Document:

EX-10.1

 Exhibit 10.1 
  

 
  

							
	 Borrower:
 Identiv, Inc.
	 		 	 

                          
      
	 	 Lender: East West Bank

            Loan Servicing Department

            9300 Flair Drive, 6th Floor

            El Monte, CA 91731

				
	 Principal Amount:
 $2,914,500.00
	 		 		 	Date of Note: April 08, 2020

 PROMISSORY NOTE 

PROMISE TO PAY. The borrower identified above (“Borrower”) promises to pay to East West Bank (“Lender”), or order, in lawful money of the
United States of America, the principal amount specified above which will be fully disbursed at loan funding, together with interest on the unpaid principal balance from the date of this Note until paid in full. 

INTEREST RATE. The interest rate on this Note is a fixed rate of 1.00% per annum, calculated according to the INTEREST CALCULATION METHOD paragraph below.

 PAYMENT. Borrower will pay this loan in one payment of all outstanding principal plus all accrued unpaid interest on that date that is two years after
the date of this Note (“Maturity Date”). In addition, Borrower will pay regular monthly payments in an amount equal to one month’s accrued interest commencing on that date that is seven months after the date of this Note, with all
subsequent interest payments to be due on the same day of each month after that. All interest which accrues during the initial six months of the loan period will be deferred to and payable on the Maturity Date. Unless otherwise agreed or required by
applicable law, payments will be applied first to any accrued unpaid interest; then to principal. Borrower will pay Lender at Lender’s address shown above or at such other place as Lender may designate in writing. 

PAYMENT DUE DATE. If any payment required to be made under this Note becomes due and payable on a day other than a Business Day, the due date shall be
extended to the next Business Day. “Business Day” means any day other than a Saturday, Sunday or a day on which commercial Banks in Los Angeles, California are authorized or required to close. 

PREPAYMENT. This Note may be prepaid in whole or in part without penalty. 

INTEREST CALCULATION METHOD. Interest on this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360
days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under this Note is computed using this method. 

DEFAULT. Each of the following shall constitute an event of default under this Note: 

Payment Default. Borrower fails to make any payment when due under this Note, and fails to cure within fifteen days of notice and demand to cure made by
Lender. 
 False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under this Note
or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter. 

Death or Insolvency. The death or dissolution of Borrower, any assignment for the benefit of creditors, or the commencement of any proceeding under any
bankruptcy or insolvency laws by or against Borrower. 

  
   

 
  

			
	LOAN NO.                             	  	1

 

 
 Delivery of Original Note. The failure of Borrower to deliver to Lender the original of this Note bearing a wet- ink signature within six months of the date of this Note, as provided in the E-Signature paragraph hereinbelow. 

LENDER’S RIGHTS. Upon default Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest immediately due, and
then Borrower will pay that amount. 
 WHEN FEDERAL LAW APPLIES. When SBA is the holder, this Note will be interpreted and enforced under federal law,
including SBA regulations. Lender or SBA may use state or local procedures for filing papers, recording documents, giving notices, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity from state or
local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law. 

GOVERNING LAW. This Note shall be governed by the law of the State of California. 

RIGHT OF SETOFF. To the extent permitted by applicable law, Lender reserves a right of setoff in all Borrower’s accounts with Lender (whether checking,
savings, or some other account). This includes all accounts Borrower holds jointly with someone else and all accounts Borrower may open in the future. However, this does not include any IRA or Keogh accounts, or any trust accounts for which setoff
would be prohibited by law. Borrower authorizes Lender, to the extent permitted by applicable law, to charge or setoff all sums owing on the indebtedness against any and all such accounts, and, at Lender’s option, to administratively freeze all
such accounts to allow Lender to protect Lender’s charge and setoff rights provided in this paragraph. 
 SUCCESSOR INTERESTS. The terms of this Note
shall be binding upon Borrower, and upon Borrower’s heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. 

NOTIFY US OF INACCURATE INFORMATION WE REPORT TO CONSUMER REPORTING AGENCIES. 

Borrower may notify Lender if Lender reports any inaccurate information about Borrower’s account(s) to a reporting agency. Borrower’s written notice
describing the specific inaccuracy(ies) should be sent to Lender at the following address: East West Bank Loan Service Department 9300 Flair Drive, 6th Floor El Monte, CA 91731. 

GENERAL PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo enforcing any of
its rights or remedies under this Note without losing them. Borrower, to the extent allowed by law, waives any applicable statute of limitations, presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and
unless otherwise expressly stated in writing, no party who signs this Note, shall be released from liability. Lender may renew or extend (repeatedly and for any length of time) this loan without the consent of or notice to anyone. 

DISBURSEMENT INSTRUCTIONS. Borrower instructs Lender to disburse all loan proceeds to Borrower’s deposit account
no.                 maintained with Lender. 
 [intentionally
blank] 

  
   

 
  

			
	LOAN NO.                             	  	2

 

 
 E-SIGNATURE. Borrower requests Lender to accept Borrower’s electronic
signature on this Note by scanned method or other electronic method, as if it was the original wet-ink signature of Borrower. Accordingly, Borrower agrees that Borrower’s electronic signature is
enforceable by Lender as if it was the original wet-ink signature of Borrower. Borrower agrees to deliver this Note with the original wet-ink signature to Lender as soon
as practicable, and in no event later than six months after the date hereof. 
 By signing below, Borrower, on behalf of itself and each person named in
the SBA Paycheck Protection Program Application Form (“Application”), represents to Lender that all information, representations and certifications stated in the Application are true and correct, including payroll and other information
submitted to Lender. Borrower further certifies that it is adversely affected by the COVID-19 pandemic, and that it will use the fund solely for the purposes prescribed by the SBA for this loan program.
Borrower agrees to indemnify and hold Lender harmless if any information, representation or certification stated in the Application or herein is not true and correct, or if Borrower’s request or claim for loan forgiveness is declined or
otherwise rejected by the SBA. 
 Borrower 
 Identiv, Inc.

  

			
	By:	 	 /s/ Sandra Wallach

	Name:	 	Sandra Wallach
	Title:	 	CFO
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  
   

 
  

			
	LOAN NO.                             	  	3

 

 
 RESOLUTION OF BORROWER 

The signer on the Paycheck Protection Program loan application form is authorized, for, on behalf of, and in the name of Identiv, Inc. (the
“Company”) to execute and deliver in form and content as may be required by East West Bank all notes, applications and other agreements, instruments or documents to carry out the purposes of this resolution. 

I/We certify that: (1) If the Company named above is a corporation, at least one of us is its Secretary or Assistant Secretary; if it is a partnership,
we constitute all of its general partners or managing partners; or if it is a limited liability company, I am its Secretary or I/we are Member(s) and/or its only manager(s); (2) The foregoing resolution is a true copy of a resolution duly adopted by
the Company’s governing body and remains valid and effective. 
 Dated: April 9, 2020 

 

							
	 /s/ Sandra Wallach
	 	                	 	 Sandra Wallach, CFO
	 	
	Signature	 		 	Name and Title	 	
				
	  
	 		 	  
	 	
	Signature	 		 	Name and Title	 	
				
	  
	 		 	  
	 	                
	Signature	 		 	Name and Title	 	

  
   

 
  

			
	LOAN NO.                             	  	4EX-10.1

 Exhibit 10.1 

CONSULTING AGREEMENT 
 THIS
CONSULTING AGREEMENT (the “Agreement”) is made and entered into as of the 13th day of April, 2020 (the “Effective Date”), by and between DANIEL J. TAGGART (“Consultant”) and REGIONAL MANAGEMENT CORP., a Delaware
corporation (the “Corporation”). 
 WITNESSETH: 

WHEREAS, Consultant previously served as Executive Vice President and Chief Credit Risk Officer of the Corporation and, in connection with his
employment, Consultant and the Corporation entered into that certain Employment Agreement, dated August 30, 2017 (the “Employment Agreement”); and 

WHEREAS, Consultant terminated employment with the Corporation effective on or about February 14, 2020; and 

WHEREAS, Consultant possesses valuable skills and experience and confidential business knowledge about the operation of the Corporation’s
business; and 
 WHEREAS, the Corporation desires to secure for itself the benefit of Consultant’s ability and expertise, and
Consultant has indicated his willingness to provide consulting and advisory services (the “Services”) to the Corporation on the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises and other consideration as expressly provided for herein, the parties hereto agree as
follows: 
 1.    Engagement. The Corporation hereby engages Consultant, as an independent contractor, to provide
the Services more particularly described herein, and Consultant accepts such engagement, subject to the terms and conditions stated herein. 

2.    Consulting. 

(a)     Duties. Consultant shall provide such Services, including but not limited to Services related to credit risk
matters, as the Chief Executive Officer, the Executive Vice President and Chief Credit Risk Officer, or the Board of Directors (the “Board”) of the Corporation (or any of his, its, or their designees) may reasonably request, and shall
provide the Corporation with the benefit of his experience and knowledge concerning all such matters. Consultant agrees to provide the Corporation with a minimum of eighty-five (85) hours of Services in each calendar month during the term of
this Agreement. Consultant agrees not to accept any other employment that would preclude him from carrying out or otherwise interfere with his responsibilities hereunder. Consultant will comply with all applicable laws, rules, regulations, and
similar provisions applicable to his performance under the Agreement. 
 (b)    Consulting Fees. In consideration
for the Services to be rendered by Consultant to the Corporation hereunder, during the term of this Agreement, the Corporation agrees to pay to Consultant a consulting fee (the “Consulting Fee”) equal to Twenty-Five Thousand Dollars
($25,000) per calendar month, payable in advance (or, in the case of April 2020, 

  
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payable within ten (10) days of the Effective Date). The Corporation also agrees to pay Consultant an additional amount equal to $300 per hour for each hour of Services that Consultant
performs in excess of eighty-five (85) hours in any calendar month (the “Additional Fees”); provided, however, that Consultant shall provide written notification to the Corporation prior to exceeding eighty-five (85) hours
of Services in a calendar month. Consultant will invoice the Corporation for such Additional Fees, if any, within fifteen (15) days following the end of each calendar month, and the Corporation agrees to pay such Additional Fees within thirty
(30) days of the invoice date. In addition, the Corporation shall pay or reimburse Consultant for all reasonable bona fide out-of-pocket, third-party business
expenses incurred by Consultant in the performance of Services under this Agreement in accordance with the expense reimbursement policies in effect for consultants to the Corporation generally and in accordance with Section 8 herein. 

3.    Term; Termination. The term of this Agreement shall commence on April 1, 2020 and shall expire on
June 30, 2020. Notwithstanding the foregoing, this Agreement may be terminated by either party upon thirty (30) days’ notice to the other party and may be extended upon the mutual written agreement of the parties. In addition, the
Agreement shall terminate automatically, without any further obligation of the Corporation to pay any amounts under the Agreement, upon (a) the death of Consultant, (b) the Corporation’s determination of (i) Consultant’s
commission of an act of embezzlement, dishonesty, fraud, or gross neglect of duties under this Agreement, (ii) Consultant’s commission of a felonious act or other crime involving moral turpitude or public scandal, or
(iii) Consultant’s breach of any of his obligations under Article III of the Employment Agreement or other conduct committed which Consultant knew or should have known was not in the Corporation (or any of its subsidiaries’) best
interest; or (c) a determination made in good faith by the Corporation that Consultant is unable to perform due to medical infirmity the Services assigned to him by the Corporation pursuant hereto. 

4.    Employee Benefit Plans. Consultant shall not be entitled to participate in any benefit plans of the
Corporation as a result of his engagement under this Agreement; provided, however, Consultant shall continue to be entitled to all of the accrued rights and benefits afforded to Consultant pursuant to the terms of the employee benefit plans of the
Corporation in which Consultant participated as of the date of his termination of employment with the Corporation. 

5.    Tax Matters; Independent Contractor. Under this Agreement, Consultant shall provide Services as a
self-employed, independent contractor of the Corporation. Accordingly, the Corporation will not be required to, and shall not, withhold any income or employment taxes from any amounts payable hereunder. Consultant shall pay all income and employment
taxes with respect to the Consulting Fee and other payments made hereunder. The Corporation has made no warranties or representations to Consultant with respect to the tax consequences contemplated by this Agreement and/or any benefits to be
provided pursuant thereto. Consultant acknowledges that there may be adverse tax consequences related to the matters contemplated herein and that he should consult with his personal tax advisor regarding such matters. Consultant also acknowledges
that the Corporation has no responsibility to take or refrain from taking any action in order to achieve a certain tax result for Consultant. Nothing in this Agreement or the actions contemplated thereunder shall be construed to create an employment
or agency relationship between or on behalf of the Corporation or any of its affiliates and Consultant. 

  
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 6.    Entire Agreement; Amendment; Waiver. This Agreement
contains the entire agreement of the parties with respect to the subject matter hereof and all previous agreements and discussions relating to the same or similar subject matter are merged herein. This Agreement may not be changed, amended,
modified, terminated, or waived except by a writing signed by both parties hereto. No term or condition of this Agreement shall be deemed to have been waived, except by a written statement signed by the party against whom enforcement of the waiver
is sought. Any written waiver shall not be deemed a continuing waiver unless specifically stated, shall operate only as to the specific term or condition waived, and shall not constitute a waiver of such term or condition for the future or as to any
act other than that specifically waived. 
 7.    Continuing Obligations and Continuing Cooperation. Consultant
expressly acknowledges and agrees that he is obligated to, shall continue to be obligated to, and shall comply with, the provisions of Article III (“Covenants”) and Section 4.7 (“Choice of Law; Forum Selection; Jury Trial
Waiver”) of the Employment Agreement (consistent with the provisions of Section 3.12 of the Employment Agreement). Consultant acknowledges and agrees that the terms and conditions of Article III of the Employment Agreement are reasonable
and necessary to protect the legitimate interests of the Corporation and that any violation of Article III of the Employment Agreement by Consultant may cause substantial and irreparable harm to the Corporation. Consultant also agrees that the
Corporation may seek any remedies set forth in Article III of the Employment Agreement should Consultant violate Article III of the Employment Agreement. Consultant and the Corporation specifically agree that Article III of the Employment Agreement
is incorporated herein by reference and integrated herein. Further, until the expiration of the applicable statutes of limitations, Consultant agrees to provide continuing cooperation to the Corporation in the defense of any asserted or unasserted
claims, charges, or lawsuits pending against it. Such cooperation shall include, but not be limited to, providing the Corporation with information, affidavits, deposition testimony, or testimony as a witness in any forum. 

8.    Code Section 409A. The Corporation and Consultant agree that each party will cooperate in
good faith so that no compensation paid to Consultant by the Corporation under this Agreement will violate Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations promulgated thereunder;
provided, however, that Consultant acknowledges and agrees that in the event that this Agreement or any benefit described herein shall be deemed not to comply with Code Section 409A, then neither the Corporation, the Board, the Compensation
Committee of the Board, nor its or their designees, agents, or affiliates shall be liable to Consultant or other persons for actions, decisions, or determinations made in good faith. Whenever payments under this Agreement are to be made in
installments, each such installment shall be deemed to be a separate payment for purposes of Code Section 409A. Notwithstanding anything to the contrary contained herein, with respect to any reimbursement of expenses, or any provision of in-kind benefits, that are subject to Code Section 409A, and related regulations or other guidance, the following conditions shall apply: (a) the expenses eligible for reimbursement or the amount of in-kind benefits provided in any one taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable
year, except for any medical reimbursement providing for the reimbursement of expenses referred to in Code Section 105(b); (b) the reimbursement of an eligible expense shall be made no later than the last day of Consultant’s taxable year
following the taxable year in which such expense was incurred; and (c) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit. 

  
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 9.    Governing Law; Jurisdiction; Venue; Controlling Document.
All matters relating to the interpretation, construction, application, validity, and enforcement of this Agreement shall be governed by the laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule,
whether of the State of Delaware or any other jurisdiction, that would cause the application of laws of any jurisdiction other than the State of Delaware. Consultant and the Corporation knowingly and voluntarily agree that any controversy or dispute
arising out of or otherwise related to this Agreement, including any employment or statutory claim, shall be tried exclusively, without jury, and consent to personal jurisdiction in the state courts of Greenville, South Carolina or the United States
District Court for the District of South Carolina situated in Greenville, South Carolina, as appropriate. 

10.    Assignment. This Agreement shall not be assignable, in whole or in part, by either party without the written
consent of the other party, except that the Corporation may, without Consultant’s consent, assign its rights and obligations under this Agreement to any corporation or other business entity (a) with which the Corporation may merge or
consolidate, or (b) to which the Corporation may sell or transfer all or substantially all of its assets or capital stock. 

11.    Counterparts; Severability. This Agreement may be executed in any number of counterparts, and such
counterparts executed and delivered, each as an original, shall constitute but one and the same instrument. A copy of this Agreement bearing the facsimile, photostatic, PDF, or other copy of a party hereto shall be as valid for all purposes as a
copy bearing that party’s original signature. To the extent that any portion of any provision of this Agreement shall be invalid or unenforceable, it shall be considered deleted herefrom and the remainder of such provision and of this Agreement
shall be unaffected and shall continue in full force and effect. 
 12.    Notices. Any notice hereunder shall be
in writing and shall be deemed to have been duly given if delivered by hand, sent by reputable next-day commercial courier, or sent by registered or certified mail, return receipt requested, postage prepaid,
to the party to receive such notice addressed as follows: (i) if to the Corporation: Regional Management Corp., 979 Batesville Road, Suite B, Greer, SC 29651, Attention: General Counsel; and (ii) if to Consultant, to the address on file
with the Corporation’s Human Resources department. 
 [signature page follows] 

  
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 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be executed by its duly
authorized representative, and Consultant has hereunto set his hand and seal, all as of the day and year first above written. 
  

			
	 CORPORATION:
  

REGIONAL MANAGEMENT CORP.

		
	By:	 	/s/ Robert W. Beck
	Name:	 	Robert W. Beck
	Title:	 	President and Chief Executive Officer

  

	
	CONSULTANT:
	
	/s/ Daniel J. Taggart
	Daniel J. Taggart

  
 5

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