agreement; (b) none of them have any defenses, set offs, counterclaims, discounts or charges of any
kind against Lender with respect to the Guaranty; and (c) all of the terms and conditions of the Guaranty remain unaltered and
in full force and effect and are hereby ratified and confirmed and apply to the Guaranteed Obligations, as modified by the Agreement.

 

SECTION
5. Miscellaneous.

 

(a)         Any and all references to any Loan Document in any other Loan Document shall be deemed to refer to such Loan Document as
amended by this Agreement. This Agreement is deemed incorporated into each of the Loan Documents. To the extent that any term or
provision of this Agreement is or may be inconsistent with any term or provision in any Loan Document, the terms and provisions
of this Agreement shall control.

 

(b)         Each Loan Party hereby reconfirms and reaffirms all representations and warranties, agreements and covenants made by it
pursuant to the terms and conditions of the Loan Documents to which it is a party after giving effect to the closing of the transactions
contemplated hereby, except as such representations and warranties, agreements and covenants may have heretofore been amended,
modified or waived in writing in accordance with such Loan Documents.

 

    5 

     

    

 

(c)         Each Loan Party hereby represents and warrants to Lender that (i) it has the legal power and authority to execute and deliver
this Agreement; (ii) its officers/members/managers have been duly authorized to execute and deliver this Agreement and all other
Loan Documents to which it is a party and bind it with respect to the provisions hereof and thereof; (iii) no consent, approval,
order or authorization of, or registration or filing with, any third party is required in connection with the execution, delivery
and carrying out of this Agreement or, if required, has been obtained; and (iv) this Agreement constitutes its legal, valid and
binding obligation, enforceable in accordance with its terms.

  

(d)         Each Loan Party acknowledges and agrees that each and every document, instrument or agreement, if any, which at any time
has secured payment of the Loan including, but not limited to, the Security Documents executed in connection therewith, hereby
continue to secure prompt payment when due of the Loan.

 

(e)         Each Loan Party represents and warrants that (i) no Event of Default exists under the Loan Documents to which it is a party,
nor will any occur as a result of the execution and delivery of this Agreement or the performance or observance of any provision
hereof or contemplated hereby and (ii) it presently has no claims or actions of any kind at law or in equity against Lender arising
out of or in any way relating to the Loan Documents to which it is a party. Each Loan Party hereby expressly waives, releases and
relinquishes any and all such defenses, setoffs, claims, counterclaims and causes of action, known or unknown, which may exist
at this time.

 

(f)          This Agreement embodies the entire agreement and understanding among the parties relating to the subject matter hereof and
supersedes all prior proposals, negotiations, agreements, and understandings relating to such subject matter. Except as amended
or modified hereby, the terms and provisions of the Loan Documents remain unchanged, are and shall remain in full force and effect
unless and until modified or amended in writing in accordance with their terms, and are hereby ratified and confirmed. Except as
expressly provided in Section 2, this Agreement shall not constitute a waiver, release or consent with respect to any provision
of any Loan Document, a waiver or forbearance of any default or Event of Default under any Loan Document, or a waiver or release
of any of Lender’s rights and remedies (all of which are hereby reserved).

 

(g)         This Agreement may be signed in any number of counterpart copies and by the parties to this Agreement on separate counterparts,
but all such copies shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this
Agreement by facsimile transmission or electronic mail in “.pdf” format shall be effective as delivery of a manually
executed counterpart. Any party so executing this Agreement by facsimile transmission or electronic mail shall promptly deliver
a manually executed counterpart, provided that any failure to do so shall not affect the validity of the counterpart executed by
facsimile transmission or electronic mail.

 

(h)         This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina, excluding
its conflict of laws rules.

 

[signatures on next page]

 

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

	 	 	 	 	 	 	 	 	 
	WESTERN CAPITAL, INC.	 	 	J&P REAL ESTATE, LLC	 
	By: 	/s/ John Quandahl	(SEAL)	 	 	 	 
	Name:	John Quandahl	 	 	 	 	 
	Title:	CEO	 	 	By: 	/s/ Steve Irlbeck	(SEAL)
	 	 	 	 	Name:	Steve Irlbeck	 
	 	 	 	 	Title:	Manager	 
	 	 	 	 	 	 	 
	RESTORERS ACQUISITION, INC.	 	 	PQH WIRELESS, INC.	 
	 	 	 	 	By: 	/s/ John Quandahl	(SEAL)
	 	 	 	 	Name:	John Quandahl	 
	By: 	/s/ Bill Powers	(SEAL)	 	Title:	CEO	 
	Name:	Bill Powers	 	 	 	 	 
	Title:	President	 	 	 	 	 
	 	 	 	 	 	 	 
	GREEN COMMUNICATIONS LLC, an Arizona limited liability company	 	GREEN COMMUNICATIONS, LLC, a Washington limited liability company
	 	 	 	 	 	 	 
	By: 	/s/ John Quandahl	(SEAL)	 	By: 	/s/ John Quandahl	(SEAL)
	Name:	John Quandahl	 	 	Name:	John Quandahl	 
	Title:	Manager	 	 	Title:	Manager	 
	 	 	 	 	 	 	 
	GREEN COMMUNICATIONS, LLC, an Oregon limited liability company	 	GO GREEN LLC	 
	 	 	 	 	 	 	 
	By: 	/s/ John Quandahl	(SEAL)	 	By: 	/s/ John Quandahl	(SEAL)
	Name:	John Quandahl	 	 	Name:	John Quandahl	 
	Title:	Manager	 	 	Title:	Manager	 
	 	 	 	 	 	 	 
	BC ALPHA HOLDINGS II, LLC	 	 	BC ALPHA, LLC	 
	 	 	 	 	 	 	 
	By: 	/s/ Gay Burke	(SEAL)	 	By: 	/s/ John Quandahl	(SEAL)
	Name:	Gay Burke	 	 	Name:	John Quandahl	 
	Title:	Manager	 	 	Title:	Manager	 

 

[signatures continued on next page]

 

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	ALPHAGRAPHICS, INC.	 	 	J&P PARK ACQUISITIONS, INC.	 
	 	 	 	 	 	 	 
	By: 	/s/ Tommy Auger	(SEAL)	 	By: 	/s/ Paul Ambrose	(SEAL)
	Name:	Tommy Auger	 	 	Name: 	Paul Ambrose	 
	Title:	CFO	 	 	Title:	President	 
	 	 	 	 	 	 	 	 	 

	PQH SOUTH LLC	 	 	 	 
	 	 	 	 	 	 
	By: By: 	/s/ John Quandahl	(SEAL)	 	 	 
	Name:	John Quandahl	 	 	 	 
	Title:	CEO	 	 	 	 

	 	 	 	 	 	 
	 	 	 	FIFTH THIRD BANK	 
	 	 	 	 	 	 
	 	 	 	By: 	/s/ Charles Arndt	 
	 	 	 	Name:	Charles Arndt	 
	 	 	 	Title:	Senior Vice President	 
	 	 	 	 	 	 	 

    8

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