Document:

Document

*** Certain information has been excluded from this amendment because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

Exhibit 10.2
Amendment No.3 To Third Amended And Restated Loan Sale Agreement
This Amendment No. 3 to the Third Amended and Restated Loan Sale Agreement (this “Amendment”) is entered into as of September 30, 2022 by and between Upstart Network, Inc., a Delaware corporation (“Purchaser”) and Cross River Bank, a New Jersey state-chartered bank (“Bank”), and amends the Third Amended and Restated Loan Sale Agreement dated as of January 1, 2019 between Bank and Purchaser (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Sale Agreement”).
Recitals:
Whereas, Purchaser and Bank have entered into the Loan Sale Agreement to govern the sale and purchase of loans by Purchaser from Bank; and
Whereas, Purchaser and Bank desire to amend the Loan Sale Agreement to provide for certain modifications to the terms thereof.
Now, Therefore, in consideration of the foregoing premises, and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
Agreement:
SECTION 1.Defined Terms.
Capitalized terms used herein and not otherwise defined herein shall have the meanings attributed to such terms in the Loan Sale Agreement.
SECTION 2.Effective Date.
The parties hereto that agree that this Amendment shall be effective as of July 1, 2022.
SECTION 3.Amendment.
The definition of “Purchase Price” in Schedule 1 to the Loan Sale Agreement is hereby amended as follows:
“Purchase Price” means, [***].
SECTION 4.Effect On The Loan Sale Agreement.
(a)Upon this Amendment becoming effective, each reference to the “Agreement,” “hereunder,” “hereof,” “herein” or words of like import referring to the Loan Sale Agreement, shall mean and be a reference to the Loan Sale Agreement as modified by this Amendment.
(b)This Amendment is not intended to create, nor does it create and shall not be construed to create, a partnership or joint venture or any other common association for profit between Bank and Purchaser.
[1]

SECTION 5.Execution In Counterparts.
This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed signature page to this Amendment by facsimile transmission or otherwise transmitted or communicated by email shall be as effective as delivery of a manually executed counterpart of this Amendment.
SECTION 6.Headings.
Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purposes.
SECTION 7.Entire Agreement.
The Loan Sale Agreement, as amended herein, is ratified, approved and confirmed in each and every respect, and constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes all other understandings, oral or written, with respect to the subject matter hereof.  In the event of any conflict or inconsistency between the provisions of the Loan Sale Agreement and this Amendment, the provisions of this Amendment shall control and govern.
SECTION 8.Successors And Assigns.
This Amendment shall be binding on and shall inure to the benefit of Purchaser and Bank and their respective successors and assigns.
SECTION 9.Miscellaneous.
The provisions contained in Section 18 (Governing Law; Jurisdiction) of the Loan Sale Agreement are incorporated herein by this reference and shall govern this Amendment.
[Signature Pages Follow]
[2]

In Witness Whereof, the parties have caused this Amendment to be duly executed and delivered by its duly authorized officer as of the day and year first above written.
						
		UPSTART NETWORK, INC.
By:  /s/ Carrie Friesen-Meyers    
Name:  Carrie Friesen-Meyers    
Title:  Deputy General Counsel    

		CROSS RIVER BANK
By:  /s/ Gilles Gade    
Name:  Gilles Gade
Title:  President and Chief Executive Officer

		By: /s/ Arlen Gelbard    
Name:  Arlen Gelbard
Title:  EVP, General Counsel

[Signature Page To Amendment No. 3
To Third Amended And Restated Loan Sale Agreement]

[3]Document

*** Certain information has been excluded from this amendment because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

Exhibit 10.3
Amendment No.4 To Third Amended And Restated Loan Program Agreement
This Amendment No. 4 to the Third Amended and Restated Loan Program Agreement (this “Amendment”) is entered into as of September 30, 2022 by and between Upstart Network, Inc., a Delaware corporation (“UNT”) and Cross River Bank, a New Jersey state-chartered bank (“Bank”), and amends the Third Amended and Restated Loan Program Agreement dated as of January 1, 2019 between Bank and UNI (“Loan Program Agreement”).
Recitals:
Whereas, pursuant to that Loan Program Agreement, as amended, supplemented or otherwise modified from time to time prior to the date hereof (the “Loan Program Agreement”), Bank originates certain loans and UNI provides Bank with certain loan origination assistance services; and
Now, Therefore, in consideration of the foregoing premises, and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
Agreement:
SECTION 1.Defined Terms.
Capitalized terms used herein and not otherwise defined herein shall have the meanings attributed to such terms in the Loan Program Agreement.
SECTION 2.Effective Date.
The parties hereto agree that this Amendment shall be effective as of July 1, 2022.
SECTION 3.Amendments.
Section 3.1.  The four paragraphs under “Origination Assistance Fees” in Exhibit A of the Loan Program Agreement is amended and restated in its entirety to read as follows:
“The Loan Origination Assistance Fee shall, for each Loan, be equal to [***]”
SECTION 4.Effect On The Loan Program Agreement.
(a)Upon this Amendment becoming effective, each reference to the “Agreement,” “hereunder,” “hereof,” “herein” or words of like import referring to the Loan Program Agreement, shall mean and be a reference to the Loan Program Agreement as modified by this Amendment.
(b)This Amendment is not intended to create, nor does it create and shall not be construed to create, a partnership or joint venture or any other common association for profit between Bank and UNI.
[1]

SECTION 5.Execution In Counterparts.
This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed signature page to this Amendment by facsimile transmission or otherwise transmitted or communicated by email shall be as effective as delivery of a manually executed counterpart of this Amendment.
SECTION 6.Headings.
Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purposes.
SECTION 7.Entire Agreement.
The Loan Program Agreement, as amended herein, is ratified, approved and confirmed in each and every respect, and constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes all other understandings, oral or written, with respect to the subject matter hereof.  In the event of any conflict or inconsistency between the provisions of the Loan Program Agreement and this Amendment, the provisions of this Amendment shall control and govern.
SECTION 8.Successors And Assigns.
This Amendment shall be binding on and shall inure to the benefit of UNI and Bank and their respective successors and assigns.
SECTION 9.Miscellaneous.
The provisions contained in Section 10.3 (Governing Law; Arbitration) of the Loan Program Agreement are incorporated herein by this reference and shall govern this Amendment.
[Signature Pages Follow]
[2]

In Witness Whereof, the parties have caused this Amendment to be duly executed and delivered by its duly authorized officer as of the day and year first above written.
						
		UPSTART NETWORK, INC.
By:  /s/ Carrie Friesen-Meyers    
Name:  Carrie Friesen-Meyers    
Title:  Deputy General Counsel    

		CROSS RIVER BANK
By:  /s/ Gilles Gade    
Name:  Gilles Gade
Title:  President and Chief Executive Officer

		By: /s/ Arlen Gelbard    
Name:  Arlen Gelbard
Title:  EVP, General Counsel

[Signature Page To Amendment No. 4 To Third Amended And Restated Loan
Program Agreement]

[3]Document

Exhibit 10.4
Upstart-CRB Small Business Loan Program
Program Agreement Addendum

This Small Business Loan Program Agreement Addendum (the “Addendum”) is entered into as of June 28, 2022 (“Addendum Effective Date”) and is attached to and made a part of the Third Amended and Restated Loan Program Agreement between Cross River Bank (“CRB”) and Upstart Network, Inc. (“UNI”) dated January 1, 2019 (as amended, supplemented or otherwise modified, the “Program Agreement”).
WHEREAS, under the Program (as defined in the Program Agreement), CRB originates unsecured personal loans and secured auto loans on the UNI Platform, and UNI provides origination assistance services in connection with such loan originations all pursuant to the terms and conditions set forth in the Program Agreement;
WHEREAS, the parties wish to expand the Program to include CRB’s origination of secured and unsecured small business loans used for business purposes (each, a “Small Business Loan”) on the UNI Platform and UNI’s provision of origination assistance services in connection with such Small Business Loan originations (“Small Business Loan Program”); and
WHEREAS, the parties wish to supplement the Program Agreement with additional terms and conditions related to the Small Business Loan Program.
NOW THEREFORE, in consideration of the mutual covenants and promises exchanged herein, the receipt and sufficiency of which is hereby acknowledged as adequate consideration, the parties agree as follows:
(1)Definitions.  Capitalized terms used in this Addendum but not defined herein will have the same meaning as in the Program Agreement.
(2)Small Business Loan Program.  The parties agree as follows:
a.Solely for purposes of the Small Business Loan Program, the definition of “Loan” in the Program Agreement is hereby deleted in its entirety and replaced with the following:
“Loan” means a consumer loan or a small business loan made by Bank to a Borrower under the Program.
The parties agree that all other terms and provisions (including, without limitation, all definitions) in the Program Agreement are hereby deemed modified as necessary to expand the Program to apply to commercial loans, in addition to consumer loans.
b.The parties acknowledge and agree that many of the various consumer protection laws applicable to consumer loans do not apply to the small business loans and UNI will limit its origination assistance and servicing responsibilities under the Small Business Loan Program to apply only to the extent legally required for small business loans.  For the avoidance of doubt, (i) Section 10.5 of the Program Agreement will apply to the Small Business Loan Program only to the extent required by Applicable Laws (as applicable to the Small Business Loan Program or to a party (or its performance) or to any Third Party Service Provider in respect of the Small Business Loan Program) and (ii) all liabilities and indemnification obligations of each party related to compliance with Applicable Laws in connection with the Small Business Loan Program are hereby deemed to apply only to the extent such compliance is required in connection with commercial loans.
c.The term “Small Business Loan Applicant” shall mean a Loan Applicant with respect to a Loan that is a small business loan.  For the avoidance of doubt, only businesses are eligible for Loans under the Small Business Loan Program, 

including natural persons that are sole proprietorships who intend to use the Loan for business purposes.
d.The term “Small Business Borrower” shall mean a Borrower with respect to a Loan that is a commercial loan.
e.Each Small Business Loan is a Loan under the Program Agreement (and for all purposes under the Program) and the Small Business Loan Program shall be deemed part of the Program for all purposes under the Program Agreement.  Except as otherwise set forth in this Addendum, the terms and conditions of the Program Agreement that apply to the Program and the Loans shall apply to the Small Business Loan Program and Small Business Loans thereunder.
f.The Program Guidelines, including the Credit Policy, Underwriting Procedures, Program Terms shall be updated to include the specifications associated with Small Business Loans to be originated under the Small Business Loan Program, as such may be updated from time to time in accordance with Section 2.3 of the Agreement.  UNI shall comply with the Program Terms and the Program Guidelines in connection with the administration of the Small Business Loan Program.  For the avoidance of doubt, all references in the Program Agreement to the Compliance Guidelines and/or Exhibit C, and all of the requirements of Exhibit C, shall be applicable to the Small Business Loan Program and the relevant party or parties only to the extent required by Applicable Laws (as applicable to the Small Business Loan Program or such party or its performance of its obligations under the Program Agreement).
g.To the extent required by Bank, UNI shall cause such Small Business Loan to be secured by a valid, legal, perfected, enforceable first-priority lien on certain assets of the Small Business Borrower (if any) as specified by Bank (any such assets, the “Small Business Collateral”).  To the extent required by Bank, UNI shall take all such actions and deliver and cause to be duly filed any and all instruments and documents, including, without limitation, UCC financing statements, necessary to assure, obtain, preserve, protect and perfect Bank’s security interest (if any) in the Small Business Collateral and the related rights and remedies with respect thereto.
h.UNI shall cause the Loan Documents for each Small Business Loan to include each of the following, as part of the origination and servicing file for such Small Business Loan or otherwise: (i) the application of the obligor for credit; (ii) a copy of the Small Business Loan agreement and any amendments thereto; (iii) a copy (but not the original) of any UCC financing statement (if any) naming Bank as secured party with respect to any security interest in the assets of the Small Business Borrower; (iv) any disclosures that are required by applicable law to be made to the Small Business Loan Applicant and/or Small Business Borrower; (v) the guarantee (if any) by the guarantor or guarantors of the obligations of such Small Business Borrower under the Small Business Loan agreement; and (vi) such other documents as Bank additionally maintains in connection with the origination and servicing of any Small Business Loan.
i.To the extent that state or federal law requires the collection of demographic or other Small Business Borrower data as it relates to the origination of Small Business Loans, UNI will collect such data on behalf of Bank, including, without limitation, to the extent required under the Equal Credit Opportunities Act, as amended, and the Bank Secrecy Act, as amended.
j.UNI will use reasonable efforts to confirm that any bank account used by a Small Business Borrower in connection with a Small Business Loan is a business account, and is not used for personal, family or household purposes.
(3)Miscellaneous.  The terms and conditions of the Program Agreement in effect between the parties shall continue to be in full force and effect and apply to this Addendum; provided however, that solely with respect to the subject matter of this Addendum, in the event of a conflict between the terms of the Program Agreement and the terms of this 
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Addendum, the terms of this Addendum shall control.  This Addendum may not be altered, amended, or modified except by written instrument, signed by the duly authorized representatives of all parties.
[Signature Page Follows]
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IN WITNESS WHEREOF, the parties, intending to be legally bound, have caused this Addendum to be executed by their duly authorized representative as of the Addendum Effective Date.
						
	CROSS RIVER BANK
/s/ Gilles Gade    
Name:  Gilles Gade
Title:  CEO
/s/ Arlen Gelbard    
Name:  Arlen Gelbard
Title:  General Counsel
	UPSTART NETWORK, INC.
/s/ Emiko Kurotsu    
Name:  Emiko Kurotsu
Title:  Lead Commercial Counsel

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